The Impact of Institutional Herding for Idiosyncratic Risk
碩士 === 國立高雄第一科技大學 === 風險管理與保險所 === 98 === This study use Taiwan data from the second season 2002 to the second season 2008, we show that institutional herding is positively related to idiosyncratic risk. Additionally, our firm level result suggest the relationship between institutional herding and i...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2010
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| Online Access: | http://ndltd.ncl.edu.tw/handle/97223267557346359772 |
| Summary: | 碩士 === 國立高雄第一科技大學 === 風險管理與保險所 === 98 === This study use Taiwan data from the second season 2002 to the second season 2008, we show that institutional herding is positively related to idiosyncratic risk. Additionally, our firm level result suggest the relationship between institutional herding and idiosyncratic risk is asymmetric, institutional buy herding relative to institutional sell herding have more
influence to idiosyncratic risk, and we reject the hypothesis that asymmetric result is result from institutional investors prefer stocks with high idiosyncratic volatility. This study result can help investor making Investment strategy and hedge strategy.
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