Journal article
Herding behavior in Chinese stock markets: An examination of A and B shares
Pacific-Basin finance journal, v 16(1), pp 61-77
2008
Abstract
This study examines herding behavior in dual-listed Chinese A-share and B-share stocks. We find evidence of herding within both the Shanghai and Shenzhen A-share markets that are dominated by domestic individual investors, and also within both B-share markets, in which foreign institutional investors are the main participants. Herding occurs in both rising and falling market conditions. Herding behavior by A-share investors in the Shanghai market is more pronounced under conditions of rising markets, high trading volume, and high volatility, while no asymmetry is apparent in the B-share market.
Metrics
34 Record Views
430 citations in Scopus
Details
- Title
- Herding behavior in Chinese stock markets: An examination of A and B shares
- Creators
- Lin Tan - California State Polytechnic UniversityThomas C. Chiang - Drexel UniversityJoseph R. Mason - Drexel UniversityEdward Nelling - Drexel University
- Publication Details
- Pacific-Basin finance journal, v 16(1), pp 61-77
- Publisher
- Elsevier
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Scopus ID
- 2-s2.0-36549042868
- Other Identifier
- 991019174903704721