Herding in Financial Markets During Internet Bubble: An Empirical Analysis

 
9783639181869: Herding in Financial Markets During Internet Bubble: An Empirical Analysis

I analyze herding in one of the largest bull runs in the history of U.S. equity markets. Instead of providing a corrective stabilizing force, banks, insurance firms, investment companies, investment advisors, university endowments, hedge funds, and internally managed pension funds participated in herds in the rise and to a lesser extent in the fall of Internet stocks. Institutional investors’ buying exerted upward price pressure, and the reversal of prices in the subsequent quarter provides evidence that the herding was destabilizing and not based on information. I also design and use two new methodologies to detect herding in NYSE stocks during the bubble period. I find that NYSE functions efficiently and shows no evidence of any meaningful herding in general. The seemingly contradictory results can be reconciled based on the different sample of stocks,and the different methodologies which are designed to detect different types of herding.

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About the Author:

Vivek Sharma is on the faculty of University of Michigan-Dearborn. He received a Ph.D. in Finance from Virginia Tech. after earning an M.B.A. from I.I.M. and B.Tech. from I.I.T in India. He has published in prestigious journals such as Financial Management, Journal of Banking and Finance, Journal of Financial Research, and Macroeconomics Dynamics.

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Book Description Book Condition: New. Publisher/Verlag: VDM Verlag Dr. Müller | An Empirical Analysis | I analyze herding in one of the largest bull runs in the history of U.S. equity markets. Instead of providing a corrective stabilizing force, banks, insurance firms, investment companies, investment advisors, university endowments, hedge funds, and internally managed pension funds participated in herds in the rise and to a lesser extent in the fall of Internet stocks. Institutional investors buying exerted upward price pressure, and the reversal of prices in the subsequent quarter provides evidence that the herding was destabilizing and not based on information. I also design and use two new methodologies to detect herding in NYSE stocks during the bubble period. I find that NYSE functions efficiently and shows no evidence of any meaningful herding in general. The seemingly contradictory results can be reconciled based on the different sample of stocks,and the different methodologies which are designed to detect different types of herding. | Format: Paperback | Language/Sprache: english | 161 gr | 112 pp. Bookseller Inventory # K9783639181869

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Book Description VDM Verlag Dr. Müller E.K. Nov 2012, 2012. Taschenbuch. Book Condition: Neu. Neuware - I analyze herding in one of the largest bull runs in the history of U.S. equity markets. Instead of providing a corrective stabilizing force, banks, insurance firms, investment companies, investment advisors, university endowments, hedge funds, and internally managed pension funds participated in herds in the rise and to a lesser extent in the fall of Internet stocks. Institutional investors buying exerted upward price pressure, and the reversal of prices in the subsequent quarter provides evidence that the herding was destabilizing and not based on information. I also design and use two new methodologies to detect herding in NYSE stocks during the bubble period. I find that NYSE functions efficiently and shows no evidence of any meaningful herding in general. The seemingly contradictory results can be reconciled based on the different sample of stocks,and the different methodologies which are designed to detect different types of herding. 112 pp. Englisch. Bookseller Inventory # 9783639181869

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Book Description VDM Verlag Dr. Müller E.K. Nov 2012, 2012. Taschenbuch. Book Condition: Neu. Neuware - I analyze herding in one of the largest bull runs in the history of U.S. equity markets. Instead of providing a corrective stabilizing force, banks, insurance firms, investment companies, investment advisors, university endowments, hedge funds, and internally managed pension funds participated in herds in the rise and to a lesser extent in the fall of Internet stocks. Institutional investors buying exerted upward price pressure, and the reversal of prices in the subsequent quarter provides evidence that the herding was destabilizing and not based on information. I also design and use two new methodologies to detect herding in NYSE stocks during the bubble period. I find that NYSE functions efficiently and shows no evidence of any meaningful herding in general. The seemingly contradictory results can be reconciled based on the different sample of stocks,and the different methodologies which are designed to detect different types of herding. 112 pp. Englisch. Bookseller Inventory # 9783639181869

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Book Description VDM Verlag Dr. Muller Aktiengesellschaft Co. KG, Germany, 2012. Paperback. Book Condition: New. Language: English . Brand New Book. I analyze herding in one of the largest bull runs in the history of U.S. equity markets. Instead of providing a corrective stabilizing force, banks, insurance firms, investment companies, investment advisors, university endowments, hedge funds, and internally managed pension funds participated in herds in the rise and to a lesser extent in the fall of Internet stocks. Institutional investors buying exerted upward price pressure, and the reversal of prices in the subsequent quarter provides evidence that the herding was destabilizing and not based on information. I also design and use two new methodologies to detect herding in NYSE stocks during the bubble period. I find that NYSE functions efficiently and shows no evidence of any meaningful herding in general. The seemingly contradictory results can be reconciled based on the different sample of stocks,and the different methodologies which are designed to detect different types of herding. Bookseller Inventory # KNV9783639181869

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