FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2991888008> ?p ?o ?g. }

• W2991888008 endingPage "32" @default.
• W2991888008 startingPage "19" @default.
• W2991888008 abstract "ABSTRACTThis paper examines the shift of dominance of the American stock market. We also observe herding behavior changes of major Asia Pacific regions towards the American market in the wake of major events that affected financial markets. Events examined include the Asian financial crisis, Internet bubble, September 11 attacks, SARS outbreak, and global financial crisis. Evidence shows the American stock market still held the leading position over the East Asian markets in the wake of these major events. We define the continuing bull (and continuing bear) of the American stock market as the dummy variable of herding behavior. We compare the difference in stock returns before and after structural breaks by investigation into the stock markets in Hong Kong, Taiwan, and Japan. Finally, we propose suitable investment strategies related to herding behavior in the East Asian stock markets toward the American stock market. The examination of out-of-sample profitability revealed the proposed investment strategies contributed to significantly positive average portfolio returns, whether in continuing bull or continuing bear markets.JEL: C32, G15KEYWORDS: Continuing Bull, Continuing Bear, Herding Behavior, Investment Strategy(ProQuest: ... denotes formulae omitted.)INTRODUCTIONTrade ties the United States' economy inextricably to markets and economies of the rest of the world. Traded goods and services imply huge tides of financial transaction flow across global borders. U.S. companies and individuals directly invest making themselves the world's largest direct investor in foreign economies. The U.S. also receives more investment from outside its borders than any other nation and has become a world financial capital. The U.S. stock index movement often affects global stock markets.Asia is one of the world's major emerging markets. Its effect on global economic growth is increasing due to rapid growth of the technology industry. Some mai or events impacted the Asian financial markets during the late 20th and early 21st century. These include the Asian financial crisis in 1997, the Internet bubble in 2000, the September 11 attacks in 2001, the SARS pandemic in 2003, and global financial crisis in 2008. What kind of impact and influence did these periods bring to Asian stock markets? Will the interrelationships among Asian stock markets change? After the five major events, can we see investment opportunities?Yang et al. (2007) indicated that the bigger the securities company, the more accurate analysts' earnings forecast. And the more accurate were forecasts made by analysts who analyzed foreign capital. This leads to the idea of examining the stock market in light of foreign capital. Currently, the Pacific area is the mainstream in Asian finance. Our analysis focusses on the interrelationship of stock markets among Pacific countries. Chiao and Wang (2008) investigated clustering patterns of order prices in the Taiwan stock market. They found that investors were front running others' orders to capitalize on opportunities created by integer-price clustering. Their findings led us to wonder if this clustering pattern (or herding behavior) or a lead-lag relationship (i.e., a dominant market and its followers) existed in Pacific stock markets. Given the existence of a lead-lag relationship, a major dummy variable could then be designed (i.e., the continuing bull (c-bull) and continuing bear (c-bear)) to investigate potential herding behavior and implicated investment manners, with the aim to locate appropriate investment strategies.Granger's (1969) employed the causality test to analyze lead-lag relationships among Pacific stock markets. However, the exclusive use of causality tests implies neglect of the long-term relationship among variables (Lee, 2005). This paper adopts Lee's (2005) research methodology by first confirming causality among Pacific stock markets. To increase model interpretation, co-integration analysis was employed to verify the co-integration relation of stock indices among different countries. …" @default.
• W2991888008 created "2019-12-13" @default.
• W2991888008 creator A5018787557 @default.
• W2991888008 creator A5025762426 @default.
• W2991888008 creator A5048052041 @default.
• W2991888008 creator A5052668866 @default.
• W2991888008 date "2015-01-01" @default.
• W2991888008 modified "2023-09-24" @default.
• W2991888008 title "Empirical Investigation of Herding Behavior in East Asian Stock Markets toward the U.S. Market" @default.
• W2991888008 cites W1573257242 @default.
• W2991888008 cites W1587141723 @default.
• W2991888008 cites W1977669812 @default.
• W2991888008 cites W1981115019 @default.
• W2991888008 cites W1993443607 @default.
• W2991888008 cites W1995792757 @default.
• W2991888008 cites W1995830454 @default.
• W2991888008 cites W2004599763 @default.
• W2991888008 cites W2009639949 @default.
• W2991888008 cites W2009957539 @default.
• W2991888008 cites W2019459021 @default.
• W2991888008 cites W2048140961 @default.
• W2991888008 cites W2057401322 @default.
• W2991888008 cites W2079628199 @default.
