Market Stress and Herding

By Soosung Hwang, Mark Salmon. 2004

706 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/ff73b42ba356c5a8770c0fbcb4873fecd56cabc0

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Citations in the corpus

Cross-country effects in herding behaviour: Evidence from four south European markets (2011, neutral): “…resulting from this behaviour reduce the effectiveness of the market mechanism to reveal assets’ “fair values”, undermining the fundamental principle of market efficiency (Devenow and Welch, 1996) and potentially creating profitable trading opportunities (Hwang and Salmon, 2004; Tan et al., 2008).”
Dynamic Herding Behavior in Pacific-Basin Markets: Evidence and Implications (2013, methodology): “Detecting herding behavior by investors Conventional studies in the herding literature (Christie and Huang, 1995; Chang et al., 2000; Hwang and Salmon, 2004; Gleason, et al., 2004; Demirer and Kutan, 2006; and Tan et al., 2008) assume that investors act on common beliefs emerging from the market or ”
Cryptocurrency trading: a comprehensive survey (2020, methodology): “Leclair applied herding methods of Huang and Salmon [118] in estimating the market herd dynamics in the CAPM framework.”
Does herding affect volatility? Implications for the Spanish stock market (2012, methodology): “Hence, in recent years various measures have been proposed with a view to overcoming the limitations of past research (Lakonishok et al. 1992, Christie and Huang 1995, Wermers 1999, Chang et al. 2000, Hwang and Salmon 2004, PS 2006).”
Differences in herding: Individual vs. institutional investors (2017, positive): “movement (Hwang and Salmon, 2004; Hwang and Salmon, 2009).”
Impact of Financial Literacy and Behavioural Biases on Investment Decision-making (2021, result): “The results of herd mentality are consistent with Hwang and Salmon (2004), herd behaviour induces to follow actions of other in investment decisions.”
Do Investors Herd in Global Stock Markets? (2013, background): “) In light of Hwang and Salmon [2004], a significant σ 2 mη can be regarded as the evidence to support herding behavior.”
Factors Influencing Individual Investors’ Behavior: An Empirical Study of the Vietnamese Stock Market (2014, background): “(2002) and Hwang and Salmon (2004). The regression coefficient of hypothesis H8 is less than 0, which reveals that when the individual investors’ risk and loss aversion increase, they are be less likely to make investment on the market.”
Impact of herding behavior and overconfidence bias on investors’ decision-making in Pakistan (2019, neutral): “Yao (2010) studied the herding behavior through the trade volume by using Hwang and Salmon (2004) measure on the Toronto Stock Exchange.”
Investor mood, herding and the Ramadan effect (2016, background): “In short, investors herd when they sideline their private signals, choosing to mimic their fellow investors instead (Hwang & Salmon (2004).”