id sid tid token lemma pos cord-035342-sf0zld5z 1 1 key key JJ cord-035342-sf0zld5z 1 2 : : : cord-035342-sf0zld5z 1 3 cord-035342-sf0zld5z cord-035342-sf0zld5z VBN cord-035342-sf0zld5z 1 4 authors author NNS cord-035342-sf0zld5z 1 5 : : : cord-035342-sf0zld5z 1 6 Gaar Gaar NNP cord-035342-sf0zld5z 1 7 , , , cord-035342-sf0zld5z 1 8 Eduard Eduard NNP cord-035342-sf0zld5z 1 9 ; ; : cord-035342-sf0zld5z 1 10 Scherer Scherer NNP cord-035342-sf0zld5z 1 11 , , , cord-035342-sf0zld5z 1 12 David David NNP cord-035342-sf0zld5z 1 13 ; ; : cord-035342-sf0zld5z 1 14 Schiereck Schiereck NNP cord-035342-sf0zld5z 1 15 , , , cord-035342-sf0zld5z 1 16 Dirk Dirk NNP cord-035342-sf0zld5z 1 17 title title NN cord-035342-sf0zld5z 1 18 : : : cord-035342-sf0zld5z 1 19 The the DT cord-035342-sf0zld5z 1 20 home home NN cord-035342-sf0zld5z 1 21 bias bias NN cord-035342-sf0zld5z 1 22 and and CC cord-035342-sf0zld5z 1 23 the the DT cord-035342-sf0zld5z 1 24 local local JJ cord-035342-sf0zld5z 1 25 bias bias NN cord-035342-sf0zld5z 1 26 : : : cord-035342-sf0zld5z 1 27 A a DT cord-035342-sf0zld5z 1 28 survey survey NN cord-035342-sf0zld5z 1 29 date date NN cord-035342-sf0zld5z 1 30 : : : cord-035342-sf0zld5z 1 31 2020 2020 CD cord-035342-sf0zld5z 1 32 - - HYPH cord-035342-sf0zld5z 1 33 11 11 CD cord-035342-sf0zld5z 1 34 - - SYM cord-035342-sf0zld5z 1 35 12 12 CD cord-035342-sf0zld5z 1 36 journal journal NN cord-035342-sf0zld5z 1 37 : : : cord-035342-sf0zld5z 2 1 Manag Manag NNP cord-035342-sf0zld5z 2 2 Rev Rev NNP cord-035342-sf0zld5z 2 3 Q Q NNP cord-035342-sf0zld5z 2 4 DOI doi NN cord-035342-sf0zld5z 2 5 : : : cord-035342-sf0zld5z 3 1 10.1007 10.1007 CD cord-035342-sf0zld5z 3 2 / / SYM cord-035342-sf0zld5z 3 3 s11301 s11301 NN cord-035342-sf0zld5z 3 4 - - HYPH cord-035342-sf0zld5z 3 5 020 020 CD cord-035342-sf0zld5z 3 6 - - HYPH cord-035342-sf0zld5z 3 7 00203 00203 CD cord-035342-sf0zld5z 3 8 - - SYM cord-035342-sf0zld5z 3 9 8 8 CD cord-035342-sf0zld5z 3 10 sha sha NN cord-035342-sf0zld5z 3 11 : : : cord-035342-sf0zld5z 3 12 eec7e82a24d644a33d7d4e9841d0e903caf71419 eec7e82a24d644a33d7d4e9841d0e903caf71419 NNP cord-035342-sf0zld5z 3 13 doc_id doc_id CD cord-035342-sf0zld5z 3 14 : : : cord-035342-sf0zld5z 3 15 35342 35342 CD cord-035342-sf0zld5z 3 16 cord_uid cord_uid NNS cord-035342-sf0zld5z 3 17 : : : cord-035342-sf0zld5z 3 18 sf0zld5z sf0zld5z JJ cord-035342-sf0zld5z 4 1 The the DT cord-035342-sf0zld5z 4 2 home home NN cord-035342-sf0zld5z 4 3 bias bias NN cord-035342-sf0zld5z 4 4 like like IN cord-035342-sf0zld5z 4 5 the the DT cord-035342-sf0zld5z 4 6 disposition disposition NN cord-035342-sf0zld5z 4 7 effect effect NN cord-035342-sf0zld5z 4 8 is be VBZ cord-035342-sf0zld5z 4 9 a a DT cord-035342-sf0zld5z 4 10 well well RB cord-035342-sf0zld5z 4 11 - - HYPH cord-035342-sf0zld5z 4 12 researched research VBN cord-035342-sf0zld5z 4 13 economic economic JJ cord-035342-sf0zld5z 4 14 phenomenon phenomenon NN cord-035342-sf0zld5z 4 15 in in IN cord-035342-sf0zld5z 4 16 investor investor NN cord-035342-sf0zld5z 4 17 behaviour behaviour NN cord-035342-sf0zld5z 4 18 which which WDT cord-035342-sf0zld5z 4 19 has have VBZ cord-035342-sf0zld5z 4 20 been be VBN cord-035342-sf0zld5z 4 21 examined examine VBN cord-035342-sf0zld5z 4 22 in in IN cord-035342-sf0zld5z 4 23 finance finance NN cord-035342-sf0zld5z 4 24 journal journal NN cord-035342-sf0zld5z 4 25 articles article NNS cord-035342-sf0zld5z 4 26 for for IN cord-035342-sf0zld5z 4 27 decades decade NNS cord-035342-sf0zld5z 4 28 . . . cord-035342-sf0zld5z 5 1 While while IN cord-035342-sf0zld5z 5 2 there there EX cord-035342-sf0zld5z 5 3 is be VBZ cord-035342-sf0zld5z 5 4 little little JJ cord-035342-sf0zld5z 5 5 doubt doubt NN cord-035342-sf0zld5z 5 6 about about IN cord-035342-sf0zld5z 5 7 the the DT cord-035342-sf0zld5z 5 8 existence existence NN cord-035342-sf0zld5z 5 9 of of IN cord-035342-sf0zld5z 5 10 the the DT cord-035342-sf0zld5z 5 11 bias bias NN cord-035342-sf0zld5z 5 12 , , , cord-035342-sf0zld5z 5 13 its -PRON- PRP$ cord-035342-sf0zld5z 5 14 magnitude magnitude NN cord-035342-sf0zld5z 5 15 varies vary VBZ cord-035342-sf0zld5z 5 16 across across IN cord-035342-sf0zld5z 5 17 countries country NNS cord-035342-sf0zld5z 5 18 and and CC cord-035342-sf0zld5z 5 19 investor investor NN cord-035342-sf0zld5z 5 20 groups group NNS cord-035342-sf0zld5z 5 21 . . . cord-035342-sf0zld5z 6 1 The the DT cord-035342-sf0zld5z 6 2 home home NN cord-035342-sf0zld5z 6 3 bias bias NN cord-035342-sf0zld5z 6 4 has have VBZ cord-035342-sf0zld5z 6 5 to to TO cord-035342-sf0zld5z 6 6 be be VB cord-035342-sf0zld5z 6 7 regarded regard VBN cord-035342-sf0zld5z 6 8 as as IN cord-035342-sf0zld5z 6 9 a a DT cord-035342-sf0zld5z 6 10 multifactorial multifactorial JJ cord-035342-sf0zld5z 6 11 phenomenon phenomenon NN cord-035342-sf0zld5z 6 12 , , , cord-035342-sf0zld5z 6 13 a a DT cord-035342-sf0zld5z 6 14 combination combination NN cord-035342-sf0zld5z 6 15 of of IN cord-035342-sf0zld5z 6 16 numerous numerous JJ cord-035342-sf0zld5z 6 17 causes cause NNS cord-035342-sf0zld5z 6 18 which which WDT cord-035342-sf0zld5z 6 19 all all DT cord-035342-sf0zld5z 6 20 synergistically synergistically RB cord-035342-sf0zld5z 6 21 contribute contribute VBP cord-035342-sf0zld5z 6 22 . . . cord-035342-sf0zld5z 7 1 In in IN cord-035342-sf0zld5z 7 2 contrast contrast NN cord-035342-sf0zld5z 7 3 to to IN cord-035342-sf0zld5z 7 4 other other JJ cord-035342-sf0zld5z 7 5 biases bias NNS cord-035342-sf0zld5z 7 6 the the DT cord-035342-sf0zld5z 7 7 home home NN cord-035342-sf0zld5z 7 8 bias bias NN cord-035342-sf0zld5z 7 9 can can MD cord-035342-sf0zld5z 7 10 at at IN cord-035342-sf0zld5z 7 11 least least RBS cord-035342-sf0zld5z 7 12 partially partially RB cord-035342-sf0zld5z 7 13 be be VB cord-035342-sf0zld5z 7 14 explained explain VBN cord-035342-sf0zld5z 7 15 by by IN cord-035342-sf0zld5z 7 16 reasons reason NNS cord-035342-sf0zld5z 7 17 beyond beyond IN cord-035342-sf0zld5z 7 18 irrational irrational JJ cord-035342-sf0zld5z 7 19 investor investor NN cord-035342-sf0zld5z 7 20 behaviour behaviour NN cord-035342-sf0zld5z 7 21 . . . cord-035342-sf0zld5z 8 1 While while IN cord-035342-sf0zld5z 8 2 institutional institutional JJ cord-035342-sf0zld5z 8 3 restrictions restriction NNS cord-035342-sf0zld5z 8 4 play play VBP cord-035342-sf0zld5z 8 5 a a DT cord-035342-sf0zld5z 8 6 minor minor JJ cord-035342-sf0zld5z 8 7 role role NN cord-035342-sf0zld5z 8 8 , , , cord-035342-sf0zld5z 8 9 informational informational JJ cord-035342-sf0zld5z 8 10 asymmetries asymmetry NNS cord-035342-sf0zld5z 8 11 and and CC cord-035342-sf0zld5z 8 12 superior superior JJ cord-035342-sf0zld5z 8 13 information information NN cord-035342-sf0zld5z 8 14 of of IN cord-035342-sf0zld5z 8 15 domestic domestic JJ cord-035342-sf0zld5z 8 16 investors investor NNS cord-035342-sf0zld5z 8 17 are be VBP cord-035342-sf0zld5z 8 18 important important JJ cord-035342-sf0zld5z 8 19 factors factor NNS cord-035342-sf0zld5z 8 20 . . . cord-035342-sf0zld5z 9 1 Thus thus RB cord-035342-sf0zld5z 9 2 , , , cord-035342-sf0zld5z 9 3 the the DT cord-035342-sf0zld5z 9 4 performance performance NN cord-035342-sf0zld5z 9 5 of of IN cord-035342-sf0zld5z 9 6 investments investment NNS cord-035342-sf0zld5z 9 7 may may MD cord-035342-sf0zld5z 9 8 well well RB cord-035342-sf0zld5z 9 9 benefit benefit VB cord-035342-sf0zld5z 9 10 from from IN cord-035342-sf0zld5z 9 11 a a DT cord-035342-sf0zld5z 9 12 home home NN cord-035342-sf0zld5z 9 13 bias bias NN cord-035342-sf0zld5z 9 14 , , , cord-035342-sf0zld5z 9 15 and and CC cord-035342-sf0zld5z 9 16 the the DT cord-035342-sf0zld5z 9 17 bias bias NN cord-035342-sf0zld5z 9 18 then then RB cord-035342-sf0zld5z 9 19 no no RB cord-035342-sf0zld5z 9 20 longer long RBR cord-035342-sf0zld5z 9 21 would would MD cord-035342-sf0zld5z 9 22 be be VB cord-035342-sf0zld5z 9 23 a a DT cord-035342-sf0zld5z 9 24 puzzle puzzle NN cord-035342-sf0zld5z 9 25 but but CC cord-035342-sf0zld5z 9 26 rather rather RB cord-035342-sf0zld5z 9 27 rational rational JJ cord-035342-sf0zld5z 9 28 behaviour behaviour NN cord-035342-sf0zld5z 9 29 as as IN cord-035342-sf0zld5z 9 30 a a DT cord-035342-sf0zld5z 9 31 lower low JJR cord-035342-sf0zld5z 9 32 diversification diversification NN cord-035342-sf0zld5z 9 33 level level NN cord-035342-sf0zld5z 9 34 may may MD cord-035342-sf0zld5z 9 35 lead lead VB cord-035342-sf0zld5z 9 36 to to IN cord-035342-sf0zld5z 9 37 higher high JJR cord-035342-sf0zld5z 9 38 returns return NNS cord-035342-sf0zld5z 9 39 . . . cord-035342-sf0zld5z 10 1 The the DT cord-035342-sf0zld5z 10 2 contemporary contemporary JJ cord-035342-sf0zld5z 10 3 understanding understanding NN cord-035342-sf0zld5z 10 4 of of IN cord-035342-sf0zld5z 10 5 the the DT cord-035342-sf0zld5z 10 6 home home NN cord-035342-sf0zld5z 10 7 bias bias NN cord-035342-sf0zld5z 10 8 gains gain VBZ cord-035342-sf0zld5z 10 9 in in IN cord-035342-sf0zld5z 10 10 relevance relevance NN cord-035342-sf0zld5z 10 11 as as IN cord-035342-sf0zld5z 10 12 the the DT cord-035342-sf0zld5z 10 13 ongoing ongoing JJ cord-035342-sf0zld5z 10 14 political political JJ cord-035342-sf0zld5z 10 15 debate debate NN cord-035342-sf0zld5z 10 16 in in IN cord-035342-sf0zld5z 10 17 Germany Germany NNP cord-035342-sf0zld5z 10 18 has have VBZ cord-035342-sf0zld5z 10 19 to to TO cord-035342-sf0zld5z 10 20 clarify clarify VB cord-035342-sf0zld5z 10 21 an an DT cord-035342-sf0zld5z 10 22 institutional institutional JJ cord-035342-sf0zld5z 10 23 framework framework NN cord-035342-sf0zld5z 10 24 for for IN cord-035342-sf0zld5z 10 25 long long RB cord-035342-sf0zld5z 10 26 - - HYPH cord-035342-sf0zld5z 10 27 run run NN cord-035342-sf0zld5z 10 28 retirement retirement NN cord-035342-sf0zld5z 10 29 savings saving NNS cord-035342-sf0zld5z 10 30 plans plan NNS cord-035342-sf0zld5z 10 31 of of IN cord-035342-sf0zld5z 10 32 private private JJ cord-035342-sf0zld5z 10 33 households household NNS cord-035342-sf0zld5z 10 34 based base VBN cord-035342-sf0zld5z 10 35 on on IN cord-035342-sf0zld5z 10 36 equity equity NN cord-035342-sf0zld5z 10 37 investments investment NNS cord-035342-sf0zld5z 10 38 . . . cord-035342-sf0zld5z 11 1 In in IN cord-035342-sf0zld5z 11 2 a a DT cord-035342-sf0zld5z 11 3 frictionless frictionless JJ cord-035342-sf0zld5z 11 4 perfect perfect JJ cord-035342-sf0zld5z 11 5 global global JJ cord-035342-sf0zld5z 11 6 capital capital NN cord-035342-sf0zld5z 11 7 market market NN cord-035342-sf0zld5z 11 8 , , , cord-035342-sf0zld5z 11 9 investors investor NNS cord-035342-sf0zld5z 11 10 should should MD cord-035342-sf0zld5z 11 11 invest invest VB cord-035342-sf0zld5z 11 12 the the DT cord-035342-sf0zld5z 11 13 risky risky JJ cord-035342-sf0zld5z 11 14 part part NN cord-035342-sf0zld5z 11 15 of of IN cord-035342-sf0zld5z 11 16 their -PRON- PRP$ cord-035342-sf0zld5z 11 17 savings saving NNS cord-035342-sf0zld5z 11 18 completely completely RB cord-035342-sf0zld5z 11 19 in in IN cord-035342-sf0zld5z 11 20 the the DT cord-035342-sf0zld5z 11 21 market market NN cord-035342-sf0zld5z 11 22 portfolio portfolio NN cord-035342-sf0zld5z 11 23 to to TO cord-035342-sf0zld5z 11 24 optimize optimize VB cord-035342-sf0zld5z 11 25 their -PRON- PRP$ cord-035342-sf0zld5z 11 26 risk risk NN cord-035342-sf0zld5z 11 27 - - HYPH cord-035342-sf0zld5z 11 28 return return NN cord-035342-sf0zld5z 11 29 patterns pattern NNS cord-035342-sf0zld5z 11 30 and and CC cord-035342-sf0zld5z 11 31 to to TO cord-035342-sf0zld5z 11 32 comply comply VB cord-035342-sf0zld5z 11 33 with with IN cord-035342-sf0zld5z 11 34 classical classical JJ cord-035342-sf0zld5z 11 35 approaches approach NNS cord-035342-sf0zld5z 11 36 as as IN cord-035342-sf0zld5z 11 37 the the DT cord-035342-sf0zld5z 11 38 CAPM CAPM NNP cord-035342-sf0zld5z 11 39 ( ( -LRB- cord-035342-sf0zld5z 11 40 Sharpe Sharpe NNP cord-035342-sf0zld5z 11 41 1964 1964 CD cord-035342-sf0zld5z 11 42 ) ) -RRB- cord-035342-sf0zld5z 11 43 . . . cord-035342-sf0zld5z 12 1 However however RB cord-035342-sf0zld5z 12 2 , , , cord-035342-sf0zld5z 12 3 empirical empirical JJ cord-035342-sf0zld5z 12 4 research research NN cord-035342-sf0zld5z 12 5 provides provide VBZ cord-035342-sf0zld5z 12 6 evidence evidence NN cord-035342-sf0zld5z 12 7 for for IN cord-035342-sf0zld5z 12 8 decades decade NNS cord-035342-sf0zld5z 12 9 that that IN cord-035342-sf0zld5z 12 10 in in IN cord-035342-sf0zld5z 12 11 real real JJ cord-035342-sf0zld5z 12 12 markets market NNS cord-035342-sf0zld5z 12 13 investors investor NNS cord-035342-sf0zld5z 12 14 deviate deviate VBP cord-035342-sf0zld5z 12 15 from from IN cord-035342-sf0zld5z 12 16 this this DT cord-035342-sf0zld5z 12 17 portfolio portfolio NN cord-035342-sf0zld5z 12 18 structure structure NN cord-035342-sf0zld5z 12 19 which which WDT cord-035342-sf0zld5z 12 20 is be VBZ cord-035342-sf0zld5z 12 21 optimal optimal JJ cord-035342-sf0zld5z 12 22 in in IN cord-035342-sf0zld5z 12 23 perfect perfect JJ cord-035342-sf0zld5z 12 24 markets market NNS cord-035342-sf0zld5z 12 25 . . . cord-035342-sf0zld5z 13 1 The the DT cord-035342-sf0zld5z 13 2 home home NN cord-035342-sf0zld5z 13 3 bias bias NN cord-035342-sf0zld5z 13 4 belongs belong VBZ cord-035342-sf0zld5z 13 5 to to IN cord-035342-sf0zld5z 13 6 the the DT cord-035342-sf0zld5z 13 7 puzzles puzzle NNS cord-035342-sf0zld5z 13 8 in in IN cord-035342-sf0zld5z 13 9 economics economic NNS cord-035342-sf0zld5z 13 10 , , , cord-035342-sf0zld5z 13 11 proven prove VBN cord-035342-sf0zld5z 13 12 empirically empirically RB cord-035342-sf0zld5z 13 13 , , , cord-035342-sf0zld5z 13 14 that that WDT cord-035342-sf0zld5z 13 15 do do VBP cord-035342-sf0zld5z 13 16 not not RB cord-035342-sf0zld5z 13 17 fit fit VB cord-035342-sf0zld5z 13 18 into into IN cord-035342-sf0zld5z 13 19 ( ( -LRB- cord-035342-sf0zld5z 13 20 neoclassical neoclassical JJ cord-035342-sf0zld5z 13 21 ) ) -RRB- cord-035342-sf0zld5z 13 22 theory theory NN cord-035342-sf0zld5z 13 23 ( ( -LRB- cord-035342-sf0zld5z 13 24 Obstfeld Obstfeld NNP cord-035342-sf0zld5z 13 25 and and CC cord-035342-sf0zld5z 13 26 Rogoff Rogoff NNP cord-035342-sf0zld5z 13 27 2000 2000 CD cord-035342-sf0zld5z 13 28 ) ) -RRB- cord-035342-sf0zld5z 13 29 . . . cord-035342-sf0zld5z 14 1 Following follow VBG cord-035342-sf0zld5z 14 2 the the DT cord-035342-sf0zld5z 14 3 home home NN cord-035342-sf0zld5z 14 4 bias bias NN cord-035342-sf0zld5z 14 5 and and CC cord-035342-sf0zld5z 14 6 the the DT cord-035342-sf0zld5z 14 7 intra intra JJ cord-035342-sf0zld5z 14 8 - - JJ cord-035342-sf0zld5z 14 9 national national JJ cord-035342-sf0zld5z 14 10 local local JJ cord-035342-sf0zld5z 14 11 bias bias NN cord-035342-sf0zld5z 14 12 investors investor NNS cord-035342-sf0zld5z 14 13 are be VBP cord-035342-sf0zld5z 14 14 inclined incline VBN cord-035342-sf0zld5z 14 15 to to TO cord-035342-sf0zld5z 14 16 invest invest VB cord-035342-sf0zld5z 14 17 disproportionately disproportionately RB cord-035342-sf0zld5z 14 18 into into IN cord-035342-sf0zld5z 14 19 local local JJ cord-035342-sf0zld5z 14 20 and and CC cord-035342-sf0zld5z 14 21 domestic domestic JJ cord-035342-sf0zld5z 14 22 assets asset NNS cord-035342-sf0zld5z 14 23 , , , cord-035342-sf0zld5z 14 24 not not RB cord-035342-sf0zld5z 14 25 following follow VBG cord-035342-sf0zld5z 14 26 portfolio portfolio NN cord-035342-sf0zld5z 14 27 diversification diversification NN cord-035342-sf0zld5z 14 28 strategies strategy NNS cord-035342-sf0zld5z 14 29 . . . cord-035342-sf0zld5z 15 1 Based base VBN cord-035342-sf0zld5z 15 2 on on IN cord-035342-sf0zld5z 15 3 capital capital NN cord-035342-sf0zld5z 15 4 market market NN cord-035342-sf0zld5z 15 5 models model NNS cord-035342-sf0zld5z 15 6 , , , cord-035342-sf0zld5z 15 7 the the DT cord-035342-sf0zld5z 15 8 home home NN cord-035342-sf0zld5z 15 9 bias bias NN cord-035342-sf0zld5z 15 10 has have VBZ cord-035342-sf0zld5z 15 11 been be VBN cord-035342-sf0zld5z 15 12 elaborated elaborate VBN cord-035342-sf0zld5z 15 13 ( ( -LRB- cord-035342-sf0zld5z 15 14 Black black JJ cord-035342-sf0zld5z 15 15 1974 1974 CD cord-035342-sf0zld5z 15 16 ; ; : cord-035342-sf0zld5z 16 1 Michaelides Michaelides NNP cord-035342-sf0zld5z 16 2 2003 2003 CD cord-035342-sf0zld5z 16 3 ; ; : cord-035342-sf0zld5z 16 4 Stulz Stulz NNP cord-035342-sf0zld5z 16 5 1981a 1981a NNP cord-035342-sf0zld5z 16 6 Stulz Stulz NNP cord-035342-sf0zld5z 16 7 , , , cord-035342-sf0zld5z 16 8 1981b 1981b CD cord-035342-sf0zld5z 16 9 , , , cord-035342-sf0zld5z 16 10 and and CC cord-035342-sf0zld5z 16 11 empirical empirical JJ cord-035342-sf0zld5z 16 12 research research NN cord-035342-sf0zld5z 16 13 on on IN cord-035342-sf0zld5z 16 14 the the DT cord-035342-sf0zld5z 16 15 bias bias NN cord-035342-sf0zld5z 16 16 started start VBD cord-035342-sf0zld5z 16 17 with with IN cord-035342-sf0zld5z 16 18 French French NNP cord-035342-sf0zld5z 16 19 and and CC cord-035342-sf0zld5z 16 20 Poterba Poterba NNP cord-035342-sf0zld5z 16 21 ( ( -LRB- cord-035342-sf0zld5z 16 22 1991 1991 CD cord-035342-sf0zld5z 16 23 ) ) -RRB- cord-035342-sf0zld5z 16 24 studying study VBG cord-035342-sf0zld5z 16 25 U.S. U.S. NNP cord-035342-sf0zld5z 16 26 , , , cord-035342-sf0zld5z 16 27 UK UK NNP cord-035342-sf0zld5z 16 28 and and CC cord-035342-sf0zld5z 16 29 Japan Japan NNP cord-035342-sf0zld5z 16 30 . . . cord-035342-sf0zld5z 17 1 Cooper Cooper NNP cord-035342-sf0zld5z 17 2 and and CC cord-035342-sf0zld5z 17 3 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 17 4 ( ( -LRB- cord-035342-sf0zld5z 17 5 1994 1994 CD cord-035342-sf0zld5z 17 6 ) ) -RRB- cord-035342-sf0zld5z 17 7 and and CC cord-035342-sf0zld5z 17 8 Fidora Fidora NNP cord-035342-sf0zld5z 17 9 et et NNP cord-035342-sf0zld5z 17 10 al al NNP cord-035342-sf0zld5z 17 11 . . . cord-035342-sf0zld5z 18 1 ( ( -LRB- cord-035342-sf0zld5z 18 2 2007 2007 CD cord-035342-sf0zld5z 18 3 ) ) -RRB- cord-035342-sf0zld5z 18 4 among among IN cord-035342-sf0zld5z 18 5 others other NNS cord-035342-sf0zld5z 18 6 confirmed confirm VBD cord-035342-sf0zld5z 18 7 the the DT cord-035342-sf0zld5z 18 8 patterns pattern NNS cord-035342-sf0zld5z 18 9 of of IN cord-035342-sf0zld5z 18 10 the the DT cord-035342-sf0zld5z 18 11 home home NN cord-035342-sf0zld5z 18 12 bias bias NN cord-035342-sf0zld5z 18 13 for for IN cord-035342-sf0zld5z 18 14 these these DT cord-035342-sf0zld5z 18 15 three three CD cord-035342-sf0zld5z 18 16 countries country NNS cord-035342-sf0zld5z 18 17 . . . cord-035342-sf0zld5z 19 1 Additional additional JJ cord-035342-sf0zld5z 19 2 evidence evidence NN cord-035342-sf0zld5z 19 3 for for IN cord-035342-sf0zld5z 19 4 Germany Germany NNP cord-035342-sf0zld5z 19 5 , , , cord-035342-sf0zld5z 19 6 France France NNP cord-035342-sf0zld5z 19 7 , , , cord-035342-sf0zld5z 19 8 Italy Italy NNP cord-035342-sf0zld5z 19 9 and and CC cord-035342-sf0zld5z 19 10 Sweden Sweden NNP cord-035342-sf0zld5z 19 11 documents document VBZ cord-035342-sf0zld5z 19 12 the the DT cord-035342-sf0zld5z 19 13 global global JJ cord-035342-sf0zld5z 19 14 reach reach NN cord-035342-sf0zld5z 19 15 of of IN cord-035342-sf0zld5z 19 16 the the DT cord-035342-sf0zld5z 19 17 phenomenon phenomenon NN cord-035342-sf0zld5z 19 18 ( ( -LRB- cord-035342-sf0zld5z 19 19 Anderson Anderson NNP cord-035342-sf0zld5z 19 20 et et NNP cord-035342-sf0zld5z 19 21 al al NNP cord-035342-sf0zld5z 19 22 . . NNP cord-035342-sf0zld5z 19 23 2011 2011 CD cord-035342-sf0zld5z 19 24 ; ; : cord-035342-sf0zld5z 20 1 Chan Chan NNP cord-035342-sf0zld5z 20 2 et et NNP cord-035342-sf0zld5z 20 3 al al NNP cord-035342-sf0zld5z 20 4 . . . cord-035342-sf0zld5z 21 1 2005 2005 CD cord-035342-sf0zld5z 21 2 ; ; : cord-035342-sf0zld5z 21 3 Lau Lau NNP cord-035342-sf0zld5z 21 4 et et NNP cord-035342-sf0zld5z 21 5 al al NNP cord-035342-sf0zld5z 21 6 . . . cord-035342-sf0zld5z 22 1 2010 2010 CD cord-035342-sf0zld5z 22 2 ; ; : cord-035342-sf0zld5z 22 3 Mishra Mishra NNP cord-035342-sf0zld5z 22 4 2015 2015 CD cord-035342-sf0zld5z 22 5 ; ; : cord-035342-sf0zld5z 22 6 Lippi Lippi NNP cord-035342-sf0zld5z 22 7 2016 2016 CD cord-035342-sf0zld5z 22 8 ) ) -RRB- cord-035342-sf0zld5z 22 9 . . . cord-035342-sf0zld5z 23 1 The the DT cord-035342-sf0zld5z 23 2 local local JJ cord-035342-sf0zld5z 23 3 bias bias NN cord-035342-sf0zld5z 23 4 as as IN cord-035342-sf0zld5z 23 5 the the DT cord-035342-sf0zld5z 23 6 intranational intranational JJ cord-035342-sf0zld5z 23 7 equivalent equivalent NN cord-035342-sf0zld5z 23 8 has have VBZ cord-035342-sf0zld5z 23 9 been be VBN cord-035342-sf0zld5z 23 10 detected detect VBN cord-035342-sf0zld5z 23 11 for for IN cord-035342-sf0zld5z 23 12 intra intra JJ cord-035342-sf0zld5z 23 13 - - JJ cord-035342-sf0zld5z 23 14 U.S. U.S. NNP cord-035342-sf0zld5z 23 15 investments investment NNS cord-035342-sf0zld5z 23 16 ( ( -LRB- cord-035342-sf0zld5z 23 17 Hong Hong NNP cord-035342-sf0zld5z 23 18 et et NNP cord-035342-sf0zld5z 23 19 al al NNP cord-035342-sf0zld5z 23 20 . . NNP cord-035342-sf0zld5z 23 21 2005 2005 CD cord-035342-sf0zld5z 23 22 ; ; : cord-035342-sf0zld5z 23 23 Huberman Huberman NNP cord-035342-sf0zld5z 23 24 2001 2001 CD cord-035342-sf0zld5z 23 25 ) ) -RRB- cord-035342-sf0zld5z 23 26 , , , cord-035342-sf0zld5z 23 27 Finish Finish NNP cord-035342-sf0zld5z 23 28 investors investor NNS cord-035342-sf0zld5z 23 29 ( ( -LRB- cord-035342-sf0zld5z 23 30 Grinblatt Grinblatt NNP cord-035342-sf0zld5z 23 31 and and CC cord-035342-sf0zld5z 23 32 Keloharju Keloharju NNP cord-035342-sf0zld5z 23 33 2001 2001 CD cord-035342-sf0zld5z 23 34 ) ) -RRB- cord-035342-sf0zld5z 23 35 , , , cord-035342-sf0zld5z 23 36 Japanese japanese JJ cord-035342-sf0zld5z 23 37 investors investor NNS cord-035342-sf0zld5z 23 38 ( ( -LRB- cord-035342-sf0zld5z 23 39 Kang Kang NNP cord-035342-sf0zld5z 23 40 and and CC cord-035342-sf0zld5z 23 41 Stulz Stulz NNP cord-035342-sf0zld5z 23 42 1997 1997 CD cord-035342-sf0zld5z 23 43 ) ) -RRB- cord-035342-sf0zld5z 23 44 and and CC cord-035342-sf0zld5z 23 45 German german JJ cord-035342-sf0zld5z 23 46 individual individual JJ cord-035342-sf0zld5z 23 47 investors investor NNS cord-035342-sf0zld5z 23 48 ( ( -LRB- cord-035342-sf0zld5z 23 49 Baltzer Baltzer NNP cord-035342-sf0zld5z 23 50 et et NNP cord-035342-sf0zld5z 23 51 al al NNP cord-035342-sf0zld5z 23 52 . . NNP cord-035342-sf0zld5z 23 53 2013 2013 CD cord-035342-sf0zld5z 23 54 ) ) -RRB- cord-035342-sf0zld5z 23 55 . . . cord-035342-sf0zld5z 24 1 The the DT cord-035342-sf0zld5z 24 2 overwhelming overwhelming JJ cord-035342-sf0zld5z 24 3 majority majority NN cord-035342-sf0zld5z 24 4 of of IN cord-035342-sf0zld5z 24 5 research research NN cord-035342-sf0zld5z 24 6 examines examine VBZ cord-035342-sf0zld5z 24 7 home home NN cord-035342-sf0zld5z 24 8 and and CC cord-035342-sf0zld5z 24 9 local local JJ cord-035342-sf0zld5z 24 10 bias bias NN cord-035342-sf0zld5z 24 11 dealing deal VBG cord-035342-sf0zld5z 24 12 with with IN cord-035342-sf0zld5z 24 13 direct direct JJ cord-035342-sf0zld5z 24 14 equity equity NN cord-035342-sf0zld5z 24 15 investments investment NNS cord-035342-sf0zld5z 24 16 and and CC cord-035342-sf0zld5z 24 17 indirect indirect JJ cord-035342-sf0zld5z 24 18 equity equity NN cord-035342-sf0zld5z 24 19 mutual mutual JJ cord-035342-sf0zld5z 24 20 fund fund NN cord-035342-sf0zld5z 24 21 investments investment NNS cord-035342-sf0zld5z 24 22 , , , cord-035342-sf0zld5z 24 23 but but CC cord-035342-sf0zld5z 24 24 the the DT cord-035342-sf0zld5z 24 25 home home NN cord-035342-sf0zld5z 24 26 bias bias NN cord-035342-sf0zld5z 24 27 also also RB cord-035342-sf0zld5z 24 28 can can MD cord-035342-sf0zld5z 24 29 be be VB cord-035342-sf0zld5z 24 30 determined determine VBN cord-035342-sf0zld5z 24 31 for for IN cord-035342-sf0zld5z 24 32 bonds bond NNS cord-035342-sf0zld5z 24 33 ( ( -LRB- cord-035342-sf0zld5z 24 34 Ferreira Ferreira NNP cord-035342-sf0zld5z 24 35 and and CC cord-035342-sf0zld5z 24 36 Miguel Miguel NNP cord-035342-sf0zld5z 24 37 2011 2011 CD cord-035342-sf0zld5z 24 38 ; ; : cord-035342-sf0zld5z 24 39 Solnik Solnik NNP cord-035342-sf0zld5z 24 40 and and CC cord-035342-sf0zld5z 24 41 Zuo Zuo NNP cord-035342-sf0zld5z 24 42 2016 2016 CD cord-035342-sf0zld5z 24 43 ) ) -RRB- cord-035342-sf0zld5z 24 44 , , , cord-035342-sf0zld5z 24 45 real real JJ cord-035342-sf0zld5z 24 46 estate estate NN cord-035342-sf0zld5z 24 47 ( ( -LRB- cord-035342-sf0zld5z 24 48 Eichholtz Eichholtz NNP cord-035342-sf0zld5z 24 49 et et NNP cord-035342-sf0zld5z 24 50 al al NNP cord-035342-sf0zld5z 24 51 . . . cord-035342-sf0zld5z 24 52 2001 2001 CD cord-035342-sf0zld5z 24 53 ; ; : cord-035342-sf0zld5z 24 54 Imazeki Imazeki NNP cord-035342-sf0zld5z 24 55 and and CC cord-035342-sf0zld5z 24 56 Gallimore Gallimore NNP cord-035342-sf0zld5z 24 57 2009 2009 CD cord-035342-sf0zld5z 24 58 ) ) -RRB- cord-035342-sf0zld5z 24 59 venture venture NN cord-035342-sf0zld5z 24 60 capital capital NN cord-035342-sf0zld5z 24 61 investments investment NNS cord-035342-sf0zld5z 24 62 ( ( -LRB- cord-035342-sf0zld5z 24 63 Cumming Cumming NNP cord-035342-sf0zld5z 24 64 and and CC cord-035342-sf0zld5z 24 65 Dai Dai NNP cord-035342-sf0zld5z 24 66 2010 2010 CD cord-035342-sf0zld5z 24 67 ) ) -RRB- cord-035342-sf0zld5z 24 68 and and CC cord-035342-sf0zld5z 24 69 bank bank NN cord-035342-sf0zld5z 24 70 loans loan NNS cord-035342-sf0zld5z 24 71 ( ( -LRB- cord-035342-sf0zld5z 24 72 Presbitero Presbitero NNP cord-035342-sf0zld5z 24 73 et et NNP cord-035342-sf0zld5z 24 74 al al NNP cord-035342-sf0zld5z 24 75 . . NNP cord-035342-sf0zld5z 24 76 2014 2014 CD cord-035342-sf0zld5z 24 77 ) ) -RRB- cord-035342-sf0zld5z 24 78 . . . cord-035342-sf0zld5z 25 1 Home home NN cord-035342-sf0zld5z 25 2 and and CC cord-035342-sf0zld5z 25 3 local local JJ cord-035342-sf0zld5z 25 4 bias bias NN cord-035342-sf0zld5z 25 5 are be VBP cord-035342-sf0zld5z 25 6 prevalent prevalent JJ cord-035342-sf0zld5z 25 7 and and CC cord-035342-sf0zld5z 25 8 existing exist VBG cord-035342-sf0zld5z 25 9 for for IN cord-035342-sf0zld5z 25 10 both both DT cord-035342-sf0zld5z 25 11 individual individual JJ cord-035342-sf0zld5z 25 12 household household NN cord-035342-sf0zld5z 25 13 investors investor NNS cord-035342-sf0zld5z 25 14 and and CC cord-035342-sf0zld5z 25 15 sophisticated sophisticated JJ cord-035342-sf0zld5z 25 16 , , , cord-035342-sf0zld5z 25 17 professional professional JJ cord-035342-sf0zld5z 25 18 investors investor NNS cord-035342-sf0zld5z 25 19 like like IN cord-035342-sf0zld5z 25 20 mutual mutual JJ cord-035342-sf0zld5z 25 21 fund fund NN cord-035342-sf0zld5z 25 22 managers manager NNS cord-035342-sf0zld5z 25 23 ( ( -LRB- cord-035342-sf0zld5z 25 24 Shapira Shapira NNP cord-035342-sf0zld5z 25 25 and and CC cord-035342-sf0zld5z 25 26 Venezia Venezia NNP cord-035342-sf0zld5z 25 27 2001 2001 CD cord-035342-sf0zld5z 25 28 ) ) -RRB- cord-035342-sf0zld5z 25 29 or or CC cord-035342-sf0zld5z 25 30 occupational occupational JJ cord-035342-sf0zld5z 25 31 pension pension NN cord-035342-sf0zld5z 25 32 fund fund NN cord-035342-sf0zld5z 25 33 managers manager NNS cord-035342-sf0zld5z 25 34 ( ( -LRB- cord-035342-sf0zld5z 25 35 Lippi Lippi NNP cord-035342-sf0zld5z 25 36 2016 2016 CD cord-035342-sf0zld5z 25 37 ) ) -RRB- cord-035342-sf0zld5z 25 38 . . . cord-035342-sf0zld5z 26 1 However however RB cord-035342-sf0zld5z 26 2 , , , cord-035342-sf0zld5z 26 3 individuals individual NNS cord-035342-sf0zld5z 26 4 tend tend VBP cord-035342-sf0zld5z 26 5 to to TO cord-035342-sf0zld5z 26 6 exhibit exhibit VB cord-035342-sf0zld5z 26 7 a a DT cord-035342-sf0zld5z 26 8 higher high JJR cord-035342-sf0zld5z 26 9 degree degree NN cord-035342-sf0zld5z 26 10 of of IN cord-035342-sf0zld5z 26 11 the the DT cord-035342-sf0zld5z 26 12 bias bias NN cord-035342-sf0zld5z 26 13 ( ( -LRB- cord-035342-sf0zld5z 26 14 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 26 15 and and CC cord-035342-sf0zld5z 26 16 Weisbenner Weisbenner NNP cord-035342-sf0zld5z 26 17 2005 2005 CD cord-035342-sf0zld5z 26 18 ; ; : cord-035342-sf0zld5z 27 1 Lütje Lütje NNP cord-035342-sf0zld5z 27 2 and and CC cord-035342-sf0zld5z 27 3 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 27 4 2007 2007 CD cord-035342-sf0zld5z 27 5 ) ) -RRB- cord-035342-sf0zld5z 27 6 . . . cord-035342-sf0zld5z 28 1 Most Most JJS cord-035342-sf0zld5z 28 2 empirical empirical JJ cord-035342-sf0zld5z 28 3 research research NN cord-035342-sf0zld5z 28 4 tried try VBD cord-035342-sf0zld5z 28 5 to to TO cord-035342-sf0zld5z 28 6 detect detect VB cord-035342-sf0zld5z 28 7 reasons reason NNS cord-035342-sf0zld5z 28 8 why why WRB cord-035342-sf0zld5z 28 9 investors investor NNS cord-035342-sf0zld5z 28 10 show show VBP cord-035342-sf0zld5z 28 11 a a DT cord-035342-sf0zld5z 28 12 home home NN cord-035342-sf0zld5z 28 13 and and CC cord-035342-sf0zld5z 28 14 local local JJ cord-035342-sf0zld5z 28 15 bias bias NN cord-035342-sf0zld5z 28 16 . . . cord-035342-sf0zld5z 29 1 It -PRON- PRP cord-035342-sf0zld5z 29 2 can can MD cord-035342-sf0zld5z 29 3 be be VB cord-035342-sf0zld5z 29 4 discussed discuss VBN cord-035342-sf0zld5z 29 5 if if IN cord-035342-sf0zld5z 29 6 institutional institutional JJ cord-035342-sf0zld5z 29 7 reasons reason NNS cord-035342-sf0zld5z 29 8 urge urge VBP cord-035342-sf0zld5z 29 9 investors investor NNS cord-035342-sf0zld5z 29 10 to to TO cord-035342-sf0zld5z 29 11 show show VB cord-035342-sf0zld5z 29 12 a a DT cord-035342-sf0zld5z 29 13 home home NN cord-035342-sf0zld5z 29 14 bias bias NN cord-035342-sf0zld5z 29 15 . . . cord-035342-sf0zld5z 30 1 Taxes taxis NNS cord-035342-sf0zld5z 30 2 , , , cord-035342-sf0zld5z 30 3 transaction transaction NN cord-035342-sf0zld5z 30 4 costs cost NNS cord-035342-sf0zld5z 30 5 and and CC cord-035342-sf0zld5z 30 6 barriers barrier NNS cord-035342-sf0zld5z 30 7 to to IN cord-035342-sf0zld5z 30 8 international international JJ cord-035342-sf0zld5z 30 9 investments investment NNS cord-035342-sf0zld5z 30 10 may may MD cord-035342-sf0zld5z 30 11 contribute contribute VB cord-035342-sf0zld5z 30 12 ( ( -LRB- cord-035342-sf0zld5z 30 13 Black black JJ cord-035342-sf0zld5z 30 14 1974 1974 CD cord-035342-sf0zld5z 30 15 ; ; : cord-035342-sf0zld5z 30 16 Michaelides Michaelides NNP cord-035342-sf0zld5z 30 17 2003 2003 CD cord-035342-sf0zld5z 30 18 ) ) -RRB- cord-035342-sf0zld5z 30 19 , , , cord-035342-sf0zld5z 30 20 though though IN cord-035342-sf0zld5z 30 21 institutional institutional JJ cord-035342-sf0zld5z 30 22 reasons reason NNS cord-035342-sf0zld5z 30 23 are be VBP cord-035342-sf0zld5z 30 24 often often RB cord-035342-sf0zld5z 30 25 challenged challenge VBN cord-035342-sf0zld5z 30 26 in in IN cord-035342-sf0zld5z 30 27 literature literature NN cord-035342-sf0zld5z 30 28 ( ( -LRB- cord-035342-sf0zld5z 30 29 Coën Coën NNP cord-035342-sf0zld5z 30 30 2001 2001 CD cord-035342-sf0zld5z 30 31 ; ; : cord-035342-sf0zld5z 30 32 Glassman Glassman NNP cord-035342-sf0zld5z 30 33 and and CC cord-035342-sf0zld5z 30 34 Riddick Riddick NNP cord-035342-sf0zld5z 30 35 2001 2001 CD cord-035342-sf0zld5z 30 36 ) ) -RRB- cord-035342-sf0zld5z 30 37 . . . cord-035342-sf0zld5z 31 1 Informational informational JJ cord-035342-sf0zld5z 31 2 asymmetries asymmetry NNS cord-035342-sf0zld5z 31 3 between between IN cord-035342-sf0zld5z 31 4 investors investor NNS cord-035342-sf0zld5z 31 5 presumably presumably RB cord-035342-sf0zld5z 31 6 cause cause VBP cord-035342-sf0zld5z 31 7 home home NN cord-035342-sf0zld5z 31 8 bias bias NN cord-035342-sf0zld5z 31 9 . . . cord-035342-sf0zld5z 32 1 These these DT cord-035342-sf0zld5z 32 2 informational informational JJ cord-035342-sf0zld5z 32 3 reasons reason NNS cord-035342-sf0zld5z 32 4 can can MD cord-035342-sf0zld5z 32 5 be be VB cord-035342-sf0zld5z 32 6 seen see VBN cord-035342-sf0zld5z 32 7 in in IN cord-035342-sf0zld5z 32 8 a a DT cord-035342-sf0zld5z 32 9 universal universal JJ cord-035342-sf0zld5z 32 10 setting setting NN cord-035342-sf0zld5z 32 11 as as IN cord-035342-sf0zld5z 32 12 general general JJ cord-035342-sf0zld5z 32 13 information information NN cord-035342-sf0zld5z 32 14 asymmetries asymmetry NNS cord-035342-sf0zld5z 32 15 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 32 16 1999 1999 CD cord-035342-sf0zld5z 32 17 , , , cord-035342-sf0zld5z 32 18 2001 2001 CD cord-035342-sf0zld5z 32 19 ; ; : cord-035342-sf0zld5z 32 20 Dziuda Dziuda NNP cord-035342-sf0zld5z 32 21 and and CC cord-035342-sf0zld5z 32 22 Mondria Mondria NNP cord-035342-sf0zld5z 32 23 2012 2012 CD cord-035342-sf0zld5z 32 24 ; ; : cord-035342-sf0zld5z 32 25 Shukla Shukla NNP cord-035342-sf0zld5z 32 26 and and CC cord-035342-sf0zld5z 32 27 van van NNP cord-035342-sf0zld5z 32 28 Inwegen Inwegen NNP cord-035342-sf0zld5z 32 29 1995 1995 CD cord-035342-sf0zld5z 32 30 ) ) -RRB- cord-035342-sf0zld5z 32 31 or or CC cord-035342-sf0zld5z 32 32 as as IN cord-035342-sf0zld5z 32 33 informational informational JJ cord-035342-sf0zld5z 32 34 advantages advantage NNS cord-035342-sf0zld5z 32 35 resulting result VBG cord-035342-sf0zld5z 32 36 from from IN cord-035342-sf0zld5z 32 37 different different JJ cord-035342-sf0zld5z 32 38 accounting accounting NN cord-035342-sf0zld5z 32 39 standards standard NNS cord-035342-sf0zld5z 32 40 between between IN cord-035342-sf0zld5z 32 41 countries country NNS cord-035342-sf0zld5z 32 42 ( ( -LRB- cord-035342-sf0zld5z 32 43 Ahearne Ahearne NNP cord-035342-sf0zld5z 32 44 et et NNP cord-035342-sf0zld5z 32 45 al al NNP cord-035342-sf0zld5z 32 46 . . . cord-035342-sf0zld5z 32 47 2004 2004 CD cord-035342-sf0zld5z 32 48 ; ; : cord-035342-sf0zld5z 32 49 Bradshaw Bradshaw NNP cord-035342-sf0zld5z 32 50 et et NNP cord-035342-sf0zld5z 32 51 al al NNP cord-035342-sf0zld5z 32 52 . . . cord-035342-sf0zld5z 33 1 2004 2004 CD cord-035342-sf0zld5z 33 2 ; ; : cord-035342-sf0zld5z 33 3 Eichler Eichler NNP cord-035342-sf0zld5z 33 4 2012 2012 CD cord-035342-sf0zld5z 33 5 ) ) -RRB- cord-035342-sf0zld5z 33 6 . . . cord-035342-sf0zld5z 34 1 Familiarity familiarity NN cord-035342-sf0zld5z 34 2 also also RB cord-035342-sf0zld5z 34 3 may may MD cord-035342-sf0zld5z 34 4 induce induce VB cord-035342-sf0zld5z 34 5 informational informational JJ cord-035342-sf0zld5z 34 6 advantages advantage NNS cord-035342-sf0zld5z 34 7 , , , cord-035342-sf0zld5z 34 8 thus thus RB cord-035342-sf0zld5z 34 9 a a DT cord-035342-sf0zld5z 34 10 home home NN cord-035342-sf0zld5z 34 11 and and CC cord-035342-sf0zld5z 34 12 local local JJ cord-035342-sf0zld5z 34 13 bias bias NN cord-035342-sf0zld5z 34 14 ( ( -LRB- cord-035342-sf0zld5z 34 15 Bodnaruk Bodnaruk NNP cord-035342-sf0zld5z 34 16 2009 2009 CD cord-035342-sf0zld5z 34 17 ; ; : cord-035342-sf0zld5z 34 18 Massa Massa NNP cord-035342-sf0zld5z 34 19 and and CC cord-035342-sf0zld5z 34 20 Simonov Simonov NNP cord-035342-sf0zld5z 34 21 2006 2006 CD cord-035342-sf0zld5z 34 22 ) ) -RRB- cord-035342-sf0zld5z 34 23 . . . cord-035342-sf0zld5z 35 1 A a DT cord-035342-sf0zld5z 35 2 third third JJ cord-035342-sf0zld5z 35 3 , , , cord-035342-sf0zld5z 35 4 quite quite RB cord-035342-sf0zld5z 35 5 popular popular JJ cord-035342-sf0zld5z 35 6 category category NN cord-035342-sf0zld5z 35 7 in in IN cord-035342-sf0zld5z 35 8 studies study NNS cord-035342-sf0zld5z 35 9 are be VBP cord-035342-sf0zld5z 35 10 behavioural behavioural JJ cord-035342-sf0zld5z 35 11 reasons reason NNS cord-035342-sf0zld5z 35 12 and and CC cord-035342-sf0zld5z 35 13 home home NN cord-035342-sf0zld5z 35 14 bias bias NN cord-035342-sf0zld5z 35 15 then then RB cord-035342-sf0zld5z 35 16 should should MD cord-035342-sf0zld5z 35 17 be be VB cord-035342-sf0zld5z 35 18 related relate VBN cord-035342-sf0zld5z 35 19 to to IN cord-035342-sf0zld5z 35 20 emotional emotional JJ cord-035342-sf0zld5z 35 21 biases bias NNS cord-035342-sf0zld5z 35 22 of of IN cord-035342-sf0zld5z 35 23 investments investment NNS cord-035342-sf0zld5z 35 24 and and CC cord-035342-sf0zld5z 35 25 asset asset NN cord-035342-sf0zld5z 35 26 allocation allocation NN cord-035342-sf0zld5z 35 27 . . . cord-035342-sf0zld5z 36 1 A a DT cord-035342-sf0zld5z 36 2 general general JJ cord-035342-sf0zld5z 36 3 optimism optimism NN cord-035342-sf0zld5z 36 4 and and CC cord-035342-sf0zld5z 36 5 a a DT cord-035342-sf0zld5z 36 6 strong strong JJ cord-035342-sf0zld5z 36 7 belief belief NN cord-035342-sf0zld5z 36 8 in in IN cord-035342-sf0zld5z 36 9 domestic domestic JJ cord-035342-sf0zld5z 36 10 / / SYM cord-035342-sf0zld5z 36 11 local local JJ cord-035342-sf0zld5z 36 12 assets asset NNS cord-035342-sf0zld5z 36 13 ( ( -LRB- cord-035342-sf0zld5z 36 14 Li Li NNP cord-035342-sf0zld5z 36 15 2004 2004 CD cord-035342-sf0zld5z 36 16 ; ; : cord-035342-sf0zld5z 36 17 Solnik Solnik NNP cord-035342-sf0zld5z 36 18 and and CC cord-035342-sf0zld5z 36 19 Zuo Zuo NNP cord-035342-sf0zld5z 36 20 2016 2016 CD cord-035342-sf0zld5z 36 21 ; ; : cord-035342-sf0zld5z 36 22 Strong strong JJ cord-035342-sf0zld5z 36 23 and and CC cord-035342-sf0zld5z 36 24 Xu Xu NNP cord-035342-sf0zld5z 36 25 2003 2003 CD cord-035342-sf0zld5z 36 26 ) ) -RRB- cord-035342-sf0zld5z 36 27 are be VBP cord-035342-sf0zld5z 36 28 part part NN cord-035342-sf0zld5z 36 29 of of IN cord-035342-sf0zld5z 36 30 these these DT cord-035342-sf0zld5z 36 31 explanations explanation NNS cord-035342-sf0zld5z 36 32 as as RB cord-035342-sf0zld5z 36 33 well well RB cord-035342-sf0zld5z 36 34 as as IN cord-035342-sf0zld5z 36 35 ambiguity ambiguity NN cord-035342-sf0zld5z 36 36 aversion aversion NN cord-035342-sf0zld5z 36 37 ( ( -LRB- cord-035342-sf0zld5z 36 38 Dimmock Dimmock NNP cord-035342-sf0zld5z 36 39 et et NNP cord-035342-sf0zld5z 36 40 al al NNP cord-035342-sf0zld5z 36 41 . . . cord-035342-sf0zld5z 36 42 2016 2016 CD cord-035342-sf0zld5z 36 43 ) ) -RRB- cord-035342-sf0zld5z 36 44 , , , cord-035342-sf0zld5z 36 45 perceived perceive VBN cord-035342-sf0zld5z 36 46 competence competence NN cord-035342-sf0zld5z 36 47 ( ( -LRB- cord-035342-sf0zld5z 36 48 Abreu Abreu NNP cord-035342-sf0zld5z 36 49 et et FW cord-035342-sf0zld5z 36 50 al al NNP cord-035342-sf0zld5z 36 51 . . NNP cord-035342-sf0zld5z 36 52 2011 2011 CD cord-035342-sf0zld5z 36 53 ; ; : cord-035342-sf0zld5z 36 54 Kilka Kilka NNP cord-035342-sf0zld5z 36 55 and and CC cord-035342-sf0zld5z 36 56 Weber Weber NNP cord-035342-sf0zld5z 36 57 2000 2000 CD cord-035342-sf0zld5z 36 58 ) ) -RRB- cord-035342-sf0zld5z 36 59 and and CC cord-035342-sf0zld5z 36 60 experience experience NN cord-035342-sf0zld5z 36 61 of of IN cord-035342-sf0zld5z 36 62 investors investor NNS cord-035342-sf0zld5z 36 63 ( ( -LRB- cord-035342-sf0zld5z 36 64 Graham Graham NNP cord-035342-sf0zld5z 36 65 et et NNP cord-035342-sf0zld5z 36 66 al al NNP cord-035342-sf0zld5z 36 67 . . . cord-035342-sf0zld5z 36 68 2009 2009 CD cord-035342-sf0zld5z 36 69 ; ; . cord-035342-sf0zld5z 37 1 Lütje Lütje NNP cord-035342-sf0zld5z 37 2 and and CC cord-035342-sf0zld5z 37 3 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 37 4 2007 2007 CD cord-035342-sf0zld5z 37 5 ) ) -RRB- cord-035342-sf0zld5z 37 6 . . . cord-035342-sf0zld5z 38 1 Financial financial JJ cord-035342-sf0zld5z 38 2 literacy literacy NN cord-035342-sf0zld5z 38 3 and and CC cord-035342-sf0zld5z 38 4 advice advice NN cord-035342-sf0zld5z 38 5 seeking seeking NN cord-035342-sf0zld5z 38 6 of of IN cord-035342-sf0zld5z 38 7 investors investor NNS cord-035342-sf0zld5z 38 8 ( ( -LRB- cord-035342-sf0zld5z 38 9 Calcagno Calcagno NNP cord-035342-sf0zld5z 38 10 and and CC cord-035342-sf0zld5z 38 11 Monticone Monticone NNP cord-035342-sf0zld5z 38 12 2015 2015 CD cord-035342-sf0zld5z 38 13 ; ; : cord-035342-sf0zld5z 38 14 Kramer Kramer NNP cord-035342-sf0zld5z 38 15 2016 2016 CD cord-035342-sf0zld5z 38 16 ; ; : cord-035342-sf0zld5z 38 17 Mietzner Mietzner NNP cord-035342-sf0zld5z 38 18 and and CC cord-035342-sf0zld5z 38 19 Molterer Molterer NNP cord-035342-sf0zld5z 38 20 2018 2018 CD cord-035342-sf0zld5z 38 21 ) ) -RRB- cord-035342-sf0zld5z 38 22 can can MD cord-035342-sf0zld5z 38 23 be be VB cord-035342-sf0zld5z 38 24 assumed assume VBN cord-035342-sf0zld5z 38 25 being be VBG cord-035342-sf0zld5z 38 26 related relate VBN cord-035342-sf0zld5z 38 27 to to IN cord-035342-sf0zld5z 38 28 home home NN cord-035342-sf0zld5z 38 29 and and CC cord-035342-sf0zld5z 38 30 local local JJ cord-035342-sf0zld5z 38 31 bias bias NN cord-035342-sf0zld5z 38 32 . . . cord-035342-sf0zld5z 38 33 ' ' '' cord-035342-sf0zld5z 39 1 Pure pure JJ cord-035342-sf0zld5z 39 2 familiarity familiarity NN cord-035342-sf0zld5z 39 3 ' ' '' cord-035342-sf0zld5z 39 4 , , , cord-035342-sf0zld5z 39 5 a a DT cord-035342-sf0zld5z 39 6 notion notion NN cord-035342-sf0zld5z 39 7 coined coin VBN cord-035342-sf0zld5z 39 8 by by IN cord-035342-sf0zld5z 39 9 Massa Massa NNP cord-035342-sf0zld5z 39 10 and and CC cord-035342-sf0zld5z 39 11 Simonov Simonov NNP cord-035342-sf0zld5z 39 12 ( ( -LRB- cord-035342-sf0zld5z 39 13 2006 2006 CD cord-035342-sf0zld5z 39 14 ) ) -RRB- cord-035342-sf0zld5z 39 15 , , , cord-035342-sf0zld5z 39 16 and and CC cord-035342-sf0zld5z 39 17 also also RB cord-035342-sf0zld5z 39 18 studied study VBD cord-035342-sf0zld5z 39 19 for for IN cord-035342-sf0zld5z 39 20 the the DT cord-035342-sf0zld5z 39 21 local local JJ cord-035342-sf0zld5z 39 22 bias bias NN cord-035342-sf0zld5z 39 23 by by IN cord-035342-sf0zld5z 39 24 Grinblatt Grinblatt NNP cord-035342-sf0zld5z 39 25 and and CC cord-035342-sf0zld5z 39 26 Keloharju Keloharju NNP cord-035342-sf0zld5z 39 27 ( ( -LRB- cord-035342-sf0zld5z 39 28 2001 2001 CD cord-035342-sf0zld5z 39 29 ) ) -RRB- cord-035342-sf0zld5z 39 30 , , , cord-035342-sf0zld5z 39 31 plays play VBZ cord-035342-sf0zld5z 39 32 a a DT cord-035342-sf0zld5z 39 33 role role NN cord-035342-sf0zld5z 39 34 as as RB cord-035342-sf0zld5z 39 35 well well RB cord-035342-sf0zld5z 39 36 . . . cord-035342-sf0zld5z 40 1 Patriotism patriotism NN cord-035342-sf0zld5z 40 2 ( ( -LRB- cord-035342-sf0zld5z 40 3 Morse Morse NNP cord-035342-sf0zld5z 40 4 and and CC cord-035342-sf0zld5z 40 5 Shive Shive NNP cord-035342-sf0zld5z 40 6 2011 2011 CD cord-035342-sf0zld5z 40 7 ) ) -RRB- cord-035342-sf0zld5z 40 8 and and CC cord-035342-sf0zld5z 40 9 loyalty loyalty NN cord-035342-sf0zld5z 40 10 ( ( -LRB- cord-035342-sf0zld5z 40 11 Cohen Cohen NNP cord-035342-sf0zld5z 40 12 2009 2009 CD cord-035342-sf0zld5z 40 13 ) ) -RRB- cord-035342-sf0zld5z 40 14 are be VBP cord-035342-sf0zld5z 40 15 similar similar JJ cord-035342-sf0zld5z 40 16 behavioural behavioural JJ cord-035342-sf0zld5z 40 17 traits trait NNS cord-035342-sf0zld5z 40 18 . . . cord-035342-sf0zld5z 41 1 Hedging hedge VBG cord-035342-sf0zld5z 41 2 motives motive NNS cord-035342-sf0zld5z 41 3 constitute constitute VBP cord-035342-sf0zld5z 41 4 the the DT cord-035342-sf0zld5z 41 5 last last JJ cord-035342-sf0zld5z 41 6 part part NN cord-035342-sf0zld5z 41 7 of of IN cord-035342-sf0zld5z 41 8 behavioural behavioural JJ cord-035342-sf0zld5z 41 9 reasons reason NNS cord-035342-sf0zld5z 41 10 . . . cord-035342-sf0zld5z 42 1 By by IN cord-035342-sf0zld5z 42 2 exhibiting exhibit VBG cord-035342-sf0zld5z 42 3 a a DT cord-035342-sf0zld5z 42 4 home home NN cord-035342-sf0zld5z 42 5 bias bias NN cord-035342-sf0zld5z 42 6 , , , cord-035342-sf0zld5z 42 7 investors investor NNS cord-035342-sf0zld5z 42 8 may may MD cord-035342-sf0zld5z 42 9 be be VB cord-035342-sf0zld5z 42 10 capable capable JJ cord-035342-sf0zld5z 42 11 of of IN cord-035342-sf0zld5z 42 12 hedging hedge VBG cord-035342-sf0zld5z 42 13 against against IN cord-035342-sf0zld5z 42 14 uncertainty uncertainty NN cord-035342-sf0zld5z 42 15 ( ( -LRB- cord-035342-sf0zld5z 42 16 generally generally RB cord-035342-sf0zld5z 42 17 examined examine VBN cord-035342-sf0zld5z 42 18 by by IN cord-035342-sf0zld5z 42 19 Choi Choi NNP cord-035342-sf0zld5z 42 20 et et NNP cord-035342-sf0zld5z 42 21 al al NNP cord-035342-sf0zld5z 42 22 . . . cord-035342-sf0zld5z 43 1 ( ( -LRB- cord-035342-sf0zld5z 43 2 2017 2017 CD cord-035342-sf0zld5z 43 3 ) ) -RRB- cord-035342-sf0zld5z 43 4 ) ) -RRB- cord-035342-sf0zld5z 43 5 which which WDT cord-035342-sf0zld5z 43 6 often often RB cord-035342-sf0zld5z 43 7 takes take VBZ cord-035342-sf0zld5z 43 8 the the DT cord-035342-sf0zld5z 43 9 form form NN cord-035342-sf0zld5z 43 10 of of IN cord-035342-sf0zld5z 43 11 inflation inflation NN cord-035342-sf0zld5z 43 12 risk risk NN cord-035342-sf0zld5z 43 13 , , , cord-035342-sf0zld5z 43 14 exchange exchange NN cord-035342-sf0zld5z 43 15 rate rate NN cord-035342-sf0zld5z 43 16 risk risk NN cord-035342-sf0zld5z 43 17 and and CC cord-035342-sf0zld5z 43 18 consequential consequential JJ cord-035342-sf0zld5z 43 19 deviations deviation NNS cord-035342-sf0zld5z 43 20 from from IN cord-035342-sf0zld5z 43 21 purchasing purchase VBG cord-035342-sf0zld5z 43 22 power power NN cord-035342-sf0zld5z 43 23 parity parity NN cord-035342-sf0zld5z 43 24 ( ( -LRB- cord-035342-sf0zld5z 43 25 Fidora Fidora NNP cord-035342-sf0zld5z 43 26 et et NNP cord-035342-sf0zld5z 43 27 al al NNP cord-035342-sf0zld5z 43 28 . . NNP cord-035342-sf0zld5z 43 29 2007 2007 CD cord-035342-sf0zld5z 43 30 ; ; : cord-035342-sf0zld5z 43 31 Harms Harms NNP cord-035342-sf0zld5z 43 32 et et FW cord-035342-sf0zld5z 43 33 al al NNP cord-035342-sf0zld5z 43 34 . . NNP cord-035342-sf0zld5z 43 35 2015 2015 CD cord-035342-sf0zld5z 43 36 ) ) -RRB- cord-035342-sf0zld5z 43 37 . . . cord-035342-sf0zld5z 44 1 The the DT cord-035342-sf0zld5z 44 2 importance importance NN cord-035342-sf0zld5z 44 3 and and CC cord-035342-sf0zld5z 44 4 practical practical JJ cord-035342-sf0zld5z 44 5 relevance relevance NN cord-035342-sf0zld5z 44 6 of of IN cord-035342-sf0zld5z 44 7 hedging hedge VBG cord-035342-sf0zld5z 44 8 motives motive NNS cord-035342-sf0zld5z 44 9 is be VBZ cord-035342-sf0zld5z 44 10 put put VBN cord-035342-sf0zld5z 44 11 into into IN cord-035342-sf0zld5z 44 12 question question NN cord-035342-sf0zld5z 44 13 ( ( -LRB- cord-035342-sf0zld5z 44 14 Cooper Cooper NNP cord-035342-sf0zld5z 44 15 and and CC cord-035342-sf0zld5z 44 16 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 44 17 1994 1994 CD cord-035342-sf0zld5z 44 18 ; ; : cord-035342-sf0zld5z 44 19 Glassman Glassman NNP cord-035342-sf0zld5z 44 20 and and CC cord-035342-sf0zld5z 44 21 Riddick Riddick NNP cord-035342-sf0zld5z 44 22 2001 2001 CD cord-035342-sf0zld5z 44 23 ; ; : cord-035342-sf0zld5z 44 24 Uppal Uppal NNP cord-035342-sf0zld5z 44 25 1993 1993 CD cord-035342-sf0zld5z 44 26 ) ) -RRB- cord-035342-sf0zld5z 44 27 . . . cord-035342-sf0zld5z 45 1 There there EX cord-035342-sf0zld5z 45 2 are be VBP cord-035342-sf0zld5z 45 3 many many JJ cord-035342-sf0zld5z 45 4 reviews review NNS cord-035342-sf0zld5z 45 5 about about IN cord-035342-sf0zld5z 45 6 home home NN cord-035342-sf0zld5z 45 7 bias bias NN cord-035342-sf0zld5z 46 1 ( ( -LRB- cord-035342-sf0zld5z 46 2 Lewis Lewis NNP cord-035342-sf0zld5z 46 3 1999 1999 CD cord-035342-sf0zld5z 46 4 ; ; : cord-035342-sf0zld5z 46 5 Wolf Wolf NNP cord-035342-sf0zld5z 46 6 2000 2000 CD cord-035342-sf0zld5z 46 7 ; ; : cord-035342-sf0zld5z 46 8 Coeurdacier Coeurdacier NNP cord-035342-sf0zld5z 46 9 and and CC cord-035342-sf0zld5z 46 10 Rey Rey NNP cord-035342-sf0zld5z 46 11 2013 2013 CD cord-035342-sf0zld5z 46 12 ; ; : cord-035342-sf0zld5z 46 13 Ardalan Ardalan NNP cord-035342-sf0zld5z 46 14 2019 2019 CD cord-035342-sf0zld5z 46 15 ) ) -RRB- cord-035342-sf0zld5z 46 16 . . . cord-035342-sf0zld5z 47 1 The the DT