메뉴 건너뛰기




Volumn 16, Issue 4, 2010, Pages 329-351

Individual home bias, portfolio churning and performance

Author keywords

Home bias; Individual investors; Performance; Portfolio churning

Indexed keywords


EID: 77953100085     PISSN: 1351847X     EISSN: 14664364     Source Type: Journal    
DOI: 10.1080/13518470903037813     Document Type: Article
Times cited : (11)

References (31)
  • 1
    • 84944838161 scopus 로고
    • International portfolio choice and corporate finance: A synthesis
    • Adler, M., and B. Dumas. 1983. International portfolio choice and corporate finance: A synthesis. Journal of Finance 38: 925-984.
    • (1983) Journal of Finance , vol.38 , pp. 925-984
    • Adler, M.1    Dumas, B.2
  • 2
    • 41549169555 scopus 로고    scopus 로고
    • Foreign investments of US individual investors: Causes and consequences
    • Bailey, W., A. Kumar, and D. Ng. 2008. Foreign investments of US individual investors: Causes and consequences. Management Science 54: 443-459.
    • (2008) Management Science , vol.54 , pp. 443-459
    • Bailey, W.1    Kumar, A.2    Ng, D.3
  • 3
    • 0037497348 scopus 로고    scopus 로고
    • Trading is hazardous to your wealth: The common stock performance of individual investors
    • Barber, B., and T. Odean. 2000. Trading is hazardous to your wealth: The common stock performance of individual investors. Journal of Finance 55: 773-806.
    • (2000) Journal of Finance , vol.55 , pp. 773-806
    • Barber, B.1    Odean, T.2
  • 4
    • 0040884260 scopus 로고    scopus 로고
    • Boys will be boys: Gender, overconfidence, and common stock investment
    • Barber, B., and T. Odean. 2001. Boys will be boys: Gender, overconfidence, and common stock investment. Quarterly Journal of Economics 141: 261-292.
    • (2001) Quarterly Journal of Economics , vol.141 , pp. 261-292
    • Barber, B.1    Odean, T.2
  • 6
    • 0002518156 scopus 로고    scopus 로고
    • US equity investment in foreign markets: Portfolio rebalancing or return chasing?
    • Bohn, H., and L. Tesar. 1996. US equity investment in foreign markets: Portfolio rebalancing or return chasing? American Economic Review 86: 77-81.
    • (1996) American Economic Review , vol.86 , pp. 77-81
    • Bohn, H.1    Tesar, L.2
  • 7
    • 0034403599 scopus 로고    scopus 로고
    • The value of active mutual fund management: An examination of the stockholdings and trades of fund managers
    • Chen, H., N. Jegadeesh, and R. Wermers. 2000. The value of active mutual fund management: An examination of the stockholdings and trades of fund managers. Journal of Financial and Quantitative Analysis 35: 343-368.
    • (2000) Journal of Financial and Quantitative Analysis , vol.35 , pp. 343-368
    • Chen, H.1    Jegadeesh, N.2    Wermers, R.3
  • 8
    • 21344496561 scopus 로고
    • Home bias in equity portfolios, inflation hedging, and international capital market equilibrium
    • Cooper, I., and E. Kaplanis. 1994. Home bias in equity portfolios, inflation hedging, and international capital market equilibrium. Review of Financial Studies 7: 45-60.
    • (1994) Review of Financial Studies , vol.7 , pp. 45-60
    • Cooper, I.1    Kaplanis, E.2
  • 9
    • 0007884883 scopus 로고    scopus 로고
    • Home bias at home: Local equity preference in domestic portfolios
    • Coval, J., and T. Moscowitz. 1999. Home bias at home: Local equity preference in domestic portfolios. Journal of Finance 54: 2045-2107.
    • (1999) Journal of Finance , vol.54 , pp. 2045-2107
    • Coval, J.1    Moscowitz, T.2
  • 11
    • 0010858944 scopus 로고    scopus 로고
    • The persistence of risk-adjusted mutual fund performance
    • Elton, E., M. Gruber, and C. Blake. 1996. The persistence of risk-adjusted mutual fund performance. Journal of Business 69: 133-157.
    • (1996) Journal of Business , vol.69 , pp. 133-157
    • Elton, E.1    Gruber, M.2    Blake, C.3
  • 12
    • 34047265507 scopus 로고    scopus 로고
    • Participant reaction and the performance of funds offered by 401(k) plans
    • Elton, E., M. Gruber, and C. Blake. 2007. Participant reaction and the performance of funds offered by 401(k) plans. Journal of Financial Intermediation 16: 249-271.
    • (2007) Journal of Financial Intermediation , vol.16 , pp. 249-271
    • Elton, E.1    Gruber, M.2    Blake, C.3
  • 13
    • 85015943485 scopus 로고    scopus 로고
    • Which individuals make active investment decisions in the new Swedish pension system?
    • Engström, S., and A. Westerberg. 2003. Which individuals make active investment decisions in the new Swedish pension system? Journal of Pension Economics and Finance 2: 1-21.
    • (2003) Journal of Pension Economics and Finance , vol.2 , pp. 1-21
    • Engström, S.1    Westerberg, A.2
  • 14
    • 0000815950 scopus 로고
