Norden, Lars - In: The European Journal of Finance 16 (2010) 4, pp. 329-351
, portfolio churning and performance. Results indicate that home bias induces a worse risk-adjusted performance. Home …-biased individuals' relatively bad performance originates in insufficient risk-reduction, due to a lack of international diversification …. A higher degree of portfolio churning also deteriorates performance, despite the fact that churning is not associated …