Distinguishing two components of the preference for geographical proximity – the domestic country bias assessing … investors' holdings within the domestic market, and the foreign country bias assessing investors' bilateral holdings within a … report several positive country bias ratios suggesting that the source country's investors overweigh the destination market …

I provide an analysis of the home bias in international equity investments using data for the year-end 2006 …. Distinguishing two components of the local equity preference – the “domestic country bias” indicating whether local investors … overinvest the domestic market, and the “foreign country bias” indicating whether investors overinvest or underinvest a …