cord-035342-sf0zld5z 47 2 reviews review NNS cord-035342-sf0zld5z 47 3 of of IN cord-035342-sf0zld5z 47 4 Lewis Lewis NNP cord-035342-sf0zld5z 47 5 ( ( -LRB- cord-035342-sf0zld5z 47 6 1999 1999 CD cord-035342-sf0zld5z 47 7 ) ) -RRB- cord-035342-sf0zld5z 47 8 and and CC cord-035342-sf0zld5z 47 9 Wolf Wolf NNP cord-035342-sf0zld5z 47 10 ( ( -LRB- cord-035342-sf0zld5z 47 11 2000 2000 CD cord-035342-sf0zld5z 47 12 ) ) -RRB- cord-035342-sf0zld5z 47 13 are be VBP cord-035342-sf0zld5z 47 14 dated date VBN cord-035342-sf0zld5z 47 15 back back RB cord-035342-sf0zld5z 47 16 two two CD cord-035342-sf0zld5z 47 17 decades decade NNS cord-035342-sf0zld5z 47 18 and and CC cord-035342-sf0zld5z 47 19 often often RB cord-035342-sf0zld5z 47 20 examined examine VBD cord-035342-sf0zld5z 47 21 home home NN cord-035342-sf0zld5z 47 22 bias bias NN cord-035342-sf0zld5z 47 23 in in IN cord-035342-sf0zld5z 47 24 consumption consumption NN cord-035342-sf0zld5z 47 25 as as RB cord-035342-sf0zld5z 47 26 well well RB cord-035342-sf0zld5z 47 27 . . . cord-035342-sf0zld5z 48 1 Meanwhile meanwhile RB cord-035342-sf0zld5z 48 2 the the DT cord-035342-sf0zld5z 48 3 number number NN cord-035342-sf0zld5z 48 4 of of IN cord-035342-sf0zld5z 48 5 exchange exchange NN cord-035342-sf0zld5z 48 6 listed list VBN cord-035342-sf0zld5z 48 7 companies company NNS cord-035342-sf0zld5z 48 8 dropped drop VBD cord-035342-sf0zld5z 48 9 significantly significantly RB cord-035342-sf0zld5z 48 10 in in IN cord-035342-sf0zld5z 48 11 all all DT cord-035342-sf0zld5z 48 12 major major JJ cord-035342-sf0zld5z 48 13 stock stock NN cord-035342-sf0zld5z 48 14 markets market NNS cord-035342-sf0zld5z 48 15 leaving leave VBG cord-035342-sf0zld5z 48 16 investors investor NNS cord-035342-sf0zld5z 48 17 with with IN cord-035342-sf0zld5z 48 18 a a DT cord-035342-sf0zld5z 48 19 smaller small JJR cord-035342-sf0zld5z 48 20 number number NN cord-035342-sf0zld5z 48 21 of of IN cord-035342-sf0zld5z 48 22 assets asset NNS cord-035342-sf0zld5z 48 23 to to TO cord-035342-sf0zld5z 48 24 diversify diversify VB cord-035342-sf0zld5z 48 25 . . . cord-035342-sf0zld5z 49 1 The the DT cord-035342-sf0zld5z 49 2 sources source NNS cord-035342-sf0zld5z 49 3 to to TO cord-035342-sf0zld5z 49 4 collect collect VB cord-035342-sf0zld5z 49 5 information information NN cord-035342-sf0zld5z 49 6 about about IN cord-035342-sf0zld5z 49 7 stocks stock NNS cord-035342-sf0zld5z 49 8 for for IN cord-035342-sf0zld5z 49 9 investments investment NNS cord-035342-sf0zld5z 49 10 increased increase VBD cord-035342-sf0zld5z 49 11 with with IN cord-035342-sf0zld5z 49 12 the the DT cord-035342-sf0zld5z 49 13 number number NN cord-035342-sf0zld5z 49 14 of of IN cord-035342-sf0zld5z 49 15 Internet internet NN cord-035342-sf0zld5z 49 16 users user NNS cord-035342-sf0zld5z 49 17 facilitating facilitate VBG cord-035342-sf0zld5z 49 18 the the DT cord-035342-sf0zld5z 49 19 basis basis NN cord-035342-sf0zld5z 49 20 for for IN cord-035342-sf0zld5z 49 21 knowledge knowledge NN cord-035342-sf0zld5z 49 22 about about IN cord-035342-sf0zld5z 49 23 foreign foreign JJ cord-035342-sf0zld5z 49 24 assets asset NNS cord-035342-sf0zld5z 49 25 . . . cord-035342-sf0zld5z 50 1 And and CC cord-035342-sf0zld5z 50 2 in in IN cord-035342-sf0zld5z 50 3 recent recent JJ cord-035342-sf0zld5z 50 4 years year NNS cord-035342-sf0zld5z 50 5 , , , cord-035342-sf0zld5z 50 6 the the DT cord-035342-sf0zld5z 50 7 necessity necessity NN cord-035342-sf0zld5z 50 8 to to TO cord-035342-sf0zld5z 50 9 privately privately RB cord-035342-sf0zld5z 50 10 save save VB cord-035342-sf0zld5z 50 11 and and CC cord-035342-sf0zld5z 50 12 invest invest VB cord-035342-sf0zld5z 50 13 for for IN cord-035342-sf0zld5z 50 14 retirement retirement NN cord-035342-sf0zld5z 50 15 purposes purpose NNS cord-035342-sf0zld5z 50 16 became become VBD cord-035342-sf0zld5z 50 17 more more RBR cord-035342-sf0zld5z 50 18 and and CC cord-035342-sf0zld5z 50 19 more more RBR cord-035342-sf0zld5z 50 20 obvious obvious JJ cord-035342-sf0zld5z 50 21 to to IN cord-035342-sf0zld5z 50 22 private private JJ cord-035342-sf0zld5z 50 23 households household NNS cord-035342-sf0zld5z 50 24 in in IN cord-035342-sf0zld5z 50 25 countries country NNS cord-035342-sf0zld5z 50 26 like like IN cord-035342-sf0zld5z 50 27 Germany Germany NNP cord-035342-sf0zld5z 50 28 with with IN cord-035342-sf0zld5z 50 29 a a DT cord-035342-sf0zld5z 50 30 long long JJ cord-035342-sf0zld5z 50 31 history history NN cord-035342-sf0zld5z 50 32 of of IN cord-035342-sf0zld5z 50 33 predominant predominant JJ cord-035342-sf0zld5z 50 34 savings saving NNS cord-035342-sf0zld5z 50 35 only only RB cord-035342-sf0zld5z 50 36 based base VBN cord-035342-sf0zld5z 50 37 on on IN cord-035342-sf0zld5z 50 38 bank bank NN cord-035342-sf0zld5z 50 39 accounts account NNS cord-035342-sf0zld5z 50 40 and and CC cord-035342-sf0zld5z 50 41 life life NN cord-035342-sf0zld5z 50 42 insurances insurance NNS cord-035342-sf0zld5z 50 43 . . . cord-035342-sf0zld5z 51 1 These these DT cord-035342-sf0zld5z 51 2 changes change NNS cord-035342-sf0zld5z 51 3 in in IN cord-035342-sf0zld5z 51 4 the the DT cord-035342-sf0zld5z 51 5 overall overall JJ cord-035342-sf0zld5z 51 6 institutional institutional JJ cord-035342-sf0zld5z 51 7 environment environment NN cord-035342-sf0zld5z 51 8 lead lead VBP cord-035342-sf0zld5z 51 9 us -PRON- PRP cord-035342-sf0zld5z 51 10 to to TO cord-035342-sf0zld5z 51 11 derive derive VB cord-035342-sf0zld5z 51 12 two two CD cord-035342-sf0zld5z 51 13 research research NN cord-035342-sf0zld5z 51 14 questions question NNS cord-035342-sf0zld5z 51 15 for for IN cord-035342-sf0zld5z 51 16 the the DT cord-035342-sf0zld5z 51 17 following follow VBG cord-035342-sf0zld5z 51 18 literature literature NN cord-035342-sf0zld5z 51 19 survey survey NN cord-035342-sf0zld5z 51 20 : : : cord-035342-sf0zld5z 51 21 1 1 CD cord-035342-sf0zld5z 51 22 . . . cord-035342-sf0zld5z 52 1 Is be VBZ cord-035342-sf0zld5z 52 2 there there EX cord-035342-sf0zld5z 52 3 still still RB cord-035342-sf0zld5z 52 4 convincing convincing JJ cord-035342-sf0zld5z 52 5 evidence evidence NN cord-035342-sf0zld5z 52 6 for for IN cord-035342-sf0zld5z 52 7 a a DT cord-035342-sf0zld5z 52 8 home home NN cord-035342-sf0zld5z 52 9 bias bias NN cord-035342-sf0zld5z 52 10 and and CC cord-035342-sf0zld5z 52 11 a a DT cord-035342-sf0zld5z 52 12 local local JJ cord-035342-sf0zld5z 52 13 bias bias NN cord-035342-sf0zld5z 52 14 in in IN cord-035342-sf0zld5z 52 15 developed develop VBN cord-035342-sf0zld5z 52 16 stock stock NN cord-035342-sf0zld5z 52 17 markets market NNS cord-035342-sf0zld5z 52 18 ? ? . cord-035342-sf0zld5z 53 1 2 2 LS cord-035342-sf0zld5z 53 2 . . . cord-035342-sf0zld5z 54 1 If if IN cord-035342-sf0zld5z 54 2 there there EX cord-035342-sf0zld5z 54 3 still still RB cord-035342-sf0zld5z 54 4 is be VBZ cord-035342-sf0zld5z 54 5 a a DT cord-035342-sf0zld5z 54 6 bias bias NN cord-035342-sf0zld5z 54 7 , , , cord-035342-sf0zld5z 54 8 does do VBZ cord-035342-sf0zld5z 54 9 this this DT cord-035342-sf0zld5z 54 10 bias bias NN cord-035342-sf0zld5z 54 11 result result VB cord-035342-sf0zld5z 54 12 in in IN cord-035342-sf0zld5z 54 13 inferior inferior JJ cord-035342-sf0zld5z 54 14 risk risk NN cord-035342-sf0zld5z 54 15 - - HYPH cord-035342-sf0zld5z 54 16 return return NN cord-035342-sf0zld5z 54 17 structures structure NNS cord-035342-sf0zld5z 54 18 of of IN cord-035342-sf0zld5z 54 19 private private JJ cord-035342-sf0zld5z 54 20 portfolios portfolio NNS cord-035342-sf0zld5z 54 21 ? ? . cord-035342-sf0zld5z 55 1 In in IN cord-035342-sf0zld5z 55 2 the the DT cord-035342-sf0zld5z 55 3 case case NN cord-035342-sf0zld5z 55 4 , , , cord-035342-sf0zld5z 55 5 that that IN cord-035342-sf0zld5z 55 6 both both DT cord-035342-sf0zld5z 55 7 questions question NNS cord-035342-sf0zld5z 55 8 have have VBP cord-035342-sf0zld5z 55 9 to to TO cord-035342-sf0zld5z 55 10 be be VB cord-035342-sf0zld5z 55 11 answered answer VBN cord-035342-sf0zld5z 55 12 positively positively RB cord-035342-sf0zld5z 55 13 then then RB cord-035342-sf0zld5z 55 14 financial financial JJ cord-035342-sf0zld5z 55 15 advisors advisor NNS cord-035342-sf0zld5z 55 16 in in IN cord-035342-sf0zld5z 55 17 banks bank NNS cord-035342-sf0zld5z 55 18 but but CC cord-035342-sf0zld5z 55 19 also also RB cord-035342-sf0zld5z 55 20 the the DT cord-035342-sf0zld5z 55 21 new new JJ cord-035342-sf0zld5z 55 22 robo robo NN cord-035342-sf0zld5z 55 23 advisors advisor NNS cord-035342-sf0zld5z 55 24 should should MD cord-035342-sf0zld5z 55 25 address address VB cord-035342-sf0zld5z 55 26 this this DT cord-035342-sf0zld5z 55 27 issue issue NN cord-035342-sf0zld5z 55 28 to to TO cord-035342-sf0zld5z 55 29 support support VB cord-035342-sf0zld5z 55 30 investors investor NNS cord-035342-sf0zld5z 55 31 in in IN cord-035342-sf0zld5z 55 32 overcoming overcome VBG cord-035342-sf0zld5z 55 33 the the DT cord-035342-sf0zld5z 55 34 otherwise otherwise RB cord-035342-sf0zld5z 55 35 biased biased JJ cord-035342-sf0zld5z 55 36 investment investment NN cord-035342-sf0zld5z 55 37 behaviour behaviour NN cord-035342-sf0zld5z 55 38 . . . cord-035342-sf0zld5z 56 1 Compared compare VBN cord-035342-sf0zld5z 56 2 to to IN cord-035342-sf0zld5z 56 3 the the DT cord-035342-sf0zld5z 56 4 more more RBR cord-035342-sf0zld5z 56 5 recent recent JJ cord-035342-sf0zld5z 56 6 reviews review NNS cord-035342-sf0zld5z 56 7 by by IN cord-035342-sf0zld5z 56 8 Coeurdacier Coeurdacier NNP cord-035342-sf0zld5z 56 9 and and CC cord-035342-sf0zld5z 56 10 Rey Rey NNP cord-035342-sf0zld5z 56 11 ( ( -LRB- cord-035342-sf0zld5z 56 12 2013 2013 CD cord-035342-sf0zld5z 56 13 ) ) -RRB- cord-035342-sf0zld5z 56 14 and and CC cord-035342-sf0zld5z 56 15 Ardalan Ardalan NNP cord-035342-sf0zld5z 56 16 ( ( -LRB- cord-035342-sf0zld5z 56 17 2019 2019 CD cord-035342-sf0zld5z 56 18 ) ) -RRB- cord-035342-sf0zld5z 57 1 the the DT cord-035342-sf0zld5z 57 2 contribution contribution NN cord-035342-sf0zld5z 57 3 to to IN cord-035342-sf0zld5z 57 4 research research NN cord-035342-sf0zld5z 57 5 of of IN cord-035342-sf0zld5z 57 6 this this DT cord-035342-sf0zld5z 57 7 review review NN cord-035342-sf0zld5z 57 8 can can MD cord-035342-sf0zld5z 57 9 be be VB cord-035342-sf0zld5z 57 10 defined define VBN cord-035342-sf0zld5z 57 11 from from IN cord-035342-sf0zld5z 57 12 two two CD cord-035342-sf0zld5z 57 13 sides side NNS cord-035342-sf0zld5z 57 14 . . . cord-035342-sf0zld5z 58 1 First first RB cord-035342-sf0zld5z 58 2 , , , cord-035342-sf0zld5z 58 3 the the DT cord-035342-sf0zld5z 58 4 studies study NNS cord-035342-sf0zld5z 58 5 and and CC cord-035342-sf0zld5z 58 6 papers paper NNS cord-035342-sf0zld5z 58 7 incorporated incorporate VBN cord-035342-sf0zld5z 58 8 in in IN cord-035342-sf0zld5z 58 9 this this DT cord-035342-sf0zld5z 58 10 review review NN cord-035342-sf0zld5z 58 11 differ differ VBP cord-035342-sf0zld5z 58 12 significantly significantly RB cord-035342-sf0zld5z 58 13 from from IN cord-035342-sf0zld5z 58 14 the the DT cord-035342-sf0zld5z 58 15 two two CD cord-035342-sf0zld5z 58 16 mentioned mention VBN cord-035342-sf0zld5z 58 17 and and CC cord-035342-sf0zld5z 58 18 a a DT cord-035342-sf0zld5z 58 19 large large JJ cord-035342-sf0zld5z 58 20 part part NN cord-035342-sf0zld5z 58 21 has have VBZ cord-035342-sf0zld5z 58 22 not not RB cord-035342-sf0zld5z 58 23 been be VBN cord-035342-sf0zld5z 58 24 included include VBN cord-035342-sf0zld5z 58 25 in in IN cord-035342-sf0zld5z 58 26 the the DT cord-035342-sf0zld5z 58 27 previous previous JJ cord-035342-sf0zld5z 58 28 reviews review NNS cord-035342-sf0zld5z 58 29 . . . cord-035342-sf0zld5z 59 1 This this DT cord-035342-sf0zld5z 59 2 is be VBZ cord-035342-sf0zld5z 59 3 partly partly RB cord-035342-sf0zld5z 59 4 due due JJ cord-035342-sf0zld5z 59 5 to to IN cord-035342-sf0zld5z 59 6 the the DT cord-035342-sf0zld5z 59 7 method method NN cord-035342-sf0zld5z 59 8 of of IN cord-035342-sf0zld5z 59 9 literature literature NN cord-035342-sf0zld5z 59 10 selection selection NN cord-035342-sf0zld5z 59 11 and and CC cord-035342-sf0zld5z 59 12 partly partly RB cord-035342-sf0zld5z 59 13 based base VBN cord-035342-sf0zld5z 59 14 on on IN cord-035342-sf0zld5z 59 15 the the DT cord-035342-sf0zld5z 59 16 fact fact NN cord-035342-sf0zld5z 59 17 that that IN cord-035342-sf0zld5z 59 18 mainly mainly RB cord-035342-sf0zld5z 59 19 studies study VBZ cord-035342-sf0zld5z 59 20 explicitly explicitly RB cord-035342-sf0zld5z 59 21 elaborating elaborate VBG cord-035342-sf0zld5z 59 22 home home NN cord-035342-sf0zld5z 59 23 bias bias NN cord-035342-sf0zld5z 59 24 are be VBP cord-035342-sf0zld5z 59 25 included include VBN cord-035342-sf0zld5z 59 26 in in IN cord-035342-sf0zld5z 59 27 this this DT cord-035342-sf0zld5z 59 28 review review NN cord-035342-sf0zld5z 59 29 . . . cord-035342-sf0zld5z 60 1 Second second RB cord-035342-sf0zld5z 60 2 , , , cord-035342-sf0zld5z 60 3 the the DT cord-035342-sf0zld5z 60 4 approach approach NN cord-035342-sf0zld5z 60 5 of of IN cord-035342-sf0zld5z 60 6 this this DT cord-035342-sf0zld5z 60 7 review review NN cord-035342-sf0zld5z 60 8 is be VBZ cord-035342-sf0zld5z 60 9 more more RBR cord-035342-sf0zld5z 60 10 comprehensive comprehensive JJ cord-035342-sf0zld5z 60 11 and and CC cord-035342-sf0zld5z 60 12 grasps grasp VBZ cord-035342-sf0zld5z 60 13 the the DT cord-035342-sf0zld5z 60 14 broad broad JJ cord-035342-sf0zld5z 60 15 picture picture NN cord-035342-sf0zld5z 60 16 of of IN cord-035342-sf0zld5z 60 17 home home NN cord-035342-sf0zld5z 60 18 bias bias NN cord-035342-sf0zld5z 60 19 , , , cord-035342-sf0zld5z 60 20 especially especially RB cord-035342-sf0zld5z 60 21 referring refer VBG cord-035342-sf0zld5z 60 22 to to IN cord-035342-sf0zld5z 60 23 Ardalan Ardalan NNP cord-035342-sf0zld5z 60 24 ( ( -LRB- cord-035342-sf0zld5z 60 25 2019 2019 CD cord-035342-sf0zld5z 60 26 ) ) -RRB- cord-035342-sf0zld5z 60 27 . . . cord-035342-sf0zld5z 61 1 Whereas whereas IN cord-035342-sf0zld5z 61 2 Ardalan Ardalan NNP cord-035342-sf0zld5z 61 3 ( ( -LRB- cord-035342-sf0zld5z 61 4 2019 2019 CD cord-035342-sf0zld5z 61 5 ) ) -RRB- cord-035342-sf0zld5z 61 6 exclusively exclusively RB cord-035342-sf0zld5z 61 7 reviews review VBZ cord-035342-sf0zld5z 61 8 the the DT cord-035342-sf0zld5z 61 9 reasons reason NNS cord-035342-sf0zld5z 61 10 of of IN cord-035342-sf0zld5z 61 11 home home NN cord-035342-sf0zld5z 61 12 bias bias NN cord-035342-sf0zld5z 61 13 encyclopaedically encyclopaedically NN cord-035342-sf0zld5z 61 14 , , , cord-035342-sf0zld5z 61 15 this this DT cord-035342-sf0zld5z 61 16 paper paper NN cord-035342-sf0zld5z 61 17 reviews review VBZ cord-035342-sf0zld5z 61 18 various various JJ cord-035342-sf0zld5z 61 19 measurements measurement NNS cord-035342-sf0zld5z 61 20 , , , cord-035342-sf0zld5z 61 21 the the DT cord-035342-sf0zld5z 61 22 reasons reason NNS cord-035342-sf0zld5z 61 23 and and CC cord-035342-sf0zld5z 61 24 implications implication NNS cord-035342-sf0zld5z 61 25 of of IN cord-035342-sf0zld5z 61 26 home home NN cord-035342-sf0zld5z 61 27 bias bias NN cord-035342-sf0zld5z 61 28 . . . cord-035342-sf0zld5z 62 1 On on IN cord-035342-sf0zld5z 62 2 top top NN cord-035342-sf0zld5z 62 3 of of IN cord-035342-sf0zld5z 62 4 that that DT cord-035342-sf0zld5z 62 5 , , , cord-035342-sf0zld5z 62 6 the the DT cord-035342-sf0zld5z 62 7 study study NN cord-035342-sf0zld5z 62 8 differentiates differentiate VBZ cord-035342-sf0zld5z 62 9 between between IN cord-035342-sf0zld5z 62 10 home home NN cord-035342-sf0zld5z 62 11 bias bias NN cord-035342-sf0zld5z 62 12 and and CC cord-035342-sf0zld5z 62 13 local local JJ cord-035342-sf0zld5z 62 14 bias bias NN cord-035342-sf0zld5z 62 15 and and CC cord-035342-sf0zld5z 62 16 simultaneously simultaneously RB cord-035342-sf0zld5z 62 17 integrates integrate VBZ cord-035342-sf0zld5z 62 18 both both DT cord-035342-sf0zld5z 62 19 . . . cord-035342-sf0zld5z 63 1 The the DT cord-035342-sf0zld5z 63 2 paper paper NN cord-035342-sf0zld5z 63 3 is be VBZ cord-035342-sf0zld5z 63 4 structured structure VBN cord-035342-sf0zld5z 63 5 as as IN cord-035342-sf0zld5z 63 6 follows follow VBZ cord-035342-sf0zld5z 63 7 . . . cord-035342-sf0zld5z 64 1 First first RB cord-035342-sf0zld5z 64 2 , , , cord-035342-sf0zld5z 64 3 in in IN cord-035342-sf0zld5z 64 4 Sect Sect NNP cord-035342-sf0zld5z 64 5 . . . cord-035342-sf0zld5z 65 1 2 2 LS cord-035342-sf0zld5z 65 2 the the DT cord-035342-sf0zld5z 65 3 methodical methodical JJ cord-035342-sf0zld5z 65 4 approach approach NN cord-035342-sf0zld5z 65 5 will will MD cord-035342-sf0zld5z 65 6 be be VB cord-035342-sf0zld5z 65 7 explained explain VBN cord-035342-sf0zld5z 65 8 and and CC cord-035342-sf0zld5z 65 9 how how WRB cord-035342-sf0zld5z 65 10 relevant relevant JJ cord-035342-sf0zld5z 65 11 literature literature NN cord-035342-sf0zld5z 65 12 has have VBZ cord-035342-sf0zld5z 65 13 been be VBN cord-035342-sf0zld5z 65 14 found find VBN cord-035342-sf0zld5z 65 15 and and CC cord-035342-sf0zld5z 65 16 evaluated evaluate VBN cord-035342-sf0zld5z 65 17 . . . cord-035342-sf0zld5z 66 1 Section section NN cord-035342-sf0zld5z 66 2 3 3 CD cord-035342-sf0zld5z 66 3 deals deal NNS cord-035342-sf0zld5z 66 4 with with IN cord-035342-sf0zld5z 66 5 the the DT cord-035342-sf0zld5z 66 6 precise precise JJ cord-035342-sf0zld5z 66 7 definition definition NN cord-035342-sf0zld5z 66 8 of of IN cord-035342-sf0zld5z 66 9 home home NN cord-035342-sf0zld5z 66 10 and and CC cord-035342-sf0zld5z 66 11 local local JJ cord-035342-sf0zld5z 66 12 bias bias NN cord-035342-sf0zld5z 66 13 . . . cord-035342-sf0zld5z 67 1 Section section NN cord-035342-sf0zld5z 67 2 4 4 CD cord-035342-sf0zld5z 67 3 gives give VBZ cord-035342-sf0zld5z 67 4 empirical empirical JJ cord-035342-sf0zld5z 67 5 evidence evidence NN cord-035342-sf0zld5z 67 6 on on IN cord-035342-sf0zld5z 67 7 both both CC cord-035342-sf0zld5z 67 8 the the DT cord-035342-sf0zld5z 67 9 existence existence NN cord-035342-sf0zld5z 67 10 and and CC cord-035342-sf0zld5z 67 11 the the DT cord-035342-sf0zld5z 67 12 degree degree NN cord-035342-sf0zld5z 67 13 of of IN cord-035342-sf0zld5z 67 14 the the DT cord-035342-sf0zld5z 67 15 home home NN cord-035342-sf0zld5z 67 16 bias bias NN cord-035342-sf0zld5z 67 17 for for IN cord-035342-sf0zld5z 67 18 numerous numerous JJ cord-035342-sf0zld5z 67 19 countries country NNS cord-035342-sf0zld5z 67 20 addressing address VBG cord-035342-sf0zld5z 67 21 the the DT cord-035342-sf0zld5z 67 22 first first JJ cord-035342-sf0zld5z 67 23 research research NN cord-035342-sf0zld5z 67 24 question question NN cord-035342-sf0zld5z 67 25 . . . cord-035342-sf0zld5z 68 1 Section section NN cord-035342-sf0zld5z 68 2 5 5 CD cord-035342-sf0zld5z 68 3 constitutes constitute VBZ cord-035342-sf0zld5z 68 4 the the DT cord-035342-sf0zld5z 68 5 main main JJ cord-035342-sf0zld5z 68 6 body body NN cord-035342-sf0zld5z 68 7 of of IN cord-035342-sf0zld5z 68 8 the the DT cord-035342-sf0zld5z 68 9 review review NN cord-035342-sf0zld5z 68 10 and and CC cord-035342-sf0zld5z 68 11 works work VBZ cord-035342-sf0zld5z 68 12 out out RP cord-035342-sf0zld5z 68 13 reasons reason NNS cord-035342-sf0zld5z 68 14 for for IN cord-035342-sf0zld5z 68 15 and and CC cord-035342-sf0zld5z 68 16 consequences consequence NNS cord-035342-sf0zld5z 68 17 of of IN cord-035342-sf0zld5z 68 18 the the DT cord-035342-sf0zld5z 68 19 home home NN cord-035342-sf0zld5z 68 20 and and CC cord-035342-sf0zld5z 68 21 local local JJ cord-035342-sf0zld5z 68 22 bias bias NN cord-035342-sf0zld5z 68 23 , , , cord-035342-sf0zld5z 68 24 divided divide VBN cord-035342-sf0zld5z 68 25 into into IN cord-035342-sf0zld5z 68 26 institutional institutional JJ cord-035342-sf0zld5z 68 27 , , , cord-035342-sf0zld5z 68 28 informational informational JJ cord-035342-sf0zld5z 68 29 and and CC cord-035342-sf0zld5z 68 30 behavioural behavioural JJ cord-035342-sf0zld5z 68 31 reasons reason NNS cord-035342-sf0zld5z 68 32 and and CC cord-035342-sf0zld5z 68 33 thereby thereby RB cord-035342-sf0zld5z 68 34 addressing address VBG cord-035342-sf0zld5z 68 35 the the DT cord-035342-sf0zld5z 68 36 second second JJ cord-035342-sf0zld5z 68 37 research research NN cord-035342-sf0zld5z 68 38 question question NN cord-035342-sf0zld5z 68 39 . . . cord-035342-sf0zld5z 69 1 In in IN cord-035342-sf0zld5z 69 2 addition addition NN cord-035342-sf0zld5z 69 3 , , , cord-035342-sf0zld5z 69 4 the the DT cord-035342-sf0zld5z 69 5 implications implication NNS cord-035342-sf0zld5z 69 6 of of IN cord-035342-sf0zld5z 69 7 home home NN cord-035342-sf0zld5z 69 8 and and CC cord-035342-sf0zld5z 69 9 local local JJ cord-035342-sf0zld5z 69 10 bias bias NN cord-035342-sf0zld5z 69 11 , , , cord-035342-sf0zld5z 69 12 especially especially RB cord-035342-sf0zld5z 69 13 on on IN cord-035342-sf0zld5z 69 14 portfolio portfolio NN cord-035342-sf0zld5z 69 15 performance performance NN cord-035342-sf0zld5z 69 16 , , , cord-035342-sf0zld5z 69 17 are be VBP cord-035342-sf0zld5z 69 18 presented present VBN cord-035342-sf0zld5z 69 19 in in IN cord-035342-sf0zld5z 69 20 Sect Sect NNP cord-035342-sf0zld5z 69 21 . . . cord-035342-sf0zld5z 70 1 6 6 LS cord-035342-sf0zld5z 70 2 . . . cord-035342-sf0zld5z 71 1 Section section NN cord-035342-sf0zld5z 71 2 7 7 CD cord-035342-sf0zld5z 71 3 summarizes summarize VBZ cord-035342-sf0zld5z 71 4 the the DT cord-035342-sf0zld5z 71 5 findings finding NNS cord-035342-sf0zld5z 71 6 and and CC cord-035342-sf0zld5z 71 7 provides provide VBZ cord-035342-sf0zld5z 71 8 avenues avenue NNS cord-035342-sf0zld5z 71 9 for for IN cord-035342-sf0zld5z 71 10 future future JJ cord-035342-sf0zld5z 71 11 research research NN cord-035342-sf0zld5z 71 12 . . . cord-035342-sf0zld5z 72 1 The the DT cord-035342-sf0zld5z 72 2 search search NN cord-035342-sf0zld5z 72 3 request request NN cord-035342-sf0zld5z 72 4 started start VBD cord-035342-sf0zld5z 72 5 with with IN cord-035342-sf0zld5z 72 6 the the DT cord-035342-sf0zld5z 72 7 identification identification NN cord-035342-sf0zld5z 72 8 of of IN cord-035342-sf0zld5z 72 9 the the DT cord-035342-sf0zld5z 72 10 relevant relevant JJ cord-035342-sf0zld5z 72 11 keywords keyword NNS cord-035342-sf0zld5z 72 12 . . . cord-035342-sf0zld5z 73 1 Although although IN cord-035342-sf0zld5z 73 2 the the DT cord-035342-sf0zld5z 73 3 basic basic JJ cord-035342-sf0zld5z 73 4 puzzle puzzle NN cord-035342-sf0zld5z 73 5 is be VBZ cord-035342-sf0zld5z 73 6 called call VBN cord-035342-sf0zld5z 73 7 home home NN cord-035342-sf0zld5z 73 8 bias bias NN cord-035342-sf0zld5z 73 9 equity equity NN cord-035342-sf0zld5z 73 10 puzzle puzzle NN cord-035342-sf0zld5z 73 11 , , , cord-035342-sf0zld5z 73 12 it -PRON- PRP cord-035342-sf0zld5z 73 13 is be VBZ cord-035342-sf0zld5z 73 14 expected expect VBN cord-035342-sf0zld5z 73 15 that that IN cord-035342-sf0zld5z 73 16 merely merely RB cord-035342-sf0zld5z 73 17 the the DT cord-035342-sf0zld5z 73 18 notion notion JJ cord-035342-sf0zld5z 73 19 home home NN cord-035342-sf0zld5z 73 20 bias bias NN cord-035342-sf0zld5z 73 21 is be VBZ cord-035342-sf0zld5z 73 22 being be VBG cord-035342-sf0zld5z 73 23 used use VBN cord-035342-sf0zld5z 73 24 in in IN cord-035342-sf0zld5z 73 25 most most JJS cord-035342-sf0zld5z 73 26 of of IN cord-035342-sf0zld5z 73 27 the the DT cord-035342-sf0zld5z 73 28 relevant relevant JJ cord-035342-sf0zld5z 73 29 research research NN cord-035342-sf0zld5z 73 30 articles article NNS cord-035342-sf0zld5z 73 31 . . . cord-035342-sf0zld5z 74 1 Besides besides RB cord-035342-sf0zld5z 74 2 , , , cord-035342-sf0zld5z 74 3 there there EX cord-035342-sf0zld5z 74 4 may may MD cord-035342-sf0zld5z 74 5 be be VB cord-035342-sf0zld5z 74 6 several several JJ cord-035342-sf0zld5z 74 7 synonyms synonyms NN cord-035342-sf0zld5z 74 8 like like IN cord-035342-sf0zld5z 74 9 local local JJ cord-035342-sf0zld5z 74 10 bias bias NN cord-035342-sf0zld5z 74 11 or or CC cord-035342-sf0zld5z 74 12 domestic domestic JJ cord-035342-sf0zld5z 74 13 bias bias NN cord-035342-sf0zld5z 74 14 . . . cord-035342-sf0zld5z 75 1 These these DT cord-035342-sf0zld5z 75 2 similar similar JJ cord-035342-sf0zld5z 75 3 terms term NNS cord-035342-sf0zld5z 75 4 are be VBP cord-035342-sf0zld5z 75 5 also also RB cord-035342-sf0zld5z 75 6 used use VBN cord-035342-sf0zld5z 75 7 for for IN cord-035342-sf0zld5z 75 8 search search NN cord-035342-sf0zld5z 75 9 requests request NNS cord-035342-sf0zld5z 75 10 . . . cord-035342-sf0zld5z 76 1 In in IN cord-035342-sf0zld5z 76 2 a a DT cord-035342-sf0zld5z 76 3 second second JJ cord-035342-sf0zld5z 76 4 step step NN cord-035342-sf0zld5z 76 5 , , , cord-035342-sf0zld5z 76 6 the the DT cord-035342-sf0zld5z 76 7 search search NN cord-035342-sf0zld5z 76 8 is be VBZ cord-035342-sf0zld5z 76 9 divided divide VBN cord-035342-sf0zld5z 76 10 into into IN cord-035342-sf0zld5z 76 11 advanced advanced JJ cord-035342-sf0zld5z 76 12 ( ( -LRB- cord-035342-sf0zld5z 76 13 title title NN cord-035342-sf0zld5z 76 14 , , , cord-035342-sf0zld5z 76 15 abstract abstract JJ cord-035342-sf0zld5z 76 16 ) ) -RRB- cord-035342-sf0zld5z 76 17 search search NN cord-035342-sf0zld5z 76 18 and and CC cord-035342-sf0zld5z 76 19 simple simple JJ cord-035342-sf0zld5z 76 20 full full JJ cord-035342-sf0zld5z 76 21 - - HYPH cord-035342-sf0zld5z 76 22 text text NN cord-035342-sf0zld5z 76 23 - - HYPH cord-035342-sf0zld5z 76 24 search search NN cord-035342-sf0zld5z 76 25 . . . cord-035342-sf0zld5z 77 1 In in IN cord-035342-sf0zld5z 77 2 this this DT cord-035342-sf0zld5z 77 3 review review NN cord-035342-sf0zld5z 77 4 , , , cord-035342-sf0zld5z 77 5 concerning concern VBG cord-035342-sf0zld5z 77 6 the the DT cord-035342-sf0zld5z 77 7 considered consider VBN cord-035342-sf0zld5z 77 8 media media NN cord-035342-sf0zld5z 77 9 type type NN cord-035342-sf0zld5z 77 10 the the DT cord-035342-sf0zld5z 77 11 focal focal JJ cord-035342-sf0zld5z 77 12 point point NN cord-035342-sf0zld5z 77 13 will will MD cord-035342-sf0zld5z 77 14 be be VB cord-035342-sf0zld5z 77 15 on on IN cord-035342-sf0zld5z 77 16 highly highly RB cord-035342-sf0zld5z 77 17 recommended recommend VBN cord-035342-sf0zld5z 77 18 journals journal NNS cord-035342-sf0zld5z 77 19 in in IN cord-035342-sf0zld5z 77 20 order order NN cord-035342-sf0zld5z 77 21 to to TO cord-035342-sf0zld5z 77 22 concentrate concentrate VB cord-035342-sf0zld5z 77 23 on on IN cord-035342-sf0zld5z 77 24 the the DT cord-035342-sf0zld5z 77 25 most most RBS cord-035342-sf0zld5z 77 26 qualified qualified JJ cord-035342-sf0zld5z 77 27 results result NNS cord-035342-sf0zld5z 77 28 for for IN cord-035342-sf0zld5z 77 29 the the DT cord-035342-sf0zld5z 77 30 two two CD cord-035342-sf0zld5z 77 31 research research NN cord-035342-sf0zld5z 77 32 questions question NNS cord-035342-sf0zld5z 77 33 . . . cord-035342-sf0zld5z 78 1 1 1 LS cord-035342-sf0zld5z 79 1 Besides besides IN cord-035342-sf0zld5z 79 2 the the DT cord-035342-sf0zld5z 79 3 standard standard JJ cord-035342-sf0zld5z 79 4 library library NN cord-035342-sf0zld5z 79 5 catalogue catalogue NN cord-035342-sf0zld5z 79 6 , , , cord-035342-sf0zld5z 79 7 Google Google NNP cord-035342-sf0zld5z 79 8 Scholar Scholar NNP cord-035342-sf0zld5z 79 9 is be VBZ cord-035342-sf0zld5z 79 10 used use VBN cord-035342-sf0zld5z 79 11 as as IN cord-035342-sf0zld5z 79 12 source source NN cord-035342-sf0zld5z 79 13 . . . cord-035342-sf0zld5z 80 1 The the DT cord-035342-sf0zld5z 80 2 decision decision NN cord-035342-sf0zld5z 80 3 falls fall VBZ cord-035342-sf0zld5z 80 4 on on IN cord-035342-sf0zld5z 80 5 Google Google NNP cord-035342-sf0zld5z 80 6 Scholar Scholar NNP cord-035342-sf0zld5z 80 7 as as IN cord-035342-sf0zld5z 80 8 it -PRON- PRP cord-035342-sf0zld5z 80 9 offers offer VBZ cord-035342-sf0zld5z 80 10 a a DT cord-035342-sf0zld5z 80 11 high high JJ cord-035342-sf0zld5z 80 12 number number NN cord-035342-sf0zld5z 80 13 of of IN cord-035342-sf0zld5z 80 14 sources source NNS cord-035342-sf0zld5z 80 15 and and CC cord-035342-sf0zld5z 80 16 the the DT cord-035342-sf0zld5z 80 17 goal goal NN cord-035342-sf0zld5z 80 18 of of IN cord-035342-sf0zld5z 80 19 the the DT cord-035342-sf0zld5z 80 20 review review NN cord-035342-sf0zld5z 80 21 is be VBZ cord-035342-sf0zld5z 80 22 to to TO cord-035342-sf0zld5z 80 23 capture capture VB cord-035342-sf0zld5z 80 24 all all DT cord-035342-sf0zld5z 80 25 studies study NNS cord-035342-sf0zld5z 80 26 on on IN cord-035342-sf0zld5z 80 27 home home NN cord-035342-sf0zld5z 80 28 bias bias NN cord-035342-sf0zld5z 80 29 . . . cord-035342-sf0zld5z 81 1 The the DT cord-035342-sf0zld5z 81 2 results result NNS cord-035342-sf0zld5z 81 3 in in IN cord-035342-sf0zld5z 81 4 this this DT cord-035342-sf0zld5z 81 5 review review NN cord-035342-sf0zld5z 81 6 would would MD cord-035342-sf0zld5z 81 7 not not RB cord-035342-sf0zld5z 81 8 change change VB cord-035342-sf0zld5z 81 9 significantly significantly RB cord-035342-sf0zld5z 81 10 using use VBG cord-035342-sf0zld5z 81 11 another another DT cord-035342-sf0zld5z 81 12 bibliometric bibliometric JJ cord-035342-sf0zld5z 81 13 database database NN cord-035342-sf0zld5z 81 14 . . . cord-035342-sf0zld5z 82 1 The the DT cord-035342-sf0zld5z 82 2 titles title NNS cord-035342-sf0zld5z 82 3 of of IN cord-035342-sf0zld5z 82 4 all all DT cord-035342-sf0zld5z 82 5 identified identify VBN cord-035342-sf0zld5z 82 6 articles article NNS cord-035342-sf0zld5z 82 7 are be VBP cord-035342-sf0zld5z 82 8 scanned scan VBN cord-035342-sf0zld5z 82 9 . . . cord-035342-sf0zld5z 83 1 However however RB cord-035342-sf0zld5z 83 2 , , , cord-035342-sf0zld5z 83 3 the the DT cord-035342-sf0zld5z 83 4 findings finding NNS cord-035342-sf0zld5z 83 5 obtained obtain VBN cord-035342-sf0zld5z 83 6 by by IN cord-035342-sf0zld5z 83 7 the the DT cord-035342-sf0zld5z 83 8 advanced advanced JJ cord-035342-sf0zld5z 83 9 search search NN cord-035342-sf0zld5z 83 10 are be VBP cord-035342-sf0zld5z 83 11 subject subject JJ cord-035342-sf0zld5z 83 12 to to IN cord-035342-sf0zld5z 83 13 a a DT cord-035342-sf0zld5z 83 14 more more RBR cord-035342-sf0zld5z 83 15 thorough thorough JJ cord-035342-sf0zld5z 83 16 analysis analysis NN cord-035342-sf0zld5z 83 17 . . . cord-035342-sf0zld5z 84 1 Nearly nearly RB cord-035342-sf0zld5z 84 2 all all DT cord-035342-sf0zld5z 84 3 of of IN cord-035342-sf0zld5z 84 4 these these DT cord-035342-sf0zld5z 84 5 are be VBP cord-035342-sf0zld5z 84 6 significant significant JJ cord-035342-sf0zld5z 84 7 to to IN cord-035342-sf0zld5z 84 8 the the DT cord-035342-sf0zld5z 84 9 researched research VBN cord-035342-sf0zld5z 84 10 topic topic NN cord-035342-sf0zld5z 84 11 and and CC cord-035342-sf0zld5z 84 12 are be VBP cord-035342-sf0zld5z 84 13 included include VBN cord-035342-sf0zld5z 84 14 in in IN cord-035342-sf0zld5z 84 15 this this DT cord-035342-sf0zld5z 84 16 review review NN cord-035342-sf0zld5z 84 17 . . . cord-035342-sf0zld5z 85 1 The the DT cord-035342-sf0zld5z 85 2 number number NN cord-035342-sf0zld5z 85 3 of of IN cord-035342-sf0zld5z 85 4 results result NNS cord-035342-sf0zld5z 85 5 in in IN cord-035342-sf0zld5z 85 6 Google Google NNP cord-035342-sf0zld5z 85 7 Scholar Scholar NNP cord-035342-sf0zld5z 85 8 reinforces reinforce VBZ cord-035342-sf0zld5z 85 9 that that IN cord-035342-sf0zld5z 85 10 the the DT cord-035342-sf0zld5z 85 11 home home NN cord-035342-sf0zld5z 85 12 bias bias NN cord-035342-sf0zld5z 85 13 is be VBZ cord-035342-sf0zld5z 85 14 a a DT cord-035342-sf0zld5z 85 15 broadly broadly RB cord-035342-sf0zld5z 85 16 discussed discuss VBN cord-035342-sf0zld5z 85 17 topic topic NN cord-035342-sf0zld5z 85 18 in in IN cord-035342-sf0zld5z 85 19 finance finance NN cord-035342-sf0zld5z 85 20 ; ; : cord-035342-sf0zld5z 85 21 just just RB cord-035342-sf0zld5z 85 22 the the DT cord-035342-sf0zld5z 85 23 advanced advanced JJ cord-035342-sf0zld5z 85 24 search search NN cord-035342-sf0zld5z 85 25 findings finding NNS cord-035342-sf0zld5z 85 26 and and CC cord-035342-sf0zld5z 85 27 not not RB cord-035342-sf0zld5z 85 28 all all DT cord-035342-sf0zld5z 85 29 of of IN cord-035342-sf0zld5z 85 30 the the DT cord-035342-sf0zld5z 85 31 full full JJ cord-035342-sf0zld5z 85 32 - - HYPH cord-035342-sf0zld5z 85 33 text text NN cord-035342-sf0zld5z 85 34 findings finding NNS cord-035342-sf0zld5z 85 35 with with IN cord-035342-sf0zld5z 85 36 Google Google NNP cord-035342-sf0zld5z 85 37 Scholar Scholar NNP cord-035342-sf0zld5z 85 38 are be VBP cord-035342-sf0zld5z 85 39 scanned scan VBN cord-035342-sf0zld5z 85 40 for for IN cord-035342-sf0zld5z 85 41 relevance relevance NN cord-035342-sf0zld5z 85 42 . . . cord-035342-sf0zld5z 86 1 Apart apart RB cord-035342-sf0zld5z 86 2 from from IN cord-035342-sf0zld5z 86 3 actively actively RB cord-035342-sf0zld5z 86 4 conducting conduct VBG cord-035342-sf0zld5z 86 5 search search NN cord-035342-sf0zld5z 86 6 requests request NNS cord-035342-sf0zld5z 86 7 , , , cord-035342-sf0zld5z 86 8 the the DT cord-035342-sf0zld5z 86 9 references reference NNS cord-035342-sf0zld5z 86 10 and and CC cord-035342-sf0zld5z 86 11 citations citation NNS cord-035342-sf0zld5z 86 12 in in IN cord-035342-sf0zld5z 86 13 the the DT cord-035342-sf0zld5z 86 14 articles article NNS cord-035342-sf0zld5z 86 15 found find VBN cord-035342-sf0zld5z 86 16 by by IN cord-035342-sf0zld5z 86 17 using use VBG cord-035342-sf0zld5z 86 18 the the DT cord-035342-sf0zld5z 86 19 two two CD cord-035342-sf0zld5z 86 20 methods method NNS cord-035342-sf0zld5z 86 21 are be VBP cord-035342-sf0zld5z 86 22 analysed analyse VBN cord-035342-sf0zld5z 86 23 . . . cord-035342-sf0zld5z 87 1 Relevant relevant JJ cord-035342-sf0zld5z 87 2 papers paper NNS cord-035342-sf0zld5z 87 3 are be VBP cord-035342-sf0zld5z 87 4 drawn draw VBN cord-035342-sf0zld5z 87 5 from from IN cord-035342-sf0zld5z 87 6 the the DT cord-035342-sf0zld5z 87 7 references reference NNS cord-035342-sf0zld5z 87 8 and and CC cord-035342-sf0zld5z 87 9 included include VBN cord-035342-sf0zld5z 87 10 in in IN cord-035342-sf0zld5z 87 11 the the DT cord-035342-sf0zld5z 87 12 review review NN cord-035342-sf0zld5z 87 13 . . . cord-035342-sf0zld5z 88 1 This this DT cord-035342-sf0zld5z 88 2 process process NN cord-035342-sf0zld5z 88 3 may may MD cord-035342-sf0zld5z 88 4 be be VB cord-035342-sf0zld5z 88 5 repeated repeat VBN cord-035342-sf0zld5z 88 6 several several JJ cord-035342-sf0zld5z 88 7 times time NNS cord-035342-sf0zld5z 88 8 . . . cord-035342-sf0zld5z 89 1 Note note VB cord-035342-sf0zld5z 89 2 , , , cord-035342-sf0zld5z 89 3 that that IN cord-035342-sf0zld5z 89 4 the the DT cord-035342-sf0zld5z 89 5 quality quality NN cord-035342-sf0zld5z 89 6 of of IN cord-035342-sf0zld5z 89 7 every every DT cord-035342-sf0zld5z 89 8 identified identify VBN cord-035342-sf0zld5z 89 9 paper paper NN cord-035342-sf0zld5z 89 10 is be VBZ cord-035342-sf0zld5z 89 11 evaluated evaluate VBN cord-035342-sf0zld5z 89 12 . . . cord-035342-sf0zld5z 90 1 If if IN cord-035342-sf0zld5z 90 2 the the DT cord-035342-sf0zld5z 90 3 paper paper NN cord-035342-sf0zld5z 90 4 , , , cord-035342-sf0zld5z 90 5 respectively respectively RB cord-035342-sf0zld5z 90 6 the the DT cord-035342-sf0zld5z 90 7 correspondent correspondent NN cord-035342-sf0zld5z 90 8 journal journal NN cord-035342-sf0zld5z 90 9 , , , cord-035342-sf0zld5z 90 10 has have VBZ cord-035342-sf0zld5z 90 11 a a DT cord-035342-sf0zld5z 90 12 poor poor JJ cord-035342-sf0zld5z 90 13 ranking ranking NN cord-035342-sf0zld5z 90 14 , , , cord-035342-sf0zld5z 90 15 it -PRON- PRP cord-035342-sf0zld5z 90 16 will will MD cord-035342-sf0zld5z 90 17 not not RB cord-035342-sf0zld5z 90 18 be be VB cord-035342-sf0zld5z 90 19 included include VBN cord-035342-sf0zld5z 90 20 in in IN cord-035342-sf0zld5z 90 21 this this DT cord-035342-sf0zld5z 90 22 review review NN cord-035342-sf0zld5z 90 23 . . . cord-035342-sf0zld5z 91 1 This this DT cord-035342-sf0zld5z 91 2 cross cross NN cord-035342-sf0zld5z 91 3 - - JJ cord-035342-sf0zld5z 91 4 reference reference NN cord-035342-sf0zld5z 91 5 method method NN cord-035342-sf0zld5z 91 6 is be VBZ cord-035342-sf0zld5z 91 7 one one CD cord-035342-sf0zld5z 91 8 of of IN cord-035342-sf0zld5z 91 9 the the DT cord-035342-sf0zld5z 91 10 most most RBS cord-035342-sf0zld5z 91 11 promising promising JJ cord-035342-sf0zld5z 91 12 ones one NNS cord-035342-sf0zld5z 91 13 in in IN cord-035342-sf0zld5z 91 14 order order NN cord-035342-sf0zld5z 91 15 to to TO cord-035342-sf0zld5z 91 16 find find VB cord-035342-sf0zld5z 91 17 further further JJ cord-035342-sf0zld5z 91 18 articles article NNS cord-035342-sf0zld5z 91 19 related relate VBN cord-035342-sf0zld5z 91 20 to to IN cord-035342-sf0zld5z 91 21 the the DT cord-035342-sf0zld5z 91 22 topic topic NN cord-035342-sf0zld5z 91 23 . . . cord-035342-sf0zld5z 92 1 Table table NN cord-035342-sf0zld5z 92 2 3 3 CD cord-035342-sf0zld5z 92 3 in in IN cord-035342-sf0zld5z 92 4 the the DT cord-035342-sf0zld5z 92 5 appendix appendix NN cord-035342-sf0zld5z 92 6 gives give VBZ cord-035342-sf0zld5z 92 7 an an DT cord-035342-sf0zld5z 92 8 overview overview NN cord-035342-sf0zld5z 92 9 about about IN cord-035342-sf0zld5z 92 10 the the DT cord-035342-sf0zld5z 92 11 results result NNS cord-035342-sf0zld5z 92 12 of of IN cord-035342-sf0zld5z 92 13 the the DT cord-035342-sf0zld5z 92 14 home home NN cord-035342-sf0zld5z 92 15 bias bias NN cord-035342-sf0zld5z 92 16 search search NN cord-035342-sf0zld5z 92 17 per per IN cord-035342-sf0zld5z 92 18 journal journal NN cord-035342-sf0zld5z 92 19 and and CC cord-035342-sf0zld5z 92 20 database database NN cord-035342-sf0zld5z 92 21 . . . cord-035342-sf0zld5z 93 1 Following follow VBG cord-035342-sf0zld5z 93 2 the the DT cord-035342-sf0zld5z 93 3 advice advice NN cord-035342-sf0zld5z 93 4 of of IN cord-035342-sf0zld5z 93 5 Fisch Fisch NNP cord-035342-sf0zld5z 93 6 and and CC cord-035342-sf0zld5z 93 7 Block Block NNP cord-035342-sf0zld5z 93 8 ( ( -LRB- cord-035342-sf0zld5z 93 9 2018 2018 CD cord-035342-sf0zld5z 93 10 ) ) -RRB- cord-035342-sf0zld5z 93 11 that that IN cord-035342-sf0zld5z 93 12 the the DT cord-035342-sf0zld5z 93 13 screening screening NN cord-035342-sf0zld5z 93 14 criteria criterion NNS cord-035342-sf0zld5z 93 15 can can MD cord-035342-sf0zld5z 93 16 have have VB cord-035342-sf0zld5z 93 17 crucial crucial JJ cord-035342-sf0zld5z 93 18 implications implication NNS cord-035342-sf0zld5z 93 19 for for IN cord-035342-sf0zld5z 93 20 the the DT cord-035342-sf0zld5z 93 21 results result NNS cord-035342-sf0zld5z 93 22 , , , cord-035342-sf0zld5z 93 23 this this DT cord-035342-sf0zld5z 93 24 review review NN cord-035342-sf0zld5z 93 25 solely solely RB cord-035342-sf0zld5z 93 26 concentrates concentrate VBZ cord-035342-sf0zld5z 93 27 on on IN cord-035342-sf0zld5z 93 28 articles article NNS cord-035342-sf0zld5z 93 29 published publish VBN cord-035342-sf0zld5z 93 30 in in IN cord-035342-sf0zld5z 93 31 high high JJ cord-035342-sf0zld5z 93 32 quality quality NN cord-035342-sf0zld5z 93 33 journals journal NNS cord-035342-sf0zld5z 93 34 . . . cord-035342-sf0zld5z 94 1 All all DT cord-035342-sf0zld5z 94 2 types type NNS cord-035342-sf0zld5z 94 3 of of IN cord-035342-sf0zld5z 94 4 grey grey JJ cord-035342-sf0zld5z 94 5 literature literature NN cord-035342-sf0zld5z 94 6 like like IN cord-035342-sf0zld5z 94 7 working working NN cord-035342-sf0zld5z 94 8 papers paper NNS cord-035342-sf0zld5z 94 9 and and CC cord-035342-sf0zld5z 94 10 discussion discussion NN cord-035342-sf0zld5z 94 11 papers paper NNS cord-035342-sf0zld5z 94 12 are be VBP cord-035342-sf0zld5z 94 13 not not RB cord-035342-sf0zld5z 94 14 incorporated incorporate VBN cord-035342-sf0zld5z 94 15 . . . cord-035342-sf0zld5z 95 1 The the DT cord-035342-sf0zld5z 95 2 evaluation evaluation NN cord-035342-sf0zld5z 95 3 and and CC cord-035342-sf0zld5z 95 4 the the DT cord-035342-sf0zld5z 95 5 selection selection NN cord-035342-sf0zld5z 95 6 process process NN cord-035342-sf0zld5z 95 7 is be VBZ cord-035342-sf0zld5z 95 8 conducted conduct VBN cord-035342-sf0zld5z 95 9 as as IN cord-035342-sf0zld5z 95 10 a a DT cord-035342-sf0zld5z 95 11 combination combination NN cord-035342-sf0zld5z 95 12 of of IN cord-035342-sf0zld5z 95 13 objective objective JJ cord-035342-sf0zld5z 95 14 and and CC cord-035342-sf0zld5z 95 15 subjective subjective JJ cord-035342-sf0zld5z 95 16 methods method NNS cord-035342-sf0zld5z 95 17 . . . cord-035342-sf0zld5z 96 1 The the DT cord-035342-sf0zld5z 96 2 VHB VHB NNP cord-035342-sf0zld5z 96 3 - - HYPH cord-035342-sf0zld5z 96 4 ranking rank VBG cord-035342-sf0zld5z 96 5 for for IN cord-035342-sf0zld5z 96 6 a a DT cord-035342-sf0zld5z 96 7 subjective subjective JJ cord-035342-sf0zld5z 96 8 evaluation evaluation NN cord-035342-sf0zld5z 96 9 whereas whereas IN cord-035342-sf0zld5z 96 10 the the DT cord-035342-sf0zld5z 96 11 impact impact NN cord-035342-sf0zld5z 96 12 factors factor NNS cord-035342-sf0zld5z 96 13 constitute constitute VBP cord-035342-sf0zld5z 96 14 the the DT cord-035342-sf0zld5z 96 15 objective objective JJ cord-035342-sf0zld5z 96 16 method method NN cord-035342-sf0zld5z 96 17 . . . cord-035342-sf0zld5z 97 1 The the DT cord-035342-sf0zld5z 97 2 VHB VHB NNP cord-035342-sf0zld5z 97 3 - - HYPH cord-035342-sf0zld5z 97 4 Ranking Ranking NNP cord-035342-sf0zld5z 97 5 is be VBZ cord-035342-sf0zld5z 97 6 made make VBN cord-035342-sf0zld5z 97 7 by by IN cord-035342-sf0zld5z 97 8 skilled skilled JJ cord-035342-sf0zld5z 97 9 and and CC cord-035342-sf0zld5z 97 10 experienced experienced JJ cord-035342-sf0zld5z 97 11 university university NN cord-035342-sf0zld5z 97 12 professors professor NNS cord-035342-sf0zld5z 97 13 who who WP cord-035342-sf0zld5z 97 14 give give VBP cord-035342-sf0zld5z 97 15 their -PRON- PRP$ cord-035342-sf0zld5z 97 16 opinion opinion NN cord-035342-sf0zld5z 97 17 about about IN cord-035342-sf0zld5z 97 18 the the DT cord-035342-sf0zld5z 97 19 quality quality NN cord-035342-sf0zld5z 97 20 of of IN cord-035342-sf0zld5z 97 21 journals journal NNS cord-035342-sf0zld5z 97 22 ( ( -LRB- cord-035342-sf0zld5z 97 23 The the DT cord-035342-sf0zld5z 97 24 ranking ranking NN cord-035342-sf0zld5z 97 25 goes go VBZ cord-035342-sf0zld5z 97 26 from from IN cord-035342-sf0zld5z 97 27 A+ a+ NN cord-035342-sf0zld5z 97 28 for for IN cord-035342-sf0zld5z 97 29 a a DT cord-035342-sf0zld5z 97 30 worldwide worldwide JJ cord-035342-sf0zld5z 97 31 leading leading JJ cord-035342-sf0zld5z 97 32 journal journal NN cord-035342-sf0zld5z 97 33 over over IN cord-035342-sf0zld5z 97 34 A A NNP cord-035342-sf0zld5z 97 35 , , , cord-035342-sf0zld5z 97 36 B b NN cord-035342-sf0zld5z 97 37 and and CC cord-035342-sf0zld5z 97 38 C c NN cord-035342-sf0zld5z 97 39 to to IN cord-035342-sf0zld5z 97 40 D D NNP cord-035342-sf0zld5z 97 41 ) ) -RRB- cord-035342-sf0zld5z 97 42 . . . cord-035342-sf0zld5z 98 1 Even even RB cord-035342-sf0zld5z 98 2 though though IN cord-035342-sf0zld5z 98 3 this this DT cord-035342-sf0zld5z 98 4 seems seem VBZ cord-035342-sf0zld5z 98 5 to to TO cord-035342-sf0zld5z 98 6 be be VB cord-035342-sf0zld5z 98 7 and and CC cord-035342-sf0zld5z 98 8 even even RB cord-035342-sf0zld5z 98 9 is be VBZ cord-035342-sf0zld5z 98 10 a a DT cord-035342-sf0zld5z 98 11 subjective subjective JJ cord-035342-sf0zld5z 98 12 2 2 CD cord-035342-sf0zld5z 98 13 judgement judgement NN cord-035342-sf0zld5z 98 14 and and CC cord-035342-sf0zld5z 98 15 ranking ranking NN cord-035342-sf0zld5z 98 16 , , , cord-035342-sf0zld5z 98 17 the the DT cord-035342-sf0zld5z 98 18 VHB VHB NNP cord-035342-sf0zld5z 98 19 - - HYPH cord-035342-sf0zld5z 98 20 ranking ranking NN cord-035342-sf0zld5z 98 21 is be VBZ cord-035342-sf0zld5z 98 22 one one CD cord-035342-sf0zld5z 98 23 of of IN cord-035342-sf0zld5z 98 24 the the DT cord-035342-sf0zld5z 98 25 most most RBS cord-035342-sf0zld5z 98 26 qualified qualified JJ cord-035342-sf0zld5z 98 27 rankings ranking NNS cord-035342-sf0zld5z 98 28 one one PRP cord-035342-sf0zld5z 98 29 can can MD cord-035342-sf0zld5z 98 30 obtain obtain VB cord-035342-sf0zld5z 98 31 for for IN cord-035342-sf0zld5z 98 32 evaluating evaluate VBG cord-035342-sf0zld5z 98 33 the the DT cord-035342-sf0zld5z 98 34 scientific scientific JJ cord-035342-sf0zld5z 98 35 quality quality NN cord-035342-sf0zld5z 98 36 of of IN cord-035342-sf0zld5z 98 37 journals journal NNS cord-035342-sf0zld5z 98 38 . . . cord-035342-sf0zld5z 99 1 First first RB cord-035342-sf0zld5z 99 2 , , , cord-035342-sf0zld5z 99 3 all all DT cord-035342-sf0zld5z 99 4 journals journal NNS cord-035342-sf0zld5z 99 5 are be VBP cord-035342-sf0zld5z 99 6 included include VBN cord-035342-sf0zld5z 99 7 which which WDT cord-035342-sf0zld5z 99 8 are be VBP cord-035342-sf0zld5z 99 9 found find VBN cord-035342-sf0zld5z 99 10 in in IN cord-035342-sf0zld5z 99 11 the the DT cord-035342-sf0zld5z 99 12 VHB VHB NNP cord-035342-sf0zld5z 99 13 - - HYPH cord-035342-sf0zld5z 99 14 ranking ranking NN cord-035342-sf0zld5z 99 15 and and CC cord-035342-sf0zld5z 99 16 not not RB cord-035342-sf0zld5z 99 17 ranked rank VBN cord-035342-sf0zld5z 99 18 below below IN cord-035342-sf0zld5z 99 19 B b NN cord-035342-sf0zld5z 99 20 - - HYPH cord-035342-sf0zld5z 99 21 level level NN cord-035342-sf0zld5z 99 22 . . . cord-035342-sf0zld5z 100 1 Within within IN cord-035342-sf0zld5z 100 2 this this DT cord-035342-sf0zld5z 100 3 range range NN cord-035342-sf0zld5z 100 4 , , , cord-035342-sf0zld5z 100 5 higher high JJR cord-035342-sf0zld5z 100 6 - - HYPH cord-035342-sf0zld5z 100 7 ranked rank VBN cord-035342-sf0zld5z 100 8 journals journal NNS cord-035342-sf0zld5z 100 9 are be VBP cord-035342-sf0zld5z 100 10 preferred prefer VBN cord-035342-sf0zld5z 100 11 over over IN cord-035342-sf0zld5z 100 12 lower lower RBR cord-035342-sf0zld5z 100 13 - - HYPH cord-035342-sf0zld5z 100 14 ranked rank VBN cord-035342-sf0zld5z 100 15 . . . cord-035342-sf0zld5z 101 1 Second second RB cord-035342-sf0zld5z 101 2 , , , cord-035342-sf0zld5z 101 3 two two CD cord-035342-sf0zld5z 101 4 different different JJ cord-035342-sf0zld5z 101 5 impact impact NN cord-035342-sf0zld5z 101 6 factors factor NNS cord-035342-sf0zld5z 101 7 are be VBP cord-035342-sf0zld5z 101 8 used use VBN cord-035342-sf0zld5z 101 9 to to TO cord-035342-sf0zld5z 101 10 evaluate evaluate VB cord-035342-sf0zld5z 101 11 the the DT cord-035342-sf0zld5z 101 12 significance significance NN cord-035342-sf0zld5z 101 13 of of IN cord-035342-sf0zld5z 101 14 journals journal NNS cord-035342-sf0zld5z 101 15 . . . cord-035342-sf0zld5z 102 1 Only only RB cord-035342-sf0zld5z 102 2 if if IN cord-035342-sf0zld5z 102 3 the the DT cord-035342-sf0zld5z 102 4 journal journal NN cord-035342-sf0zld5z 102 5 is be VBZ cord-035342-sf0zld5z 102 6 ranked rank VBN cord-035342-sf0zld5z 102 7 in in IN cord-035342-sf0zld5z 102 8 the the DT cord-035342-sf0zld5z 102 9 upper upper JJ cord-035342-sf0zld5z 102 10 half half NN cord-035342-sf0zld5z 102 11 of of IN cord-035342-sf0zld5z 102 12 both both DT cord-035342-sf0zld5z 102 13 considered consider VBN cord-035342-sf0zld5z 102 14 impact impact NN cord-035342-sf0zld5z 102 15 factor factor NN cord-035342-sf0zld5z 102 16 surveys survey NNS cord-035342-sf0zld5z 102 17 , , , cord-035342-sf0zld5z 102 18 the the DT cord-035342-sf0zld5z 102 19 correspondent correspondent NN cord-035342-sf0zld5z 102 20 article article NN cord-035342-sf0zld5z 102 21 may may MD cord-035342-sf0zld5z 102 22 be be