Herding on lottery-type stocks: evidence from the Chinese stock market P Gong, J

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收藏 2017-09-01

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【作者(必填)】P Gong, J Dai

【文题(必填)】Herding on lottery-type stocks: evidence from the Chinese stock market

【年份(必填)】Applied Economics Letters, 2017

【全文链接或数据库名称(选填)】 -Taylor & Francis
ABSTRACT Previous studies have provided evidence that investors have gambling
propensity in the stock market and exhibit a preference for lottery-type stocks. In this study,
we use high total skewness and high maximum daily return (MAX) to measure lottery-type
stocks and examine whether investors do exhibit distinct herding pattern in these stock
types. Empirical results show that investors display stronger herding among lottery-type ...