Market-wide Herding and the Impact of Institutional Investors in the Indian Capital Market. (August 2013)

• Record Type: Journal Article
• Authors: Lakshman, M.V.; Basu, Sankarshan; Vaidyanathan, R.
• Is Part Of: Journal of emerging market finance. Volume 12:Number 2(2013)
• Page Start: 197
• Page End: 237
• Publication Date: 2013-08
• Subjects: Herding -- market return -- market volatility -- institutional investors -- foreign institutional investors; Banks and banking -- Developing countries -- Periodicals; Financial institutions -- Developing countries -- Periodicals; Securities -- Developing countries -- Periodicals; 332.09172405
• DOI: 10.1177/0972652713494046
• Languages: English
• ISSNs: 0972-6527

Abstract

The article tries to identify the presence of 'market-wide herding' in the Indian capital market and whether institutional investors impact such herding. In particular, the article looks at the impact of Foreign Institutional Investors flows as well as mutual funds on herding. The work also looks at the the impact of index return and volatility on herding. JEL Classification: G140, G180, C580, G120