Publication: Do mutual funds herd in industries?
| dc.contributor.author | Çeliker, Umut | |
| dc.contributor.author | Chowdhury, J. | |
| dc.contributor.author | Sonaer, G. | |
| dc.contributor.department | International Finance | |
| dc.contributor.ozuauthor | ÇELİKER, Umut | |
| dc.date.accessioned | 2015-10-26T09:34:10Z | |
| dc.date.available | 2015-10-26T09:34:10Z | |
| dc.date.issued | 2015-03 | |
| dc.description | Due to copyright restrictions, the access to the full text of this article is only available via subscription. | en_US |
| dc.description.abstract | This study examines whether mutual funds herd in industries and the extent to which such herding impacts industry valuations. Using two herding measures proposed by Lakonishok et al. (1992) and Sias (2004) we document that mutual funds herd in industries. We show that industry herding is not driven by fund flows and that it is not a manifestation of individual stock herding. We also find evidence indicating that herding in industries by mutual funds is related to the industry momentum phenomenon first documented by Moskowitz and Grinblatt (1999), but it does not drive industry valuations away from their fundamentals. | en_US |
| dc.identifier.doi | 10.1016/j.jbankfin.2014.11.006 | |
| dc.identifier.endpage | 16 | |
| dc.identifier.issn | 0378-4266 | |
| dc.identifier.scopus | 2-s2.0-84919933393 | |
| dc.identifier.startpage | 1 | |
| dc.identifier.uri | http://hdl.handle.net/10679/963 | |
| dc.identifier.uri | https://doi.org/10.1016/j.jbankfin.2014.11.006 | |
| dc.identifier.volume | 52 | |
| dc.identifier.wos | 000351961700001 | |
| dc.language.iso | eng | en_US |
| dc.peerreviewed | yes | en_US |
| dc.publicationstatus | published | en_US |
| dc.publisher | Elsevier | en_US |
| dc.relation.ispartof | Journal of Banking & Finance | |
| dc.relation.publicationcategory | International Refereed Journal | |
| dc.rights | info:eu-repo/semantics/restrictedAccess | |
| dc.subject.keywords | Herding | en_US |
| dc.subject.keywords | Mutual funds | en_US |
| dc.subject.keywords | Industry momentum | en_US |
| dc.title | Do mutual funds herd in industries? | en_US |
| dc.type | Article | en_US |
| dspace.entity.type | Publication | |
| relation.isOrgUnitOfPublication | e7fcb811-af49-4ec2-b289-d39850ce6728 | |
| relation.isOrgUnitOfPublication.latestForDiscovery | e7fcb811-af49-4ec2-b289-d39850ce6728 |
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