IDEAS home Printed from https://ideas.repec.org/a/epw/ejbmr0/v5y2020i2id50250.html

Analysis of Investors Herding Behaviour: An Empirical Study from Istanbul Stock Exchange

Author

Listed:
  • Ali Mohammed Adem

    (Istanbul University, Turkey.)

  • Serra Eren Sarıoğlu

    (Istanbul University, Turkey.)

Abstract

This study investigates the existence of herding behavior in Istanbul Stock Exchange using a narrow index for the period between January 1, 2000 and December 31, 2018. Besides, the study tests herding behavior of investors during high and low volatility periods. The data is collected from Finnet and it contains daily, weekly and monthly return data. The study uses both CSSD and CSAD models. The finding of the study shows that herding is more prevalent when the market falls and from the three data type it is more prevalent in the daily data. This shows that investors behave rationally when the market rises and they become irrational when the market falls. On the other hand, the level of herding is considerably significant during high market volatility periods. Therefore, we conclude that there is aymmetrical investor behavior in Istanbul Stock Exchange.

Suggested Citation

  • Ali Mohammed Adem & Serra Eren Sarıoğlu, 2020. "Analysis of Investors Herding Behaviour: An Empirical Study from Istanbul Stock Exchange," European Journal of Business and Management Research, European Open Science, vol. 5(2), March.
    • Handle: RePEc:epw:ejbmr0:v:5:y:2020:i:2:id:50250
    DOI: 10.24018/ejbmr.2020.5.2.250
    as

    Download full text from publisher

    File URL: https://eu-opensci.org/index.php/ejbmr/article/view/50250
    File Function: Abstract page
    Download Restriction: no
    File URL: https://eu-opensci.org/index.php/ejbmr/article/download/50250/6852
    File Function: Full text
    Download Restriction: no
    File URL: https://libkey.io/10.24018/ejbmr.2020.5.2.250?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

    ;
    ;
    ;

    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:epw:ejbmr0:v:5:y:2020:i:2:id:50250. 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: Support Team (email available below). General contact details of provider: https://eu-opensci.org/index.php/ejbmr .

    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.