OVERCONFIDENCE AND DISPOSITION EFFECT: MAPPING LITERATURE AND AGENDA FOR FUTURE RESEARCH
A literature review based on 100 articles has successfully identified variables, countries, perspectives, and research methodology in the context of research on the disposition effect that has been carried out so far. The results of the study found that most of the disposition effect studies used a quantitative empirical approach. The experimental, survey, and combinative research methods are becoming more relevant to be used to provide a better picture of the disposition effect. Besides, future research regarding the disposition effect can use several variables that have a rare frequency of appearance, namely overconfidence, individual investor, and investor characteristics. Based on the analysis in Scopus-indexed journals (Q1 to Q4), another factor appears that plays a role in the disposition effect but is rarely used by researchers, namely Professional Advice.
Overconfidence, Disposition Effect, Prospect Theory, Heterogeneous Theory, Systematic Review, Bibliometric.