Research in Finance has revealed the presence of higher hearding levels in emerging capital markets compared to their developed counterparts. However, although emerging markets are often typified by thin trading, the latter has never been accounted for in herding estimations. We address this...

Purpose – The purpose of this paper is to examine whether the mandatory adoption of International Financial Reporting Standards (IFRS) has produced an impact on the level of noise trading and volatility dynamics in three major central and eastern European (CEE) markets....

This paper investigates the extent to which institutional herding at the industry level is motivated by intent. We assess intent using both market and sector states based on three variables (returns; volatility; volume), in order to gauge whether herding intent is more relevant to conditions...

Emerging markets have been found to accommodate higher herding levels compared to their developed counterparts, yet very little attention has been drawn to the possible impact of thin trading over herding estimations, even though these markets are often typified by thin trading. We address this...

This study investigates the extent to which ETFs' premiums and discounts motivate feedback trading in emerging markets' ETFs. Using a sample of the first-ever launched broad-index ETFs from four emerging markets (Brazil, India, South Africa and South Korea), we produce evidence denoting that...

This study investigates in the context of the Euronext, whether joining an exchange group affects herding in the group's member-markets and if this effect persists when accounting for various domestic and international market states, the dynamics of the group's member-markets and the outbreak of...

A large amount of studies have attempted to trace the presence of herding during extreme periods at the cross-sectional level by associating herding with the reduction in the cross-sectional dispersion of returns around the market average. In this article we address the issue of whether the...

Purpose – The purpose of this paper is to examine whether the mandatory adoption of International Financial Reporting Standards (IFRS) has produced an impact on the level of noise trading and volatility dynamics in three major central and eastern European (CEE) markets....

Purpose – The purpose of this paper is to present and empirically test for the first time the hypothesis that herding in a market increases following the market's merger in an exchange group. Design/methodology/approach – The hypothesis is tested empirically in EURONEXT's four European...