Market sentiment: a key factor of investors' imitative behaviour
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Date
2012
Version
Acceso abierto / Sarbide irekia
Type
Artículo / Artikulua
Version
Versión aceptada / Onetsi den bertsioa
Project Identifier
MICINN//ECO2009-12819-C03-01/ES/ 
Impact
Abstract
The aim of this paper is to explore herding behavior among investors in order to determine its rational and emotional component factors and identify relationships among them. We apply causality tests to evaluate the impact of return and market sentiment on herding intensity. The herding intensity is quantified using the measure developed by Patterson and Sharma (2006). The research was conducted ...
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Subject
Herding,
Stock market,
Behavioral finance,
Sentiment
Publisher
Wiley
Published in
Accounting and Finance 52 (2012) 663–689
Description
This is the peer reviewed version of the following article: Blasco, N., Corredor, P. and Ferreruela, S. (2012), Market sentiment: a key factor of investors’ imitative behaviour. Accounting & Finance, 52: 663–689, which has been published in final form at doi: 10.1111/j.1467-629X.2011.00412.x. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.
Departament
Universidad Pública de Navarra. Departamento de Gestión de Empresas /
Nafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Saila
Publisher version
Sponsorship
The authors acknowledge the financial support of the Spanish Ministry of Science and Innovation (ECO2009-12819), ERDF funds, the Caja de Ahorros of the Inmaculada (Europe XXI Programme), the Government of Aragon and the Government of Navarra.
