Cross-Market Herding: Do ‘Herds’ Herd with Each Other?
نویسندگان
چکیده
Although herding constitutes one of the most widely researched behavioral trading patterns internationally, possibility cross-market has remained largely underexplored in literature. Our study provides a detailed empirical investigation this issue context ten Asia-Pacific markets for February 1995–March 2022 window. We find that all markets’ “herds” project significant relationships with each other, causality being identified within minority those relationships. These results are robust when controlling financial crises (Asian; global financial; pandemic) and US market returns.
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ژورنال
عنوان ژورنال: Journal of Behavioral Finance
سال: 2022
ISSN: ['1542-7560', '1542-7579']
DOI: https://doi.org/10.1080/15427560.2022.2100383