Ke, Dongmin; Ng, Lilian; Wang, Qinghai - In: Journal of International Business Studies 41 (2010) 6, pp. 960-979
We analyze the US equity holdings of more than 3000 non-US-based mutual funds from 22 countries and find robust evidence that fund managers strongly prefer to invest in stocks of US firms that have presence in their home country. This “home bias” is independent of the degree of global...