This paper reviews the relatively more recent literature on equity home bias–the empirical
finding that people overinvest in domestic stocks relative to the optimal investment portfolio …

This paper explores the linkages among the different stock markets in the Greater China
region (China, Hong Kong, and Taiwan). The empirical findings show no indications of long …

Behavioral Finance helps investors understand unusual asset prices and empirical
observations originating out of capital markets. At its core, this field of study aids investors in …

Over the last 15 years, dramatically decreasing foreign investment costs have not reduced
the home bias. We show that the home bias induced by a given cost is proportional to the …

Real-world portfolio composition is often far from being mean-variance optimal. One of the
phenomena documented in investment portfolios is the home-bias effect, that is, investors …

In this paper, we study the optimal investment problem considering the herd behaviour
between two agents, including one leading expert and one following agent whose decisions …

This paper explains the choice of the cross-listing location with particular emphasis on the
level of investor protection provided by the host market. We find that firms with concentrated …

This paper tests the cross‐sectional implications of “kee**‐up‐with‐the‐Joneses”(KUJ)
preferences in an international setting. When agents have KUJ preferences, in the presence …

ABSTRACT A recent class of models on 'kee** up with the Joneses' suggests that
comparison with the consumption of other individuals affects individual utility. This paper …

We extend the study of the disposition effect− the preference for selling (holding) current
winning (losing) stocks− by adding a new element to this decision process: the investors' …