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This book helps readers understand the widely documented distortion in the portfolio choice of individual investors toward proximate firms - the proximity bias phenomenon. First, it recapitulates the fundamentals of modern portfolio theory. It then goes on to describe and demonstrate different...
Persistent link: https://www.econbiz.de/10012397287
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This book helps readers understand the widely documented distortion in the portfolio choice of individual investors toward proximate firms – the proximity bias phenomenon. First, it recapitulates the fundamentals of modern portfolio theory. It then goes on to describe and demonstrate different...
Persistent link: https://www.econbiz.de/10012949811
This paper examines the determinants of herding at both stock and individual investor levels and studies the portfolio performance of herd vs. non-herd portfolios using machine learning algorithms. The disposition effect and the attention effect seem to explain herding behavior at the stock...
Persistent link: https://www.econbiz.de/10014236799