... likely in emergingmarket financial instruments than in those available in developed markets. Herding in Emerging Stock Markets In the aftermath of the recent crises in emerging markets, considerable ... empiricalresearch on herd behavior in financial markets. It looks at what precisely ismeant by herding, the causes of herd behavior, the success of existing studies in identifying the phenomenon, ... players in making their own investmentdecisions regarding small stocks. LSV’s examinations of herding conditional onpast stock performance, of herding within certain industry groups and betweenindustries,...