Galariotis, Emilios C.; Rong, Wu; Spyrou, Spyros I. - In: Journal of Banking & Finance 50 (2015) C, pp. 589-598
This paper tests for herding towards the market consensus for US and UK leading stocks, and to the best of our knowledge addresses a gap in the literature regarding the importance of major fundamental macroeconomic announcements. The results indicate that US investors tend to herd during days...