Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/30878
Appears in Collections:Accounting and Finance Journal Articles
Peer Review Status: Refereed
Title: Does mood affect institutional herding?
Author(s): Gavriilidis, Konstantinos
Kallinterakis, Vasileios
Öztürkkal, Belma
Contact Email: konstantinos.gavriilidis@stir.ac.uk
Keywords: Herding
Mood
Fund managers
Turkey
Issue Date: Jun-2020
Citation: Gavriilidis K, Kallinterakis V & Öztürkkal B (2020) Does mood affect institutional herding?. Journal of Behavioral and Experimental Finance, 26, Art. No.: 100290. https://doi.org/10.1016/j.jbef.2020.100290
Abstract: Drawing on a unique data set of daily portfolio holdings for Turkish mutual funds we investigate the relationship between mood and institutional herding on the premises of various established mood proxies (weekend effect; holiday effect; Ramadan; sunshine). Results indicate that fund managers in Turkey herd significantly, with their herding growing in magnitude as the number of active funds per stock rises and appearing stronger on the buy- than the sell-side. Although the relationship of mood with institutional herding occasionally assumes the correct sign as per theoretical expectations, institutional herding is found to be insignificantly different across various mood states, thus denoting that mood does not impact the propensity of fund managers to herd.
DOI Link: 10.1016/j.jbef.2020.100290
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 & Öztürkkal B (2020) Does mood affect institutional herding?. Journal of Behavioral and Experimental Finance, 26, Art. No.: 100290. DOI: https://doi.org/10.1016/j.jbef.2020.100290 © 2020, 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/

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