Empirical examination of herding behaviour in the Johannesburg stock exchange : a sectoral analysis

Title: Empirical examination of herding behaviour in the Johannesburg stock exchange : a sectoral analysis
Creator: Ababio, Kofi A., Mwamba, John M.
Subject: Herding behaviour, Financial sector, Asymmetry
Date: 2017
Type: Article
Identifier: http://ujcontent.uj.ac.za8080/10210/386771
Identifier: http://hdl.handle.net/10210/244763
Identifier: uj:25314
Identifier: Citation: Ababio, K.A. & Mwamba, J.M. 2017. Empirical examination of herding behaviour in the Johannesburg stock exchange : a sectoral analysis.
Description: Abstract: This paper uses the daily stock returns from January 2010 to September 2015 to investigate the presence of herding behavior and its dynamics on the South African financial sector. The paper makes use of the median as an alternative proxy to the mean in estimating market average returns. We found evidence in support of herding behaviour in the general financials and the real estate sectors of the Johannesburg Stock Exchange (JSE) during normal market period. Investors in the banking and the insurance sectors were found to show rational investment decisions during all market periods.
Language: English
Rights: ©2017, authors
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