Some Evidence on 'Herding' Behavior of U.S. Banks

Arvind K Jain and Satyadev Gupta

Journal of Money, Credit and Banking, 1987, vol. 19, issue 1, 78-89

Abstract: The authors examine the international lending decisions of U.S. commercial banks of different sizes from 1977 to 1982 for evidence ofthe ex istence of "herding" behavior. Granger-Sims causality tests for the loans gran ted by the top nine, the next fifteen, and the remaining U.S. banks provide no c lear evidence of herding between the top nine and the next fifteen banks. There is, however, evidence that the remaining banks (mostly small ones) herded behind the top twenty-four banks. Overall, the analysis presented here points to a very weak herding behavior. Copyright 1987 by Ohio State University Press.

Date: 1987
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