| Summary: | 碩士 === 國立東華大學 === 公司理財碩士學位學程 === 97 === This paper analyses the trading activity of Taiwan mutual fund in the 1993-2008 period to investigate whether Taiwan mutual fund managers are engaged in herding behavior. First, we find herding value is 10.25% in our sample. Moreover, we find if there is a difference between bull and bear market. Next step, we select return, standard return, turnover, p/e ratio, size, BM for our variables to find the main reason to cause herding. Finally, we investigate the impact of herding on stock formation return and post return.
|
|---|
