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2015 Conference

du 15 au 16 October 2015

Orlando, FL

Welcome to the AFS Conference 2015 Schedule App. Please use the search features to see when your session or poster has been scheduled to take place. 

Are Investors Really Home-Biased when Investing at Home?

vendredi 16 octobre 2015 à 09:00–10:30 EDT
1-Council
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International Diversification, Index, Home Bias

Very short description for use in the program to help attendees understand more than a title can describe

We call into question whether investing in domestic stock indices leads to investors’ home bias. Therefore, we analyze percentages of foreign sales, employees in foreign countries, and foreign tax payments for German, French, UK and US stock index constituents. We find that these firms exhibit considerable degrees of firm-level internationalization. We conclude that investors who choose to invest in domestic stock indices are considerably influenced by international economic affairs like foreign sales market, labor market, and tax conditions. This means that investing in domestic stock indices more likely prevents from home bias instead of entrapping investors to insufficient portfolios.

Lead & Corresponding Author

Andreas Oehler, Chair of Finance, Bamberg University
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Additional Authors

Stefan Wendt, Department of Finance, Bamberg University
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Matthias Horn, Department of Finance, Bamberg University
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Chargement en cours …