This paper studies the added value of intentional style herding for mutual fund managers. We find that herding in … styles is significant and persistent, especially for active funds. We also report that herding tends to increase after … periods of high market volatility, and decrease with sentiment. Furthermore, herding causes temporary mispricing and changes …

We study intentional herding in investment styles by mutual funds, and its consequences. We find that style herding is … significant and persistent, especially for active funds. Herding tends to increase after periods of high market volatility and … decrease with sentiment, consistent with the intentional character of herding. Furthermore, we find that herding is related to …

We study intentional herding in investment styles by mutual funds, and its consequences. We find that style herding is … significant and persistent, especially for active funds. Herding tends to increase after periods of high market volatility and … decrease with sentiment, consistent with the intentional character of herding. Furthermore, we find that herding is related to …