Herding Behavior: Intensification and Flow in the Indonesian Stock Market

Abstract Subject and purpose of work: This paper explores whether herding behavior is formed according to the type investor, how long transmission occurs, identifies big reaction flow connects between investors. Materials methods: The population in this study are companies whose shares listed LQ45 index list for period January 2015 December 2017 on Indonesia Stock Exchange. To find out further about behavior, a VAR test will be conducted study. Results : results analysis, based investor Exchange, show that there each similar investor. Moreover, certain spread by shareholder. Conclusions: most influential variables four types successive investors domestic institutional investors, individual foreigners, individuals, foreign institutions. respond differently behavior.