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http://hdl.handle.net/1893/22245| Appears in Collections: | Accounting and Finance Journal Articles |
| Peer Review Status: | Refereed |
| Title: | Investor Mood, Herding and the Ramadan Effect |
| Author(s): | Gavriilidis, Konstantinos Kallinterakis, Vasileios Tsalavoutas, Ioannis |
| Contact Email: | konstantinos.gavriilidis@stir.ac.uk |
| Keywords: | herding social mood Ramadan |
| Issue Date: | Dec-2016 |
| Date Deposited: | 23-Sep-2015 |
| Citation: | Gavriilidis K, Kallinterakis V & Tsalavoutas I (2016) Investor Mood, Herding and the Ramadan Effect. Journal of Economic Behavior and Organization, 132 (Supplement), pp. 23-38. https://doi.org/10.1016/j.jebo.2015.09.018 |
| Abstract: | In view of evidence linking herding and social mood, we examine whether the positive mood documented during Ramadan translates into higher herding compared to non-Ramadan days. Drawing on a sample of seven majority Muslim countries, we report significant herding during Ramadan in most of our sample markets. Additionally, we show that herding appears significantly stronger within rather than outside Ramadan for most tests whereby its significance is manifested on both Ramadan- and non-Ramadan-days. Overall, herding significance within/outside Ramadan exhibits some variation in its levels across markets in relation to variables reflective of market states, both domestically (market returns; market volume) and internationally (US market returns; US investors' sentiment; global financial crisis) market states. |
| DOI Link: | 10.1016/j.jebo.2015.09.018 |
| Rights: | This item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. Accepted refereed manuscript of: Gavriilidis K, Kallinterakis V & Tsalavoutas I (2016) Investor Mood, Herding and the Ramadan Effect, Journal of Economic Behavior and Organization, 132 (Supplement), pp. 23-38. DOI: 10.1016/j.jebo.2015.09.018 © 2015, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/ |
| Licence URL(s): | http://creativecommons.org/licenses/by-nc-nd/4.0/ |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| GKT2015_final submission_Clear.pdf | Fulltext - Accepted Version | 545.01 kB | Adobe PDF | View/Open |
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