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dc.contributor.authorÇeliker, Umut
dc.contributor.authorChowdhury, J.
dc.contributor.authorSonaer, G.
dc.date.accessioned2015-10-26T09:34:10Z
dc.date.available2015-10-26T09:34:10Z
dc.date.issued2015-03
dc.identifier.issn0378-4266
dc.identifier.urihttp://hdl.handle.net/10679/963
dc.identifier.urihttp://www.sciencedirect.com/science/article/pii/S0378426614003537
dc.descriptionDue to copyright restrictions, the access to the full text of this article is only available via subscription.en_US
dc.description.abstractThis 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.language.isoengen_US
dc.publisherElsevieren_US
dc.relation.ispartofJournal of Banking & Finance
dc.rightsrestrictedAccess
dc.titleDo mutual funds herd in industries?en_US
dc.typeArticleen_US
dc.peerreviewedyesen_US
dc.publicationstatuspublisheden_US
dc.contributor.departmentÖzyeğin University
dc.contributor.authorID(ORCID & YÖK ID 233529) Çeliker, Umut
dc.contributor.ozuauthorÇeliker, Umut
dc.identifier.volume52
dc.identifier.startpage1
dc.identifier.endpage16
dc.identifier.wosWOS:000351961700001
dc.identifier.doi10.1016/j.jbankfin.2014.11.006
dc.subject.keywordsHerdingen_US
dc.subject.keywordsMutual fundsen_US
dc.subject.keywordsIndustry momentumen_US
dc.identifier.scopusSCOPUS:2-s2.0-84919933393
dc.contributor.authorMale1
dc.relation.publicationcategoryArticle - International Refereed Journal - Institutional Academic Staff


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