کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5075375 1373902 2010 14 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Empirical investigation of herding behavior in Chinese stock markets: Evidence from quantile regression analysis
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
پیش نمایش صفحه اول مقاله
Empirical investigation of herding behavior in Chinese stock markets: Evidence from quantile regression analysis
چکیده انگلیسی
This study examines the herding behavior of investors in Chinese stock markets. Using a least squares method, we find evidence of herding within both the Shanghai and Shenzhen A-share markets and no evidence of herding within both B-share markets. A-share investors display herding formation in both up and down markets. However, we cannot find herding activity for B-share investors in the up market. By applying quantile regression analysis to estimate the herding equation, we find supporting evidence of herding behavior in both A-share and B-share investors conditional on the dispersions of returns in the lower quantile region.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Global Finance Journal - Volume 21, Issue 1, 2010, Pages 111-124
نویسندگان
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