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Proximity Bias in Investors' Portfolio Choice
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About This Book
This book helps readers understand the widely documented distortion in the portfolio choice of individual investors toward proximate firms – the proximity bias phenomenon. First, it recapitulates the fundamentals of modern portfolio theory. It then goes on to describe and demonstrate different approaches on how to measure proximity bias and identifies and examines potential motives and reasons for such a bias. In addition, the book presents new analysis on the financial effects of individual investors' proximity bias, explaining and contributing with possible policy implications on their portfolio distortion. This book will be of interest to students and researchers, as well as decision-makers in business firms and households.
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Yes, you can access Proximity Bias in Investors' Portfolio Choice by Ted Lindblom,Taylan Mavruk,Stefan Sjögren in PDF and/or ePUB format, as well as other popular books in Business & Financial Services. We have over one million books available in our catalogue for you to explore.
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Table of contents
- Contents
- List of Figures
- List of Tables
- 1 Introduction
- Porfolio Theory, Decision-Making and Market Efficiency
- 2 Investors’ Portfolio Choice and Portfolio Theory
- 3 Decision-Making—Rational, Bounded, or Behavioral
- 4 Market Efficiency and the Standard Asset Pricing Models Used to Test Market Efficiency
- Investor Behavior, Proximity Bias and Firms’ Capital Structure
- 5 The Financial Behavior of Individual Investors
- 6 The Measurement of Proximity Bias
- 7 Motives and Reasons for Proximity Bias
- 8 Local Bias and Capital Structure
- The Impact of Local Media, Portfolio Rebalancing and Financial Sophistication
- 9 Local News and Active Trading
- 10 Portfolio Rebalancing by Individual Investors
- 11 The Relation Between Local Bias, Home Bias, and Financial Sophistication
- 12 Conclusions and Implications
- Index