Investors who only invest in their domestic market are typically referred to as being home-biased. We refer to firm-level internationalization and call into question whether investing in domestic stock indices actually leads to home bias. We use three measures of firm-level internationalization...

We examine the relation between households' wealth and relative risk aversion (RRA) in two different frameworks: the Behavioral Portfolio Theory (BPT) and Merton's (1969) consumption and portfolio choice model (CPCM). We apply the BPT to field data for the first time and show that the BPT...

Investors who only invest in their domestic market are typically referred to as being home-biased. We refer to firm-level internationalization and call into question whether investing in domestic stock indices actually leads to home bias. We use three measures of firm-level internationalization...

We examine the relation between households’ wealth and relative risk aversion (RRA) in two different frameworks: the Behavioral Portfolio Theory (BPT) and Merton’s consumption and portfolio choice model (CPCM). We apply the BPT to field data for the first time and show that the BPT provides...

The success of trading strategies that lead to abnormal excess returns based on annual/monthly investment periods has recently declined significantly. We adopt the original frameworks of De Bondt and Thaler (J Finance 40(3):793–808, 1985) and Jegadeesh and Titman (J Finance 48(1):65–91,...