    • International diversification and international equity markets
    • French, K., and J. Poterba.1991. International diversification and international equity markets. American Economic Review 81: 222-226.
    • (1991) American Economic Review , vol.81 , pp. 222-226
    • French, K.1    Poterba, J.2
  • 15
    • 65649120648 scopus 로고    scopus 로고
    • Investor competence, trading frequency, and home bias
    • (forthcoming)
    • Graham, J., C. Harvey, and H. Huang. 2009. Investor competence, trading frequency, and home bias. Management Science (forthcoming).
    • (2009) Management Science
    • Graham, J.1    Harvey, C.2    Huang, H.3
  • 16
    • 0039699515 scopus 로고    scopus 로고
    • Distance, language, and cultural bias: The role of investor sophistication
    • Grinblatt, M., and M. Keloharju. 2001. Distance, language, and cultural bias: The role of investor sophistication. Journal of Finance 46: 1053-1073.
    • (2001) Journal of Finance , vol.46 , pp. 1053-1073
    • Grinblatt, M.1    Keloharju, M.2
  • 17
    • 0001264756 scopus 로고
    • Mutual fund performance: An analysis of quarterly portfolio holdings
    • Grinblatt, M., and S. Titman. 1989. Mutual fund performance: An analysis of quarterly portfolio holdings. Journal of Business 62: 393-416.
    • (1989) Journal of Business , vol.62 , pp. 393-416
    • Grinblatt, M.1    Titman, S.2
  • 18
    • 0000125534 scopus 로고
    • Sample selection bias as a specification error
    • Heckman, J. 1979. Sample selection bias as a specification error. Econometrica 47: 153-161.
    • (1979) Econometrica , vol.47 , pp. 153-161
    • Heckman, J.1
  • 19
    • 0035595262 scopus 로고    scopus 로고
    • Familiarity breeds investment
    • Huberman, G. 2001. Familiarity breeds investment. Review of Financial Studies 14: 659-680.
    • (2001) Review of Financial Studies , vol.14 , pp. 659-680
    • Huberman, G.1
  • 20
    • 0000486548 scopus 로고
    • The performance of mutual funds in the period 1945-1964
    • Jensen, M. 1968. The performance of mutual funds in the period 1945-1964. Journal of Finance 23: 389-416.
    • (1968) Journal of Finance , vol.23 , pp. 389-416
    • Jensen, M.1
  • 21
    • 0031256734 scopus 로고    scopus 로고
    • Why is there a home bias? An analysis of foreign portfolio equity ownership in Japan
    • Kang, J., and R. Stulz. 1997. Why is there a home bias? An analysis of foreign portfolio equity ownership in Japan. Journal of Financial Economics 46: 3-28.
    • (1997) Journal of Financial Economics , vol.46 , pp. 3-28
    • Kang, J.1    Stulz, R.2
  • 23
    • 33846642132 scopus 로고    scopus 로고
    • Home sweet home: Home bias and international diversification among individual investors
    • Karlsson, A., and L. Nordén. 2007. Home sweet home: Home bias and international diversification among individual investors. Journal of Banking and Finance 31: 317-333.
    • (2007) Journal of Banking and Finance , vol.31 , pp. 317-333
    • Karlsson, A.1    Nordén, L.2
  • 24
    • 0012613428 scopus 로고    scopus 로고
    • Are financial assets priced locally or globally?
    • ed. G. Constantinides, M. Harris, and R. Stulz. Amsterdam: Elsevier
    • Karolyi, A., and R. Stulz. 2002.Are financial assets priced locally or globally? In Handbook of the Economics of Finance, ed. G. Constantinides, M. Harris, and R. Stulz. Amsterdam: Elsevier.
    • (2002) Handbook of The Economics of Finance
    • Karolyi, A.1    Stulz, R.2
  • 26
    • 0001582485 scopus 로고    scopus 로고
    • Trying to explain home bias in equities and consumption
    • Lewis, K. 1999. Trying to explain home bias in equities and consumption. Journal of Economic Literature 37: 571-608.
    • (1999) Journal of Economic Literature , vol.37 , pp. 571-608
    • Lewis, K.1
  • 27
    • 0001242340 scopus 로고    scopus 로고
    • Do investors trade too much?
    • Odean, T. 1999. Do investors trade too much? American Economic Review 89: 1279-1298.
    • (1999) American Economic Review , vol.89 , pp. 1279-1298
    • Odean, T.1
  • 28
    • 0001752951 scopus 로고
    • Mutual fund performance
    • Sharpe, W. 1966. Mutual fund performance. Journal of Business 39: 119-138.
    • (1966) Journal of Business , vol.39 , pp. 119-138
    • Sharpe, W.1
  • 29
    • 33646260938 scopus 로고    scopus 로고
    • The Swedish experience with pension reform
    • Sundén, A. 2006. The Swedish experience with pension reform. Oxford Review of Economic Policy 22: 133-148.
    • (2006) Oxford Review of Economic Policy , vol.22 , pp. 133-148
    • Sundén, A.1
  • 31
    • 0000095552 scopus 로고
    • A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity
    • White, H. 1980. A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity. Econometrica 48: 817-838.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.