This paper analyzes the trading activity of Taiwanese open-end equity mutual fund herding behaviour over the period of … 1996 to 2008. We employ the herding measure suggested by Wermers (1999) and find strong evidence of both directional and … directionless herding activities, and also of positive feedback trading by mutual fund managers in Taiwan. Our results show a …

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 …

. The results, a negative measure of herding equal to -5%, imply that SWFs do not herd across industries. Indeed they tend …

initially we find no evidence of herding. When, however, we condition on the daily liquidity of stocks we find significant …-periods. The only exception is Germany for which there is very weak evidence of herding. Variance decomposition tests indicate that …

fund style index returns using four techniques, we show that perceptions of herding may differ based on the choice of …This paper examines herding among hedge fund styles and uncovers new intuitions about the industry. By examining hedge …

We study the price impact of daily institutional herding induced by information events. Using analyst recommendation … changes as a proxy, we find that institutional herding on recommendation changes is short–lived. Daily institutional herding …, on average, destabilizes price. However, herding accompanied by information arrival has the opposite effect. We find no …

I study hedge fund herding patterns in currency futures contracts and find evidence of herding. High-interest (low …-interest) currencies exhibit higher buy-side (sell-side) herding, consistent with carry trade positions. A strategy herding measure is then … proposed that is used to track hedge fund herding in the carry trade strategy. I find that hedge fund carry trade strategy …

Exiting studies document that institutional herding has a stabilizing effect on stock prices, as stock returns over one …- to three-quarter horizons are positively correlated with herding. The literature also shows that short-term institutions … herding. Our results show that herding by short-term institutions promotes price discovery. In contrast, herding by long …

between mood and institutional herding on the premises of various established mood proxies (weekend effect; holiday effect … significantly, with their herding growing in magnitude as the number of active funds per stock rises and appearing stronger on the … buy- than the sell-side. Although the relationship of mood with institutional herding occasionally assumes the correct …