Examination of behavioral finance concept in the world and Turkey by using bibliometric analysis

Traditional finance is based on the assumption that individuals are rational and free from emotions and takes decisions only by considering the maximum benefit. Behavioural finance is a field that focuses on individuals not always making rational decisions. They could be irrational or limited rational and use mental means in their financial decisions. Research in this field shows that mental factors are effective in individuals making financial decisions. The concept of behavioural finance has emerged to evaluate the financial decisions people make under the influence of such psychological factors and to fill the gap existing in behavioural tendencies in the traditional viewpoint. When the literature in Turkey on this subject is examined, it has been determined that there is no bibliographic study under the title of behavioural finance. In this study, to fill this gap in the literature, the situation of the concept of behavioural finance in the world and Turkey has been examined with bibliographic analysis techniques. In the process of conducting this analysis, the Web of Science database was used to observe the status of behavioural finance in the World. Nevertheless, the TR index database and the National Thesis Center were used to determine the situation in Turkey. In this context, studies conducted in Turkey and the world were examined. The changes of many factors such as author, journal, field, keyword, which are determinative for the studies, and the relationships between all these have been revealed. In order to examine the data and reveal these kind of relations; R Studio and Bibliometrix R package, VOSviewer, Knowledge Matrix Plus and MS Excel have been used.