The Existence of Herding Biases among Investors: A special reference to Odisha

Abstract

There are many studies has conducted in behavioural finance which identified that 
the behaviour of investors in share market are not rational. Herd behaviour is one of the 
biases behind the irrational behaviour of the investors. A lot of factors are there which leads 
to create the herding behaviour among the investors in the share market. To analyse the 
existence of this herd behaviour a structured questionnaire has prepared and circulate among 
the investors of Bhubaneswar and Cuttack region. According to their responses the present 
study has carried out to identify the factors which lead to the existence of herd behaviour. 
While analysing all the factors the impact of age on herd behaviour has also taken into the 
consideration.