We introduce a new measure of herding that allows for tracking dynamics of individual herding. Using a database of nearly 8 million trades by 87,373 retail investors between 1999 and 2006, we show that individual herding is persistent over time and that past performance and the level of...

This article intends to provide answers concerning what drives individual investor herding behavior. Our empirical study uses transaction records of 87,373 French individual investors for the period 1999-2006. In a ?first part, we show - using both the traditional Lakonishok et al. (1992) and...

This article intends to provide answers concerning what drives individual investor herding behavior. Our empirical study uses transaction records of 87,373 French individual investors for the period 1999-2006. In a Örst part, we show - using both the traditional Lakonishok et al. (1992) and the...