International Research Journal of Business Studies
Vol. 17 No. 2 (2024): August - November 2024

Did the Covid-19 Pandemic Trigger Herding Behavior?

Komalasari, Puput Tri (Unknown)
Qalby, Zahrin Haznina (Unknown)
Alhaqi, Vanessa Ryan (Unknown)

Article Info

Publish Date
30 Oct 2024

Abstract

This study aims to examine the influence of the COVID-19 pandemic on mutual fund herding in Indonesia. The research population comprises open-end mutual funds in Indonesia. By adopting the purposive sampling method, we selected the stock mutual funds registered from 2017 to 2022 as our research sample. We define the 2017-2019 period as before COVID-19 and 2020-2022 as during COVID-19. This study employs CSAD and CSSD as proxies for return dispersion by considering two types of indices as benchmarks, namely LQ45 and IDX Composite. Our study found that COVID-19 did trigger mutual fund herding. However, we failed to find herding behavior when there is a large market movement. Instead, we found reverse herding. 

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Journal Info
International Research Journal of Business Studies
Website

Abbrev

jurnalirjbs

Publisher

Universitas Prasetiya Mulya

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Description

International Research Journal of Business Studies (IRJBS) comprises three constructs. The word “International” refers to our mission to provide readers with relevant fields of study and to involve authors in giving their contributions on an international scale. ”Research Journal” refers to ...