Herd behaviour in the Turkish banking sector

被引：14

作者：

Cakan, Esin ^{[1
]}

Balagyozyan, Aram ^{[2
]}

机构：

[1] Univ New Haven, Coll Business, Dept Econ, West Haven, CT 06516 USA

[2] Univ Scranton, Kania Sch Management, Dept Econ & Finance, Scranton, PA 18510 USA

来源：

APPLIED ECONOMICS LETTERS | 2014年 / 21卷 / 02期

关键词：

herding behaviour; banking sector; asymmetric behaviour; SECURITY ANALYSTS; STOCK-PRICES; MARKETS; FORECASTS; INVESTORS; IMPACT;

D O I：

10.1080/13504851.2013.842629

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study looks for evidence of investor herding in the Turkish banking sector. We apply the methodology of Chang et al. (2000) to daily stock returns between 2007 and 2012 and find evidence of herding. This result is robust under model specifications that control for market and firm fundamentals. Herding behaviour shows asymmetric effects, and investors herd only in rising markets.

引用

页码：75 / 79

页数：5

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