Resumo

BLASCO, Natividad; CORREDOR, Pilar  e  FERRERUELA, Sandra. ¿Influyen los tigres asiáticos en el comportamiento gregario español?. El trimestre econ [online]. 2010, vol.77, n.306, pp.423-444. ISSN 2448-718X.

The purpose of this research is to explore the herding phenomenon during the Asian crisis of 1997 using intraday data and a herding intensity measure that is free of the bias inherent in other measures. The findings suggest that the crisis did not affect herding intensity to the same extent across all stocks, the largest and most persistent impact of the crisis being found in stocks with derivatives during the sample period. An additional analysis across sectors reveals that the strongest effect on ordinary herding levels at times of crisis is in the finance and energy sectors.

Palavras-chave : herding; mercado de acciones; finanzas del comportamiento; microestructura; crisis asiática.

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