摘要：The securities investment fund is the largest investor in China, and its herding has an important impact on the securities market. This article takes the seasonal data of the open-end fund from the 1st season in 2010 to the 4th season in 2013 as the sample and uses the corrected LSV model to make an empirical inspection for the herding in Chinese securities investment fund. The result shows that there’s a serious herding in Chinese securities investment fund. It is found from the further research that the herding degree has a positive correlation with the securities market fluctuation, so it intensifies the fluctuation in the securities market.
