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What Does a Concept Attract? The Case of Gaming in Macau
Rose Neng Lai1; Raymond W. So2; Ricardo Chi Sen Siu1
2008
Source PublicationThe Journal of Gambling Business and Economics
ISSN1751 8008
Volume2Issue:3Pages:1-22
Abstract

This paper examines herding behavior among Hong Kong investors using announcements of the opening of new casinos in Macau. The results show that there is a difference in the herding behavior toward these “Macau concept” stocks before and after the change in investment sentiment regarding Macau. Similar results are also revealed for the impact of announcements related to the Macau concept. Furthermore, investors in general herd more on selling than on buying upon a corresponding announcement. The evidence that is documented in this paper also suggests that there is herding around exceptional price and trading volume movements in the trading of Macau concept stocks.

DOIhttp://doi.org/10.5750/jgbe.v2i3.534
Indexed By其他
Language英语
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Document TypeJournal article
CollectionFaculty of Business Administration
DEPARTMENT OF FINANCE AND BUSINESS ECONOMICS
HONOURS COLLEGE
Corresponding AuthorRaymond W. So
Affiliation1.Department of Finance and Business Economics University of Macau
2.Department of Finance Chinese University of Hong Kong Hong Kong, China
First Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Rose Neng Lai,Raymond W. So,Ricardo Chi Sen Siu. What Does a Concept Attract? The Case of Gaming in Macau[J]. The Journal of Gambling Business and Economics,2008,2(3):1-22.
APA Rose Neng Lai,Raymond W. So,&Ricardo Chi Sen Siu.(2008).What Does a Concept Attract? The Case of Gaming in Macau.The Journal of Gambling Business and Economics,2(3),1-22.
MLA Rose Neng Lai,et al."What Does a Concept Attract? The Case of Gaming in Macau".The Journal of Gambling Business and Economics 2.3(2008):1-22.
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