The Empirical Research Of Open-Ended Funds Investors Herd Behavior In China

In this paper, we firstly overview the development and role of Open-end funds in China and herd behavior in stock market. Then review and summarize the herd behavior research from overseas and domestic scholars. We study the herd behavior come from different Open-end funds (including index type, stock type by bird type and bond type) in-vestors in general and extreme market situations by employing CSAD(Cross Section Absolute Deviation) families.We also get the time series value of different kinds of open-end fund herd behavior by employing the LSV model. We also analyze the time se-ries characters.At last, we also generate open-end fund herd behavior index by em-ploying LSV model, then we creating VEC model analyzing the herd be-havior response to different factors(SI OF IAV M1_M21)。...