Herd behaviour in the Turkish banking sector

This study looks for evidence of investor herding in the Turkish banking sector. We apply the methodology of Chang <italic>et al</italic>. (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.

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Year of publication:	2014
Authors:	Cakan, Esin ; Balagyozyan, Aram
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 21.2014, 2, p. 75-79
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010976418