tailieunhanh - Impact of stock market liquidity on herding behaviour: A comparative study of conglomerate and consumer goods sectors

This study examined the impact of stock market liquidity on herding behaviour of investors in Nigerian stock market with focus on Conglomerate and Consumer goods sectors. Monthly data of stock returns and market capitalization for fifteen years from 2001 – 2015 were used and 28 companies' stocks from both sectors were considered. OLS model was used to determine the impact, existence and extent of herding behavior in these sectors. | Impact of stock market liquidity on herding behaviour: A comparative study of conglomerate and consumer goods sectors