HERDING IN CRYPTOCURRENCIES: CSSD AND CSAD APPROACHES
Abstract:
This paper uses CSSD developed by Christie and Huang (1995) and CSAD developed by Chang, Cheng, and Khorana (2000) to test for herding in cryptocurrencies over the period 21/09/2018- 21/09/2022. Two sets of cryptocurrencies were considered, one containing the 34 largest cryptocurrencies by market capitalisation and the other containing 15 cryptocurrencies with market capitalisations under $200 million. Any cryptocurrencies launched after 21/09/2018 were excluded from the samples in the interests of consistency. Using CSSD, no herding was detected while with CSAD a weak herding effect was observed, though the results were not statistically significant. This paper has important implications for cryptocurrency investors, researchers, and policymakers.
CITATION:
IEEE format
L. Deighton Chrisostomides, “Herding in Cryptocurrencies: CSSD and CSAD Approaches,” in FINIZ 2022 - Business Resilience in a Changing World, Belgrade, Singidunum University, Serbia, 2022, pp. 52-56. doi: 10.15308/finiz-2022-52-56
APA format
Deighton Chrisostomides, L. (2022). Herding in Cryptocurrencies: CSSD and CSAD Approaches. Paper presented at FINIZ 2022 - Business Resilience in a Changing World. doi:10.15308/finiz-2022-52-56
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