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| Tekijä: | Antoniou, A. Olasupo, O. Paudyal, K. |
| Otsikko: | Equity home-bias: a suboptimal choice for UK investors? |
| Lehti: | European Financial Management
2010 : JUN, VOL. 16:3, p. 449-479 |
| Asiasana: | bias stock markets portfolio management diversification stochastic dominance markets integration United Kingdom |
| Vapaa asiasana: | home bias home-made diversification suboptimal choice investors international portfolio diversification theory assets |
| Kieli: | eng |
| Tiivistelmä: | This paper examines whether British investors need to diversify their portfolios internationally to gain performance benefits from international markets or can they obtain these benefits by mimicking the portfolios with domestically traded assets. The results confirm that it is possible to mimic the performance of foreign equity with domestic equity. In fact,the pay-offs from homemade portfolios outperform those from international portfolios regardless of the periodic variation in the overall performance of the UK market vis-à-vis foreign markets. |
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