OF THESIS .................................................................................................. iii ACKNOWLEDGMENTS ................................................................................................. vi DEDICATION ................................................................................................................. viii TABLE OF CONTENTS ......................

We provide an empirical analysis of herding behavior in cryptocurrency markets during COVID-19 and periods cyber-attacks, differentiating between fundamental nonfundamental herding. The results show that is driven by information the full sample period cyber-attack days. However, not prevalent outbreak, either when reacting to or information. This finding suggests heterogeneity behaviors partici...

We characterize optimal strategies in a simple herding model where observations have a small cost. We assume that there are two states and two possible signals that each agent may get. The prior distribution is biased towards adopting behavior. That is ex-ante adopting gives a higher expected utility than not adopting. Contrary to Kultti & Miettinen (2005) herding does not arise deterministical...

We find substantial herding in U.S. corporate bonds among bond fund managers, much higher than that previously documented for the equity market. Herding is generally stronger among illiquid bonds, and buy herding and sell herding are driven by different factors. In particular, sell herding increases on negative news about bond ratings and corporate earnings. Interestingly, increases in ex-post ...

Do firms employing undocumented workers have a competitive advantage? Using administrative data from the state of Georgia, this paper investigates the incidence of undocumented worker employment across firms and how it affects firm survival. Firms are found to engage in herding behavior, being more likely to employ undocumented workers if competitors do. Rivals’ undocumented employment harms fi...

In this paper I analyze how careerist decision makers aggregate and use information provided by others. I find that decision makers who are motivated by reputation concerns tend to ‘anti-herding’, i.e., they excessively contradict public information such as the prior or others’ recommendations. I also find that some decision makers may deliberately act unilaterally and not consult advisers alth...

We expand on research concerning the well-pronounced influence of geographical peer groups on human behavior. For this purpose, bank-specific risk-taking behavior and its relation to culturally close banks – measured by geographical as well as linguistic distance – is examined. We hypothesize that the level of risk taken by an distinct bank can be explained by the risk-taking behavior of other ...

Abstract This study investigates the herding behavior in cryptocurrency market during period of Russia and Ukraine conflict using intraday price data five largest cryptocurrencies terms capitalization. The empirical results indicate an anti-herding whole conflict, especially after officially happens. research contributes to growing literature on by examining Russia–Ukraine period.