Equity Home Bias in International Finance: A Place-Attachment Perspective
by Kavous Ardalan  (Author)

About the Author
Kavous Ardalan is a Professor of Finance at Marist College, Poughkeepsie, New York, U.S.A. He holds PhDs in both economics and finance. His research interests are in the theoretical, practical, educational, social, and philosophical aspects of economics and finance.

About this book
This book provides a comprehensive and critical analysis of research outcomes on the equity home bias puzzle – that people overinvest in domestic stocks relative to the theoretically optimal investment portfolio. It introduces place attachment – the bonding that occurs between individuals and their meaningful environments – as a new explanation for equity home bias, and presents a philosophically multi-paradigmatic view of place attachment.
For the first time, a comprehensive and up-to-date review of the extant literature is provided, demonstrating that place attachment is a contributing factor to 22 different topics in which variations of home bias are present. The author also analyses the social-psychological underpinnings of place attachment, and considers the effect of multi-culturalism on the future of equity home bias.
The book’s unique approach discusses the issues in conceptual terms rather than through data and statistical methods. This multi- and inter-disciplinary book is an invaluable resource for graduate students and researchers interested in economics, finance, philosophy, and/or methodology, introducing them to a new line of research.

Brief Contents
1 The equity home bias puzzle 1
2 Place attachment 82
3 The equity home bias puzzle: a place-attachment explanation 122
4 A look into the future 198
Index 220

Series: Banking, Money and International Finance (Book 12)
Pages: 242 pages
Publisher: Routledge; 1 edition (May 24, 2019)
Language: English
ISBN-10: 0367230674
ISBN-13: 978-0367230678