What’s in a Name? An Experimental Examination of Investment Behavior
AbstractA fundamental unresolved issue is whether information asymmetries underlie investors’ predisposition to invest close to home (i.e., domestically or locally). We conduct experiments in the United States and Canada to investigate agents’ portfolio allocation decisions, controlling for the availability of information. Providing participants with information about a firm’s home base, without disclosing its specific identity, is not sufficient to change investment behavior. Rather, participants need to know a firm’s name and home base. Additional evidence indicates that participants have a greater perceived familiarity with local and domestic securities and, in turn, invest more in such securities. Copyright Springer 2005
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Springer in its journal Review of Finance.
Volume (Year): 9 (2005)
Issue (Month): 2 (06)
Contact details of provider:
Web page: http://springerlink.metapress.com/link.asp?id=111870
Other versions of this item:
- Lucy F. Ackert & Bryan K. Church & James Tompkins & Ping Zhang, 2003. "What's in a name? An experimental examination of investment behavior," Working Paper 2003-12, Federal Reserve Bank of Atlanta.
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- H. Henry Cao & Bing Han & David Hirshleifer & Harold H. Zhang, 2011.
"Fear of the Unknown: Familiarity and Economic Decisions,"
Review of Finance,
European Finance Association, vol. 15(1), pages 173-206.
- Cao, Henry & Han, Bing & Hirshleifer, David & Zhang, Harold, 2007. "Fear of the Unknown: Familiarity and Economic Decisions," MPRA Paper 6512, University Library of Munich, Germany.
- Dennis Dlugosch & Kristian Horn & Mei Wang, 2014. "Behavioral determinants of home bias - theory and experiment," Working Papers 2014-11, Faculty of Economics and Statistics, University of Innsbruck.
- John Ammer & Sara B. Holland & David C. Smith & Francis E. Warnock, 2004. "Look at me now: the role of cross-listing in attracting U.S. investors," International Finance Discussion Papers 815, Board of Governors of the Federal Reserve System (U.S.).
- John Ammer & Sara B. Holland & David C. Smith & Francis E. Warnock, 2006. "Look at Me Now: What Attracts U.S. Shareholders?," NBER Working Papers 12500, National Bureau of Economic Research, Inc.
- Baltzer, Markus & Stolper, Oscar & Walter, Andreas, 2011. "Home-field advantage or a matter of ambiguity aversion? Local bias among German individual investors," Discussion Paper Series 1: Economic Studies 2011,23, Deutsche Bundesbank, Research Centre.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.