Herding Behavior and Market Conditions: Empirical Evidence from Bombay Stock Exchange, India.
Goel, Payal
Herding Behavior and Market Conditions: Empirical Evidence from Bombay Stock Exchange, India. - 7-24 p. - IUP Journal of Applied Economics XVIII (4) .
The study seeks to investigate how market participants behave, with special reference to herd behavior wherein investors imitate the investment patterns of their fellow investors. It further explores the magnitude of such behavior not only during normal circumstances, but also during severe upswings and intense downturns, with special focus on the Indian stock market. Two most extensively time-honored models given by Christie and Huang (1995) and Chang et al. (2000) have been applied to examine the herding component by scrutinizing the wide dispersions of the security returns as regards the standard market model on a large dataset of monthly returns of BSE 500 index for a period of 18 years, i.e., from April, 2000 to March, 2018. The study found absence of herding behavior in the Indian stock market. [ABSTRACT FROM AUTHOR]
Stock exchanges Marketing models
Herding Behavior and Market Conditions: Empirical Evidence from Bombay Stock Exchange, India. - 7-24 p. - IUP Journal of Applied Economics XVIII (4) .
The study seeks to investigate how market participants behave, with special reference to herd behavior wherein investors imitate the investment patterns of their fellow investors. It further explores the magnitude of such behavior not only during normal circumstances, but also during severe upswings and intense downturns, with special focus on the Indian stock market. Two most extensively time-honored models given by Christie and Huang (1995) and Chang et al. (2000) have been applied to examine the herding component by scrutinizing the wide dispersions of the security returns as regards the standard market model on a large dataset of monthly returns of BSE 500 index for a period of 18 years, i.e., from April, 2000 to March, 2018. The study found absence of herding behavior in the Indian stock market. [ABSTRACT FROM AUTHOR]
Stock exchanges Marketing models