EconPapers    
Economics at your fingertips  
 

Does Country Matter to Investor Herding? Evidence from an Intraday Analysis

Tao Chen ()

Journal of Behavioral Finance, 2021, vol. 22, issue 1, 56-64

Abstract: This study uses high-frequency intraday data to investigate country-level intraday herding behavior among global market investors and finds strong evidence of significant herding at the country level. Specifically, we find that traders tend to follow each other from one country to another. Moreover, we find that country-level herding is a combination of informed and uninformed herding, and that the contribution of uninformed herding is approximately five times greater than that of its informed counterpart. Informed country-level herding is primarily motivated by correlated signals, whereas uninformed country-level herding is influenced by momentum trading, style investing, and market pressure.

Date: 2021
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1080/15427560.2020.1716760 (text/html)
Access to full text is restricted to subscribers.

Related works:
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:taf:hbhfxx:v:22:y:2021:i:1:p:56-64

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/hbhf20

DOI: 10.1080/15427560.2020.1716760

Access Statistics for this article

Journal of Behavioral Finance is currently edited by Brian Bruce

More articles in Journal of Behavioral Finance from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2022-11-28
Handle: RePEc:taf:hbhfxx:v:22:y:2021:i:1:p:56-64