Herding towards carbon neutrality: The role of investor attention

Guiqiang Shi, Dehua Shen and Zhaobo Zhu

International Review of Financial Analysis, 2024, vol. 91, issue C

Abstract: This paper explores the herding towards carbon neutrality in the Chinese stock market. We find that herding towards carbon neutrality does dynamically exist. Specifically, herding is pronounced during the bear markets and market stress periods. 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
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:91:y:2024:i:c:s1057521923005653

DOI: 10.1016/j.irfa.2023.103049

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