1. BEHAVIORAL BIASES AND INVESTMENT DECISION MAKING AMONG WOMEN FACULTY: THE MEDIATING ROLE OF RISK PERCEPTION AND MODERATING ROLE OF FINANCIAL LITERACY
Authors: PALLAVI PANCHALINGA MURTHY, MOHAN SUBRAMANIYAM and SATYANARAYANA PARAYITAM*
Abstract
The study explores the relationships among behavioral biases, investment decision-making, risk perception, and financial literacy. A conceptual model is developed and tested by collecting data from 415 women faculty members at higher education institutions in India. More specifically, this study tests the effect of three behavioral biases – herding bias, loss aversion bias, and overconfidence bias-on investment decisions of women faculty. First, we checked the psychometric properties of the survey instrument and then tested the hypothesized relationships using partial least squares structural equation modelling (PLS-SEM). The findings indicated (a) behavioral biases are significantly and positively associated with risk perception, and (b) risk perception is positively and significantly associated with investment decision making. The results supported the negative effect of behavioral biases on investment decision-making. The findings also suggest that risk perception mediated the relationship between behavioral biases and investment decision-making. This study documented the moderating effect of financial literacy in the (i) relationship between risk perception and investment decision making, and (ii) behavioral biases and investment decision making. This study underscores the importance of financial literacy and provides direct empirical evidence to support the behavioral biases–investment decision relationship. Theoretical contributions and practical implications are discussed.
Keywords: Behavioural Finance, Financial Literacy, Herding, Investment Decision Making, Loss Aversion, Women Faculty, Overconfidence, Risk Perception.
2. REIMAGINING AI-ENABLED DIGITAL GREEN FINANCE: AN APPRAISAL OF EMERGING THEMES AND RESEARCH FRONTLINES
Authors: GOURAV KAMBOJ1 and Dr. SAKSHI BATHLA2
Abstract
The convergence of artificial intelligence, fintech and sustainable finance has augmented the transformation of global financial systems, yet the intellectual structure and thematic evolution of this emerging domain remain fragmented across disciplinary and jurisdictional boundaries. Addressing this gap, the present study integrates bibliometric analysis with systematic literature review techniques to synthesize the rapidly expanding scholarship on AI-enabled digital green finance published during 2020-2025. Drawing upon 341 Scopus-indexed articles for bibliometric mapping and 80 rigorously screened studies for thematic synthesis, this study employs Biblioshiny and VOSviewer to examine publication trends, influential authors, countries, collaborative networks, co-citation structures and thematic trajectories. The analysis identifies five dominant research clusters (a) AI-driven ESG analytics and sustainability reporting, (b) blockchain-enabled transparency mechanisms, (c) green fintech and financial inclusion, (d) AI-based climate-risk and sustainable investment systems and governance, (e) ethics and algorithmic accountability in digital green finance. The findings indicate a sharp expansion of the domain post 2020, driven primarily by sustainability-transition agendas, fintech innovation and data-centric ESG governance. Despite this growth, substantial gaps persist regarding explainable AI, longitudinal causal evidence, institutional heterogeneity and inclusive green-finance ecosystems. By integrating science mapping with thematic synthesis, the study contributes to a consolidated intellectual framework and future research agenda while offering policy and managerial insights for sustainable digital-finance governance.
Keywords: Digital Green Finance, Artificial Intelligence, Sustainable Finance, Fintech, ESG, Bibliometric Analysis, Systematic Literature Review, Climate Finance.