The objective of this paper is to study and describe various biases in investment decision-making through the review of research papers in the area of behavioral finance. | Impact of behavioral biases on investment decisions a systematic review International Journal of Management IJM Volume 11 Issue 4 April 2020 pp. 68-76 Article ID IJM_11_04_009 Available online at http ijm JType IJM amp VType 11 amp IType 4 Journal Impact Factor 2020 Calculated by GISI ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication Scopus Indexed IMPACT OF BEHAVIORAL BIASES ON INVESTMENT DECISIONS A SYSTEMATIC REVIEW Anurag Shukla Research Scholar Dr. . Abdul Kalam Technical University Lucknow Uttar Pradesh India Dr. Naela Jamal Rushdi Professor amp Director IILM Academy of Higher Learning Lucknow Uttar Pradesh India Dr. Rakesh Chandra Katiyar Ex- Professor amp Pro Vice Chancellor CSJM University Kanpur Uttar Pradesh India ABSTRACT The objective of this paper is to study and describe various biases in investment decision-making through the review of research papers in the area of behavioral finance. This research paper describes various behavioral patterns of investors. For writing this paper research papers have been collected over a period of year s right from the time when the most introductory paper was published 1974 till the most recent papers 2019 . These research papers are segregated on the basis of biases. This study is more focused towards the study of individual investors. This study has identified 7 various types of biases. This study is also based on some of the most recent research work to have a quick overview of the latest work carried out in this area. Practical implications of the research is that individual investors investment advisers students and other institutions in this area can get inputs from this research. The unique aspect of this paper is that this paper not only pays attention on basic principles of behavioral finance but also describes some emerging concepts of behavioral finance. Thus the paper creates interest in the readers to find the solutions to minimize
