Proceedings of the Second International Conference On Economic and Business Management (FEBM 2017)

Research on risk measurement of the multi-hierarchical herding behavior of the heterogeneous institutional investors

Authors
Jie Ma, Zhenghua Wei, Xing Yin
Corresponding Author
Jie Ma
Available Online October 2017.
DOI
https://doi.org/10.2991/febm-17.2017.134How to use a DOI?
Keywords
institutional investors; herding behavior; lsv model; heterogeneous
Abstract
Based on the modified LSV model, this paper measured the herding behavior of the 6 types of institutional investor via three aspects. We got some new findings: 1) The fund’s herding behavior is the most serious in all kinds of institutional investors, and the fund shows no the professional ability in practice; 2) QFII、Trust and Broker did not do a good job as the social security fund, and even might be seen as the backward pointer of the market; 3)none of the industries owned the bigger or smaller measurement value of herding behavior for all of the institutional investors, which means all of the institutional investors will never buy or sell any industry simultaneously; 4)the social security fund invested the most in the growth enterprise market, which is quite different with our traditional conception on social security fund.
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Proceedings
Second International Conference On Economic and Business Management (FEBM 2017)
Part of series
Advances in Economics, Business and Management Research
Publication Date
October 2017
ISBN
978-94-6252-423-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/febm-17.2017.134How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Jie Ma
AU  - Zhenghua Wei
AU  - Xing Yin
PY  - 2017/10
DA  - 2017/10
TI  - Research on risk measurement of the multi-hierarchical herding behavior of the heterogeneous institutional investors
BT  - Second International Conference On Economic and Business Management (FEBM 2017)
PB  - Atlantis Press
SP  - 995
EP  - 1005
SN  - 2352-5428
UR  - https://doi.org/10.2991/febm-17.2017.134
DO  - https://doi.org/10.2991/febm-17.2017.134
ID  - Ma2017/10
ER  -