Familiarity Breeds Investment
Familiarity Breeds Investment
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DOI：
10.2139/ssrn.199314
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发表时间：
1999-11
期刊：
影响因子：
--
通讯作者：
Gur Huberman
中科院分区：
文献类型：
--
作者：
Gur Huberman
区域贝尔运营公司 (RBOC) 的股东往往居住在其服务的地区，而 RBOC 的客户往往持有其股份，而不是其他 RBOC 的股权。 RBOC投资者的地域偏见与家庭投资组合集中化的总体趋势、雇员在退休账户中拥有雇主股票的趋势以及国际舞台上的母国偏见密切相关。这些现象共同提供了令人信服的证据，证明人们投资于熟悉的事物，而往往忽视了投资组合理论的原则。牛津大学出版社代表金融研究学会在其期刊《金融研究评论》上发表的文章。
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 compelling evidence that people invest in the familiar while often ignoring the principles of portfolio theory. Article published by Oxford University Press on behalf of the Society for Financial Studies in its journal, The Review of Financial Studies.