VB cord-035342-sf0zld5z 102 23 included include VBN cord-035342-sf0zld5z 102 24 in in IN cord-035342-sf0zld5z 102 25 this this DT cord-035342-sf0zld5z 102 26 review review NN cord-035342-sf0zld5z 102 27 . . . cord-035342-sf0zld5z 103 1 All all DT cord-035342-sf0zld5z 103 2 other other JJ cord-035342-sf0zld5z 103 3 journals journal NNS cord-035342-sf0zld5z 103 4 and and CC cord-035342-sf0zld5z 103 5 related related JJ cord-035342-sf0zld5z 103 6 papers paper NNS cord-035342-sf0zld5z 103 7 are be VBP cord-035342-sf0zld5z 103 8 excluded exclude VBN cord-035342-sf0zld5z 103 9 and and CC cord-035342-sf0zld5z 103 10 neither neither RB cord-035342-sf0zld5z 103 11 used use VBN cord-035342-sf0zld5z 103 12 , , , cord-035342-sf0zld5z 103 13 nor nor CC cord-035342-sf0zld5z 103 14 cited cite VBN cord-035342-sf0zld5z 103 15 . . . cord-035342-sf0zld5z 104 1 The the DT cord-035342-sf0zld5z 104 2 first first JJ cord-035342-sf0zld5z 104 3 impact impact NN cord-035342-sf0zld5z 104 4 factor factor NN cord-035342-sf0zld5z 104 5 is be VBZ cord-035342-sf0zld5z 104 6 based base VBN cord-035342-sf0zld5z 104 7 on on IN cord-035342-sf0zld5z 104 8 the the DT cord-035342-sf0zld5z 104 9 database database NN cord-035342-sf0zld5z 104 10 IDEAS idea NNS cord-035342-sf0zld5z 104 11 ( ( -LRB- cord-035342-sf0zld5z 104 12 IDEAS IDEAS NNP cord-035342-sf0zld5z 104 13 2019 2019 CD cord-035342-sf0zld5z 104 14 ) ) -RRB- cord-035342-sf0zld5z 104 15 . . . cord-035342-sf0zld5z 105 1 The the DT cord-035342-sf0zld5z 105 2 impact impact NN cord-035342-sf0zld5z 105 3 factor factor NN cord-035342-sf0zld5z 105 4 survey survey NN cord-035342-sf0zld5z 105 5 " " '' cord-035342-sf0zld5z 105 6 https https NN cord-035342-sf0zld5z 105 7 : : : cord-035342-sf0zld5z 105 8 //ideas //ideas . cord-035342-sf0zld5z 106 1 .repec .repec NFP cord-035342-sf0zld5z 106 2 .org .org . cord-035342-sf0zld5z 107 1 / / NFP cord-035342-sf0zld5z 108 1 top/ top/ . cord-035342-sf0zld5z 109 1 top.journ top.journ NNP cord-035342-sf0zld5z 109 2 als.simpl als.simpl NNP cord-035342-sf0zld5z 109 3 e.html e.html NNP cord-035342-sf0zld5z 109 4 " " '' cord-035342-sf0zld5z 109 5 is be VBZ cord-035342-sf0zld5z 109 6 obtained obtain VBN cord-035342-sf0zld5z 109 7 on on IN cord-035342-sf0zld5z 109 8 the the DT cord-035342-sf0zld5z 109 9 Internet internet NN cord-035342-sf0zld5z 109 10 . . . cord-035342-sf0zld5z 110 1 In in IN cord-035342-sf0zld5z 110 2 this this DT cord-035342-sf0zld5z 110 3 survey survey NN cord-035342-sf0zld5z 110 4 2,244 2,244 CD cord-035342-sf0zld5z 110 5 journals journal NNS cord-035342-sf0zld5z 110 6 ( ( -LRB- cord-035342-sf0zld5z 110 7 without without IN cord-035342-sf0zld5z 110 8 working work VBG cord-035342-sf0zld5z 110 9 papers paper NNS cord-035342-sf0zld5z 110 10 ) ) -RRB- cord-035342-sf0zld5z 110 11 are be VBP cord-035342-sf0zld5z 110 12 ranked rank VBN cord-035342-sf0zld5z 110 13 . . . cord-035342-sf0zld5z 111 1 There there EX cord-035342-sf0zld5z 111 2 are be VBP cord-035342-sf0zld5z 111 3 two two CD cord-035342-sf0zld5z 111 4 journals journal NNS cord-035342-sf0zld5z 111 5 not not RB cord-035342-sf0zld5z 111 6 ranked rank VBN cord-035342-sf0zld5z 111 7 in in IN cord-035342-sf0zld5z 111 8 the the DT cord-035342-sf0zld5z 111 9 VHB VHB NNP cord-035342-sf0zld5z 111 10 - - HYPH cord-035342-sf0zld5z 111 11 ranking ranking NN cord-035342-sf0zld5z 111 12 and and CC cord-035342-sf0zld5z 111 13 not not RB cord-035342-sf0zld5z 111 14 being be VBG cord-035342-sf0zld5z 111 15 within within IN cord-035342-sf0zld5z 111 16 the the DT cord-035342-sf0zld5z 111 17 upper upper JJ cord-035342-sf0zld5z 111 18 half half NN cord-035342-sf0zld5z 111 19 of of IN cord-035342-sf0zld5z 111 20 the the DT cord-035342-sf0zld5z 111 21 IDEAS IDEAS NNP cord-035342-sf0zld5z 111 22 impact impact NN cord-035342-sf0zld5z 111 23 factor factor NN cord-035342-sf0zld5z 111 24 survey survey NN cord-035342-sf0zld5z 111 25 : : : cord-035342-sf0zld5z 111 26 ' ' '' cord-035342-sf0zld5z 111 27 Jahrbuch Jahrbuch NNP cord-035342-sf0zld5z 111 28 für für IN cord-035342-sf0zld5z 111 29 Wirtschaftsgeschichte Wirtschaftsgeschichte NNP cord-035342-sf0zld5z 111 30 ' ' '' cord-035342-sf0zld5z 111 31 and and CC cord-035342-sf0zld5z 111 32 ' ' '' cord-035342-sf0zld5z 111 33 International International NNP cord-035342-sf0zld5z 111 34 Journal Journal NNP cord-035342-sf0zld5z 111 35 of of IN cord-035342-sf0zld5z 111 36 Financial Financial NNP cord-035342-sf0zld5z 111 37 Research Research NNP cord-035342-sf0zld5z 111 38 ' ' '' cord-035342-sf0zld5z 111 39 . . . cord-035342-sf0zld5z 112 1 These these DT cord-035342-sf0zld5z 112 2 two two CD cord-035342-sf0zld5z 112 3 journals journal NNS cord-035342-sf0zld5z 112 4 are be VBP cord-035342-sf0zld5z 112 5 therefore therefore RB cord-035342-sf0zld5z 112 6 excluded exclude VBN cord-035342-sf0zld5z 112 7 from from IN cord-035342-sf0zld5z 112 8 this this DT cord-035342-sf0zld5z 112 9 review review NN cord-035342-sf0zld5z 112 10 . . . cord-035342-sf0zld5z 113 1 3 3 LS cord-035342-sf0zld5z 114 1 All all DT cord-035342-sf0zld5z 114 2 other other JJ cord-035342-sf0zld5z 114 3 considered consider VBN cord-035342-sf0zld5z 114 4 journals journal NNS cord-035342-sf0zld5z 114 5 are be VBP cord-035342-sf0zld5z 114 6 within within IN cord-035342-sf0zld5z 114 7 rank rank NN cord-035342-sf0zld5z 114 8 707 707 CD cord-035342-sf0zld5z 114 9 or or CC cord-035342-sf0zld5z 114 10 above above RB cord-035342-sf0zld5z 114 11 . . . cord-035342-sf0zld5z 115 1 The the DT cord-035342-sf0zld5z 115 2 second second JJ cord-035342-sf0zld5z 115 3 impact impact NN cord-035342-sf0zld5z 115 4 factor factor NN cord-035342-sf0zld5z 115 5 is be VBZ cord-035342-sf0zld5z 115 6 developed develop VBN cord-035342-sf0zld5z 115 7 by by IN cord-035342-sf0zld5z 115 8 ' ' `` cord-035342-sf0zld5z 115 9 Scimago Scimago NNP cord-035342-sf0zld5z 115 10 ' ' '' cord-035342-sf0zld5z 115 11 . . . cord-035342-sf0zld5z 116 1 There there EX cord-035342-sf0zld5z 116 2 are be VBP cord-035342-sf0zld5z 116 3 two two CD cord-035342-sf0zld5z 116 4 considered consider VBN cord-035342-sf0zld5z 116 5 survey survey NN cord-035342-sf0zld5z 116 6 categories category NNS cord-035342-sf0zld5z 116 7 of of IN cord-035342-sf0zld5z 116 8 the the DT cord-035342-sf0zld5z 116 9 Scimago Scimago NNP cord-035342-sf0zld5z 116 10 ranking ranking NN cord-035342-sf0zld5z 116 11 . . . cord-035342-sf0zld5z 117 1 In in IN cord-035342-sf0zld5z 117 2 the the DT cord-035342-sf0zld5z 117 3 category category NN cord-035342-sf0zld5z 117 4 ' ' `` cord-035342-sf0zld5z 117 5 Economics Economics NNP cord-035342-sf0zld5z 117 6 , , , cord-035342-sf0zld5z 117 7 Econometrics Econometrics NNP cord-035342-sf0zld5z 117 8 and and CC cord-035342-sf0zld5z 117 9 Finance Finance NNP cord-035342-sf0zld5z 117 10 ' ' POS cord-035342-sf0zld5z 117 11 1,035 1,035 CD cord-035342-sf0zld5z 117 12 journals journal NNS cord-035342-sf0zld5z 117 13 are be VBP cord-035342-sf0zld5z 117 14 ranked rank VBN cord-035342-sf0zld5z 117 15 ( ( -LRB- cord-035342-sf0zld5z 117 16 Scimago Scimago NNP cord-035342-sf0zld5z 117 17 2019 2019 CD cord-035342-sf0zld5z 117 18 ) ) -RRB- cord-035342-sf0zld5z 117 19 . . . cord-035342-sf0zld5z 118 1 The the DT cord-035342-sf0zld5z 118 2 only only JJ cord-035342-sf0zld5z 118 3 journal journal NN cord-035342-sf0zld5z 118 4 that that WDT cord-035342-sf0zld5z 118 5 is be VBZ cord-035342-sf0zld5z 118 6 ranked rank VBN cord-035342-sf0zld5z 118 7 below below IN cord-035342-sf0zld5z 118 8 the the DT cord-035342-sf0zld5z 118 9 upper upper JJ cord-035342-sf0zld5z 118 10 half half NN cord-035342-sf0zld5z 118 11 of of IN cord-035342-sf0zld5z 118 12 the the DT cord-035342-sf0zld5z 118 13 rated rate VBN cord-035342-sf0zld5z 118 14 journals journal NNS cord-035342-sf0zld5z 118 15 is be VBZ cord-035342-sf0zld5z 118 16 the the DT cord-035342-sf0zld5z 118 17 ' ' `` cord-035342-sf0zld5z 118 18 Review Review NNP cord-035342-sf0zld5z 118 19 of of IN cord-035342-sf0zld5z 118 20 Derivatives Derivatives NNP cord-035342-sf0zld5z 118 21 Research Research NNP cord-035342-sf0zld5z 118 22 ' ' '' cord-035342-sf0zld5z 118 23 . . . cord-035342-sf0zld5z 119 1 Since since IN cord-035342-sf0zld5z 119 2 this this DT cord-035342-sf0zld5z 119 3 journal journal NN cord-035342-sf0zld5z 119 4 is be VBZ cord-035342-sf0zld5z 119 5 ' ' `` cord-035342-sf0zld5z 119 6 A'-ranked a'-ranke VBN cord-035342-sf0zld5z 119 7 in in IN cord-035342-sf0zld5z 119 8 the the DT cord-035342-sf0zld5z 119 9 prioritized prioritize VBN cord-035342-sf0zld5z 119 10 VHB VHB NNP cord-035342-sf0zld5z 119 11 - - HYPH cord-035342-sf0zld5z 119 12 ranking ranking NN cord-035342-sf0zld5z 119 13 , , , cord-035342-sf0zld5z 119 14 it -PRON- PRP cord-035342-sf0zld5z 119 15 is be VBZ cord-035342-sf0zld5z 119 16 nevertheless nevertheless RB cord-035342-sf0zld5z 119 17 used use VBN cord-035342-sf0zld5z 119 18 in in IN cord-035342-sf0zld5z 119 19 this this DT cord-035342-sf0zld5z 119 20 review review NN cord-035342-sf0zld5z 119 21 . . . cord-035342-sf0zld5z 120 1 On on IN cord-035342-sf0zld5z 120 2 the the DT cord-035342-sf0zld5z 120 3 whole whole NN cord-035342-sf0zld5z 120 4 , , , cord-035342-sf0zld5z 120 5 applying apply VBG cord-035342-sf0zld5z 120 6 the the DT cord-035342-sf0zld5z 120 7 evaluation evaluation NN cord-035342-sf0zld5z 120 8 methods method NNS cord-035342-sf0zld5z 120 9 , , , cord-035342-sf0zld5z 120 10 there there EX cord-035342-sf0zld5z 120 11 are be VBP cord-035342-sf0zld5z 120 12 two two CD cord-035342-sf0zld5z 120 13 journals journal NNS cord-035342-sf0zld5z 120 14 not not RB cord-035342-sf0zld5z 120 15 listed list VBN cord-035342-sf0zld5z 120 16 : : : cord-035342-sf0zld5z 120 17 ' ' '' cord-035342-sf0zld5z 120 18 International International NNP cord-035342-sf0zld5z 120 19 Research Research NNP cord-035342-sf0zld5z 120 20 Journal Journal NNP cord-035342-sf0zld5z 120 21 of of IN cord-035342-sf0zld5z 120 22 Finance Finance NNP cord-035342-sf0zld5z 120 23 and and CC cord-035342-sf0zld5z 120 24 Economics Economics NNP cord-035342-sf0zld5z 120 25 ' ' POS cord-035342-sf0zld5z 120 26 and and CC cord-035342-sf0zld5z 120 27 ' ' '' cord-035342-sf0zld5z 120 28 Journal Journal NNP cord-035342-sf0zld5z 120 29 of of IN cord-035342-sf0zld5z 120 30 Psychology Psychology NNP cord-035342-sf0zld5z 120 31 and and CC cord-035342-sf0zld5z 120 32 Financial Financial NNP cord-035342-sf0zld5z 120 33 Markets Markets NNPS cord-035342-sf0zld5z 120 34 ' ' POS cord-035342-sf0zld5z 120 35 . . . cord-035342-sf0zld5z 121 1 Thus thus RB cord-035342-sf0zld5z 121 2 , , , cord-035342-sf0zld5z 121 3 the the DT cord-035342-sf0zld5z 121 4 ' ' `` cord-035342-sf0zld5z 121 5 International International NNP cord-035342-sf0zld5z 121 6 Research Research NNP cord-035342-sf0zld5z 121 7 Journal Journal NNP cord-035342-sf0zld5z 121 8 of of IN cord-035342-sf0zld5z 121 9 Finance Finance NNP cord-035342-sf0zld5z 121 10 and and CC cord-035342-sf0zld5z 121 11 Economics Economics NNP cord-035342-sf0zld5z 121 12 ' ' '' cord-035342-sf0zld5z 121 13 is be VBZ cord-035342-sf0zld5z 121 14 excluded exclude VBN cord-035342-sf0zld5z 121 15 from from IN cord-035342-sf0zld5z 121 16 this this DT cord-035342-sf0zld5z 121 17 review review NN cord-035342-sf0zld5z 121 18 . . . cord-035342-sf0zld5z 122 1 The the DT cord-035342-sf0zld5z 122 2 ' ' `` cord-035342-sf0zld5z 122 3 Journal Journal NNP cord-035342-sf0zld5z 122 4 of of IN cord-035342-sf0zld5z 122 5 Psychology Psychology NNP cord-035342-sf0zld5z 122 6 and and CC cord-035342-sf0zld5z 122 7 Financial Financial NNP cord-035342-sf0zld5z 122 8 Markets Markets NNPS cord-035342-sf0zld5z 122 9 ' ' POS cord-035342-sf0zld5z 122 10 is be VBZ cord-035342-sf0zld5z 122 11 not not RB cord-035342-sf0zld5z 122 12 included include VBN cord-035342-sf0zld5z 122 13 in in IN cord-035342-sf0zld5z 122 14 any any DT cord-035342-sf0zld5z 122 15 rating rating NN cord-035342-sf0zld5z 122 16 because because IN cord-035342-sf0zld5z 122 17 it -PRON- PRP cord-035342-sf0zld5z 122 18 no no RB cord-035342-sf0zld5z 122 19 longer long RBR cord-035342-sf0zld5z 122 20 exists exist VBZ cord-035342-sf0zld5z 122 21 under under IN cord-035342-sf0zld5z 122 22 this this DT cord-035342-sf0zld5z 122 23 name name NN cord-035342-sf0zld5z 122 24 . . . cord-035342-sf0zld5z 123 1 The the DT cord-035342-sf0zld5z 123 2 current current JJ cord-035342-sf0zld5z 123 3 name name NN cord-035342-sf0zld5z 123 4 ( ( -LRB- cord-035342-sf0zld5z 123 5 from from IN cord-035342-sf0zld5z 123 6 2003 2003 CD cord-035342-sf0zld5z 123 7 on on IN cord-035342-sf0zld5z 123 8 ) ) -RRB- cord-035342-sf0zld5z 123 9 of of IN cord-035342-sf0zld5z 123 10 the the DT cord-035342-sf0zld5z 123 11 journal journal NN cord-035342-sf0zld5z 123 12 is be VBZ cord-035342-sf0zld5z 123 13 ' ' '' cord-035342-sf0zld5z 123 14 Journal Journal NNP cord-035342-sf0zld5z 123 15 of of IN cord-035342-sf0zld5z 123 16 Behavioural Behavioural NNP cord-035342-sf0zld5z 123 17 Finance Finance NNP cord-035342-sf0zld5z 123 18 ' ' '' cord-035342-sf0zld5z 123 19 ( ( -LRB- cord-035342-sf0zld5z 123 20 Taylor Taylor NNP cord-035342-sf0zld5z 123 21 and and CC cord-035342-sf0zld5z 123 22 Francis Francis NNP cord-035342-sf0zld5z 123 23 Online Online NNP cord-035342-sf0zld5z 123 24 2019 2019 CD cord-035342-sf0zld5z 123 25 ) ) -RRB- cord-035342-sf0zld5z 123 26 . . . cord-035342-sf0zld5z 124 1 This this DT cord-035342-sf0zld5z 124 2 journal journal NN cord-035342-sf0zld5z 124 3 is be VBZ cord-035342-sf0zld5z 124 4 ' ' `` cord-035342-sf0zld5z 124 5 B'-rated b'-rated JJ cord-035342-sf0zld5z 124 6 in in IN cord-035342-sf0zld5z 124 7 the the DT cord-035342-sf0zld5z 124 8 VHB VHB NNP cord-035342-sf0zld5z 124 9 - - HYPH cord-035342-sf0zld5z 124 10 ranking rank VBG cord-035342-sf0zld5z 124 11 and and CC cord-035342-sf0zld5z 124 12 ranked rank VBD cord-035342-sf0zld5z 124 13 320 320 CD cord-035342-sf0zld5z 124 14 in in IN cord-035342-sf0zld5z 124 15 the the DT cord-035342-sf0zld5z 124 16 1,035 1,035 CD cord-035342-sf0zld5z 124 17 journals journal NNS cord-035342-sf0zld5z 124 18 in in IN cord-035342-sf0zld5z 124 19 the the DT cord-035342-sf0zld5z 124 20 Scimago Scimago NNP cord-035342-sf0zld5z 124 21 impact impact NN cord-035342-sf0zld5z 124 22 factor factor NN cord-035342-sf0zld5z 124 23 survey survey NN cord-035342-sf0zld5z 124 24 ' ' '' cord-035342-sf0zld5z 124 25 Economics Economics NNP cord-035342-sf0zld5z 124 26 , , , cord-035342-sf0zld5z 124 27 Econometrics Econometrics NNP cord-035342-sf0zld5z 124 28 and and CC cord-035342-sf0zld5z 124 29 Finance Finance NNP cord-035342-sf0zld5z 124 30 ' ' '' cord-035342-sf0zld5z 124 31 . . . cord-035342-sf0zld5z 125 1 Therefore therefore RB cord-035342-sf0zld5z 125 2 , , , cord-035342-sf0zld5z 125 3 the the DT cord-035342-sf0zld5z 125 4 journal journal NN cord-035342-sf0zld5z 125 5 is be VBZ cord-035342-sf0zld5z 125 6 part part NN cord-035342-sf0zld5z 125 7 of of IN cord-035342-sf0zld5z 125 8 this this DT cord-035342-sf0zld5z 125 9 literature literature NN cord-035342-sf0zld5z 125 10 review review NN cord-035342-sf0zld5z 125 11 . . . cord-035342-sf0zld5z 126 1 In in IN cord-035342-sf0zld5z 126 2 general general JJ cord-035342-sf0zld5z 126 3 , , , cord-035342-sf0zld5z 126 4 the the DT cord-035342-sf0zld5z 126 5 home home NN cord-035342-sf0zld5z 126 6 bias bias NN cord-035342-sf0zld5z 126 7 describes describe VBZ cord-035342-sf0zld5z 126 8 an an DT cord-035342-sf0zld5z 126 9 investment investment NN cord-035342-sf0zld5z 126 10 behaviour behaviour NN cord-035342-sf0zld5z 126 11 in in IN cord-035342-sf0zld5z 126 12 portfolio portfolio NN cord-035342-sf0zld5z 126 13 management management NN cord-035342-sf0zld5z 126 14 where where WRB cord-035342-sf0zld5z 126 15 investors investor NNS cord-035342-sf0zld5z 126 16 tend tend VBP cord-035342-sf0zld5z 126 17 to to TO cord-035342-sf0zld5z 126 18 overweight overweight VB cord-035342-sf0zld5z 126 19 their -PRON- PRP$ cord-035342-sf0zld5z 126 20 home home NN cord-035342-sf0zld5z 126 21 country country NN cord-035342-sf0zld5z 126 22 's 's POS cord-035342-sf0zld5z 126 23 market market NN cord-035342-sf0zld5z 126 24 and and CC cord-035342-sf0zld5z 126 25 thus thus RB cord-035342-sf0zld5z 126 26 investing invest VBG cord-035342-sf0zld5z 126 27 disproportionally disproportionally RB cord-035342-sf0zld5z 126 28 more more RBR cord-035342-sf0zld5z 126 29 in in IN cord-035342-sf0zld5z 126 30 assets asset NNS cord-035342-sf0zld5z 126 31 of of IN cord-035342-sf0zld5z 126 32 their -PRON- PRP$ cord-035342-sf0zld5z 126 33 home home NN cord-035342-sf0zld5z 126 34 country country NN cord-035342-sf0zld5z 126 35 compared compare VBN cord-035342-sf0zld5z 126 36 to to IN cord-035342-sf0zld5z 126 37 its -PRON- PRP$ cord-035342-sf0zld5z 126 38 share share NN cord-035342-sf0zld5z 126 39 in in IN cord-035342-sf0zld5z 126 40 the the DT cord-035342-sf0zld5z 126 41 overall overall JJ cord-035342-sf0zld5z 126 42 market market NN cord-035342-sf0zld5z 126 43 portfolio portfolio NN cord-035342-sf0zld5z 126 44 . . . cord-035342-sf0zld5z 127 1 In in IN cord-035342-sf0zld5z 127 2 principle principle NN cord-035342-sf0zld5z 127 3 , , , cord-035342-sf0zld5z 127 4 the the DT cord-035342-sf0zld5z 127 5 notion notion NN cord-035342-sf0zld5z 127 6 domestic domestic JJ cord-035342-sf0zld5z 127 7 bias bias NN cord-035342-sf0zld5z 127 8 is be VBZ cord-035342-sf0zld5z 127 9 being be VBG cord-035342-sf0zld5z 127 10 used use VBN cord-035342-sf0zld5z 127 11 with with IN cord-035342-sf0zld5z 127 12 the the DT cord-035342-sf0zld5z 127 13 same same JJ cord-035342-sf0zld5z 127 14 meaning meaning NN cord-035342-sf0zld5z 127 15 . . . cord-035342-sf0zld5z 128 1 In in IN cord-035342-sf0zld5z 128 2 contrast contrast NN cord-035342-sf0zld5z 128 3 , , , cord-035342-sf0zld5z 128 4 the the DT cord-035342-sf0zld5z 128 5 local local JJ cord-035342-sf0zld5z 128 6 bias bias NN cord-035342-sf0zld5z 128 7 is be VBZ cord-035342-sf0zld5z 128 8 more more JJR cord-035342-sf0zld5z 128 9 of of IN cord-035342-sf0zld5z 128 10 an an DT cord-035342-sf0zld5z 128 11 intra intra JJ cord-035342-sf0zld5z 128 12 - - JJ cord-035342-sf0zld5z 128 13 national national JJ cord-035342-sf0zld5z 128 14 phenomenon phenomenon NN cord-035342-sf0zld5z 128 15 . . . cord-035342-sf0zld5z 129 1 It -PRON- PRP cord-035342-sf0zld5z 129 2 is be VBZ cord-035342-sf0zld5z 129 3 always always RB cord-035342-sf0zld5z 129 4 related relate VBN cord-035342-sf0zld5z 129 5 to to IN cord-035342-sf0zld5z 129 6 distance distance NN cord-035342-sf0zld5z 129 7 within within IN cord-035342-sf0zld5z 129 8 a a DT cord-035342-sf0zld5z 129 9 certain certain JJ cord-035342-sf0zld5z 129 10 country country NN cord-035342-sf0zld5z 129 11 . . . cord-035342-sf0zld5z 130 1 Investors investor NNS cord-035342-sf0zld5z 130 2 are be VBP cord-035342-sf0zld5z 130 3 inclined incline VBN cord-035342-sf0zld5z 130 4 to to TO cord-035342-sf0zld5z 130 5 invest invest VB cord-035342-sf0zld5z 130 6 a a DT cord-035342-sf0zld5z 130 7 disproportionate disproportionate JJ cord-035342-sf0zld5z 130 8 high high JJ cord-035342-sf0zld5z 130 9 percentage percentage NN cord-035342-sf0zld5z 130 10 in in IN cord-035342-sf0zld5z 130 11 assets asset NNS cord-035342-sf0zld5z 130 12 of of IN cord-035342-sf0zld5z 130 13 firms firm NNS cord-035342-sf0zld5z 130 14 located locate VBN cord-035342-sf0zld5z 130 15 close close RB cord-035342-sf0zld5z 130 16 to to IN cord-035342-sf0zld5z 130 17 them -PRON- PRP cord-035342-sf0zld5z 130 18 , , , cord-035342-sf0zld5z 130 19 independent independent JJ cord-035342-sf0zld5z 130 20 from from IN cord-035342-sf0zld5z 130 21 country country NN cord-035342-sf0zld5z 130 22 borders border NNS cord-035342-sf0zld5z 130 23 . . . cord-035342-sf0zld5z 131 1 This this DT cord-035342-sf0zld5z 131 2 also also RB cord-035342-sf0zld5z 131 3 results result VBZ cord-035342-sf0zld5z 131 4 in in IN cord-035342-sf0zld5z 131 5 a a DT cord-035342-sf0zld5z 131 6 lack lack NN cord-035342-sf0zld5z 131 7 of of IN cord-035342-sf0zld5z 131 8 diversification diversification NN cord-035342-sf0zld5z 131 9 . . . cord-035342-sf0zld5z 132 1 It -PRON- PRP cord-035342-sf0zld5z 132 2 is be VBZ cord-035342-sf0zld5z 132 3 also also RB cord-035342-sf0zld5z 132 4 called call VBN cord-035342-sf0zld5z 132 5 ' ' `` cord-035342-sf0zld5z 132 6 home home NN cord-035342-sf0zld5z 132 7 bias bias NN cord-035342-sf0zld5z 132 8 at at IN cord-035342-sf0zld5z 132 9 home home NN cord-035342-sf0zld5z 132 10 ' ' '' cord-035342-sf0zld5z 132 11 . . . cord-035342-sf0zld5z 133 1 Since since IN cord-035342-sf0zld5z 133 2 the the DT cord-035342-sf0zld5z 133 3 effects effect NNS cord-035342-sf0zld5z 133 4 and and CC cord-035342-sf0zld5z 133 5 causes cause NNS cord-035342-sf0zld5z 133 6 of of IN cord-035342-sf0zld5z 133 7 home home NN cord-035342-sf0zld5z 133 8 / / SYM cord-035342-sf0zld5z 133 9 domestic domestic JJ cord-035342-sf0zld5z 133 10 bias bias NN cord-035342-sf0zld5z 133 11 and and CC cord-035342-sf0zld5z 133 12 local local JJ cord-035342-sf0zld5z 133 13 bias bias NN cord-035342-sf0zld5z 133 14 are be VBP cord-035342-sf0zld5z 133 15 quite quite RB cord-035342-sf0zld5z 133 16 similar similar JJ cord-035342-sf0zld5z 133 17 and and CC cord-035342-sf0zld5z 133 18 both both CC cord-035342-sf0zld5z 133 19 even even RB cord-035342-sf0zld5z 133 20 considered consider VBN cord-035342-sf0zld5z 133 21 in in IN cord-035342-sf0zld5z 133 22 several several JJ cord-035342-sf0zld5z 133 23 papers paper NNS cord-035342-sf0zld5z 133 24 , , , cord-035342-sf0zld5z 133 25 the the DT cord-035342-sf0zld5z 133 26 literature literature NN cord-035342-sf0zld5z 133 27 on on IN cord-035342-sf0zld5z 133 28 local local JJ cord-035342-sf0zld5z 133 29 bias bias NN cord-035342-sf0zld5z 133 30 ' ' POS cord-035342-sf0zld5z 133 31 effects effect NNS cord-035342-sf0zld5z 133 32 is be VBZ cord-035342-sf0zld5z 133 33 fully fully RB cord-035342-sf0zld5z 133 34 included include VBN cord-035342-sf0zld5z 133 35 in in IN cord-035342-sf0zld5z 133 36 this this DT cord-035342-sf0zld5z 133 37 review review NN cord-035342-sf0zld5z 133 38 . . . cord-035342-sf0zld5z 134 1 Baltzer Baltzer NNP cord-035342-sf0zld5z 134 2 et et NNP cord-035342-sf0zld5z 134 3 al al NNP cord-035342-sf0zld5z 134 4 . . . cord-035342-sf0zld5z 135 1 ( ( -LRB- cord-035342-sf0zld5z 135 2 2013 2013 CD cord-035342-sf0zld5z 135 3 ) ) -RRB- cord-035342-sf0zld5z 135 4 examine examine VB cord-035342-sf0zld5z 135 5 the the DT cord-035342-sf0zld5z 135 6 bridge bridge NN cord-035342-sf0zld5z 135 7 between between IN cord-035342-sf0zld5z 135 8 local local JJ cord-035342-sf0zld5z 135 9 bias bias NN cord-035342-sf0zld5z 135 10 and and CC cord-035342-sf0zld5z 135 11 home home NN cord-035342-sf0zld5z 135 12 bias bias NN cord-035342-sf0zld5z 135 13 . . . cord-035342-sf0zld5z 136 1 Studying study VBG cord-035342-sf0zld5z 136 2 the the DT cord-035342-sf0zld5z 136 3 data datum NNS cord-035342-sf0zld5z 136 4 of of IN cord-035342-sf0zld5z 136 5 stockholdings stockholding NNS cord-035342-sf0zld5z 136 6 from from IN cord-035342-sf0zld5z 136 7 Germany Germany NNP cord-035342-sf0zld5z 136 8 and and CC cord-035342-sf0zld5z 136 9 its -PRON- PRP$ cord-035342-sf0zld5z 136 10 neighbour neighbour NN cord-035342-sf0zld5z 136 11 countries country NNS cord-035342-sf0zld5z 136 12 they -PRON- PRP cord-035342-sf0zld5z 136 13 find find VBP cord-035342-sf0zld5z 136 14 that that IN cord-035342-sf0zld5z 136 15 the the DT cord-035342-sf0zld5z 136 16 local local JJ cord-035342-sf0zld5z 136 17 bias bias NN cord-035342-sf0zld5z 136 18 is be VBZ cord-035342-sf0zld5z 136 19 not not RB cord-035342-sf0zld5z 136 20 limited limit VBN cord-035342-sf0zld5z 136 21 to to IN cord-035342-sf0zld5z 136 22 national national JJ cord-035342-sf0zld5z 136 23 borders border NNS cord-035342-sf0zld5z 136 24 , , , cord-035342-sf0zld5z 136 25 it -PRON- PRP cord-035342-sf0zld5z 136 26 is be VBZ cord-035342-sf0zld5z 136 27 cross cross JJ cord-035342-sf0zld5z 136 28 - - JJ cord-035342-sf0zld5z 136 29 border border NN cord-035342-sf0zld5z 136 30 - - HYPH cord-035342-sf0zld5z 136 31 related relate VBN cord-035342-sf0zld5z 136 32 . . . cord-035342-sf0zld5z 137 1 If if IN cord-035342-sf0zld5z 137 2 the the DT cord-035342-sf0zld5z 137 3 investment investment NN cord-035342-sf0zld5z 137 4 proximity proximity NN cord-035342-sf0zld5z 137 5 is be VBZ cord-035342-sf0zld5z 137 6 close close JJ cord-035342-sf0zld5z 137 7 enough enough RB cord-035342-sf0zld5z 137 8 , , , cord-035342-sf0zld5z 137 9 the the DT cord-035342-sf0zld5z 137 10 inclination inclination NN cord-035342-sf0zld5z 137 11 to to IN cord-035342-sf0zld5z 137 12 local local JJ cord-035342-sf0zld5z 137 13 stocks stock NNS cord-035342-sf0zld5z 137 14 exceeds exceed VBZ cord-035342-sf0zld5z 137 15 borders border NNS cord-035342-sf0zld5z 137 16 . . . cord-035342-sf0zld5z 138 1 Therefore therefore RB cord-035342-sf0zld5z 138 2 , , , cord-035342-sf0zld5z 138 3 it -PRON- PRP cord-035342-sf0zld5z 138 4 is be VBZ cord-035342-sf0zld5z 138 5 possible possible JJ cord-035342-sf0zld5z 138 6 to to TO cord-035342-sf0zld5z 138 7 perceive perceive VB cord-035342-sf0zld5z 138 8 foreign foreign JJ cord-035342-sf0zld5z 138 9 countries country NNS cord-035342-sf0zld5z 138 10 as as RB cord-035342-sf0zld5z 138 11 local local JJ cord-035342-sf0zld5z 138 12 if if IN cord-035342-sf0zld5z 138 13 they -PRON- PRP cord-035342-sf0zld5z 138 14 are be VBP cord-035342-sf0zld5z 138 15 ' ' `` cord-035342-sf0zld5z 138 16 close close JJ cord-035342-sf0zld5z 138 17 enough enough RB cord-035342-sf0zld5z 138 18 ' ' '' cord-035342-sf0zld5z 138 19 . . . cord-035342-sf0zld5z 139 1 There there EX cord-035342-sf0zld5z 139 2 are be VBP cord-035342-sf0zld5z 139 3 some some DT cord-035342-sf0zld5z 139 4 other other JJ cord-035342-sf0zld5z 139 5 inclinations inclination NNS cord-035342-sf0zld5z 139 6 towards towards IN cord-035342-sf0zld5z 139 7 the the DT cord-035342-sf0zld5z 139 8 domestic domestic JJ cord-035342-sf0zld5z 139 9 market market NN cord-035342-sf0zld5z 139 10 respectively respectively RB cord-035342-sf0zld5z 139 11 biases bias VBZ cord-035342-sf0zld5z 139 12 in in IN cord-035342-sf0zld5z 139 13 general general JJ cord-035342-sf0zld5z 139 14 that that WDT cord-035342-sf0zld5z 139 15 are be VBP cord-035342-sf0zld5z 139 16 closely closely RB cord-035342-sf0zld5z 139 17 related relate VBN cord-035342-sf0zld5z 139 18 to to IN cord-035342-sf0zld5z 139 19 home home NN cord-035342-sf0zld5z 139 20 and and CC cord-035342-sf0zld5z 139 21 local local JJ cord-035342-sf0zld5z 139 22 bias bias NN cord-035342-sf0zld5z 139 23 . . . cord-035342-sf0zld5z 140 1 These these DT cord-035342-sf0zld5z 140 2 are be VBP cord-035342-sf0zld5z 140 3 foreign foreign JJ cord-035342-sf0zld5z 140 4 bias bias NN cord-035342-sf0zld5z 140 5 observed observe VBN cord-035342-sf0zld5z 140 6 by by IN cord-035342-sf0zld5z 140 7 Chan Chan NNP cord-035342-sf0zld5z 140 8 et et NNP cord-035342-sf0zld5z 140 9 al al NNP cord-035342-sf0zld5z 140 10 . . . cord-035342-sf0zld5z 141 1 ( ( -LRB- cord-035342-sf0zld5z 141 2 2005 2005 CD cord-035342-sf0zld5z 141 3 ) ) -RRB- cord-035342-sf0zld5z 141 4 , , , cord-035342-sf0zld5z 141 5 foreign foreign JJ cord-035342-sf0zld5z 141 6 industry industry NN cord-035342-sf0zld5z 141 7 bias bias NN cord-035342-sf0zld5z 141 8 ( ( -LRB- cord-035342-sf0zld5z 141 9 Schumacher Schumacher NNP cord-035342-sf0zld5z 141 10 2018 2018 CD cord-035342-sf0zld5z 141 11 ) ) -RRB- cord-035342-sf0zld5z 141 12 , , , cord-035342-sf0zld5z 141 13 homeinstitution homeinstitution NNP cord-035342-sf0zld5z 141 14 bias bias NNP cord-035342-sf0zld5z 141 15 ( ( -LRB- cord-035342-sf0zld5z 141 16 McQueen McQueen NNP cord-035342-sf0zld5z 141 17 and and CC cord-035342-sf0zld5z 141 18 Stenkrona Stenkrona NNP cord-035342-sf0zld5z 141 19 2012 2012 CD cord-035342-sf0zld5z 141 20 ) ) -RRB- cord-035342-sf0zld5z 141 21 , , , cord-035342-sf0zld5z 141 22 listing list VBG cord-035342-sf0zld5z 141 23 home home NN cord-035342-sf0zld5z 141 24 bias bias NN cord-035342-sf0zld5z 141 25 ( ( -LRB- cord-035342-sf0zld5z 141 26 Sarkissian Sarkissian NNP cord-035342-sf0zld5z 141 27 and and CC cord-035342-sf0zld5z 141 28 Schill Schill NNP cord-035342-sf0zld5z 141 29 2003 2003 CD cord-035342-sf0zld5z 141 30 ) ) -RRB- cord-035342-sf0zld5z 141 31 , , , cord-035342-sf0zld5z 141 32 flight flight NN cord-035342-sf0zld5z 141 33 home home NN cord-035342-sf0zld5z 141 34 effect effect NN cord-035342-sf0zld5z 141 35 ( ( -LRB- cord-035342-sf0zld5z 141 36 Giannetti Giannetti NNP cord-035342-sf0zld5z 141 37 and and CC cord-035342-sf0zld5z 141 38 Laeven Laeven NNP cord-035342-sf0zld5z 141 39 2012 2012 CD cord-035342-sf0zld5z 141 40 ) ) -RRB- cord-035342-sf0zld5z 141 41 , , , cord-035342-sf0zld5z 141 42 consumption consumption NN cord-035342-sf0zld5z 141 43 home home NN cord-035342-sf0zld5z 141 44 bias bias NN cord-035342-sf0zld5z 142 1 ( ( -LRB- cord-035342-sf0zld5z 142 2 Obstfeld Obstfeld NNP cord-035342-sf0zld5z 142 3 and and CC cord-035342-sf0zld5z 142 4 Rogoff Rogoff NNP cord-035342-sf0zld5z 142 5 2000 2000 CD cord-035342-sf0zld5z 142 6 ) ) -RRB- cord-035342-sf0zld5z 142 7 and and CC cord-035342-sf0zld5z 142 8 the the DT cord-035342-sf0zld5z 142 9 academic academic JJ cord-035342-sf0zld5z 142 10 home home NN cord-035342-sf0zld5z 142 11 bias bias NN cord-035342-sf0zld5z 142 12 ( ( -LRB- cord-035342-sf0zld5z 142 13 Karolyi Karolyi NNP cord-035342-sf0zld5z 142 14 2016 2016 CD cord-035342-sf0zld5z 142 15 ) ) -RRB- cord-035342-sf0zld5z 142 16 . . . cord-035342-sf0zld5z 143 1 There there EX cord-035342-sf0zld5z 143 2 is be VBZ cord-035342-sf0zld5z 143 3 much much JJ cord-035342-sf0zld5z 143 4 evidence evidence NN cord-035342-sf0zld5z 143 5 of of IN cord-035342-sf0zld5z 143 6 the the DT cord-035342-sf0zld5z 143 7 existence existence NN cord-035342-sf0zld5z 143 8 of of IN cord-035342-sf0zld5z 143 9 home home NN cord-035342-sf0zld5z 143 10 bias bias NN cord-035342-sf0zld5z 143 11 and and CC cord-035342-sf0zld5z 143 12 local local JJ cord-035342-sf0zld5z 143 13 bias bias NN cord-035342-sf0zld5z 143 14 . . . cord-035342-sf0zld5z 144 1 The the DT cord-035342-sf0zld5z 144 2 degree degree NN cord-035342-sf0zld5z 144 3 of of IN cord-035342-sf0zld5z 144 4 home home NN cord-035342-sf0zld5z 144 5 bias bias NN cord-035342-sf0zld5z 144 6 can can MD cord-035342-sf0zld5z 144 7 be be VB cord-035342-sf0zld5z 144 8 measured measure VBN cord-035342-sf0zld5z 144 9 by by IN cord-035342-sf0zld5z 144 10 various various JJ cord-035342-sf0zld5z 144 11 approaches approach NNS cord-035342-sf0zld5z 144 12 for for IN cord-035342-sf0zld5z 144 13 numerous numerous JJ cord-035342-sf0zld5z 144 14 countries country NNS cord-035342-sf0zld5z 144 15 . . . cord-035342-sf0zld5z 145 1 There there EX cord-035342-sf0zld5z 145 2 is be VBZ cord-035342-sf0zld5z 145 3 an an DT cord-035342-sf0zld5z 145 4 observable observable JJ cord-035342-sf0zld5z 145 5 variation variation NN cord-035342-sf0zld5z 145 6 in in IN cord-035342-sf0zld5z 145 7 the the DT cord-035342-sf0zld5z 145 8 extent extent NN cord-035342-sf0zld5z 145 9 of of IN cord-035342-sf0zld5z 145 10 home home NN cord-035342-sf0zld5z 145 11 bias bias NN cord-035342-sf0zld5z 145 12 in in IN cord-035342-sf0zld5z 145 13 the the DT cord-035342-sf0zld5z 145 14 course course NN cord-035342-sf0zld5z 145 15 of of IN cord-035342-sf0zld5z 145 16 time time NN cord-035342-sf0zld5z 145 17 . . . cord-035342-sf0zld5z 146 1 Besides besides RB cord-035342-sf0zld5z 146 2 , , , cord-035342-sf0zld5z 146 3 induced induce VBN cord-035342-sf0zld5z 146 4 by by IN cord-035342-sf0zld5z 146 5 some some DT cord-035342-sf0zld5z 146 6 factors factor NNS cord-035342-sf0zld5z 146 7 the the DT cord-035342-sf0zld5z 146 8 degree degree NN cord-035342-sf0zld5z 146 9 varies vary VBZ cord-035342-sf0zld5z 146 10 as as RB cord-035342-sf0zld5z 146 11 well well RB cord-035342-sf0zld5z 146 12 . . . cord-035342-sf0zld5z 147 1 Evidence evidence NN cord-035342-sf0zld5z 147 2 on on IN cord-035342-sf0zld5z 147 3 the the DT cord-035342-sf0zld5z 147 4 existence existence NN cord-035342-sf0zld5z 147 5 of of IN cord-035342-sf0zld5z 147 6 the the DT cord-035342-sf0zld5z 147 7 home home NN cord-035342-sf0zld5z 147 8 bias bias NN cord-035342-sf0zld5z 147 9 can can MD cord-035342-sf0zld5z 147 10 be be VB cord-035342-sf0zld5z 147 11 observed observe VBN cord-035342-sf0zld5z 147 12 in in IN cord-035342-sf0zld5z 147 13 most most JJS cord-035342-sf0zld5z 147 14 countries country NNS cord-035342-sf0zld5z 147 15 worldwide worldwide RB cord-035342-sf0zld5z 147 16 . . . cord-035342-sf0zld5z 148 1 French French NNP cord-035342-sf0zld5z 148 2 and and CC cord-035342-sf0zld5z 148 3 Poterba Poterba NNP cord-035342-sf0zld5z 148 4 ( ( -LRB- cord-035342-sf0zld5z 148 5 1991 1991 CD cord-035342-sf0zld5z 148 6 ) ) -RRB- cord-035342-sf0zld5z 148 7 , , , cord-035342-sf0zld5z 148 8 Cooper Cooper NNP cord-035342-sf0zld5z 148 9 and and CC cord-035342-sf0zld5z 148 10 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 148 11 ( ( -LRB- cord-035342-sf0zld5z 148 12 1994 1994 CD cord-035342-sf0zld5z 148 13 ) ) -RRB- cord-035342-sf0zld5z 148 14 , , , cord-035342-sf0zld5z 148 15 Tesar Tesar NNP cord-035342-sf0zld5z 148 16 and and CC cord-035342-sf0zld5z 148 17 Werner Werner NNP cord-035342-sf0zld5z 148 18 ( ( -LRB- cord-035342-sf0zld5z 148 19 1995 1995 CD cord-035342-sf0zld5z 148 20 ) ) -RRB- cord-035342-sf0zld5z 148 21 report report VBP cord-035342-sf0zld5z 148 22 evidence evidence NN cord-035342-sf0zld5z 148 23 for for IN cord-035342-sf0zld5z 148 24 OECD OECD NNP cord-035342-sf0zld5z 148 25 countries country NNS cord-035342-sf0zld5z 148 26 and and CC cord-035342-sf0zld5z 148 27 Stockman Stockman NNP cord-035342-sf0zld5z 148 28 and and CC cord-035342-sf0zld5z 148 29 Dellas Dellas NNP cord-035342-sf0zld5z 148 30 ( ( -LRB- cord-035342-sf0zld5z 148 31 1989 1989 CD cord-035342-sf0zld5z 148 32 ) ) -RRB- cord-035342-sf0zld5z 148 33 and and CC cord-035342-sf0zld5z 148 34 Dziuda Dziuda NNP cord-035342-sf0zld5z 148 35 and and CC cord-035342-sf0zld5z 148 36 Mondria Mondria NNP cord-035342-sf0zld5z 148 37 ( ( -LRB- cord-035342-sf0zld5z 148 38 2012 2012 CD cord-035342-sf0zld5z 148 39 ) ) -RRB- cord-035342-sf0zld5z 148 40 for for IN cord-035342-sf0zld5z 148 41 additional additional JJ cord-035342-sf0zld5z 148 42 countries country NNS cord-035342-sf0zld5z 148 43 . . . cord-035342-sf0zld5z 149 1 Oehler Oehler NNP cord-035342-sf0zld5z 149 2 et et NNP cord-035342-sf0zld5z 149 3 al al NNP cord-035342-sf0zld5z 149 4 . . . cord-035342-sf0zld5z 150 1 ( ( -LRB- cord-035342-sf0zld5z 150 2 2008 2008 CD cord-035342-sf0zld5z 150 3 ) ) -RRB- cord-035342-sf0zld5z 150 4 confirm confirm VB cord-035342-sf0zld5z 150 5 a a DT cord-035342-sf0zld5z 150 6 significant significant JJ cord-035342-sf0zld5z 150 7 home home NN cord-035342-sf0zld5z 150 8 bias bias NN cord-035342-sf0zld5z 150 9 of of IN cord-035342-sf0zld5z 150 10 German german JJ cord-035342-sf0zld5z 150 11 mutual mutual JJ cord-035342-sf0zld5z 150 12 fund fund NN cord-035342-sf0zld5z 150 13 investors investor NNS cord-035342-sf0zld5z 150 14 and and CC cord-035342-sf0zld5z 150 15 even even RB cord-035342-sf0zld5z 150 16 a a DT cord-035342-sf0zld5z 150 17 European european JJ cord-035342-sf0zld5z 150 18 home home NN cord-035342-sf0zld5z 150 19 bias bias NN cord-035342-sf0zld5z 150 20 . . . cord-035342-sf0zld5z 151 1 German german JJ cord-035342-sf0zld5z 151 2 mutual mutual JJ cord-035342-sf0zld5z 151 3 funds fund NNS cord-035342-sf0zld5z 151 4 not not RB cord-035342-sf0zld5z 151 5 only only RB cord-035342-sf0zld5z 151 6 hold hold VBP cord-035342-sf0zld5z 151 7 a a DT cord-035342-sf0zld5z 151 8 more more JJR cord-035342-sf0zld5z 151 9 - - HYPH cord-035342-sf0zld5z 151 10 than than IN cord-035342-sf0zld5z 151 11 - - HYPH cord-035342-sf0zld5z 151 12 optimal optimal JJ cord-035342-sf0zld5z 151 13 share share NN cord-035342-sf0zld5z 151 14 of of IN cord-035342-sf0zld5z 151 15 German german JJ cord-035342-sf0zld5z 151 16 assets asset NNS cord-035342-sf0zld5z 151 17 but but CC cord-035342-sf0zld5z 151 18 also also RB cord-035342-sf0zld5z 151 19 hold hold VBP cord-035342-sf0zld5z 151 20 higher high JJR cord-035342-sf0zld5z 151 21 - - HYPH cord-035342-sf0zld5z 151 22 than than IN cord-035342-sf0zld5z 151 23 - - HYPH cord-035342-sf0zld5z 151 24 optimal optimal JJ cord-035342-sf0zld5z 151 25 weights weight NNS cord-035342-sf0zld5z 151 26 of of IN cord-035342-sf0zld5z 151 27 other other JJ cord-035342-sf0zld5z 151 28 European european JJ cord-035342-sf0zld5z 151 29 countries country NNS cord-035342-sf0zld5z 151 30 ' ' POS cord-035342-sf0zld5z 151 31 assets asset NNS cord-035342-sf0zld5z 151 32 compared compare VBN cord-035342-sf0zld5z 151 33 to to IN cord-035342-sf0zld5z 151 34 the the DT cord-035342-sf0zld5z 151 35 world world NN cord-035342-sf0zld5z 151 36 market market NN cord-035342-sf0zld5z 151 37 portfolio portfolio NN cord-035342-sf0zld5z 151 38 . . . cord-035342-sf0zld5z 152 1 Lütje Lütje NNP cord-035342-sf0zld5z 152 2 and and CC cord-035342-sf0zld5z 152 3 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 152 4 ( ( -LRB- cord-035342-sf0zld5z 152 5 2007 2007 CD cord-035342-sf0zld5z 152 6 ) ) -RRB- cord-035342-sf0zld5z 152 7 also also RB cord-035342-sf0zld5z 152 8 prove prove VBP cord-035342-sf0zld5z 152 9 the the DT cord-035342-sf0zld5z 152 10 existence existence NN cord-035342-sf0zld5z 152 11 of of IN cord-035342-sf0zld5z 152 12 the the DT cord-035342-sf0zld5z 152 13 home home NN cord-035342-sf0zld5z 152 14 bias bias NN cord-035342-sf0zld5z 152 15 specifically specifically RB cord-035342-sf0zld5z 152 16 for for IN cord-035342-sf0zld5z 152 17 German german JJ cord-035342-sf0zld5z 152 18 investors investor NNS cord-035342-sf0zld5z 152 19 , , , cord-035342-sf0zld5z 152 20 Dahlquist Dahlquist NNP cord-035342-sf0zld5z 152 21 ( ( -LRB- cord-035342-sf0zld5z 152 22 2001 2001 CD cord-035342-sf0zld5z 152 23 ) ) -RRB- cord-035342-sf0zld5z 152 24 for for IN cord-035342-sf0zld5z 152 25 investments investment NNS cord-035342-sf0zld5z 152 26 in in IN cord-035342-sf0zld5z 152 27 Sweden Sweden NNP cord-035342-sf0zld5z 152 28 . . . cord-035342-sf0zld5z 153 1 Lippi Lippi NNP cord-035342-sf0zld5z 153 2 ( ( -LRB- cord-035342-sf0zld5z 153 3 2016 2016 CD cord-035342-sf0zld5z 153 4 ) ) -RRB- cord-035342-sf0zld5z 153 5 confirms confirm VBZ cord-035342-sf0zld5z 153 6 home home NN cord-035342-sf0zld5z 153 7 bias bias NN cord-035342-sf0zld5z 153 8 for for IN cord-035342-sf0zld5z 153 9 Italian italian JJ cord-035342-sf0zld5z 153 10 professional professional JJ cord-035342-sf0zld5z 153 11 occupational occupational JJ cord-035342-sf0zld5z 153 12 pension pension NN cord-035342-sf0zld5z 153 13 fund fund NN cord-035342-sf0zld5z 153 14 managers manager NNS cord-035342-sf0zld5z 153 15 investing invest VBG cord-035342-sf0zld5z 153 16 in in IN cord-035342-sf0zld5z 153 17 government government NN cord-035342-sf0zld5z 153 18 securities security NNS cord-035342-sf0zld5z 153 19 , , , cord-035342-sf0zld5z 153 20 corporate corporate JJ cord-035342-sf0zld5z 153 21 bonds bond NNS cord-035342-sf0zld5z 153 22 and and CC cord-035342-sf0zld5z 153 23 equities equity NNS cord-035342-sf0zld5z 153 24 . . . cord-035342-sf0zld5z 154 1 Relating relate VBG cord-035342-sf0zld5z 154 2 to to IN cord-035342-sf0zld5z 154 3 different different JJ cord-035342-sf0zld5z 154 4 asset asset NN cord-035342-sf0zld5z 154 5 types type NNS cord-035342-sf0zld5z 154 6 , , , cord-035342-sf0zld5z 154 7 the the DT cord-035342-sf0zld5z 154 8 existence existence NN cord-035342-sf0zld5z 154 9 of of IN cord-035342-sf0zld5z 154 10 a a DT cord-035342-sf0zld5z 154 11 home home NN cord-035342-sf0zld5z 154 12 bias bias NN cord-035342-sf0zld5z 154 13 has have VBZ cord-035342-sf0zld5z 154 14 been be VBN cord-035342-sf0zld5z 154 15 underlined underline VBN cord-035342-sf0zld5z 154 16 for for IN cord-035342-sf0zld5z 154 17 equities equity NNS cord-035342-sf0zld5z 154 18 ( ( -LRB- cord-035342-sf0zld5z 154 19 Bradshaw Bradshaw NNP cord-035342-sf0zld5z 154 20 et et NNP cord-035342-sf0zld5z 154 21 al al NNP cord-035342-sf0zld5z 154 22 . . . cord-035342-sf0zld5z 154 23 2004 2004 CD cord-035342-sf0zld5z 154 24 ; ; : cord-035342-sf0zld5z 154 25 Diyarbakirlioglu Diyarbakirlioglu NNP cord-035342-sf0zld5z 154 26 2011 2011 CD cord-035342-sf0zld5z 154 27 ; ; : cord-035342-sf0zld5z 154 28 Tesar Tesar NNP cord-035342-sf0zld5z 154 29 and and CC cord-035342-sf0zld5z 154 30 Werner Werner NNP cord-035342-sf0zld5z 154 31 1995 1995 CD cord-035342-sf0zld5z 154 32 ) ) -RRB- cord-035342-sf0zld5z 154 33 , , , cord-035342-sf0zld5z 154 34 bonds bond NNS cord-035342-sf0zld5z 154 35 ( ( -LRB- cord-035342-sf0zld5z 154 36 Fidora Fidora NNP cord-035342-sf0zld5z 154 37 et et NNP cord-035342-sf0zld5z 154 38 al al NNP cord-035342-sf0zld5z 154 39 . . NNP cord-035342-sf0zld5z 154 40 2007 2007 CD cord-035342-sf0zld5z 154 41 ; ; : cord-035342-sf0zld5z 154 42 Solnik Solnik NNP cord-035342-sf0zld5z 154 43 and and CC cord-035342-sf0zld5z 154 44 Zuo Zuo NNP cord-035342-sf0zld5z 154 45 2016 2016 CD cord-035342-sf0zld5z 154 46 ; ; : cord-035342-sf0zld5z 154 47 Tse Tse NNP cord-035342-sf0zld5z 154 48 1999 1999 CD cord-035342-sf0zld5z 154 49 ; ; : cord-035342-sf0zld5z 154 50 Ferreira Ferreira NNP cord-035342-sf0zld5z 154 51 and and CC cord-035342-sf0zld5z 154 52 Miguel Miguel NNP cord-035342-sf0zld5z 154 53 2011 2011 CD cord-035342-sf0zld5z 154 54 ; ; : cord-035342-sf0zld5z 154 55 Tesar Tesar NNP cord-035342-sf0zld5z 154 56 and and CC cord-035342-sf0zld5z 154 57 Werner Werner NNP cord-035342-sf0zld5z 154 58 1995 1995 CD cord-035342-sf0zld5z 154 59 ) ) -RRB- cord-035342-sf0zld5z 154 60 , , , cord-035342-sf0zld5z 154 61 real real JJ cord-035342-sf0zld5z 154 62 estate estate NN cord-035342-sf0zld5z 154 63 ( ( -LRB- cord-035342-sf0zld5z 154 64 Imazeki Imazeki NNP cord-035342-sf0zld5z 154 65 and and CC cord-035342-sf0zld5z 154 66 Gallimore Gallimore NNP cord-035342-sf0zld5z 154 67 2009 2009 CD cord-035342-sf0zld5z 154 68 ; ; : cord-035342-sf0zld5z 154 69 Eichholtz Eichholtz NNP cord-035342-sf0zld5z 154 70 et et NNP cord-035342-sf0zld5z 154 71 al al NNP cord-035342-sf0zld5z 154 72 . . NNP cord-035342-sf0zld5z 154 73 2001 2001 CD cord-035342-sf0zld5z 154 74 ) ) -RRB- cord-035342-sf0zld5z 154 75 and and CC cord-035342-sf0zld5z 154 76 mutual mutual JJ cord-035342-sf0zld5z 154 77 funds fund NNS cord-035342-sf0zld5z 154 78 ( ( -LRB- cord-035342-sf0zld5z 154 79 Coval Coval NNP cord-035342-sf0zld5z 154 80 and and CC cord-035342-sf0zld5z 154 81 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 154 82 1999 1999 CD cord-035342-sf0zld5z 154 83 ; ; : cord-035342-sf0zld5z 154 84 Giannetti Giannetti NNP cord-035342-sf0zld5z 154 85 and and CC cord-035342-sf0zld5z 154 86 Laeven Laeven NNP cord-035342-sf0zld5z 154 87 2016 2016 CD cord-035342-sf0zld5z 154 88 ; ; : cord-035342-sf0zld5z 155 1 Lütje Lütje NNP cord-035342-sf0zld5z 155 2 and and CC cord-035342-sf0zld5z 155 3 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 155 4 2007 2007 CD cord-035342-sf0zld5z 155 5 ; ; : cord-035342-sf0zld5z 155 6 Oehler Oehler NNP cord-035342-sf0zld5z 155 7 et et NNP cord-035342-sf0zld5z 155 8 al al NNP cord-035342-sf0zld5z 155 9 . . NNP cord-035342-sf0zld5z 155 10 2008 2008 CD cord-035342-sf0zld5z 155 11 ) ) -RRB- cord-035342-sf0zld5z 155 12 . . . cord-035342-sf0zld5z 156 1 There there EX cord-035342-sf0zld5z 156 2 is be VBZ cord-035342-sf0zld5z 156 3 also also RB cord-035342-sf0zld5z 156 4 much much JJ cord-035342-sf0zld5z 156 5 evidence evidence NN cord-035342-sf0zld5z 156 6 of of IN cord-035342-sf0zld5z 156 7 the the DT cord-035342-sf0zld5z 156 8 existence existence NN cord-035342-sf0zld5z 156 9 of of IN cord-035342-sf0zld5z 156 10 the the DT cord-035342-sf0zld5z 156 11 intra intra JJ cord-035342-sf0zld5z 156 12 - - JJ cord-035342-sf0zld5z 156 13 national national JJ cord-035342-sf0zld5z 156 14 local local JJ cord-035342-sf0zld5z 156 15 bias bias NN cord-035342-sf0zld5z 156 16 . . . cord-035342-sf0zld5z 157 1 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 157 2 ( ( -LRB- cord-035342-sf0zld5z 157 3 1999 1999 CD cord-035342-sf0zld5z 157 4 , , , cord-035342-sf0zld5z 157 5 2001 2001 CD cord-035342-sf0zld5z 157 6 ) ) -RRB- cord-035342-sf0zld5z 157 7 document document NN cord-035342-sf0zld5z 157 8 a a DT cord-035342-sf0zld5z 157 9 local local JJ cord-035342-sf0zld5z 157 10 bias bias NN cord-035342-sf0zld5z 157 11 for for IN cord-035342-sf0zld5z 157 12 mutual mutual JJ cord-035342-sf0zld5z 157 13 funds fund NNS cord-035342-sf0zld5z 157 14 . . . cord-035342-sf0zld5z 158 1 Amongst amongst IN cord-035342-sf0zld5z 158 2 others other NNS cord-035342-sf0zld5z 158 3 , , , cord-035342-sf0zld5z 158 4 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 158 5 and and CC cord-035342-sf0zld5z 158 6 Weisbenner Weisbenner NNP cord-035342-sf0zld5z 158 7 ( ( -LRB- cord-035342-sf0zld5z 158 8 2005 2005 CD cord-035342-sf0zld5z 158 9 ) ) -RRB- cord-035342-sf0zld5z 158 10 , , , cord-035342-sf0zld5z 158 11 Seasholes Seasholes NNP cord-035342-sf0zld5z 158 12 and and CC cord-035342-sf0zld5z 158 13 Zhu Zhu NNP cord-035342-sf0zld5z 158 14 ( ( -LRB- cord-035342-sf0zld5z 158 15 2010 2010 CD cord-035342-sf0zld5z 158 16 ) ) -RRB- cord-035342-sf0zld5z 158 17 , , , cord-035342-sf0zld5z 158 18 Huberman Huberman NNP cord-035342-sf0zld5z 158 19 ( ( -LRB- cord-035342-sf0zld5z 158 20 2001 2001 CD cord-035342-sf0zld5z 158 21 ) ) -RRB- cord-035342-sf0zld5z 158 22 as as RB cord-035342-sf0zld5z 158 23 well well RB cord-035342-sf0zld5z 158 24 as as IN cord-035342-sf0zld5z 158 25 Hong Hong NNP cord-035342-sf0zld5z 158 26 et et NNP cord-035342-sf0zld5z 158 27 al al NNP cord-035342-sf0zld5z 158 28 . . . cord-035342-sf0zld5z 159 1 ( ( -LRB- cord-035342-sf0zld5z 159 2 2005 2005 CD cord-035342-sf0zld5z 159 3 ) ) -RRB- cord-035342-sf0zld5z 159 4 confirm confirm VB cord-035342-sf0zld5z 159 5 the the DT cord-035342-sf0zld5z 159 6 existence existence NN cord-035342-sf0zld5z 159 7 of of IN cord-035342-sf0zld5z 159 8 a a DT cord-035342-sf0zld5z 159 9 local local JJ cord-035342-sf0zld5z 159 10 bias bias NN cord-035342-sf0zld5z 159 11 of of IN cord-035342-sf0zld5z 159 12 individual individual JJ cord-035342-sf0zld5z 159 13 U.S. U.S. NNP cord-035342-sf0zld5z 159 14 investors investor NNS cord-035342-sf0zld5z 159 15 . . . cord-035342-sf0zld5z 160 1 Grinblatt Grinblatt NNP cord-035342-sf0zld5z 160 2 and and CC cord-035342-sf0zld5z 160 3 Keloharju Keloharju NNP cord-035342-sf0zld5z 160 4 ( ( -LRB- cord-035342-sf0zld5z 160 5 2001 2001 CD cord-035342-sf0zld5z 160 6 ) ) -RRB- cord-035342-sf0zld5z 160 7 prove prove VB cord-035342-sf0zld5z 160 8 a a DT cord-035342-sf0zld5z 160 9 significant significant JJ cord-035342-sf0zld5z 160 10 local local JJ cord-035342-sf0zld5z 160 11 bias bias NN cord-035342-sf0zld5z 160 12 of of IN cord-035342-sf0zld5z 160 13 Finish Finish NNP cord-035342-sf0zld5z 160 14 investors investor NNS cord-035342-sf0zld5z 160 15 , , , cord-035342-sf0zld5z 160 16 Kang Kang NNP cord-035342-sf0zld5z 160 17 and and CC cord-035342-sf0zld5z 160 18 Stulz Stulz NNP cord-035342-sf0zld5z 160 19 ( ( -LRB- cord-035342-sf0zld5z 160 20 1997 1997 CD cord-035342-sf0zld5z 160 21 ) ) -RRB- cord-035342-sf0zld5z 160 22 for for IN cord-035342-sf0zld5z 160 23 Japanese Japanese NNP cord-035342-sf0zld5z 160 24 . . . cord-035342-sf0zld5z 161 1 For for IN cord-035342-sf0zld5z 161 2 German german JJ cord-035342-sf0zld5z 161 3 individual individual JJ cord-035342-sf0zld5z 161 4 investors investor NNS cord-035342-sf0zld5z 