Do investors herd in frontier marker? Evidence from the Dar es Salaam Stock Exchange
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Mzumbe University
2024
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| Accès en ligne: | https://scholar.mzumbe.ac.tz/handle/123456789/1010 |
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| author | Komba, Gabriel Vitus |
| author_facet | Komba, Gabriel Vitus |
| author_sort | Komba, Gabriel Vitus |
| collection | DSpace |
| description | Nil |
| format | Article |
| id | oai:41.59.85.69:123456789-1010 |
| institution | Mzumbe University |
| language | en_US |
| publishDate | 2024 |
| publisher | Mzumbe University |
| record_format | dspace |
| spelling | oai:41.59.85.69:123456789-10102024-07-31T11:26:24Z Do investors herd in frontier marker? Evidence from the Dar es Salaam Stock Exchange Komba, Gabriel Vitus herd in frontier marker Dar es Salaam Stock Exchange Herding behaviour Asymmetric behaviour banks finance and investment sectors Nil The purpose of this study is to investigate the presence of herding effects at the Dar-es-Salaam Stock Exchange. It employs a dataset of daily closing prices and market capitalizations of companies composing the industrial and allied sectors, and those covering banks, finance, and investment sectors. The study used cross-sectional dispersion of stock return tests to examine the presence of herding for the two sectors. The findings provide evidence of herding in the banks, finance, and investment sectors throughout the full-sample period, with the herding being driven mainly by large-capitalization stocks. Furthermore, the results indicate clear presence of herding asymmetries conditional on the performance of the market and on the market’s volatility. On the case of the industrial and allied sector, herding is found to be stronger on days with low volatility only. The economic implication of this evidence is that the observed correlated trading patterns for the banks, finance, and investment sector may undermine financial stability. Private 2024-07-31T11:26:21Z 2024-07-31T11:26:21Z 2020 Article APA https://scholar.mzumbe.ac.tz/handle/123456789/1010 en_US application/pdf Mzumbe University |
| spellingShingle | herd in frontier marker Dar es Salaam Stock Exchange Herding behaviour Asymmetric behaviour banks finance and investment sectors Komba, Gabriel Vitus Do investors herd in frontier marker? Evidence from the Dar es Salaam Stock Exchange |
| title | Do investors herd in frontier marker? Evidence from the Dar es Salaam Stock Exchange |
| title_full | Do investors herd in frontier marker? Evidence from the Dar es Salaam Stock Exchange |
| title_fullStr | Do investors herd in frontier marker? Evidence from the Dar es Salaam Stock Exchange |
| title_full_unstemmed | Do investors herd in frontier marker? Evidence from the Dar es Salaam Stock Exchange |
| title_short | Do investors herd in frontier marker? Evidence from the Dar es Salaam Stock Exchange |
| title_sort | do investors herd in frontier marker evidence from the dar es salaam stock exchange |
| topic | herd in frontier marker Dar es Salaam Stock Exchange Herding behaviour Asymmetric behaviour banks finance and investment sectors |
| url | https://scholar.mzumbe.ac.tz/handle/123456789/1010 |
| work_keys_str_mv | AT kombagabrielvitus doinvestorsherdinfrontiermarkerevidencefromthedaressalaamstockexchange |