The objective of this paper is to investigate herding behavior in the Brazilian stock mutual funds. Through the study … of the 100 largest funds of the category, between September/2004 and July/2008, two herding indexes are analyzed: (i) the … and Walter (2007). Results of the research suggest the existence of herding behavior in the Brazilian stock mutual funds …

Using the herding measures of Lakonishok, Shleifer and Vishny (1992) (LSV) and Frey, Herbst and Walter (2007) (FHW), we … assess herding by French equity mutual funds between 1999 and 2005. We show that LSV herding amounts to 6.5% while FHW … herding is about 2.5 times stronger. We observe that herding is stronger in small than in medium and large capitalization …