is a dynamic mutual effect between investors' interaction network mode and herding behavior, which is reflected in both … interaction network motif degree P1 and herding behavior. In terms of the volatility level, there is an interactive relationship … between motif degree P1, P2 and herding behavior, showing a significant two-way volatility spillover effect …

and Khorana (2000), we find robust evidence of herding in both the up and down markets. We contribute to the existing … literature by exploring the underlying reasons for herding in China. It is shown that analyst recommendation, short-term investor … horizon, and risk are the principal causes of herding. However, we cannot find evidence that relates herding to firm size, nor …

This paper examines the presence of herd formation in Chinese markets using both individual firm- and sector-level data … herd formation does not exist in Chinese markets. We find that equity return dispersions are significantly higher during … those for upside movements, indicating that stock returns behave more similarly during down markets. The findings support …