diversification, and holdings of an employer's stock. We find that each of these variables is correlated with sophistication, with …

We study the effect of financial markets on "optimal" diversification defined in the spirit of mean-variance efficiency … diversification based on the mechanical spreading of output across sectors …

The current market malaise may keep some investors on the sidelines. The benefits of diversification may not seem as … math, that diversification maintained by rebalancing can easily turn individual assets' negative cumulative returns into …

diversification on bank risk-taking. Our results show that the relation between portfolio diversification and bank risk-taking is both … time a specific channel through which financial development, in the form of bank shareholders' diversification, affects the …

We ask whether a portfolio of large-cap mutual funds in India generates any diversification benefits as compared to … limited diversification benefits in a portfolio of two or more large-cap funds. A majority of the funds have similar risk …

We introduce a new framework for understanding portfolio diversification that provides a coherent basis for comparing … methodologies and offers a new approach to portfolio construction. The primary argument is that measures of diversification based … import. To resolve this we propose that the purpose of diversification is most helpfully viewed as reducing the variance of …