Herd Behavior in Emerging Equity Markets: Evidence from Vietnam

Xuan Vinh Vo and Dang Bao Anh Phan

Asian Journal of Law and Economics, 2016, vol. 7, issue 3, 369-383

Abstract: This study examines the herd behavior in Vietnam stock market using a sample of firms listed on the Ho Chi Minh City Stock Exchange covering the time period 2005–2015. We find evidence of herding in both rising and falling market employing the common least squares estimation. Further analysis by applying quantile regression method also confirms the evidence of herding during the whole period. The results are robust when we split the data into two sub-periods.

Keywords: asymmetry; herd behavior; quantile regression; Vietnam stock market (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1515/ajle-2016-0020

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