161 5 , , , cord-035342-sf0zld5z 161 6 Baltzer Baltzer NNP cord-035342-sf0zld5z 161 7 et et NNP cord-035342-sf0zld5z 161 8 al al NNP cord-035342-sf0zld5z 161 9 . . . cord-035342-sf0zld5z 162 1 ( ( -LRB- cord-035342-sf0zld5z 162 2 2013 2013 CD cord-035342-sf0zld5z 162 3 ) ) -RRB- cord-035342-sf0zld5z 162 4 also also RB cord-035342-sf0zld5z 162 5 document document VBP cord-035342-sf0zld5z 162 6 a a DT cord-035342-sf0zld5z 162 7 local local JJ cord-035342-sf0zld5z 162 8 bias bias NN cord-035342-sf0zld5z 162 9 . . . cord-035342-sf0zld5z 163 1 Parwada Parwada NNP cord-035342-sf0zld5z 163 2 ( ( -LRB- cord-035342-sf0zld5z 163 3 2008 2008 CD cord-035342-sf0zld5z 163 4 ) ) -RRB- cord-035342-sf0zld5z 163 5 examines examine VBZ cord-035342-sf0zld5z 163 6 the the DT cord-035342-sf0zld5z 163 7 location location NN cord-035342-sf0zld5z 163 8 and and CC cord-035342-sf0zld5z 163 9 portfolio portfolio NN cord-035342-sf0zld5z 163 10 choice choice NN cord-035342-sf0zld5z 163 11 of of IN cord-035342-sf0zld5z 163 12 investment investment NN cord-035342-sf0zld5z 163 13 start start NN cord-035342-sf0zld5z 163 14 - - HYPH cord-035342-sf0zld5z 163 15 ups up NNS cord-035342-sf0zld5z 163 16 . . . cord-035342-sf0zld5z 164 1 The the DT cord-035342-sf0zld5z 164 2 degree degree NN cord-035342-sf0zld5z 164 3 of of IN cord-035342-sf0zld5z 164 4 startups startup NNS cord-035342-sf0zld5z 164 5 ' ' POS cord-035342-sf0zld5z 164 6 local local JJ cord-035342-sf0zld5z 164 7 bias bias NN cord-035342-sf0zld5z 164 8 is be VBZ cord-035342-sf0zld5z 164 9 three three CD cord-035342-sf0zld5z 164 10 times time NNS cord-035342-sf0zld5z 164 11 higher high JJR cord-035342-sf0zld5z 164 12 than than IN cord-035342-sf0zld5z 164 13 the the DT cord-035342-sf0zld5z 164 14 local local JJ cord-035342-sf0zld5z 164 15 bias bias NN cord-035342-sf0zld5z 164 16 extent extent NN cord-035342-sf0zld5z 164 17 reported report VBN cord-035342-sf0zld5z 164 18 by by IN cord-035342-sf0zld5z 164 19 Coval Coval NNP cord-035342-sf0zld5z 164 20 and and CC cord-035342-sf0zld5z 164 21 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 164 22 ( ( -LRB- cord-035342-sf0zld5z 164 23 2001 2001 CD cord-035342-sf0zld5z 164 24 ) ) -RRB- cord-035342-sf0zld5z 164 25 . . . cord-035342-sf0zld5z 165 1 Pool pool NN cord-035342-sf0zld5z 165 2 et et NNP cord-035342-sf0zld5z 165 3 al al NNP cord-035342-sf0zld5z 165 4 . . . cord-035342-sf0zld5z 166 1 ( ( -LRB- cord-035342-sf0zld5z 166 2 2012 2012 CD cord-035342-sf0zld5z 166 3 ) ) -RRB- cord-035342-sf0zld5z 166 4 show show VBP cord-035342-sf0zld5z 166 5 that that IN cord-035342-sf0zld5z 166 6 mutual mutual JJ cord-035342-sf0zld5z 166 7 fund fund NN cord-035342-sf0zld5z 166 8 managers manager NNS cord-035342-sf0zld5z 166 9 in in IN cord-035342-sf0zld5z 166 10 the the DT cord-035342-sf0zld5z 166 11 U.S. U.S. NNP cord-035342-sf0zld5z 166 12 overweight overweight JJ cord-035342-sf0zld5z 166 13 their -PRON- PRP$ cord-035342-sf0zld5z 166 14 home home NN cord-035342-sf0zld5z 166 15 states state NNS cord-035342-sf0zld5z 166 16 where where WRB cord-035342-sf0zld5z 166 17 they -PRON- PRP cord-035342-sf0zld5z 166 18 come come VBP cord-035342-sf0zld5z 166 19 from from IN cord-035342-sf0zld5z 166 20 . . . cord-035342-sf0zld5z 167 1 The the DT cord-035342-sf0zld5z 167 2 degree degree NN cord-035342-sf0zld5z 167 3 of of IN cord-035342-sf0zld5z 167 4 local local JJ cord-035342-sf0zld5z 167 5 bias bias NN cord-035342-sf0zld5z 167 6 is be VBZ cord-035342-sf0zld5z 167 7 hardly hardly RB cord-035342-sf0zld5z 167 8 measurable measurable JJ cord-035342-sf0zld5z 167 9 and and CC cord-035342-sf0zld5z 167 10 measurements measurement NNS cord-035342-sf0zld5z 167 11 are be VBP cord-035342-sf0zld5z 167 12 even even RB cord-035342-sf0zld5z 167 13 worse bad JJR cord-035342-sf0zld5z 167 14 to to TO cord-035342-sf0zld5z 167 15 compare compare VB cord-035342-sf0zld5z 167 16 to to IN cord-035342-sf0zld5z 167 17 each each DT cord-035342-sf0zld5z 167 18 other other JJ cord-035342-sf0zld5z 167 19 because because IN cord-035342-sf0zld5z 167 20 local local JJ cord-035342-sf0zld5z 167 21 ( ( -LRB- cord-035342-sf0zld5z 167 22 or or CC cord-035342-sf0zld5z 167 23 regional regional JJ cord-035342-sf0zld5z 167 24 ) ) -RRB- cord-035342-sf0zld5z 167 25 is be VBZ cord-035342-sf0zld5z 167 26 not not RB cord-035342-sf0zld5z 167 27 a a DT cord-035342-sf0zld5z 167 28 clearly clearly RB cord-035342-sf0zld5z 167 29 defined define VBN cord-035342-sf0zld5z 167 30 area area NN cord-035342-sf0zld5z 167 31 , , , cord-035342-sf0zld5z 167 32 in in IN cord-035342-sf0zld5z 167 33 particular particular JJ cord-035342-sf0zld5z 167 34 compared compare VBN cord-035342-sf0zld5z 167 35 to to IN cord-035342-sf0zld5z 167 36 home home NN cord-035342-sf0zld5z 167 37 bias bias NN cord-035342-sf0zld5z 167 38 for for IN cord-035342-sf0zld5z 167 39 which which WDT cord-035342-sf0zld5z 167 40 the the DT cord-035342-sf0zld5z 167 41 borders border NNS cord-035342-sf0zld5z 167 42 ( ( -LRB- cord-035342-sf0zld5z 167 43 of of IN cord-035342-sf0zld5z 167 44 a a DT cord-035342-sf0zld5z 167 45 country country NN cord-035342-sf0zld5z 167 46 ) ) -RRB- cord-035342-sf0zld5z 167 47 are be VBP cord-035342-sf0zld5z 167 48 clearly clearly RB cord-035342-sf0zld5z 167 49 determined determine VBN cord-035342-sf0zld5z 167 50 . . . cord-035342-sf0zld5z 168 1 4 4 LS cord-035342-sf0zld5z 168 2 Additionally additionally RB cord-035342-sf0zld5z 168 3 , , , cord-035342-sf0zld5z 168 4 it -PRON- PRP cord-035342-sf0zld5z 168 5 is be VBZ cord-035342-sf0zld5z 168 6 hard hard JJ cord-035342-sf0zld5z 168 7 to to TO cord-035342-sf0zld5z 168 8 determine determine VB cord-035342-sf0zld5z 168 9 a a DT cord-035342-sf0zld5z 168 10 comparing comparing NN cord-035342-sf0zld5z 168 11 , , , cord-035342-sf0zld5z 168 12 well well RB cord-035342-sf0zld5z 168 13 - - HYPH cord-035342-sf0zld5z 168 14 diversified diversify VBN cord-035342-sf0zld5z 168 15 portfolio portfolio NN cord-035342-sf0zld5z 168 16 which which WDT cord-035342-sf0zld5z 168 17 is be VBZ cord-035342-sf0zld5z 168 18 crucial crucial JJ cord-035342-sf0zld5z 168 19 to to IN cord-035342-sf0zld5z 168 20 measuring measure VBG cord-035342-sf0zld5z 168 21 the the DT cord-035342-sf0zld5z 168 22 degree degree NN cord-035342-sf0zld5z 168 23 of of IN cord-035342-sf0zld5z 168 24 the the DT cord-035342-sf0zld5z 168 25 bias bias NN cord-035342-sf0zld5z 168 26 . . . cord-035342-sf0zld5z 169 1 In in IN cord-035342-sf0zld5z 169 2 contrary contrary NN cord-035342-sf0zld5z 169 3 , , , cord-035342-sf0zld5z 169 4 the the DT cord-035342-sf0zld5z 169 5 home home NN cord-035342-sf0zld5z 169 6 bias bias NN cord-035342-sf0zld5z 169 7 can can MD cord-035342-sf0zld5z 169 8 be be VB cord-035342-sf0zld5z 169 9 measured measure VBN cord-035342-sf0zld5z 169 10 much much RB cord-035342-sf0zld5z 169 11 better well RBR cord-035342-sf0zld5z 169 12 . . . cord-035342-sf0zld5z 170 1 In in IN cord-035342-sf0zld5z 170 2 their -PRON- PRP$ cord-035342-sf0zld5z 170 3 basic basic JJ cord-035342-sf0zld5z 170 4 work work NN cord-035342-sf0zld5z 170 5 on on IN cord-035342-sf0zld5z 170 6 the the DT cord-035342-sf0zld5z 170 7 home home NN cord-035342-sf0zld5z 170 8 bias bias NN cord-035342-sf0zld5z 170 9 , , , cord-035342-sf0zld5z 170 10 French French NNP cord-035342-sf0zld5z 170 11 and and CC cord-035342-sf0zld5z 170 12 Poterba Poterba NNP cord-035342-sf0zld5z 170 13 ( ( -LRB- cord-035342-sf0zld5z 170 14 1991 1991 CD cord-035342-sf0zld5z 170 15 ) ) -RRB- cord-035342-sf0zld5z 170 16 show show VBP cord-035342-sf0zld5z 170 17 the the DT cord-035342-sf0zld5z 170 18 degree degree NN cord-035342-sf0zld5z 170 19 of of IN cord-035342-sf0zld5z 170 20 home home NN cord-035342-sf0zld5z 170 21 bias bias NN cord-035342-sf0zld5z 170 22 for for IN cord-035342-sf0zld5z 170 23 three three CD cord-035342-sf0zld5z 170 24 countries country NNS cord-035342-sf0zld5z 170 25 based base VBN cord-035342-sf0zld5z 170 26 on on IN cord-035342-sf0zld5z 170 27 data datum NNS cord-035342-sf0zld5z 170 28 from from IN cord-035342-sf0zld5z 170 29 the the DT cord-035342-sf0zld5z 170 30 end end NN cord-035342-sf0zld5z 170 31 of of IN cord-035342-sf0zld5z 170 32 1989 1989 CD cord-035342-sf0zld5z 170 33 . . . cord-035342-sf0zld5z 171 1 U.S. U.S. NNP cord-035342-sf0zld5z 171 2 investors investor NNS cord-035342-sf0zld5z 171 3 invest invest VBP cord-035342-sf0zld5z 171 4 93.8 93.8 CD cord-035342-sf0zld5z 171 5 % % NN cord-035342-sf0zld5z 171 6 domestically domestically RB cord-035342-sf0zld5z 171 7 , , , cord-035342-sf0zld5z 171 8 Japanese japanese JJ cord-035342-sf0zld5z 171 9 98.11 98.11 CD cord-035342-sf0zld5z 171 10 % % NN cord-035342-sf0zld5z 171 11 and and CC cord-035342-sf0zld5z 171 12 UK UK NNP cord-035342-sf0zld5z 171 13 investors investor NNS cord-035342-sf0zld5z 171 14 just just RB cord-035342-sf0zld5z 171 15 82 82 CD cord-035342-sf0zld5z 171 16 % % NN cord-035342-sf0zld5z 171 17 of of IN cord-035342-sf0zld5z 171 18 their -PRON- PRP$ cord-035342-sf0zld5z 171 19 equity equity NN cord-035342-sf0zld5z 171 20 portfolios portfolio NNS cord-035342-sf0zld5z 171 21 . . . cord-035342-sf0zld5z 172 1 The the DT cord-035342-sf0zld5z 172 2 lower low JJR cord-035342-sf0zld5z 172 3 level level NN cord-035342-sf0zld5z 172 4 of of IN cord-035342-sf0zld5z 172 5 British british JJ cord-035342-sf0zld5z 172 6 domestic domestic JJ cord-035342-sf0zld5z 172 7 investments investment NNS cord-035342-sf0zld5z 172 8 was be VBD cord-035342-sf0zld5z 172 9 due due JJ cord-035342-sf0zld5z 172 10 to to IN cord-035342-sf0zld5z 172 11 " " `` cord-035342-sf0zld5z 172 12 Prime Prime NNP cord-035342-sf0zld5z 172 13 Minister Minister NNP cord-035342-sf0zld5z 172 14 Thatcher Thatcher NNP cord-035342-sf0zld5z 172 15 's 's POS cord-035342-sf0zld5z 172 16 relaxation relaxation NN cord-035342-sf0zld5z 172 17 of of IN cord-035342-sf0zld5z 172 18 capital capital NN cord-035342-sf0zld5z 172 19 control control NN cord-035342-sf0zld5z 172 20 " " '' cord-035342-sf0zld5z 172 21 ( ( -LRB- cord-035342-sf0zld5z 172 22 French French NNP cord-035342-sf0zld5z 172 23 and and CC cord-035342-sf0zld5z 172 24 Poterba Poterba NNP cord-035342-sf0zld5z 172 25 1991 1991 CD cord-035342-sf0zld5z 172 26 , , , cord-035342-sf0zld5z 172 27 p. p. NN cord-035342-sf0zld5z 172 28 223 223 CD cord-035342-sf0zld5z 172 29 ) ) -RRB- cord-035342-sf0zld5z 172 30 . . . cord-035342-sf0zld5z 173 1 These these DT cord-035342-sf0zld5z 173 2 figures figure NNS cord-035342-sf0zld5z 173 3 underline underline VBP cord-035342-sf0zld5z 173 4 that that IN cord-035342-sf0zld5z 173 5 there there EX cord-035342-sf0zld5z 173 6 is be VBZ cord-035342-sf0zld5z 173 7 a a DT cord-035342-sf0zld5z 173 8 home home NN cord-035342-sf0zld5z 173 9 bias bias NN cord-035342-sf0zld5z 173 10 , , , cord-035342-sf0zld5z 173 11 but but CC cord-035342-sf0zld5z 173 12 the the DT cord-035342-sf0zld5z 173 13 figures figure NNS cord-035342-sf0zld5z 173 14 do do VBP cord-035342-sf0zld5z 173 15 not not RB cord-035342-sf0zld5z 173 16 take take VB cord-035342-sf0zld5z 173 17 into into IN cord-035342-sf0zld5z 173 18 account account NN cord-035342-sf0zld5z 173 19 the the DT cord-035342-sf0zld5z 173 20 optimal optimal JJ cord-035342-sf0zld5z 173 21 weight weight NN cord-035342-sf0zld5z 173 22 of of IN cord-035342-sf0zld5z 173 23 every every DT cord-035342-sf0zld5z 173 24 country country NN cord-035342-sf0zld5z 173 25 in in IN cord-035342-sf0zld5z 173 26 a a DT cord-035342-sf0zld5z 173 27 well well RB cord-035342-sf0zld5z 173 28 - - HYPH cord-035342-sf0zld5z 173 29 diversified diversify VBN cord-035342-sf0zld5z 173 30 portfolio portfolio NN cord-035342-sf0zld5z 173 31 . . . cord-035342-sf0zld5z 174 1 Also also RB cord-035342-sf0zld5z 174 2 with with IN cord-035342-sf0zld5z 174 3 data datum NNS cord-035342-sf0zld5z 174 4 from from IN cord-035342-sf0zld5z 174 5 the the DT cord-035342-sf0zld5z 174 6 end end NN cord-035342-sf0zld5z 174 7 of of IN cord-035342-sf0zld5z 174 8 the the DT cord-035342-sf0zld5z 174 9 1980s 1980 NNS cord-035342-sf0zld5z 174 10 , , , cord-035342-sf0zld5z 174 11 Cooper Cooper NNP cord-035342-sf0zld5z 174 12 and and CC cord-035342-sf0zld5z 174 13 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 174 14 ( ( -LRB- cord-035342-sf0zld5z 174 15 1994 1994 CD cord-035342-sf0zld5z 174 16 , , , cord-035342-sf0zld5z 174 17 p. p. NN cord-035342-sf0zld5z 174 18 46 46 CD cord-035342-sf0zld5z 174 19 ) ) -RRB- cord-035342-sf0zld5z 174 20 support support VBP cord-035342-sf0zld5z 174 21 the the DT cord-035342-sf0zld5z 174 22 results result NNS cord-035342-sf0zld5z 174 23 of of IN cord-035342-sf0zld5z 174 24 French French NNP cord-035342-sf0zld5z 174 25 and and CC cord-035342-sf0zld5z 174 26 Poterba Poterba NNP cord-035342-sf0zld5z 174 27 ( ( -LRB- cord-035342-sf0zld5z 174 28 1991 1991 CD cord-035342-sf0zld5z 174 29 ) ) -RRB- cord-035342-sf0zld5z 174 30 but but CC cord-035342-sf0zld5z 174 31 calculate calculate VB cord-035342-sf0zld5z 174 32 a a DT cord-035342-sf0zld5z 174 33 better well RBR cord-035342-sf0zld5z 174 34 comparable comparable JJ cord-035342-sf0zld5z 174 35 measure measure NN cord-035342-sf0zld5z 174 36 of of IN cord-035342-sf0zld5z 174 37 the the DT cord-035342-sf0zld5z 174 38 home home NN cord-035342-sf0zld5z 174 39 bias bias NN cord-035342-sf0zld5z 174 40 by by IN cord-035342-sf0zld5z 174 41 calculating calculate VBG cord-035342-sf0zld5z 174 42 the the DT cord-035342-sf0zld5z 174 43 " " `` cord-035342-sf0zld5z 174 44 domestic domestic JJ cord-035342-sf0zld5z 174 45 equities equity NNS cord-035342-sf0zld5z 174 46 relative relative JJ cord-035342-sf0zld5z 174 47 to to IN cord-035342-sf0zld5z 174 48 the the DT cord-035342-sf0zld5z 174 49 proportion proportion NN cord-035342-sf0zld5z 174 50 of of IN cord-035342-sf0zld5z 174 51 domestic domestic JJ cord-035342-sf0zld5z 174 52 equities equity NNS cord-035342-sf0zld5z 174 53 in in IN cord-035342-sf0zld5z 174 54 the the DT cord-035342-sf0zld5z 174 55 world world NN cord-035342-sf0zld5z 174 56 market market NN cord-035342-sf0zld5z 174 57 portfolio portfolio NN cord-035342-sf0zld5z 174 58 " " '' cord-035342-sf0zld5z 174 59 : : : cord-035342-sf0zld5z 174 60 US US NNP cord-035342-sf0zld5z 174 61 98 98 CD cord-035342-sf0zld5z 174 62 % % NN cord-035342-sf0zld5z 174 63 , , , cord-035342-sf0zld5z 174 64 UK UK NNP cord-035342-sf0zld5z 174 65 78.5 78.5 CD cord-035342-sf0zld5z 174 66 % % NN cord-035342-sf0zld5z 174 67 , , , cord-035342-sf0zld5z 174 68 Japan Japan NNP cord-035342-sf0zld5z 174 69 86.7 86.7 CD cord-035342-sf0zld5z 174 70 % % NN cord-035342-sf0zld5z 174 71 , , , cord-035342-sf0zld5z 174 72 Germany Germany NNP cord-035342-sf0zld5z 174 73 75.4 75.4 CD cord-035342-sf0zld5z 174 74 % % NN cord-035342-sf0zld5z 174 75 , , , cord-035342-sf0zld5z 174 76 France France NNP cord-035342-sf0zld5z 174 77 64.4 64.4 CD cord-035342-sf0zld5z 174 78 % % NN cord-035342-sf0zld5z 174 79 and and CC cord-035342-sf0zld5z 174 80 Sweden Sweden NNP cord-035342-sf0zld5z 174 81 even even RB cord-035342-sf0zld5z 174 82 100 100 CD cord-035342-sf0zld5z 174 83 % % NN cord-035342-sf0zld5z 174 84 . . . cord-035342-sf0zld5z 175 1 Still still RB cord-035342-sf0zld5z 175 2 , , , cord-035342-sf0zld5z 175 3 the the DT cord-035342-sf0zld5z 175 4 home home NN cord-035342-sf0zld5z 175 5 bias bias NN cord-035342-sf0zld5z 175 6 remains remain VBZ cord-035342-sf0zld5z 175 7 significant significant JJ cord-035342-sf0zld5z 175 8 and and CC cord-035342-sf0zld5z 175 9 strong strong JJ cord-035342-sf0zld5z 175 10 . . . cord-035342-sf0zld5z 176 1 Nowadays nowadays RB cord-035342-sf0zld5z 176 2 , , , cord-035342-sf0zld5z 176 3 5 5 CD cord-035342-sf0zld5z 176 4 home home NN cord-035342-sf0zld5z 176 5 bias bias NN cord-035342-sf0zld5z 176 6 is be VBZ cord-035342-sf0zld5z 176 7 measured measure VBN cord-035342-sf0zld5z 176 8 with with IN cord-035342-sf0zld5z 176 9 numerous numerous JJ cord-035342-sf0zld5z 176 10 approaches approach NNS cord-035342-sf0zld5z 176 11 ( ( -LRB- cord-035342-sf0zld5z 176 12 some some DT cord-035342-sf0zld5z 176 13 just just RB cord-035342-sf0zld5z 176 14 slightly slightly RB cord-035342-sf0zld5z 176 15 different different JJ cord-035342-sf0zld5z 176 16 to to IN cord-035342-sf0zld5z 176 17 others other NNS cord-035342-sf0zld5z 176 18 ) ) -RRB- cord-035342-sf0zld5z 176 19 . . . cord-035342-sf0zld5z 177 1 Table table NN cord-035342-sf0zld5z 177 2 1 1 CD cord-035342-sf0zld5z 177 3 gives give VBZ cord-035342-sf0zld5z 177 4 an an DT cord-035342-sf0zld5z 177 5 overview overview NN cord-035342-sf0zld5z 177 6 about about IN cord-035342-sf0zld5z 177 7 the the DT cord-035342-sf0zld5z 177 8 results result NNS cord-035342-sf0zld5z 177 9 of of IN cord-035342-sf0zld5z 177 10 home home NN cord-035342-sf0zld5z 177 11 Table table NN cord-035342-sf0zld5z 177 12 1 1 CD cord-035342-sf0zld5z 177 13 Different different JJ cord-035342-sf0zld5z 177 14 measurements measurement NNS cord-035342-sf0zld5z 177 15 of of IN cord-035342-sf0zld5z 177 16 home home NN cord-035342-sf0zld5z 177 17 bias bias NN cord-035342-sf0zld5z 177 18 for for IN cord-035342-sf0zld5z 177 19 selected select VBN cord-035342-sf0zld5z 177 20 countries country NNS cord-035342-sf0zld5z 177 21 The the DT cord-035342-sf0zld5z 177 22 ' ' `` cord-035342-sf0zld5z 177 23 own own JJ cord-035342-sf0zld5z 177 24 calculations calculation NNS cord-035342-sf0zld5z 177 25 ' ' '' cord-035342-sf0zld5z 177 26 are be VBP cord-035342-sf0zld5z 177 27 based base VBN cord-035342-sf0zld5z 177 28 on on IN cord-035342-sf0zld5z 177 29 the the DT cord-035342-sf0zld5z 177 30 data datum NNS cord-035342-sf0zld5z 177 31 of of IN cord-035342-sf0zld5z 177 32 Chan Chan NNP cord-035342-sf0zld5z 177 33 et et NNP cord-035342-sf0zld5z 177 34 al al NNP cord-035342-sf0zld5z 177 35 . . . cord-035342-sf0zld5z 178 1 ( ( -LRB- cord-035342-sf0zld5z 178 2 2005 2005 CD cord-035342-sf0zld5z 178 3 ) ) -RRB- cord-035342-sf0zld5z 178 4 . . . cord-035342-sf0zld5z 179 1 ' ' '' cord-035342-sf0zld5z 180 1 Own own JJ cord-035342-sf0zld5z 180 2 calculation calculation NN cord-035342-sf0zld5z 180 3 1 1 CD cord-035342-sf0zld5z 180 4 ' ' '' cord-035342-sf0zld5z 180 5 is be VBZ cord-035342-sf0zld5z 180 6 calculated calculate VBN cord-035342-sf0zld5z 180 7 according accord VBG cord-035342-sf0zld5z 180 8 to to IN cord-035342-sf0zld5z 180 9 Fidora Fidora NNP cord-035342-sf0zld5z 180 10 et et NNP cord-035342-sf0zld5z 180 11 al al NNP cord-035342-sf0zld5z 180 12 . . . cord-035342-sf0zld5z 181 1 ( ( -LRB- cord-035342-sf0zld5z 181 2 2007 2007 CD cord-035342-sf0zld5z 181 3 ) ) -RRB- cord-035342-sf0zld5z 181 4 . . . cord-035342-sf0zld5z 182 1 ' ' '' cord-035342-sf0zld5z 183 1 Own own JJ cord-035342-sf0zld5z 183 2 calculation calculation NN cord-035342-sf0zld5z 183 3 2 2 CD cord-035342-sf0zld5z 183 4 ' ' '' cord-035342-sf0zld5z 183 5 is be VBZ cord-035342-sf0zld5z 183 6 the the DT cord-035342-sf0zld5z 183 7 domestic domestic JJ cord-035342-sf0zld5z 183 8 capital capital NN cord-035342-sf0zld5z 183 9 market market NN cord-035342-sf0zld5z 183 10 weight weight NN cord-035342-sf0zld5z 183 11 subtracted subtract VBN cord-035342-sf0zld5z 183 12 from from IN cord-035342-sf0zld5z 183 13 the the DT cord-035342-sf0zld5z 183 14 share share NN cord-035342-sf0zld5z 183 15 of of IN cord-035342-sf0zld5z 183 16 domestic domestic JJ cord-035342-sf0zld5z 183 17 investments investment NNS cord-035342-sf0zld5z 183 18 . . . cord-035342-sf0zld5z 184 1 For for IN cord-035342-sf0zld5z 184 2 Mishra Mishra NNP cord-035342-sf0zld5z 184 3 ( ( -LRB- cord-035342-sf0zld5z 184 4 2015 2015 CD cord-035342-sf0zld5z 184 5 ) ) -RRB- cord-035342-sf0zld5z 184 6 , , , cord-035342-sf0zld5z 184 7 the the DT cord-035342-sf0zld5z 184 8 measures measure NNS cord-035342-sf0zld5z 184 9 with with IN cord-035342-sf0zld5z 184 10 the the DT cord-035342-sf0zld5z 184 11 international international JJ cord-035342-sf0zld5z 184 12 capital capital NN cord-035342-sf0zld5z 184 13 asset asset NN cord-035342-sf0zld5z 184 14 pricing pricing NN cord-035342-sf0zld5z 184 15 model model NN cord-035342-sf0zld5z 184 16 ( ( -LRB- cord-035342-sf0zld5z 184 17 ICAPM ICAPM NNP cord-035342-sf0zld5z 184 18 , , , cord-035342-sf0zld5z 184 19 weekly weekly NN cord-035342-sf0zld5z 184 20 ) ) -RRB- cord-035342-sf0zld5z 184 21 are be VBP cord-035342-sf0zld5z 184 22 included include VBN cord-035342-sf0zld5z 184 23 in in IN cord-035342-sf0zld5z 184 24 the the DT cord-035342-sf0zld5z 184 25 table table NN cord-035342-sf0zld5z 184 26 French French NNP cord-035342-sf0zld5z 184 27 and and CC cord-035342-sf0zld5z 184 28 Poterba Poterba NNP cord-035342-sf0zld5z 184 29 ( ( -LRB- cord-035342-sf0zld5z 184 30 1991 1991 CD cord-035342-sf0zld5z 184 31 ) ) -RRB- cord-035342-sf0zld5z 184 32 Cooper Cooper NNP cord-035342-sf0zld5z 184 33 and and CC cord-035342-sf0zld5z 184 34 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 184 35 Chan Chan NNP cord-035342-sf0zld5z 184 36 et et NNP cord-035342-sf0zld5z 184 37 al al NNP cord-035342-sf0zld5z 184 38 . . . cord-035342-sf0zld5z 185 1 Lau Lau NNP cord-035342-sf0zld5z 185 2 et et NNP cord-035342-sf0zld5z 185 3 al al NNP cord-035342-sf0zld5z 185 4 . . . cord-035342-sf0zld5z 186 1 Own own JJ cord-035342-sf0zld5z 186 2 calculation calculation NN cord-035342-sf0zld5z 186 3 1 1 CD cord-035342-sf0zld5z 186 4 Own own JJ cord-035342-sf0zld5z 186 5 calculation calculation NN cord-035342-sf0zld5z 186 6 2 2 CD cord-035342-sf0zld5z 186 7 Fidora Fidora NNP cord-035342-sf0zld5z 186 8 et et NNP cord-035342-sf0zld5z 186 9 al al NNP cord-035342-sf0zld5z 186 10 . . . cord-035342-sf0zld5z 187 1 Hau Hau NNP cord-035342-sf0zld5z 187 2 and and CC cord-035342-sf0zld5z 187 3 Rey Rey NNP cord-035342-sf0zld5z 187 4 ( ( -LRB- cord-035342-sf0zld5z 187 5 2008 2008 CD cord-035342-sf0zld5z 187 6 ) ) -RRB- cord-035342-sf0zld5z 188 1 Anderson Anderson NNP cord-035342-sf0zld5z 188 2 et et NNP cord-035342-sf0zld5z 188 3 al al NNP cord-035342-sf0zld5z 188 4 . . . cord-035342-sf0zld5z 189 1 Mondria Mondria NNP cord-035342-sf0zld5z 189 2 and and CC cord-035342-sf0zld5z 189 3 Wu Wu NNP cord-035342-sf0zld5z 189 4 ( ( -LRB- cord-035342-sf0zld5z 189 5 2010 2010 CD cord-035342-sf0zld5z 189 6 ) ) -RRB- cord-035342-sf0zld5z 189 7 Mishra Mishra NNP cord-035342-sf0zld5z 189 8 ( ( -LRB- cord-035342-sf0zld5z 189 9 2015 2015 CD cord-035342-sf0zld5z 189 10 ) ) -RRB- cord-035342-sf0zld5z 189 11 Year year NN cord-035342-sf0zld5z 189 12 of of IN cord-035342-sf0zld5z 189 13 data datum NNS cord-035342-sf0zld5z 189 14 1989 1989 CD cord-035342-sf0zld5z 189 15 1987 1987 CD cord-035342-sf0zld5z 189 16 1999 1999 CD cord-035342-sf0zld5z 189 17 - - SYM cord-035342-sf0zld5z 189 18 2000 2000 CD cord-035342-sf0zld5z 189 19 1998 1998 CD cord-035342-sf0zld5z 189 20 - - SYM cord-035342-sf0zld5z 189 21 2007 2007 CD cord-035342-sf0zld5z 189 22 1999 1999 CD cord-035342-sf0zld5z 189 23 - - SYM cord-035342-sf0zld5z 189 24 2000 2000 CD cord-035342-sf0zld5z 189 25 1999 1999 CD cord-035342-sf0zld5z 189 26 - - SYM cord-035342-sf0zld5z 189 27 2000 2000 CD cord-035342-sf0zld5z 189 28 2001 2001 CD cord-035342-sf0zld5z 189 29 - - SYM cord-035342-sf0zld5z 189 30 2003 2003 CD cord-035342-sf0zld5z 189 31 2001 2001 CD cord-035342-sf0zld5z 189 32 - - SYM cord-035342-sf0zld5z 189 33 2002 2002 CD cord-035342-sf0zld5z 189 34 2006 2006 CD cord-035342-sf0zld5z 189 35 1988 1988 CD cord-035342-sf0zld5z 189 36 - - SYM cord-035342-sf0zld5z 189 37 2004 2004 CD cord-035342-sf0zld5z 189 38 bias bias NN cord-035342-sf0zld5z 189 39 measurements measurement NNS cord-035342-sf0zld5z 189 40 of of IN cord-035342-sf0zld5z 189 41 selected select VBN cord-035342-sf0zld5z 189 42 countries country NNS cord-035342-sf0zld5z 189 43 which which WDT cord-035342-sf0zld5z 189 44 are be VBP cord-035342-sf0zld5z 189 45 explained explain VBN cord-035342-sf0zld5z 189 46 briefly briefly RB cord-035342-sf0zld5z 189 47 in in IN cord-035342-sf0zld5z 189 48 the the DT cord-035342-sf0zld5z 189 49 following following JJ cord-035342-sf0zld5z 189 50 section section NN cord-035342-sf0zld5z 189 51 . . . cord-035342-sf0zld5z 190 1 One one CD cord-035342-sf0zld5z 190 2 way way NN cord-035342-sf0zld5z 190 3 to to TO cord-035342-sf0zld5z 190 4 measure measure VB cord-035342-sf0zld5z 190 5 it -PRON- PRP cord-035342-sf0zld5z 190 6 , , , cord-035342-sf0zld5z 190 7 is be VBZ cord-035342-sf0zld5z 190 8 to to TO cord-035342-sf0zld5z 190 9 set set VB cord-035342-sf0zld5z 190 10 the the DT cord-035342-sf0zld5z 190 11 share share NN cord-035342-sf0zld5z 190 12 of of IN cord-035342-sf0zld5z 190 13 domestic domestic JJ cord-035342-sf0zld5z 190 14 assets asset NNS cord-035342-sf0zld5z 190 15 in in IN cord-035342-sf0zld5z 190 16 relation relation NN cord-035342-sf0zld5z 190 17 to to IN cord-035342-sf0zld5z 190 18 the the DT cord-035342-sf0zld5z 190 19 ' ' `` cord-035342-sf0zld5z 190 20 optimal optimal JJ cord-035342-sf0zld5z 190 21 ' ' '' cord-035342-sf0zld5z 190 22 CAPM CAPM NNP cord-035342-sf0zld5z 190 23 share share NN cord-035342-sf0zld5z 190 24 of of IN cord-035342-sf0zld5z 190 25 domestic domestic JJ cord-035342-sf0zld5z 190 26 assets asset NNS cord-035342-sf0zld5z 190 27 . . . cord-035342-sf0zld5z 191 1 The the DT cord-035342-sf0zld5z 191 2 difference difference NN cord-035342-sf0zld5z 191 3 of of IN cord-035342-sf0zld5z 191 4 weights weight NNS cord-035342-sf0zld5z 191 5 of of IN cord-035342-sf0zld5z 191 6 domestic domestic JJ cord-035342-sf0zld5z 191 7 assets asset NNS cord-035342-sf0zld5z 191 8 ( ( -LRB- cord-035342-sf0zld5z 191 9 in in IN cord-035342-sf0zld5z 191 10 the the DT cord-035342-sf0zld5z 191 11 actual actual JJ cord-035342-sf0zld5z 191 12 and and CC cord-035342-sf0zld5z 191 13 ' ' `` cord-035342-sf0zld5z 191 14 optimal optimal JJ cord-035342-sf0zld5z 191 15 ' ' '' cord-035342-sf0zld5z 191 16 portfolio portfolio NN cord-035342-sf0zld5z 191 17 ) ) -RRB- cord-035342-sf0zld5z 191 18 is be VBZ cord-035342-sf0zld5z 191 19 then then RB cord-035342-sf0zld5z 191 20 considered consider VBN cord-035342-sf0zld5z 191 21 as as IN cord-035342-sf0zld5z 191 22 a a DT cord-035342-sf0zld5z 191 23 measure measure NN cord-035342-sf0zld5z 191 24 of of IN cord-035342-sf0zld5z 191 25 home home NN cord-035342-sf0zld5z 191 26 bias bias NN cord-035342-sf0zld5z 191 27 . . . cord-035342-sf0zld5z 192 1 The the DT cord-035342-sf0zld5z 192 2 CAPM CAPM NNP cord-035342-sf0zld5z 192 3 home home NN cord-035342-sf0zld5z 192 4 bias bias NN cord-035342-sf0zld5z 192 5 is be VBZ cord-035342-sf0zld5z 192 6 defined define VBN cord-035342-sf0zld5z 192 7 according accord VBG cord-035342-sf0zld5z 192 8 to to IN cord-035342-sf0zld5z 192 9 Morse Morse NNP cord-035342-sf0zld5z 192 10 and and CC cord-035342-sf0zld5z 192 11 Shive Shive NNP cord-035342-sf0zld5z 192 12 ( ( -LRB- cord-035342-sf0zld5z 192 13 2011 2011 CD cord-035342-sf0zld5z 192 14 , , , cord-035342-sf0zld5z 192 15 p. p. NN cord-035342-sf0zld5z 192 16 418 418 CD cord-035342-sf0zld5z 193 1 ): ): NNP cord-035342-sf0zld5z 193 2 Hau Hau NNP cord-035342-sf0zld5z 193 3 and and CC cord-035342-sf0zld5z 193 4 Rey Rey NNP cord-035342-sf0zld5z 193 5 ( ( -LRB- cord-035342-sf0zld5z 193 6 2008 2008 CD cord-035342-sf0zld5z 193 7 , , , cord-035342-sf0zld5z 193 8 p. p. NN cord-035342-sf0zld5z 193 9 335 335 CD cord-035342-sf0zld5z 193 10 ) ) -RRB- cord-035342-sf0zld5z 193 11 " " `` cord-035342-sf0zld5z 193 12 estimate estimate NN cord-035342-sf0zld5z 194 1 total total JJ cord-035342-sf0zld5z 194 2 investment investment NN cord-035342-sf0zld5z 194 3 in in IN cord-035342-sf0zld5z 194 4 the the DT cord-035342-sf0zld5z 194 5 domestic domestic JJ cord-035342-sf0zld5z 194 6 market market NN cord-035342-sf0zld5z 194 7 by by IN cord-035342-sf0zld5z 194 8 domestic domestic JJ cord-035342-sf0zld5z 194 9 agents agent NNS cord-035342-sf0zld5z 194 10 , , , cord-035342-sf0zld5z 194 11 … … NFP cord-035342-sf0zld5z 194 12 then then RB cord-035342-sf0zld5z 194 13 simply simply RB cord-035342-sf0zld5z 194 14 divide divide VB cord-035342-sf0zld5z 194 15 it -PRON- PRP cord-035342-sf0zld5z 194 16 by by IN cord-035342-sf0zld5z 194 17 total total JJ cord-035342-sf0zld5z 194 18 domestic domestic JJ cord-035342-sf0zld5z 194 19 market market NN cord-035342-sf0zld5z 194 20 capitalization capitalization NN cord-035342-sf0zld5z 194 21 " " '' cord-035342-sf0zld5z 194 22 . . . cord-035342-sf0zld5z 195 1 The the DT cord-035342-sf0zld5z 195 2 data data NN cord-035342-sf0zld5z 195 3 is be VBZ cord-035342-sf0zld5z 195 4 not not RB cord-035342-sf0zld5z 195 5 normalized normalize VBN cord-035342-sf0zld5z 195 6 by by IN cord-035342-sf0zld5z 195 7 the the DT cord-035342-sf0zld5z 195 8 relation relation NN cord-035342-sf0zld5z 195 9 of of IN cord-035342-sf0zld5z 195 10 the the DT cord-035342-sf0zld5z 195 11 domestic domestic JJ cord-035342-sf0zld5z 195 12 capitalization capitalization NN cord-035342-sf0zld5z 195 13 to to IN cord-035342-sf0zld5z 195 14 the the DT cord-035342-sf0zld5z 195 15 world world NN cord-035342-sf0zld5z 195 16 capitalization capitalization NN cord-035342-sf0zld5z 195 17 . . . cord-035342-sf0zld5z 196 1 Fidora Fidora NNP cord-035342-sf0zld5z 196 2 et et NNP cord-035342-sf0zld5z 196 3 al al NNP cord-035342-sf0zld5z 196 4 . . . cord-035342-sf0zld5z 197 1 ( ( -LRB- cord-035342-sf0zld5z 197 2 2007 2007 CD cord-035342-sf0zld5z 197 3 ) ) -RRB- cord-035342-sf0zld5z 197 4 give give VB cord-035342-sf0zld5z 197 5 comprehensive comprehensive JJ cord-035342-sf0zld5z 197 6 data datum NNS cord-035342-sf0zld5z 197 7 on on IN cord-035342-sf0zld5z 197 8 the the DT cord-035342-sf0zld5z 197 9 degree degree NN cord-035342-sf0zld5z 197 10 of of IN cord-035342-sf0zld5z 197 11 home home NN cord-035342-sf0zld5z 197 12 bias bias NN cord-035342-sf0zld5z 197 13 which which WDT cord-035342-sf0zld5z 197 14 in in IN cord-035342-sf0zld5z 197 15 contrast contrast NN cord-035342-sf0zld5z 197 16 to to IN cord-035342-sf0zld5z 197 17 Hau Hau NNP cord-035342-sf0zld5z 197 18 and and CC cord-035342-sf0zld5z 197 19 Rey Rey NNP cord-035342-sf0zld5z 197 20 ( ( -LRB- cord-035342-sf0zld5z 197 21 2008 2008 CD cord-035342-sf0zld5z 197 22 ) ) -RRB- cord-035342-sf0zld5z 197 23 is be VBZ cord-035342-sf0zld5z 197 24 related relate VBN cord-035342-sf0zld5z 197 25 to to IN cord-035342-sf0zld5z 197 26 the the DT cord-035342-sf0zld5z 197 27 share share NN cord-035342-sf0zld5z 197 28 of of IN cord-035342-sf0zld5z 197 29 the the DT cord-035342-sf0zld5z 197 30 world world NN cord-035342-sf0zld5z 197 31 capitalization capitalization NN cord-035342-sf0zld5z 197 32 based base VBN cord-035342-sf0zld5z 197 33 on on IN cord-035342-sf0zld5z 197 34 the the DT cord-035342-sf0zld5z 197 35 formula formula NN cord-035342-sf0zld5z 197 36 : : : cord-035342-sf0zld5z 197 37 Fidora Fidora NNP cord-035342-sf0zld5z 197 38 et et NNP cord-035342-sf0zld5z 197 39 al al NNP cord-035342-sf0zld5z 197 40 . . . cord-035342-sf0zld5z 198 1 ( ( -LRB- cord-035342-sf0zld5z 198 2 2007 2007 CD cord-035342-sf0zld5z 198 3 , , , cord-035342-sf0zld5z 198 4 p. p. NN cord-035342-sf0zld5z 198 5 635 635 CD cord-035342-sf0zld5z 198 6 ) ) -RRB- cord-035342-sf0zld5z 198 7 define define VBP cord-035342-sf0zld5z 198 8 w w NNP cord-035342-sf0zld5z 198 9 i i PRP cord-035342-sf0zld5z 198 10 as as IN cord-035342-sf0zld5z 198 11 the the DT cord-035342-sf0zld5z 198 12 " " `` cord-035342-sf0zld5z 198 13 share share NN cord-035342-sf0zld5z 198 14 of of IN cord-035342-sf0zld5z 198 15 international international JJ cord-035342-sf0zld5z 198 16 assets asset NNS cord-035342-sf0zld5z 198 17 in in IN cord-035342-sf0zld5z 198 18 the the DT cord-035342-sf0zld5z 198 19 country country NN cord-035342-sf0zld5z 198 20 's 's POS cord-035342-sf0zld5z 198 21 portfolio portfolio NN cord-035342-sf0zld5z 198 22 " " '' cord-035342-sf0zld5z 198 23 and and CC cord-035342-sf0zld5z 198 24 w w NNP cord-035342-sf0zld5z 198 25 * * NFP cord-035342-sf0zld5z 198 26 i i PRP cord-035342-sf0zld5z 198 27 as as IN cord-035342-sf0zld5z 198 28 the the DT cord-035342-sf0zld5z 198 29 " " `` cord-035342-sf0zld5z 198 30 market market NN cord-035342-sf0zld5z 198 31 weight weight NN cord-035342-sf0zld5z 198 32 of of IN cord-035342-sf0zld5z 198 33 the the DT cord-035342-sf0zld5z 198 34 rest rest NN cord-035342-sf0zld5z 198 35 of of IN cord-035342-sf0zld5z 198 36 the the DT cord-035342-sf0zld5z 198 37 world world NN cord-035342-sf0zld5z 198 38 seen see VBN cord-035342-sf0zld5z 198 39 from from IN cord-035342-sf0zld5z 198 40 the the DT cord-035342-sf0zld5z 198 41 viewpoint viewpoint NN cord-035342-sf0zld5z 198 42 of of IN cord-035342-sf0zld5z 198 43 a a DT cord-035342-sf0zld5z 198 44 given give VBN cord-035342-sf0zld5z 198 45 country country NN cord-035342-sf0zld5z 198 46 i i PRP cord-035342-sf0zld5z 198 47 " " '' cord-035342-sf0zld5z 198 48 . . . cord-035342-sf0zld5z 199 1 Mature mature JJ cord-035342-sf0zld5z 199 2 economies economy NNS cord-035342-sf0zld5z 199 3 ( ( -LRB- cord-035342-sf0zld5z 199 4 e. e. NNP cord-035342-sf0zld5z 199 5 g. g. NNP cord-035342-sf0zld5z 199 6 the the DT cord-035342-sf0zld5z 199 7 U.S. U.S. NNP cord-035342-sf0zld5z 199 8 , , , cord-035342-sf0zld5z 199 9 the the DT cord-035342-sf0zld5z 199 10 UK UK NNP cord-035342-sf0zld5z 199 11 , , , cord-035342-sf0zld5z 199 12 Germany Germany NNP cord-035342-sf0zld5z 199 13 , , , cord-035342-sf0zld5z 199 14 Japan Japan NNP cord-035342-sf0zld5z 199 15 etc etc FW cord-035342-sf0zld5z 199 16 . . . cord-035342-sf0zld5z 199 17 ) ) -RRB- cord-035342-sf0zld5z 200 1 exhibit exhibit NN cord-035342-sf0zld5z 200 2 , , , cord-035342-sf0zld5z 200 3 on on IN cord-035342-sf0zld5z 200 4 average average JJ cord-035342-sf0zld5z 200 5 , , , cord-035342-sf0zld5z 200 6 a a DT cord-035342-sf0zld5z 200 7 home home NN cord-035342-sf0zld5z 200 8 bias bias NN cord-035342-sf0zld5z 200 9 of of IN cord-035342-sf0zld5z 200 10 67.6 67.6 CD cord-035342-sf0zld5z 200 11 % % NN cord-035342-sf0zld5z 200 12 . . . cord-035342-sf0zld5z 201 1 Emerging emerge VBG cord-035342-sf0zld5z 201 2 economies economy NNS cord-035342-sf0zld5z 201 3 ( ( -LRB- cord-035342-sf0zld5z 201 4 e. e. NNP cord-035342-sf0zld5z 201 5 g. g. NNP cord-035342-sf0zld5z 201 6 in in IN cord-035342-sf0zld5z 201 7 Asia Asia NNP cord-035342-sf0zld5z 201 8 and and CC cord-035342-sf0zld5z 201 9 Latin Latin NNP cord-035342-sf0zld5z 201 10 America America NNP cord-035342-sf0zld5z 201 11 ) ) -RRB- cord-035342-sf0zld5z 201 12 show show VBP cord-035342-sf0zld5z 201 13 a a DT cord-035342-sf0zld5z 201 14 significant significant JJ cord-035342-sf0zld5z 201 15 higher high JJR cord-035342-sf0zld5z 201 16 degree degree NN cord-035342-sf0zld5z 201 17 of of IN cord-035342-sf0zld5z 201 18 around around IN cord-035342-sf0zld5z 201 19 95 95 CD cord-035342-sf0zld5z 201 20 % % NN cord-035342-sf0zld5z 201 21 . . . cord-035342-sf0zld5z 202 1 Chan Chan NNP cord-035342-sf0zld5z 202 2 et et NNP cord-035342-sf0zld5z 202 3 al al NNP cord-035342-sf0zld5z 202 4 . . . cord-035342-sf0zld5z 203 1 ( ( -LRB- cord-035342-sf0zld5z 203 2 2005 2005 CD cord-035342-sf0zld5z 203 3 ) ) -RRB- cord-035342-sf0zld5z 203 4 apply apply VB cord-035342-sf0zld5z 203 5 a a DT cord-035342-sf0zld5z 203 6 resembling resembling JJ cord-035342-sf0zld5z 203 7 measure measure NN cord-035342-sf0zld5z 203 8 , , , cord-035342-sf0zld5z 203 9 but but CC cord-035342-sf0zld5z 203 10 express express VB cord-035342-sf0zld5z 203 11 the the DT cord-035342-sf0zld5z 203 12 home home NN cord-035342-sf0zld5z 203 13 bias bias NN cord-035342-sf0zld5z 203 14 as as IN cord-035342-sf0zld5z 203 15 a a DT cord-035342-sf0zld5z 203 16 natural natural JJ cord-035342-sf0zld5z 203 17 logarithm logarithm NN cord-035342-sf0zld5z 203 18 . . . cord-035342-sf0zld5z 204 1 Lau Lau NNP cord-035342-sf0zld5z 204 2 et et NNP cord-035342-sf0zld5z 204 3 al al NNP cord-035342-sf0zld5z 204 4 . . . cord-035342-sf0zld5z 205 1 ( ( -LRB- cord-035342-sf0zld5z 205 2 2010 2010 CD cord-035342-sf0zld5z 205 3 ) ) -RRB- cord-035342-sf0zld5z 205 4 calculate calculate VBP cord-035342-sf0zld5z 205 5 their -PRON- PRP$ cord-035342-sf0zld5z 205 6 home home NN cord-035342-sf0zld5z 205 7 bias bias NN cord-035342-sf0zld5z 205 8 measure measure NN cord-035342-sf0zld5z 205 9 exactly exactly RB cord-035342-sf0zld5z 205 10 the the DT cord-035342-sf0zld5z 205 11 same same JJ cord-035342-sf0zld5z 205 12 way way NN cord-035342-sf0zld5z 205 13 as as IN cord-035342-sf0zld5z 205 14 Chan Chan NNP cord-035342-sf0zld5z 205 15 et et NNP cord-035342-sf0zld5z 205 16 al al NNP cord-035342-sf0zld5z 205 17 . . . cord-035342-sf0zld5z 206 1 ( ( -LRB- cord-035342-sf0zld5z 206 2 2005 2005 CD cord-035342-sf0zld5z 206 3 ) ) -RRB- cord-035342-sf0zld5z 206 4 . . . cord-035342-sf0zld5z 207 1 Since since IN cord-035342-sf0zld5z 207 2 the the DT cord-035342-sf0zld5z 207 3 measurement measurement NN cord-035342-sf0zld5z 207 4 of of IN cord-035342-sf0zld5z 207 5 Lau Lau NNP cord-035342-sf0zld5z 207 6 et et NNP cord-035342-sf0zld5z 207 7 al al NNP cord-035342-sf0zld5z 207 8 . . . cord-035342-sf0zld5z 208 1 ( ( -LRB- cord-035342-sf0zld5z 208 2 2010 2010 CD cord-035342-sf0zld5z 208 3 ) ) -RRB- cord-035342-sf0zld5z 208 4 is be VBZ cord-035342-sf0zld5z 208 5 based base VBN cord-035342-sf0zld5z 208 6 on on IN cord-035342-sf0zld5z 208 7 data datum NNS cord-035342-sf0zld5z 208 8 over over IN cord-035342-sf0zld5z 208 9 a a DT cord-035342-sf0zld5z 208 10 longer long JJR cord-035342-sf0zld5z 208 11 period period NN cord-035342-sf0zld5z 208 12 of of IN cord-035342-sf0zld5z 208 13 time time NN cord-035342-sf0zld5z 208 14 ( ( -LRB- cord-035342-sf0zld5z 208 15 from from IN cord-035342-sf0zld5z 208 16 1998 1998 CD cord-035342-sf0zld5z 208 17 to to IN cord-035342-sf0zld5z 208 18 2007 2007 CD cord-035342-sf0zld5z 208 19 ) ) -RRB- cord-035342-sf0zld5z 208 20 , , , cord-035342-sf0zld5z 208 21 they -PRON- PRP cord-035342-sf0zld5z 208 22 obtain obtain VBP cord-035342-sf0zld5z 208 23 slightly slightly RB cord-035342-sf0zld5z 208 24 different different JJ cord-035342-sf0zld5z 208 25 results result NNS cord-035342-sf0zld5z 208 26 . . . cord-035342-sf0zld5z 209 1 Anderson Anderson NNP cord-035342-sf0zld5z 209 2 et et NNP cord-035342-sf0zld5z 209 3 al al NNP cord-035342-sf0zld5z 209 4 . . . cord-035342-sf0zld5z 210 1 ( ( -LRB- cord-035342-sf0zld5z 210 2 2011 2011 CD cord-035342-sf0zld5z 210 3 ) ) -RRB- cord-035342-sf0zld5z 210 4 approach approach VBP cord-035342-sf0zld5z 210 5 the the DT cord-035342-sf0zld5z 210 6 calculation calculation NN cord-035342-sf0zld5z 210 7 similar similar JJ cord-035342-sf0zld5z 210 8 to to IN cord-035342-sf0zld5z 210 9 the the DT cord-035342-sf0zld5z 210 10 general general JJ cord-035342-sf0zld5z 210 11 definition definition NN cord-035342-sf0zld5z 210 12 of of IN cord-035342-sf0zld5z 210 13 Chan Chan NNP cord-035342-sf0zld5z 210 14 et et NNP cord-035342-sf0zld5z 210 15 al al NNP cord-035342-sf0zld5z 210 16 . . . cord-035342-sf0zld5z 211 1 ( ( -LRB- cord-035342-sf0zld5z 211 2 2005 2005 CD cord-035342-sf0zld5z 211 3 ) ) -RRB- cord-035342-sf0zld5z 211 4 , , , cord-035342-sf0zld5z 211 5 but but CC cord-035342-sf0zld5z 211 6 distinct distinct JJ cord-035342-sf0zld5z 211 7 in in IN cord-035342-sf0zld5z 211 8 two two CD cord-035342-sf0zld5z 211 9 important important JJ cord-035342-sf0zld5z 211 10 aspects aspect NNS cord-035342-sf0zld5z 211 11 : : : cord-035342-sf0zld5z 212 1 First first RB cord-035342-sf0zld5z 212 2 , , , cord-035342-sf0zld5z 212 3 Anderson Anderson NNP cord-035342-sf0zld5z 212 4 et et NNP cord-035342-sf0zld5z 212 5 al al NNP cord-035342-sf0zld5z 212 6 . . . cord-035342-sf0zld5z 213 1 ( ( -LRB- cord-035342-sf0zld5z 213 2 2011 2011 CD cord-035342-sf0zld5z 213 3 ) ) -RRB- cord-035342-sf0zld5z 213 4 perform perform VB cord-035342-sf0zld5z 213 5 a a DT cord-035342-sf0zld5z 213 6 subtraction subtraction NN cord-035342-sf0zld5z 213 7 and and CC cord-035342-sf0zld5z 213 8 second second NN cord-035342-sf0zld5z 213 9 they -PRON- PRP cord-035342-sf0zld5z 213 10 do do VBP cord-035342-sf0zld5z 213 11 not not RB cord-035342-sf0zld5z 213 12 express express VB cord-035342-sf0zld5z 213 13 the the DT cord-035342-sf0zld5z 213 14 results result NNS cord-035342-sf0zld5z 213 15 logarithmically logarithmically RB cord-035342-sf0zld5z 213 16 . . . cord-035342-sf0zld5z 214 1 Both both DT cord-035342-sf0zld5z 214 2 factors factor NNS cord-035342-sf0zld5z 214 3 cause cause VBP cord-035342-sf0zld5z 214 4 the the DT cord-035342-sf0zld5z 214 5 very very RB cord-035342-sf0zld5z 214 6 different different JJ cord-035342-sf0zld5z 214 7 and and CC cord-035342-sf0zld5z 214 8 not not RB cord-035342-sf0zld5z 214 9 comparable comparable JJ cord-035342-sf0zld5z 214 10 measures measure NNS cord-035342-sf0zld5z 214 11 of of IN cord-035342-sf0zld5z 214 12 Chan Chan NNP cord-035342-sf0zld5z 214 13 et et NNP cord-035342-sf0zld5z 214 14 al al NNP cord-035342-sf0zld5z 214 15 . . . cord-035342-sf0zld5z 215 1 ( ( -LRB- cord-035342-sf0zld5z 215 2 2005 2005 CD cord-035342-sf0zld5z 215 3 ) ) -RRB- cord-035342-sf0zld5z 215 4 and and CC cord-035342-sf0zld5z 215 5 Anderson Anderson NNP cord-035342-sf0zld5z 215 6 et et NNP cord-035342-sf0zld5z 215 7 al al NNP cord-035342-sf0zld5z 215 8 . . . cord-035342-sf0zld5z 216 1 ( ( -LRB- cord-035342-sf0zld5z 216 2 2011 2011 CD cord-035342-sf0zld5z 216 3 ) ) -RRB- cord-035342-sf0zld5z 216 4 . . . cord-035342-sf0zld5z 217 1 Mondria Mondria NNP cord-035342-sf0zld5z 217 2 and and CC cord-035342-sf0zld5z 217 3 Wu Wu NNP cord-035342-sf0zld5z 217 4 ( ( -LRB- cord-035342-sf0zld5z 217 5 2010 2010 CD cord-035342-sf0zld5z 217 6 ) ) -RRB- cord-035342-sf0zld5z 217 7 use use VB cord-035342-sf0zld5z 217 8 the the DT cord-035342-sf0zld5z 217 9 same same JJ cord-035342-sf0zld5z 217 10 definition definition NN cord-035342-sf0zld5z 217 11 of of IN cord-035342-sf0zld5z 217 12 home home NN cord-035342-sf0zld5z 217 13 bias bias NN cord-035342-sf0zld5z 217 14 as as IN cord-035342-sf0zld5z 217 15 Ahearne Ahearne NNP cord-035342-sf0zld5z 217 16 et et NNP cord-035342-sf0zld5z 217 17 al al NNP cord-035342-sf0zld5z 217 18 . . . cord-035342-sf0zld5z 218 1 ( ( -LRB- cord-035342-sf0zld5z 218 2 2004 2004 CD cord-035342-sf0zld5z 218 3 ) ) -RRB- cord-035342-sf0zld5z 218 4 . . . cord-035342-sf0zld5z 219 1 Mondria Mondria NNP cord-035342-sf0zld5z 219 2 and and CC cord-035342-sf0zld5z 219 3 Wu Wu NNP cord-035342-sf0zld5z 219 4 ( ( -LRB- cord-035342-sf0zld5z 219 5 2010 2010 CD cord-035342-sf0zld5z 219 6 ) ) -RRB- cord-035342-sf0zld5z 219 7 define define VB cord-035342-sf0zld5z 219 8 home home NN cord-035342-sf0zld5z 219 9 bias bias NN cord-035342-sf0zld5z 219 10 as as IN cord-035342-sf0zld5z 219 11 ' ' '' cord-035342-sf0zld5z 219 12 one one CD cord-035342-sf0zld5z 219 13 minus minus IN cord-035342-sf0zld5z 219 14 the the DT cord-035342-sf0zld5z 219 15 ratio ratio NN cord-035342-sf0zld5z 219 16 share share NN cord-035342-sf0zld5z 219 17 of of IN cord-035342-sf0zld5z 219 18 " " `` cord-035342-sf0zld5z 219 19 foreign foreign JJ cord-035342-sf0zld5z 219 20 equities equity NNS cord-035342-sf0zld5z 219 21 in in IN cord-035342-sf0zld5z 219 22 country country NN cord-035342-sf0zld5z 219 23 i i PRP cord-035342-sf0zld5z 219 24 's 's POS cord-035342-sf0zld5z 219 25 portfolio portfolio NN cord-035342-sf0zld5z 219 26 " " '' cord-035342-sf0zld5z 219 27 and and CC cord-035342-sf0zld5z 219 28 " " `` cord-035342-sf0zld5z 219 29 the the DT cord-035342-sf0zld5z 219 30 share share NN cord-035342-sf0zld5z 219 31 of of IN cord-035342-sf0zld5z 219 32 foreign foreign JJ cord-035342-sf0zld5z 219 33 equities equity NNS cord-035342-sf0zld5z 219 34 in in IN cord-035342-sf0zld5z 219 35 the the DT cord-035342-sf0zld5z 219 36 world world NN cord-035342-sf0zld5z 219 37 portfolio portfolio NN cord-035342-sf0zld5z 219 38 " " '' cord-035342-sf0zld5z 219 39 from from IN cord-035342-sf0zld5z 219 40 perspective perspective NN cord-035342-sf0zld5z 219 41 of of IN cord-035342-sf0zld5z 219 42 country country NN cord-035342-sf0zld5z 219 43 I -PRON- PRP cord-035342-sf0zld5z 219 44 ' ' '' cord-035342-sf0zld5z 219 45 . . . cord-035342-sf0zld5z 220 1 Going go VBG cord-035342-sf0zld5z 220 2 more more RBR cord-035342-sf0zld5z 220 3 into into IN cord-035342-sf0zld5z 220 4 detail detail NN cord-035342-sf0zld5z 220 5 regarding regard VBG cord-035342-sf0zld5z 220 6 the the DT cord-035342-sf0zld5z 220 7 measurement measurement NN cord-035342-sf0zld5z 220 8 approaches approach NNS cord-035342-sf0zld5z 220 9 , , , cord-035342-sf0zld5z 220 10 there there EX cord-035342-sf0zld5z 220 11 are be VBP cord-035342-sf0zld5z 220 12 different different JJ cord-035342-sf0zld5z 220 13 ways way NNS cord-035342-sf0zld5z 220 14 on on IN cord-035342-sf0zld5z 220 15 how how WRB cord-035342-sf0zld5z 220 16 to to TO cord-035342-sf0zld5z 220 17 build build VB cord-035342-sf0zld5z 220 18 up up RP cord-035342-sf0zld5z 220 19 the the DT cord-035342-sf0zld5z 220 20 optimal optimal JJ cord-035342-sf0zld5z 220 21 weight weight NN cord-035342-sf0zld5z 220 22 of of IN cord-035342-sf0zld5z 220 23 a a DT cord-035342-sf0zld5z 220 24 country country NN cord-035342-sf0zld5z 220 25 of of IN cord-035342-sf0zld5z 220 26 a a DT cord-035342-sf0zld5z 220 27 portfolio portfolio NN cord-035342-sf0zld5z 220 28 . . . cord-035342-sf0zld5z 221 1 Mishra Mishra NNP cord-035342-sf0zld5z 221 2 ( ( -LRB- cord-035342-sf0zld5z 221 3 2015 2015 CD cord-035342-sf0zld5z 221 4 ) ) -RRB- cord-035342-sf0zld5z 221 5 shows show VBZ cord-035342-sf0zld5z 221 6 different different JJ cord-035342-sf0zld5z 221 7 approaches approach NNS cord-035342-sf0zld5z 221 8 and and CC cord-035342-sf0zld5z 221 9 measures measure NNS cord-035342-sf0zld5z 221 10 of of IN cord-035342-sf0zld5z 221 11 home home NN cord-035342-sf0zld5z 221 12 bias bias NN cord-035342-sf0zld5z 221 13 based base VBN cord-035342-sf0zld5z 221 14 on on IN cord-035342-sf0zld5z 221 15 different different JJ cord-035342-sf0zld5z 221 16 optimal optimal JJ cord-035342-sf0zld5z 221 17 portfolios portfolio NNS cord-035342-sf0zld5z 221 18 . . . cord-035342-sf0zld5z 222 1 A a DT cord-035342-sf0zld5z 222 2 comprehensive comprehensive JJ cord-035342-sf0zld5z 222 3 measure measure NN cord-035342-sf0zld5z 222 4 of of IN cord-035342-sf0zld5z 222 5 both both DT cord-035342-sf0zld5z 222 6 home home NN cord-035342-sf0zld5z 222 7 bias bias NN cord-035342-sf0zld5z 222 8 and and CC cord-035342-sf0zld5z 222 9 foreign foreign JJ cord-035342-sf0zld5z 222 10 bias bias NN cord-035342-sf0zld5z 222 11 can can MD cord-035342-sf0zld5z 222 12 be be VB cord-035342-sf0zld5z 222 13 found find VBN cord-035342-sf0zld5z 222 14 in in IN cord-035342-sf0zld5z 222 15 Cooper Cooper NNP cord-035342-sf0zld5z 222 16 et et NNP cord-035342-sf0zld5z 222 17 al al NNP cord-035342-sf0zld5z 222 18 . . . cord-035342-sf0zld5z 223 1 ( ( -LRB- cord-035342-sf0zld5z 223 2 2018 2018 CD cord-035342-sf0zld5z 223 3 ) ) -RRB- cord-035342-sf0zld5z 223 4 who who WP cord-035342-sf0zld5z 223 5 integrate integrate VBP cord-035342-sf0zld5z 223 6 home home NN cord-035342-sf0zld5z 223 7 and and CC cord-035342-sf0zld5z 223 8 foreign foreign JJ cord-035342-sf0zld5z 223 9 bias bias NN cord-035342-sf0zld5z 223 10 in in IN cord-035342-sf0zld5z 223 11 one one CD cord-035342-sf0zld5z 223 12 model model NN cord-035342-sf0zld5z 223 13 and and CC cord-035342-sf0zld5z 223 14 then then RB cord-035342-sf0zld5z 223 15 measure measure VB cord-035342-sf0zld5z 223 16 so so RB cord-035342-sf0zld5z 223 17 - - HYPH cord-035342-sf0zld5z 223 18 called call VBN cord-035342-sf0zld5z 223 19 pure pure JJ cord-035342-sf0zld5z 223 20 home home NN cord-035342-sf0zld5z 223 21 bias bias NN cord-035342-sf0zld5z 223 