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Applied Economics Letters Volume 25, 2018 - Issue 10
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Original Articles

Herding on lottery-type stocks: evidence from the Chinese stock market

Pu GongSchool of Management, Huazhong University of Science and Technology, Wuhan, ChinaCorrespondence[email protected]
ORCID Iconhttp://orcid.org/0000-0002-4086-3850View further author information
ORCID Icon &
Jun DaiSchool of Management, Huazhong University of Science and Technology, Wuhan, ChinaView further author information
Pages 659-662 | Published online: 17 Jul 2017

References

  • Bali, T. G., N. Cakici, and R. F. Whitelaw. 2011. “Maxing Out: Stocks as Lotteries and the Cross-Section of Expected Returns.” Journal of Financial Economics 99 (2): 427–446. doi:10.1016/j.jfineco.2010.08.014.
  • Barberis, N., and M. Huang. 2008. “Stocks as Lotteries: The Implications of Probability Weighting for Security Prices.” The American Economic Review 98 (5): 2066–2100. doi:10.1257/aer.98.5.2066.
  • Chang, E. C., J. W. Cheng, and A. Khorana. 2000. “An Examination of Herd Behavior in Equity Markets: An International Perspective.” Journal of Banking & Finance 24 (10): 1651–1679. doi:10.1016/S0378-4266(99)00096-5.
  • Chiang, T. C., and D. Zheng. 2010. “An Empirical Analysis of Herd Behavior in Global Stock Markets.” Journal of Banking & Finance 34 (8): 1911–1921. doi:10.1016/j.jbankfin.2009.12.014.
  • Kumar, A. 2009. “Who Gambles in the Stock Market?” The Journal of Finance 64 (4): 1889–1933. doi:10.1111/j.1540-6261.2009.01483.x.
  • Kumar, A., J. K. Page, and O. G. Spalt. 2016. “Gambling and Comovement.” Journal of Financial and Quantitative Analysis 51 (01): 85–111. doi:10.1017/S0022109016000089.
  • Tan, L., T. C. Chiang, J. R. Mason, and E. Nelling. 2008. “Herding Behavior in Chinese Stock Markets: An Examination of A and B Shares.” Pacific-Basin Finance Journal 16 (1): 61–77. doi:10.1016/j.pacfin.2007.04.004.
  • Yao, J., C. Ma, and W. P. He. 2014. “Investor Herding Behaviour of Chinese Stock Market.” International Review of Economics & Finance 29: 12–29. doi:10.1016/j.iref.2013.03.002.

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