Showing 1 - 3 of 3
This paper proposes a methodological improvement to empirical studies of herd behavior based on investor transactions. By developing a simple model of trading behavior, we show that the traditionally used herding measure produces biased results. As this bias depends on characteristics of the...
Persistent link: https://www.econbiz.de/10010906340
Persistent link: https://www.econbiz.de/10011299794
This paper proposes a methodological improvement to empirical studies of herd behavior based on investor transactions. By developing a simple model of trading behavior, we show that the traditionally used herding measure produces biased results. As this bias depends on characteristics of the...
Persistent link: https://www.econbiz.de/10012707857