22 relative relative JJ cord-035342-sf0zld5z 223 23 to to IN cord-035342-sf0zld5z 223 24 the the DT cord-035342-sf0zld5z 223 25 model model NN cord-035342-sf0zld5z 223 26 . . . cord-035342-sf0zld5z 224 1 Pure pure JJ cord-035342-sf0zld5z 224 2 home home NN cord-035342-sf0zld5z 224 3 bias bias NN cord-035342-sf0zld5z 224 4 is be VBZ cord-035342-sf0zld5z 224 5 just just RB cord-035342-sf0zld5z 224 6 the the DT cord-035342-sf0zld5z 224 7 part part NN cord-035342-sf0zld5z 224 8 of of IN cord-035342-sf0zld5z 224 9 home home NN cord-035342-sf0zld5z 224 10 bias bias NN cord-035342-sf0zld5z 224 11 which which WDT cord-035342-sf0zld5z 224 12 can can MD cord-035342-sf0zld5z 224 13 not not RB cord-035342-sf0zld5z 224 14 be be VB cord-035342-sf0zld5z 224 15 explained explain VBN cord-035342-sf0zld5z 224 16 by by IN cord-035342-sf0zld5z 224 17 foreign foreign JJ cord-035342-sf0zld5z 224 18 bias bias NN cord-035342-sf0zld5z 224 19 and and CC cord-035342-sf0zld5z 224 20 distance distance NN cord-035342-sf0zld5z 224 21 effects effect NNS cord-035342-sf0zld5z 224 22 . . . cord-035342-sf0zld5z 225 1 Thus thus RB cord-035342-sf0zld5z 225 2 , , , cord-035342-sf0zld5z 225 3 it -PRON- PRP cord-035342-sf0zld5z 225 4 is be VBZ cord-035342-sf0zld5z 225 5 not not RB cord-035342-sf0zld5z 225 6 a a DT cord-035342-sf0zld5z 225 7 measure measure NN cord-035342-sf0zld5z 225 8 of of IN cord-035342-sf0zld5z 225 9 home home NN cord-035342-sf0zld5z 225 10 bias bias NN cord-035342-sf0zld5z 225 11 as as IN cord-035342-sf0zld5z 225 12 considered consider VBN cord-035342-sf0zld5z 225 13 by by IN cord-035342-sf0zld5z 225 14 the the DT cord-035342-sf0zld5z 225 15 large large JJ cord-035342-sf0zld5z 225 16 part part NN cord-035342-sf0zld5z 225 17 of of IN cord-035342-sf0zld5z 225 18 authors author NNS cord-035342-sf0zld5z 225 19 ( ( -LRB- cord-035342-sf0zld5z 225 20 and and CC cord-035342-sf0zld5z 225 21 in in IN cord-035342-sf0zld5z 225 22 this this DT cord-035342-sf0zld5z 225 23 review review NN cord-035342-sf0zld5z 225 24 ) ) -RRB- cord-035342-sf0zld5z 225 25 and and CC cord-035342-sf0zld5z 225 26 the the DT cord-035342-sf0zld5z 225 27 results result NNS cord-035342-sf0zld5z 225 28 are be VBP cord-035342-sf0zld5z 225 29 therefore therefore RB cord-035342-sf0zld5z 225 30 not not RB cord-035342-sf0zld5z 225 31 included include VBN cord-035342-sf0zld5z 225 32 in in IN cord-035342-sf0zld5z 225 33 the the DT cord-035342-sf0zld5z 225 34 CAPM CAPM NNP cord-035342-sf0zld5z 225 35 Home Home NNP cord-035342-sf0zld5z 225 36 Bias Bias NNP cord-035342-sf0zld5z 225 37 % % NN cord-035342-sf0zld5z 225 38 = = SYM cord-035342-sf0zld5z 225 39 domestic domestic JJ cord-035342-sf0zld5z 225 40 holdings holding NNS cord-035342-sf0zld5z 225 41 % % NN cord-035342-sf0zld5z 225 42 − − CD cord-035342-sf0zld5z 225 43 home home NN cord-035342-sf0zld5z 225 44 capitalization capitalization NN cord-035342-sf0zld5z 225 45 world world NN cord-035342-sf0zld5z 225 46 capitalization capitalization NN cord-035342-sf0zld5z 225 47 comparison comparison NN cord-035342-sf0zld5z 225 48 of of IN cord-035342-sf0zld5z 225 49 home home NN cord-035342-sf0zld5z 225 50 bias bias NN cord-035342-sf0zld5z 225 51 measurements measurement NNS cord-035342-sf0zld5z 225 52 in in IN cord-035342-sf0zld5z 225 53 this this DT cord-035342-sf0zld5z 225 54 review review NN cord-035342-sf0zld5z 225 55 . . . cord-035342-sf0zld5z 226 1 However however RB cord-035342-sf0zld5z 226 2 , , , cord-035342-sf0zld5z 226 3 the the DT cord-035342-sf0zld5z 226 4 model model NN cord-035342-sf0zld5z 226 5 is be VBZ cord-035342-sf0zld5z 226 6 very very RB cord-035342-sf0zld5z 226 7 compelling compelling JJ cord-035342-sf0zld5z 226 8 and and CC cord-035342-sf0zld5z 226 9 seems seem VBZ cord-035342-sf0zld5z 226 10 a a DT cord-035342-sf0zld5z 226 11 promising promising JJ cord-035342-sf0zld5z 226 12 approach approach NN cord-035342-sf0zld5z 226 13 different different JJ cord-035342-sf0zld5z 226 14 to to IN cord-035342-sf0zld5z 226 15 the the DT cord-035342-sf0zld5z 226 16 large large JJ cord-035342-sf0zld5z 226 17 part part NN cord-035342-sf0zld5z 226 18 of of IN cord-035342-sf0zld5z 226 19 existing exist VBG cord-035342-sf0zld5z 226 20 studies study NNS cord-035342-sf0zld5z 226 21 . . . cord-035342-sf0zld5z 227 1 Cooper Cooper NNP cord-035342-sf0zld5z 227 2 et et NNP cord-035342-sf0zld5z 227 3 al al NNP cord-035342-sf0zld5z 227 4 . . . cord-035342-sf0zld5z 228 1 ( ( -LRB- cord-035342-sf0zld5z 228 2 2018 2018 CD cord-035342-sf0zld5z 228 3 ) ) -RRB- cord-035342-sf0zld5z 228 4 find find VBP cord-035342-sf0zld5z 228 5 that that IN cord-035342-sf0zld5z 228 6 pure pure JJ cord-035342-sf0zld5z 228 7 home home NN cord-035342-sf0zld5z 228 8 bias bias NN cord-035342-sf0zld5z 228 9 can can MD cord-035342-sf0zld5z 228 10 just just RB cord-035342-sf0zld5z 228 11 be be VB cord-035342-sf0zld5z 228 12 observed observe VBN cord-035342-sf0zld5z 228 13 in in IN cord-035342-sf0zld5z 228 14 emerging emerge VBG cord-035342-sf0zld5z 228 15 markets market NNS cord-035342-sf0zld5z 228 16 . . . cord-035342-sf0zld5z 229 1 For for IN cord-035342-sf0zld5z 229 2 developed developed JJ cord-035342-sf0zld5z 229 3 countries country NNS cord-035342-sf0zld5z 229 4 foreign foreign JJ cord-035342-sf0zld5z 229 5 bias bias NN cord-035342-sf0zld5z 229 6 can can MD cord-035342-sf0zld5z 229 7 explain explain VB cord-035342-sf0zld5z 229 8 the the DT cord-035342-sf0zld5z 229 9 large large JJ cord-035342-sf0zld5z 229 10 part part NN cord-035342-sf0zld5z 229 11 of of IN cord-035342-sf0zld5z 229 12 total total JJ cord-035342-sf0zld5z 229 13 home home NN cord-035342-sf0zld5z 229 14 bias bias NN cord-035342-sf0zld5z 229 15 variation variation NN cord-035342-sf0zld5z 229 16 , , , cord-035342-sf0zld5z 229 17 i. i. NNP cord-035342-sf0zld5z 229 18 e. e. NNP cord-035342-sf0zld5z 230 1 " " `` cord-035342-sf0zld5z 230 2 the the DT cord-035342-sf0zld5z 230 3 home home NN cord-035342-sf0zld5z 230 4 country country NN cord-035342-sf0zld5z 230 5 is be VBZ cord-035342-sf0zld5z 230 6 very very RB cord-035342-sf0zld5z 230 7 much much RB cord-035342-sf0zld5z 230 8 like like IN cord-035342-sf0zld5z 230 9 a a DT cord-035342-sf0zld5z 230 10 foreign foreign JJ cord-035342-sf0zld5z 230 11 country country NN cord-035342-sf0zld5z 230 12 with with IN cord-035342-sf0zld5z 230 13 zero zero CD cord-035342-sf0zld5z 230 14 distance distance NN cord-035342-sf0zld5z 230 15 . . . cord-035342-sf0zld5z 231 1 Investors investor NNS cord-035342-sf0zld5z 231 2 do do VBP cord-035342-sf0zld5z 231 3 not not RB cord-035342-sf0zld5z 231 4 appear appear VB cord-035342-sf0zld5z 231 5 to to TO cord-035342-sf0zld5z 231 6 exhibit exhibit VB cord-035342-sf0zld5z 231 7 a a DT cord-035342-sf0zld5z 231 8 pure pure JJ cord-035342-sf0zld5z 231 9 fear fear NN cord-035342-sf0zld5z 231 10 of of IN cord-035342-sf0zld5z 231 11 foreign foreign JJ cord-035342-sf0zld5z 231 12 investment investment NN cord-035342-sf0zld5z 231 13 separate separate JJ cord-035342-sf0zld5z 231 14 from from IN cord-035342-sf0zld5z 231 15 their -PRON- PRP$ cord-035342-sf0zld5z 231 16 general general JJ cord-035342-sf0zld5z 231 17 dislike dislike NN cord-035342-sf0zld5z 231 18 of of IN cord-035342-sf0zld5z 231 19 distance distance NN cord-035342-sf0zld5z 231 20 " " '' cord-035342-sf0zld5z 231 21 ( ( -LRB- cord-035342-sf0zld5z 231 22 Cooper Cooper NNP cord-035342-sf0zld5z 231 23 et et NNP cord-035342-sf0zld5z 231 24 al al NNP cord-035342-sf0zld5z 231 25 . . . cord-035342-sf0zld5z 231 26 2018 2018 CD cord-035342-sf0zld5z 231 27 ) ) -RRB- cord-035342-sf0zld5z 231 28 . . . cord-035342-sf0zld5z 232 1 As as IN cord-035342-sf0zld5z 232 2 summarized summarize VBN cord-035342-sf0zld5z 232 3 in in IN cord-035342-sf0zld5z 232 4 Table Table NNP cord-035342-sf0zld5z 232 5 1 1 CD cord-035342-sf0zld5z 232 6 , , , cord-035342-sf0zld5z 232 7 the the DT cord-035342-sf0zld5z 232 8 measures measure NNS cord-035342-sf0zld5z 232 9 are be VBP cord-035342-sf0zld5z 232 10 quite quite RB cord-035342-sf0zld5z 232 11 different different JJ cord-035342-sf0zld5z 232 12 . . . cord-035342-sf0zld5z 233 1 All all DT cord-035342-sf0zld5z 233 2 papers paper NNS cord-035342-sf0zld5z 233 3 confirm confirm VBP cord-035342-sf0zld5z 233 4 the the DT cord-035342-sf0zld5z 233 5 existence existence NN cord-035342-sf0zld5z 233 6 of of IN cord-035342-sf0zld5z 233 7 home home NN cord-035342-sf0zld5z 233 8 bias bias NN cord-035342-sf0zld5z 233 9 for for IN cord-035342-sf0zld5z 233 10 all all DT cord-035342-sf0zld5z 233 11 countries country NNS cord-035342-sf0zld5z 233 12 although although IN cord-035342-sf0zld5z 233 13 no no DT cord-035342-sf0zld5z 233 14 consistent consistent JJ cord-035342-sf0zld5z 233 15 and and CC cord-035342-sf0zld5z 233 16 standardized standardized JJ cord-035342-sf0zld5z 233 17 measure measure NN cord-035342-sf0zld5z 233 18 is be VBZ cord-035342-sf0zld5z 233 19 applied apply VBN cord-035342-sf0zld5z 233 20 . . . cord-035342-sf0zld5z 234 1 That that DT cord-035342-sf0zld5z 234 2 is be VBZ cord-035342-sf0zld5z 234 3 why why WRB cord-035342-sf0zld5z 234 4 the the DT cord-035342-sf0zld5z 234 5 results result NNS cord-035342-sf0zld5z 234 6 sometimes sometimes RB cord-035342-sf0zld5z 234 7 show show VBP cord-035342-sf0zld5z 234 8 inverse inverse JJ cord-035342-sf0zld5z 234 9 directions direction NNS cord-035342-sf0zld5z 234 10 . . . cord-035342-sf0zld5z 235 1 For for IN cord-035342-sf0zld5z 235 2 example example NN cord-035342-sf0zld5z 235 3 , , , cord-035342-sf0zld5z 235 4 Chan Chan NNP cord-035342-sf0zld5z 235 5 et et NNP cord-035342-sf0zld5z 235 6 al al NNP cord-035342-sf0zld5z 235 7 . . . cord-035342-sf0zld5z 236 1 ( ( -LRB- cord-035342-sf0zld5z 236 2 2005 2005 CD cord-035342-sf0zld5z 236 3 ) ) -RRB- cord-035342-sf0zld5z 236 4 measure measure VB cord-035342-sf0zld5z 236 5 a a DT cord-035342-sf0zld5z 236 6 larger large JJR cord-035342-sf0zld5z 236 7 home home NN cord-035342-sf0zld5z 236 8 bias bias NN cord-035342-sf0zld5z 236 9 of of IN cord-035342-sf0zld5z 236 10 the the DT cord-035342-sf0zld5z 236 11 UK UK NNP cord-035342-sf0zld5z 236 12 compared compare VBN cord-035342-sf0zld5z 236 13 to to IN cord-035342-sf0zld5z 236 14 the the DT cord-035342-sf0zld5z 236 15 U.S. U.S. NNP cord-035342-sf0zld5z 236 16 , , , cord-035342-sf0zld5z 236 17 whereas whereas IN cord-035342-sf0zld5z 236 18 the the DT cord-035342-sf0zld5z 236 19 findings finding NNS cord-035342-sf0zld5z 236 20 of of IN cord-035342-sf0zld5z 236 21 Fidora Fidora NNP cord-035342-sf0zld5z 236 22 et et NNP cord-035342-sf0zld5z 236 23 al al NNP cord-035342-sf0zld5z 236 24 . . . cord-035342-sf0zld5z 237 1 ( ( -LRB- cord-035342-sf0zld5z 237 2 2007 2007 CD cord-035342-sf0zld5z 237 3 ) ) -RRB- cord-035342-sf0zld5z 237 4 show show VB cord-035342-sf0zld5z 237 5 the the DT cord-035342-sf0zld5z 237 6 contrary contrary NN cord-035342-sf0zld5z 237 7 , , , cord-035342-sf0zld5z 237 8 even even RB cord-035342-sf0zld5z 237 9 when when WRB cord-035342-sf0zld5z 237 10 neglecting neglect VBG cord-035342-sf0zld5z 237 11 the the DT cord-035342-sf0zld5z 237 12 logarithmic logarithmic JJ cord-035342-sf0zld5z 237 13 presentation presentation NN cord-035342-sf0zld5z 237 14 and and CC cord-035342-sf0zld5z 237 15 even even RB cord-035342-sf0zld5z 237 16 though though IN cord-035342-sf0zld5z 237 17 the the DT cord-035342-sf0zld5z 237 18 data data NN cord-035342-sf0zld5z 237 19 is be VBZ cord-035342-sf0zld5z 237 20 about about RB cord-035342-sf0zld5z 237 21 a a DT cord-035342-sf0zld5z 237 22 similar similar JJ cord-035342-sf0zld5z 237 23 period period NN cord-035342-sf0zld5z 237 24 of of IN cord-035342-sf0zld5z 237 25 time time NN cord-035342-sf0zld5z 237 26 . . . cord-035342-sf0zld5z 238 1 The the DT cord-035342-sf0zld5z 238 2 consistency consistency NN cord-035342-sf0zld5z 238 3 and and CC cord-035342-sf0zld5z 238 4 accuracy accuracy NN cord-035342-sf0zld5z 238 5 of of IN cord-035342-sf0zld5z 238 6 data datum NNS cord-035342-sf0zld5z 238 7 and and CC cord-035342-sf0zld5z 238 8 measurements measurement NNS cord-035342-sf0zld5z 238 9 is be VBZ cord-035342-sf0zld5z 238 10 only only RB cord-035342-sf0zld5z 238 11 guaranteed guarantee VBN cord-035342-sf0zld5z 238 12 within within IN cord-035342-sf0zld5z 238 13 one one CD cord-035342-sf0zld5z 238 14 specific specific JJ cord-035342-sf0zld5z 238 15 study study NN cord-035342-sf0zld5z 238 16 and and CC cord-035342-sf0zld5z 238 17 within within IN cord-035342-sf0zld5z 238 18 one one CD cord-035342-sf0zld5z 238 19 specific specific JJ cord-035342-sf0zld5z 238 20 method method NN cord-035342-sf0zld5z 238 21 of of IN cord-035342-sf0zld5z 238 22 measurement measurement NN cord-035342-sf0zld5z 238 23 . . . cord-035342-sf0zld5z 239 1 There there EX cord-035342-sf0zld5z 239 2 are be VBP cord-035342-sf0zld5z 239 3 some some DT cord-035342-sf0zld5z 239 4 papers paper NNS cord-035342-sf0zld5z 239 5 stating state VBG cord-035342-sf0zld5z 239 6 that that IN cord-035342-sf0zld5z 239 7 mismeasurement mismeasurement NN cord-035342-sf0zld5z 239 8 of of IN cord-035342-sf0zld5z 239 9 the the DT cord-035342-sf0zld5z 239 10 home home NN cord-035342-sf0zld5z 239 11 bias bias NN cord-035342-sf0zld5z 239 12 leads lead VBZ cord-035342-sf0zld5z 239 13 to to IN cord-035342-sf0zld5z 239 14 its -PRON- PRP$ cord-035342-sf0zld5z 239 15 existence existence NN cord-035342-sf0zld5z 239 16 . . . cord-035342-sf0zld5z 240 1 For for IN cord-035342-sf0zld5z 240 2 example example NN cord-035342-sf0zld5z 240 3 , , , cord-035342-sf0zld5z 240 4 Lewis Lewis NNP cord-035342-sf0zld5z 240 5 ( ( -LRB- cord-035342-sf0zld5z 240 6 1999 1999 CD cord-035342-sf0zld5z 240 7 ) ) -RRB- cord-035342-sf0zld5z 240 8 states state VBZ cord-035342-sf0zld5z 240 9 that that IN cord-035342-sf0zld5z 240 10 the the DT cord-035342-sf0zld5z 240 11 used use VBN cord-035342-sf0zld5z 240 12 mathematical mathematical JJ cord-035342-sf0zld5z 240 13 models model NNS cord-035342-sf0zld5z 240 14 may may MD cord-035342-sf0zld5z 240 15 be be VB cord-035342-sf0zld5z 240 16 the the DT cord-035342-sf0zld5z 240 17 only only JJ cord-035342-sf0zld5z 240 18 reason reason NN cord-035342-sf0zld5z 240 19 that that IN cord-035342-sf0zld5z 240 20 there there EX cord-035342-sf0zld5z 240 21 is be VBZ cord-035342-sf0zld5z 240 22 a a DT cord-035342-sf0zld5z 240 23 home home NN cord-035342-sf0zld5z 240 24 bias bias NN cord-035342-sf0zld5z 240 25 . . . cord-035342-sf0zld5z 241 1 But but CC cord-035342-sf0zld5z 241 2 , , , cord-035342-sf0zld5z 241 3 since since IN cord-035342-sf0zld5z 241 4 all all DT cord-035342-sf0zld5z 241 5 of of IN cord-035342-sf0zld5z 241 6 the the DT cord-035342-sf0zld5z 241 7 presented present VBN cord-035342-sf0zld5z 241 8 studies study NNS cord-035342-sf0zld5z 241 9 provide provide VBP cord-035342-sf0zld5z 241 10 evidence evidence NN cord-035342-sf0zld5z 241 11 for for IN cord-035342-sf0zld5z 241 12 the the DT cord-035342-sf0zld5z 241 13 existence existence NN cord-035342-sf0zld5z 241 14 with with IN cord-035342-sf0zld5z 241 15 different different JJ cord-035342-sf0zld5z 241 16 models model NNS cord-035342-sf0zld5z 241 17 , , , cord-035342-sf0zld5z 241 18 the the DT cord-035342-sf0zld5z 241 19 effect effect NN cord-035342-sf0zld5z 241 20 of of IN cord-035342-sf0zld5z 241 21 mismeasurement mismeasurement NN cord-035342-sf0zld5z 241 22 when when WRB cord-035342-sf0zld5z 241 23 dealing deal VBG cord-035342-sf0zld5z 241 24 with with IN cord-035342-sf0zld5z 241 25 the the DT cord-035342-sf0zld5z 241 26 pure pure JJ cord-035342-sf0zld5z 241 27 existence existence NN cord-035342-sf0zld5z 241 28 seems seem VBZ cord-035342-sf0zld5z 241 29 to to TO cord-035342-sf0zld5z 241 30 be be VB cord-035342-sf0zld5z 241 31 marginal marginal JJ cord-035342-sf0zld5z 241 32 . . . cord-035342-sf0zld5z 242 1 The the DT cord-035342-sf0zld5z 242 2 degree degree NN cord-035342-sf0zld5z 242 3 of of IN cord-035342-sf0zld5z 242 4 home home NN cord-035342-sf0zld5z 242 5 bias bias NN cord-035342-sf0zld5z 242 6 varies vary VBZ cord-035342-sf0zld5z 242 7 by by IN cord-035342-sf0zld5z 242 8 two two CD cord-035342-sf0zld5z 242 9 points point NNS cord-035342-sf0zld5z 242 10 of of IN cord-035342-sf0zld5z 242 11 view view NN cord-035342-sf0zld5z 242 12 , , , cord-035342-sf0zld5z 242 13 a a DT cord-035342-sf0zld5z 242 14 general general JJ cord-035342-sf0zld5z 242 15 decline decline NN cord-035342-sf0zld5z 242 16 in in IN cord-035342-sf0zld5z 242 17 home home NN cord-035342-sf0zld5z 242 18 bias bias NN cord-035342-sf0zld5z 242 19 in in IN cord-035342-sf0zld5z 242 20 the the DT cord-035342-sf0zld5z 242 21 course course NN cord-035342-sf0zld5z 242 22 of of IN cord-035342-sf0zld5z 242 23 time time NN cord-035342-sf0zld5z 242 24 and and CC cord-035342-sf0zld5z 242 25 relating relate VBG cord-035342-sf0zld5z 242 26 to to IN cord-035342-sf0zld5z 242 27 particular particular JJ cord-035342-sf0zld5z 242 28 factors factor NNS cord-035342-sf0zld5z 242 29 which which WDT cord-035342-sf0zld5z 242 30 impact impact VBP cord-035342-sf0zld5z 242 31 the the DT cord-035342-sf0zld5z 242 32 extent extent NN cord-035342-sf0zld5z 242 33 of of IN cord-035342-sf0zld5z 242 34 home home NN cord-035342-sf0zld5z 242 35 bias bias NN cord-035342-sf0zld5z 242 36 . . . cord-035342-sf0zld5z 243 1 Since since IN cord-035342-sf0zld5z 243 2 most most JJS cord-035342-sf0zld5z 243 3 of of IN cord-035342-sf0zld5z 243 4 the the DT cord-035342-sf0zld5z 243 5 available available JJ cord-035342-sf0zld5z 243 6 data datum NNS cord-035342-sf0zld5z 243 7 is be VBZ cord-035342-sf0zld5z 243 8 provided provide VBN cord-035342-sf0zld5z 243 9 to to IN cord-035342-sf0zld5z 243 10 U.S. U.S. NNP cord-035342-sf0zld5z 243 11 investors investor NNS cord-035342-sf0zld5z 243 12 ( ( -LRB- cord-035342-sf0zld5z 243 13 Karolyi Karolyi NNP cord-035342-sf0zld5z 243 14 2016 2016 CD cord-035342-sf0zld5z 243 15 ) ) -RRB- cord-035342-sf0zld5z 243 16 , , , cord-035342-sf0zld5z 243 17 the the DT cord-035342-sf0zld5z 243 18 degree degree NN cord-035342-sf0zld5z 243 19 of of IN cord-035342-sf0zld5z 243 20 home home NN cord-035342-sf0zld5z 243 21 bias bias NN cord-035342-sf0zld5z 243 22 for for IN cord-035342-sf0zld5z 243 23 U.S. U.S. NNP cord-035342-sf0zld5z 243 24 investors investor NNS cord-035342-sf0zld5z 243 25 is be VBZ cord-035342-sf0zld5z 243 26 best well RBS cord-035342-sf0zld5z 243 27 analysed analyse VBN cord-035342-sf0zld5z 243 28 in in IN cord-035342-sf0zld5z 243 29 empirical empirical JJ cord-035342-sf0zld5z 243 30 research research NN cord-035342-sf0zld5z 243 31 ( ( -LRB- cord-035342-sf0zld5z 243 32 Eichler Eichler NNP cord-035342-sf0zld5z 243 33 2012 2012 CD cord-035342-sf0zld5z 243 34 ) ) -RRB- cord-035342-sf0zld5z 243 35 . . . cord-035342-sf0zld5z 244 1 For for IN cord-035342-sf0zld5z 244 2 local local JJ cord-035342-sf0zld5z 244 3 bias bias NN cord-035342-sf0zld5z 244 4 , , , cord-035342-sf0zld5z 244 5 there there EX cord-035342-sf0zld5z 244 6 is be VBZ cord-035342-sf0zld5z 244 7 no no DT cord-035342-sf0zld5z 244 8 disposable disposable JJ cord-035342-sf0zld5z 244 9 data datum NNS cord-035342-sf0zld5z 244 10 . . . cord-035342-sf0zld5z 245 1 Since since IN cord-035342-sf0zld5z 245 2 the the DT cord-035342-sf0zld5z 245 3 percentage percentage NN cord-035342-sf0zld5z 245 4 of of IN cord-035342-sf0zld5z 245 5 foreign foreign JJ cord-035342-sf0zld5z 245 6 ownership ownership NN cord-035342-sf0zld5z 245 7 at at IN cord-035342-sf0zld5z 245 8 the the DT cord-035342-sf0zld5z 245 9 Japanese japanese JJ cord-035342-sf0zld5z 245 10 stock stock NN cord-035342-sf0zld5z 245 11 market market NN cord-035342-sf0zld5z 245 12 from from IN cord-035342-sf0zld5z 245 13 the the DT cord-035342-sf0zld5z 245 14 1970s 1970s CD cord-035342-sf0zld5z 245 15 to to IN cord-035342-sf0zld5z 245 16 the the DT cord-035342-sf0zld5z 245 17 1990s 1990 NNS cord-035342-sf0zld5z 245 18 has have VBZ cord-035342-sf0zld5z 245 19 increased increase VBN cord-035342-sf0zld5z 245 20 , , , cord-035342-sf0zld5z 245 21 it -PRON- PRP cord-035342-sf0zld5z 245 22 can can MD cord-035342-sf0zld5z 245 23 be be VB cord-035342-sf0zld5z 245 24 considered consider VBN cord-035342-sf0zld5z 245 25 as as IN cord-035342-sf0zld5z 245 26 an an DT cord-035342-sf0zld5z 245 27 indication indication NN cord-035342-sf0zld5z 245 28 of of IN cord-035342-sf0zld5z 245 29 a a DT cord-035342-sf0zld5z 245 30 general general JJ cord-035342-sf0zld5z 245 31 decline decline NN cord-035342-sf0zld5z 245 32 of of IN cord-035342-sf0zld5z 245 33 home home NN cord-035342-sf0zld5z 245 34 bias bias NN cord-035342-sf0zld5z 245 35 on on IN cord-035342-sf0zld5z 245 36 course course NN cord-035342-sf0zld5z 245 37 of of IN cord-035342-sf0zld5z 245 38 time time NN cord-035342-sf0zld5z 245 39 ( ( -LRB- cord-035342-sf0zld5z 245 40 Kang Kang NNP cord-035342-sf0zld5z 245 41 and and CC cord-035342-sf0zld5z 245 42 Stulz Stulz NNP cord-035342-sf0zld5z 245 43 1997 1997 CD cord-035342-sf0zld5z 245 44 ) ) -RRB- cord-035342-sf0zld5z 245 45 . . . cord-035342-sf0zld5z 246 1 Explicitly explicitly RB cord-035342-sf0zld5z 246 2 measured measure VBN cord-035342-sf0zld5z 246 3 decline decline NN cord-035342-sf0zld5z 246 4 by by IN cord-035342-sf0zld5z 246 5 Levy Levy NNP cord-035342-sf0zld5z 246 6 and and CC cord-035342-sf0zld5z 246 7 Levy Levy NNP cord-035342-sf0zld5z 246 8 ( ( -LRB- cord-035342-sf0zld5z 246 9 2014 2014 CD cord-035342-sf0zld5z 246 10 ) ) -RRB- cord-035342-sf0zld5z 246 11 shows show VBZ cord-035342-sf0zld5z 246 12 a a DT cord-035342-sf0zld5z 246 13 decrease decrease NN cord-035342-sf0zld5z 246 14 of of IN cord-035342-sf0zld5z 246 15 U.S. U.S. NNP cord-035342-sf0zld5z 246 16 home home NN cord-035342-sf0zld5z 246 17 bias bias NN cord-035342-sf0zld5z 246 18 from from IN cord-035342-sf0zld5z 246 19 1988 1988 CD cord-035342-sf0zld5z 246 20 until until IN cord-035342-sf0zld5z 246 21 the the DT cord-035342-sf0zld5z 246 22 2000s 2000s CD cord-035342-sf0zld5z 246 23 . . . cord-035342-sf0zld5z 247 1 This this DT cord-035342-sf0zld5z 247 2 finding finding NN cord-035342-sf0zld5z 247 3 is be VBZ cord-035342-sf0zld5z 247 4 confirmed confirm VBN cord-035342-sf0zld5z 247 5 by by IN cord-035342-sf0zld5z 247 6 Ahearne Ahearne NNP cord-035342-sf0zld5z 247 7 et et NNP cord-035342-sf0zld5z 247 8 al al NNP cord-035342-sf0zld5z 247 9 . . . cord-035342-sf0zld5z 248 1 ( ( -LRB- cord-035342-sf0zld5z 248 2 2004 2004 CD cord-035342-sf0zld5z 248 3 ) ) -RRB- cord-035342-sf0zld5z 248 4 . . . cord-035342-sf0zld5z 249 1 After after IN cord-035342-sf0zld5z 249 2 the the DT cord-035342-sf0zld5z 249 3 early early JJ cord-035342-sf0zld5z 249 4 2000s 2000 NNS cord-035342-sf0zld5z 249 5 , , , cord-035342-sf0zld5z 249 6 home home NN cord-035342-sf0zld5z 249 7 bias bias NN cord-035342-sf0zld5z 249 8 first first RB cord-035342-sf0zld5z 249 9 slightly slightly RB cord-035342-sf0zld5z 249 10 increased increase VBN cord-035342-sf0zld5z 249 11 but but CC cord-035342-sf0zld5z 249 12 has have VBZ cord-035342-sf0zld5z 249 13 fallen fall VBN cord-035342-sf0zld5z 249 14 again again RB cord-035342-sf0zld5z 249 15 until until IN cord-035342-sf0zld5z 249 16 2012 2012 CD cord-035342-sf0zld5z 249 17 and and CC cord-035342-sf0zld5z 249 18 remains remain VBZ cord-035342-sf0zld5z 249 19 on on IN cord-035342-sf0zld5z 249 20 a a DT cord-035342-sf0zld5z 249 21 significant significant JJ cord-035342-sf0zld5z 249 22 level level NN cord-035342-sf0zld5z 249 23 around around IN cord-035342-sf0zld5z 249 24 40 40 CD cord-035342-sf0zld5z 249 25 % % NN cord-035342-sf0zld5z 249 26 . . . cord-035342-sf0zld5z 250 1 Support support NN cord-035342-sf0zld5z 250 2 of of IN cord-035342-sf0zld5z 250 3 the the DT cord-035342-sf0zld5z 250 4 decline decline NN cord-035342-sf0zld5z 250 5 of of IN cord-035342-sf0zld5z 250 6 home home NN cord-035342-sf0zld5z 250 7 bias bias NN cord-035342-sf0zld5z 250 8 for for IN cord-035342-sf0zld5z 250 9 other other JJ cord-035342-sf0zld5z 250 10 countries country NNS cord-035342-sf0zld5z 250 11 comes come VBZ cord-035342-sf0zld5z 250 12 from from IN cord-035342-sf0zld5z 250 13 Fidora Fidora NNP cord-035342-sf0zld5z 250 14 et et NNP cord-035342-sf0zld5z 250 15 al al NNP cord-035342-sf0zld5z 250 16 . . . cord-035342-sf0zld5z 251 1 ( ( -LRB- cord-035342-sf0zld5z 251 2 2007 2007 CD cord-035342-sf0zld5z 251 3 ) ) -RRB- cord-035342-sf0zld5z 251 4 . . . cord-035342-sf0zld5z 252 1 Both both DT cord-035342-sf0zld5z 252 2 equity equity NN cord-035342-sf0zld5z 252 3 and and CC cord-035342-sf0zld5z 252 4 bond bond NN cord-035342-sf0zld5z 252 5 home home NN cord-035342-sf0zld5z 252 6 bias bias NN cord-035342-sf0zld5z 252 7 in in IN cord-035342-sf0zld5z 252 8 mature mature JJ cord-035342-sf0zld5z 252 9 markets market NNS cord-035342-sf0zld5z 252 10 have have VBP cord-035342-sf0zld5z 252 11 decreased decrease VBN cord-035342-sf0zld5z 252 12 during during IN cord-035342-sf0zld5z 252 13 1997 1997 CD cord-035342-sf0zld5z 252 14 to to IN cord-035342-sf0zld5z 252 15 2003 2003 CD cord-035342-sf0zld5z 252 16 . . . cord-035342-sf0zld5z 253 1 Unfortunately unfortunately RB cord-035342-sf0zld5z 253 2 , , , cord-035342-sf0zld5z 253 3 more more RBR cord-035342-sf0zld5z 253 4 recent recent JJ cord-035342-sf0zld5z 253 5 data datum NNS cord-035342-sf0zld5z 253 6 on on IN cord-035342-sf0zld5z 253 7 the the DT cord-035342-sf0zld5z 253 8 degree degree NN cord-035342-sf0zld5z 253 9 of of IN cord-035342-sf0zld5z 253 10 home home NN cord-035342-sf0zld5z 253 11 bias bias NN cord-035342-sf0zld5z 253 12 for for IN cord-035342-sf0zld5z 253 13 other other JJ cord-035342-sf0zld5z 253 14 countries country NNS cord-035342-sf0zld5z 253 15 than than IN cord-035342-sf0zld5z 253 16 the the DT cord-035342-sf0zld5z 253 17 U.S. U.S. NNP cord-035342-sf0zld5z 253 18 could could MD cord-035342-sf0zld5z 253 19 not not RB cord-035342-sf0zld5z 253 20 be be VB cord-035342-sf0zld5z 253 21 found find VBN cord-035342-sf0zld5z 253 22 in in IN cord-035342-sf0zld5z 253 23 any any DT cord-035342-sf0zld5z 253 24 considered considered JJ cord-035342-sf0zld5z 253 25 paper paper NN cord-035342-sf0zld5z 253 26 . . . cord-035342-sf0zld5z 254 1 The the DT cord-035342-sf0zld5z 254 2 home home NN cord-035342-sf0zld5z 254 3 bias bias NN cord-035342-sf0zld5z 254 4 also also RB cord-035342-sf0zld5z 254 5 varies vary VBZ cord-035342-sf0zld5z 254 6 due due IN cord-035342-sf0zld5z 254 7 to to IN cord-035342-sf0zld5z 254 8 particular particular JJ cord-035342-sf0zld5z 254 9 factors factor NNS cord-035342-sf0zld5z 254 10 / / SYM cord-035342-sf0zld5z 254 11 variables variable NNS cord-035342-sf0zld5z 254 12 . . . cord-035342-sf0zld5z 255 1 The the DT cord-035342-sf0zld5z 255 2 economic economic JJ cord-035342-sf0zld5z 255 3 respectively respectively RB cord-035342-sf0zld5z 255 4 financial financial JJ cord-035342-sf0zld5z 255 5 development development NN cord-035342-sf0zld5z 255 6 of of IN cord-035342-sf0zld5z 255 7 a a DT cord-035342-sf0zld5z 255 8 country country NN cord-035342-sf0zld5z 255 9 is be VBZ cord-035342-sf0zld5z 255 10 one one CD cord-035342-sf0zld5z 255 11 factor factor NN cord-035342-sf0zld5z 255 12 , , , cord-035342-sf0zld5z 255 13 however however RB cord-035342-sf0zld5z 255 14 most most JJS cord-035342-sf0zld5z 255 15 studies study NNS cord-035342-sf0zld5z 255 16 show show VBP cord-035342-sf0zld5z 255 17 that that IN cord-035342-sf0zld5z 255 18 there there EX cord-035342-sf0zld5z 255 19 is be VBZ cord-035342-sf0zld5z 255 20 no no DT cord-035342-sf0zld5z 255 21 statistically statistically RB cord-035342-sf0zld5z 255 22 significant significant JJ cord-035342-sf0zld5z 255 23 correlation correlation NN cord-035342-sf0zld5z 255 24 and and CC cord-035342-sf0zld5z 255 25 impact impact NN cord-035342-sf0zld5z 255 26 . . . cord-035342-sf0zld5z 256 1 Bae Bae NNP cord-035342-sf0zld5z 256 2 et et NNP cord-035342-sf0zld5z 256 3 al al NNP cord-035342-sf0zld5z 256 4 . . . cord-035342-sf0zld5z 257 1 ( ( -LRB- cord-035342-sf0zld5z 257 2 2008 2008 CD cord-035342-sf0zld5z 257 3 ) ) -RRB- cord-035342-sf0zld5z 257 4 exclude exclude VB cord-035342-sf0zld5z 257 5 economic economic JJ cord-035342-sf0zld5z 257 6 development development NN cord-035342-sf0zld5z 257 7 of of IN cord-035342-sf0zld5z 257 8 a a DT cord-035342-sf0zld5z 257 9 country country NN cord-035342-sf0zld5z 257 10 as as IN cord-035342-sf0zld5z 257 11 a a DT cord-035342-sf0zld5z 257 12 driving drive VBG cord-035342-sf0zld5z 257 13 force force NN cord-035342-sf0zld5z 257 14 for for IN cord-035342-sf0zld5z 257 15 the the DT cord-035342-sf0zld5z 257 16 equity equity NN cord-035342-sf0zld5z 257 17 home home NN cord-035342-sf0zld5z 257 18 bias bias NN cord-035342-sf0zld5z 257 19 . . . cord-035342-sf0zld5z 258 1 Also also RB cord-035342-sf0zld5z 258 2 , , , cord-035342-sf0zld5z 258 3 Dahlquist Dahlquist NNP cord-035342-sf0zld5z 258 4 et et FW cord-035342-sf0zld5z 258 5 al al NNP cord-035342-sf0zld5z 258 6 . . . cord-035342-sf0zld5z 259 1 ( ( -LRB- cord-035342-sf0zld5z 259 2 2003 2003 CD cord-035342-sf0zld5z 259 3 ) ) -RRB- cord-035342-sf0zld5z 259 4 challenge challenge VBP cord-035342-sf0zld5z 259 5 the the DT cord-035342-sf0zld5z 259 6 influence influence NN cord-035342-sf0zld5z 259 7 and and CC cord-035342-sf0zld5z 259 8 importance importance NN cord-035342-sf0zld5z 259 9 of of IN cord-035342-sf0zld5z 259 10 the the DT cord-035342-sf0zld5z 259 11 financial financial JJ cord-035342-sf0zld5z 259 12 development development NN cord-035342-sf0zld5z 259 13 on on IN cord-035342-sf0zld5z 259 14 the the DT cord-035342-sf0zld5z 259 15 equity equity NN cord-035342-sf0zld5z 259 16 home home NN cord-035342-sf0zld5z 259 17 bias bias NN cord-035342-sf0zld5z 259 18 , , , cord-035342-sf0zld5z 259 19 as as IN cord-035342-sf0zld5z 259 20 differences difference NNS cord-035342-sf0zld5z 259 21 in in IN cord-035342-sf0zld5z 259 22 financial financial JJ cord-035342-sf0zld5z 259 23 development development NN cord-035342-sf0zld5z 259 24 will will MD cord-035342-sf0zld5z 259 25 be be VB cord-035342-sf0zld5z 259 26 reflected reflect VBN cord-035342-sf0zld5z 259 27 in in IN cord-035342-sf0zld5z 259 28 stock stock NN cord-035342-sf0zld5z 259 29 prices price NNS cord-035342-sf0zld5z 259 30 . . . cord-035342-sf0zld5z 260 1 Chan Chan NNP cord-035342-sf0zld5z 260 2 et et NNP cord-035342-sf0zld5z 260 3 al al NNP cord-035342-sf0zld5z 260 4 . . . cord-035342-sf0zld5z 261 1 ( ( -LRB- cord-035342-sf0zld5z 261 2 2005 2005 CD cord-035342-sf0zld5z 261 3 ) ) -RRB- cord-035342-sf0zld5z 261 4 support support VBP cord-035342-sf0zld5z 261 5 these these DT cord-035342-sf0zld5z 261 6 findings finding NNS cord-035342-sf0zld5z 261 7 and and CC cord-035342-sf0zld5z 261 8 do do VBP cord-035342-sf0zld5z 261 9 not not RB cord-035342-sf0zld5z 261 10 find find VB cord-035342-sf0zld5z 261 11 a a DT cord-035342-sf0zld5z 261 12 significant significant JJ cord-035342-sf0zld5z 261 13 impact impact NN cord-035342-sf0zld5z 261 14 of of IN cord-035342-sf0zld5z 261 15 economic economic JJ cord-035342-sf0zld5z 261 16 development development NN cord-035342-sf0zld5z 261 17 . . . cord-035342-sf0zld5z 262 1 They -PRON- PRP cord-035342-sf0zld5z 262 2 detect detect VBP cord-035342-sf0zld5z 262 3 that that IN cord-035342-sf0zld5z 262 4 merely merely RB cord-035342-sf0zld5z 262 5 the the DT cord-035342-sf0zld5z 262 6 stock stock NN cord-035342-sf0zld5z 262 7 market market NN cord-035342-sf0zld5z 262 8 development development NN cord-035342-sf0zld5z 262 9 and and CC cord-035342-sf0zld5z 262 10 familiarity familiarity NN cord-035342-sf0zld5z 262 11 have have VBP cord-035342-sf0zld5z 262 12 a a DT cord-035342-sf0zld5z 262 13 statistically statistically RB cord-035342-sf0zld5z 262 14 significant significant JJ cord-035342-sf0zld5z 262 15 influence influence NN cord-035342-sf0zld5z 262 16 on on IN cord-035342-sf0zld5z 262 17 the the DT cord-035342-sf0zld5z 262 18 extent extent NN cord-035342-sf0zld5z 262 19 of of IN cord-035342-sf0zld5z 262 20 home home NN cord-035342-sf0zld5z 262 21 bias bias NN cord-035342-sf0zld5z 262 22 . . . cord-035342-sf0zld5z 263 1 Imazeki Imazeki NNP cord-035342-sf0zld5z 263 2 and and CC cord-035342-sf0zld5z 263 3 Gallimore Gallimore NNP cord-035342-sf0zld5z 263 4 ( ( -LRB- cord-035342-sf0zld5z 263 5 2009 2009 CD cord-035342-sf0zld5z 263 6 ) ) -RRB- cord-035342-sf0zld5z 263 7 use use VB cord-035342-sf0zld5z 263 8 the the DT cord-035342-sf0zld5z 263 9 same same JJ cord-035342-sf0zld5z 263 10 approach approach NN cord-035342-sf0zld5z 263 11 as as IN cord-035342-sf0zld5z 263 12 Chan Chan NNP cord-035342-sf0zld5z 263 13 et et NNP cord-035342-sf0zld5z 263 14 al al NNP cord-035342-sf0zld5z 263 15 . . . cord-035342-sf0zld5z 264 1 ( ( -LRB- cord-035342-sf0zld5z 264 2 2005 2005 CD cord-035342-sf0zld5z 264 3 ) ) -RRB- cord-035342-sf0zld5z 265 1 but but CC cord-035342-sf0zld5z 265 2 examine examine VB cord-035342-sf0zld5z 265 3 real real JJ cord-035342-sf0zld5z 265 4 estate estate NN cord-035342-sf0zld5z 265 5 mutual mutual JJ cord-035342-sf0zld5z 265 6 funds fund NNS cord-035342-sf0zld5z 265 7 and and CC cord-035342-sf0zld5z 265 8 report report VB cord-035342-sf0zld5z 265 9 similar similar JJ cord-035342-sf0zld5z 265 10 results result NNS cord-035342-sf0zld5z 265 11 . . . cord-035342-sf0zld5z 266 1 The the DT cord-035342-sf0zld5z 266 2 only only JJ cord-035342-sf0zld5z 266 3 significant significant JJ cord-035342-sf0zld5z 266 4 factor factor NN cord-035342-sf0zld5z 266 5 which which WDT cord-035342-sf0zld5z 266 6 influences influence VBZ cord-035342-sf0zld5z 266 7 the the DT cord-035342-sf0zld5z 266 8 degree degree NN cord-035342-sf0zld5z 266 9 of of IN cord-035342-sf0zld5z 266 10 home home NN cord-035342-sf0zld5z 266 11 bias bias NN cord-035342-sf0zld5z 266 12 in in IN cord-035342-sf0zld5z 266 13 real real JJ cord-035342-sf0zld5z 266 14 estate estate NN cord-035342-sf0zld5z 266 15 is be VBZ cord-035342-sf0zld5z 266 16 a a DT cord-035342-sf0zld5z 266 17 combination combination NN cord-035342-sf0zld5z 266 18 of of IN cord-035342-sf0zld5z 266 19 two two CD cord-035342-sf0zld5z 266 20 variables variable NNS cord-035342-sf0zld5z 266 21 : : : cord-035342-sf0zld5z 266 22 real real JJ cord-035342-sf0zld5z 266 23 estate estate NN cord-035342-sf0zld5z 266 24 market market NN cord-035342-sf0zld5z 266 25 capitalization capitalization NN cord-035342-sf0zld5z 266 26 size size NN cord-035342-sf0zld5z 266 27 and and CC cord-035342-sf0zld5z 266 28 real real JJ cord-035342-sf0zld5z 266 29 estate estate NN cord-035342-sf0zld5z 266 30 market market NN cord-035342-sf0zld5z 266 31 transparency transparency NN cord-035342-sf0zld5z 266 32 . . . cord-035342-sf0zld5z 267 1 According accord VBG cord-035342-sf0zld5z 267 2 to to IN cord-035342-sf0zld5z 267 3 Imazeki Imazeki NNP cord-035342-sf0zld5z 267 4 and and CC cord-035342-sf0zld5z 267 5 Gallimore Gallimore NNP cord-035342-sf0zld5z 267 6 ( ( -LRB- cord-035342-sf0zld5z 267 7 2009 2009 CD cord-035342-sf0zld5z 267 8 ) ) -RRB- cord-035342-sf0zld5z 268 1 general general NNP cord-035342-sf0zld5z 268 2 economic economic JJ cord-035342-sf0zld5z 268 3 development development NN cord-035342-sf0zld5z 268 4 also also RB cord-035342-sf0zld5z 268 5 seems seem VBZ cord-035342-sf0zld5z 268 6 to to TO cord-035342-sf0zld5z 268 7 not not RB cord-035342-sf0zld5z 268 8 be be VB cord-035342-sf0zld5z 268 9 important important JJ cord-035342-sf0zld5z 268 10 when when WRB cord-035342-sf0zld5z 268 11 studying study VBG cord-035342-sf0zld5z 268 12 real real JJ cord-035342-sf0zld5z 268 13 estate estate NN cord-035342-sf0zld5z 268 14 home home NN cord-035342-sf0zld5z 268 15 bias bias NN cord-035342-sf0zld5z 268 16 . . . cord-035342-sf0zld5z 269 1 However however RB cord-035342-sf0zld5z 269 2 , , , cord-035342-sf0zld5z 269 3 there there EX cord-035342-sf0zld5z 269 4 is be VBZ cord-035342-sf0zld5z 269 5 evidence evidence NN cord-035342-sf0zld5z 269 6 for for IN cord-035342-sf0zld5z 269 7 an an DT cord-035342-sf0zld5z 269 8 influence influence NN cord-035342-sf0zld5z 269 9 of of IN cord-035342-sf0zld5z 269 10 the the DT cord-035342-sf0zld5z 269 11 variable variable JJ cord-035342-sf0zld5z 269 12 ' ' `` cord-035342-sf0zld5z 269 13 economic economic JJ cord-035342-sf0zld5z 269 14 development development NN cord-035342-sf0zld5z 269 15 ' ' '' cord-035342-sf0zld5z 269 16 with with IN cord-035342-sf0zld5z 269 17 respect respect NN cord-035342-sf0zld5z 269 18 to to IN cord-035342-sf0zld5z 269 19 home home NN cord-035342-sf0zld5z 269 20 bias bias NN cord-035342-sf0zld5z 269 21 in in IN cord-035342-sf0zld5z 269 22 bonds bond NNS cord-035342-sf0zld5z 269 23 ( ( -LRB- cord-035342-sf0zld5z 269 24 Ferreira Ferreira NNP cord-035342-sf0zld5z 269 25 and and CC cord-035342-sf0zld5z 269 26 Miguel Miguel NNP cord-035342-sf0zld5z 269 27 2011 2011 CD cord-035342-sf0zld5z 269 28 ) ) -RRB- cord-035342-sf0zld5z 269 29 . . . cord-035342-sf0zld5z 270 1 In in IN cord-035342-sf0zld5z 270 2 accordance accordance NN cord-035342-sf0zld5z 270 3 with with IN cord-035342-sf0zld5z 270 4 Pool Pool NNP cord-035342-sf0zld5z 270 5 et et NNP cord-035342-sf0zld5z 270 6 al al NNP cord-035342-sf0zld5z 270 7 . . . cord-035342-sf0zld5z 271 1 ( ( -LRB- cord-035342-sf0zld5z 271 2 2012 2012 CD cord-035342-sf0zld5z 271 3 ) ) -RRB- cord-035342-sf0zld5z 272 1 resource resource NN cord-035342-sf0zld5z 272 2 - - HYPH cord-035342-sf0zld5z 272 3 constraints constraint NNS cord-035342-sf0zld5z 272 4 of of IN cord-035342-sf0zld5z 272 5 managers manager NNS cord-035342-sf0zld5z 272 6 influence influence VBP cord-035342-sf0zld5z 272 7 the the DT cord-035342-sf0zld5z 272 8 degree degree NN cord-035342-sf0zld5z 272 9 of of IN cord-035342-sf0zld5z 272 10 home home NN cord-035342-sf0zld5z 272 11 bias bias NN cord-035342-sf0zld5z 272 12 . . . cord-035342-sf0zld5z 273 1 Managers manager NNS cord-035342-sf0zld5z 273 2 with with IN cord-035342-sf0zld5z 273 3 more more RBR cord-035342-sf0zld5z 273 4 limited limited JJ cord-035342-sf0zld5z 273 5 resources resource NNS cord-035342-sf0zld5z 273 6 exhibit exhibit VBP cord-035342-sf0zld5z 273 7 more more JJR cord-035342-sf0zld5z 273 8 home home NN cord-035342-sf0zld5z 273 9 bias bias NN cord-035342-sf0zld5z 273 10 . . . cord-035342-sf0zld5z 274 1 Investors investor NNS cord-035342-sf0zld5z 274 2 with with IN cord-035342-sf0zld5z 274 3 a a DT cord-035342-sf0zld5z 274 4 small small JJ cord-035342-sf0zld5z 274 5 amount amount NN cord-035342-sf0zld5z 274 6 of of IN cord-035342-sf0zld5z 274 7 invested invest VBN cord-035342-sf0zld5z 274 8 money money NN cord-035342-sf0zld5z 274 9 are be VBP cord-035342-sf0zld5z 274 10 more more RBR cord-035342-sf0zld5z 274 11 inclined inclined JJ cord-035342-sf0zld5z 274 12 to to TO cord-035342-sf0zld5z 274 13 exhibit exhibit VB cord-035342-sf0zld5z 274 14 home home NN cord-035342-sf0zld5z 274 15 bias bias NN cord-035342-sf0zld5z 274 16 ( ( -LRB- cord-035342-sf0zld5z 274 17 Karlsson Karlsson NNP cord-035342-sf0zld5z 274 18 and and CC cord-035342-sf0zld5z 274 19 Nordén Nordén NNP cord-035342-sf0zld5z 274 20 2007 2007 CD cord-035342-sf0zld5z 274 21 ) ) -RRB- cord-035342-sf0zld5z 274 22 . . . cord-035342-sf0zld5z 275 1 The the DT cord-035342-sf0zld5z 275 2 effect effect NN cord-035342-sf0zld5z 275 3 of of IN cord-035342-sf0zld5z 275 4 the the DT cord-035342-sf0zld5z 275 5 size size NN cord-035342-sf0zld5z 275 6 can can MD cord-035342-sf0zld5z 275 7 be be VB cord-035342-sf0zld5z 275 8 also also RB cord-035342-sf0zld5z 275 9 transferred transfer VBN cord-035342-sf0zld5z 275 10 to to IN cord-035342-sf0zld5z 275 11 the the DT cord-035342-sf0zld5z 275 12 countries country NNS cord-035342-sf0zld5z 275 13 ' ' POS cord-035342-sf0zld5z 275 14 size size NN cord-035342-sf0zld5z 275 15 , , , cord-035342-sf0zld5z 275 16 i.e. i.e. FW cord-035342-sf0zld5z 275 17 the the DT cord-035342-sf0zld5z 275 18 size size NN cord-035342-sf0zld5z 275 19 has have VBZ cord-035342-sf0zld5z 275 20 a a DT cord-035342-sf0zld5z 275 21 positive positive JJ cord-035342-sf0zld5z 275 22 impact impact NN cord-035342-sf0zld5z 275 23 on on IN cord-035342-sf0zld5z 275 24 home home NN cord-035342-sf0zld5z 275 25 bias bias NN cord-035342-sf0zld5z 275 26 as as IN cord-035342-sf0zld5z 275 27 in in IN cord-035342-sf0zld5z 275 28 a a DT cord-035342-sf0zld5z 275 29 big big JJ cord-035342-sf0zld5z 275 30 country country NN cord-035342-sf0zld5z 275 31 an an DT cord-035342-sf0zld5z 275 32 investor investor NN cord-035342-sf0zld5z 275 33 has have VBZ cord-035342-sf0zld5z 275 34 more more JJR cord-035342-sf0zld5z 275 35 opportunities opportunity NNS cord-035342-sf0zld5z 275 36 to to TO cord-035342-sf0zld5z 275 37 diversify diversify VB cord-035342-sf0zld5z 275 38 his -PRON- PRP$ cord-035342-sf0zld5z 275 39 portfolio portfolio NN cord-035342-sf0zld5z 275 40 and and CC cord-035342-sf0zld5z 275 41 is be VBZ cord-035342-sf0zld5z 275 42 not not RB cord-035342-sf0zld5z 275 43 dependent dependent JJ cord-035342-sf0zld5z 275 44 on on IN cord-035342-sf0zld5z 275 45 diversifying diversify VBG cord-035342-sf0zld5z 275 46 internationally internationally RB cord-035342-sf0zld5z 275 47 ( ( -LRB- cord-035342-sf0zld5z 275 48 Mishra Mishra NNP cord-035342-sf0zld5z 275 49 2015 2015 CD cord-035342-sf0zld5z 275 50 ) ) -RRB- cord-035342-sf0zld5z 275 51 . . . cord-035342-sf0zld5z 276 1 Anderson Anderson NNP cord-035342-sf0zld5z 276 2 et et NNP cord-035342-sf0zld5z 276 3 al al NNP cord-035342-sf0zld5z 276 4 . . . cord-035342-sf0zld5z 277 1 ( ( -LRB- cord-035342-sf0zld5z 277 2 2011 2011 CD cord-035342-sf0zld5z 277 3 ) ) -RRB- cord-035342-sf0zld5z 277 4 examine examine VB cord-035342-sf0zld5z 277 5 the the DT cord-035342-sf0zld5z 277 6 influence influence NN cord-035342-sf0zld5z 277 7 of of IN cord-035342-sf0zld5z 277 8 culture culture NN cord-035342-sf0zld5z 277 9 on on IN cord-035342-sf0zld5z 277 10 home home NN cord-035342-sf0zld5z 277 11 bias bias NN cord-035342-sf0zld5z 277 12 and and CC cord-035342-sf0zld5z 277 13 show show VBP cord-035342-sf0zld5z 277 14 that that IN cord-035342-sf0zld5z 277 15 high high JJ cord-035342-sf0zld5z 277 16 values value NNS cord-035342-sf0zld5z 277 17 of of IN cord-035342-sf0zld5z 277 18 the the DT cord-035342-sf0zld5z 277 19 variables variable NNS cord-035342-sf0zld5z 277 20 long long JJ cord-035342-sf0zld5z 277 21 - - HYPH cord-035342-sf0zld5z 277 22 term term NN cord-035342-sf0zld5z 277 23 orientation orientation NN cord-035342-sf0zld5z 277 24 and and CC cord-035342-sf0zld5z 277 25 masculinity masculinity NN cord-035342-sf0zld5z 277 26 lead lead NN cord-035342-sf0zld5z 277 27 to to IN cord-035342-sf0zld5z 277 28 a a DT cord-035342-sf0zld5z 277 29 relative relative JJ cord-035342-sf0zld5z 277 30 decrease decrease NN cord-035342-sf0zld5z 277 31 in in IN cord-035342-sf0zld5z 277 32 the the DT cord-035342-sf0zld5z 277 33 level level NN cord-035342-sf0zld5z 277 34 of of IN cord-035342-sf0zld5z 277 35 home home NN cord-035342-sf0zld5z 277 36 bias bias NN cord-035342-sf0zld5z 277 37 , , , cord-035342-sf0zld5z 277 38 whereas whereas IN cord-035342-sf0zld5z 277 39 uncertainty uncertainty NN cord-035342-sf0zld5z 277 40 avoidance avoidance NN cord-035342-sf0zld5z 277 41 as as IN cord-035342-sf0zld5z 277 42 a a DT cord-035342-sf0zld5z 277 43 cultural cultural JJ cord-035342-sf0zld5z 277 44 characteristic characteristic JJ cord-035342-sf0zld5z 277 45 increases increase NNS cord-035342-sf0zld5z 277 46 home home NN cord-035342-sf0zld5z 277 47 bias bias NN cord-035342-sf0zld5z 277 48 . . . cord-035342-sf0zld5z 278 1 The the DT cord-035342-sf0zld5z 278 2 influence influence NN cord-035342-sf0zld5z 278 3 of of IN cord-035342-sf0zld5z 278 4 gender gender NN cord-035342-sf0zld5z 278 5 is be VBZ cord-035342-sf0zld5z 278 6 also also RB cord-035342-sf0zld5z 278 7 proven prove VBN cord-035342-sf0zld5z 278 8 by by IN cord-035342-sf0zld5z 278 9 Karlsson Karlsson NNP cord-035342-sf0zld5z 278 10 and and CC cord-035342-sf0zld5z 278 11 Nordén Nordén NNP cord-035342-sf0zld5z 278 12 ( ( -LRB- cord-035342-sf0zld5z 278 13 2007 2007 CD cord-035342-sf0zld5z 278 14 ) ) -RRB- cord-035342-sf0zld5z 278 15 who who WP cord-035342-sf0zld5z 278 16 show show VBP cord-035342-sf0zld5z 278 17 that that IN cord-035342-sf0zld5z 278 18 overconfident overconfident JJ cord-035342-sf0zld5z 278 19 investors investor NNS cord-035342-sf0zld5z 278 20 ( ( -LRB- cord-035342-sf0zld5z 278 21 mostly mostly RB cord-035342-sf0zld5z 278 22 men man NNS cord-035342-sf0zld5z 278 23 ) ) -RRB- cord-035342-sf0zld5z 278 24 are be VBP cord-035342-sf0zld5z 278 25 more more RBR cord-035342-sf0zld5z 278 26 probable probable JJ cord-035342-sf0zld5z 278 27 to to TO cord-035342-sf0zld5z 278 28 show show VB cord-035342-sf0zld5z 278 29 home home NN cord-035342-sf0zld5z 278 30 bias bias NN cord-035342-sf0zld5z 278 31 . . . cord-035342-sf0zld5z 279 1 Lütje Lütje NNP cord-035342-sf0zld5z 279 2 and and CC cord-035342-sf0zld5z 279 3 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 279 4 ( ( -LRB- cord-035342-sf0zld5z 279 5 2007 2007 CD cord-035342-sf0zld5z 279 6 ) ) -RRB- cord-035342-sf0zld5z 279 7 also also RB cord-035342-sf0zld5z 279 8 underline underline VBP cord-035342-sf0zld5z 279 9 the the DT cord-035342-sf0zld5z 279 10 influence influence NN cord-035342-sf0zld5z 279 11 of of IN cord-035342-sf0zld5z 279 12 overconfidence overconfidence NN cord-035342-sf0zld5z 279 13 on on IN cord-035342-sf0zld5z 279 14 home home NN cord-035342-sf0zld5z 279 15 bias bias NN cord-035342-sf0zld5z 279 16 . . . cord-035342-sf0zld5z 280 1 6 6 CD cord-035342-sf0zld5z 281 1 The the DT cord-035342-sf0zld5z 281 2 impact impact NN cord-035342-sf0zld5z 281 3 of of IN cord-035342-sf0zld5z 281 4 cultural cultural JJ cord-035342-sf0zld5z 281 5 variables variable NNS cord-035342-sf0zld5z 281 6 on on IN cord-035342-sf0zld5z 281 7 investment investment NN cord-035342-sf0zld5z 281 8 decisions decision NNS cord-035342-sf0zld5z 281 9 is be VBZ cord-035342-sf0zld5z 281 10 confirmed confirm VBN cord-035342-sf0zld5z 281 11 by by IN cord-035342-sf0zld5z 281 12 Beugelsdijk Beugelsdijk NNP cord-035342-sf0zld5z 281 13 and and CC cord-035342-sf0zld5z 281 14 Frijns Frijns NNP cord-035342-sf0zld5z 281 15 ( ( -LRB- cord-035342-sf0zld5z 281 16 2010 2010 CD cord-035342-sf0zld5z 281 17 ) ) -RRB- cord-035342-sf0zld5z 281 18 , , , cord-035342-sf0zld5z 281 19 though though IN cord-035342-sf0zld5z 281 20 only only RB cord-035342-sf0zld5z 281 21 for for IN cord-035342-sf0zld5z 281 22 foreign foreign JJ cord-035342-sf0zld5z 281 23 bias bias NN cord-035342-sf0zld5z 281 24 . . . cord-035342-sf0zld5z 282 1 Employees employee NNS cord-035342-sf0zld5z 282 2 in in IN cord-035342-sf0zld5z 282 3 the the DT cord-035342-sf0zld5z 282 4 public public JJ cord-035342-sf0zld5z 282 5 sector sector NN cord-035342-sf0zld5z 282 6 ( ( -LRB- cord-035342-sf0zld5z 282 7 having have VBG cord-035342-sf0zld5z 282 8 a a DT cord-035342-sf0zld5z 282 9 high high JJ cord-035342-sf0zld5z 282 10 job job NN cord-035342-sf0zld5z 282 11 security security NN cord-035342-sf0zld5z 282 12 ) ) -RRB- cord-035342-sf0zld5z 282 13 acting act VBG cord-035342-sf0zld5z 282 14 as as IN cord-035342-sf0zld5z 282 15 investors investor NNS cord-035342-sf0zld5z 282 16 and and CC cord-035342-sf0zld5z 282 17 investors investor NNS cord-035342-sf0zld5z 282 18 with with IN cord-035342-sf0zld5z 282 19 a a DT cord-035342-sf0zld5z 282 20 low low JJ cord-035342-sf0zld5z 282 21 education education NN cord-035342-sf0zld5z 282 22 / / SYM cord-035342-sf0zld5z 282 23 sophistication sophistication NN cord-035342-sf0zld5z 282 24 are be VBP cord-035342-sf0zld5z 282 25 