How to accurately and effectively grasp herding behavior is one of the crucial and challenging issues in the field of financial risk management. Most herding-based paradigms are strictly limited to over-idealized assumptions such as fully connected among individuals or regular structure to local neighborhoods, and the drawbacks are actually obvious. Using a sample of Chinese A-shares from 2006 to 2021, we create a series of daily networks and modify the classical Cross-Sectional Absolute Deviation model by introducing a network topological variable, the Laplacian-energy-like measure. We find t...
