Abstract
The study empirically investigates the herd behaviour of investors in the The the Indian equity market. Quantile regression approach is adopted over OLS (ordinary least square). The method proposed by CCK (Chang, Cheng and Khorana, 2000), based on cross sectional absolute deviation is used. An empirical examination of asymmetric effect on returns, high and low trading volume and volatility over daily data period from 2007-2017, shows reverse herding behaviour in the The the Indian equity market. The robustness analysis of large, mid and small cap firms also revealed evidence against herding. However, sub-period analysis of data revealed evidence of herding in many years (2007, 2010 and 2014 etc.). In general herding behaviour is not pervasive in the The the Indian equity market.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.