Herding in international REITs markets around the COVID-19 pandemic
| dc.contributor.author | Lesame, Keagile | |
| dc.contributor.author | Ngene, Geoffrey M. | |
| dc.contributor.author | Gupta, Rangan | |
| dc.contributor.author | Bouri, Elie | |
| dc.date.accessioned | 2024-01-12T07:25:07Z | |
| dc.date.available | 2024-01-12T07:25:07Z | |
| dc.date.issued | 2024-01 | |
| dc.description | DATA AVAILABILITY : The authors do not have permission to share data. | en_US |
| dc.description.abstract | This paper investigates whether investors in international Real Estate Investment Trusts (REITs) markets engage in herding behaviour due to the economic uncertainty induced by the COVID-19 pandemic in 2020. Using a comprehensive sample of 27 countries encompassing both developed and emerging markets, the results show consistent evidence of herding formation in international REITs markets based on both static and time-varying estimates. International herding is mainly driven by herding in developed market REITs. Further analysis provides a direct evidence showing that herding in REITs markets during the pandemic resulted from the economic uncertainty brought on by the global health crisis. A quantile-on-quantile regression reveals that higher uncertainty associated with COVID-19 pandemic intensifies herding. | en_US |
| dc.description.department | Economics | en_US |
| dc.description.librarian | hj2023 | en_US |
| dc.description.sdg | SDG-08:Decent work and economic growth | en_US |
| dc.description.uri | https://www.elsevier.com/locate/ribaf | en_US |
| dc.identifier.citation | Lesame, K., Ngene, G., Gupta, R. et al. 2024, 'Herding in international REITs markets around the COVID-19 pandemic', Research in International Business and Finance, vol. 67, art. 102147, pp. 1-9, doi : 10.1016/j.ribaf.2023.102147. | en_US |
| dc.identifier.issn | 0275-5319 | |
| dc.identifier.other | 10.1016/j.ribaf.2023.102147 | |
| dc.identifier.uri | http://hdl.handle.net/2263/93935 | |
| dc.language.iso | en | en_US |
| dc.publisher | Elsevier | en_US |
| dc.rights | © 2023 Elsevier B.V. All rights reserved. Notice : this is the author’s version of a work that was submitted for publication in Research in International Business and Finance. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms are not reflected in this document. A definitive version was subsequently published in Research in International Business and Finance, vol. 67, art. 102147, pp. 1-9, 2024, doi : 10.1016/j.ribaf.2023.102147. | en_US |
| dc.subject | International REITs | en_US |
| dc.subject | Real estate investment trusts (REITs) | en_US |
| dc.subject | Herding | en_US |
| dc.subject | COVID-19 pandemic | en_US |
| dc.subject | Coronavirus disease 2019 (COVID-19) | en_US |
| dc.subject | Quantile-on-quantile regression | en_US |
| dc.subject | Probit model | en_US |
| dc.subject | SDG-08: Decent work and economic growth | en_US |
| dc.title | Herding in international REITs markets around the COVID-19 pandemic | en_US |
| dc.type | Preprint Article | en_US |