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The STUDIA UNIVERSITATIS BABEŞ-BOLYAI issue article summary The summary of the selected article appears at the bottom of the page. In order to get back to the contents of the issue this article belongs to you have to access the link from the title. In order to see all the articles of the archive which have as author/co-author one of the authors mentioned below, you have to access the link from the author's name. |
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STUDIA OECONOMICA - Issue no. 1 / 2023 | |||||||
Article: |
HERDING BEHAVIOR IN FRONTIER NORDIC COUNTRIES. Authors: ARINA IVASIUC. |
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Abstract: DOI: 10.2478/subboec-2023-0002 Published Online: 2023-04-25 Published Print: 2023-04-25 pp. 21-41 VIEW PDF FULL PDF Abstract: This paper investigates herding behavior of investors in three frontier Nordic countries from July 1, 2002 until July 30, 2021, under different market conditions and during three crises that occurred in this period. As estimation methods, we use both OLS and quantile regression and determine that both up and down market, high and low volatility induce a weak herding behavior for at least one quantile in almost all Nordic countries examined, except for Latvia. At the same time, we find that crises determine a more prominent herding behavior in Nordic countries, but do not influent the behavior of investors from Latvia, that tend to remain rational even in stressful conditions. JEL Classification: G01, G14, G40 Keywords: Herding behavior; Market states; Financial Crises; Cross-sectional absolute deviation of returns. |
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