This study investigates the role of financial market uncertainty in institutional herding and its impact on stock … prices. We show that financial market uncertainty is a determinant of institutional herding. Fund managers tend to follow the … trades of other managers more frequently during high uncertainty periods than low uncertainty periods. We find that herding …

individuals' cognitive profiles to explain investors' herding behavior. Design/methodology/approach – The authors designed and … conducted an experiment to observe the behavior of subjects in three settings, each with a different level of information …. Findings – Results confirm that a dependence relation exists between information, investors' behavioral biases and the herding …