Herd behavior in Malaysian capital market: An empirical Analysis
This study examines the existence of herd behavior among foreign investors in the Malaysian capital market. In methodology, the study analyzes the herd behavior by estimating vector error correction (VECM) model of FPI inflows as well as FPI outflows from/to major investors such as the United St...
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2009
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Online Access: | http://irep.iium.edu.my/8015/ http://irep.iium.edu.my/8015/ http://irep.iium.edu.my/8015/1/Herd_behavior_in_Malaysian_capital_market_An_empirical_Analysis.pdf |
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iium-80152011-11-24T21:01:52Z http://irep.iium.edu.my/8015/ Herd behavior in Malaysian capital market: An empirical Analysis Duasa, Jarita Kassim, Salina H. H Social Sciences (General) HB Economic Theory HC Economic History and Conditions This study examines the existence of herd behavior among foreign investors in the Malaysian capital market. In methodology, the study analyzes the herd behavior by estimating vector error correction (VECM) model of FPI inflows as well as FPI outflows from/to major investors such as the United States, United Kingdom, Singapore and Hong Kong using quarterly data covering the period of Q1:1991 to Q3:2007. Additionally, we adopt an innovation accounting by simulating variance decompositions (VDC) and impulse response functions (IRF) for further inferences. The findings support the belief that there is a strong herd instinct prevailing among foreign investors in the Malaysian capital market. Reprograph Craiova Publishers 2009 Article PeerReviewed application/pdf en http://irep.iium.edu.my/8015/1/Herd_behavior_in_Malaysian_capital_market_An_empirical_Analysis.pdf Duasa, Jarita and Kassim, Salina H. (2009) Herd behavior in Malaysian capital market: An empirical Analysis. Journal of Applied Economic Sciences, 4 (1). pp. 45-57. ISSN 1843-6110 http://mpra.ub.uni-muenchen.de/13303/ |
repository_type |
Digital Repository |
institution_category |
Local University |
institution |
International Islamic University Malaysia |
building |
IIUM Repository |
collection |
Online Access |
language |
English |
topic |
H Social Sciences (General) HB Economic Theory HC Economic History and Conditions |
spellingShingle |
H Social Sciences (General) HB Economic Theory HC Economic History and Conditions Duasa, Jarita Kassim, Salina H. Herd behavior in Malaysian capital market: An empirical Analysis |
description |
This study examines the existence of herd behavior among foreign
investors in the Malaysian capital market. In methodology, the study
analyzes the herd behavior by estimating vector error correction (VECM)
model of FPI inflows as well as FPI outflows from/to major investors such
as the United States, United Kingdom, Singapore and Hong Kong using
quarterly data covering the period of Q1:1991 to Q3:2007. Additionally,
we adopt an innovation accounting by simulating variance decompositions
(VDC) and impulse response functions (IRF) for further inferences. The
findings support the belief that there is a strong herd instinct prevailing
among foreign investors in the Malaysian capital market. |
format |
Article |
author |
Duasa, Jarita Kassim, Salina H. |
author_facet |
Duasa, Jarita Kassim, Salina H. |
author_sort |
Duasa, Jarita |
title |
Herd behavior in Malaysian capital market: An empirical Analysis |
title_short |
Herd behavior in Malaysian capital market: An empirical Analysis |
title_full |
Herd behavior in Malaysian capital market: An empirical Analysis |
title_fullStr |
Herd behavior in Malaysian capital market: An empirical Analysis |
title_full_unstemmed |
Herd behavior in Malaysian capital market: An empirical Analysis |
title_sort |
herd behavior in malaysian capital market: an empirical analysis |
publisher |
Reprograph Craiova Publishers |
publishDate |
2009 |
url |
http://irep.iium.edu.my/8015/ http://irep.iium.edu.my/8015/ http://irep.iium.edu.my/8015/1/Herd_behavior_in_Malaysian_capital_market_An_empirical_Analysis.pdf |
first_indexed |
2023-09-18T20:17:36Z |
last_indexed |
2023-09-18T20:17:36Z |
_version_ |
1777407892452802560 |