Investor attention to the Eurozone crisis and herding effects in national bank stock indexes

Jarkko Peltomäki and Emilia Vähämaa

Finance Research Letters, 2015, vol. 14, issue C, 111-116

Abstract: In this study, we investigate the relation between investor attention to the Eurozone crisis and herding effects in national bank stock indexes across Europe. We especially focus on two different groups of European countries: non-EMU member countries and EMU member countries. Our results suggest that an increased investor attention to the Eurozone crisis decreased herding effects in the EMU region in the following week, but the effect was temporary as the effect became the opposite with a two-week lag. Herding effects in the EMU region affected herding effects in the non-EMU region, but not vice versa.

Keywords: Financial crisis; Herding effects; Bank stocks (search for similar items in EconPapers)
JEL-codes: G01 G11 G15 G20 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:14:y:2015:i:c:p:111-116

DOI: 10.1016/j.frl.2015.05.009

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