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 …

Many studies on mutual funds have demonstrated the existence of herding behavior and positive feedback trading. However …, most research has not examined the characteristics of herding behavior, but simply attempted to determine if herding … behavior exists. These studies fail to probe into the actual causes behind herding behavior. The current study fills this gap …