EXAMINATION OF HERDING BEHAVIOR OF INVESORES IN TEHRAN STOCK EXCHANG WITH RETURN DIS PERSIONS DURING 1380-1384

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

ESLAMI BIDGOLI GH.R.; SHAHRIARI SARA

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: THE IRANIAN ACCOUNTING AND AUDITING REVIEW Year:2007 | Volume:14 | Issue:49 Page(s): 25-44

Download Full-Text

Persian Verion

View:

3,081

Download:

Cites:

Information Journal Paper

Title

EXAMINATION OF HERDING BEHAVIOR OF INVESORES IN TEHRAN STOCK EXCHANG WITH RETURN DIS PERSIONS DURING 1380-1384

Author(s)

ESLAMI BIDGOLI GH.R. | SHAHRIARI SARA | Issue Writer Certificate

Keywords

AGGREGATE MARKET RETURNQ2

EQUITY RETURNS DISPERSIONQ3

HERDING BEHAVIORQ3

TEHRAN STOCK EXCHANGEQ3

Abstract

This paper examines the presence of HERDING BEHAVIOR of investors in TEHRAN STOCK EXCHANGE (TSE). Primary evidence denoted that, investors in TSE tend to suppress their private information and mimic the actions of other investors, rather than use quantitative techniques to assess stock value and make investment choices. We examine the HERDING BEHAVIOR in TSE with two models. We analyze the behavior of return dispersions during periods of unusually large upward and downward changes in the market index with daily, weekly and monthly data. Our findings indicate that herd formation does not exist in upward markets, but we find evidence of herding in down markets. However, comparing return dispersions for upside and downside movements of the market, we observe that return dispersions during extreme downside movements of the market are much lower than those for upside movements, indicating that stock returns behave more similarly during down markets. We didn't find any evidence of HERDING BEHAVIOR with weekly and monthly data. The dispersion measure increases with the return interval. The weak evidence of HERDING BEHAVIOR displayed in weekly and monthly data is consistent with the observation by Christie and Huang (1995) that “herd behavior is a very short-lived phenomenon”.

Cites

References

Cite

APA: Copy

SHAHRIARI, SARA, & ESLAMI BIDGOLI, GH.R.. (2007). EXAMINATION OF HERDING BEHAVIOR OF INVESORES IN TEHRAN STOCK EXCHANG WITH RETURN DIS PERSIONS DURING 1380-1384. THE IRANIAN ACCOUNTING AND AUDITING REVIEW, 14(49), 25-44. SID. https://sid.ir/paper/8182/en

Vancouver: Copy

SHAHRIARI SARA, ESLAMI BIDGOLI GH.R.. EXAMINATION OF HERDING BEHAVIOR OF INVESORES IN TEHRAN STOCK EXCHANG WITH RETURN DIS PERSIONS DURING 1380-1384. THE IRANIAN ACCOUNTING AND AUDITING REVIEW[Internet]. 2007;14(49):25-44. Available from: https://sid.ir/paper/8182/en

IEEE: Copy

SARA SHAHRIARI, and GH.R. ESLAMI BIDGOLI, “EXAMINATION OF HERDING BEHAVIOR OF INVESORES IN TEHRAN STOCK EXCHANG WITH RETURN DIS PERSIONS DURING 1380-1384,” THE IRANIAN ACCOUNTING AND AUDITING REVIEW, vol. 14, no. 49, pp. 25–44, 2007, [Online]. Available: https://sid.ir/paper/8182/en

Related Journal Papers