• W2991888008 cites W2081858123 @default.
• W2991888008 cites W2104267426 @default.
• W2991888008 cites W2117922789 @default.
• W2991888008 cites W2144452471 @default.
• W2991888008 cites W2144876393 @default.
• W2991888008 cites W2153562738 @default.
• W2991888008 cites W2178225550 @default.
• W2991888008 cites W2180736400 @default.
• W2991888008 cites W2273948515 @default.
• W2991888008 cites W3097146374 @default.
• W2991888008 cites W3122592482 @default.
• W2991888008 cites W3126001324 @default.
• W2991888008 hasPublicationYear "2015" @default.
• W2991888008 type Work @default.
• W2991888008 sameAs 2991888008 @default.
• W2991888008 citedByCount "0" @default.
• W2991888008 crossrefType "posted-content" @default.
• W2991888008 hasAuthorship W2991888008A5018787557 @default.
• W2991888008 hasAuthorship W2991888008A5025762426 @default.
• W2991888008 hasAuthorship W2991888008A5048052041 @default.
• W2991888008 hasAuthorship W2991888008A5052668866 @default.
• W2991888008 hasConcept C10138342 @default.
• W2991888008 hasConcept C106159729 @default.
• W2991888008 hasConcept C121087249 @default.
• W2991888008 hasConcept C139719470 @default.
• W2991888008 hasConcept C143910263 @default.
• W2991888008 hasConcept C144133560 @default.
• W2991888008 hasConcept C162324750 @default.
• W2991888008 hasConcept C166957645 @default.
• W2991888008 hasConcept C177605951 @default.
• W2991888008 hasConcept C19244329 @default.
• W2991888008 hasConcept C204036174 @default.
• W2991888008 hasConcept C205649164 @default.
• W2991888008 hasConcept C2778300220 @default.
• W2991888008 hasConcept C2779343474 @default.
• W2991888008 hasConcept C2780299701 @default.
• W2991888008 hasConcept C556758197 @default.
• W2991888008 hasConcept C73283319 @default.
• W2991888008 hasConcept C97137747 @default.
• W2991888008 hasConceptScore W2991888008C10138342 @default.
• W2991888008 hasConceptScore W2991888008C106159729 @default.
• W2991888008 hasConceptScore W2991888008C121087249 @default.
• W2991888008 hasConceptScore W2991888008C139719470 @default.
• W2991888008 hasConceptScore W2991888008C143910263 @default.
• W2991888008 hasConceptScore W2991888008C144133560 @default.
• W2991888008 hasConceptScore W2991888008C162324750 @default.
• W2991888008 hasConceptScore W2991888008C166957645 @default.
• W2991888008 hasConceptScore W2991888008C177605951 @default.
• W2991888008 hasConceptScore W2991888008C19244329 @default.
• W2991888008 hasConceptScore W2991888008C204036174 @default.
• W2991888008 hasConceptScore W2991888008C205649164 @default.
• W2991888008 hasConceptScore W2991888008C2778300220 @default.
• W2991888008 hasConceptScore W2991888008C2779343474 @default.
• W2991888008 hasConceptScore W2991888008C2780299701 @default.
• W2991888008 hasConceptScore W2991888008C556758197 @default.
• W2991888008 hasConceptScore W2991888008C73283319 @default.
• W2991888008 hasConceptScore W2991888008C97137747 @default.
• W2991888008 hasIssue "1" @default.
• W2991888008 hasLocation W29918880081 @default.
• W2991888008 hasOpenAccess W2991888008 @default.
• W2991888008 hasPrimaryLocation W29918880081 @default.
• W2991888008 hasRelatedWork W1512277786 @default.
• W2991888008 hasRelatedWork W1563448986 @default.
• W2991888008 hasRelatedWork W1621628591 @default.
• W2991888008 hasRelatedWork W1997578433 @default.
• W2991888008 hasRelatedWork W2122343819 @default.
• W2991888008 hasRelatedWork W2166681101 @default.
• W2991888008 hasRelatedWork W2169597202 @default.
• W2991888008 hasRelatedWork W2175187300 @default.
• W2991888008 hasRelatedWork W236163 @default.
• W2991888008 hasRelatedWork W2381017414 @default.
• W2991888008 hasRelatedWork W2563204083 @default.
• W2991888008 hasRelatedWork W2749357051 @default.
• W2991888008 hasRelatedWork W2805167754 @default.
• W2991888008 hasRelatedWork W2885650132 @default.

• next