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Individual Investor...
Individual Investors’ Portfolio Choice and Birthplace Bias
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- Lindblom, Ted, 1956 (författare)
- Gothenburg University,Göteborgs universitet,Företagsekonomiska institutionen,Department of Business Administration
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- Mavruk, Taylan, 1977 (författare)
- Gothenburg University,Göteborgs universitet,Centrum för finans,Företagsekonomiska institutionen, Industriell och Finansiell ekonomi & logistik,Centre for Finance,Department of Business Administration, Industrial and Financial Management & Logistics
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- Sjögren, Stefan, 1965 (författare)
- Gothenburg University,Göteborgs universitet,Centrum för finans,Företagsekonomiska institutionen, Industriell och Finansiell ekonomi & logistik,Centre for Finance,Department of Business Administration, Industrial and Financial Management & Logistics
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(creator_code:org_t)
- Elsevier BV, 2012
- 2012
- Engelska.
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Ingår i: SSRN. - : Elsevier BV.
- Relaterad länk:
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https://gup.ub.gu.se...
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https://doi.org/10.2...
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Abstract
Ämnesord
Stäng
- This paper examines whether the geographical proximity bias of individual investors stems from information asymmetry or behavioral factors. We introduce the concept of ‘Birthplace Bias’ and find that the proximity bias is strongest for investors that have never moved away from the area they were born. It is stronger the longer the investor has lived in the same geographical area. However, neither local bias nor birthplace bias appears to pay off in terms of abnormal portfolio return. This has policy implications for the confidence in financial markets as it suggests that Efficient Market Hypothesis holds.
Ämnesord
- SAMHÄLLSVETENSKAP -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
- SOCIAL SCIENCES -- Economics and Business -- Business Administration (hsv//eng)
Nyckelord
- Birthplace Bias
- Local Bias
- Individual Investors
- Information Asymmetry.
Publikations- och innehållstyp
- ref (ämneskategori)
- for (ämneskategori)
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