We measure herding of trading activities by regressing individual order imbalances on market wide, industry wide, and … to order imbalances. Investors demand compensations for herding. A 1% increase in the degree of herding this year …

when they make stock recommendations. Our empirical results support the herding hypothesis. Stock price reactions following …

are perceived to be, which leads to typical herding results. In contrast here, analysts' rewards not only depend on their …

We examine herding behavior in the US stock market, employing 30 blue chip companies of the Dow Jones Industrial … common factors that detect and measure the contribution of herding conditional on stylized-fact features of returns. We … document the existence of herding during the recent global financial crisis and its aftermath. Our results have important …

This paper analyzes the presence of herding behavior in the European Futures Carbon Market. This is a blind market in … which the vast majority of investors are institutional. Both features lead us to study the existence of herding under very … pattern analysis shows that herding intensifies with the level of speculation and other behavioral biases like psychological …

Policymakers often express concern that herding by financial market participants destabilizes markets and increases the … behavior in financial markets. It addresses the following questions: What precisely do we mean by herding? What could be the … causes of herd behavior? What success have existing studies had in identifying such behavior? And what effect does herding …

Herding is one of the most important concepts in cognitive economics, especially as applied to financial markets. This … paper presents an interdisciplinary integrative literature review of the herding concept, discusses the salient differences … between different ways of conceptualizing herding, and argues for the advantages of the socionomic perspective on herding, a …

investors' behavior differs between times of market turmoil and tranquil trading periods. Thereby, we take into account herding …