bigger herds of funds selling. Our most important finding is that mutual fund herding impacts stock prices to a much larger … recommendation revisions. An investment strategy that accounts for the direction of both analyst revisions and mutual fund herding … results remain robust when we condition fund herding on analyst earnings forecast revisions instead of recommendation …

This paper analyzes the trading activity of Taiwanese open-end equity mutual fund herding behaviour over the period of … 1996 to 2008. We find evidence of both directional and directionless herding. We also find that sell-side fund herding … leads to price stabilization whereas buy side herding results in, prices adjusting slowly. We find that the abolition of …

find strong evidence that mutual funds herd into or out of stocks following the herd of hedge funds: mutual funds' herding … measure is positively related to last quarter's hedge fund herding. In contrast, hedge funds do not follow mutual funds …. Mutual funds' following of hedge funds leads to a sharp price reversal in the next quarter, whereas hedge fund herding itself …