<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-718X</journal-id>
<journal-title><![CDATA[El trimestre económico]]></journal-title>
<abbrev-journal-title><![CDATA[El trimestre econ]]></abbrev-journal-title>
<issn>2448-718X</issn>
<publisher>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-718X2010000200423</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[¿Influyen los tigres asiáticos en el comportamiento gregario español?]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Blasco]]></surname>
<given-names><![CDATA[Natividad]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Corredor]]></surname>
<given-names><![CDATA[Pilar]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Ferreruela]]></surname>
<given-names><![CDATA[Sandra]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Zaragoza Departamento de Contabilidad y Finanzas ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Spain</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Universidad Pública de Navarra Departamento de Gestión de Empresas ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Spain</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2010</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2010</year>
</pub-date>
<volume>77</volume>
<numero>306</numero>
<fpage>423</fpage>
<lpage>444</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2010000200423&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2010000200423&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2010000200423&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo intenta ahondar en el fenómeno imitador (herding) durante la crisis asiática de 1997. Para ello se emplea una medida de la intensidad de herding exenta del sesgo presente en otras medidas y se utiliza datos intradiarios. Los resultados que se obtiene dejan entrever que el efecto de la crisis no afectó de manera homogénea la conducta imitadora en todos los activos del mercado, destacando como activos en los que la crisis se nota más y durante más tiempo las acciones que poseen opción durante el periodo analizado. Un análisis adicional por sectores pone de manifiesto que el sector financiero y el energético son los más afectados en su herding ordinario en momentos de crisis.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract 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.]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[herding]]></kwd>
<kwd lng="es"><![CDATA[mercado de acciones]]></kwd>
<kwd lng="es"><![CDATA[finanzas del comportamiento]]></kwd>
<kwd lng="es"><![CDATA[microestructura]]></kwd>
<kwd lng="es"><![CDATA[crisis asiática]]></kwd>
</kwd-group>
</article-meta>
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