Artikel
Herd behavior and firm-specific information
The study shows critical roles of firm-specific information on herd behavior, which is underexplored in prior literature, albeit an increasing impact of firm-specific information on asset pricing. The main finding demonstrates that three of four selected measures of firm-specific information (return residual, return skewness, and information discreteness) are associated with the aggregate herd behavior in the Thai equity market. The return residual delineates the greatest impacts in most cases, especially during the financial turbulence periods. Herd behavior with firm-specific information is observed at all times. More importantly, less corporate transparency, more noise trading, large asymmetric risk, and low liquidity are the main drivers of intentional herd behavior.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Cogent Economics & Finance ; ISSN: 2332-2039 ; Volume: 8 ; Year: 2020 ; Issue: 1 ; Pages: 1-19
- Klassifikation
-
Wirtschaft
Information and Market Efficiency; Event Studies; Insider Trading
Behavioral Finance: General‡
Behavioral Finance: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets‡
- Thema
-
behavioral finance
financial crisis
firm-specific information
herd behavior
Thailand
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Chaiyuth Padungsaksawasdi
- Ereignis
-
Veröffentlichung
- (wer)
-
Taylor & Francis
- (wo)
-
Abingdon
- (wann)
-
2020
- DOI
-
doi:10.1080/23322039.2020.1844399
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Chaiyuth Padungsaksawasdi
- Taylor & Francis
Entstanden
- 2020
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