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| Author: | Ackert, L.F. (et al.) |
| Title: | What's in a name? An experimental examination of investment behavior |
| Journal: | Review of finance
2005 : VOL 9:2, p. 281-304 |
| Index terms: | Stock markets Portfolio investment Decision making Asymmetric information Industries Companies Canada USA |
| Language: | eng |
| Abstract: | It is a fundamental unresolved issue whether information (hereafter as: info.) asymmetries underlie investors (here as: invs.) predisposition to invest close to home. This study conducts experiments in the United States (U.S.) and Canada to investigate agents portfolio allocation decisions, controlling for the availability of info. Providing participants (here as: parts.) with info. about a firms home base, without disclosing its specific identity, is not sufficient to change investment behaviour. Rather, parts. need to know a firms name and home base. Additional evidence indicates that parts. have a greater perceived familiarity with local and domestic securities and, in turn, invest more in such securities. |
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