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The Impact of Herding Behavior on Stock Mispricing: The Case of Listed Companies at the Egyptian Exchange

Author

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  • Nader Alber

    (Ain Shams University, Egypt)

  • Ehab Ezzat

    (Suez Canal University, Egypt)

Abstract

This paper aims at examining the impact of herding behavior on stock mispricing. Herding behavior is measured by Cross Sectional of Standard Deviation (CSSD), while stock mispricing is measured by the difference between the market value and intrinsic value of stock. This has been conducted using a sample of 24 companies are listed at the Egyptian exchange during the period from 2002 to 2018. Results indicate there is a significant effect of herd behavior on stock mispricing in a bivariate context, while the effect remains significant, even after controlling for inflation rate and discount rate. Besides, the discount rates don’t seem to have any significant effects on stock mispricing.

Suggested Citation

  • Nader Alber & Ehab Ezzat, 2021. "The Impact of Herding Behavior on Stock Mispricing: The Case of Listed Companies at the Egyptian Exchange," European Journal of Business and Management Research, European Open Science, vol. 6(4), pages 7-10, July.
    • Handle: RePEc:epw:ejbmr0:v:6:y:2021:i:4:id:50917
    DOI: 10.24018/ejbmr.2021.6.4.917
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