A Comparative Study of Herding Behavior on Securities Market in China Based on CH Model and CCK Model

摘要：

As an emerging market developed from a transition economy,China provides conditions for herding,especially for irrational herding behavior to occur.Under this situation,study the herding behavior of Chinese securities market and comparing its result with other developed countries have realistic meaning.We use CH and CCK model to test block herding behavior of Chinas securities markets in this paper.The empirical results show that there exists significant herding behavior in stock market of China,and this effect,which is likely to be irrational,is more significant than that of developed countries.And we try to explain this result reasonably in this paper.

关键词： Herding Behavior CCK Model CH Model

作者: Ying CHU

作者单位: School of Management,Huazhong University of Science & Technology,Wuhan,China,430074

会议类型: 国际会议

会议名称: 2008 International Conference on System Management(2008年系统管理学术研讨会)(2008 CSM)

会议地点: 上海

会议语种:英文

页码: 614-618

在线出版日期: 2008-05-30（万方平台首次上网日期，不代表论文的发表时间）