The objectives of this paper are to explore the herd behavior in the Karachi Stock Exchange (KSE) by using Ordinary Least Square (OLS) and Quantile Regression analysis for normal as well as bullish (up) and bearish(down) market conditions. Greed stimulates people to make increasingly risky...

The study uses panel regression analysis to find out the herding behavior around macroeconomic announcement by using daily data of KSE-100 index return along with stock return of 249 listed companies and five macroeconomic announcements over the period from 2003-2013. The main purpose of the...