The DOI matches its Crossref record; 49 of the 49 references it cites were found in a registry or an index.
The People in Your Neighborhood: Social Interactions and Mutual Fund Portfolios
Open accessAbstract
We find that socially connected fund managers have more similar holdings and trades. The overlap of funds whose managers reside in the same neighborhood is considerably higher than that of funds whose managers live in the same city but in different neighborhoods. These effects are larger when managers share a similar ethnic background, and are not explained by preferences. Valuable information is transmitted through these peer networks: a long‐short strategy composed of stocks purchased minus sold by neighboring managers delivers positive risk‐adjusted returns. Unlike prior empirical work, our tests disentangle the effects of social interactions from community effects.
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Cites
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Home Bias at Home: Local Equity Preference in Domestic Portfolios
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Cited by
Trade credit provision and national culture
El Ghoul, S., & Zheng, X. (2016) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2016.07.002 · Cited by 268
Institutional investor cliques and governance
Crane, A. D., Koch, A., & Michenaud, S. (2019) · Journal of Financial Economics · doi:10.1016/j.jfineco.2018.11.012 · Cited by 214
Metadata
- Authors
- POOL, V. K., STOFFMAN, N., & YONKER, S. E.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2015-11-12
- Volume
- 70
- Issue
- 6
- Pages
- 2679-2732
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2526910328
- Cited by
- 477
- References
- 49
- FWCI
- 43.55
- Type
- journal article
- Language
- en
- Open access
- green
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