Title: Research on the Difference of the Herding Bebavior of Institutional Investors and Individual Investors
Abstract: This article analyzes the difference of the herding behavior of institutional investors and individual investors by using the data on the 180 index constituent stocks and top viewinvestors' holding stocks with the way by measuring cross sectional standard deviation of trading volume. The authors explain the above phenomena with asymmetric information,this indicates that the herding behavior of institutional investors is the result of full use of information,but individual investors maybe behave more irrationally.
Publication Year: 2010
Publication Date: 2010-01-01
Language: en
Type: article
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