herding regime. After this self-amplified exuberance, the price has reached an unsustainable high value, being corrected by a … reconciliation of the two opposite (herding versus fundamental) proposals for the origin of crashes within a single framework and …

The purpose of this research is to explore the herding phenomenon during the Asian crisis of 1997 using intraday data … and a herding intensity measure that is free of the bias inherent in other measures. The findings suggest that the crisis … did not affect herding intensity to the same extent across all stocks, the largest and most persistent impact of the …

Informationsstandes verbunden zu sein. Das Anlageverhalten der Fondsmanager weist grundsätzlich kaum Verzerrungen auf - weder exzessive …, unerfahrene Fondsmanager zum Herdenverhalten neigen. In der Untersuchung offenbaren letztere aber keine höhere Risikoaversion, die … im Allgemeinen mit Herdenverhalten assoziiert wird. …

environment in which investors adjusted their portfolios significantly in the aftermath of major events. Potential herding …

. By developing a simple model of trading behavior, we show that the traditionally used herding measure produces biased … German mutual fund market, our measure provides new insights into fund manager herding that would have been undetected under …

-making process. Herding is the deliberate mimicking of the decisions of other agents. Examples of mimicry range from the choice of … restaurant, fash-ion and financial market participants, to academic research. Herding may conjure negative images of irrational … provide a direct test of herding behaviour, namely the extent to which small traders mimic the posi-tions of large speculators …