• Corpus ID: 212580480

HERDING BEHAVIOR IN STUDENT MANAGED INVESTMENT FUNDS: IDENTIFICATION, IMPACT AND REDUCTION

@inproceedings{Caldwell2015HERDINGBI,
  title={HERDING BEHAVIOR IN STUDENT MANAGED INVESTMENT FUNDS: IDENTIFICATION, IMPACT AND REDUCTION},
  author={Craig Caldwell and Douglas J. Dolvin},
  year={2015}
}
Student Managed Investment Funds (SMIFs) have grown in number; unfortunately, there has been little research on the efficacy of these funds. We fill this gap by exploring the potential consequences of student investment management. We find that investment decisions are often impacted by herding behavior, which results in underperformance. We further examine characteristics that influence the likelihood of herding, finding that pre-existing knowledge of the company under consideration, as well… 

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