{"id":"https://openalex.org/W4388078960","doi":"https://doi.org/10.1108/rbf-05-2023-0121","title":"Investigation of herding behavior using machine learning models","display_name":"Investigation of herding behavior using machine learning models","publication_year":2023,"publication_date":"2023-10-31","ids":{"openalex":"https://openalex.org/W4388078960","doi":"https://doi.org/10.1108/rbf-05-2023-0121"},"language":"en","primary_location":{"id":"doi:10.1108/rbf-05-2023-0121","doi":"https://doi.org/10.1108/rbf-05-2023-0121","is_oa":false,"landing_page_url":"https://doi.org/10.1108/rbf-05-2023-0121","pdf_url":null,"source":{"id":"https://openalex.org/S35075559","display_name":"Review of Behavioral Finance","issn_l":"1940-5987","issn":["1940-5987","1940-5979"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-3"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Behavioral Finance","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5002013974","display_name":"Muhammad Asim","orcid":"https://orcid.org/0009-0009-4229-7643","observed_orcids":["https://orcid.org/0009-0009-4229-7643"]},"institutions":[{"id":"https://openalex.org/I16076960","display_name":"COMSATS University Islamabad","ror":"https://ror.org/00nqqvk19","country_code":"PK","type":"education","lineage":["https://openalex.org/I16076960"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Muhammad Asim","raw_affiliation_strings":["Department of Management Sciences, COMSATS University Islamabad, Wah Campus, Wah Cantt, Pakistan"],"raw_orcid":"https://orcid.org/0009-0009-4229-7643","affiliations":[{"raw_affiliation_string":"Department of Management Sciences, COMSATS University Islamabad, Wah Campus, Wah Cantt, Pakistan","institution_ids":["https://openalex.org/I16076960"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5081093675","display_name":"Muhammad Yar Khan","orcid":"https://orcid.org/0000-0003-0731-9260","observed_orcids":["https://orcid.org/0000-0003-0731-9260"]},"institutions":[{"id":"https://openalex.org/I16076960","display_name":"COMSATS University Islamabad","ror":"https://ror.org/00nqqvk19","country_code":"PK","type":"education","lineage":["https://openalex.org/I16076960"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Muhammad Yar Khan","raw_affiliation_strings":["Department of Management Sciences, COMSATS University Islamabad, Wah Campus, Wah Cantt, Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Management Sciences, COMSATS University Islamabad, Wah Campus, Wah Cantt, Pakistan","institution_ids":["https://openalex.org/I16076960"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5076232098","display_name":"Khuram Shafi","orcid":"https://orcid.org/0000-0003-3416-4241","observed_orcids":["https://orcid.org/0000-0003-3416-4241"]},"institutions":[{"id":"https://openalex.org/I16076960","display_name":"COMSATS University Islamabad","ror":"https://ror.org/00nqqvk19","country_code":"PK","type":"education","lineage":["https://openalex.org/I16076960"]}],"countries":["PK"],"is_corresponding":false,"raw_author_name":"Khuram Shafi","raw_affiliation_strings":["Department of Management Sciences, COMSATS University Islamabad, Wah Campus, Wah Cantt, Pakistan"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Management Sciences, COMSATS University Islamabad, Wah Campus, Wah Cantt, Pakistan","institution_ids":["https://openalex.org/I16076960"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I16076960"],"apc_list":null,"apc_paid":null,"fwci":2.0711,"has_fulltext":false,"cited_by_count":12,"citation_normalized_percentile":{"value":0.87503931,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":93,"max":98},"biblio":{"volume":"16","issue":"3","first_page":"424","last_page":"438"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.95169997215271,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.95169997215271,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11326","display_name":"Stock Market Forecasting Methods","score":0.033900000154972076,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.009100000374019146,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/herding-behavior","display_name":"herding behavior","score":0.9760000109672546},{"id":"https://openalex.org/keywords/uk-stock-market","display_name":"UK stock market","score":0.8629999756813049},{"id":"https://openalex.org/keywords/economic-uncertainty","display_name":"economic uncertainty","score":0.9800000190734863},{"id":"https://openalex.org/keywords/support-vector-regression","display_name":"support vector regression","score":0.7829999923706055},{"id":"https://openalex.org/keywords/multilayer-perceptron","display_name":"multilayer