HERD BEHAVIOR IN INTERNATIONAL MARKET

According to literature, herding can be observed not only within 7 single stock market, but also on international level. Poland has entrance to 8 Euro Zone in perspective, so especially interesting is answer to the question 9 whether herding is present on the stock markets of candidate countries to 10 Euro Zone? Moreover, whether this tendency will be more noticeable in 11 periods of higher volatility than during the periods of relative market 12 stability, as suggested by psychological theories.