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Cited by 2,002

The DOI matches its Crossref record; 4 of the 4 references it cites were found in a registry or an index.

The Geography of Investment: Informed Trading and Asset Prices

Open access
Coval, Joshua D., Moskowitz, Tobias J.·2001·Journal of Political Economy
DOI 10.1086/322088
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Abstract

Applying a geographic lens to mutual fund performance, this study finds that fund managers earn substantial abnormal returns in nearby investments. These returns are particularly strong among funds that are small and old, focus on few holdings, and operate out of remote areas. Furthermore, we find that while the average fund exhibits only a modest bias toward local stocks, certain funds strongly bias their holdings locally and exhibit even greater local performance. Finally, we demonstrate that the extent to which a firm is held by nearby investors is positively related to its future expected return. Our results suggest that investors trade local securities at an informational advantage and point toward a link between such trading and asset prices.

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Metadata

Authors
Coval, J. D., & Moskowitz, T. J.
Venue
Journal of Political Economy
Publisher
University of Chicago Press
Published
2001-08
Volume
109
Issue
4
Pages
811-841
ISSN
  • 0022-3808 (ISSN-L)
  • 1537-534X
DOI
10.1086/322088
OpenAlex
W1496551994
Cited by
2,002
References
4
FWCI
41.34
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: The Geography of Investment: Informed Trading and Asset Prices. https://app.cochat.ai/papers/10.1086/322088
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Coval, J. D., & Moskowitz, T. J. (2001). The Geography of Investment: Informed Trading and Asset Prices. Journal of Political Economy. https://doi.org/10.1086/322088

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.