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Internet postings and investor herd behavior: evidence from China's open-end fund market

Economics

Internet postings and investor herd behavior: evidence from China's open-end fund market

S. Zhou and X. Liu

Discover the intriguing relationship between internet postings and herd behavior in China's open-end fund market, as explored by Shifen Zhou and Xiaojun Liu. This research unveils how online discussions can sway collective investor actions, revealing a fascinating dynamic that shapes market behavior.

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Playback language: English
Abstract
This paper examines the dynamic dependence between internet postings and herd behavior in China's open-end fund market using DCC-GARCH and TVP-SV-VAR models. Results indicate a time-varying and asymmetric relationship, with internet postings negatively affecting herd behavior, particularly in the short term. Herd behavior, conversely, increases postings, thereby weakening the herding effect. Increases in postings have a more pronounced effect on herd behavior than decreases.
Publisher
Humanities & Social Sciences Communications
Published On
Dec 09, 2022
Authors
Shifen Zhou, Xiaojun Liu
Tags
internet postings
herd behavior
financial markets
DCC-GARCH
time-varying effects

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