. Higher risk taking may be explained by a higher degree of overconfidence, less herding behavior, or a lower degree of risk … of previous studies, we find that herding is decreasing with experience while the evidence concerning risk taking and … overconfidence is mixed. We will argue that this mixed evidence may be likely due to the heterogeneity in the employed definitions of …

Informationsstandes verbunden zu sein. Das Anlageverhalten der Fondsmanager weist grundsätzlich kaum Verzerrungen auf – weder exzessive …, unerfahrene Fondsmanager zum Herdenverhalten neigen. In der Untersuchung offenbaren letztere aber keine höhere Risikoaversion, die … im Allgemeinen mit Herdenverhalten assoziiert wird. …

Informationsstandes verbunden zu sein. Das Anlageverhalten der Fondsmanager weist grundsätzlich kaum Verzerrungen auf - weder exzessive …, unerfahrene Fondsmanager zum Herdenverhalten neigen. In der Untersuchung offenbaren letztere aber keine höhere Risikoaversion, die … im Allgemeinen mit Herdenverhalten assoziiert wird. …

This paper investigates herding behaviors in U.S treasury markets. We document novel evidence that mutual funds exhibit … strong herding behaviors on trading long-term treasuries. This “term-structure” herding is only pronounced for buy herding …, not sell herding. The relationship between herding and time-to-maturity is stronger for funds with high fund flow …

three new findings. First, foreign mutual funds are more sensitive to global financial conditions and engage more in herding …

inferior investment despite the presence of a more profitable alternative. This herding behavior is driven by the managers …

where institutions herd in the same direction as earnings surprises. In fact, institutional herding is also positively … related to next-quarter earnings announcement returns. We provide evidence that institutional herding on or against earnings …