Herd Bias in Indian Stock Market under Extreme Market Conditions

Herd Bias in Indian Stock Market under Extreme Market Conditions

Nithin Jose

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Anjana K

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Shalina Abdul Hameed

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University of Calicut

Herd Bias in Indian Stock Market under Extreme Market Conditions

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Abstract

Behavioural Finance is an area that needs to be studied within the context of the Indian stock market to assist investors in making rational investment decisions. This study examines the existence of herding behaviour in the Indian stock market considering various determinants of herd formation such as rising and declining market conditions and extreme market situations. The study is based on 46 companies selected from NSE Nifty 50 index based on their trading period. The methodology applied to validate the presence of herd formation is Cross-Sectional Absolute Deviation (CSAD) method. The results revealed that over the study period of extreme up market condition and high trading volume has shown herding behaviour in the Indian stock market.

References

9 Cites in Article

Reference Format

James Babu,S Anooja (2018). Investors' Herding In Indian Stock Market; An Empirical Analysis.
Dr Batchu Satish,K Padmasree (2018). an Empirical Analysis of Herding Behavior in Indian Stock Market.
E Chang,J Cheng,A Khorana (2000). Examination of Herd Behaviour in Equity Markets: An International Perspective.
T Chiang,D Zheng (2010). an Empirical Analysis of Herd Behavior in Global Stock Markets.
Moatemri Ouarda,Abdelfatteh Bouri,Olivero Bernard (2013). Herding Behavior under Markets Condition: Empirical Evidence on the European Financial Markets.
Mouna Jlassi,Ahmed Bensaida (2014). Herding Behavior and Trading Volume: Evidence from the American Indexes.
Paulo Lao,Harminder Singh (2011). Herding behaviour in the Chinese and Indian stock markets.
Dr Santosh Kumar,Sharma (2018). A Test of Herding in Investment Decision: Evidence from Indian Stock Exchange.
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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

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Not applicable for this article.

How to Cite This Article

Nithin Jose. 2021. \u201cHerd Bias in Indian Stock Market under Extreme Market Conditions\u201d. Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 21 (GJMBR Volume 21 Issue B3).

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GJMBR Volume 21 Issue B3

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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Classification

GJMBR-B Classification JEL Code: B26

Submission ReceivedFebruary 10, 2021
Peer Review Double Blind
Handling Editor
Accepted March 4, 2021
Published March 15, 2021

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v1.2

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June 17, 2021

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