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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Herding in Dhaka Stock Exchange
Author(s): A. F. M. Mainul Ahsan, Ahasan H Sarkar
Citation: A. F. M. Mainul Ahsan, Ahasan H Sarkar, (2013) "Herding in Dhaka Stock Exchange," Journal of Applied Business and Economics, Vol. 14, Iss. 2, pp. 11-19
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This paper examines herding in Dhaka Stock Exchange (DSE) in Bangladesh. Daily and monthly returns
for all the stocks listed on DSE for the period of January, 2005 to December, 2011, including the market
crash in December, 2010, have been used in this study. Using Cross-Sectional Standard Deviation
(CSSD) and Cross-Sectional Absolute Deviation (CSAD) technique, this study did not detect existence of
herding in Dhaka Stock Exchange for the above mentioned time period. Absence of herding in
Bangladesh depicts that investors in DSE are rational and make investment decisions based on
information available in the marketplace rather than following the market consensus.
