This paper investigates the effect of herd behavior, or information cascades, on the willingness to be vaccinated against COVID-19. We use the 2021/2022 wave of the European Social Survey combined with data from the organization Our World in Data and measure the herding behavior as the change in...

This paper investigates the relationship between aggregate market herding and investor attention in seven selected equity markets over the period of 2004-2019. The multinomial logistic regression employed in this study provides a more direct, comprehensive, and straightforward test than other...

Financial studies on the herding effect have been very popular for decades, as detecting herding behavior helps to explain price deviations and market inefficiencies. However, studying the herding effect as a single influencing factor is believed to be insufficient to explain the changes in...

The results reveal significant evidence of herding in the overall, bearish, and extended crisis market phases during extreme downturns, while the magnitude of market returns in the tail distribution is considered. Asymmetric herding behavior is more pronounced and prevalent, conditioned by...

The development of stock markets is pivotal for economic growth, particularly through the mobilization of idle resources into productive investments. Despite recent reforms to enhance Uzbekistan's capital market, public engagement remains limited. This study examines the behavioral determinants...

In response to the scarce evidence regarding herd behaviour in emerging and frontier debt markets, this paper investigates the potential mispricing of MENA sovereign risk. We explore whether this mispricing results from international investor herding, where MENA debt assets are collectively...

Understanding generational differences in herding behavior is crucial for policymakers, financial educators, and market regulators, particularly in emerging markets where retail investor participation is rapidly growing. This study investigates the influence of herding behavior on investment...

This study investigates the influence of FOMO, loss aversion, and herd behavior on gold investment decisions in the Vietnamese market. Employing data collected from 727 investors and the Partial Least Squares Structural Equation Modeling (PLS-SEM) method, the analysis results confirm the pivotal...

Short-selling restrictions are often enacted during financial turmoil to promote market stability, though most research highlights their negative impact on market quality. This study examines the stability and effectiveness of these restrictions in preventing market crashes in an agent-based...

In an environment with extensive corruption where much of the population evades paying their full taxes due, we tackle the question of optimal taxation when constituencies with opposing objectives (the poor and the rich) push tax policy in different directions. We think in terms of a government...

Efficient financial markets are important for pricing assets at fair value. In an efficient market, investors are rational in the face of fast and accurate information flow, evaluate the information correctly, and reflect it in their pricing decisions. However, particularly in times of crisis...

Although the 2022 cryptocurrency market crash prompted despair among investors, the rallying cry, "wagmi" (We're all gonna make it.) emerged among cryptocurrency enthusiasts in the aftermath. Did cryptocurrency enthusiasts respond to this crash differently compared to traditional investors?...

Purpose - This paper examines the factors which impact the behavioral intentions toward cryptocurrency based on signaling theory. Design/methodology/approach - Data were collected through online questionnaire, and responses from 223 individuals in Lebanon were analyzed through SEM technique...

This study explores herding behavior in the cryptocurrency market during three major international crises: the COVID-19 pandemic, the Russia-Ukraine war, and the Palestine-Israel conflict. The study uses daily closing prices of five major cryptocurrencies (Bitcoin, Ethereum, Tether, BNB, and...

Using overlapped portfolio data on public equity funds in Korea, the authors construct several types of fund-stock weighted bipartite networks and measure fund network centrality. The authors also examine the relationship between network centrality and fund investment performance. The authors'...

This paper examines the hypothesis of local herding (i.e. own-area effects) by individual investors on a particular stock-month. Using a unique dataset on online and offline individual investors' trading records in Korea, we analyze buying and selling transactions involving 10,000 accounts from...

As a colossal developing economy, irrational, and inefficient trades broadly exist in China's stock market and are intensified by the once-in-a-century COVID-19 pandemic. This atypical but prominent event enhances systemic risk and requires a more effective analysis tool that adapts to the...