This study investigates the role of financial market uncertainty in institutional herding and its impact on stock … prices. We show that financial market uncertainty is a determinant of institutional herding. Fund managers tend to follow the … trades of other managers more frequently during high uncertainty periods than low uncertainty periods. We find that herding …

This paper studies the herding behavior in managers' investment decision; Herding", specifically, is defined as … influenced greatly by this external benchmark - most of the case they would herd. This resulted herding behavior comes out under …