Journal article
Dynamic herding behavior in Pacific-Basin markets: Evidence and implications
Multinational finance journal, v 17(3-4), pp 165-200
01 Sep 2013
Abstract
This study examines investor herding behavior in Pacific-Basin equity markets. Results indicate that the level of herding is time-varying, and is present in both rising and falling markets. It is positively related to stock market performance, but negatively related to market volatility. Herding estimates across markets are positively correlated, signifying comovement of herding behavior in the region. The findings suggest that tests for herding should consider its dynamic behavior.
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Details
- Title
- Dynamic herding behavior in Pacific-Basin markets: Evidence and implications
- Creators
- Thomas Chiang - Drexel UniversityLin Tan - California State Polytechnic UniversityJiandong Li - Drexel UniversityEdward Nelling - Drexel University
- Publication Details
- Multinational finance journal, v 17(3-4), pp 165-200
- Publisher
- Global Business Publications
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Other Identifier
- 991021881513604721