This study utilizes bibliometric analysis and structural topic modelling to investigate a dataset of 388 articles from Elsevier’s Scopus database over the past two decades (2002-2022), with a specific focus on the field of mental accounting.
Authors
Sonam Arora, Department of Finance, LJ University, Ahmedabad, Gujarat, India.
Sarveshwar Kumar Inani, Jindal Global Business School, OP Jindal Global University, Sonipat, Haryana, India.
Nitin Simha Vihari, Middlesex University Dubai, Dubai, United Arab Emirates.
Summary
The heightened global recognition of mental accounting in the realm of behavioural finance research has attracted the attention of academics, scholars, industry professionals, financial institutions, and decision-makers. This study utilizes bibliometric analysis and structural topic modelling to investigate a dataset of 388 articles from Elsevier’s Scopus database over the past two decades (2002-2022), with a specific focus on the field of mental accounting.
It analyses publication trends, influential countries, and notable journals. The United States leads with 102 articles, mainly single-country publications (85 SCPs and 17 MCPs), resulting in an MCP Ratio of 0.167. The “Journal of Economic Psychology” emerges as a prominent source, contributing 18 articles (4.6% of the total articles). Structural topic modelling results reveal five thematic clusters: Financial decision-making and investment biases; Consumer behaviour in purchases, spending, and payments; Consumption patterns and economic decisions; Accounting, taxation, and pricing effects; and Perceived value of mental accounting.
The future research agenda for mental accounting research encompasses interdisciplinary approaches, innovative methodologies, and a strong focus on practical applications aimed at enhancing financial decision-making and overall financial well-being. These findings enhance understanding of key topics and keywords in mental accounting. These findings carry substantial significance for a diverse audience, including scholars, financial institutions, and professionals.
Published in: 2023 International Conference on Innovative Computing, Intelligent Communication and Smart Electrical Systems (ICSES)
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