Herding towards carbon neutrality: The role of investor attention

Guiqiang Shi, Dehua Shen and Zhaobo Zhu ()
Additional contact information
Guiqiang Shi: NKU - Nankai University
Zhaobo Zhu: Audencia Business School

Post-Print from HAL

Abstract: This paper explores the herding towards carbon neutrality in the Chinese stock market. We find that herding towards carbon neutrality does dynamically exist in the Chinese stock market. Specifically, herding is pronounced during the bear markets and market stress periods such as the post-COVID-19 period. There is a size effect for the herding behavior. Investor attention could significantly decrease the magnitude of herding. Our results hold in various robustness tests. This paper provides some important implications on the style investing, fads, and carbon neutrality.

Keywords: Herding; Carbon neutrality; Investor attention; Cross-sectional volatility (search for similar items in EconPapers)
Date: 2024-01-01
New Economics Papers: this item is included in nep-ene, nep-env and nep-fmk
Note: View the original document on HAL open archive server: https://hal.science/hal-04348526
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in International Review of Financial Analysis, 2024, 91

Downloads: (external link)
https://hal.science/hal-04348526/document (application/pdf)

Related works:
Journal Article: Herding towards carbon neutrality: The role of investor attention (2024)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04348526

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().