Popescu, Marius; Xu, Zhaojin - In: Journal of Financial Research 37 (2014) 3, pp. 295-322
type="main" xml:lang="en" <title type="main">Abstract</title> <p>We examine the reputational herding hypothesis and provide evidence that institutional investors' career concerns contribute to herding behavior. Our analysis is based on the intuition that stronger (weaker) career concerns lead to a higher (lower) propensity...</p>