An analysis of herd behavior in Latin American stock markets

This research investigates whether the major stock markets in Latin America (Brazil, Mexico, Chile, Colombia, Peru and Argentina) exhibited herd behavior over the period January 2, 2002 to June 30, 2014, using the variation in the returns overall and by sector in the most representative stock market...

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Veröffentlicht in:	Ecos de economía 2016-01, Vol.20 (42), p.4-18
Hauptverfasser:	Juan Benjamín Duarte Duarte, Garcés Carreño, Laura Daniela, Katherine Julieth Sierra Suárez
Format:	Artikel
Sprache:	eng
Schlagworte:	Behavior C31 G14 G15 Herd Behavior Investors Latin America Stock Markets Return on investment Securities markets Stock exchanges Stock market indexes Trends Variation in Returns Zoos
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Beschreibung
Zusammenfassung:	This research investigates whether the major stock markets in Latin America (Brazil, Mexico, Chile, Colombia, Peru and Argentina) exhibited herd behavior over the period January 2, 2002 to June 30, 2014, using the variation in the returns overall and by sector in the most representative stock market index in each country, using the model proposed by Christie y Huang (1995). The results do not reveal any herd behavior in the total market, or in the sectors of the markets examined in the study.
ISSN:	1657-4206 2462-8107 1657-4206
DOI:	10.17230/ecos.2016.42.1