Herding Behavior of Business Groups During COVID-19: Evidence in Chile
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| Formato: | Artículo científico |
| Lenguaje: | en |
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Universidad Nacional Autónoma de México
2023
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| _version_ | 1876475755204968448 |
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| author | Christian Espinosa-Méndez |
| author_facet | Christian Espinosa-Méndez |
| contents | Herding Behavior of Business Groups During COVID-19: Evidence in Chile Christian Espinosa-Méndez Carlos P. Maquieira Economía y Finanzas 19 covid business groups Herding behavior emerging markets This article investigates whether herding behavior is present in stock returns of business groups during the COVID-19 pandemic. Using series of prices and daily traded volume of the companies that make up the General Index of Stock Prices of the Santiago de Chile Stock Exchange (S&P/CLIGPA) from January 1, 2010 to October 9, 2020 the results show herding behavior during COVID-19. Nevertheless, the herding behavior is weaker in business group firms compared to companies which are not affiliated to business groups. Then, when analyzing how herding behavior evolves in business groups during the presence of COVID-19, it is found that herding behavior changes to reverse herding behavior during May 2020 onwards. When inquiring about this point, it is found that herding behavior in business groups is lower under increasing uncertainty (number of cases and deaths due to COVID-19 increases). 2023 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60175442005 https://www.redalyc.org/journal/601/60175442005/ https://www.redalyc.org/journal/601/60175442005/html/ https://www.redalyc.org/journal/601/60175442005/60175442005.epub https://www.redalyc.org/journal/601/60175442005/movil 10.22201/fe.01851667p.2023.324.83713 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.324 Vol.LXXXII |
| format | Artículo científico |
| id | redalyc_60175442005 |
| institution | Redalyc |
| language | en |
| publishDate | 2023 |
| publisher | Universidad Nacional Autónoma de México |
| spellingShingle | Herding Behavior of Business Groups During COVID-19: Evidence in Chile Christian Espinosa-Méndez Economía y Finanzas 19 covid business groups Herding behavior emerging markets Herding Behavior of Business Groups During COVID-19: Evidence in Chile Christian Espinosa-Méndez Carlos P. Maquieira Economía y Finanzas 19 covid business groups Herding behavior emerging markets This article investigates whether herding behavior is present in stock returns of business groups during the COVID-19 pandemic. Using series of prices and daily traded volume of the companies that make up the General Index of Stock Prices of the Santiago de Chile Stock Exchange (S&P/CLIGPA) from January 1, 2010 to October 9, 2020 the results show herding behavior during COVID-19. Nevertheless, the herding behavior is weaker in business group firms compared to companies which are not affiliated to business groups. Then, when analyzing how herding behavior evolves in business groups during the presence of COVID-19, it is found that herding behavior changes to reverse herding behavior during May 2020 onwards. When inquiring about this point, it is found that herding behavior in business groups is lower under increasing uncertainty (number of cases and deaths due to COVID-19 increases). 2023 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60175442005 https://www.redalyc.org/journal/601/60175442005/ https://www.redalyc.org/journal/601/60175442005/html/ https://www.redalyc.org/journal/601/60175442005/60175442005.epub https://www.redalyc.org/journal/601/60175442005/movil 10.22201/fe.01851667p.2023.324.83713 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.324 Vol.LXXXII |
| title | Herding Behavior of Business Groups During COVID-19: Evidence in Chile |
| topic | Economía y Finanzas 19 covid business groups Herding behavior emerging markets |
| url | https://www.redalyc.org/articulo.oa?id=60175442005 https://www.redalyc.org/journal/601/60175442005/ https://www.redalyc.org/journal/601/60175442005/html/ https://www.redalyc.org/journal/601/60175442005/60175442005.epub https://www.redalyc.org/journal/601/60175442005/movil |