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| Author: | Grinblatt, M. Keloharju, M. |
| Title: | How distance, language, and culture influence stockholdings and trades |
| Journal: | Journal of Finance
2001 : JUN, VOL. 56:3, p. 1053-1073 |
| Index terms: | Stock markets Consumer choice Investor relations Individual behaviour Shareholders Culture Regression analysis Finland |
| Freeterms: | Preferences |
| Language: | eng |
| Abstract: | The paper documents that investors are more likely to hold, buy, and sell the stocks of Finnish firms that are located close to the investor, that communicate in the investor's native tongue, and that have chief executives of the same cultural background. The influence of distance, language, and culture is less prominent among the most investment-savvy institutions than among both households and less savvy institutions. Regression analysis indicates that the marginal effect of 100 kilometers, and for investors with more diversified portfolios. |
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