Herding in the German Mutual Fund Industry

By A. Walter, F. Weber. 2006

198 citations recorded by the source corpus.

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A cross-country analysis of herd behavior in Europe (2014, unknown): “…aggregate market data analysis (e.g., Christie and Huang, 1995; Chang et al., 2000; Hwang and Salmon, 2004; and Wang, 2008) and, second, researchers using data analysis for portfolio investors (e.g., Lakonishok et al., 1992; Wermers, 1999; Trueman, 1994; Welch, 2000; and Walter and Weber, 2006).”
Empirical Study: Do Fund Managers Herd to Counter Investor Sentiment? (2012, background): “Recently, several studies note that this herding phenomenon (simultaneously trade the same stocks in the same direction) even exists in the behavior of institutional investors (Choe, Kho, and Stulz, 1999; Grinblatt, Titman, and Wermers, 1995; Kyrolainen and Perttunen, 2003; Lakonishok, Shleifer, and”
Firm specific and macro herding by professional and amateur investors and their effects on market volatility (2011, background): “Walter and Weber (2006) investigate herding behavior in German mutual funds, and find some evidence that managers of those funds tend to herd and exhibit positive feedback trading patterns.”