Behavioural Dynamics of Green Investing: An Exploratory Study of Investor Perceptions and Experiences

The increasing visibility of green investing has made it a leading topic of investment discussion worldwide. This research investigates the behavioural dynamics that influence investor experience and perceptions, providing insights into the experiential and psychological drivers of green investment participation. The research applies Natural Language Processing (NLP) methodology to assess scholarly work in an organized manner and detect underlying themes, patterns, and lacunae. The thematic clustering in topic modelling analysis shows different thematic groups, such as market forces and financial returns, environmental goods and ethical engagement, sustainable values and trust, finance opportunities and risk beliefs, psychological and cognitive factors, greenwashing and institutional ambiguity, behavioural framing and decision organization, regulatory and structural dilemmas, and social and experiential dimensions. The text cluster analysis produces three unique clusters: theoretical and cognitive bases, behavioural dynamics and decision-making processes, and practical opportunities and market challenges. The thematic analysis identifies the complex interplay of cognitive frames, behavioural biases, structural contexts, and ethical values that shape investor behaviour in sustainable finance. The results indicate that decision-making goes beyond rational calculations of return and is influenced by perceptions of trust, risk, social identity, policy-driven influences, and market-driven influences. The research adds to the scholarly discussion by uncovering the multidimensionality of green investing literature and offers implications for practitioners, academics, and theory building. Directions for future research are empirical confirmation of thematic clusters, longitudinal research, research in emerging markets, and financial technology and artificial intelligence in sustainable investment decisions.