perceptron","score":0.925000011920929},{"id":"https://openalex.org/keywords/single-layer-perceptron","display_name":"single-layer perceptron","score":0.9929999709129333},{"id":"https://openalex.org/keywords/2008-financial-crisis","display_name":"2008 financial crisis","score":0.7839999794960022},{"id":"https://openalex.org/keywords/covid-19-impact-on-markets","display_name":"COVID-19 market impact","score":0.8529999852180481},{"id":"https://openalex.org/keywords/investor-behavior","display_name":"investor behavior","score":0.46299999952316284},{"id":"https://openalex.org/keywords/market-anomalies","display_name":"market anomalies","score":0.6949999928474426}],"concepts":[{"id":"https://openalex.org/C177605951","wikidata":"https://www.wikidata.org/wiki/Q1484503","display_name":"Herding","level":2,"score":0.9361947774887085},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5875276327133179},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.5563501119613647},{"id":"https://openalex.org/C102235558","wikidata":"https://www.wikidata.org/wiki/Q1609678","display_name":"Herd behavior","level":3,"score":0.5049923062324524},{"id":"https://openalex.org/C179717631","wikidata":"https://www.wikidata.org/wiki/Q2991667","display_name":"Multilayer perceptron","level":3,"score":0.5015208721160889},{"id":"https://openalex.org/C60908668","wikidata":"https://www.wikidata.org/wiki/Q690207","display_name":"Perceptron","level":3,"score":0.4854884445667267},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.46698516607284546},{"id":"https://openalex.org/C2781410264","wikidata":"https://www.wikidata.org/wiki/Q440364","display_name":"Market sentiment","level":2,"score":0.42919594049453735},{"id":"https://openalex.org/C50644808","wikidata":"https://www.wikidata.org/wiki/Q192776","display_name":"Artificial neural network","level":2,"score":0.41763606667518616},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.41689008474349976},{"id":"https://openalex.org/C12267149","wikidata":"https://www.wikidata.org/wiki/Q282453","display_name":"Support vector machine","level":2,"score":0.4152473211288452},{"id":"https://openalex.org/C154945302","wikidata":"https://www.wikidata.org/wiki/Q11660","display_name":"Artificial intelligence","level":1,"score":0.3863055109977722},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3749732971191406},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.365911066532135},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.1323186457157135},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.0},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C97137747","wikidata":"https://www.wikidata.org/wiki/Q38112","display_name":"Forestry","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1108/rbf-05-2023-0121","doi":"https://doi.org/10.1108/rbf-05-2023-0121","is_oa":false,"landing_page_url":"https://doi.org/10.1108/rbf-05-2023-0121","pdf_url":null,"source":{"id":"https://openalex.org/S35075559","display_name":"Review of Behavioral Finance","issn_l":"1940-5987","issn":["1940-5987","1940-5979"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-3"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Behavioral Finance","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:eme:rbfpps:rbf-05-2023-0121","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/RBF-05-2023-0121/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":48,"referenced_works":["https://openalex.org/W1513172979","https://openalex.org/W1522301498","https://openalex.org/W1533861849","https://openalex.org/W1547068196","https://openalex.org/W1665214252","https://openalex.org/W1840447345","https://openalex.org/W1965898788","https://openalex.org/W1992563875","https://openalex.org/W1993443607","https://openalex.org/W1995830454","https://openalex.org/W2029056003","https://openalex.org/W2034874274","https://openalex.org/W2047803175","https://openalex.org/W2067015906","https://openalex.org/W2067331479","https://openalex.org/W2089994424","https://openalex.org/W2095673494","https://openalex.org/W2163685283","https://openalex.org/W2180736400","https://openalex.org/W2509632655","https://openalex.org/W2593688467","https://openalex.org/W2736534708","https://openalex.org/W2751602609","https://openalex.org/W2757213796","https://openalex.org/W2790572384","https://openalex.org/W2901312569","https://openalex.org/W2920901284","https://openalex.org/W2934720860","https://openalex.org/W2937112374","https://openalex.org/W2942833356","https://openalex.org/W2952179261","https://openalex.org/W2966861509","https://openalex.org/W3004946425","https://openalex.org/W3015