portfolio diversification—NPD) or engage in naïve buying diversification (NBD)—equally balancing values in same-day purchases of … suggests that NBD substantially reduces investor welfare. These findings suggest that behavioral finance theory should …

The benefits of international diversification have been recognized for decades. In spite of this, most investors hold … domestic equity market to be several hundred basis points higher than returns in other markets. This lack of diversification …

One possible explanation for home bias is that investors may obtain indirect international diversification benefits by … tests to examine the diversification potential of multinational firms and foreign market indices for investors domiciled in … multinational stocks. However, there is weak evidence that U.S. multinationals provided global diversification benefits in the full …

average 1990 salary gains of $115,000 to $145,000 per year for our sample. Diversification may raise pay because the CEO's job … the diversification premium to be invariant to tenure. Entrenchment models suggest higher premia for more experienced … over an entrenchment explanation. The diversification premium is unaffected by tenure, and increasing diversification …

domestic shares under full diversification. When stock-market data are directly used, the predicted coefficient of home bias …

diversification declined significantly during the second half of the decade. The mean number of industries in which firms operated … operated. using plant-level Census Bureau data, we show that productivity is inversely related to the degree of diversification …, the lower the productivity of its plants. Hence de-diversification is one of the means by which recent takeovers have …