Journal article
Herding within industries: Evidence from Asian stock markets
International review of economics & finance, v 51, pp 487-509
Sep 2017
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
This paper examines herding behavior at the industry level for nine Asian markets. Using daily data, we find that industry herding generally exists in these markets, but is stronger at industry level as compared with the domestic and international market levels. Within each market, herding activities are stronger in the Technology and Financial industries, but weaker in the Utility industry. The evidence indicates that industry herding is more pronounced in down markets and low trading volume markets for most markets. Herding is also more apparent in both high and low market value industries, in low dividend yield industries and in less concentrated industries.
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Details
- Title
- Herding within industries: Evidence from Asian stock markets
- Creators
- Dazhi Zheng - West Chester UniversityHuimin Li - West Chester UniversityThomas C. Chiang - Drexel University
- Publication Details
- International review of economics & finance, v 51, pp 487-509
- Publisher
- Elsevier
- Number of pages
- 23
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Web of Science ID
- WOS:000413129500032
- Scopus ID
- 2-s2.0-85024387783
- Other Identifier
- 991019167676904721
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InCites Highlights
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- Collaboration types
- Domestic collaboration
- Web of Science research areas
- Business, Finance
- Economics