Herding behavior on mutual fund investors in Brazil

Detalhes bibliográficos
Autor(a) principal: Kutchukian, Eric
Data de Publicação: 2014
Outros Autores: Eid Júnior, William, Dana, Samy
Tipo de documento: Artigo de conferência
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/18846
Resumo: Herd behavior (i.e. correlated movement of investors), among mutual fund investors can force fund managers to sell or buy assets even when with bad timing, like selling on historical lows or buying at market tops, what could jeopardize investor’s return and cause even more volatility of prices, due to the high volume of trading of the herd. This study has found strong evidence of herd behavior heterogeneously distributed among different groups of investors, types of funds and periods of time of Brazilian mutual funds, an evidence against the homogeneous expectations assumption of efficient markets theory.
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spelling Kutchukian, EricEid Júnior, WilliamDana, SamyEscolas::EAESP2017-09-26T18:32:55Z2017-09-26T18:32:55Z2014http://hdl.handle.net/10438/18846Herd behavior (i.e. correlated movement of investors), among mutual fund investors can force fund managers to sell or buy assets even when with bad timing, like selling on historical lows or buying at market tops, what could jeopardize investor’s return and cause even more volatility of prices, due to the high volume of trading of the herd. This study has found strong evidence of herd behavior heterogeneously distributed among different groups of investors, types of funds and periods of time of Brazilian mutual funds, an evidence against the homogeneous expectations assumption of efficient markets theory.engCentro de Estudos em Finanças (GVcef)Mutual fundsHerd behaviorMarket efficiencyEconomiaFundos de investimento - BrasilFinanças - Processo decisórioInvestimentos - AnáliseHerding behavior on mutual fund investors in Brazilinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/openAccessreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVTEXTGVcef_Kutchukian; Eid Junior; Dana.pdf.txtGVcef_Kutchukian; Eid Junior; Dana.pdf.txtExtracted texttext/plain59772https://repositorio.fgv.br/bitstreams/8cf2a69f-a9b8-4a32-bc5a-fb340556ecfc/download82d15902aeceddfa0aa9bf96d0abb90aMD55ORIGINALGVcef_Kutchukian; Eid Junior; 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dc.title.eng.fl_str_mv Herding behavior on mutual fund investors in Brazil
title Herding behavior on mutual fund investors in Brazil
spellingShingle Herding behavior on mutual fund investors in Brazil
Kutchukian, Eric
Mutual funds
Herd behavior
Market efficiency
Economia
Fundos de investimento - Brasil
Finanças - Processo decisório
Investimentos - Análise
title_short Herding behavior on mutual fund investors in Brazil
title_full Herding behavior on mutual fund investors in Brazil
title_fullStr Herding behavior on mutual fund investors in Brazil
title_full_unstemmed Herding behavior on mutual fund investors in Brazil
title_sort Herding behavior on mutual fund investors in Brazil
author Kutchukian, Eric
author_facet Kutchukian, Eric
Eid Júnior, William
Dana, Samy
author_role author
author2 Eid Júnior, William
Dana, Samy
author2_role author
author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EAESP
dc.contributor.author.fl_str_mv Kutchukian, Eric
Eid Júnior, William
Dana, Samy
dc.subject.eng.fl_str_mv Mutual funds
Herd behavior
Market efficiency
topic Mutual funds
Herd behavior
Market efficiency
Economia
Fundos de investimento - Brasil
Finanças - Processo decisório
Investimentos - Análise
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Fundos de investimento - Brasil
Finanças - Processo decisório
Investimentos - Análise
description Herd behavior (i.e. correlated movement of investors), among mutual fund investors can force fund managers to sell or buy assets even when with bad timing, like selling on historical lows or buying at market tops, what could jeopardize investor’s return and cause even more volatility of prices, due to the high volume of trading of the herd. This study has found strong evidence of herd behavior heterogeneously distributed among different groups of investors, types of funds and periods of time of Brazilian mutual funds, an evidence against the homogeneous expectations assumption of efficient markets theory.
publishDate 2014
dc.date.issued.fl_str_mv 2014
dc.date.accessioned.fl_str_mv 2017-09-26T18:32:55Z
dc.date.available.fl_str_mv 2017-09-26T18:32:55Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/18846
url http://hdl.handle.net/10438/18846
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Centro de Estudos em Finanças (GVcef)
publisher.none.fl_str_mv Centro de Estudos em Finanças (GVcef)
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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