Study on Impact of Investor’s Herd Behavior on Corporation Investment Behavior

Hai-ming Wang () and Zeng De-ming
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Hai-ming Wang: Hunan University
Zeng De-ming: Hunan University

Chapter Chapter 54 in The 19th International Conference on Industrial Engineering and Engineering Management, 2013, pp 527-534 from Springer

Abstract: Abstract From the perspective of investor irrationality, this paper empirically analyzes the effect of investors’ herd behavior on corporate investment behavior. The empirical results show that the buyer’s herd behavior has positive effect on the level of corporate investment, and the seller’s herd behavior has inhibitory effect on the level of corporate investment. The degree of influence on corporate investment varies between the buyer’s herd behavior and that of the seller’s.

Keywords: Corporate investment behavior; Equity financing; Herd behavior; Investor irrationality (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-38391-5_54

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DOI: 10.1007/978-3-642-38391-5_54

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