more more RBR cord-035342-sf0zld5z 282 26 inclined inclined JJ cord-035342-sf0zld5z 282 27 of of IN cord-035342-sf0zld5z 282 28 being be VBG cord-035342-sf0zld5z 282 29 homebiased homebiase VBN cord-035342-sf0zld5z 283 1 ( ( -LRB- cord-035342-sf0zld5z 283 2 Karlsson Karlsson NNP cord-035342-sf0zld5z 283 3 and and CC cord-035342-sf0zld5z 283 4 Nordén Nordén NNP cord-035342-sf0zld5z 283 5 2007 2007 CD cord-035342-sf0zld5z 283 6 ) ) -RRB- cord-035342-sf0zld5z 283 7 . . . cord-035342-sf0zld5z 284 1 According accord VBG cord-035342-sf0zld5z 284 2 to to IN cord-035342-sf0zld5z 284 3 Mondria Mondria NNP cord-035342-sf0zld5z 284 4 and and CC cord-035342-sf0zld5z 284 5 Wu Wu NNP cord-035342-sf0zld5z 284 6 ( ( -LRB- cord-035342-sf0zld5z 284 7 2010 2010 CD cord-035342-sf0zld5z 284 8 ) ) -RRB- cord-035342-sf0zld5z 284 9 home home NN cord-035342-sf0zld5z 284 10 bias bias NN cord-035342-sf0zld5z 284 11 decreases decrease VBZ cord-035342-sf0zld5z 284 12 with with IN cord-035342-sf0zld5z 284 13 financial financial JJ cord-035342-sf0zld5z 284 14 openness openness NN cord-035342-sf0zld5z 284 15 but but CC cord-035342-sf0zld5z 284 16 remains remain VBZ cord-035342-sf0zld5z 284 17 in in IN cord-035342-sf0zld5z 284 18 the the DT cord-035342-sf0zld5z 284 19 long long JJ cord-035342-sf0zld5z 284 20 run run NN cord-035342-sf0zld5z 284 21 due due IN cord-035342-sf0zld5z 284 22 to to IN cord-035342-sf0zld5z 284 23 interaction interaction NN cord-035342-sf0zld5z 284 24 between between IN cord-035342-sf0zld5z 284 25 " " `` cord-035342-sf0zld5z 284 26 portfolio portfolio NN cord-035342-sf0zld5z 284 27 and and CC cord-035342-sf0zld5z 284 28 information information NN cord-035342-sf0zld5z 284 29 choices choice NNS cord-035342-sf0zld5z 284 30 " " '' cord-035342-sf0zld5z 284 31 ( ( -LRB- cord-035342-sf0zld5z 284 32 Mondria Mondria NNP cord-035342-sf0zld5z 284 33 and and CC cord-035342-sf0zld5z 284 34 Wu Wu NNP cord-035342-sf0zld5z 284 35 2010 2010 CD cord-035342-sf0zld5z 284 36 ) ) -RRB- cord-035342-sf0zld5z 284 37 . . . cord-035342-sf0zld5z 285 1 Banks bank NNS cord-035342-sf0zld5z 285 2 just just RB cord-035342-sf0zld5z 285 3 like like IN cord-035342-sf0zld5z 285 4 institutional institutional JJ cord-035342-sf0zld5z 285 5 ' ' `` cord-035342-sf0zld5z 285 6 investors investor NNS cord-035342-sf0zld5z 285 7 ' ' POS cord-035342-sf0zld5z 285 8 also also RB cord-035342-sf0zld5z 285 9 exhibit exhibit VBP cord-035342-sf0zld5z 285 10 an an DT cord-035342-sf0zld5z 285 11 information information NN cord-035342-sf0zld5z 285 12 - - HYPH cord-035342-sf0zld5z 285 13 based base VBN cord-035342-sf0zld5z 285 14 home home NN cord-035342-sf0zld5z 285 15 bias bias NN cord-035342-sf0zld5z 285 16 when when WRB cord-035342-sf0zld5z 285 17 they -PRON- PRP cord-035342-sf0zld5z 285 18 give give VBP cord-035342-sf0zld5z 285 19 loans loan NNS cord-035342-sf0zld5z 285 20 to to IN cord-035342-sf0zld5z 285 21 enterprises enterprise NNS cord-035342-sf0zld5z 285 22 ( ( -LRB- cord-035342-sf0zld5z 285 23 Presbitero presbitero NN cord-035342-sf0zld5z 285 24 et et NNP cord-035342-sf0zld5z 285 25 al al NNP cord-035342-sf0zld5z 285 26 . . NNP cord-035342-sf0zld5z 285 27 2014 2014 CD cord-035342-sf0zld5z 285 28 ) ) -RRB- cord-035342-sf0zld5z 285 29 . . . cord-035342-sf0zld5z 286 1 Banks bank NNS cord-035342-sf0zld5z 286 2 even even RB cord-035342-sf0zld5z 286 3 exhibit exhibit VBP cord-035342-sf0zld5z 286 4 home home NN cord-035342-sf0zld5z 286 5 bias bias NN cord-035342-sf0zld5z 286 6 when when WRB cord-035342-sf0zld5z 286 7 allocating allocate VBG cord-035342-sf0zld5z 286 8 their -PRON- PRP$ cord-035342-sf0zld5z 286 9 own own JJ cord-035342-sf0zld5z 286 10 bank bank NN cord-035342-sf0zld5z 286 11 assets asset NNS cord-035342-sf0zld5z 286 12 and and CC cord-035342-sf0zld5z 286 13 do do VBP cord-035342-sf0zld5z 286 14 not not RB cord-035342-sf0zld5z 286 15 diversify diversify VB cord-035342-sf0zld5z 286 16 internationally internationally RB cord-035342-sf0zld5z 286 17 with with IN cord-035342-sf0zld5z 286 18 the the DT cord-035342-sf0zld5z 286 19 help help NN cord-035342-sf0zld5z 286 20 of of IN cord-035342-sf0zld5z 286 21 international international JJ cord-035342-sf0zld5z 286 22 subsidiaries subsidiary NNS cord-035342-sf0zld5z 286 23 ( ( -LRB- cord-035342-sf0zld5z 286 24 García García NNP cord-035342-sf0zld5z 286 25 - - HYPH cord-035342-sf0zld5z 286 26 Herrero Herrero NNP cord-035342-sf0zld5z 286 27 and and CC cord-035342-sf0zld5z 286 28 Vázquez Vázquez NNP cord-035342-sf0zld5z 286 29 2013 2013 CD cord-035342-sf0zld5z 286 30 ) ) -RRB- cord-035342-sf0zld5z 286 31 . . . cord-035342-sf0zld5z 287 1 Shapira Shapira NNP cord-035342-sf0zld5z 287 2 and and CC cord-035342-sf0zld5z 287 3 Venezia Venezia NNP cord-035342-sf0zld5z 287 4 ( ( -LRB- cord-035342-sf0zld5z 287 5 2001 2001 CD cord-035342-sf0zld5z 287 6 ) ) -RRB- cord-035342-sf0zld5z 287 7 examine examine VBP cord-035342-sf0zld5z 287 8 differences difference NNS cord-035342-sf0zld5z 287 9 in in IN cord-035342-sf0zld5z 287 10 ( ( -LRB- cord-035342-sf0zld5z 287 11 behavioural behavioural JJ cord-035342-sf0zld5z 287 12 ) ) -RRB- cord-035342-sf0zld5z 287 13 patterns pattern NNS cord-035342-sf0zld5z 287 14 of of IN cord-035342-sf0zld5z 287 15 institutional institutional JJ cord-035342-sf0zld5z 287 16 and and CC cord-035342-sf0zld5z 287 17 individual individual JJ cord-035342-sf0zld5z 287 18 investors investor NNS cord-035342-sf0zld5z 287 19 and and CC cord-035342-sf0zld5z 287 20 show show VB cord-035342-sf0zld5z 287 21 that that IN cord-035342-sf0zld5z 287 22 professional professional JJ cord-035342-sf0zld5z 287 23 investors investor NNS cord-035342-sf0zld5z 287 24 have have VBP cord-035342-sf0zld5z 287 25 a a DT cord-035342-sf0zld5z 287 26 better well RBR cord-035342-sf0zld5z 287 27 diversified diversified JJ cord-035342-sf0zld5z 287 28 portfolio portfolio NN cord-035342-sf0zld5z 287 29 ( ( -LRB- cord-035342-sf0zld5z 287 30 less less JJR cord-035342-sf0zld5z 287 31 home home NN cord-035342-sf0zld5z 287 32 bias bias NN cord-035342-sf0zld5z 287 33 ) ) -RRB- cord-035342-sf0zld5z 287 34 than than IN cord-035342-sf0zld5z 287 35 individual individual JJ cord-035342-sf0zld5z 287 36 investors investor NNS cord-035342-sf0zld5z 287 37 . . . cord-035342-sf0zld5z 288 1 Sometimes sometimes RB cord-035342-sf0zld5z 288 2 the the DT cord-035342-sf0zld5z 288 3 individual individual JJ cord-035342-sf0zld5z 288 4 investors investor NNS cord-035342-sf0zld5z 288 5 influence influence VBP cord-035342-sf0zld5z 288 6 the the DT cord-035342-sf0zld5z 288 7 institutional institutional JJ cord-035342-sf0zld5z 288 8 one one NN cord-035342-sf0zld5z 288 9 . . . cord-035342-sf0zld5z 289 1 That that DT cord-035342-sf0zld5z 289 2 means mean VBZ cord-035342-sf0zld5z 289 3 that that IN cord-035342-sf0zld5z 289 4 the the DT cord-035342-sf0zld5z 289 5 institutional institutional JJ cord-035342-sf0zld5z 289 6 investor investor NN cord-035342-sf0zld5z 289 7 is be VBZ cord-035342-sf0zld5z 289 8 the the DT cord-035342-sf0zld5z 289 9 one one CD cord-035342-sf0zld5z 289 10 who who WP cord-035342-sf0zld5z 289 11 actually actually RB cord-035342-sf0zld5z 289 12 invests invest VBZ cord-035342-sf0zld5z 289 13 but but CC cord-035342-sf0zld5z 289 14 has have VBZ cord-035342-sf0zld5z 289 15 to to TO cord-035342-sf0zld5z 289 16 consider consider VB cord-035342-sf0zld5z 289 17 the the DT cord-035342-sf0zld5z 289 18 ' ' `` cord-035342-sf0zld5z 289 19 wishes wish NNS cord-035342-sf0zld5z 289 20 ' ' '' cord-035342-sf0zld5z 289 21 of of IN cord-035342-sf0zld5z 289 22 the the DT cord-035342-sf0zld5z 289 23 individuals individual NNS cord-035342-sf0zld5z 289 24 , , , cord-035342-sf0zld5z 289 25 e. e. NNP cord-035342-sf0zld5z 289 26 g. g. NNP cord-035342-sf0zld5z 289 27 considering consider VBG cord-035342-sf0zld5z 289 28 mutual mutual JJ cord-035342-sf0zld5z 289 29 fund fund NN cord-035342-sf0zld5z 289 30 investing investing NN cord-035342-sf0zld5z 289 31 ( ( -LRB- cord-035342-sf0zld5z 289 32 Oehler Oehler NNP cord-035342-sf0zld5z 289 33 et et NNP cord-035342-sf0zld5z 289 34 al al NNP cord-035342-sf0zld5z 289 35 . . NNP cord-035342-sf0zld5z 289 36 2008 2008 CD cord-035342-sf0zld5z 289 37 ) ) -RRB- cord-035342-sf0zld5z 289 38 . . . cord-035342-sf0zld5z 290 1 Lütje Lütje NNP cord-035342-sf0zld5z 290 2 and and CC cord-035342-sf0zld5z 290 3 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 290 4 ( ( -LRB- cord-035342-sf0zld5z 290 5 2007 2007 CD cord-035342-sf0zld5z 290 6 ) ) -RRB- cord-035342-sf0zld5z 290 7 for for IN cord-035342-sf0zld5z 290 8 home home NN cord-035342-sf0zld5z 290 9 bias bias NN cord-035342-sf0zld5z 290 10 and and CC cord-035342-sf0zld5z 290 11 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 290 12 and and CC cord-035342-sf0zld5z 290 13 Weisbenner Weisbenner NNP cord-035342-sf0zld5z 290 14 ( ( -LRB- cord-035342-sf0zld5z 290 15 2005 2005 CD cord-035342-sf0zld5z 290 16 ) ) -RRB- cord-035342-sf0zld5z 290 17 for for IN cord-035342-sf0zld5z 290 18 local local JJ cord-035342-sf0zld5z 290 19 bias bias NN cord-035342-sf0zld5z 290 20 provide provide VBP cord-035342-sf0zld5z 290 21 similar similar JJ cord-035342-sf0zld5z 290 22 evidence evidence NN cord-035342-sf0zld5z 290 23 in in IN cord-035342-sf0zld5z 290 24 favour favour NN cord-035342-sf0zld5z 290 25 of of IN cord-035342-sf0zld5z 290 26 a a DT cord-035342-sf0zld5z 290 27 higher high JJR cord-035342-sf0zld5z 290 28 bias bias NN cord-035342-sf0zld5z 290 29 of of IN cord-035342-sf0zld5z 290 30 individual individual JJ cord-035342-sf0zld5z 290 31 investors investor NNS cord-035342-sf0zld5z 290 32 . . . cord-035342-sf0zld5z 291 1 The the DT cord-035342-sf0zld5z 291 2 reasons reason NNS cord-035342-sf0zld5z 291 3 for for IN cord-035342-sf0zld5z 291 4 a a DT cord-035342-sf0zld5z 291 5 home home NN cord-035342-sf0zld5z 291 6 bias bias NN cord-035342-sf0zld5z 291 7 and and CC cord-035342-sf0zld5z 291 8 local local JJ cord-035342-sf0zld5z 291 9 bias bias NN cord-035342-sf0zld5z 291 10 may may MD cord-035342-sf0zld5z 291 11 be be VB cord-035342-sf0zld5z 291 12 divided divide VBN cord-035342-sf0zld5z 291 13 according accord VBG cord-035342-sf0zld5z 291 14 to to IN cord-035342-sf0zld5z 291 15 French French NNP cord-035342-sf0zld5z 291 16 and and CC cord-035342-sf0zld5z 291 17 Poterba Poterba NNP cord-035342-sf0zld5z 291 18 ( ( -LRB- cord-035342-sf0zld5z 291 19 1991 1991 CD cord-035342-sf0zld5z 291 20 ) ) -RRB- cord-035342-sf0zld5z 291 21 into into IN cord-035342-sf0zld5z 291 22 two two CD cord-035342-sf0zld5z 291 23 types type NNS cord-035342-sf0zld5z 291 24 : : : cord-035342-sf0zld5z 291 25 institutional institutional JJ cord-035342-sf0zld5z 291 26 and and CC cord-035342-sf0zld5z 291 27 individual individual JJ cord-035342-sf0zld5z 291 28 investor investor NN cord-035342-sf0zld5z 291 29 - - HYPH cord-035342-sf0zld5z 291 30 related relate VBN cord-035342-sf0zld5z 291 31 reasons reason NNS cord-035342-sf0zld5z 291 32 . . . cord-035342-sf0zld5z 292 1 Nowadays nowadays RB cord-035342-sf0zld5z 292 2 , , , cord-035342-sf0zld5z 292 3 since since IN cord-035342-sf0zld5z 292 4 research research NN cord-035342-sf0zld5z 292 5 has have VBZ cord-035342-sf0zld5z 292 6 advanced advance VBN cord-035342-sf0zld5z 292 7 , , , cord-035342-sf0zld5z 292 8 it -PRON- PRP cord-035342-sf0zld5z 292 9 seems seem VBZ cord-035342-sf0zld5z 292 10 appropriate appropriate JJ cord-035342-sf0zld5z 292 11 to to TO cord-035342-sf0zld5z 292 12 add add VB cord-035342-sf0zld5z 292 13 one one CD cord-035342-sf0zld5z 292 14 further furth JJR cord-035342-sf0zld5z 292 15 reason reason NN cord-035342-sf0zld5z 292 16 , , , cord-035342-sf0zld5z 292 17 i. i. NNP cord-035342-sf0zld5z 292 18 e. e. NNP cord-035342-sf0zld5z 292 19 information information NNP cord-035342-sf0zld5z 292 20 . . . cord-035342-sf0zld5z 293 1 Information information NN cord-035342-sf0zld5z 293 2 - - HYPH cord-035342-sf0zld5z 293 3 based base VBN cord-035342-sf0zld5z 293 4 explanations explanation NNS cord-035342-sf0zld5z 293 5 constitute constitute VBP cord-035342-sf0zld5z 293 6 a a DT cord-035342-sf0zld5z 293 7 big big JJ cord-035342-sf0zld5z 293 8 part part NN cord-035342-sf0zld5z 293 9 of of IN cord-035342-sf0zld5z 293 10 recent recent JJ cord-035342-sf0zld5z 293 11 research research NN cord-035342-sf0zld5z 293 12 and and CC cord-035342-sf0zld5z 293 13 the the DT cord-035342-sf0zld5z 293 14 large large JJ cord-035342-sf0zld5z 293 15 part part NN cord-035342-sf0zld5z 293 16 of of IN cord-035342-sf0zld5z 293 17 recently recently RB cord-035342-sf0zld5z 293 18 published publish VBN cord-035342-sf0zld5z 293 19 articles article NNS cord-035342-sf0zld5z 293 20 . . . cord-035342-sf0zld5z 294 1 Nearly nearly RB cord-035342-sf0zld5z 294 2 all all DT cord-035342-sf0zld5z 294 3 of of IN cord-035342-sf0zld5z 294 4 the the DT cord-035342-sf0zld5z 294 5 literature literature NN cord-035342-sf0zld5z 294 6 discussed discuss VBN cord-035342-sf0zld5z 294 7 in in IN cord-035342-sf0zld5z 294 8 this this DT cord-035342-sf0zld5z 294 9 section section NN cord-035342-sf0zld5z 294 10 refers refer VBZ cord-035342-sf0zld5z 294 11 to to IN cord-035342-sf0zld5z 294 12 home home NN cord-035342-sf0zld5z 294 13 and and CC cord-035342-sf0zld5z 294 14 local local JJ cord-035342-sf0zld5z 294 15 bias bias NN cord-035342-sf0zld5z 294 16 for for IN cord-035342-sf0zld5z 294 17 volatile volatile JJ cord-035342-sf0zld5z 294 18 assets asset NNS cord-035342-sf0zld5z 294 19 which which WDT cord-035342-sf0zld5z 294 20 are be VBP cord-035342-sf0zld5z 294 21 equities equity NNS cord-035342-sf0zld5z 294 22 / / SYM cord-035342-sf0zld5z 294 23 stocks stock NNS cord-035342-sf0zld5z 294 24 and and CC cord-035342-sf0zld5z 294 25 mutual mutual JJ cord-035342-sf0zld5z 294 26 funds fund NNS cord-035342-sf0zld5z 294 27 investing invest VBG cord-035342-sf0zld5z 294 28 in in IN cord-035342-sf0zld5z 294 29 stocks stock NNS cord-035342-sf0zld5z 294 30 . . . cord-035342-sf0zld5z 295 1 In in IN cord-035342-sf0zld5z 295 2 their -PRON- PRP$ cord-035342-sf0zld5z 295 3 early early JJ cord-035342-sf0zld5z 295 4 work work NN cord-035342-sf0zld5z 295 5 French French NNP cord-035342-sf0zld5z 295 6 and and CC cord-035342-sf0zld5z 295 7 Poterba Poterba NNP cord-035342-sf0zld5z 295 8 ( ( -LRB- cord-035342-sf0zld5z 295 9 1991 1991 CD cord-035342-sf0zld5z 295 10 ) ) -RRB- cord-035342-sf0zld5z 295 11 mention mention VB cord-035342-sf0zld5z 295 12 institutional institutional JJ cord-035342-sf0zld5z 295 13 aspects aspect NNS cord-035342-sf0zld5z 295 14 such such JJ cord-035342-sf0zld5z 295 15 as as IN cord-035342-sf0zld5z 295 16 capital capital NN cord-035342-sf0zld5z 295 17 flow flow NN cord-035342-sf0zld5z 295 18 restrictions restriction NNS cord-035342-sf0zld5z 295 19 , , , cord-035342-sf0zld5z 295 20 taxes taxis NNS cord-035342-sf0zld5z 295 21 and and CC cord-035342-sf0zld5z 295 22 transaction transaction NN cord-035342-sf0zld5z 295 23 costs cost NNS cord-035342-sf0zld5z 295 24 as as IN cord-035342-sf0zld5z 295 25 reasons reason NNS cord-035342-sf0zld5z 295 26 for for IN cord-035342-sf0zld5z 295 27 home home NN cord-035342-sf0zld5z 295 28 bias bias NN cord-035342-sf0zld5z 295 29 . . . cord-035342-sf0zld5z 296 1 However however RB cord-035342-sf0zld5z 296 2 , , , cord-035342-sf0zld5z 296 3 they -PRON- PRP cord-035342-sf0zld5z 296 4 do do VBP cord-035342-sf0zld5z 296 5 not not RB cord-035342-sf0zld5z 296 6 find find VB cord-035342-sf0zld5z 296 7 significant significant JJ cord-035342-sf0zld5z 296 8 evidence evidence NN cord-035342-sf0zld5z 296 9 for for IN cord-035342-sf0zld5z 296 10 these these DT cord-035342-sf0zld5z 296 11 reasons reason NNS cord-035342-sf0zld5z 296 12 and and CC cord-035342-sf0zld5z 296 13 conclude conclude VBP cord-035342-sf0zld5z 296 14 that that IN cord-035342-sf0zld5z 296 15 institutional institutional JJ cord-035342-sf0zld5z 296 16 reasons reason NNS cord-035342-sf0zld5z 296 17 may may MD cord-035342-sf0zld5z 296 18 account account VB cord-035342-sf0zld5z 296 19 for for IN cord-035342-sf0zld5z 296 20 a a DT cord-035342-sf0zld5z 296 21 certain certain JJ cord-035342-sf0zld5z 296 22 degree degree NN cord-035342-sf0zld5z 296 23 of of IN cord-035342-sf0zld5z 296 24 the the DT cord-035342-sf0zld5z 296 25 home home NN cord-035342-sf0zld5z 296 26 bias bias NN cord-035342-sf0zld5z 296 27 , , , cord-035342-sf0zld5z 296 28 but but CC cord-035342-sf0zld5z 296 29 are be VBP cord-035342-sf0zld5z 296 30 unable unable JJ cord-035342-sf0zld5z 296 31 to to TO cord-035342-sf0zld5z 296 32 explain explain VB cord-035342-sf0zld5z 296 33 the the DT cord-035342-sf0zld5z 296 34 large large JJ cord-035342-sf0zld5z 296 35 extent extent NN cord-035342-sf0zld5z 296 36 . . . cord-035342-sf0zld5z 297 1 In in IN cord-035342-sf0zld5z 297 2 recent recent JJ cord-035342-sf0zld5z 297 3 research research NN cord-035342-sf0zld5z 297 4 the the DT cord-035342-sf0zld5z 297 5 relevance relevance NN cord-035342-sf0zld5z 297 6 of of IN cord-035342-sf0zld5z 297 7 such such JJ cord-035342-sf0zld5z 297 8 institutional institutional JJ cord-035342-sf0zld5z 297 9 reasons reason NNS cord-035342-sf0zld5z 297 10 is be VBZ cord-035342-sf0zld5z 297 11 declining decline VBG cord-035342-sf0zld5z 297 12 or or CC cord-035342-sf0zld5z 297 13 the the DT cord-035342-sf0zld5z 297 14 reasons reason NNS cord-035342-sf0zld5z 297 15 are be VBP cord-035342-sf0zld5z 297 16 even even RB cord-035342-sf0zld5z 297 17 rejected reject VBN cord-035342-sf0zld5z 297 18 . . . cord-035342-sf0zld5z 298 1 Institutional institutional JJ cord-035342-sf0zld5z 298 2 reasons reason NNS cord-035342-sf0zld5z 298 3 consist consist VBP cord-035342-sf0zld5z 298 4 of of IN cord-035342-sf0zld5z 298 5 reasons reason NNS cord-035342-sf0zld5z 298 6 which which WDT cord-035342-sf0zld5z 298 7 the the DT cord-035342-sf0zld5z 298 8 actual actual JJ cord-035342-sf0zld5z 298 9 investor investor NN cord-035342-sf0zld5z 298 10 can can MD cord-035342-sf0zld5z 298 11 not not RB cord-035342-sf0zld5z 298 12 influence influence VB cord-035342-sf0zld5z 298 13 and and CC cord-035342-sf0zld5z 298 14 which which WDT cord-035342-sf0zld5z 298 15 are be VBP cord-035342-sf0zld5z 298 16 set set VBN cord-035342-sf0zld5z 298 17 up up RP cord-035342-sf0zld5z 298 18 by by IN cord-035342-sf0zld5z 298 19 policy policy NN cord-035342-sf0zld5z 298 20 makers maker NNS cord-035342-sf0zld5z 298 21 or or CC cord-035342-sf0zld5z 298 22 are be VBP cord-035342-sf0zld5z 298 23 based base VBN cord-035342-sf0zld5z 298 24 on on IN cord-035342-sf0zld5z 298 25 general general JJ cord-035342-sf0zld5z 298 26 economic economic JJ cord-035342-sf0zld5z 298 27 principles principle NNS cord-035342-sf0zld5z 298 28 . . . cord-035342-sf0zld5z 299 1 Institutional institutional JJ cord-035342-sf0zld5z 299 2 reasons reason NNS cord-035342-sf0zld5z 299 3 can can MD cord-035342-sf0zld5z 299 4 not not RB cord-035342-sf0zld5z 299 5 explain explain VB cord-035342-sf0zld5z 299 6 any any DT cord-035342-sf0zld5z 299 7 local local JJ cord-035342-sf0zld5z 299 8 bias bias NN cord-035342-sf0zld5z 299 9 . . . cord-035342-sf0zld5z 300 1 The the DT cord-035342-sf0zld5z 300 2 identified identify VBN cord-035342-sf0zld5z 300 3 reasons reason NNS cord-035342-sf0zld5z 300 4 just just RB cord-035342-sf0zld5z 300 5 relate relate VBP cord-035342-sf0zld5z 300 6 to to IN cord-035342-sf0zld5z 300 7 international international JJ cord-035342-sf0zld5z 300 8 home home NN cord-035342-sf0zld5z 300 9 bias bias NN cord-035342-sf0zld5z 300 10 . . . cord-035342-sf0zld5z 301 1 Transaction transaction NN cord-035342-sf0zld5z 301 2 barriers barrier NNS cord-035342-sf0zld5z 301 3 are be VBP cord-035342-sf0zld5z 301 4 explicit explicit JJ cord-035342-sf0zld5z 301 5 barriers barrier NNS cord-035342-sf0zld5z 301 6 to to IN cord-035342-sf0zld5z 301 7 an an DT cord-035342-sf0zld5z 301 8 investment investment NN cord-035342-sf0zld5z 301 9 abroad abroad RB cord-035342-sf0zld5z 301 10 and and CC cord-035342-sf0zld5z 301 11 can can MD cord-035342-sf0zld5z 301 12 be be VB cord-035342-sf0zld5z 301 13 induced induce VBN cord-035342-sf0zld5z 301 14 by by IN cord-035342-sf0zld5z 301 15 different different JJ cord-035342-sf0zld5z 301 16 causes cause NNS cord-035342-sf0zld5z 301 17 : : : cord-035342-sf0zld5z 301 18 taxes taxis NNS cord-035342-sf0zld5z 301 19 on on IN cord-035342-sf0zld5z 301 20 foreign foreign JJ cord-035342-sf0zld5z 301 21 investments investment NNS cord-035342-sf0zld5z 301 22 or or CC cord-035342-sf0zld5z 301 23 not not RB cord-035342-sf0zld5z 301 24 further further RB cord-035342-sf0zld5z 301 25 specified specify VBN cord-035342-sf0zld5z 301 26 transaction transaction NN cord-035342-sf0zld5z 301 27 costs cost NNS cord-035342-sf0zld5z 301 28 ( ( -LRB- cord-035342-sf0zld5z 302 1 e.g. e.g. IN cord-035342-sf0zld5z 302 2 cost cost NN cord-035342-sf0zld5z 302 3 for for IN cord-035342-sf0zld5z 302 4 opening open VBG cord-035342-sf0zld5z 302 5 an an DT cord-035342-sf0zld5z 302 6 investment investment NN cord-035342-sf0zld5z 302 7 account account NN cord-035342-sf0zld5z 302 8 abroad abroad RB cord-035342-sf0zld5z 302 9 ) ) -RRB- cord-035342-sf0zld5z 302 10 . . . cord-035342-sf0zld5z 303 1 In in IN cord-035342-sf0zld5z 303 2 the the DT cord-035342-sf0zld5z 303 3 early early JJ cord-035342-sf0zld5z 303 4 1970s 1970 NNS cord-035342-sf0zld5z 303 5 , , , cord-035342-sf0zld5z 303 6 Black black JJ cord-035342-sf0zld5z 303 7 ( ( -LRB- cord-035342-sf0zld5z 303 8 1974 1974 CD cord-035342-sf0zld5z 303 9 ) ) -RRB- cord-035342-sf0zld5z 303 10 develops develop VBZ cord-035342-sf0zld5z 303 11 a a DT cord-035342-sf0zld5z 303 12 model model NN cord-035342-sf0zld5z 303 13 with with IN cord-035342-sf0zld5z 303 14 a a DT cord-035342-sf0zld5z 303 15 capital capital NN cord-035342-sf0zld5z 303 16 market market NN cord-035342-sf0zld5z 303 17 equilibrium equilibrium NN cord-035342-sf0zld5z 303 18 combined combine VBN cord-035342-sf0zld5z 303 19 with with IN cord-035342-sf0zld5z 303 20 explicit explicit JJ cord-035342-sf0zld5z 303 21 barriers barrier NNS cord-035342-sf0zld5z 303 22 ( ( -LRB- cord-035342-sf0zld5z 303 23 taxes taxis NNS cord-035342-sf0zld5z 303 24 ) ) -RRB- cord-035342-sf0zld5z 303 25 to to IN cord-035342-sf0zld5z 303 26 foreign foreign JJ cord-035342-sf0zld5z 303 27 investment investment NN cord-035342-sf0zld5z 303 28 . . . cord-035342-sf0zld5z 304 1 In in IN cord-035342-sf0zld5z 304 2 his -PRON- PRP$ cord-035342-sf0zld5z 304 3 model model NN cord-035342-sf0zld5z 304 4 , , , cord-035342-sf0zld5z 304 5 a a DT cord-035342-sf0zld5z 304 6 home home NN cord-035342-sf0zld5z 304 7 bias bias NN cord-035342-sf0zld5z 304 8 occurs occur VBZ cord-035342-sf0zld5z 304 9 with with IN cord-035342-sf0zld5z 304 10 these these DT cord-035342-sf0zld5z 304 11 taxes taxis NNS cord-035342-sf0zld5z 304 12 on on IN cord-035342-sf0zld5z 304 13 foreign foreign JJ cord-035342-sf0zld5z 304 14 investments investment NNS cord-035342-sf0zld5z 304 15 . . . cord-035342-sf0zld5z 305 1 However however RB cord-035342-sf0zld5z 305 2 , , , cord-035342-sf0zld5z 305 3 the the DT cord-035342-sf0zld5z 305 4 results result NNS cord-035342-sf0zld5z 305 5 are be VBP cord-035342-sf0zld5z 305 6 not not RB cord-035342-sf0zld5z 305 7 validated validate VBN cord-035342-sf0zld5z 305 8 empirically empirically RB cord-035342-sf0zld5z 305 9 . . . cord-035342-sf0zld5z 306 1 Stulz Stulz NNP cord-035342-sf0zld5z 306 2 ( ( -LRB- cord-035342-sf0zld5z 306 3 1981b 1981b CD cord-035342-sf0zld5z 306 4 ) ) -RRB- cord-035342-sf0zld5z 306 5 constructs construct VBZ cord-035342-sf0zld5z 306 6 a a DT cord-035342-sf0zld5z 306 7 similar similar JJ cord-035342-sf0zld5z 306 8 model model NN cord-035342-sf0zld5z 306 9 by by IN cord-035342-sf0zld5z 306 10 introducing introduce VBG cord-035342-sf0zld5z 306 11 barriers barrier NNS cord-035342-sf0zld5z 306 12 to to IN cord-035342-sf0zld5z 306 13 international international JJ cord-035342-sf0zld5z 306 14 investment investment NN cord-035342-sf0zld5z 306 15 . . . cord-035342-sf0zld5z 307 1 Compared compare VBN cord-035342-sf0zld5z 307 2 to to IN cord-035342-sf0zld5z 307 3 Black Black NNP cord-035342-sf0zld5z 307 4 ( ( -LRB- cord-035342-sf0zld5z 307 5 1974 1974 CD cord-035342-sf0zld5z 307 6 ) ) -RRB- cord-035342-sf0zld5z 307 7 the the DT cord-035342-sf0zld5z 307 8 model model NN cord-035342-sf0zld5z 307 9 has have VBZ cord-035342-sf0zld5z 307 10 slight slight JJ cord-035342-sf0zld5z 307 11 differences difference NNS cord-035342-sf0zld5z 307 12 in in IN cord-035342-sf0zld5z 307 13 the the DT cord-035342-sf0zld5z 307 14 assumptions assumption NNS cord-035342-sf0zld5z 307 15 , , , cord-035342-sf0zld5z 307 16 especially especially RB cord-035342-sf0zld5z 307 17 in in IN cord-035342-sf0zld5z 307 18 the the DT cord-035342-sf0zld5z 307 19 calculation calculation NN cord-035342-sf0zld5z 307 20 of of IN cord-035342-sf0zld5z 307 21 the the DT cord-035342-sf0zld5z 307 22 costs cost NNS cord-035342-sf0zld5z 307 23 respectively respectively RB cord-035342-sf0zld5z 307 24 taxes taxis NNS cord-035342-sf0zld5z 307 25 . . . cord-035342-sf0zld5z 308 1 Though though RB cord-035342-sf0zld5z 308 2 , , , cord-035342-sf0zld5z 308 3 he -PRON- PRP cord-035342-sf0zld5z 308 4 finds find VBZ cord-035342-sf0zld5z 308 5 similar similar JJ cord-035342-sf0zld5z 308 6 results result NNS cord-035342-sf0zld5z 308 7 that that IN cord-035342-sf0zld5z 308 8 holding hold VBG cord-035342-sf0zld5z 308 9 foreign foreign JJ cord-035342-sf0zld5z 308 10 assets asset NNS cord-035342-sf0zld5z 308 11 is be VBZ cord-035342-sf0zld5z 308 12 costly costly JJ cord-035342-sf0zld5z 308 13 to to IN cord-035342-sf0zld5z 308 14 domestic domestic JJ cord-035342-sf0zld5z 308 15 investors investor NNS cord-035342-sf0zld5z 308 16 , , , cord-035342-sf0zld5z 308 17 therefore therefore RB cord-035342-sf0zld5z 308 18 hold hold VBP cord-035342-sf0zld5z 308 19 less less JJR cord-035342-sf0zld5z 308 20 by by IN cord-035342-sf0zld5z 308 21 domestic domestic JJ cord-035342-sf0zld5z 308 22 investors investor NNS cord-035342-sf0zld5z 308 23 . . . cord-035342-sf0zld5z 309 1 Stulz Stulz NNP cord-035342-sf0zld5z 309 2 ( ( -LRB- cord-035342-sf0zld5z 309 3 1981b 1981b CD cord-035342-sf0zld5z 309 4 ) ) -RRB- cord-035342-sf0zld5z 309 5 also also RB cord-035342-sf0zld5z 309 6 gives give VBZ cord-035342-sf0zld5z 309 7 no no DT cord-035342-sf0zld5z 309 8 empirical empirical JJ cord-035342-sf0zld5z 309 9 support support NN cord-035342-sf0zld5z 309 10 to to IN cord-035342-sf0zld5z 309 11 his -PRON- PRP$ cord-035342-sf0zld5z 309 12 hypotheses hypothesis NNS cord-035342-sf0zld5z 309 13 and and CC cord-035342-sf0zld5z 309 14 to to IN cord-035342-sf0zld5z 309 15 the the DT cord-035342-sf0zld5z 309 16 predictions prediction NNS cord-035342-sf0zld5z 309 17 he -PRON- PRP cord-035342-sf0zld5z 309 18 derived derive VBD cord-035342-sf0zld5z 309 19 from from IN cord-035342-sf0zld5z 309 20 his -PRON- PRP$ cord-035342-sf0zld5z 309 21 model model NN cord-035342-sf0zld5z 309 22 . . . cord-035342-sf0zld5z 310 1 But but CC cord-035342-sf0zld5z 310 2 , , , cord-035342-sf0zld5z 310 3 even even RB cord-035342-sf0zld5z 310 4 in in IN cord-035342-sf0zld5z 310 5 a a DT cord-035342-sf0zld5z 310 6 model model NN cord-035342-sf0zld5z 310 7 without without IN cord-035342-sf0zld5z 310 8 barriers barrier NNS cord-035342-sf0zld5z 310 9 to to IN cord-035342-sf0zld5z 310 10 international international JJ cord-035342-sf0zld5z 310 11 investments investment NNS cord-035342-sf0zld5z 310 12 , , , cord-035342-sf0zld5z 310 13 investors investor NNS cord-035342-sf0zld5z 310 14 hold hold VBP cord-035342-sf0zld5z 310 15 a a DT cord-035342-sf0zld5z 310 16 higher high JJR cord-035342-sf0zld5z 310 17 share share NN cord-035342-sf0zld5z 310 18 of of IN cord-035342-sf0zld5z 310 19 domestic domestic JJ cord-035342-sf0zld5z 310 20 assets asset NNS cord-035342-sf0zld5z 310 21 than than IN cord-035342-sf0zld5z 310 22 expected expect VBN cord-035342-sf0zld5z 310 23 by by IN cord-035342-sf0zld5z 310 24 standard standard JJ cord-035342-sf0zld5z 310 25 portfolio portfolio NN cord-035342-sf0zld5z 310 26 theory theory NN cord-035342-sf0zld5z 310 27 ( ( -LRB- cord-035342-sf0zld5z 310 28 Stulz Stulz NNP cord-035342-sf0zld5z 310 29 1981a 1981a CD cord-035342-sf0zld5z 310 30 ) ) -RRB- cord-035342-sf0zld5z 310 31 . . . cord-035342-sf0zld5z 311 1 The the DT cord-035342-sf0zld5z 311 2 result result NN cord-035342-sf0zld5z 311 3 can can MD cord-035342-sf0zld5z 311 4 be be VB cord-035342-sf0zld5z 311 5 considered consider VBN cord-035342-sf0zld5z 311 6 as as IN cord-035342-sf0zld5z 311 7 a a DT cord-035342-sf0zld5z 311 8 first first JJ cord-035342-sf0zld5z 311 9 step step NN cord-035342-sf0zld5z 311 10 of of IN cord-035342-sf0zld5z 311 11 doubting doubt VBG cord-035342-sf0zld5z 311 12 explicit explicit JJ cord-035342-sf0zld5z 311 13 barriers barrier NNS cord-035342-sf0zld5z 311 14 to to IN cord-035342-sf0zld5z 311 15 investment investment NN cord-035342-sf0zld5z 311 16 as as IN cord-035342-sf0zld5z 311 17 an an DT cord-035342-sf0zld5z 311 18 explanation explanation NN cord-035342-sf0zld5z 311 19 for for IN cord-035342-sf0zld5z 311 20 home home NN cord-035342-sf0zld5z 311 21 bias bias NN cord-035342-sf0zld5z 311 22 . . . cord-035342-sf0zld5z 312 1 In in IN cord-035342-sf0zld5z 312 2 order order NN cord-035342-sf0zld5z 312 3 to to TO cord-035342-sf0zld5z 312 4 assume assume VB cord-035342-sf0zld5z 312 5 transaction transaction NN cord-035342-sf0zld5z 312 6 costs cost NNS cord-035342-sf0zld5z 312 7 as as IN cord-035342-sf0zld5z 312 8 a a DT cord-035342-sf0zld5z 312 9 reason reason NN cord-035342-sf0zld5z 312 10 , , , cord-035342-sf0zld5z 312 11 risk risk NN cord-035342-sf0zld5z 312 12 aversion aversion NN cord-035342-sf0zld5z 312 13 levels level NNS cord-035342-sf0zld5z 312 14 have have VBP cord-035342-sf0zld5z 312 15 to to TO cord-035342-sf0zld5z 312 16 be be VB cord-035342-sf0zld5z 312 17 set set VBN cord-035342-sf0zld5z 312 18 to to IN cord-035342-sf0zld5z 312 19 unreasonable unreasonable JJ cord-035342-sf0zld5z 312 20 extents extent NNS cord-035342-sf0zld5z 312 21 that that WDT cord-035342-sf0zld5z 312 22 can can MD cord-035342-sf0zld5z 312 23 not not RB cord-035342-sf0zld5z 312 24 be be VB cord-035342-sf0zld5z 312 25 shown show VBN cord-035342-sf0zld5z 312 26 in in IN cord-035342-sf0zld5z 312 27 data datum NNS cord-035342-sf0zld5z 312 28 ( ( -LRB- cord-035342-sf0zld5z 312 29 Cooper Cooper NNP cord-035342-sf0zld5z 312 30 and and CC cord-035342-sf0zld5z 312 31 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 312 32 1994 1994 CD cord-035342-sf0zld5z 312 33 ) ) -RRB- cord-035342-sf0zld5z 312 34 . . . cord-035342-sf0zld5z 313 1 Tesar Tesar NNP cord-035342-sf0zld5z 313 2 and and CC cord-035342-sf0zld5z 313 3 Werner Werner NNP cord-035342-sf0zld5z 313 4 ( ( -LRB- cord-035342-sf0zld5z 313 5 1995 1995 CD cord-035342-sf0zld5z 313 6 ) ) -RRB- cord-035342-sf0zld5z 313 7 explain explain VBP cord-035342-sf0zld5z 313 8 that that IN cord-035342-sf0zld5z 313 9 the the DT cord-035342-sf0zld5z 313 10 turnover turnover NN cord-035342-sf0zld5z 313 11 rates rate NNS cord-035342-sf0zld5z 313 12 for for IN cord-035342-sf0zld5z 313 13 foreign foreign JJ cord-035342-sf0zld5z 313 14 stocks stock NNS cord-035342-sf0zld5z 313 15 are be VBP cord-035342-sf0zld5z 313 16 higher high JJR cord-035342-sf0zld5z 313 17 than than IN cord-035342-sf0zld5z 313 18 for for IN cord-035342-sf0zld5z 313 19 domestic domestic JJ cord-035342-sf0zld5z 313 20 stocks stock NNS cord-035342-sf0zld5z 313 21 . . . cord-035342-sf0zld5z 314 1 Given give VBN cord-035342-sf0zld5z 314 2 that that DT cord-035342-sf0zld5z 314 3 fact fact NN cord-035342-sf0zld5z 314 4 , , , cord-035342-sf0zld5z 314 5 transaction transaction NN cord-035342-sf0zld5z 314 6 barriers barrier NNS cord-035342-sf0zld5z 314 7 and and CC cord-035342-sf0zld5z 314 8 costs cost NNS cord-035342-sf0zld5z 314 9 can can MD cord-035342-sf0zld5z 314 10 not not RB cord-035342-sf0zld5z 314 11 be be VB cord-035342-sf0zld5z 314 12 considered consider VBN cord-035342-sf0zld5z 314 13 as as IN cord-035342-sf0zld5z 314 14 a a DT cord-035342-sf0zld5z 314 15 plausible plausible JJ cord-035342-sf0zld5z 314 16 explanation explanation NN cord-035342-sf0zld5z 314 17 . . . cord-035342-sf0zld5z 315 1 Also also RB cord-035342-sf0zld5z 315 2 , , , cord-035342-sf0zld5z 315 3 French French NNP cord-035342-sf0zld5z 315 4 and and CC cord-035342-sf0zld5z 315 5 Poterba Poterba NNP cord-035342-sf0zld5z 315 6 ( ( -LRB- cord-035342-sf0zld5z 315 7 1991 1991 CD cord-035342-sf0zld5z 315 8 ) ) -RRB- cord-035342-sf0zld5z 315 9 support support VBP cord-035342-sf0zld5z 315 10 the the DT cord-035342-sf0zld5z 315 11 hypothesis hypothesis NN cord-035342-sf0zld5z 315 12 that that IN cord-035342-sf0zld5z 315 13 taxes taxis NNS cord-035342-sf0zld5z 315 14 are be VBP cord-035342-sf0zld5z 315 15 possibly possibly RB cord-035342-sf0zld5z 315 16 not not RB cord-035342-sf0zld5z 315 17 the the DT cord-035342-sf0zld5z 315 18 reason reason NN cord-035342-sf0zld5z 315 19 for for IN cord-035342-sf0zld5z 315 20 home home NN cord-035342-sf0zld5z 315 21 bias bias NN cord-035342-sf0zld5z 315 22 . . . cord-035342-sf0zld5z 316 1 In in IN cord-035342-sf0zld5z 316 2 a a DT cord-035342-sf0zld5z 316 3 more more RBR cord-035342-sf0zld5z 316 4 recent recent JJ cord-035342-sf0zld5z 316 5 reconsideration reconsideration NN cord-035342-sf0zld5z 316 6 of of IN cord-035342-sf0zld5z 316 7 Tesar Tesar NNP cord-035342-sf0zld5z 316 8 and and CC cord-035342-sf0zld5z 316 9 Werner Werner NNP cord-035342-sf0zld5z 316 10 ( ( -LRB- cord-035342-sf0zld5z 316 11 1995 1995 CD cord-035342-sf0zld5z 316 12 ) ) -RRB- cord-035342-sf0zld5z 316 13 , , , cord-035342-sf0zld5z 316 14 Warnock Warnock NNP cord-035342-sf0zld5z 316 15 ( ( -LRB- cord-035342-sf0zld5z 316 16 2002 2002 CD cord-035342-sf0zld5z 316 17 ) ) -RRB- cord-035342-sf0zld5z 316 18 approves approve VBZ cord-035342-sf0zld5z 316 19 the the DT cord-035342-sf0zld5z 316 20 basic basic JJ cord-035342-sf0zld5z 316 21 finding finding NN cord-035342-sf0zld5z 316 22 : : : cord-035342-sf0zld5z 316 23 transaction transaction NN cord-035342-sf0zld5z 316 24 costs cost NNS cord-035342-sf0zld5z 316 25 are be VBP cord-035342-sf0zld5z 316 26 not not RB cord-035342-sf0zld5z 316 27 able able JJ cord-035342-sf0zld5z 316 28 to to TO cord-035342-sf0zld5z 316 29 explain explain VB cord-035342-sf0zld5z 316 30 home home NN cord-035342-sf0zld5z 316 31 bias bias NN cord-035342-sf0zld5z 316 32 . . . cord-035342-sf0zld5z 317 1 Model model NN cord-035342-sf0zld5z 317 2 - - HYPH cord-035342-sf0zld5z 317 3 based base VBN cord-035342-sf0zld5z 317 4 , , , cord-035342-sf0zld5z 317 5 Michaelides Michaelides NNP cord-035342-sf0zld5z 317 6 ( ( -LRB- cord-035342-sf0zld5z 317 7 2003 2003 CD cord-035342-sf0zld5z 317 8 ) ) -RRB- cord-035342-sf0zld5z 317 9 shows show VBZ cord-035342-sf0zld5z 317 10 that that IN cord-035342-sf0zld5z 317 11 small small JJ cord-035342-sf0zld5z 317 12 additional additional JJ cord-035342-sf0zld5z 317 13 costs cost NNS cord-035342-sf0zld5z 317 14 to to IN cord-035342-sf0zld5z 317 15 foreign foreign JJ cord-035342-sf0zld5z 317 16 investments investment NNS cord-035342-sf0zld5z 317 17 can can MD cord-035342-sf0zld5z 317 18 generate generate VB cord-035342-sf0zld5z 317 19 a a DT cord-035342-sf0zld5z 317 20 home home NN cord-035342-sf0zld5z 317 21 bias bias NN cord-035342-sf0zld5z 317 22 . . . cord-035342-sf0zld5z 318 1 These these DT cord-035342-sf0zld5z 318 2 costs cost NNS cord-035342-sf0zld5z 318 3 may may MD cord-035342-sf0zld5z 318 4 result result VB cord-035342-sf0zld5z 318 5 from from IN cord-035342-sf0zld5z 318 6 fees fee NNS cord-035342-sf0zld5z 318 7 to to IN cord-035342-sf0zld5z 318 8 international international JJ cord-035342-sf0zld5z 318 9 investment investment NN cord-035342-sf0zld5z 318 10 or or CC cord-035342-sf0zld5z 318 11 costs cost NNS cord-035342-sf0zld5z 318 12 of of IN cord-035342-sf0zld5z 318 13 opening open VBG cord-035342-sf0zld5z 318 14 a a DT cord-035342-sf0zld5z 318 15 foreign foreign JJ cord-035342-sf0zld5z 318 16 account account NN cord-035342-sf0zld5z 318 17 . . . cord-035342-sf0zld5z 319 1 Michaelides Michaelides NNP cord-035342-sf0zld5z 319 2 also also RB cord-035342-sf0zld5z 319 3 suggests suggest VBZ cord-035342-sf0zld5z 319 4 information information NN cord-035342-sf0zld5z 319 5 asymmetry asymmetry NN cord-035342-sf0zld5z 319 6 as as IN cord-035342-sf0zld5z 319 7 a a DT cord-035342-sf0zld5z 319 8 reason reason NN cord-035342-sf0zld5z 319 9 . . . cord-035342-sf0zld5z 320 1 Very very RB cord-035342-sf0zld5z 320 2 high high JJ cord-035342-sf0zld5z 320 3 taxes taxis NNS cord-035342-sf0zld5z 320 4 and and CC cord-035342-sf0zld5z 320 5 cross cross NN cord-035342-sf0zld5z 320 6 border border NN cord-035342-sf0zld5z 320 7 taxation taxation NN cord-035342-sf0zld5z 320 8 may may MD cord-035342-sf0zld5z 320 9 lead lead VB cord-035342-sf0zld5z 320 10 to to IN cord-035342-sf0zld5z 320 11 home home NN cord-035342-sf0zld5z 320 12 bias bias NN cord-035342-sf0zld5z 321 1 ( ( -LRB- cord-035342-sf0zld5z 321 2 Mishra Mishra NNP cord-035342-sf0zld5z 321 3 and and CC cord-035342-sf0zld5z 321 4 Ratti Ratti NNP cord-035342-sf0zld5z 321 5 2013 2013 CD cord-035342-sf0zld5z 321 6 ) ) -RRB- cord-035342-sf0zld5z 321 7 . . . cord-035342-sf0zld5z 322 1 However however RB cord-035342-sf0zld5z 322 2 , , , cord-035342-sf0zld5z 322 3 such such JJ cord-035342-sf0zld5z 322 4 high high JJ cord-035342-sf0zld5z 322 5 tax tax NN cord-035342-sf0zld5z 322 6 rates rate NNS cord-035342-sf0zld5z 322 7 do do VBP cord-035342-sf0zld5z 322 8 not not RB cord-035342-sf0zld5z 322 9 seem seem VB cord-035342-sf0zld5z 322 10 to to TO cord-035342-sf0zld5z 322 11 be be VB cord-035342-sf0zld5z 322 12 existent existent JJ cord-035342-sf0zld5z 322 13 in in IN cord-035342-sf0zld5z 322 14 today today NN cord-035342-sf0zld5z 322 15 's 's POS cord-035342-sf0zld5z 322 16 economy economy NN cord-035342-sf0zld5z 322 17 . . . cord-035342-sf0zld5z 323 1 An an DT cord-035342-sf0zld5z 323 2 appropriate appropriate JJ cord-035342-sf0zld5z 323 3 treatment treatment NN cord-035342-sf0zld5z 323 4 by by IN cord-035342-sf0zld5z 323 5 countries country NNS cord-035342-sf0zld5z 323 6 ' ' POS cord-035342-sf0zld5z 323 7 policy policy NN cord-035342-sf0zld5z 323 8 makers maker NNS cord-035342-sf0zld5z 323 9 with with IN cord-035342-sf0zld5z 323 10 double double JJ cord-035342-sf0zld5z 323 11 taxation taxation NN cord-035342-sf0zld5z 323 12 is be VBZ cord-035342-sf0zld5z 323 13 important important JJ cord-035342-sf0zld5z 323 14 . . . cord-035342-sf0zld5z 324 1 As as IN cord-035342-sf0zld5z 324 2 there there EX cord-035342-sf0zld5z 324 3 has have VBZ cord-035342-sf0zld5z 324 4 been be VBN cord-035342-sf0zld5z 324 5 more more JJR cord-035342-sf0zld5z 324 6 deregulation deregulation NN cord-035342-sf0zld5z 324 7 and and CC cord-035342-sf0zld5z 324 8 liberalization liberalization NN cord-035342-sf0zld5z 324 9 of of IN cord-035342-sf0zld5z 324 10 capital capital NN cord-035342-sf0zld5z 324 11 markets market NNS cord-035342-sf0zld5z 324 12 and and CC cord-035342-sf0zld5z 324 13 capital capital NN cord-035342-sf0zld5z 324 14 flows flow VBZ cord-035342-sf0zld5z 324 15 over over IN cord-035342-sf0zld5z 324 16 the the DT cord-035342-sf0zld5z 324 17 last last JJ cord-035342-sf0zld5z 324 18 decades decade NNS cord-035342-sf0zld5z 324 19 , , , cord-035342-sf0zld5z 324 20 home home NN cord-035342-sf0zld5z 324 21 bias bias NN cord-035342-sf0zld5z 324 22 should should MD cord-035342-sf0zld5z 324 23 have have VB cord-035342-sf0zld5z 324 24 been be VBN cord-035342-sf0zld5z 324 25 decreased decrease VBN cord-035342-sf0zld5z 324 26 significantly significantly RB cord-035342-sf0zld5z 324 27 which which WDT cord-035342-sf0zld5z 324 28 is be VBZ cord-035342-sf0zld5z 324 29 not not RB cord-035342-sf0zld5z 324 30 the the DT cord-035342-sf0zld5z 324 31 case case NN cord-035342-sf0zld5z 324 32 . . . cord-035342-sf0zld5z 325 1 Recent recent JJ cord-035342-sf0zld5z 325 2 studies study NNS cord-035342-sf0zld5z 325 3 challenge challenge VBP cord-035342-sf0zld5z 325 4 explicit explicit JJ cord-035342-sf0zld5z 325 5 barriers barrier NNS cord-035342-sf0zld5z 325 6 as as IN cord-035342-sf0zld5z 325 7 an an DT cord-035342-sf0zld5z 325 8 important important JJ cord-035342-sf0zld5z 325 9 reason reason NN cord-035342-sf0zld5z 325 10 . . . cord-035342-sf0zld5z 326 1 Ahearne Ahearne NNP cord-035342-sf0zld5z 326 2 et et NNP cord-035342-sf0zld5z 326 3 al al NNP cord-035342-sf0zld5z 326 4 . . . cord-035342-sf0zld5z 327 1 ( ( -LRB- cord-035342-sf0zld5z 327 2 2004 2004 CD cord-035342-sf0zld5z 327 3 ) ) -RRB- cord-035342-sf0zld5z 327 4 test test VB cord-035342-sf0zld5z 327 5 the the DT cord-035342-sf0zld5z 327 6 impact impact NN cord-035342-sf0zld5z 327 7 of of IN cord-035342-sf0zld5z 327 8 direct direct JJ cord-035342-sf0zld5z 327 9 and and CC cord-035342-sf0zld5z 327 10 explicit explicit JJ cord-035342-sf0zld5z 327 11 barriers barrier NNS cord-035342-sf0zld5z 327 12 on on IN cord-035342-sf0zld5z 327 13 international international JJ cord-035342-sf0zld5z 327 14 investment investment NN cord-035342-sf0zld5z 327 15 . . . cord-035342-sf0zld5z 328 1 They -PRON- PRP cord-035342-sf0zld5z 328 2 find find VBP cord-035342-sf0zld5z 328 3 that that IN cord-035342-sf0zld5z 328 4 even even RB cord-035342-sf0zld5z 328 5 though though IN cord-035342-sf0zld5z 328 6 these these DT cord-035342-sf0zld5z 328 7 barriers barrier NNS cord-035342-sf0zld5z 328 8 are be VBP cord-035342-sf0zld5z 328 9 statistically statistically RB cord-035342-sf0zld5z 328 10 significant significant JJ cord-035342-sf0zld5z 328 11 they -PRON- PRP cord-035342-sf0zld5z 328 12 are be VBP cord-035342-sf0zld5z 328 13 not not RB cord-035342-sf0zld5z 328 14 economically economically RB cord-035342-sf0zld5z 328 15 meaningful meaningful JJ cord-035342-sf0zld5z 328 16 . . . cord-035342-sf0zld5z 329 1 Dahlquist Dahlquist NNP cord-035342-sf0zld5z 329 2 et et FW cord-035342-sf0zld5z 329 3 al al NNP cord-035342-sf0zld5z 329 4 . . . cord-035342-sf0zld5z 330 1 ( ( -LRB- cord-035342-sf0zld5z 330 2 2003 2003 CD cord-035342-sf0zld5z 330 3 ) ) -RRB- cord-035342-sf0zld5z 330 4 , , , cord-035342-sf0zld5z 330 5 Coën Coën NNP cord-035342-sf0zld5z 330 6 ( ( -LRB- cord-035342-sf0zld5z 330 7 2001 2001 CD cord-035342-sf0zld5z 330 8 ) ) -RRB- cord-035342-sf0zld5z 330 9 , , , cord-035342-sf0zld5z 330 10 Glassman Glassman NNP cord-035342-sf0zld5z 330 11 and and CC cord-035342-sf0zld5z 330 12 Riddick Riddick NNP cord-035342-sf0zld5z 330 13 ( ( -LRB- cord-035342-sf0zld5z 330 14 2001 2001 CD cord-035342-sf0zld5z 330 15 ) ) -RRB- cord-035342-sf0zld5z 330 16 and and CC cord-035342-sf0zld5z 330 17 Baltzer Baltzer NNP cord-035342-sf0zld5z 330 18 et et NNP cord-035342-sf0zld5z 330 19 al al NNP cord-035342-sf0zld5z 330 20 . . . cord-035342-sf0zld5z 331 1 ( ( -LRB- cord-035342-sf0zld5z 331 2 2013 2013 CD cord-035342-sf0zld5z 331 3 ) ) -RRB- cord-035342-sf0zld5z 331 4 challenge challenge VBP cord-035342-sf0zld5z 331 5 the the DT cord-035342-sf0zld5z 331 6 explanations explanation NNS cord-035342-sf0zld5z 331 7 of of IN cord-035342-sf0zld5z 331 8 home home NN cord-035342-sf0zld5z 331 9 bias bias NN cord-035342-sf0zld5z 331 10 induced induce VBN cord-035342-sf0zld5z 331 11 by by IN cord-035342-sf0zld5z 331 12 explicit explicit JJ cord-035342-sf0zld5z 331 13 barriers barrier NNS cord-035342-sf0zld5z 331 14 as as RB cord-035342-sf0zld5z 331 15 well well RB cord-035342-sf0zld5z 331 16 . . . cord-035342-sf0zld5z 332 1 None none NN cord-035342-sf0zld5z 332 2 of of IN cord-035342-sf0zld5z 332 3 the the DT cord-035342-sf0zld5z 332 4 studies study NNS cord-035342-sf0zld5z 332 5 directly directly RB cord-035342-sf0zld5z 332 6 rejects reject VBZ cord-035342-sf0zld5z 332 7 any any DT cord-035342-sf0zld5z 332 8 influence influence NN cord-035342-sf0zld5z 332 9 of of IN cord-035342-sf0zld5z 332 10 transaction transaction NN cord-035342-sf0zld5z 332 11 costs cost NNS cord-035342-sf0zld5z 332 12 on on IN cord-035342-sf0zld5z 332 13 home home NN cord-035342-sf0zld5z 332 14 bias bias NN cord-035342-sf0zld5z 332 15 at at RB cord-035342-sf0zld5z 332 16 all all RB cord-035342-sf0zld5z 332 17 , , , cord-035342-sf0zld5z 332 18 it -PRON- PRP cord-035342-sf0zld5z 332 19 is be VBZ cord-035342-sf0zld5z 332 20 rather rather RB cord-035342-sf0zld5z 332 21 that that IN cord-035342-sf0zld5z 332 22 transaction transaction NN cord-035342-sf0zld5z 332 23 costs cost NNS cord-035342-sf0zld5z 332 24 and and CC cord-035342-sf0zld5z 332 25 taxes taxis NNS cord-035342-sf0zld5z 332 26 as as IN cord-035342-sf0zld5z 332 27 the the DT cord-035342-sf0zld5z 332 28 single single JJ cord-035342-sf0zld5z 332 29 reason reason NN cord-035342-sf0zld5z 332 30 are be VBP cord-035342-sf0zld5z 332 31 unable unable JJ cord-035342-sf0zld5z 332 32 to to TO cord-035342-sf0zld5z 332 33 fully fully RB cord-035342-sf0zld5z 332 34 explain explain VB cord-035342-sf0zld5z 332 35 home home NN cord-035342-sf0zld5z 332 36 bias bias NN cord-035342-sf0zld5z 332 37 . . . cord-035342-sf0zld5z 333 1 There there EX cord-035342-sf0zld5z 333 2 is be VBZ cord-035342-sf0zld5z 333 3 support support NN cord-035342-sf0zld5z 333 4 of of IN cord-035342-sf0zld5z 333 5 the the DT cord-035342-sf0zld5z 333 6 fact fact NN cord-035342-sf0zld5z 333 7 that that IN cord-035342-sf0zld5z 333 8 direct direct JJ cord-035342-sf0zld5z 333 9 costs cost NNS cord-035342-sf0zld5z 333 10 on on IN cord-035342-sf0zld5z 333 11 foreign foreign JJ cord-035342-sf0zld5z 333 12 investments investment NNS cord-035342-sf0zld5z 333 13 exist exist VBP cord-035342-sf0zld5z 333 14 and and CC cord-035342-sf0zld5z 333 15 contribute contribute VBP cord-035342-sf0zld5z 333 16 to to IN cord-035342-sf0zld5z 333 17 a a DT cord-035342-sf0zld5z 333 18 certain certain JJ cord-035342-sf0zld5z 333 19 , , , cord-035342-sf0zld5z 333 20 however however RB cord-035342-sf0zld5z 333 21 undefined undefined JJ cord-035342-sf0zld5z 333 22 , , , cord-035342-sf0zld5z 333 23 degree degree NN cord-035342-sf0zld5z 333 24 of of IN cord-035342-sf0zld5z 333 25 home home NN cord-035342-sf0zld5z 333 26 bias bias NN cord-035342-sf0zld5z 333 27 . . . cord-035342-sf0zld5z 334 1 This this DT cord-035342-sf0zld5z 334 2 seems seem VBZ cord-035342-sf0zld5z 334 3 plausible plausible JJ cord-035342-sf0zld5z 334 4 since since IN cord-035342-sf0zld5z 334 5 there there EX cord-035342-sf0zld5z 334 6 are be VBP cord-035342-sf0zld5z 334 7 still still RB cord-035342-sf0zld5z 334 8 some some DT cord-035342-sf0zld5z 334 9 kind kind NN cord-035342-sf0zld5z 334 10 of of IN cord-035342-sf0zld5z 334 11 cross cross JJ cord-035342-sf0zld5z 334 12 - - JJ cord-035342-sf0zld5z 334 13 border border JJ cord-035342-sf0zld5z 334 14 transaction transaction NN cord-035342-sf0zld5z 334 15 costs cost NNS cord-035342-sf0zld5z 334 16 in in IN cord-035342-sf0zld5z 334 17 most most JJS cord-035342-sf0zld5z 334 18 countries country NNS cord-035342-sf0zld5z 334 19 . . . cord-035342-sf0zld5z 335 1 Costs cost NNS cord-035342-sf0zld5z 335 2 for for IN cord-035342-sf0zld5z 335 3 foreign foreign JJ cord-035342-sf0zld5z 335 4 investments investment NNS cord-035342-sf0zld5z 335 5 have have VBP cord-035342-sf0zld5z 335 6 decreased decrease VBN cord-035342-sf0zld5z 335 7 enormously enormously RB cord-035342-sf0zld5z 335 8 in in IN cord-035342-sf0zld5z 335 9 the the DT cord-035342-sf0zld5z 335 10 last last JJ cord-035342-sf0zld5z 335 11 decades decade