JOURNAL OF ACCOUNTING AND FINANCE
How COVID-19 Affected Herding Behavior in the Jordanian Stock Market
Author(s): Mohammad Elshqirat
Citation: Mohammad Elshqirat, (2021) "How COVID-19 Affected Herding Behavior in the Jordanian Stock Market," Journal of Accounting and Finance, Vol. 21, Iss. 3, pp. 115-124
Article Type: Research paper
Publisher: North American Business Press
Abstract:
The main purpose of this study was to test the effect of COVID-19 pandemic on the presence of herding behavior in Amman stock exchange at market-level and at industry-level. This quantitative study covered five years and three months before the COVID-19 pandemic (from January 2015 to March 2020) and eight months during the pandemic (from May to December 2020). The cross-sectional absolute deviation (CSAD) was used to test the presence of herding in the market and in its sectors. Study results suggested that the COVID-19 pandemic has no effect on herding behavior in the Jordanian market at both market-level and industry-level.