assessment of Herd Behavior of investors in financial markets

DonyaHajishahverdi¹ MehdiTajdini²

1) Master of Financial Management,Master of Bank Accounting
2) Master of Design economic system, Master of Bank accounting

IOI Code : XYAH-ZDAAC
Publication : 3rd international conference of Science and Engineering(3icesconf.com)
Abstract :
    Herd Behavior as a behavioral bias among investors could be a source of numerous disorders such as speculative bubbles, market fluctuations and eventually it becomes inefficient. Using MATLAB software and Hwang, Salmon model - moving window method for assessment Herd Behavior in Tehran Stock Exchange market in five years period،from 2011/03/21 to 2016/03/19 The results show a negative Herd Behavior and negative relationship between Herd Behavior of investors and the market return. Compliance can be said of Herd Behavior often leads to negative returns as investors Tehran Stock Exchange.

Keywords : behavioral bias herd behavior hwang salmon model moving window