Showing 1 - 10 of 15,134
We study how investor's persistent preference to invest more in the home market — “home bias” — is affecting investor … climate risk. This paper analyzes the carbon exposure and home bias of stock portfolios across a wide range of different … area investors are related to home bias. The bias to invest more in carbon-intensive firms from the domestic and EU …
Persistent link: https://www.econbiz.de/10012830456
We investigate the extent to which investors exhibit carbon home bias: disproportionate investment in carbon … relationship between carbon home bias, divestment and disclosure. We show that investors exhibit significant carbon home bias, with … home bias is not driven by differential home-foreign carbon risk premia, but instead suggest investors’ successful …
Persistent link: https://www.econbiz.de/10014349709
study an international home bias in fund manager selection in private equity. We find that limited partners overweigh their … investments with fund managers domiciled in the same geographical region by 45% on average. The home bias in local fund manager …
Persistent link: https://www.econbiz.de/10013237849
100% for the largest domestic industries. While this foreign industry bias partly reflects familiarity-based motives, a … learning motive contributing to the bias. This suggests that differences in industry structures across domestic stock markets …
Persistent link: https://www.econbiz.de/10012973329
We provide new evidence that international portfolios reflect the underlying heterogeneity in investors' beliefs. Using data on foreign sovereign debt holdings of European banks matched with their forecasts on future bond yields, we find that expecting higher returns and having more accurate...
Persistent link: https://www.econbiz.de/10012853249
We provide new evidence that international portfolios reflect the underlying heterogeneity in investors' beliefs. Using data on foreign sovereign debt holdings of European banks matched with their forecasts on future bond yields, we find that expecting higher returns and having more accurate...
Persistent link: https://www.econbiz.de/10012853652
"home bias" is independent of the degree of global involvement and visibility of these U.S. firms. While these firms have …
Persistent link: https://www.econbiz.de/10013160502
This paper introduces a return-based approach to studying a possible home bias of equity funds by estimating their … in a particular country. Our findings reveal that the portfolios of four domiciles show a significant home bias. Moreover …. Finally, a home bias of individual funds is not related to superior performance, but actually results in higher investment …
Persistent link: https://www.econbiz.de/10012936446
This paper analyzes determinants of home bias in equity funds based on monthly holdings data using panel and quantile … from January 2003 to December 2016. More than ninety percent of our sample funds show, on average, a home bias. In addition …, the home bias across funds is quite stable over time. Analyzing the determinants of this home bias, our empirical results …
Persistent link: https://www.econbiz.de/10012890440
We examine international equity allocations at the fund level and show how different returns on the foreign and domestic proportion of portfolios determine rebalancing behavior and trigger capital flows. We document the heterogeneity of rebalancing across fund types, its greater intensity under...
Persistent link: https://www.econbiz.de/10011875988