Year 2018, Volume 10, Issue 19, Pages 291 - 302 2018-07-01

AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY

Pınar EVRİM MANDACI [1] , Zeliha CAN ERGÜN [2] , F. Dilvin TAŞKIN YEŞİLOVA [3]

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This paper investigates the herding behavior of mutual fund managers in Turkey by using monthly data for the period from March 2014 to April 2017. We collect data from the monthly reports of 18 common stock mutual funds. First, we use the herding measure (Hi,t) that was developed by Lakanishok, Shleifer and Vishny (1992) to point out the stock picking herding, and then we apply the buying and selling side herding measures of Wermers (1999) to see the direction of this stock picking herding. Additionally, we apply an alternative measure of herding introduced by Oehler (1998), to determine the overall extent of mutual fund herding (market-wide herding). While our results on stock picking herding indicate the existence of any herding, the results on market-wide herding indicates the presence of it.

Behavioral Finance, Herding Behavior, Mutual Funds
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Primary Language en
Subjects Social
Journal Section Makaleler
Authors

Author: Pınar EVRİM MANDACI

Author: Zeliha CAN ERGÜN

Author: F. Dilvin TAŞKIN YEŞİLOVA

Dates

Publication Date: July 1, 2018

Bibtex @research article { marufacd502166, journal = {Finansal Araştırmalar ve Çalışmalar Dergisi}, issn = {1309-1123}, eissn = {2529-0029}, address = {Marmara University}, year = {2018}, volume = {10}, pages = {291 - 302}, doi = {10.14784/marufacd.502166}, title = {AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY}, key = {cite}, author = {EVRİM MANDACI, Pınar and CAN ERGÜN, Zeliha and TAŞKIN YEŞİLOVA, F. Dilvin} }
APA EVRİM MANDACI, P , CAN ERGÜN, Z , TAŞKIN YEŞİLOVA, F . (2018). AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY. Finansal Araştırmalar ve Çalışmalar Dergisi, 10 (19), 291-302. DOI: 10.14784/marufacd.502166
MLA EVRİM MANDACI, P , CAN ERGÜN, Z , TAŞKIN YEŞİLOVA, F . "AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY". Finansal Araştırmalar ve Çalışmalar Dergisi 10 (2018): 291-302 <http://dergipark.org.tr/marufacd/issue/41553/502166>
Chicago EVRİM MANDACI, P , CAN ERGÜN, Z , TAŞKIN YEŞİLOVA, F . "AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY". Finansal Araştırmalar ve Çalışmalar Dergisi 10 (2018): 291-302
RIS TY - JOUR T1 - AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY AU - Pınar EVRİM MANDACI , Zeliha CAN ERGÜN , F. Dilvin TAŞKIN YEŞİLOVA Y1 - 2018 PY - 2018 N1 - doi: 10.14784/marufacd.502166 DO - 10.14784/marufacd.502166 T2 - Finansal Araştırmalar ve Çalışmalar Dergisi JF - Journal JO - JOR SP - 291 EP - 302 VL - 10 IS - 19 SN - 1309-1123-2529-0029 M3 - doi: 10.14784/marufacd.502166 UR - https://doi.org/10.14784/marufacd.502166 Y2 - 2019 ER -
EndNote %0 The Journal of Financial Researches and Studies AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY %A Pınar EVRİM MANDACI , Zeliha CAN ERGÜN , F. Dilvin TAŞKIN YEŞİLOVA %T AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY %D 2018 %J Finansal Araştırmalar ve Çalışmalar Dergisi %P 1309-1123-2529-0029 %V 10 %N 19 %R doi: 10.14784/marufacd.502166 %U 10.14784/marufacd.502166
ISNAD EVRİM MANDACI, Pınar , CAN ERGÜN, Zeliha , TAŞKIN YEŞİLOVA, F. Dilvin . "AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY". Finansal Araştırmalar ve Çalışmalar Dergisi 10 / 19 (July 2018): 291-302. https://doi.org/10.14784/marufacd.502166
AMA EVRİM MANDACI P , CAN ERGÜN Z , TAŞKIN YEŞİLOVA F . AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY. JFRS. 2018; 10(19): 291-302.
Vancouver EVRİM MANDACI P , CAN ERGÜN Z , TAŞKIN YEŞİLOVA F . AN INVESTIGATION OF HERDING BEHAVIOR IN TURKISH MUTUAL FUND INDUSTRY. Finansal Araştırmalar ve Çalışmalar Dergisi. 2018; 10(19): 302-291.