IDEAS home Printed from https://ideas.repec.org/a/eee/beexfi/v41y2024ics2214635024000091.html
   My bibliography  Save this article

Intraday herding and attention around the clock

Author

Listed:
  • Scharnowski, Stefan
  • Shi, Yanghua

Abstract

This paper analyzes the relationship between investor herding and attention in the decentralized cryptocurrency market with its continuous, around the clock trading and large share of retail investors. Herding behavior is stronger when market returns are positive but is negatively related to both the level and cross-sectional dispersion of investor attention. Moreover, there are pronounced intraday variations: Herding exhibits similar patterns as attention and blockchain activity and is strongest during the overlap of hours when traders in major economic centers are likely awake.

Suggested Citation

  • Scharnowski, Stefan & Shi, Yanghua, 2024. "Intraday herding and attention around the clock," Journal of Behavioral and Experimental Finance, Elsevier, vol. 41(C).
    • Handle: RePEc:eee:beexfi:v:41:y:2024:i:c:s2214635024000091
    DOI: 10.1016/j.jbef.2024.100894
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S2214635024000091
    Download Restriction: no
    File URL: https://libkey.io/10.1016/j.jbef.2024.100894?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Herding; Investor attention; Attention dispersion; Cryptocurrency; Bitcoin;
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
    • G40 - Financial Economics - - Behavioral Finance - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:beexfi:v:41:y:2024:i:c:s2214635024000091. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.journals.elsevier.com/journal-of-behavioral-and-experimental-finance .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.