@article{Ansari_Aziz_Ansari_2020, title={Does herding exist in lottery stocks? Evidence from the Indian stock market}, volume={9}, url={https://ojs.aut.ac.nz/applied-finance-letters/article/view/157}, DOI={10.24135/afl.v9i0.157}, abstractNote={<p>In this paper, we investigate the presence of herd behaviour among lottery stocks&nbsp;using Max, skewness and idiosyncratic volatility in the Indian stock market during the&nbsp;period&nbsp;January 2000 to December 2018. We demonstrate that the herd behaviour is&nbsp;non-existent across proxies of lottery-stocks MAX and skewness and find that the herd&nbsp;behaviour is present among highly idiosyncratic stocks. This sheds light on why herding is not detected in the prior studies as it may be concentrated among stocks with&nbsp;certain characteristics. Further, it provides evidence of adverse herding.</p&gt;}, journal={Applied Finance Letters}, author={Ansari, Aleem and Aziz, Tariq and Ansari, Valeed Ahmad}, year={2020}, month={Feb.}, pages={2-10} }