Deshpande, Shreesh; Svetina, Marko - In: Managerial Finance 37 (2011) October, pp. 1190-1212
Purpose – Recent research on local bias provides evidence that investors' portfolios include a non-negligible allocation to stocks in firms that are geographically proximate to the investors. The reasons postulated for local bias include familiarity with firms, “word-of-mouth”...