American Economic Review Vol. 98 No. 2 2008

Home Bias at the Fund Level

Harald Hau¹; Hélène Rey²

¹ INSEAD, Boulevard de Constance, 77 305 Fontainebleau Cedex, France. · ² London Business School, Department of Economics, Regent's Park, London NW1 4SA, UK.

Abstract

This paper presents new stylized facts on the distribution of the home bias at the fund level. We find (i) a large heterogeneity in the degree of home bias across mutual funds; (ii) a positive correlation between the size of funds and home bias; and (iii) a positive correlation between the size of funds, the number of foreign countries and the number of sectors in which they invest. These facts constitute a challenge for existing theories.

DOI

10.1257/aer.98.2.333

Volume

98

Issue

2

Pages

333-338

Language

en

Sources

bibtex:phds-export.bib openalex crossref

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