[PDF] Top 20 Herd Behavior in Equity Markets - The International Evidence

... the evidence suggests that participants in financial market do not exhibit significant herd behavior and that the tendency to herd is highly correlated with a manager’s tendency to pursue ... See full document

... Indian equity market cap to touch USD ...Asian markets on account of certain characteristics like diverse investor types, transaction costs, investment patterns and information disclosure ...Indian ... See full document

... a herd flee when they see others in the herd starting to stampede, even though they do not sense the presence of a predator or an ...to herd becomes particularly ...investors herd out of ... See full document

... Until 2012, Turkey’s gold reserves had a share below 10% in its total reserves, fluctuated in between 4-6%, as depicted in the Figure 1. Beginning from 2012, it increased steadily from 12% to its highest level of 22% in ... See full document

... on international capital flowed to developing and emerging economies as an engine of economic ...capital markets was extensively demonstrated by the global financial crisis of 2007 hence placing urgency on ... See full document

... It is now well established in the finance literature that price discontinuities or jumps should be taken into account when studying asset price dynamics and allocating funds across assets (Bekaert et al., 1998; Das and ... See full document

... For KLCI, FIN, IND and PRP indices, the pre-period analysis included the events such as the Asian financial and currency crises. Exceptional, only the PLN index indicated short-range dependence with the value 0.4490 in ... See full document

... foreign equity investors will hedge their equity purchases against currency risk and take no actions regarding past FX ...foreign equity investors have no essential impact on FX markets and ... See full document

... are evidence of the changing dynamics of investor behavior as they respond to varying risks in the two markets and they highlight the importance of equity return parity for global investors as ... See full document

... no evidence in favor of contagion during the Mexican crisis, but show that the Asian crisis was characterized by large movements of ...of equity markets of 55 countries during the 2007-09 financial ... See full document

... herding behavior of investors in an entirely new asset class, futures, in Indian futures ...traded equity futures contracts, a part of futures and options segment of National Stock Exchange (NSE, India) ... See full document

... financial markets for the earlier years in their development were thought not to be fully developed when analyzed by the criteria developed by financial economists using criteria for analyzing Western ... See full document

... financial markets, herding is usually defined as the behavior of an investor to imitate the observed actions of others or the movements of market instead of following his own beliefs and ...the herd ... See full document

... CCK, herd behavior occurs during periods of extreme fluctuation of asset returns and the presence of herd behavior in the financial market should make CSSD and CSAD relatively ...the ... See full document

... The 1990s witnessed a series of major international financial crises, e.g., in Mexico in 1995, Southeast Asia in 1997-8, Russia in 1998 and Brazil in 1998- 9. These episodes have revived interest among economists ... See full document

... bearish markets proves unquestionably the existence of herding regardless of the fact that the equation is estimated during the bullish and bearish ...stronger evidence of herding in particular during ... See full document

... identify herd behavior and contrarian behavior in the process, they presented the definition “An informed trader engages in cascade behavior if he chooses the same action independently of the ... See full document

... adds evidence that the QE caused reduction in the equity risk premium for the S&P500 using VAR, which led to increase in the equity prices of ...stock markets from 2003 to ...the ... See full document

... Research methodology deals with a systematic and scientific methods that can be adopted to solve research problems. Methodology is a crucial step in any research because it directly influences the whole research and its ... See full document

... for international investors, but also for the added benefit that the growth of the equity market spills over positively to the overall growth of the ... See full document