Patriotism in your portfolio

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Patriotism in Your Portfolio

More patriotic countries have greater home bias in their equity selection. In a panel of World Values Surveys covering 53 countries, measures of patriotism are positively related to home bias measures after controlling for transaction barriers, diversification benefits, information and familiarity. Within-country changes in patriotism vary with changes in the home bias. The results are robust t...

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ژورنال

عنوان ژورنال: Journal of Financial Markets

سال: 2011

ISSN: 1386-4181

DOI: 10.1016/j.finmar.2010.10.006