【摘要】 不管是在国际股票市场上还是在一国国内股票市场上,投资者都呈现出对本土股票的偏好,由此所形成的地理上欠分散化的投资组合既可能是资本管制、风险规避、信息不对称和交易成本等制度因素所引致的,也可能是熟悉、临近性、相对乐观以及语言和文化等行为所造成,或者是这些因素综合作用的结果。更多还原

【Abstract】 Investors prefer to invest home stock and show the under-diversification portfolio in geography not only in international stock market but also in domestic stock market.It is either caused by institutional factors such as capital controll,risk hedging,information asymmetry and trade costs,etc,or may caused by the behavioral factors such as familiarity,language and culture,proximateness,relative optimism.更多还原