Herd Behavior Tendencies of Investors and the Effect of Monetary Policy on Herd Behavior: A Case of BIST
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Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Maliye Bakanligi
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study aims to investigate the effect of monetary policy decisions made by policymakers on investor behavior. First, herd behavior in the equity market was investigated in crises, Covid-19, and socio-economic uncertainty. The cross-sectional variance of betas was used as a measure of herd behavior. The findings indicate that herd behavior increases sharply during the global crisis, pandemic, uncertainty, and bull markets. Secondly, the effect of monetary policy decisions on herd behavior in the Borsa Istanbul equity market was investigated. The applied Autoregressive Distributed Lag (ARDL) bound test showed that unconventional monetary policy instruments affect herd behavior.
Açıklama
Anahtar Kelimeler
Herd Behavior, Borsa Istanbul, ARDL Bound Test, Monetary Policy
Kaynak
Maliye Dergisi
WoS Q Değeri
N/A
Scopus Q Değeri
N/A
Cilt
Sayı
184
