Herd behaviour in foreign exchange market

被引：0
作者：
Yasir A. [1 ]
Safdar U. [1 ]
Javaid Y. [2 ]
机构：
[1] School of Business Administration, National College of Business Administration & Economics, Lahore
[2] ACCA_UK, London
来源：
Journal of Economic Structures | / 11卷 / 1期
关键词：
Asymmetric behaviour; Behavioural finance; Efficient market hypothesis; Herding;
D O I：
10.1186/s40008-022-00270-y
中图分类号：
学科分类号：
摘要：
This study examines the presence of herding behaviour in the forex market of Pakistan. By analysing the daily returns of the top six traded currencies from January 2015 to December 2019, the current research explores the behaviour of investors towards investment in currencies. Data is analysed using the model proposed by Chang et al. (2000). Results of estimation techniques provide evidence of herd behaviour among investors. Findings suggest that investors do not rely on their own decision-making; rather they follow the patterns of others. Furthermore, this imitating behaviour in same in up and down market events. Findings of this study provide significant insights for future researchers about decision-making of investors in forex market. © 2022, The Author(s).
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