Home Bias at the Fund Level

Harald Hau and Helene Rey

No 14172, NBER Working Papers from National Bureau of Economic Research, Inc

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.

JEL-codes: F21 G15 (search for similar items in EconPapers)
Date: 2008-07
Note: AP IFM
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Citations: View citations in EconPapers (67)

Published as Harald Hau & Helene Rey, 2008. "Home Bias at the Fund Level," American Economic Review, American Economic Association, vol. 98(2), pages 333-38, May.

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Journal Article: Home Bias at the Fund Level (2008)
Working Paper: Home Bias at the Fund Level (2008)
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