1887

n African Finance Journal - Herding behaviour in financial markets : empirical evidence from the Johannesburg Stock Exchange

Volume 19 Number 1
  • ISSN : 1605-9786
USD

 

Abstract

The study tests evidence of herding behaviour in the South Africa’s financial industry using the conventional approaches. In addition, the study adopts the Bayesian linear regression model as an extension of the traditional approaches to estimating the empirical data on daily stock returns from January 2010 to September 2015. With the exception of the insurance sector, we found evidence of herding behaviour in the banking, general financials and real estate sectors under extremely high and low market returns using the conventional approaches only. The financial industry also exhibited the behavioural bias employing the CSAD and the Bayesian regression techniques.

Loading full text...

Full text loading...

Loading

Article metrics loading...

/content/journal/10520/EJC-75a396e24
2017-01-01
2018-09-23

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error