Herding behavior in REITs

dc.contributor.author	Φίλιππας, Νικόλαος Δ.	el
dc.contributor.author	Οικονόμου, Φωτεινή	el
dc.contributor.author	Μπάμπαλος, Βασίλειος	el
dc.contributor.author	Κωστάκης, Αλέξανδρος	el
dc.date.accessioned	2015-05-18T19:40:44Z
dc.date.available	2015-05-18T19:40:44Z
dc.date.issued	2015-05-18
dc.identifier.uri	http://hdl.handle.net/11400/10704
dc.rights	Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ηνωμένες Πολιτείες	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/us/	*
dc.source	http://www.sciencedirect.com/science/article/pii/S1057521913000057#	el
dc.subject	Real estate investment trusts
dc.subject	Real estate business--Finance
dc.subject	Herding behavior
dc.subject	Συμπεριφοράς της αγέλης
dc.subject	Επένδυση ακίνητου τραστ
dc.subject	Αγορά ακινήτων
dc.subject	Investors' sentiment
dc.subject	Επενδυτικό κλίμα
dc.title	Herding behavior in REITs	en
heal.type	journalArticle
heal.secondaryTitle	novel tests and the role of financial crisis	en
heal.classification	Administration
heal.classification	Finance
heal.classification	Διοίκηση και οργάνωση
heal.classification	Οικονομία
heal.classificationURI	http://id.loc.gov/authorities/subjects/sh2002007910
heal.classificationURI	http://id.loc.gov/authorities/subjects/sh2007010582
heal.classificationURI	N/A-Διοίκηση και οργάνωση
heal.classificationURI	N/A-Οικονομία
heal.keywordURI	http://id.loc.gov/authorities/subjects/sh85111731
heal.keywordURI	http://id.loc.gov/authorities/subjects/sh2010109644
heal.identifier.secondary	doi:10.1016/j.irfa.2013.01.004
heal.language	en
heal.access	campus
heal.recordProvider	Τεχνολογικό Εκπαιδευτικό Ίδρυμα Αθήνας. Σχολή Διοίκησης και Οικονομίας. Τμήμα Διοίκησης Επιχειρήσεων. Κατεύθυνση Διοίκηση Επιχειρήσεων	el
heal.publicationDate	2013-09
heal.bibliographicCitation	Philippas, N. D., Economou, F., Babalos, V. and Kostakis, A. (2013). Herding behavior in REITs: novel tests and the role of financial crisis. "International Review of Financial Analysis", vol. 29, September 2013. pp. 166–174. Available from: http://www.sciencedirect.com/science/article/pii/S1057521913000057. [Accessed 01/02/2013]	en
heal.abstract	This study examines the existence of herding effects in the US REIT market, constructing a survivorship-bias-free dataset of daily returns during the period January 2004–December 2011. Apart from documenting the existence of herding behavior by conducting comprehensive tests, we also explore new channels through which this may be intensified. Deterioration of investors' sentiment and adverse macro-shocks to REIT funding conditions are found to be significantly related to the emergence of herding behavior. Contrary to common belief, however, the recent financial crisis did not seem to contribute to this phenomenon. Finally, asymmetric herding effects are documented during the days of negative market returns.	en
heal.journalName	International Review of Financial Analysis	en
heal.journalType	peer-reviewed
heal.fullTextAvailability	true