Insights into the Association between Financial Literacy and Stock Market Participation of Retail Investors: A Bibliometric Review

Abstract

The proposed work is intended to provide insights into past and contemporary research themes in financial literacy and stock market participation by employing the technique of bibliometric analysis. Bibliographic information involving financial literacy and stock market participation was compiled from Scopus, which generated 1628 documents spanning from 1991 to 2022. In order to execute various bibliometric analyses and evaluations, Biblioshiny - an open-source platform, was used in this research paper. The analysis of the bibliographic data offered a detailed description of the theme of financial literacy and stock market participation. Further it addressed the contemporary themes and trends in the subject area. The themes of financial literacy, financial education, risk tolerance, household finance, financial advice, and stock market participation were discovered to be the less-researched areas in this domain. To better comprehend the idea of financial literacy and propagate its relevance to investors and non-investors, further research may be carried out on these topics.