Matches in SemOpenAlex for { <https://semopenalex.org/work/W2977720904> ?p ?o ?g. }
Showing items 1 to 92 of
92
with 100 items per page.
- W2977720904 endingPage "36" @default.
- W2977720904 startingPage "20" @default.
- W2977720904 abstract "This paper sets out to explore whether the investor herding in the cryptocurrency market induces correlations in cryptocurrency returns using the methodology of Chang et al. (2000) and Galariotis et al. (2015) from a daily data sampling period of 3/30/2015 to 5/24/2019. The initial regression results show that the cross-sectional absolute deviation of return can only be explained by GSCI oil and gold index return, but no relationship exists between cross-sectional absolute deviation of return and other regression variables, such as return on CCi30, US equity risk premium and US/Euro exchange rate return. The herding regression results under normal market condition show that a strong tendency exists to herd on non-fundamental information that explains cross-sectional absolute deviation of returns. As such, cryptocurrency returns cannot be predicted on the basis of fundamental economic information (e.g., major macroeconomic announcements). Herding on non-fundamental information is found to be more pronounced during an upward-trending period of the market and other than upward-trending period. No signs of herding on fundamental information could be observed under other market conditions. Although the theory suggests that herding on non-fundamental information results in more efficient outcomes, the above findings do not encourage the diversification of traditional assets with cryptocurrency on the basis of low correlation. Since cryptocurrency lacks intrinsic value, the exchange is shown to provide a pseudo-efficient trading platform for speculative investors. Implications for future research are discussed." @default.
- W2977720904 created "2019-10-10" @default.
- W2977720904 creator A5007682779 @default.
- W2977720904 creator A5068047224 @default.
- W2977720904 date "2020-01-01" @default.
- W2977720904 modified "2023-10-05" @default.
- W2977720904 title "Herd behaviour in the cryptocurrency market: Fundamental vs. spurious herding" @default.
- W2977720904 cites W2035256086 @default.
- W2977720904 cites W2042442456 @default.
- W2977720904 cites W2090637028 @default.
- W2977720904 cites W2147413833 @default.
- W2977720904 cites W2591824560 @default.
- W2977720904 cites W2914421091 @default.
- W2977720904 cites W3006905065 @default.
- W2977720904 cites W4230412795 @default.
- W2977720904 doi "https://doi.org/10.5937/ejae17-22053" @default.
- W2977720904 hasPublicationYear "2020" @default.
- W2977720904 type Work @default.
- W2977720904 sameAs 2977720904 @default.
- W2977720904 citedByCount "9" @default.
- W2977720904 countsByYear W29777209042020 @default.
- W2977720904 countsByYear W29777209042021 @default.
- W2977720904 countsByYear W29777209042022 @default.
- W2977720904 crossrefType "journal-article" @default.
- W2977720904 hasAuthorship W2977720904A5007682779 @default.
- W2977720904 hasAuthorship W2977720904A5068047224 @default.
- W2977720904 hasBestOaLocation W29777209041 @default.
- W2977720904 hasConcept C102235558 @default.
- W2977720904 hasConcept C105795698 @default.
- W2977720904 hasConcept C106159729 @default.
- W2977720904 hasConcept C120934525 @default.
- W2977720904 hasConcept C144133560 @default.
- W2977720904 hasConcept C149782125 @default.
- W2977720904 hasConcept C162324750 @default.
- W2977720904 hasConcept C162853370 @default.
- W2977720904 hasConcept C166957645 @default.
- W2977720904 hasConcept C177605951 @default.
- W2977720904 hasConcept C180706569 @default.
- W2977720904 hasConcept C180916674 @default.
- W2977720904 hasConcept C205649164 @default.
- W2977720904 hasConcept C2776988154 @default.
- W2977720904 hasConcept C2779343474 @default.
- W2977720904 hasConcept C2780299701 @default.
- W2977720904 hasConcept C33923547 @default.
- W2977720904 hasConcept C38652104 @default.
- W2977720904 hasConcept C41008148 @default.
- W2977720904 hasConcept C556758197 @default.
- W2977720904 hasConcept C97137747 @default.
- W2977720904 hasConcept C97256817 @default.
- W2977720904 hasConceptScore W2977720904C102235558 @default.
- W2977720904 hasConceptScore W2977720904C105795698 @default.
- W2977720904 hasConceptScore W2977720904C106159729 @default.
- W2977720904 hasConceptScore W2977720904C120934525 @default.
- W2977720904 hasConceptScore W2977720904C144133560 @default.
- W2977720904 hasConceptScore W2977720904C149782125 @default.
- W2977720904 hasConceptScore W2977720904C162324750 @default.
- W2977720904 hasConceptScore W2977720904C162853370 @default.
- W2977720904 hasConceptScore W2977720904C166957645 @default.
- W2977720904 hasConceptScore W2977720904C177605951 @default.
- W2977720904 hasConceptScore W2977720904C180706569 @default.
- W2977720904 hasConceptScore W2977720904C180916674 @default.
- W2977720904 hasConceptScore W2977720904C205649164 @default.
- W2977720904 hasConceptScore W2977720904C2776988154 @default.
- W2977720904 hasConceptScore W2977720904C2779343474 @default.
- W2977720904 hasConceptScore W2977720904C2780299701 @default.
- W2977720904 hasConceptScore W2977720904C33923547 @default.
- W2977720904 hasConceptScore W2977720904C38652104 @default.
- W2977720904 hasConceptScore W2977720904C41008148 @default.
- W2977720904 hasConceptScore W2977720904C556758197 @default.
- W2977720904 hasConceptScore W2977720904C97137747 @default.
- W2977720904 hasConceptScore W2977720904C97256817 @default.
- W2977720904 hasIssue "1" @default.
- W2977720904 hasLocation W29777209041 @default.
- W2977720904 hasOpenAccess W2977720904 @default.
- W2977720904 hasPrimaryLocation W29777209041 @default.
- W2977720904 hasRelatedWork W2111398150 @default.
- W2977720904 hasRelatedWork W2255413489 @default.
- W2977720904 hasRelatedWork W2368153234 @default.
- W2977720904 hasRelatedWork W2596374609 @default.
- W2977720904 hasRelatedWork W2607113374 @default.
- W2977720904 hasRelatedWork W2884387797 @default.
- W2977720904 hasRelatedWork W3076299225 @default.
- W2977720904 hasRelatedWork W3170826656 @default.
- W2977720904 hasRelatedWork W4293437989 @default.
- W2977720904 hasRelatedWork W4309609208 @default.
- W2977720904 hasVolume "17" @default.
- W2977720904 isParatext "false" @default.
- W2977720904 isRetracted "false" @default.
- W2977720904 magId "2977720904" @default.
- W2977720904 workType "article" @default.