Role of Stock Price Fragility on Financial Development and Economic Efficiency: Evidences from Systematic Literature Review

Abstract

The aspiration to do this research is to conduct a systematic literature review produced
during last 65 years in domain of empirical finance. The paper highlights the gap of study and
their origin in finance by linking concept wise development from simple phenomena to stock price
fragility. We also aimed to investigate it theoretically with sensed question to produce lines of work in
future. We employed systematic literature review technique to this investigation by assessing source
& quantity of data, publication time horizon, contextual participation of articles, content and citation
analysis. Recent study worked on 139 published articles on prominent data bases from last 65 years.
We erected ample constrains in this scope in all around the world with lack of testified procedure,
availability of data for testing, lack of consensus, poor attention to funds and inefficiency to work on
price fragility empirically. As per our knowledge this is the first study in the world covering complete
time frame “1952-2017” with SLRM in the field of traditional finance and also the first to conduct the
review of literature on price fragility. This research will be serviceable to educationists, researchers
and for them who are working on this compartment of finance.