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Herding behavior and information effect of firm's ownership

Mohd Nasarudin, Ahmad Fawwaz and Hanijito, Agus and Amin Noordin, Bany Ariffin and Matemilola, B. T. (2017) Herding behavior and information effect of firm's ownership. The Empirical Economics Letters, 16 (5). pp. 349-355. ISSN 1681-8997

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Following study on macro information on investor’s herding decision by Galariotis et al. (2014), this study question the importance of information dissemination at firm’s level 0n investor’s herding decision. By categorizing firms according to family and non-family ownership, the cross sectional absolute deviation (CSAD) was employed to test the herding existence in 22 different countries. The findings suggest limited herding activity as only Greece, New Zealand and China reported for herding during the study period. As for the conclusion, the study proves that investor do not place high importance on firm’s information dissemination management as relatives to the market announcement.

Item Type: Article (Journal)
Additional Information: 7732/58165
Uncontrolled Keywords: Family Ownership, Fundamental Information, Herding Behavior
Subjects: H Social Sciences > HG Finance > HG4501 Stocks, investment, speculation
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Economics and Management Sciences > Department of Finance
Depositing User: Dr Ahmad Fawwaz Mohd Nasarudin
Date Deposited: 19 Sep 2017 10:02
Last Modified: 06 Nov 2017 02:11
URI: http://irep.iium.edu.my/id/eprint/58165

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