This paper first extends Sias (2004) to examine whether UK fund managers are engaged in herding behaviours in the stock … market, their reasons for herding, whether their herding behaviours are different during bullish and bearish periods and … whether or not their herding behaviours are informational. Our results demonstrate that UK fund managers' cascades primarily …

This paper analyzes the trading activity of Taiwanese open-end equity mutual fund herding behaviour over the period of … 1996 to 2008. We employ the herding measure suggested by Wermers (1999) and find strong evidence of both directional and … directionless herding activities, and also of positive feedback trading by mutual fund managers in Taiwan. Our results show a …

This paper investigates herding behaviors in U.S treasury markets. We document novel evidence that mutual funds exhibit … strong herding behaviors on trading long-term treasuries. This “term-structure” herding is only pronounced for buy herding …, not sell herding. The relationship between herding and time-to-maturity is stronger for funds with high fund flow …

This paper analyzes the trading activity of Taiwanese open-end equity mutual fund herding behaviour over the period of … 1996 to 2008. We find evidence of both directional and directionless herding. We also find that sell-side fund herding … leads to price stabilization whereas buy side herding results in, prices adjusting slowly. We find that the abolition of …

Using the herding measures of Lakonishok, Shleifer and Vishny (1992) (LSV) and Frey, Herbst and Walter (2007) (FHW), we … assess herding by French equity mutual funds between 1999 and 2005. We show that LSV herding amounts to 6.5% while FHW … herding is about 2.5 times stronger. We observe that herding is stronger in small than in medium and large capitalization …

. The results, a negative measure of herding equal to -5%, imply that SWFs do not herd across industries. Indeed they tend …