646716","https://openalex.org/W3046612064","https://openalex.org/W3083779264","https://openalex.org/W3122183745","https://openalex.org/W3122701877","https://openalex.org/W3122944446","https://openalex.org/W3124669904","https://openalex.org/W3124798136","https://openalex.org/W3125011952","https://openalex.org/W3125581716","https://openalex.org/W3125754252","https://openalex.org/W3126001324","https://openalex.org/W4224145081","https://openalex.org/W4251135403","https://openalex.org/W4321435128"],"related_works":["https://openalex.org/W4366256677","https://openalex.org/W4409965615","https://openalex.org/W4413899214","https://openalex.org/W7084082274","https://openalex.org/W4405516474","https://openalex.org/W4392729813","https://openalex.org/W4401905922","https://openalex.org/W2991363949","https://openalex.org/W2586299342","https://openalex.org/W3083779264"],"abstract_inverted_index":{"Purpose":[0],"The":[1,27,86,113,133,172,228,323,380],"study":[2,337,381],"aims":[3],"to":[4,67,84,101,241,286,355,392],"investigate":[5,68,356],"the":[6,12,25,31,36,46,61,69,79,103,107,111,116,121,125,128,143,147,155,158,164,166,186,206,209,212,224,252,270,291,297,310,320,357,361,365,374,378,385,394],"presence":[7,70],"of":[8,15,48,71,110,139,146,174,188,199,219,255,280,299,312,364,376,387],"herding":[9,72,104,117,140,189,220,256,300,321,358,395],"behavior":[10,73,105,141,190,221,301,359],"in":[11,35,74,106,142,163,191,222,269,278,319,360],"stock":[13,76,108,144,193,362],"market":[14,77,109,145,194,247,281,363],"UK":[16,75,148,192],"with":[17,127,211],"a":[18,136,169],"special":[19],"emphasis":[20],"on":[21,30,45,384],"news":[22,32,53,161,258,390],"sentiment":[23,33,162,259,391],"regarding":[24,260],"economy.":[26],"authors":[28,62,87,114,156,207],"focus":[29],"because":[34],"current":[37,49],"digital":[38],"era,":[39],"investors":[40,237],"take":[41],"their":[42],"decision":[43],"making":[44],"basis":[47],"trends":[50],"projected":[51],"by":[52],"and":[54,96,123,181,201,238,245,284,330,350],"media":[55],"platforms.":[56],"Design/methodology/approach":[57],"For":[58],"empirical":[59],"modeling,":[60],"use":[63,88,311],"machine":[64,313,324],"learning":[65,314,325],"models":[66,100,122,315,326],"for":[78,234],"period":[80],"starting":[81],"from":[82],"2006":[83],"2021.":[85],"support":[89,175,351],"vector":[90,176,352],"regression,":[91,177],"single":[92,178,343],"layer":[93,179,344],"neural":[94,98],"network":[95,99],"multilayer":[97,182,347],"predict":[102,393],"UK.":[112,366],"estimate":[115],"coefficients":[118],"using":[119],"all":[120,223,377],"compare":[124,208],"findings":[126,210],"linear":[129,213],"regression":[130,214,353],"model.":[131],"Findings":[132],"results":[134,167,173,229,295,375],"show":[135,168,185],"strong":[137],"evidence":[138,187,218],"during":[149,195],"different":[150,303,340],"time":[151],"regimes.":[152],"Furthermore,":[153],"when":[154,302],"incorporate":[157],"economic":[159,261,388],"uncertainty":[160,262,389],"model,":[165,346],"significant":[170],"improvement.":[171],"perceptron":[180,183,345,348],"model":[184,349,354],"global":[196],"financial":[197],"crises":[198],"2007\u201308":[200],"COVID\u201919":[202],"period.":[203],"In":[204,251,289,307],"addition,":[205,290],"which":[215],"provides":[216],"no":[217],"regimes":[225],"except":[226],"COVID\u201919.":[227],"also":[230,371],"provide":[231,331],"deep":[232],"insights":[233],"both":[235],"individual":[236],"policy":[239],"makers":[240],"construct":[242],"efficient":[243],"portfolios":[244],"avoid":[246],"crashes,":[248],"respectively.":[249],"Originality/value":[250],"existing":[253],"literature":[254,292],"behavior,":[257],"has":[263],"not":[264],"been":[265],"used":[266],"before.":[267],"However,":[268],"present":[271],"era":[272],"this":[273,308,335],"parameter":[274],"is":[275,316,370],"quite":[276,317,328],"critical":[277],"context":[279],"anomalies":[282],"hence":[283],"needs":[285],"be":[287],"investigated.":[288],"exhibits":[293],"varying":[294],"about":[296],"existence":[298],"methodologies":[304],"are":[305,327],"used.":[306],"context,":[309],"rare":[318],"literature.":[322],"robust":[329],"accurate":[332],"results.":[333],"Therefore,":[334],"research":[336],"uses":[338],"three":[339],"models,":[341],"i.e.":[342],"A":[367],"comparative":[368],"analysis":[369],"presented":[372],"among":[373],"models.":[379],"sheds":[382],"light":[383],"importance":[386],"behavior.":[396]},"counts_by_year":[{"year":2026,"cited_by_count":4},{"year":2025,"cited_by_count":6},{"year":2024,"cited_by_count":2}],"updated_date":"2026-11-12T12:28:57.059296","created_date":"2023-11-01T00:00:00"}
