Deshpande, Shreesh; Svetina, Marko - In: Managerial Finance 37 (2011) October, pp. 1190-1212
Purpose – Recent research on local bias provides evidence that investors' portfolios include a non …-negligible allocation to stocks in firms that are geographically proximate to the investors. The reasons postulated for local bias include …-documented local bias in investors' portfolios. Design/methodology/approach – Using a hand-collected panel dataset spanning 15 years of …