The Gregarious Behavior in Financial and Non-Financial Sectors
The Gregarious Behavior in Financial and Non-Financial Sectors
Author(s): Andreea-Maria Pece, Maria-Miruna Pochea, Angela Maria FilipSubject(s): Financial Markets
Published by: Alma Mater & Universitatea »Babes Bolyai« Cluj - Facultatea de St. Economice si Gestiunea Afacerilor
Keywords: gregarious behavior; financial crisis; cross-sectional absolute deviation of return
Summary/Abstract: The aim of this paper is to investigate the gregarious behavior of investors in ten Central and East European (CEE) stock markets during January 2, 2003 to December 31, 2013 and to assess the impact of the recent global financial crisis (GFC) on the degree of mimicry based on the intuitive assumption that gregarious behavior is more intensive during extreme market movements. We find weak evidence of gregarious behavior over the analyzed period and confirm that the GFC affected the gregarious behavior on CEE markets.
Journal: Review of Economic Studies and Research Virgil Madgearu
- Issue Year: IX/2016
- Issue No: 1
- Page Range: 131-140
- Page Count: 10
- Language: English
- Content File-PDF