TY - JOUR
AU1 - Huberman, Gur
AB - Shareholders of a Regional Bell Operating Company (RBOC) tend to live in the area which it serves, and an RBOC’s customers tend to hold its shares rather than other RBOCs’ equity. The geographic bias of the RBOC investors is closely related to the general tendency of households’ portfolios to be concentrated, of employees’ tendency to own their employers’ stocks in their retirement accounts, and to the home country bias in the international arena. Together, these phenomena provide compeling evidence that people invest in the familiar while often ignoring the principles of portfolio theory.
TI - Familiarity Breeds Investment
JF - The Review of Financial Studies
DO - 10.1093/rfs/14.3.659
DA - 2001-07-01
UR - https://www.deepdyve.com/lp/oxford-university-press/familiarity-breeds-investment-11Ae7gGF0n
SP - 659
EP - 680
VL - 14
IS - 3
DP - DeepDyve