Article: The evolution of the digital finance literature on financial behaviour and market risk Journal: International Journal of Business and Emerging Markets (IJBEM) 2026 Vol.18 No.10 pp.1 - 32 Abstract: Currently, the emphasis in digital finance research is on financial behaviour and market risk. The literature remains fragmented in the areas of FinTech, computational forecasting, behavioural finance and financial risk. This study examines the evolution, knowledge structure, and emerging themes of the digital finance literature on financial behaviour and market risk. Data were obtained from 967 documents from Scopus and Web of Science and subjected to co-citation, keyword co-occurrence, and thematic analysis. The number of publications increased considerably after 2019, with the upward trend continuing into 2025. The co-citation network suggests three knowledge foundations involving behavioural finance and technology acceptance; market theory and computational forecasting; and FinTech and robo-advisory. The keyword analysis identifies four streams covering FinTech and behaviour, AI-based investment, market prediction, and automated trading and risk management. Motor themes include FinTech, market volatility and machine learning, while the niche quadrant contains behavioural finance. Digital transformation, stock markets, and cryptocurrency are some of the themes that are emerging or declining. Ecosystem attributes, regulatory oversight and investor protections can be guided by evidence from the FinTech and risk themes. The results also inform investor education and additional research on the linkage between behavioural and computational approaches. Inderscience Publishers - linking academia, business and industry through research

Title: The evolution of the digital finance literature on financial behaviour and market risk

Authors: Ninh Van Nguyen; Huyen Thanh Phan; Le Thi Tran

Addresses: Faculty of Commerce and Tourism, Industrial University of Ho Chi Minh City, 12 Nguyen Van Bao Street, Hanh Thong Ward, Ho Chi Minh City, Vietnam ' Faculty of Commerce and Tourism, Industrial University of Ho Chi Minh City, 12 Nguyen Van Bao Street, Hanh Thong Ward, Ho Chi Minh City, Vietnam ' Faculty of Commerce and Tourism, Industrial University of Ho Chi Minh City, 12 Nguyen Van Bao Street, Hanh Thong Ward, Ho Chi Minh City, Vietnam

Abstract: Currently, the emphasis in digital finance research is on financial behaviour and market risk. The literature remains fragmented in the areas of FinTech, computational forecasting, behavioural finance and financial risk. This study examines the evolution, knowledge structure, and emerging themes of the digital finance literature on financial behaviour and market risk. Data were obtained from 967 documents from Scopus and Web of Science and subjected to co-citation, keyword co-occurrence, and thematic analysis. The number of publications increased considerably after 2019, with the upward trend continuing into 2025. The co-citation network suggests three knowledge foundations involving behavioural finance and technology acceptance; market theory and computational forecasting; and FinTech and robo-advisory. The keyword analysis identifies four streams covering FinTech and behaviour, AI-based investment, market prediction, and automated trading and risk management. Motor themes include FinTech, market volatility and machine learning, while the niche quadrant contains behavioural finance. Digital transformation, stock markets, and cryptocurrency are some of the themes that are emerging or declining. Ecosystem attributes, regulatory oversight and investor protections can be guided by evidence from the FinTech and risk themes. The results also inform investor education and additional research on the linkage between behavioural and computational approaches.

Keywords: digital finance; FinTech; behavioural finance; investor behaviour; market risk.

DOI: 10.1504/IJBEM.2026.156553

International Journal of Business and Emerging Markets, 2026 Vol.18 No.10, pp.1 - 32

Received: 19 Jan 2026
Accepted: 17 Aug 2026
Published online: 28 Sep 2026 *

Title: The evolution of the digital finance literature on financial behaviour and market risk

Keep up-to-date