Herding Behavior in the Moroccan Stock Exchange

被引：8

作者：

Ferrouhi, El Mehdi ^{[1
]}

机构：

[1] Ibn Tofail Univ, Fac Law Econ & Social Sci, Kenitra, Morocco

来源：

JOURNAL OF AFRICAN BUSINESS | 2021年 / 22卷 / 03期

关键词：

Herding behavior; Casablanca Stock Exchange; volatility; liquidity; Cross & xfeff; -Sectional Absolute Deviation; LIQUIDITY; MARKETS;

D O I：

10.1080/15228916.2020.1752598

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper aims to examine the existence of herding behavior in the Moroccan Stock Exchange for the period 2007-2017. Thus, we analyze the existence of herding behavior in the overall market and in each one of the four portfolios created according to firms' capitalizations. We also estimate the impact of liquidity, volatility and asymmetric market states on herding behavior. Results obtained show the existence of herding behavior in the overall market and in all size-based portfolios. Also, results show a positive impact of liquidity and volatility on investors' herding behavior for the four portfolios and for the overall market.

引用

页码：309 / 319

页数：11

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