NNS cord-035342-sf0zld5z 335 12 ( ( -LRB- cord-035342-sf0zld5z 335 13 Levy Levy NNP cord-035342-sf0zld5z 335 14 and and CC cord-035342-sf0zld5z 335 15 Levy Levy NNP cord-035342-sf0zld5z 335 16 2014 2014 CD cord-035342-sf0zld5z 335 17 ) ) -RRB- cord-035342-sf0zld5z 335 18 . . . cord-035342-sf0zld5z 336 1 The the DT cord-035342-sf0zld5z 336 2 existence existence NN cord-035342-sf0zld5z 336 3 of of IN cord-035342-sf0zld5z 336 4 costs cost NNS cord-035342-sf0zld5z 336 5 on on IN cord-035342-sf0zld5z 336 6 foreign foreign JJ cord-035342-sf0zld5z 336 7 investments investment NNS cord-035342-sf0zld5z 336 8 is be VBZ cord-035342-sf0zld5z 336 9 confirmed confirm VBN cord-035342-sf0zld5z 336 10 , , , cord-035342-sf0zld5z 336 11 but but CC cord-035342-sf0zld5z 336 12 these these DT cord-035342-sf0zld5z 336 13 costs cost NNS cord-035342-sf0zld5z 336 14 do do VBP cord-035342-sf0zld5z 336 15 not not RB cord-035342-sf0zld5z 336 16 serve serve VB cord-035342-sf0zld5z 336 17 as as IN cord-035342-sf0zld5z 336 18 an an DT cord-035342-sf0zld5z 336 19 explanation explanation NN cord-035342-sf0zld5z 336 20 of of IN cord-035342-sf0zld5z 336 21 home home NN cord-035342-sf0zld5z 336 22 bias bias NN cord-035342-sf0zld5z 336 23 . . . cord-035342-sf0zld5z 337 1 Due due IN cord-035342-sf0zld5z 337 2 to to IN cord-035342-sf0zld5z 337 3 the the DT cord-035342-sf0zld5z 337 4 decrease decrease NN cord-035342-sf0zld5z 337 5 in in IN cord-035342-sf0zld5z 337 6 general general JJ cord-035342-sf0zld5z 337 7 foreign foreign JJ cord-035342-sf0zld5z 337 8 investment investment NN cord-035342-sf0zld5z 337 9 costs cost VBZ cord-035342-sf0zld5z 337 10 the the DT cord-035342-sf0zld5z 337 11 home home NN cord-035342-sf0zld5z 337 12 bias bias NN cord-035342-sf0zld5z 337 13 should should MD cord-035342-sf0zld5z 337 14 have have VB cord-035342-sf0zld5z 337 15 been be VBN cord-035342-sf0zld5z 337 16 decreased decrease VBN cord-035342-sf0zld5z 337 17 as as RB cord-035342-sf0zld5z 337 18 well well RB cord-035342-sf0zld5z 337 19 . . . cord-035342-sf0zld5z 338 1 Correlation correlation NN cord-035342-sf0zld5z 338 2 of of IN cord-035342-sf0zld5z 338 3 markets market NNS cord-035342-sf0zld5z 338 4 leads lead VBZ cord-035342-sf0zld5z 338 5 to to IN cord-035342-sf0zld5z 338 6 extra extra JJ cord-035342-sf0zld5z 338 7 costs cost NNS cord-035342-sf0zld5z 338 8 for for IN cord-035342-sf0zld5z 338 9 investors investor NNS cord-035342-sf0zld5z 338 10 . . . cord-035342-sf0zld5z 339 1 Since since IN cord-035342-sf0zld5z 339 2 correlation correlation NN cord-035342-sf0zld5z 339 3 of of IN cord-035342-sf0zld5z 339 4 markets market NNS cord-035342-sf0zld5z 339 5 has have VBZ cord-035342-sf0zld5z 339 6 increased increase VBN cord-035342-sf0zld5z 339 7 significantly significantly RB cord-035342-sf0zld5z 339 8 , , , cord-035342-sf0zld5z 339 9 the the DT cord-035342-sf0zld5z 339 10 sum sum NN cord-035342-sf0zld5z 339 11 of of IN cord-035342-sf0zld5z 339 12 the the DT cord-035342-sf0zld5z 339 13 costs cost NNS cord-035342-sf0zld5z 339 14 remains remain VBZ cord-035342-sf0zld5z 339 15 stable stable JJ cord-035342-sf0zld5z 339 16 and and CC cord-035342-sf0zld5z 339 17 thus thus RB cord-035342-sf0zld5z 339 18 home home NN cord-035342-sf0zld5z 339 19 bias bias NN cord-035342-sf0zld5z 339 20 as as RB cord-035342-sf0zld5z 339 21 well well RB cord-035342-sf0zld5z 340 1 ( ( -LRB- cord-035342-sf0zld5z 340 2 Levy Levy NNP cord-035342-sf0zld5z 340 3 and and CC cord-035342-sf0zld5z 340 4 Levy Levy NNP cord-035342-sf0zld5z 340 5 2014 2014 CD cord-035342-sf0zld5z 340 6 ) ) -RRB- cord-035342-sf0zld5z 340 7 . . . cord-035342-sf0zld5z 341 1 The the DT cord-035342-sf0zld5z 341 2 induced induce VBN cord-035342-sf0zld5z 341 3 additional additional JJ cord-035342-sf0zld5z 341 4 cost cost NN cord-035342-sf0zld5z 341 5 is be VBZ cord-035342-sf0zld5z 341 6 proportional proportional JJ cord-035342-sf0zld5z 341 7 to to IN cord-035342-sf0zld5z 341 8 the the DT cord-035342-sf0zld5z 341 9 so so RB cord-035342-sf0zld5z 341 10 - - HYPH cord-035342-sf0zld5z 341 11 called call VBN cord-035342-sf0zld5z 341 12 ' ' '' cord-035342-sf0zld5z 341 13 home home NN cord-035342-sf0zld5z 341 14 bias bias NN cord-035342-sf0zld5z 341 15 magnification magnification NN cord-035342-sf0zld5z 341 16 ' ' '' cord-035342-sf0zld5z 341 17 ( ( -LRB- cord-035342-sf0zld5z 341 18 HBM HBM NNP cord-035342-sf0zld5z 341 19 ) ) -RRB- cord-035342-sf0zld5z 341 20 factor factor NN cord-035342-sf0zld5z 341 21 that that WDT cord-035342-sf0zld5z 341 22 can can MD cord-035342-sf0zld5z 341 23 be be VB cord-035342-sf0zld5z 341 24 calculated calculate VBN cord-035342-sf0zld5z 341 25 with with IN cord-035342-sf0zld5z 341 26 the the DT cord-035342-sf0zld5z 341 27 following following JJ cord-035342-sf0zld5z 341 28 formula formula NN cord-035342-sf0zld5z 341 29 , , , cord-035342-sf0zld5z 341 30 " " '' cord-035342-sf0zld5z 341 31 where where WRB cord-035342-sf0zld5z 341 32 ρ ρ NNP cord-035342-sf0zld5z 341 33 is be VBZ cord-035342-sf0zld5z 341 34 the the DT cord-035342-sf0zld5z 341 35 average average JJ cord-035342-sf0zld5z 341 36 correlation correlation NN cord-035342-sf0zld5z 341 37 between between IN cord-035342-sf0zld5z 341 38 markets market NNS cord-035342-sf0zld5z 341 39 " " '' cord-035342-sf0zld5z 341 40 ( ( -LRB- cord-035342-sf0zld5z 341 41 Levy Levy NNP cord-035342-sf0zld5z 341 42 and and CC cord-035342-sf0zld5z 341 43 Levy Levy NNP cord-035342-sf0zld5z 341 44 2014 2014 CD cord-035342-sf0zld5z 341 45 ) ) -RRB- cord-035342-sf0zld5z 341 46 : : : cord-035342-sf0zld5z 341 47 The the DT cord-035342-sf0zld5z 341 48 HBM HBM NNP cord-035342-sf0zld5z 341 49 explains explain VBZ cord-035342-sf0zld5z 341 50 the the DT cord-035342-sf0zld5z 341 51 finding finding NN cord-035342-sf0zld5z 341 52 that that IN cord-035342-sf0zld5z 341 53 there there EX cord-035342-sf0zld5z 341 54 is be VBZ cord-035342-sf0zld5z 341 55 no no DT cord-035342-sf0zld5z 341 56 economic economic JJ cord-035342-sf0zld5z 341 57 benefit benefit NN cord-035342-sf0zld5z 341 58 from from IN cord-035342-sf0zld5z 341 59 investing invest VBG cord-035342-sf0zld5z 341 60 abroad abroad RB cord-035342-sf0zld5z 341 61 in in IN cord-035342-sf0zld5z 341 62 highly highly RB cord-035342-sf0zld5z 341 63 correlated correlate VBN cord-035342-sf0zld5z 341 64 markets market NNS cord-035342-sf0zld5z 341 65 . . . cord-035342-sf0zld5z 342 1 In in IN cord-035342-sf0zld5z 342 2 summary summary NN cord-035342-sf0zld5z 342 3 , , , cord-035342-sf0zld5z 342 4 high high JJ cord-035342-sf0zld5z 342 5 correlation correlation NN cord-035342-sf0zld5z 342 6 equals equal VBZ cord-035342-sf0zld5z 342 7 low low JJ cord-035342-sf0zld5z 342 8 diversification diversification NN cord-035342-sf0zld5z 342 9 gains gain NNS cord-035342-sf0zld5z 342 10 . . . cord-035342-sf0zld5z 343 1 Based base VBN cord-035342-sf0zld5z 343 2 on on IN cord-035342-sf0zld5z 343 3 a a DT cord-035342-sf0zld5z 343 4 model model NN cord-035342-sf0zld5z 343 5 , , , cord-035342-sf0zld5z 343 6 Michaelides Michaelides NNP cord-035342-sf0zld5z 343 7 ( ( -LRB- cord-035342-sf0zld5z 343 8 2003 2003 CD cord-035342-sf0zld5z 343 9 ) ) -RRB- cord-035342-sf0zld5z 343 10 also also RB cord-035342-sf0zld5z 343 11 supports support VBZ cord-035342-sf0zld5z 343 12 the the DT cord-035342-sf0zld5z 343 13 idea idea NN cord-035342-sf0zld5z 343 14 that that IN cord-035342-sf0zld5z 343 15 a a DT cord-035342-sf0zld5z 343 16 positive positive JJ cord-035342-sf0zld5z 343 17 and and CC cord-035342-sf0zld5z 343 18 strong strong JJ cord-035342-sf0zld5z 343 19 correlation correlation NN cord-035342-sf0zld5z 343 20 between between IN cord-035342-sf0zld5z 343 21 domestic domestic JJ cord-035342-sf0zld5z 343 22 and and CC cord-035342-sf0zld5z 343 23 foreign foreign JJ cord-035342-sf0zld5z 343 24 markets market NNS cord-035342-sf0zld5z 343 25 leads lead VBZ cord-035342-sf0zld5z 343 26 to to IN cord-035342-sf0zld5z 343 27 a a DT cord-035342-sf0zld5z 343 28 significant significant JJ cord-035342-sf0zld5z 343 29 home home NN cord-035342-sf0zld5z 343 30 bias bias NN cord-035342-sf0zld5z 343 31 . . . cord-035342-sf0zld5z 344 1 Internal internal JJ cord-035342-sf0zld5z 344 2 governance governance NN cord-035342-sf0zld5z 344 3 of of IN cord-035342-sf0zld5z 344 4 firms firm NNS cord-035342-sf0zld5z 344 5 is be VBZ cord-035342-sf0zld5z 344 6 seen see VBN cord-035342-sf0zld5z 344 7 as as IN cord-035342-sf0zld5z 344 8 an an DT cord-035342-sf0zld5z 344 9 institutional institutional JJ cord-035342-sf0zld5z 344 10 reason reason NN cord-035342-sf0zld5z 344 11 for for IN cord-035342-sf0zld5z 344 12 home home NN cord-035342-sf0zld5z 344 13 bias bias NN cord-035342-sf0zld5z 344 14 because because IN cord-035342-sf0zld5z 344 15 the the DT cord-035342-sf0zld5z 344 16 investors investor NNS cord-035342-sf0zld5z 344 17 are be VBP cord-035342-sf0zld5z 344 18 not not RB cord-035342-sf0zld5z 344 19 able able JJ cord-035342-sf0zld5z 344 20 to to TO cord-035342-sf0zld5z 344 21 change change VB cord-035342-sf0zld5z 344 22 any any DT cord-035342-sf0zld5z 344 23 of of IN cord-035342-sf0zld5z 344 24 these these DT cord-035342-sf0zld5z 344 25 facts fact NNS cord-035342-sf0zld5z 344 26 . . . cord-035342-sf0zld5z 345 1 According accord VBG cord-035342-sf0zld5z 345 2 to to IN cord-035342-sf0zld5z 345 3 Dahlquist Dahlquist NNP cord-035342-sf0zld5z 345 4 et et FW cord-035342-sf0zld5z 345 5 al al NNP cord-035342-sf0zld5z 345 6 . . . cord-035342-sf0zld5z 346 1 ( ( -LRB- cord-035342-sf0zld5z 346 2 2003 2003 CD cord-035342-sf0zld5z 346 3 ) ) -RRB- cord-035342-sf0zld5z 346 4 , , , cord-035342-sf0zld5z 346 5 across across IN cord-035342-sf0zld5z 346 6 51 51 CD cord-035342-sf0zld5z 346 7 countries country NNS cord-035342-sf0zld5z 346 8 32 32 CD cord-035342-sf0zld5z 346 9 % % NN cord-035342-sf0zld5z 346 10 of of IN cord-035342-sf0zld5z 346 11 shares share NNS cord-035342-sf0zld5z 346 12 are be VBP cord-035342-sf0zld5z 346 13 not not RB cord-035342-sf0zld5z 346 14 traded trade VBN cord-035342-sf0zld5z 346 15 at at RB cord-035342-sf0zld5z 346 16 all all DT cord-035342-sf0zld5z 346 17 which which WDT cord-035342-sf0zld5z 346 18 means mean VBZ cord-035342-sf0zld5z 346 19 that that IN cord-035342-sf0zld5z 346 20 these these DT cord-035342-sf0zld5z 346 21 shares share NNS cord-035342-sf0zld5z 346 22 are be VBP cord-035342-sf0zld5z 346 23 not not RB cord-035342-sf0zld5z 346 24 available available JJ cord-035342-sf0zld5z 346 25 for for IN cord-035342-sf0zld5z 346 26 public public JJ cord-035342-sf0zld5z 346 27 investors investor NNS cord-035342-sf0zld5z 346 28 . . . cord-035342-sf0zld5z 347 1 They -PRON- PRP cord-035342-sf0zld5z 347 2 are be VBP cord-035342-sf0zld5z 347 3 with with IN cord-035342-sf0zld5z 347 4 controlling control VBG cord-035342-sf0zld5z 347 5 shareholders shareholder NNS cord-035342-sf0zld5z 347 6 ( ( -LRB- cord-035342-sf0zld5z 347 7 e.g. e.g. RB cord-035342-sf0zld5z 347 8 a a DT cord-035342-sf0zld5z 347 9 family family NN cord-035342-sf0zld5z 347 10 or or CC cord-035342-sf0zld5z 347 11 similar similar JJ cord-035342-sf0zld5z 347 12 ) ) -RRB- cord-035342-sf0zld5z 347 13 . . . cord-035342-sf0zld5z 348 1 In in IN cord-035342-sf0zld5z 348 2 the the DT cord-035342-sf0zld5z 348 3 U.S. U.S. NNP cord-035342-sf0zld5z 348 4 , , , cord-035342-sf0zld5z 348 5 the the DT cord-035342-sf0zld5z 348 6 percentage percentage NN cord-035342-sf0zld5z 348 7 of of IN cord-035342-sf0zld5z 348 8 controlling control VBG cord-035342-sf0zld5z 348 9 shareholders shareholder NNS cord-035342-sf0zld5z 348 10 is be VBZ cord-035342-sf0zld5z 348 11 lower low JJR cord-035342-sf0zld5z 348 12 . . . cord-035342-sf0zld5z 349 1 Consequently consequently RB cord-035342-sf0zld5z 349 2 , , , cord-035342-sf0zld5z 349 3 investors investor NNS cord-035342-sf0zld5z 349 4 can can MD cord-035342-sf0zld5z 349 5 not not RB cord-035342-sf0zld5z 349 6 hold hold VB cord-035342-sf0zld5z 349 7 the the DT cord-035342-sf0zld5z 349 8 world world NN cord-035342-sf0zld5z 349 9 market market NN cord-035342-sf0zld5z 349 10 portfolio portfolio NN cord-035342-sf0zld5z 349 11 ( ( -LRB- cord-035342-sf0zld5z 349 12 which which WDT cord-035342-sf0zld5z 349 13 assumes assume VBZ cord-035342-sf0zld5z 349 14 that that IN cord-035342-sf0zld5z 349 15 all all DT cord-035342-sf0zld5z 349 16 stocks stock NNS cord-035342-sf0zld5z 349 17 are be VBP cord-035342-sf0zld5z 349 18 traded trade VBN cord-035342-sf0zld5z 349 19 ) ) -RRB- cord-035342-sf0zld5z 349 20 even even RB cord-035342-sf0zld5z 349 21 if if IN cord-035342-sf0zld5z 349 22 they -PRON- PRP cord-035342-sf0zld5z 349 23 would would MD cord-035342-sf0zld5z 349 24 like like VB cord-035342-sf0zld5z 349 25 to to TO cord-035342-sf0zld5z 349 26 , , , cord-035342-sf0zld5z 349 27 regardless regardless RB cord-035342-sf0zld5z 349 28 of of IN cord-035342-sf0zld5z 349 29 and and CC cord-035342-sf0zld5z 349 30 independent independent JJ cord-035342-sf0zld5z 349 31 on on IN cord-035342-sf0zld5z 349 32 any any DT cord-035342-sf0zld5z 349 33 other other JJ cord-035342-sf0zld5z 349 34 reasons reason NNS cord-035342-sf0zld5z 349 35 for for IN cord-035342-sf0zld5z 349 36 home home NN cord-035342-sf0zld5z 349 37 bias bias NN cord-035342-sf0zld5z 349 38 . . . cord-035342-sf0zld5z 350 1 Home home NN cord-035342-sf0zld5z 350 2 bias bias NN cord-035342-sf0zld5z 350 3 is be VBZ cord-035342-sf0zld5z 350 4 significantly significantly RB cord-035342-sf0zld5z 350 5 smaller small JJR cord-035342-sf0zld5z 350 6 for for IN cord-035342-sf0zld5z 350 7 the the DT cord-035342-sf0zld5z 350 8 U.S. U.S. NNP cord-035342-sf0zld5z 350 9 and and CC cord-035342-sf0zld5z 350 10 other other JJ cord-035342-sf0zld5z 350 11 countries country NNS cord-035342-sf0zld5z 350 12 taking take VBG cord-035342-sf0zld5z 350 13 into into IN cord-035342-sf0zld5z 350 14 account account NN cord-035342-sf0zld5z 350 15 the the DT cord-035342-sf0zld5z 350 16 fraction fraction NN cord-035342-sf0zld5z 350 17 of of IN cord-035342-sf0zld5z 350 18 controlling control VBG cord-035342-sf0zld5z 350 19 shareholders shareholder NNS cord-035342-sf0zld5z 350 20 . . . cord-035342-sf0zld5z 351 1 Mishra Mishra NNP cord-035342-sf0zld5z 351 2 ( ( -LRB- cord-035342-sf0zld5z 351 3 2015 2015 CD cord-035342-sf0zld5z 351 4 ) ) -RRB- cord-035342-sf0zld5z 351 5 measures measure NNS cord-035342-sf0zld5z 351 6 ' ' POS cord-035342-sf0zld5z 351 7 institutional institutional JJ cord-035342-sf0zld5z 351 8 quality quality NN cord-035342-sf0zld5z 351 9 ' ' '' cord-035342-sf0zld5z 351 10 which which WDT cord-035342-sf0zld5z 351 11 highly highly RB cord-035342-sf0zld5z 351 12 influences influence VBZ cord-035342-sf0zld5z 351 13 corporate corporate JJ cord-035342-sf0zld5z 351 14 governance governance NN cord-035342-sf0zld5z 351 15 as as RB cord-035342-sf0zld5z 351 16 well well RB cord-035342-sf0zld5z 351 17 . . . cord-035342-sf0zld5z 352 1 He -PRON- PRP cord-035342-sf0zld5z 352 2 finds find VBZ cord-035342-sf0zld5z 352 3 a a DT cord-035342-sf0zld5z 352 4 correlation correlation NN cord-035342-sf0zld5z 352 5 to to IN cord-035342-sf0zld5z 352 6 home home NN cord-035342-sf0zld5z 352 7 bias bias NN cord-035342-sf0zld5z 352 8 and and CC cord-035342-sf0zld5z 352 9 claims claim VBZ cord-035342-sf0zld5z 352 10 that that IN cord-035342-sf0zld5z 352 11 good good JJ cord-035342-sf0zld5z 352 12 corporate corporate JJ cord-035342-sf0zld5z 352 13 governance governance NN cord-035342-sf0zld5z 352 14 is be VBZ cord-035342-sf0zld5z 352 15 appreciated appreciate VBN cord-035342-sf0zld5z 352 16 and and CC cord-035342-sf0zld5z 352 17 therefore therefore RB cord-035342-sf0zld5z 352 18 leads lead VBZ cord-035342-sf0zld5z 352 19 to to TO cord-035342-sf0zld5z 352 20 lower low JJR cord-035342-sf0zld5z 352 21 home home NN cord-035342-sf0zld5z 352 22 bias bias NN cord-035342-sf0zld5z 352 23 . . . cord-035342-sf0zld5z 353 1 Poor poor JJ cord-035342-sf0zld5z 353 2 governance governance NN cord-035342-sf0zld5z 353 3 of of IN cord-035342-sf0zld5z 353 4 firms firm NNS cord-035342-sf0zld5z 353 5 can can MD cord-035342-sf0zld5z 353 6 also also RB cord-035342-sf0zld5z 353 7 be be VB cord-035342-sf0zld5z 353 8 shown show VBN cord-035342-sf0zld5z 353 9 in in IN cord-035342-sf0zld5z 353 10 another another DT cord-035342-sf0zld5z 353 11 aspect aspect NN cord-035342-sf0zld5z 353 12 , , , cord-035342-sf0zld5z 353 13 meaning mean VBG cord-035342-sf0zld5z 353 14 high high JJ cord-035342-sf0zld5z 353 15 managerial managerial JJ cord-035342-sf0zld5z 353 16 control control NN cord-035342-sf0zld5z 353 17 and and CC cord-035342-sf0zld5z 353 18 a a DT cord-035342-sf0zld5z 353 19 high high JJ cord-035342-sf0zld5z 353 20 level level NN cord-035342-sf0zld5z 353 21 of of IN cord-035342-sf0zld5z 353 22 insider insider NN cord-035342-sf0zld5z 353 23 control control NN cord-035342-sf0zld5z 353 24 . . . cord-035342-sf0zld5z 354 1 If if IN cord-035342-sf0zld5z 354 2 a a DT cord-035342-sf0zld5z 354 3 firm firm NN cord-035342-sf0zld5z 354 4 is be VBZ cord-035342-sf0zld5z 354 5 poorly poorly RB cord-035342-sf0zld5z 354 6 governed govern VBN cord-035342-sf0zld5z 354 7 , , , cord-035342-sf0zld5z 354 8 foreigners foreigner NNS cord-035342-sf0zld5z 354 9 are be VBP cord-035342-sf0zld5z 354 10 inclined inclined JJ cord-035342-sf0zld5z 354 11 to to TO cord-035342-sf0zld5z 354 12 hold hold VB cord-035342-sf0zld5z 354 13 fewer few JJR cord-035342-sf0zld5z 354 14 equities equity NNS cord-035342-sf0zld5z 354 15 of of IN cord-035342-sf0zld5z 354 16 such such JJ cord-035342-sf0zld5z 354 17 firms firm NNS cord-035342-sf0zld5z 354 18 , , , cord-035342-sf0zld5z 354 19 thus thus RB cord-035342-sf0zld5z 354 20 investing invest VBG cord-035342-sf0zld5z 354 21 more more JJR cord-035342-sf0zld5z 354 22 in in IN cord-035342-sf0zld5z 354 23 their -PRON- PRP$ cord-035342-sf0zld5z 354 24 domestic domestic JJ cord-035342-sf0zld5z 354 25 market market NN cord-035342-sf0zld5z 354 26 , , , cord-035342-sf0zld5z 354 27 exhibiting exhibit VBG cord-035342-sf0zld5z 354 28 home home NN cord-035342-sf0zld5z 354 29 bias bias NN cord-035342-sf0zld5z 354 30 ( ( -LRB- cord-035342-sf0zld5z 354 31 Leuz Leuz NNP cord-035342-sf0zld5z 354 32 et et NNP cord-035342-sf0zld5z 354 33 al al NNP cord-035342-sf0zld5z 354 34 . . . cord-035342-sf0zld5z 354 35 2009 2009 CD cord-035342-sf0zld5z 354 36 ) ) -RRB- cord-035342-sf0zld5z 354 37 . . . cord-035342-sf0zld5z 355 1 In in IN cord-035342-sf0zld5z 355 2 poorly poorly RB cord-035342-sf0zld5z 355 3 governed govern VBN cord-035342-sf0zld5z 355 4 firms firm NNS cord-035342-sf0zld5z 355 5 , , , cord-035342-sf0zld5z 355 6 expropriation expropriation NN cord-035342-sf0zld5z 355 7 and and CC cord-035342-sf0zld5z 355 8 governance governance NN cord-035342-sf0zld5z 355 9 problems problem NNS cord-035342-sf0zld5z 355 10 are be VBP cord-035342-sf0zld5z 355 11 more more RBR cord-035342-sf0zld5z 355 12 likely likely JJ cord-035342-sf0zld5z 355 13 . . . cord-035342-sf0zld5z 356 1 These these DT cord-035342-sf0zld5z 356 2 results result NNS cord-035342-sf0zld5z 356 3 can can MD cord-035342-sf0zld5z 356 4 help help VB cord-035342-sf0zld5z 356 5 to to TO cord-035342-sf0zld5z 356 6 explain explain VB cord-035342-sf0zld5z 356 7 home home NN cord-035342-sf0zld5z 356 8 bias bias NN cord-035342-sf0zld5z 356 9 . . . cord-035342-sf0zld5z 357 1 Investors investor NNS cord-035342-sf0zld5z 357 2 are be VBP cord-035342-sf0zld5z 357 3 ' ' `` cord-035342-sf0zld5z 357 4 forced force VBN cord-035342-sf0zld5z 357 5 ' ' '' cord-035342-sf0zld5z 357 6 to to TO cord-035342-sf0zld5z 357 7 invest invest VB cord-035342-sf0zld5z 357 8 disproportionately disproportionately RB cord-035342-sf0zld5z 357 9 in in IN cord-035342-sf0zld5z 357 10 their -PRON- PRP$ cord-035342-sf0zld5z 357 11 domestic domestic JJ cord-035342-sf0zld5z 357 12 country country NN cord-035342-sf0zld5z 357 13 ( ( -LRB- cord-035342-sf0zld5z 357 14 exhibit exhibit VB cord-035342-sf0zld5z 357 15 home home NN cord-035342-sf0zld5z 357 16 bias bias NN cord-035342-sf0zld5z 357 17 ) ) -RRB- cord-035342-sf0zld5z 357 18 , , , cord-035342-sf0zld5z 357 19 because because IN cord-035342-sf0zld5z 357 20 the the DT cord-035342-sf0zld5z 357 21 world world NN cord-035342-sf0zld5z 357 22 market market NN cord-035342-sf0zld5z 357 23 portfolio portfolio NN cord-035342-sf0zld5z 357 24 is be VBZ cord-035342-sf0zld5z 357 25 not not RB cord-035342-sf0zld5z 357 26 available available JJ cord-035342-sf0zld5z 357 27 to to IN cord-035342-sf0zld5z 357 28 them -PRON- PRP cord-035342-sf0zld5z 357 29 for for IN cord-035342-sf0zld5z 357 30 investment investment NN cord-035342-sf0zld5z 357 31 . . . cord-035342-sf0zld5z 358 1 French French NNP cord-035342-sf0zld5z 358 2 and and CC cord-035342-sf0zld5z 358 3 Poterba Poterba NNP cord-035342-sf0zld5z 358 4 ( ( -LRB- cord-035342-sf0zld5z 358 5 1991 1991 CD cord-035342-sf0zld5z 358 6 ) ) -RRB- cord-035342-sf0zld5z 358 7 already already RB cord-035342-sf0zld5z 358 8 mention mention VB cord-035342-sf0zld5z 358 9 informational informational JJ cord-035342-sf0zld5z 358 10 aspects aspect NNS cord-035342-sf0zld5z 358 11 as as IN cord-035342-sf0zld5z 358 12 one one CD cord-035342-sf0zld5z 358 13 possible possible JJ cord-035342-sf0zld5z 358 14 reason reason NN cord-035342-sf0zld5z 358 15 for for IN cord-035342-sf0zld5z 358 16 the the DT cord-035342-sf0zld5z 358 17 shown show VBN cord-035342-sf0zld5z 358 18 investor investor NN cord-035342-sf0zld5z 358 19 - - HYPH cord-035342-sf0zld5z 358 20 specific specific JJ cord-035342-sf0zld5z 358 21 behaviour behaviour NN cord-035342-sf0zld5z 358 22 : : : cord-035342-sf0zld5z 358 23 " " `` cord-035342-sf0zld5z 358 24 They -PRON- PRP cord-035342-sf0zld5z 358 25 [ [ -LRB- cord-035342-sf0zld5z 358 26 investors investor NNS cord-035342-sf0zld5z 358 27 ] ] -RRB- cord-035342-sf0zld5z 358 28 may may MD cord-035342-sf0zld5z 358 29 impute impute VB cord-035342-sf0zld5z 358 30 extra extra JJ cord-035342-sf0zld5z 358 31 ' ' `` cord-035342-sf0zld5z 358 32 risk risk NN cord-035342-sf0zld5z 358 33 ' ' '' cord-035342-sf0zld5z 358 34 to to IN cord-035342-sf0zld5z 358 35 foreign foreign JJ cord-035342-sf0zld5z 358 36 investments investment NNS cord-035342-sf0zld5z 358 37 because because IN cord-035342-sf0zld5z 358 38 they -PRON- PRP cord-035342-sf0zld5z 358 39 know know VBP cord-035342-sf0zld5z 358 40 less less RBR cord-035342-sf0zld5z 358 41 about about IN cord-035342-sf0zld5z 358 42 foreign foreign JJ cord-035342-sf0zld5z 358 43 markets market NNS cord-035342-sf0zld5z 358 44 , , , cord-035342-sf0zld5z 358 45 institutions institution NNS cord-035342-sf0zld5z 358 46 , , , cord-035342-sf0zld5z 358 47 and and CC cord-035342-sf0zld5z 358 48 firms firm NNS cord-035342-sf0zld5z 358 49 " " `` cord-035342-sf0zld5z 358 50 ( ( -LRB- cord-035342-sf0zld5z 358 51 French French NNP cord-035342-sf0zld5z 358 52 and and CC cord-035342-sf0zld5z 358 53 Poterba Poterba NNP cord-035342-sf0zld5z 358 54 1991 1991 CD cord-035342-sf0zld5z 358 55 , , , cord-035342-sf0zld5z 358 56 p. p. NN cord-035342-sf0zld5z 358 57 223 223 CD cord-035342-sf0zld5z 358 58 ) ) -RRB- cord-035342-sf0zld5z 358 59 . . . cord-035342-sf0zld5z 359 1 Different different JJ cord-035342-sf0zld5z 359 2 information information NN cord-035342-sf0zld5z 359 3 results result NNS cord-035342-sf0zld5z 359 4 in in IN cord-035342-sf0zld5z 359 5 different different JJ cord-035342-sf0zld5z 359 6 expected expect VBN cord-035342-sf0zld5z 359 7 risk risk NN cord-035342-sf0zld5z 359 8 - - HYPH cord-035342-sf0zld5z 359 9 return return NN cord-035342-sf0zld5z 359 10 patterns pattern NNS cord-035342-sf0zld5z 359 11 , , , cord-035342-sf0zld5z 359 12 hence hence RB cord-035342-sf0zld5z 359 13 inducing induce VBG cord-035342-sf0zld5z 359 14 home home NN cord-035342-sf0zld5z 359 15 bias bias NN cord-035342-sf0zld5z 359 16 if if IN cord-035342-sf0zld5z 359 17 the the DT cord-035342-sf0zld5z 359 18 perceived perceive VBN cord-035342-sf0zld5z 359 19 information information NN cord-035342-sf0zld5z 359 20 advantage advantage NN cord-035342-sf0zld5z 359 21 is be VBZ cord-035342-sf0zld5z 359 22 towards towards IN cord-035342-sf0zld5z 359 23 domestic domestic JJ cord-035342-sf0zld5z 359 24 assets asset NNS cord-035342-sf0zld5z 359 25 . . . cord-035342-sf0zld5z 360 1 Information information NN cord-035342-sf0zld5z 360 2 asymmetries asymmetry NNS cord-035342-sf0zld5z 360 3 are be VBP cord-035342-sf0zld5z 360 4 a a DT cord-035342-sf0zld5z 360 5 reason reason NN cord-035342-sf0zld5z 360 6 for for IN cord-035342-sf0zld5z 360 7 both both CC cord-035342-sf0zld5z 360 8 intra intra JJ cord-035342-sf0zld5z 360 9 - - JJ cord-035342-sf0zld5z 360 10 national national JJ cord-035342-sf0zld5z 360 11 local local JJ cord-035342-sf0zld5z 360 12 bias bias NN cord-035342-sf0zld5z 360 13 and and CC cord-035342-sf0zld5z 360 14 international international JJ cord-035342-sf0zld5z 360 15 home home NN cord-035342-sf0zld5z 360 16 bias bias NN cord-035342-sf0zld5z 360 17 . . . cord-035342-sf0zld5z 361 1 Shukla Shukla NNP cord-035342-sf0zld5z 361 2 and and CC cord-035342-sf0zld5z 361 3 van van NNP cord-035342-sf0zld5z 361 4 Inwegen Inwegen NNP cord-035342-sf0zld5z 361 5 ( ( -LRB- cord-035342-sf0zld5z 361 6 1995 1995 CD cord-035342-sf0zld5z 361 7 ) ) -RRB- cord-035342-sf0zld5z 361 8 provide provide VB cord-035342-sf0zld5z 361 9 the the DT cord-035342-sf0zld5z 361 10 first first JJ cord-035342-sf0zld5z 361 11 study study NN cord-035342-sf0zld5z 361 12 on on IN cord-035342-sf0zld5z 361 13 informational informational JJ cord-035342-sf0zld5z 361 14 advantages advantage NNS cord-035342-sf0zld5z 361 15 as as IN cord-035342-sf0zld5z 361 16 a a DT cord-035342-sf0zld5z 361 17 reason reason NN cord-035342-sf0zld5z 361 18 for for IN cord-035342-sf0zld5z 361 19 home home NN cord-035342-sf0zld5z 361 20 bias bias NN cord-035342-sf0zld5z 361 21 and and CC cord-035342-sf0zld5z 361 22 show show VBP cord-035342-sf0zld5z 361 23 that that IN cord-035342-sf0zld5z 361 24 domestic domestic JJ cord-035342-sf0zld5z 361 25 investors investor NNS cord-035342-sf0zld5z 361 26 ( ( -LRB- cord-035342-sf0zld5z 361 27 U.S. U.S. NNP cord-035342-sf0zld5z 361 28 investors investor NNS cord-035342-sf0zld5z 361 29 ) ) -RRB- cord-035342-sf0zld5z 361 30 have have VBP cord-035342-sf0zld5z 361 31 an an DT cord-035342-sf0zld5z 361 32 information information NN cord-035342-sf0zld5z 361 33 advantage advantage NN cord-035342-sf0zld5z 361 34 compared compare VBN cord-035342-sf0zld5z 361 35 to to IN cord-035342-sf0zld5z 361 36 foreign foreign JJ cord-035342-sf0zld5z 361 37 investors investor NNS cord-035342-sf0zld5z 361 38 ( ( -LRB- cord-035342-sf0zld5z 361 39 UK UK NNP cord-035342-sf0zld5z 361 40 investors investor NNS cord-035342-sf0zld5z 361 41 ) ) -RRB- cord-035342-sf0zld5z 361 42 . . . cord-035342-sf0zld5z 362 1 The the DT cord-035342-sf0zld5z 362 2 prevalent prevalent JJ cord-035342-sf0zld5z 362 3 asymmetry asymmetry NN cord-035342-sf0zld5z 362 4 in in IN cord-035342-sf0zld5z 362 5 information information NN cord-035342-sf0zld5z 362 6 induces induce VBZ cord-035342-sf0zld5z 362 7 a a DT cord-035342-sf0zld5z 362 8 home home NN cord-035342-sf0zld5z 362 9 bias bias NN cord-035342-sf0zld5z 362 10 of of IN cord-035342-sf0zld5z 362 11 the the DT cord-035342-sf0zld5z 362 12 UK UK NNP cord-035342-sf0zld5z 362 13 investors investor NNS cord-035342-sf0zld5z 362 14 , , , cord-035342-sf0zld5z 362 15 because because IN cord-035342-sf0zld5z 362 16 they -PRON- PRP cord-035342-sf0zld5z 362 17 underweight underweight VBD cord-035342-sf0zld5z 362 18 the the DT cord-035342-sf0zld5z 362 19 foreign foreign JJ cord-035342-sf0zld5z 362 20 U.S. U.S. NNP cord-035342-sf0zld5z 362 21 market market NN cord-035342-sf0zld5z 362 22 . . . cord-035342-sf0zld5z 363 1 The the DT cord-035342-sf0zld5z 363 2 behaviour behaviour NN cord-035342-sf0zld5z 363 3 of of IN cord-035342-sf0zld5z 363 4 underrating underrate VBG cord-035342-sf0zld5z 363 5 the the DT cord-035342-sf0zld5z 363 6 U.S. U.S. NNP cord-035342-sf0zld5z 363 7 market market NN cord-035342-sf0zld5z 363 8 seems seem VBZ cord-035342-sf0zld5z 363 9 rational rational JJ cord-035342-sf0zld5z 363 10 due due IN cord-035342-sf0zld5z 363 11 to to IN cord-035342-sf0zld5z 363 12 the the DT cord-035342-sf0zld5z 363 13 poor poor JJ cord-035342-sf0zld5z 363 14 performance performance NN cord-035342-sf0zld5z 363 15 of of IN cord-035342-sf0zld5z 363 16 foreign foreign JJ cord-035342-sf0zld5z 363 17 UK UK NNP cord-035342-sf0zld5z 363 18 investors investor NNS cord-035342-sf0zld5z 363 19 which which WDT cord-035342-sf0zld5z 363 20 discourages discourage VBZ cord-035342-sf0zld5z 363 21 them -PRON- PRP cord-035342-sf0zld5z 363 22 from from IN cord-035342-sf0zld5z 363 23 investing invest VBG cord-035342-sf0zld5z 363 24 abroad abroad RB cord-035342-sf0zld5z 363 25 . . . cord-035342-sf0zld5z 364 1 Both both DT cord-035342-sf0zld5z 364 2 Zhou Zhou NNP cord-035342-sf0zld5z 364 3 ( ( -LRB- cord-035342-sf0zld5z 364 4 1998 1998 CD cord-035342-sf0zld5z 364 5 ) ) -RRB- cord-035342-sf0zld5z 364 6 and and CC cord-035342-sf0zld5z 364 7 Michaelides Michaelides NNP cord-035342-sf0zld5z 364 8 ( ( -LRB- cord-035342-sf0zld5z 364 9 2003 2003 CD cord-035342-sf0zld5z 364 10 ) ) -RRB- cord-035342-sf0zld5z 364 11 in in IN cord-035342-sf0zld5z 364 12 a a DT cord-035342-sf0zld5z 364 13 model model NN cord-035342-sf0zld5z 364 14 and and CC cord-035342-sf0zld5z 364 15 Coval Coval NNP cord-035342-sf0zld5z 364 16 and and CC cord-035342-sf0zld5z 364 17 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 364 18 ( ( -LRB- cord-035342-sf0zld5z 364 19 1999 1999 CD cord-035342-sf0zld5z 364 20 ) ) -RRB- cord-035342-sf0zld5z 364 21 confirm confirm VB cord-035342-sf0zld5z 364 22 the the DT cord-035342-sf0zld5z 364 23 existence existence NN cord-035342-sf0zld5z 364 24 of of IN cord-035342-sf0zld5z 364 25 informational informational JJ cord-035342-sf0zld5z 364 26 asymmetries asymmetry NNS cord-035342-sf0zld5z 364 27 as as IN cord-035342-sf0zld5z 364 28 an an DT cord-035342-sf0zld5z 364 29 explanation explanation NN cord-035342-sf0zld5z 364 30 of of IN cord-035342-sf0zld5z 364 31 home home NN cord-035342-sf0zld5z 364 32 bias bias NN cord-035342-sf0zld5z 364 33 for for IN cord-035342-sf0zld5z 364 34 investors investor NNS cord-035342-sf0zld5z 364 35 whereas whereas IN cord-035342-sf0zld5z 364 36 Presbitero Presbitero NNP cord-035342-sf0zld5z 364 37 et et NNP cord-035342-sf0zld5z 364 38 al al NNP cord-035342-sf0zld5z 364 39 . . . cord-035342-sf0zld5z 365 1 ( ( -LRB- cord-035342-sf0zld5z 365 2 2014 2014 CD cord-035342-sf0zld5z 365 3 ) ) -RRB- cord-035342-sf0zld5z 365 4 for for IN cord-035342-sf0zld5z 365 5 banks bank NNS cord-035342-sf0zld5z 365 6 giving give VBG cord-035342-sf0zld5z 365 7 loans loan NNS cord-035342-sf0zld5z 365 8 . . . cord-035342-sf0zld5z 366 1 When when WRB cord-035342-sf0zld5z 366 2 dealing deal VBG cord-035342-sf0zld5z 366 3 with with IN cord-035342-sf0zld5z 366 4 informational informational JJ cord-035342-sf0zld5z 366 5 asymmetries asymmetry NNS cord-035342-sf0zld5z 366 6 and and CC cord-035342-sf0zld5z 366 7 home home NN cord-035342-sf0zld5z 366 8 bias bias NN cord-035342-sf0zld5z 366 9 , , , cord-035342-sf0zld5z 366 10 the the DT cord-035342-sf0zld5z 366 11 question question NN cord-035342-sf0zld5z 366 12 arises arise VBZ cord-035342-sf0zld5z 366 13 why why WRB cord-035342-sf0zld5z 366 14 informational informational JJ cord-035342-sf0zld5z 366 15 advantages advantage NNS cord-035342-sf0zld5z 366 16 in in IN cord-035342-sf0zld5z 366 17 a a DT cord-035342-sf0zld5z 366 18 world world NN cord-035342-sf0zld5z 366 19 with with IN cord-035342-sf0zld5z 366 20 a a DT cord-035342-sf0zld5z 366 21 high high JJ cord-035342-sf0zld5z 366 22 level level NN cord-035342-sf0zld5z 366 23 of of IN cord-035342-sf0zld5z 366 24 information information NN cord-035342-sf0zld5z 366 25 transmission transmission NN cord-035342-sf0zld5z 366 26 ( ( -LRB- cord-035342-sf0zld5z 366 27 especially especially RB cord-035342-sf0zld5z 366 28 by by IN cord-035342-sf0zld5z 366 29 the the DT cord-035342-sf0zld5z 366 30 Internet internet NN cord-035342-sf0zld5z 366 31 ) ) -RRB- cord-035342-sf0zld5z 366 32 still still RB cord-035342-sf0zld5z 366 33 exist exist VBP cord-035342-sf0zld5z 366 34 . . . cord-035342-sf0zld5z 367 1 van van NNP cord-035342-sf0zld5z 367 2 Nieuwerburgh Nieuwerburgh NNP cord-035342-sf0zld5z 367 3 and and CC cord-035342-sf0zld5z 367 4 Veldkamp Veldkamp NNP cord-035342-sf0zld5z 367 5 ( ( -LRB- cord-035342-sf0zld5z 367 6 2009 2009 CD cord-035342-sf0zld5z 367 7 , , , cord-035342-sf0zld5z 367 8 2010 2010 CD cord-035342-sf0zld5z 367 9 ) ) -RRB- cord-035342-sf0zld5z 367 10 show show VBP cord-035342-sf0zld5z 367 11 that that IN cord-035342-sf0zld5z 367 12 the the DT cord-035342-sf0zld5z 367 13 advantages advantage NNS cord-035342-sf0zld5z 367 14 are be VBP cord-035342-sf0zld5z 367 15 based base VBN cord-035342-sf0zld5z 367 16 on on IN cord-035342-sf0zld5z 367 17 fundamental fundamental JJ cord-035342-sf0zld5z 367 18 and and CC cord-035342-sf0zld5z 367 19 natural natural JJ cord-035342-sf0zld5z 367 20 human human JJ cord-035342-sf0zld5z 367 21 behaviour behaviour NN cord-035342-sf0zld5z 367 22 : : : cord-035342-sf0zld5z 367 23 Information information NN cord-035342-sf0zld5z 367 24 is be VBZ cord-035342-sf0zld5z 367 25 rated rate VBN cord-035342-sf0zld5z 367 26 differently differently RB cord-035342-sf0zld5z 367 27 depending depend VBG cord-035342-sf0zld5z 367 28 on on IN cord-035342-sf0zld5z 367 29 the the DT cord-035342-sf0zld5z 367 30 exclusiveness exclusiveness NN cord-035342-sf0zld5z 367 31 . . . cord-035342-sf0zld5z 368 1 Exclusive exclusive JJ cord-035342-sf0zld5z 368 2 information information NN cord-035342-sf0zld5z 368 3 is be VBZ cord-035342-sf0zld5z 368 4 worth worth JJ cord-035342-sf0zld5z 368 5 more more JJR cord-035342-sf0zld5z 368 6 . . . cord-035342-sf0zld5z 369 1 These these DT cord-035342-sf0zld5z 369 2 findings finding NNS cord-035342-sf0zld5z 369 3 of of IN cord-035342-sf0zld5z 369 4 investors investor NNS cord-035342-sf0zld5z 369 5 ' ' POS cord-035342-sf0zld5z 369 6 behaviour behaviour NN cord-035342-sf0zld5z 369 7 can can MD cord-035342-sf0zld5z 369 8 explain explain VB cord-035342-sf0zld5z 369 9 both both CC cord-035342-sf0zld5z 369 10 local local JJ cord-035342-sf0zld5z 369 11 and and CC cord-035342-sf0zld5z 369 12 home home NN cord-035342-sf0zld5z 369 13 bias bias NN cord-035342-sf0zld5z 369 14 , , , cord-035342-sf0zld5z 369 15 national national JJ cord-035342-sf0zld5z 369 16 borders border NNS cord-035342-sf0zld5z 369 17 are be VBP cord-035342-sf0zld5z 369 18 not not RB cord-035342-sf0zld5z 369 19 taken take VBN cord-035342-sf0zld5z 369 20 into into IN cord-035342-sf0zld5z 369 21 account account NN cord-035342-sf0zld5z 369 22 . . . cord-035342-sf0zld5z 370 1 So so RB cord-035342-sf0zld5z 370 2 , , , cord-035342-sf0zld5z 370 3 when when WRB cord-035342-sf0zld5z 370 4 taking take VBG cord-035342-sf0zld5z 370 5 information information NN cord-035342-sf0zld5z 370 6 - - HYPH cord-035342-sf0zld5z 370 7 based base VBN cord-035342-sf0zld5z 370 8 explanations explanation NNS cord-035342-sf0zld5z 370 9 of of IN cord-035342-sf0zld5z 370 10 home home NN cord-035342-sf0zld5z 370 11 bias bias NN cord-035342-sf0zld5z 370 12 it -PRON- PRP cord-035342-sf0zld5z 370 13 is be VBZ cord-035342-sf0zld5z 370 14 not not RB cord-035342-sf0zld5z 370 15 just just RB cord-035342-sf0zld5z 370 16 about about IN cord-035342-sf0zld5z 370 17 the the DT cord-035342-sf0zld5z 370 18 existing exist VBG cord-035342-sf0zld5z 370 19 advantage advantage NN cord-035342-sf0zld5z 370 20 , , , cord-035342-sf0zld5z 370 21 it -PRON- PRP cord-035342-sf0zld5z 370 22 is be VBZ cord-035342-sf0zld5z 370 23 also also RB cord-035342-sf0zld5z 370 24 about about IN cord-035342-sf0zld5z 370 25 the the DT cord-035342-sf0zld5z 370 26 learning learning NN cord-035342-sf0zld5z 370 27 process process NN cord-035342-sf0zld5z 370 28 of of IN cord-035342-sf0zld5z 370 29 obtaining obtain VBG cord-035342-sf0zld5z 370 30 information information NN cord-035342-sf0zld5z 370 31 . . . cord-035342-sf0zld5z 371 1 This this DT cord-035342-sf0zld5z 371 2 result result NN cord-035342-sf0zld5z 371 3 is be VBZ cord-035342-sf0zld5z 371 4 closely closely RB cord-035342-sf0zld5z 371 5 related related JJ cord-035342-sf0zld5z 371 6 to to IN cord-035342-sf0zld5z 371 7 Choi Choi NNP cord-035342-sf0zld5z 371 8 et et FW cord-035342-sf0zld5z 371 9 al al NNP cord-035342-sf0zld5z 371 10 . . . cord-035342-sf0zld5z 372 1 ( ( -LRB- cord-035342-sf0zld5z 372 2 2017 2017 CD cord-035342-sf0zld5z 372 3 ) ) -RRB- cord-035342-sf0zld5z 372 4 who who WP cord-035342-sf0zld5z 372 5 conclude conclude VBP cord-035342-sf0zld5z 372 6 that that IN cord-035342-sf0zld5z 372 7 the the DT cord-035342-sf0zld5z 372 8 higher high JJR cord-035342-sf0zld5z 372 9 the the DT cord-035342-sf0zld5z 372 10 learning learning NN cord-035342-sf0zld5z 372 11 capacity capacity NN cord-035342-sf0zld5z 372 12 of of IN cord-035342-sf0zld5z 372 13 an an DT cord-035342-sf0zld5z 372 14 investor investor NN cord-035342-sf0zld5z 372 15 , , , cord-035342-sf0zld5z 372 16 the the DT cord-035342-sf0zld5z 372 17 more more RBR cord-035342-sf0zld5z 372 18 concentrated concentrated JJ cord-035342-sf0zld5z 372 19 the the DT cord-035342-sf0zld5z 372 20 portfolio portfolio NN cord-035342-sf0zld5z 372 21 is be VBZ cord-035342-sf0zld5z 372 22 . . . cord-035342-sf0zld5z 373 1 Since since IN cord-035342-sf0zld5z 373 2 home home NN cord-035342-sf0zld5z 373 3 bias bias NN cord-035342-sf0zld5z 373 4 is be VBZ cord-035342-sf0zld5z 373 5 a a DT cord-035342-sf0zld5z 373 6 type type NN cord-035342-sf0zld5z 373 7 of of IN cord-035342-sf0zld5z 373 8 portfolio portfolio NN cord-035342-sf0zld5z 373 9 concentration concentration NN cord-035342-sf0zld5z 373 10 , , , cord-035342-sf0zld5z 373 11 this this DT cord-035342-sf0zld5z 373 12 finding finding NN cord-035342-sf0zld5z 373 13 means mean VBZ cord-035342-sf0zld5z 373 14 that that IN cord-035342-sf0zld5z 373 15 an an DT cord-035342-sf0zld5z 373 16 investor investor NN cord-035342-sf0zld5z 373 17 is be VBZ cord-035342-sf0zld5z 373 18 inclined incline VBN cord-035342-sf0zld5z 373 19 to to TO cord-035342-sf0zld5z 373 20 learn learn VB cord-035342-sf0zld5z 373 21 more more JJR cord-035342-sf0zld5z 373 22 and and CC cord-035342-sf0zld5z 373 23 more more JJR cord-035342-sf0zld5z 373 24 about about IN cord-035342-sf0zld5z 373 25 the the DT cord-035342-sf0zld5z 373 26 assets asset NNS cord-035342-sf0zld5z 373 27 he -PRON- PRP cord-035342-sf0zld5z 373 28 already already RB cord-035342-sf0zld5z 373 29 knows know VBZ cord-035342-sf0zld5z 373 30 in in IN cord-035342-sf0zld5z 373 31 order order NN cord-035342-sf0zld5z 373 32 to to TO cord-035342-sf0zld5z 373 33 obtain obtain VB cord-035342-sf0zld5z 373 34 specific specific JJ cord-035342-sf0zld5z 373 35 information information NN cord-035342-sf0zld5z 373 36 . . . cord-035342-sf0zld5z 374 1 The the DT cord-035342-sf0zld5z 374 2 higher high JJR cord-035342-sf0zld5z 374 3 the the DT cord-035342-sf0zld5z 374 4 learning learning NN cord-035342-sf0zld5z 374 5 capacity capacity NN cord-035342-sf0zld5z 374 6 the the DT cord-035342-sf0zld5z 374 7 better well JJR cord-035342-sf0zld5z 374 8 the the DT cord-035342-sf0zld5z 374 9 behaviour behaviour NN cord-035342-sf0zld5z 374 10 works work VBZ cord-035342-sf0zld5z 374 11 out out RP cord-035342-sf0zld5z 374 12 . . . cord-035342-sf0zld5z 375 1 The the DT cord-035342-sf0zld5z 375 2 model model NN cord-035342-sf0zld5z 375 3 by by IN cord-035342-sf0zld5z 375 4 Dziuda Dziuda NNP cord-035342-sf0zld5z 375 5 and and CC cord-035342-sf0zld5z 375 6 Mondria Mondria NNP cord-035342-sf0zld5z 375 7 ( ( -LRB- cord-035342-sf0zld5z 375 8 2012 2012 CD cord-035342-sf0zld5z 375 9 ) ) -RRB- cord-035342-sf0zld5z 375 10 supports support VBZ cord-035342-sf0zld5z 375 11 the the DT cord-035342-sf0zld5z 375 12 information information NN cord-035342-sf0zld5z 375 13 - - HYPH cord-035342-sf0zld5z 375 14 based base VBN cord-035342-sf0zld5z 375 15 explanation explanation NN cord-035342-sf0zld5z 375 16 of of IN cord-035342-sf0zld5z 375 17 home home NN cord-035342-sf0zld5z 375 18 bias bias NN cord-035342-sf0zld5z 375 19 . . . cord-035342-sf0zld5z 376 1 But but CC cord-035342-sf0zld5z 376 2 in in IN cord-035342-sf0zld5z 376 3 their -PRON- PRP$ cord-035342-sf0zld5z 376 4 model model NN cord-035342-sf0zld5z 376 5 , , , cord-035342-sf0zld5z 376 6 they -PRON- PRP cord-035342-sf0zld5z 376 7 attribute attribute VBP cord-035342-sf0zld5z 376 8 the the DT cord-035342-sf0zld5z 376 9 informational informational JJ cord-035342-sf0zld5z 376 10 advantage advantage NN cord-035342-sf0zld5z 376 11 to to IN cord-035342-sf0zld5z 376 12 the the DT cord-035342-sf0zld5z 376 13 clients client NNS cord-035342-sf0zld5z 376 14 of of IN cord-035342-sf0zld5z 376 15 professional professional JJ cord-035342-sf0zld5z 376 16 investors investor NNS cord-035342-sf0zld5z 376 17 ( ( -LRB- cord-035342-sf0zld5z 376 18 managers manager NNS cord-035342-sf0zld5z 376 19 ) ) -RRB- cord-035342-sf0zld5z 376 20 . . . cord-035342-sf0zld5z 377 1 The the DT cord-035342-sf0zld5z 377 2 managers manager NNS cord-035342-sf0zld5z 377 3 ' ' POS cord-035342-sf0zld5z 377 4 reply reply NN cord-035342-sf0zld5z 377 5 leads lead VBZ cord-035342-sf0zld5z 377 6 to to IN cord-035342-sf0zld5z 377 7 a a DT cord-035342-sf0zld5z 377 8 reinforcement reinforcement NN cord-035342-sf0zld5z 377 9 cycle cycle NN cord-035342-sf0zld5z 377 10 . . . cord-035342-sf0zld5z 378 1 Thus thus RB cord-035342-sf0zld5z 378 2 , , , cord-035342-sf0zld5z 378 3 they -PRON- PRP cord-035342-sf0zld5z 378 4 prove prove VBP cord-035342-sf0zld5z 378 5 information information NN cord-035342-sf0zld5z 378 6 to to TO cord-035342-sf0zld5z 378 7 be be VB cord-035342-sf0zld5z 378 8 the the DT cord-035342-sf0zld5z 378 9 reason reason NN cord-035342-sf0zld5z 378 10 for for IN cord-035342-sf0zld5z 378 11 home home NN cord-035342-sf0zld5z 378 12 bias bias NN cord-035342-sf0zld5z 378 13 , , , cord-035342-sf0zld5z 378 14 however however RB cord-035342-sf0zld5z 378 15 challenge challenge VBP cord-035342-sf0zld5z 378 16 the the DT cord-035342-sf0zld5z 378 17 source source NN cord-035342-sf0zld5z 378 18 of of IN cord-035342-sf0zld5z 378 19 the the DT cord-035342-sf0zld5z 378 20 information information NN cord-035342-sf0zld5z 378 21 asymmetry asymmetry NN cord-035342-sf0zld5z 378 22 and and CC cord-035342-sf0zld5z 378 23 advantage advantage NN cord-035342-sf0zld5z 378 24 as as IN cord-035342-sf0zld5z 378 25 determined determine VBN cord-035342-sf0zld5z 378 26 in in IN cord-035342-sf0zld5z 378 27 Coval Coval NNP cord-035342-sf0zld5z 378 28 and and CC cord-035342-sf0zld5z 378 29 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 378 30 ( ( -LRB- cord-035342-sf0zld5z 378 31 2001 2001 CD cord-035342-sf0zld5z 378 32 ) ) -RRB- cord-035342-sf0zld5z 378 33 . . . cord-035342-sf0zld5z 379 1 These these DT cord-035342-sf0zld5z 379 2 differences difference NNS cord-035342-sf0zld5z 379 3 can can MD cord-035342-sf0zld5z 379 4 be be VB cord-035342-sf0zld5z 379 5 due due JJ cord-035342-sf0zld5z 379 6 to to IN cord-035342-sf0zld5z 379 7 studying study VBG cord-035342-sf0zld5z 379 8 intra intra JJ cord-035342-sf0zld5z 379 9 - - JJ cord-035342-sf0zld5z 379 10 national national JJ cord-035342-sf0zld5z 379 11 investment investment NN cord-035342-sf0zld5z 379 12 and and CC cord-035342-sf0zld5z 379 13 local local JJ cord-035342-sf0zld5z 379 14 bias bias NN cord-035342-sf0zld5z 379 15 ( ( -LRB- cord-035342-sf0zld5z 379 16 Coval Coval NNP cord-035342-sf0zld5z 379 17 and and CC cord-035342-sf0zld5z 379 18 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 379 19 2001 2001 CD cord-035342-sf0zld5z 379 20 ) ) -RRB- cord-035342-sf0zld5z 379 21 , , , cord-035342-sf0zld5z 379 22 whereas whereas IN cord-035342-sf0zld5z 379 23 Dziuda Dziuda NNP cord-035342-sf0zld5z 379 24 and and CC cord-035342-sf0zld5z 379 25 Mondria Mondria NNP cord-035342-sf0zld5z 379 26 ( ( -LRB- cord-035342-sf0zld5z 379 27 2012 2012 CD cord-035342-sf0zld5z 379 28 ) ) -RRB- cord-035342-sf0zld5z 379 29 exemplify exemplify VB cord-035342-sf0zld5z 379 30 international international JJ cord-035342-sf0zld5z 379 31 portfolio portfolio NN cord-035342-sf0zld5z 379 32 choice choice NN cord-035342-sf0zld5z 379 33 and and CC cord-035342-sf0zld5z 379 34 home home NN cord-035342-sf0zld5z 379 35 bias bias NN cord-035342-sf0zld5z 379 36 . . . cord-035342-sf0zld5z 380 1 The the DT cord-035342-sf0zld5z 380 2 results result NNS cord-035342-sf0zld5z 380 3 of of IN cord-035342-sf0zld5z 380 4 a a DT cord-035342-sf0zld5z 380 5 survey survey NN cord-035342-sf0zld5z 380 6 ( ( -LRB- cord-035342-sf0zld5z 380 7 run run VBN cord-035342-sf0zld5z 380 8 in in IN cord-035342-sf0zld5z 380 9 2003 2003 CD cord-035342-sf0zld5z 380 10 ) ) -RRB- cord-035342-sf0zld5z 380 11 about about IN cord-035342-sf0zld5z 380 12 German german JJ cord-035342-sf0zld5z 380 13 fund fund NN cord-035342-sf0zld5z 380 14 managers manager NNS cord-035342-sf0zld5z 380 15 analysed analyse VBN cord-035342-sf0zld5z 380 16 by by IN cord-035342-sf0zld5z 380 17 Lütje Lütje NNP cord-035342-sf0zld5z 380 18 and and CC cord-035342-sf0zld5z 380 19 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 380 20 ( ( -LRB- cord-035342-sf0zld5z 380 21 2007 2007 CD cord-035342-sf0zld5z 380 22 ) ) -RRB- cord-035342-sf0zld5z 380 23 are be VBP cord-035342-sf0zld5z 380 24 rather rather RB cord-035342-sf0zld5z 380 25 in in IN cord-035342-sf0zld5z 380 26 accordance accordance NN cord-035342-sf0zld5z 380 27 with with IN cord-035342-sf0zld5z 380 28 Coval Coval NNP cord-035342-sf0zld5z 380 29 and and CC cord-035342-sf0zld5z 380 30 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 380 31 ( ( -LRB- cord-035342-sf0zld5z 380 32 2001 2001 CD cord-035342-sf0zld5z 380 33 ) ) -RRB- cord-035342-sf0zld5z 380 34 that that IN cord-035342-sf0zld5z 380 35 the the DT cord-035342-sf0zld5z 380 36 existence existence NN cord-035342-sf0zld5z 380 37 of of IN cord-035342-sf0zld5z 380 38 home home NN cord-035342-sf0zld5z 380 39 bias bias NN cord-035342-sf0zld5z 380 40 is be VBZ cord-035342-sf0zld5z 380 41 unrelated unrelated JJ cord-035342-sf0zld5z 380 42 to to IN cord-035342-sf0zld5z 380 43 clients client NNS cord-035342-sf0zld5z 380 44 ' ' POS cord-035342-sf0zld5z 380 45 preferences preference NNS cord-035342-sf0zld5z 380 46 . . . cord-035342-sf0zld5z 381 1 The the DT cord-035342-sf0zld5z 381 2 fund fund NN cord-035342-sf0zld5z 381 3 managers manager NNS cord-035342-sf0zld5z 381 4 themselves -PRON- PRP cord-035342-sf0zld5z 381 5 perceive perceive VBP cord-035342-sf0zld5z 381 6 a a DT cord-035342-sf0zld5z 381 7 local local JJ cord-035342-sf0zld5z 381 8 information information NN cord-035342-sf0zld5z 381 9 advantage advantage NN cord-035342-sf0zld5z 381 10 , , , cord-035342-sf0zld5z 381 11 expect expect VBP cord-035342-sf0zld5z 381 12 higher high JJR cord-035342-sf0zld5z 381 13 returns return NNS cord-035342-sf0zld5z 381 14 of of IN cord-035342-sf0zld5z 381 15 domestic domestic JJ cord-035342-sf0zld5z 381 16 investments investment NNS cord-035342-sf0zld5z 381 17 and and CC cord-035342-sf0zld5z 381 18 therefore therefore RB cord-035342-sf0zld5z 381 19 their -PRON- PRP$ cord-035342-sf0zld5z 381 20 investments investment NNS cord-035342-sf0zld5z 381 21 are be VBP cord-035342-sf0zld5z 381 22 home home NN cord-035342-sf0zld5z 381 23 - - HYPH cord-035342-sf0zld5z 381 24 biased biased JJ cord-035342-sf0zld5z 381 25 . . . cord-035342-sf0zld5z 382 1 This this DT cord-035342-sf0zld5z 382 2 perceived perceive VBN cord-035342-sf0zld5z 382 3 information information NN cord-035342-sf0zld5z 382 4 advantage advantage NN cord-035342-sf0zld5z 382 5 does do VBZ cord-035342-sf0zld5z 382 6 not not RB cord-035342-sf0zld5z 382 7 exactly exactly RB cord-035342-sf0zld5z 382 8 hold hold VB cord-035342-sf0zld5z 382 9 to to TO cord-035342-sf0zld5z 382 10 be be VB cord-035342-sf0zld5z 382 11 true true JJ cord-035342-sf0zld5z 382 12 . . . cord-035342-sf0zld5z 383 1 Lütje Lütje NNP cord-035342-sf0zld5z 383 2 and and CC cord-035342-sf0zld5z 383 3 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 383 4 ( ( -LRB- cord-035342-sf0zld5z 383 5 2007 2007 CD cord-035342-sf0zld5z 383 6 ) ) -RRB- cord-035342-sf0zld5z 383 7 conclude conclude VBP cord-035342-sf0zld5z 383 8 that that IN cord-035342-sf0zld5z 383 9 pure pure JJ cord-035342-sf0zld5z 383 10 informational informational JJ cord-035342-sf0zld5z 383 11 explanations explanation NNS cord-035342-sf0zld5z 383 12 of of IN cord-035342-sf0zld5z 383 13 home home NN cord-035342-sf0zld5z 383 14 bias bias NN cord-035342-sf0zld5z 383 15 should should MD cord-035342-sf0zld5z 383 16 be be VB cord-035342-sf0zld5z 383 17 challenged challenge VBN cord-035342-sf0zld5z 383 18 . . . cord-035342-sf0zld5z 384 1 Hong Hong NNP cord-035342-sf0zld5z 384 2 et et NNP cord-035342-sf0zld5z 384 3 al al NNP cord-035342-sf0zld5z 384 4 . . . cord-035342-sf0zld5z 385 1 ( ( -LRB- cord-035342-sf0zld5z 385 2 2005 2005 CD cord-035342-sf0zld5z 385 3 ) ) -RRB- cord-035342-sf0zld5z 385 4 , , , cord-035342-sf0zld5z 385 5 in in IN cord-035342-sf0zld5z 385 6 contrast contrast NN cord-035342-sf0zld5z 385 7 to to IN cord-035342-sf0zld5z 385 8 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 385 9 ( ( -LRB- cord-035342-sf0zld5z 385 10 1999 1999 CD cord-035342-sf0zld5z 385 11 , , , cord-035342-sf0zld5z 385 12 2001 2001 CD cord-035342-sf0zld5z 385 13 ) ) -RRB- cord-035342-sf0zld5z 385 14 who who WP cord-035342-sf0zld5z 385 15 study study VBP cord-035342-sf0zld5z 385 16 how how WRB cord-035342-sf0zld5z 385 17 investors investor NNS cord-035342-sf0zld5z 385 18 gather gather VBP cord-035342-sf0zld5z 385 19 information information NN cord-035342-sf0zld5z 385 20 , , , cord-035342-sf0zld5z 385 21 examine examine VB cord-035342-sf0zld5z 385 22 how how WRB cord-035342-sf0zld5z 385 23 investors investor NNS cord-035342-sf0zld5z 385 24 share share VBP cord-035342-sf0zld5z 385 25 information information NN cord-035342-sf0zld5z 385 26 . . . cord-035342-sf0zld5z 386 1 Investments investment NNS cord-035342-sf0zld5z 386 2 in in IN cord-035342-sf0zld5z 386 3 one one CD cord-035342-sf0zld5z 386 4 city city NN cord-035342-sf0zld5z 386 5 correlate correlate VBP cord-035342-sf0zld5z 386 6 , , , cord-035342-sf0zld5z 386 7 i. i. NNP cord-035342-sf0zld5z 386 8 a. a. NN cord-035342-sf0zld5z 387 1 by by IN cord-035342-sf0zld5z 387 2 word word NN cord-035342-sf0zld5z 387 3 - - HYPH cord-035342-sf0zld5z 387 4 of of IN cord-035342-sf0zld5z 387 5 - - HYPH cord-035342-sf0zld5z 387 6 mouth mouth NN cord-035342-sf0zld5z 387 7 information information NN cord-035342-sf0zld5z 387 8 transmission transmission NN cord-035342-sf0zld5z 387 9 between between IN cord-035342-sf0zld5z 387 10 investors investor NNS cord-035342-sf0zld5z 387 11 . . . cord-035342-sf0zld5z 388 1 The the DT cord-035342-sf0zld5z 388 2 finding finding NN cord-035342-sf0zld5z 388 3 constitutes constitute VBZ cord-035342-sf0zld5z 388 4 a a DT cord-035342-sf0zld5z 388 5 reinforcement reinforcement NN cord-035342-sf0zld5z 388 6 process process NN cord-035342-sf0zld5z 388 7 of of IN cord-035342-sf0zld5z 388 8 any any DT cord-035342-sf0zld5z 388 9 local local JJ cord-035342-sf0zld5z 388 10 bias bias NN cord-035342-sf0zld5z 388 11 or or CC cord-035342-sf0zld5z 388 12 home home NN cord-035342-sf0zld5z 388 13 bias bias NN cord-035342-sf0zld5z 388 14 , , , cord-035342-sf0zld5z 388 15 because because IN cord-035342-sf0zld5z 388 16 one one CD cord-035342-sf0zld5z 388 17 investor investor NN cord-035342-sf0zld5z 388 18 who who WP cord-035342-sf0zld5z 388 19 is be VBZ cord-035342-sf0zld5z 388 20 slightly slightly RB cord-035342-sf0zld5z 388 21 biased biased JJ cord-035342-sf0zld5z 388 22 transmits transmit VBZ cord-035342-sf0zld5z 388 23 this this DT cord-035342-sf0zld5z 388 24 bias bias NN cord-035342-sf0zld5z 388 25 to to IN cord-035342-sf0zld5z 388 26 other other JJ cord-035342-sf0zld5z 388 27 local local JJ cord-035342-sf0zld5z 388 28 investors investor NNS cord-035342-sf0zld5z 388 29 . . . cord-035342-sf0zld5z 389 1 It -PRON- PRP cord-035342-sf0zld5z 389 2 comes come VBZ cord-035342-sf0zld5z 389 3 to to IN cord-035342-sf0zld5z 389 4 a a DT cord-035342-sf0zld5z 389 5 positive positive JJ cord-035342-sf0zld5z 389 6 feedback feedback NN cord-035342-sf0zld5z 389 7 amongst amongst IN cord-035342-sf0zld5z 389 8 investors investor NNS cord-035342-sf0zld5z 389 9 located locate VBN cord-035342-sf0zld5z 389 10 nearby nearby RB cord-035342-sf0zld5z 389 11 . . . cord-035342-sf0zld5z 390 1 Hence hence RB cord-035342-sf0zld5z 390 2 , , , cord-035342-sf0zld5z 390 3 information information NN cord-035342-sf0zld5z 390 4 asymmetries asymmetry NNS cord-035342-sf0zld5z 390 5 play play VBP cord-035342-sf0zld5z 390 6 an an DT cord-035342-sf0zld5z 390 7 important important JJ cord-035342-sf0zld5z 390 8 role role NN cord-035342-sf0zld5z 390 9 in in IN cord-035342-sf0zld5z 390 10 explaining explain VBG cord-035342-sf0zld5z 390 11 home home NN cord-035342-sf0zld5z 390 12 bias bias NN cord-035342-sf0zld5z 391 1 ( ( -LRB- cord-035342-sf0zld5z 391 2 Hong Hong NNP cord-035342-sf0zld5z 391 3 et et NNP cord-035342-sf0zld5z 391 4 al al NNP cord-035342-sf0zld5z 391 5 . . NNP cord-035342-sf0zld5z 391 6 2005 2005 CD cord-035342-sf0zld5z 391 7 ) ) -RRB- cord-035342-sf0zld5z 391 8 . . . cord-035342-sf0zld5z 392 1 Also also RB cord-035342-sf0zld5z 392 2 , , , cord-035342-sf0zld5z 392 3 Hau Hau NNP cord-035342-sf0zld5z 392 4 ( ( -LRB- cord-035342-sf0zld5z 392 5 2001 2001 CD cord-035342-sf0zld5z 392 6 ) ) -RRB- cord-035342-sf0zld5z 392 7 identifies identify VBZ cord-035342-sf0zld5z 392 8 information information NN cord-035342-sf0zld5z 392 9 asymmetries asymmetry NNS cord-035342-sf0zld5z 392 10 to to TO cord-035342-sf0zld5z 392 11 be be VB cord-035342-sf0zld5z 392 12 inducing induce VBG cord-035342-sf0zld5z 392 13 home home NN cord-035342-sf0zld5z 392 14 bias bias NN cord-035342-sf0zld5z 392 15 . . . cord-035342-sf0zld5z 393 1 The the DT cord-035342-sf0zld5z 393 2 discovered discover VBN cord-035342-sf0zld5z 393 3 information information NN cord-035342-sf0zld5z 393 4 asymmetries asymmetry NNS cord-035342-sf0zld5z 393 5 are be VBP cord-035342-sf0zld5z 393 6 caused cause VBN cord-035342-sf0zld5z 393 7 by by IN cord-035342-sf0zld5z 393 8 linguistic linguistic JJ cord-035342-sf0zld5z 393 9 and and CC cord-035342-sf0zld5z 393 10 cultural cultural JJ cord-035342-sf0zld5z 393 11 differences difference NNS cord-035342-sf0zld5z 393 12 between between IN cord-035342-sf0zld5z 393 13 traders trader NNS cord-035342-sf0zld5z 393 14 . . . cord-035342-sf0zld5z 394 1 A a DT cord-035342-sf0zld5z 394 2 pure pure JJ cord-035342-sf0zld5z 394 3 geographic geographic JJ cord-035342-sf0zld5z 394 4 bias bias NN cord-035342-sf0zld5z 394 5 which which WDT cord-035342-sf0zld5z 394 6 is be VBZ cord-035342-sf0zld5z 394 7 just just RB cord-035342-sf0zld5z 394 8 based base VBN cord-035342-sf0zld5z 394 9 on on IN cord-035342-sf0zld5z 394 10 distance distance NN cord-035342-sf0zld5z 394 11 and and CC cord-035342-sf0zld5z 394 12 not not RB cord-035342-sf0zld5z 394 13 informational informational JJ cord-035342-sf0zld5z 394 14 aspects aspect NNS cord-035342-sf0zld5z 394 15 can can MD cord-035342-sf0zld5z 394 16 neither neither CC cord-035342-sf0zld5z 394 17 be be VB cord-035342-sf0zld5z 394 18 confirmed confirm VBN cord-035342-sf0zld5z 394 19 nor nor CC cord-035342-sf0zld5z 394 20 fully fully RB cord-035342-sf0zld5z 394 21 discarded discard VBN cord-035342-sf0zld5z 394 22 . . . cord-035342-sf0zld5z 395 1 The the DT cord-035342-sf0zld5z 395 2 above above RB cord-035342-sf0zld5z 395 3 - - HYPH cord-035342-sf0zld5z 395 4 explained explain VBN cord-035342-sf0zld5z 395 5 standard standard JJ cord-035342-sf0zld5z 395 6 local local JJ cord-035342-sf0zld5z 395 7 information information NN cord-035342-sf0zld5z 395 8 approaches approach NNS cord-035342-sf0zld5z 395 9 claim claim VBP cord-035342-sf0zld5z 395 10 that that IN cord-035342-sf0zld5z 395 11 there there EX cord-035342-sf0zld5z 395 12 is be VBZ cord-035342-sf0zld5z 395 13 only only RB cord-035342-sf0zld5z 395 14 local local JJ cord-035342-sf0zld5z 395 15 / / SYM cord-035342-sf0zld5z 395 16 intra intra JJ cord-035342-sf0zld5z 395 17 - - JJ cord-035342-sf0zld5z 395 18 country country JJ cord-035342-sf0zld5z 395 19 information information NN cord-035342-sf0zld5z 395 20 and and CC cord-035342-sf0zld5z 395 21 better well JJR cord-035342-sf0zld5z 395 22 knowledge knowledge NN cord-035342-sf0zld5z 395 23 . . . cord-035342-sf0zld5z 396 1 Albuquerque Albuquerque NNP cord-035342-sf0zld5z 396 2 et et NNP cord-035342-sf0zld5z 396 3 al al NNP cord-035342-sf0zld5z 396 4 . . . cord-035342-sf0zld5z 397 1 ( ( -LRB- cord-035342-sf0zld5z 397 2 2009 2009 CD cord-035342-sf0zld5z 397 3 ) ) -RRB- cord-035342-sf0zld5z 397 4 introduce introduce VB cord-035342-sf0zld5z 397 5 ' ' `` cord-035342-sf0zld5z 397 6 global global JJ cord-035342-sf0zld5z 397 7 private private JJ cord-035342-sf0zld5z 397 8 information information NN cord-035342-sf0zld5z 397 9 ' ' '' cord-035342-sf0zld5z 397 10 because because IN cord-035342-sf0zld5z 397 11 local local JJ cord-035342-sf0zld5z 397 12 information information NN cord-035342-sf0zld5z 397 13 alone alone RB cord-035342-sf0zld5z 397 14 can can MD cord-035342-sf0zld5z 397 15 not not RB cord-035342-sf0zld5z 397 16 explain explain VB cord-035342-sf0zld5z 397 17 different different JJ cord-035342-sf0zld5z 397 18 performances performance NNS cord-035342-sf0zld5z 397 19 of of IN cord-035342-sf0zld5z 397 20 investments investment NNS cord-035342-sf0zld5z 397 21 with with IN cord-035342-sf0zld5z 397 22 informational informational JJ cord-035342-sf0zld5z 397 23 advantages advantage NNS cord-035342-sf0zld5z 397 24 . . . cord-035342-sf0zld5z 398 1 Local local JJ cord-035342-sf0zld5z 398 2 bias bias NN cord-035342-sf0zld5z 398 3 is be VBZ cord-035342-sf0zld5z 398 4 closely closely RB cord-035342-sf0zld5z 398 5 related relate VBN cord-035342-sf0zld5z 398 6 to to IN cord-035342-sf0zld5z 398 7 distance distance NN cord-035342-sf0zld5z 398 8 effects effect NNS cord-035342-sf0zld5z 398 9 meaning mean VBG cord-035342-sf0zld5z 398 10 geographic geographic JJ cord-035342-sf0zld5z 398 11 proximity proximity NN cord-035342-sf0zld5z 398 12 . . . cord-035342-sf0zld5z 399 1 If if IN cord-035342-sf0zld5z 399 2 an an DT cord-035342-sf0zld5z 399 3 investor investor NN cord-035342-sf0zld5z 399 4 is be VBZ cord-035342-sf0zld5z 399 5 located locate VBN cord-035342-sf0zld5z 399 6 more more RBR cord-035342-sf0zld5z 399 7 proximate proximate JJ cord-035342-sf0zld5z 399 8 to to IN cord-035342-sf0zld5z 399 9 a a DT cord-035342-sf0zld5z 399 10 potential potential JJ cord-035342-sf0zld5z 399 11 investment investment NN cord-035342-sf0zld5z 399 12 opportunity opportunity NN cord-035342-sf0zld5z 399 13 , , , cord-035342-sf0zld5z 399 14 she -PRON- PRP cord-035342-sf0zld5z 399 15 has have VBZ cord-035342-sf0zld5z 399 16 often often RB cord-035342-sf0zld5z 399 17 access access VB cord-035342-sf0zld5z 399 18 to to IN cord-035342-sf0zld5z 399 19 more more JJR cord-035342-sf0zld5z 399 20 and and CC cord-035342-sf0zld5z 399 21 better well JJR cord-035342-sf0zld5z 399 22 information information NN cord-035342-sf0zld5z 399 23 , , , cord-035342-sf0zld5z 399 24 the the DT cord-035342-sf0zld5z 399 25 accessibility accessibility NN cord-035342-sf0zld5z 399 26 of of IN cord-035342-sf0zld5z 399 27 information information NN cord-035342-sf0zld5z 399 28 is be VBZ cord-035342-sf0zld5z 399 29 better well JJR cord-035342-sf0zld5z 399 30 and and CC cord-035342-sf0zld5z 399 31 less less RBR cord-035342-sf0zld5z 399 32 costly costly JJ cord-035342-sf0zld5z 399 33 . . . cord-035342-sf0zld5z 400 1 Three three CD cord-035342-sf0zld5z 400 2 firm firm NN cord-035342-sf0zld5z 400 3 characteristics characteristic NNS cord-035342-sf0zld5z 400 4 ( ( -LRB- cord-035342-sf0zld5z 400 5 based base VBN cord-035342-sf0zld5z 400 6 on on IN cord-035342-sf0zld5z 400 7 U.S. U.S. NNP cord-035342-sf0zld5z 400 8 data datum NNS cord-035342-sf0zld5z 400 9 ) ) -RRB- cord-035342-sf0zld5z 400 10 lead lead NN cord-035342-sf0zld5z 400 11 to to IN cord-035342-sf0zld5z 400 12 an an DT cord-035342-sf0zld5z 400 13 informational informational JJ cord-035342-sf0zld5z 400 14 advantage advantage NN cord-035342-sf0zld5z 400 15 and and CC cord-035342-sf0zld5z 400 16 thus thus RB cord-035342-sf0zld5z 400 17 to to IN cord-035342-sf0zld5z 400 18 local local JJ cord-035342-sf0zld5z 400 19 bias bias NN cord-035342-sf0zld5z 400 20 : : : cord-035342-sf0zld5z 400 21 a a DT cord-035342-sf0zld5z 400 22 small small JJ cord-035342-sf0zld5z 400 23 firm firm JJ cord-035342-sf0zld5z 400 24 size size NN cord-035342-sf0zld5z 400 25 , , , cord-035342-sf0zld5z 400 26 a a DT cord-035342-sf0zld5z 400 27 high high JJ cord-035342-sf0zld5z 400 28 leverage leverage NN cord-035342-sf0zld5z 400 29 and and CC cord-035342-sf0zld5z 400 30 a a DT cord-035342-sf0zld5z 400 31 low low JJ cord-035342-sf0zld5z 400 32 international international JJ cord-035342-sf0zld5z 400 33 output output NN cord-035342-sf0zld5z 400 34 tradability tradability NN cord-035342-sf0zld5z 400 35 ( ( -LRB- cord-035342-sf0zld5z 400 36 Coval Coval NNP cord-035342-sf0zld5z 400 37 and and CC cord-035342-sf0zld5z 400 38 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 400 39 1999 1999 CD cord-035342-sf0zld5z 400 40 ) ) -RRB- cord-035342-sf0zld5z 400 41 . . . cord-035342-sf0zld5z 401 1 If if IN cord-035342-sf0zld5z 401 2 all all DT cord-035342-sf0zld5z 401 3 of of IN cord-035342-sf0zld5z 401 4 these these DT cord-035342-sf0zld5z 401 5 three three CD cord-035342-sf0zld5z 401 6 characteristics characteristic NNS cord-035342-sf0zld5z 401 7 are be VBP cord-035342-sf0zld5z 401 8 given give VBN cord-035342-sf0zld5z 401 9 , , , cord-035342-sf0zld5z 401 10 there there EX cord-035342-sf0zld5z 401 11 is be VBZ cord-035342-sf0zld5z 401 12 the the DT cord-035342-sf0zld5z 401 13 biggest big JJS cord-035342-sf0zld5z 401 14 informational informational JJ cord-035342-sf0zld5z 401 15 advantage advantage NN cord-035342-sf0zld5z 401 16 for for IN cord-035342-sf0zld5z 401 17 local local JJ cord-035342-sf0zld5z 401 18 investors investor NNS cord-035342-sf0zld5z 401 19 . . . cord-035342-sf0zld5z 402 1 The the DT cord-035342-sf0zld5z 402 2 result result NN cord-035342-sf0zld5z 402 3 can can MD cord-035342-sf0zld5z 402 4 be be VB cord-035342-sf0zld5z 402 5 easily easily RB cord-035342-sf0zld5z 402 6 explained explain VBN cord-035342-sf0zld5z 402 7 , , , cord-035342-sf0zld5z 402 8 because because IN cord-035342-sf0zld5z 402 9 it -PRON- PRP cord-035342-sf0zld5z 402 10 is be VBZ cord-035342-sf0zld5z 402 11 precisely precisely RB cord-035342-sf0zld5z 402 12 for for IN cord-035342-sf0zld5z 402 13 such such JJ cord-035342-sf0zld5z 402 14 characterized characterize VBN cord-035342-sf0zld5z 402 15 firms firm NNS cord-035342-sf0zld5z 402 16 that that IN cord-035342-sf0zld5z 402 17 local local JJ cord-035342-sf0zld5z 402 18 information information NN cord-035342-sf0zld5z 402 19 can can MD cord-035342-sf0zld5z 402 20 be be VB cord-035342-sf0zld5z 402 21 obtained obtain VBN cord-035342-sf0zld5z 402 22 most most RBS cord-035342-sf0zld5z 402 23 easily easily RB cord-035342-sf0zld5z 402 24 and and CC cord-035342-sf0zld5z 402 25 informational informational JJ cord-035342-sf0zld5z 402 26 advantages advantage NNS cord-035342-sf0zld5z 402 27 have have VBP cord-035342-sf0zld5z 402 28 the the DT cord-035342-sf0zld5z 402 29 biggest big JJS cord-035342-sf0zld5z 402 30 impact impact NN cord-035342-sf0zld5z 402 31 on on IN cord-035342-sf0zld5z 402 32 performance performance NN cord-035342-sf0zld5z 402 33 ( ( -LRB- cord-035342-sf0zld5z 402 34 e.g. e.g. RB cord-035342-sf0zld5z 402 35 the the DT cord-035342-sf0zld5z 402 36 firm firm NN cord-035342-sf0zld5z 402 37 is be VBZ cord-035342-sf0zld5z 402 38 not not RB cord-035342-sf0zld5z 402 39 known know VBN cord-035342-sf0zld5z 402 40 as as IN cord-035342-sf0zld5z 402 41 widespread widespread JJ cord-035342-sf0zld5z 402 42 , , , cord-035342-sf0zld5z 402 43 therefore therefore RB cord-035342-sf0zld5z 402 44 the the DT cord-035342-sf0zld5z 402 45 information information NN cord-035342-sf0zld5z 402 46 about about IN cord-035342-sf0zld5z 402 47 the the DT cord-035342-sf0zld5z 402 48 firm firm NN cord-035342-sf0zld5z 402 49 is be VBZ cord-035342-sf0zld5z 402 50 not not RB cord-035342-sf0zld5z 402 51 either either RB cord-035342-sf0zld5z 402 52 ) ) -RRB- cord-035342-sf0zld5z 402 53 . . . cord-035342-sf0zld5z 403 1 As as RB cord-035342-sf0zld5z 403 2 well well RB cord-035342-sf0zld5z 403 3 , , , cord-035342-sf0zld5z 403 4 geographic geographic JJ cord-035342-sf0zld5z 403 5 proximity proximity NN cord-035342-sf0zld5z 403 6 leads lead VBZ cord-035342-sf0zld5z 403 7 to to IN cord-035342-sf0zld5z 403 8 informational informational JJ cord-035342-sf0zld5z 403 9 advantages advantage NNS cord-035342-sf0zld5z 403 10 for for IN cord-035342-sf0zld5z 403 11 local local JJ cord-035342-sf0zld5z 403 12 investors investor NNS cord-035342-sf0zld5z 403 13 . . . cord-035342-sf0zld5z 404 1 Local local JJ cord-035342-sf0zld5z 404 2 investors investor NNS cord-035342-sf0zld5z 404 3 have have VBP cord-035342-sf0zld5z 404 4 lower low JJR cord-035342-sf0zld5z 404 5 costs cost NNS cord-035342-sf0zld5z 404 6 to to TO cord-035342-sf0zld5z 404 7 monitor monitor VB cord-035342-sf0zld5z 404 8 the the DT cord-035342-sf0zld5z 404 9 local local JJ cord-035342-sf0zld5z 404 10 firm firm NN cord-035342-sf0zld5z 404 11 and and CC cord-035342-sf0zld5z 404 12 the the DT cord-035342-sf0zld5z 404 13 local local JJ cord-035342-sf0zld5z 404 14 stock stock NN cord-035342-sf0zld5z 404 15 or or CC cord-035342-sf0zld5z 404 16 have have VB cord-035342-sf0zld5z 404 17 special special JJ cord-035342-sf0zld5z 404 18 access access NN cord-035342-sf0zld5z 404 19 to to IN cord-035342-sf0zld5z 404 20 specific specific JJ cord-035342-sf0zld5z 404 21 , , , cord-035342-sf0zld5z 404 22 investment investment NN cord-035342-sf0zld5z 404 23 - - HYPH cord-035342-sf0zld5z 404 24 relevant relevant JJ cord-035342-sf0zld5z 404 25 information information NN cord-035342-sf0zld5z 404 26 ( ( -LRB- cord-035342-sf0zld5z 404 27 Coval Coval NNP cord-035342-sf0zld5z 404 28 and and CC cord-035342-sf0zld5z 404 29 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 404 30 2001 2001 CD cord-035342-sf0zld5z 404 31 ) ) -RRB- cord-035342-sf0zld5z 404 32 . . . cord-035342-sf0zld5z 405 1 Baik Baik NNP cord-035342-sf0zld5z 405 2 et et NNP cord-035342-sf0zld5z 405 3 al al NNP cord-035342-sf0zld5z 405 4 . . . cord-035342-sf0zld5z 406 1 ( ( -LRB- cord-035342-sf0zld5z 406 2 2010 2010 CD cord-035342-sf0zld5z 406 3 ) ) -RRB- cord-035342-sf0zld5z 406 4 and and CC cord-035342-sf0zld5z 406 5 Gaspar Gaspar NNP cord-035342-sf0zld5z 406 6 and and CC cord-035342-sf0zld5z 406 7 Massa Massa NNP cord-035342-sf0zld5z 406 8 ( ( -LRB- cord-035342-sf0zld5z 406 9 2007 2007 CD cord-035342-sf0zld5z 406 10 ) ) -RRB- cord-035342-sf0zld5z 406 11 also also RB cord-035342-sf0zld5z 406 12 support support VBP cord-035342-sf0zld5z 406 13 the the DT cord-035342-sf0zld5z 406 14 information information NN cord-035342-sf0zld5z 406 15 advantage advantage NN cord-035342-sf0zld5z 406 16 theory theory NN cord-035342-sf0zld5z 406 17 of of IN cord-035342-sf0zld5z 406 18 local local JJ cord-035342-sf0zld5z 406 19 investments investment NNS cord-035342-sf0zld5z 406 20 . . . cord-035342-sf0zld5z 407 1 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 407 2 and and CC cord-035342-sf0zld5z 407 3 Weisbenner Weisbenner NNP cord-035342-sf0zld5z 407 4 ( ( -LRB- cord-035342-sf0zld5z 407 5 2005 2005 CD cord-035342-sf0zld5z 407 6 ) ) -RRB- cord-035342-sf0zld5z 407 7 and and CC cord-035342-sf0zld5z 407 8 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 407 9 et et NNP cord-035342-sf0zld5z 407 10 al al NNP cord-035342-sf0zld5z 407 11 . . . cord-035342-sf0zld5z 408 1 ( ( -LRB- cord-035342-sf0zld5z 408 2 2008 2008 CD cord-035342-sf0zld5z 408 3 ) ) -RRB- cord-035342-sf0zld5z 408 4 go go VB cord-035342-sf0zld5z 408 5 the the DT cord-035342-sf0zld5z 408 6 argumentation argumentation NN cord-035342-sf0zld5z 408 7 the the DT cord-035342-sf0zld5z 408 8 other other JJ cord-035342-sf0zld5z 408 9 way way NN cord-035342-sf0zld5z 408 10 around around RB cord-035342-sf0zld5z 408 11 and and CC cord-035342-sf0zld5z 408 12 conclude conclude VB cord-035342-sf0zld5z 408 13 from from IN cord-035342-sf0zld5z 408 14 a a DT cord-035342-sf0zld5z 408 15 better well JJR cord-035342-sf0zld5z 408 16 performance performance NN cord-035342-sf0zld5z 408 17 of of IN cord-035342-sf0zld5z 408 18 a a DT cord-035342-sf0zld5z 408 19 biased biased JJ cord-035342-sf0zld5z 408 20 / / SYM cord-035342-sf0zld5z 408 21 concentrated concentrated JJ cord-035342-sf0zld5z 408 22 portfolio portfolio NN cord-035342-sf0zld5z 408 23 as as IN cord-035342-sf0zld5z 408 24 local local JJ cord-035342-sf0zld5z 408 25 information information NN cord-035342-sf0zld5z 408 26 advantage advantage NN cord-035342-sf0zld5z 408 27 . . . cord-035342-sf0zld5z 409 1 They -PRON- PRP cord-035342-sf0zld5z 409 2 find find VBP cord-035342-sf0zld5z 409 3 that that IN cord-035342-sf0zld5z 409 4 investing invest VBG cord-035342-sf0zld5z 409 5 locally locally RB cord-035342-sf0zld5z 409 6 in in IN cord-035342-sf0zld5z 409 7 combination combination NN cord-035342-sf0zld5z 409 8 with with IN cord-035342-sf0zld5z 409 9 a a DT cord-035342-sf0zld5z 409 10 concentration concentration NN cord-035342-sf0zld5z 409 11 on on IN cord-035342-sf0zld5z 409 12 a a DT cord-035342-sf0zld5z 409 13 very very RB cord-035342-sf0zld5z 409 14 few few JJ cord-035342-sf0zld5z 409 15 stocks stock NNS cord-035342-sf0zld5z 409 16 , , , cord-035342-sf0zld5z 409 17 the the DT cord-035342-sf0zld5z 409 18 best good JJS cord-035342-sf0zld5z 409 19 results result NNS cord-035342-sf0zld5z 409 20 would would MD cord-035342-sf0zld5z 409 21 be be VB cord-035342-sf0zld5z 409 22 yielded yield VBN cord-035342-sf0zld5z 409 23 . . . cord-035342-sf0zld5z 410 1 Besides besides RB cord-035342-sf0zld5z 410 2 , , , cord-035342-sf0zld5z 410 3 by by IN cord-035342-sf0zld5z 410 4 mimicking mimic VBG cord-035342-sf0zld5z 410 5 the the DT cord-035342-sf0zld5z 410 6 behaviour behaviour NN cord-035342-sf0zld5z 410 7 of of IN cord-035342-sf0zld5z 410 8 the the DT cord-035342-sf0zld5z 410 9 local local JJ cord-035342-sf0zld5z 410 10 investors investor NNS cord-035342-sf0zld5z 410 11 , , , cord-035342-sf0zld5z 410 12 outside outside IN cord-035342-sf0zld5z 410 13 investors investor NNS cord-035342-sf0zld5z 410 14 are be VBP cord-035342-sf0zld5z 410 15 able able JJ cord-035342-sf0zld5z 410 16 to to TO cord-035342-sf0zld5z 410 17 increase increase VB cord-035342-sf0zld5z 410 18 returns return NNS cord-035342-sf0zld5z 410 19 ( ( -LRB- cord-035342-sf0zld5z 410 20 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 410 21 and and CC cord-035342-sf0zld5z 410 22 Weisbenner Weisbenner NNP cord-035342-sf0zld5z 410 23 2005 2005 CD cord-035342-sf0zld5z 410 24 ) ) -RRB- cord-035342-sf0zld5z 410 25 . . . cord-035342-sf0zld5z 411 1 Information information NN cord-035342-sf0zld5z 411 2 advantages advantage NNS cord-035342-sf0zld5z 411 3 also also RB cord-035342-sf0zld5z 411 4 cause cause VBP cord-035342-sf0zld5z 411 5 the the DT cord-035342-sf0zld5z 411 6 local local JJ cord-035342-sf0zld5z 411 7 bias bias NN cord-035342-sf0zld5z 411 8 for for IN cord-035342-sf0zld5z 411 9 investment investment NN cord-035342-sf0zld5z 411 10 decisions decision NNS cord-035342-sf0zld5z 411 11 of of IN cord-035342-sf0zld5z 411 12 startups startup NNS cord-035342-sf0zld5z 411 13 ( ( -LRB- cord-035342-sf0zld5z 411 14 Parwada Parwada NNP cord-035342-sf0zld5z 411 15 2008 2008 CD cord-035342-sf0zld5z 411 16 ) ) -RRB- cord-035342-sf0zld5z 411 17 . . . cord-035342-sf0zld5z 412 1 The the DT cord-035342-sf0zld5z 412 2 founders founder NNS cord-035342-sf0zld5z 412 3 are be VBP cord-035342-sf0zld5z 412 4 able able JJ cord-035342-sf0zld5z 412 5 to to TO cord-035342-sf0zld5z 412 6 maintain maintain VB cord-035342-sf0zld5z 412 7 their -PRON- PRP$ cord-035342-sf0zld5z 412 8 local local JJ cord-035342-sf0zld5z 412 9 and and CC cord-035342-sf0zld5z 412 10 familiar familiar JJ cord-035342-sf0zld5z 412 11 network network NN cord-035342-sf0zld5z 412 12 of of IN cord-035342-sf0zld5z 412 13 the the DT cord-035342-sf0zld5z 412 14 former former JJ cord-035342-sf0zld5z 412 15 employment employment NN cord-035342-sf0zld5z 412 16 and and CC cord-035342-sf0zld5z 412 17 use use VB cord-035342-sf0zld5z 412 18 the the DT cord-035342-sf0zld5z 412 19 local local JJ cord-035342-sf0zld5z 412 20 information information NN cord-035342-sf0zld5z 412 21 . . . cord-035342-sf0zld5z 413 1 This this DT cord-035342-sf0zld5z 413 2 leads lead VBZ cord-035342-sf0zld5z 413 3 to to IN cord-035342-sf0zld5z 413 4 a a DT cord-035342-sf0zld5z 413 5 local local JJ cord-035342-sf0zld5z 413 6 bias bias NN cord-035342-sf0zld5z 413 7 in in IN cord-035342-sf0zld5z 413 8 equities equity NNS cord-035342-sf0zld5z 413 9 three three CD cord-035342-sf0zld5z 413 10 times time NNS cord-035342-sf0zld5z 413 11 higher high JJR cord-035342-sf0zld5z 413 12 than than IN cord-035342-sf0zld5z 413 13 the the DT cord-035342-sf0zld5z 413 14 local local JJ cord-035342-sf0zld5z 413 15 bias bias NN cord-035342-sf0zld5z 413 16 of of IN cord-035342-sf0zld5z 413 17 mutual mutual JJ cord-035342-sf0zld5z 413 18 funds fund NNS cord-035342-sf0zld5z 413 19 , , , cord-035342-sf0zld5z 413 20 reported report VBN cord-035342-sf0zld5z 413 21 by by IN cord-035342-sf0zld5z 413 22 Coval Coval NNP cord-035342-sf0zld5z 413 23 and and CC cord-035342-sf0zld5z 413 24 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 413 25 ( ( -LRB- cord-035342-sf0zld5z 413 26 2001 2001 CD cord-035342-sf0zld5z 413 27 ) ) -RRB- cord-035342-sf0zld5z 413 28 . . . cord-035342-sf0zld5z 414 1 Even even RB cord-035342-sf0zld5z 414 2 investment investment NN cord-035342-sf0zld5z 414 3 banks bank NNS cord-035342-sf0zld5z 414 4 exhibit exhibit VBP cord-035342-sf0zld5z 414 5 local local JJ cord-035342-sf0zld5z 414 6 bias bias NN cord-035342-sf0zld5z 414 7 due due JJ cord-035342-sf0zld5z 414 8 to to IN cord-035342-sf0zld5z 414 9 informational informational JJ cord-035342-sf0zld5z 414 10 advantages advantage NNS cord-035342-sf0zld5z 414 11 when when WRB cord-035342-sf0zld5z 414 12 placing place VBG cord-035342-sf0zld5z 414 13 municipal municipal JJ cord-035342-sf0zld5z 414 14 bonds bond NNS cord-035342-sf0zld5z 414 15 especially especially RB cord-035342-sf0zld5z 414 16 by by IN cord-035342-sf0zld5z 414 17 local local JJ cord-035342-sf0zld5z 414 18 investment investment NN cord-035342-sf0zld5z 414 19 banks bank NNS cord-035342-sf0zld5z 414 20 ( ( -LRB- cord-035342-sf0zld5z 414 21 Butler Butler NNP cord-035342-sf0zld5z 414 22 2008 2008 CD cord-035342-sf0zld5z 414 23 ) ) -RRB- cord-035342-sf0zld5z 414 24 . . . cord-035342-sf0zld5z 415 1 The the DT cord-035342-sf0zld5z 415 2 reason reason NN cord-035342-sf0zld5z 415 3 ' ' `` cord-035342-sf0zld5z 415 4 informational informational JJ cord-035342-sf0zld5z 415 5 advantage advantage NN cord-035342-sf0zld5z 415 6 ' ' '' cord-035342-sf0zld5z 415 7 for for IN cord-035342-sf0zld5z 415 8 local local JJ cord-035342-sf0zld5z 415 9 bias bias NN cord-035342-sf0zld5z 415 10 is be VBZ cord-035342-sf0zld5z 415 11 detected detect VBN cord-035342-sf0zld5z 415 12 for for IN cord-035342-sf0zld5z 415 13 both both DT cord-035342-sf0zld5z 415 14 investor investor NN cord-035342-sf0zld5z 415 15 types type NNS cord-035342-sf0zld5z 415 16 but but CC cord-035342-sf0zld5z 415 17 unfortunately unfortunately RB cord-035342-sf0zld5z 415 18 the the DT cord-035342-sf0zld5z 415 19 evidence evidence NN cord-035342-sf0zld5z 415 20 is be VBZ cord-035342-sf0zld5z 415 21 limited limit VBN cord-035342-sf0zld5z 415 22 to to IN cord-035342-sf0zld5z 415 23 U.S. U.S. NNP cord-035342-sf0zld5z 415 24 investors investor NNS cord-035342-sf0zld5z 415 25 investing invest VBG cord-035342-sf0zld5z 415 26 in in IN cord-035342-sf0zld5z 415 27 the the DT cord-035342-sf0zld5z 415 28 U.S. U.S. NNP cord-035342-sf0zld5z 416 1 Only only RB cord-035342-sf0zld5z 416 2 Bae Bae NNP cord-035342-sf0zld5z 416 3 et et NNP cord-035342-sf0zld5z 416 4 al al NNP cord-035342-sf0zld5z 416 5 . . . cord-035342-sf0zld5z 417 1 ( ( -LRB- cord-035342-sf0zld5z 417 2 2008 2008 CD cord-035342-sf0zld5z 417 3 ) ) -RRB- cord-035342-sf0zld5z 417 4 , , , cord-035342-sf0zld5z 417 5 on on IN cord-035342-sf0zld5z 417 6 the the DT cord-035342-sf0zld5z 417 7 basis basis NN cord-035342-sf0zld5z 417 8 of of IN cord-035342-sf0zld5z 417 9 analysts analyst NNS cord-035342-sf0zld5z 417 10 ' ' POS cord-035342-sf0zld5z 417 11 data datum NNS cord-035342-sf0zld5z 417 12 worldwide worldwide RB cord-035342-sf0zld5z 417 13 , , , cord-035342-sf0zld5z 417 14 observe observe VBP cord-035342-sf0zld5z 417 15 an an DT cord-035342-sf0zld5z 417 16 information information NN cord-035342-sf0zld5z 417 17 advantage advantage NN cord-035342-sf0zld5z 417 18 for for IN cord-035342-sf0zld5z 417 19 local local JJ cord-035342-sf0zld5z 417 20 investors investor NNS cord-035342-sf0zld5z 417 21 respectively respectively RB cord-035342-sf0zld5z 417 22 analysts analyst NNS cord-035342-sf0zld5z 417 23 over over IN cord-035342-sf0zld5z 417 24 foreigners foreigner NNS cord-035342-sf0zld5z 417 25 . . . cord-035342-sf0zld5z 418 1 Some some DT cord-035342-sf0zld5z 418 2 studies study NNS cord-035342-sf0zld5z 418 3 challenge challenge VBP cord-035342-sf0zld5z 418 4 the the DT cord-035342-sf0zld5z 418 5 information information NN cord-035342-sf0zld5z 418 6 - - HYPH cord-035342-sf0zld5z 418 7 based base VBN cord-035342-sf0zld5z 418 8 explanations explanation NNS cord-035342-sf0zld5z 418 9 of of IN cord-035342-sf0zld5z 418 10 local local JJ cord-035342-sf0zld5z 418 11 and and CC cord-035342-sf0zld5z 418 12 home home NN cord-035342-sf0zld5z 418 13 bias bias NN cord-035342-sf0zld5z 418 14 . . . cord-035342-sf0zld5z 419 1 Even even RB cord-035342-sf0zld5z 419 2 though though IN cord-035342-sf0zld5z 419 3 Seasholes Seasholes NNP cord-035342-sf0zld5z 419 4 and and CC cord-035342-sf0zld5z 419 5 Zhu Zhu NNP cord-035342-sf0zld5z 419 6 ( ( -LRB- cord-035342-sf0zld5z 419 7 2010 2010 CD cord-035342-sf0zld5z 419 8 ) ) -RRB- cord-035342-sf0zld5z 419 9 state state NN cord-035342-sf0zld5z 419 10 that that IN cord-035342-sf0zld5z 419 11 there there EX cord-035342-sf0zld5z 419 12 is be VBZ cord-035342-sf0zld5z 419 13 a a DT cord-035342-sf0zld5z 419 14 local local JJ cord-035342-sf0zld5z 419 15 bias bias NN cord-035342-sf0zld5z 419 16 in in IN cord-035342-sf0zld5z 419 17 the the DT cord-035342-sf0zld5z 419 18 U.S. U.S. NNP cord-035342-sf0zld5z 419 19 , , , cord-035342-sf0zld5z 419 20 they -PRON- PRP cord-035342-sf0zld5z 419 21 do do VBP cord-035342-sf0zld5z 419 22 not not RB cord-035342-sf0zld5z 419 23 observe observe VB cord-035342-sf0zld5z 419 24 informational informational JJ cord-035342-sf0zld5z 419 25 advantage advantage NN cord-035342-sf0zld5z 419 26 of of IN cord-035342-sf0zld5z 419 27 local local JJ cord-035342-sf0zld5z 419 28 investors investor NNS cord-035342-sf0zld5z 419 29 over over IN cord-035342-sf0zld5z 419 30 foreign foreign JJ cord-035342-sf0zld5z 419 31 investors investor NNS cord-035342-sf0zld5z 419 32 . . . cord-035342-sf0zld5z 420 1 The the DT cord-035342-sf0zld5z 420 2 same same JJ cord-035342-sf0zld5z 420 3 conclusions conclusion NNS cord-035342-sf0zld5z 420 4 are be VBP cord-035342-sf0zld5z 420 5 made make VBN cord-035342-sf0zld5z 420 6 by by IN cord-035342-sf0zld5z 420 7 Pool Pool NNP cord-035342-sf0zld5z 420 8 et et NNP cord-035342-sf0zld5z 420 9 al al NNP cord-035342-sf0zld5z 420 10 . . . cord-035342-sf0zld5z 421 1 ( ( -LRB- cord-035342-sf0zld5z 421 2 2012 2012 CD cord-035342-sf0zld5z 421 3 ) ) -RRB- cord-035342-sf0zld5z 421 4 . . . cord-035342-sf0zld5z 422 1 Both both DT cord-035342-sf0zld5z 422 2 findings finding NNS cord-035342-sf0zld5z 422 3 are be VBP cord-035342-sf0zld5z 422 4 based base VBN cord-035342-sf0zld5z 422 5 on on IN cord-035342-sf0zld5z 422 6 the the DT cord-035342-sf0zld5z 422 7 comparison comparison NN cord-035342-sf0zld5z 422 8 between between IN cord-035342-sf0zld5z 422 9 the the DT cord-035342-sf0zld5z 422 10 performance performance NN cord-035342-sf0zld5z 422 11 of of IN cord-035342-sf0zld5z 422 12 biased biased JJ cord-035342-sf0zld5z 422 13 and and CC cord-035342-sf0zld5z 422 14 not not RB cord-035342-sf0zld5z 422 15 - - HYPH cord-035342-sf0zld5z 422 16 biased bias VBN cord-035342-sf0zld5z 422 17 portfolios portfolio NNS cord-035342-sf0zld5z 422 18 . . . cord-035342-sf0zld5z 423 1 It -PRON- PRP cord-035342-sf0zld5z 423 2 may may MD cord-035342-sf0zld5z 423 3 be be VB cord-035342-sf0zld5z 423 4 the the DT cord-035342-sf0zld5z 423 5 case case NN cord-035342-sf0zld5z 423 6 that that IN cord-035342-sf0zld5z 423 7 the the DT cord-035342-sf0zld5z 423 8 possibly possibly RB cord-035342-sf0zld5z 423 9 existing existing JJ cord-035342-sf0zld5z 423 10 surplus surplus NN cord-035342-sf0zld5z 423 11 of of IN cord-035342-sf0zld5z 423 12 information information NN cord-035342-sf0zld5z 423 13 of of IN cord-035342-sf0zld5z 423 14 a a DT cord-035342-sf0zld5z 423 15 domestic domestic JJ cord-035342-sf0zld5z 423 16 or or CC cord-035342-sf0zld5z 423 17 local local JJ cord-035342-sf0zld5z 423 18 investor investor NN cord-035342-sf0zld5z 423 19 has have VBZ cord-035342-sf0zld5z 423 20 a a DT cord-035342-sf0zld5z 423 21 poor poor JJ cord-035342-sf0zld5z 423 22 quality quality NN cord-035342-sf0zld5z 423 23 , , , cord-035342-sf0zld5z 423 24 hence hence RB cord-035342-sf0zld5z 423 25 not not RB cord-035342-sf0zld5z 423 26 results result VBZ cord-035342-sf0zld5z 423 27 in in IN cord-035342-sf0zld5z 423 28 higher high JJR cord-035342-sf0zld5z 423 29 returns return NNS cord-035342-sf0zld5z 423 30 . . . cord-035342-sf0zld5z 424 1 Glassman Glassman NNP cord-035342-sf0zld5z 424 2 and and CC cord-035342-sf0zld5z 424 3 Riddick Riddick NNP cord-035342-sf0zld5z 424 4 ( ( -LRB- cord-035342-sf0zld5z 424 5 2001 2001 CD cord-035342-sf0zld5z 424 6 ) ) -RRB- cord-035342-sf0zld5z 424 7 subsume subsume VB cord-035342-sf0zld5z 424 8 information information NN cord-035342-sf0zld5z 424 9 asymmetries asymmetry NNS cord-035342-sf0zld5z 424 10 to to TO cord-035342-sf0zld5z 424 11 differential differential VB cord-035342-sf0zld5z 424 12 perceived perceive VBN cord-035342-sf0zld5z 424 13 riskiness riskiness NN cord-035342-sf0zld5z 424 14 of of IN cord-035342-sf0zld5z 424 15 foreign foreign JJ cord-035342-sf0zld5z 424 16 assets asset NNS cord-035342-sf0zld5z 424 17 and and CC cord-035342-sf0zld5z 424 18 claim claim VBP cord-035342-sf0zld5z 424 19 that that IN cord-035342-sf0zld5z 424 20 perceived perceive VBD cord-035342-sf0zld5z 424 21 riskiness riskiness NN cord-035342-sf0zld5z 424 22 adjustments adjustment NNS cord-035342-sf0zld5z 424 23 can can MD cord-035342-sf0zld5z 424 24 not not RB cord-035342-sf0zld5z 424 25 explain explain VB cord-035342-sf0zld5z 424 26 home home NN cord-035342-sf0zld5z 424 27 bias bias NN cord-035342-sf0zld5z 424 28 solely solely RB cord-035342-sf0zld5z 424 29 . . . cord-035342-sf0zld5z 425 1 Though though RB cord-035342-sf0zld5z 425 2 , , , cord-035342-sf0zld5z 425 3 all all PDT cord-035342-sf0zld5z 425 4 these these DT cord-035342-sf0zld5z 425 5 studies study NNS cord-035342-sf0zld5z 425 6 questioning question VBG cord-035342-sf0zld5z 425 7 information information NN cord-035342-sf0zld5z 425 8 - - HYPH cord-035342-sf0zld5z 425 9 based base VBN cord-035342-sf0zld5z 425 10 reasons reason NNS cord-035342-sf0zld5z 425 11 follow follow VBP cord-035342-sf0zld5z 425 12 rather rather RB cord-035342-sf0zld5z 425 13 implicit implicit JJ cord-035342-sf0zld5z 425 14 approaches approach NNS cord-035342-sf0zld5z 425 15 , , , cord-035342-sf0zld5z 425 16 i. i. NNP cord-035342-sf0zld5z 425 17 e. e. NNP cord-035342-sf0zld5z 425 18 concluding conclude VBG cord-035342-sf0zld5z 425 19 from from IN cord-035342-sf0zld5z 425 20 performance performance NN cord-035342-sf0zld5z 425 21 results result NNS cord-035342-sf0zld5z 425 22 on on IN cord-035342-sf0zld5z 425 23 possible possible JJ cord-035342-sf0zld5z 425 24 reasons reason NNS cord-035342-sf0zld5z 425 25 . . . cord-035342-sf0zld5z 426 1 Accounting accounting NN cord-035342-sf0zld5z 426 2 and and CC cord-035342-sf0zld5z 426 3 reporting reporting NN cord-035342-sf0zld5z 426 4 standards standard NNS cord-035342-sf0zld5z 426 5 are be VBP cord-035342-sf0zld5z 426 6 a a DT cord-035342-sf0zld5z 426 7 reason reason NN cord-035342-sf0zld5z 426 8 mentioned mention VBN cord-035342-sf0zld5z 426 9 frequently frequently RB cord-035342-sf0zld5z 426 10 in in IN cord-035342-sf0zld5z 426 11 research research NN cord-035342-sf0zld5z 426 12 about about IN cord-035342-sf0zld5z 426 13 home home NN cord-035342-sf0zld5z 426 14 bias bias NN cord-035342-sf0zld5z 426 15 . . . cord-035342-sf0zld5z 427 1 It -PRON- PRP cord-035342-sf0zld5z 427 2 is be VBZ cord-035342-sf0zld5z 427 3 reasonable reasonable JJ cord-035342-sf0zld5z 427 4 to to TO cord-035342-sf0zld5z 427 5 assume assume VB cord-035342-sf0zld5z 427 6 that that IN cord-035342-sf0zld5z 427 7 the the DT cord-035342-sf0zld5z 427 8 adoption adoption NN cord-035342-sf0zld5z 427 9 of of IN cord-035342-sf0zld5z 427 10 accounting accounting NN cord-035342-sf0zld5z 427 11 standards standard NNS cord-035342-sf0zld5z 427 12 is be VBZ cord-035342-sf0zld5z 427 13 related relate VBN cord-035342-sf0zld5z 427 14 to to IN cord-035342-sf0zld5z 427 15 information information NN cord-035342-sf0zld5z 427 16 asymmetries asymmetry NNS cord-035342-sf0zld5z 427 17 . . . cord-035342-sf0zld5z 428 1 As as IN cord-035342-sf0zld5z 428 2 Bradshaw Bradshaw NNP cord-035342-sf0zld5z 428 3 et et NNP cord-035342-sf0zld5z 428 4 al al NNP cord-035342-sf0zld5z 428 5 . . . cord-035342-sf0zld5z 429 1 ( ( -LRB- cord-035342-sf0zld5z 429 2 2004 2004 CD cord-035342-sf0zld5z 429 3 , , , cord-035342-sf0zld5z 429 4 p. p. NN cord-035342-sf0zld5z 429 5 836 836 CD cord-035342-sf0zld5z 429 6 ) ) -RRB- cord-035342-sf0zld5z 429 7 say say VBP cord-035342-sf0zld5z 429 8 " " `` cord-035342-sf0zld5z 429 9 informational informational JJ cord-035342-sf0zld5z 429 10 issues issue NNS cord-035342-sf0zld5z 429 11 that that WDT cord-035342-sf0zld5z 429 12 affect affect VBP cord-035342-sf0zld5z 429 13 home home NN cord-035342-sf0zld5z 429 14 bias bias NN cord-035342-sf0zld5z 429 15 are be VBP cord-035342-sf0zld5z 429 16 multilevel multilevel JJ cord-035342-sf0zld5z 429 17 and and CC cord-035342-sf0zld5z 429 18 at at IN cord-035342-sf0zld5z 429 19 least least JJS cord-035342-sf0zld5z 429 20 partially partially RB cord-035342-sf0zld5z 429 21 due due JJ cord-035342-sf0zld5z 429 22 to to IN cord-035342-sf0zld5z 429 23 reporting report VBG cord-035342-sf0zld5z 429 24 decisions decision NNS cord-035342-sf0zld5z 429 25 " " '' cord-035342-sf0zld5z 429 26 . . . cord-035342-sf0zld5z 430 1 Examining examine VBG cord-035342-sf0zld5z 430 2 investment investment NN cord-035342-sf0zld5z 430 3 decisions decision NNS cord-035342-sf0zld5z 430 4 of of IN cord-035342-sf0zld5z 430 5 institutional institutional JJ cord-035342-sf0zld5z 430 6 U.S. U.S. NNP cord-035342-sf0zld5z 430 7 investors investor NNS cord-035342-sf0zld5z 430 8 in in IN cord-035342-sf0zld5z 430 9 non non JJ cord-035342-sf0zld5z 430 10 - - JJ cord-035342-sf0zld5z 430 11 U u JJ cord-035342-sf0zld5z 430 12 - - HYPH cord-035342-sf0zld5z 430 13 S. S. NNP cord-035342-sf0zld5z 430 14 firms firm NNS cord-035342-sf0zld5z 430 15 , , , cord-035342-sf0zld5z 430 16 7 7 CD cord-035342-sf0zld5z 430 17 Bradshaw Bradshaw NNP cord-035342-sf0zld5z 430 18 et et NNP cord-035342-sf0zld5z 430 19 al al NNP cord-035342-sf0zld5z 430 20 . . . cord-035342-sf0zld5z 431 1 ( ( -LRB- cord-035342-sf0zld5z 431 2 2004 2004 CD cord-035342-sf0zld5z 431 3 ) ) -RRB- cord-035342-sf0zld5z 431 4 document document NN cord-035342-sf0zld5z 431 5 that that IN cord-035342-sf0zld5z 431 6 if if IN cord-035342-sf0zld5z 431 7 a a DT cord-035342-sf0zld5z 431 8 non non JJ cord-035342-sf0zld5z 431 9 - - JJ cord-035342-sf0zld5z 431 10 U.S. U.S. NNP cord-035342-sf0zld5z 431 11 firm firm NN cord-035342-sf0zld5z 431 12 has have VBZ cord-035342-sf0zld5z 431 13 a a DT cord-035342-sf0zld5z 431 14 high high JJ cord-035342-sf0zld5z 431 15 level level NN cord-035342-sf0zld5z 431 16 of of IN cord-035342-sf0zld5z 431 17 adoption adoption NN cord-035342-sf0zld5z 431 18 of of IN cord-035342-sf0zld5z 431 19 U.S. U.S. NNP cord-035342-sf0zld5z 431 20 accounting accounting NN cord-035342-sf0zld5z 431 21 standards standard NNS cord-035342-sf0zld5z 431 22 , , , cord-035342-sf0zld5z 431 23 U.S. U.S. NNP cord-035342-sf0zld5z 431 24 investors investor NNS cord-035342-sf0zld5z 431 25 invest invest VBP cord-035342-sf0zld5z 431 26 more more RBR cord-035342-sf0zld5z 431 27 in in IN cord-035342-sf0zld5z 431 28 such such PDT cord-035342-sf0zld5z 431 29 a a DT cord-035342-sf0zld5z 431 30 firm firm NN cord-035342-sf0zld5z 431 31 . . . cord-035342-sf0zld5z 432 1 Thus thus RB cord-035342-sf0zld5z 432 2 , , , cord-035342-sf0zld5z 432 3 there there EX cord-035342-sf0zld5z 432 4 is be VBZ cord-035342-sf0zld5z 432 5 a a DT cord-035342-sf0zld5z 432 6 higher high JJR cord-035342-sf0zld5z 432 7 degree degree NN cord-035342-sf0zld5z 432 8 of of IN cord-035342-sf0zld5z 432 9 diversification diversification NN cord-035342-sf0zld5z 432 10 , , , cord-035342-sf0zld5z 432 11 hence hence RB cord-035342-sf0zld5z 432 12 less less JJR cord-035342-sf0zld5z 432 13 investment investment NN cord-035342-sf0zld5z 432 14 in in IN cord-035342-sf0zld5z 432 15 the the DT cord-035342-sf0zld5z 432 16 domestic domestic JJ cord-035342-sf0zld5z 432 17 market market NN cord-035342-sf0zld5z 432 18 ( ( -LRB- cord-035342-sf0zld5z 432 19 home home NN cord-035342-sf0zld5z 432 20 bias bias NN cord-035342-sf0zld5z 432 21 ) ) -RRB- cord-035342-sf0zld5z 432 22 . . . cord-035342-sf0zld5z 433 1 The the DT cord-035342-sf0zld5z 433 2 adoption adoption NN cord-035342-sf0zld5z 433 3 of of IN cord-035342-sf0zld5z 433 4 U.S. U.S. NNP cord-035342-sf0zld5z 433 5 accounting accounting NN cord-035342-sf0zld5z 433 6 standards standard NNS cord-035342-sf0zld5z 433 7 contributes contribute VBZ cord-035342-sf0zld5z 433 8 to to IN cord-035342-sf0zld5z 433 9 a a DT cord-035342-sf0zld5z 433 10 reduction reduction NN cord-035342-sf0zld5z 433 11 of of IN cord-035342-sf0zld5z 433 12 information information NN cord-035342-sf0zld5z 433 13 processing processing NN cord-035342-sf0zld5z 433 14 costs cost NNS cord-035342-sf0zld5z 433 15 for for IN cord-035342-sf0zld5z 433 16 potential potential JJ cord-035342-sf0zld5z 433 17 investors investor NNS cord-035342-sf0zld5z 433 18 . . . cord-035342-sf0zld5z 434 1 Besides besides RB cord-035342-sf0zld5z 434 2 , , , cord-035342-sf0zld5z 434 3 investors investor NNS cord-035342-sf0zld5z 434 4 feel feel VBP cord-035342-sf0zld5z 434 5 familiar familiar JJ cord-035342-sf0zld5z 434 6 and and CC cord-035342-sf0zld5z 434 7 comfortable comfortable JJ cord-035342-sf0zld5z 434 8 with with IN cord-035342-sf0zld5z 434 9 the the DT cord-035342-sf0zld5z 434 10 well well RB cord-035342-sf0zld5z 434 11 - - HYPH cord-035342-sf0zld5z 434 12 known know VBN cord-035342-sf0zld5z 434 13 standards standard NNS cord-035342-sf0zld5z 434 14 . . . cord-035342-sf0zld5z 435 1 U.S. U.S. NNP cord-035342-sf0zld5z 435 2 investors investor NNS cord-035342-sf0zld5z 435 3 are be VBP cord-035342-sf0zld5z 435 4 home home NN cord-035342-sf0zld5z 435 5 - - HYPH cord-035342-sf0zld5z 435 6 biased biased JJ cord-035342-sf0zld5z 435 7 towards towards IN cord-035342-sf0zld5z 435 8 accounting accounting NN cord-035342-sf0zld5z 435 9 standards standard NNS cord-035342-sf0zld5z 435 10 that that WDT cord-035342-sf0zld5z 435 11 they -PRON- PRP cord-035342-sf0zld5z 435 12 know know VBP cord-035342-sf0zld5z 435 13 ( ( -LRB- cord-035342-sf0zld5z 435 14 Bradshaw Bradshaw NNP cord-035342-sf0zld5z 435 15 et et NNP cord-035342-sf0zld5z 435 16 al al NNP cord-035342-sf0zld5z 435 17 . . . cord-035342-sf0zld5z 435 18 2004 2004 CD cord-035342-sf0zld5z 435 19 ) ) -RRB- cord-035342-sf0zld5z 435 20 . . . cord-035342-sf0zld5z 436 1 With with IN cord-035342-sf0zld5z 436 2 a a DT cord-035342-sf0zld5z 436 3 different different JJ cord-035342-sf0zld5z 436 4 approach approach NN cord-035342-sf0zld5z 436 5 , , , cord-035342-sf0zld5z 436 6 Ahearne Ahearne NNP cord-035342-sf0zld5z 436 7 et et NNP cord-035342-sf0zld5z 436 8 al al NNP cord-035342-sf0zld5z 436 9 . . . cord-035342-sf0zld5z 437 1 ( ( -LRB- cord-035342-sf0zld5z 437 2 2004 2004 CD cord-035342-sf0zld5z 437 3 ) ) -RRB- cord-035342-sf0zld5z 437 4 confirm confirm VBP cord-035342-sf0zld5z 437 5 that that IN cord-035342-sf0zld5z 437 6 information information NN cord-035342-sf0zld5z 437 7 costs cost NNS cord-035342-sf0zld5z 437 8 and and CC cord-035342-sf0zld5z 437 9 asymmetry asymmetry NN cord-035342-sf0zld5z 437 10 are be VBP cord-035342-sf0zld5z 437 11 highly highly RB cord-035342-sf0zld5z 437 12 related relate VBN cord-035342-sf0zld5z 437 13 to to IN cord-035342-sf0zld5z 437 14 accounting accounting NN cord-035342-sf0zld5z 437 15 standards standard NNS cord-035342-sf0zld5z 437 16 . . . cord-035342-sf0zld5z 438 1 Firms firm NNS cord-035342-sf0zld5z 438 2 are be VBP cord-035342-sf0zld5z 438 3 able able JJ cord-035342-sf0zld5z 438 4 to to TO cord-035342-sf0zld5z 438 5 reduce reduce VB cord-035342-sf0zld5z 438 6 information information NN cord-035342-sf0zld5z 438 7 costs cost NNS cord-035342-sf0zld5z 438 8 for for IN cord-035342-sf0zld5z 438 9 potential potential JJ cord-035342-sf0zld5z 438 10 investors investor NNS cord-035342-sf0zld5z 438 11 by by IN cord-035342-sf0zld5z 438 12 listing list VBG cord-035342-sf0zld5z 438 13 their -PRON- PRP$ cord-035342-sf0zld5z 438 14 equities equity NNS cord-035342-sf0zld5z 438 15 publicly publicly RB cord-035342-sf0zld5z 438 16 in in IN cord-035342-sf0zld5z 438 17 foreign foreign JJ cord-035342-sf0zld5z 438 18 indexes index NNS cord-035342-sf0zld5z 438 19 and and CC cord-035342-sf0zld5z 438 20 thus thus RB cord-035342-sf0zld5z 438 21 have have VB cord-035342-sf0zld5z 438 22 to to TO cord-035342-sf0zld5z 438 23 comply comply VB cord-035342-sf0zld5z 438 24 with with IN cord-035342-sf0zld5z 438 25 the the DT cord-035342-sf0zld5z 438 26 regulatory regulatory JJ cord-035342-sf0zld5z 438 27 issues issue NNS cord-035342-sf0zld5z 438 28 . . . cord-035342-sf0zld5z 439 1 For for IN cord-035342-sf0zld5z 439 2 example example NN cord-035342-sf0zld5z 439 3 , , , cord-035342-sf0zld5z 439 4 just just RB cord-035342-sf0zld5z 439 5 18 18 CD cord-035342-sf0zld5z 439 6 % % NN cord-035342-sf0zld5z 439 7 of of IN cord-035342-sf0zld5z 439 8 German german JJ cord-035342-sf0zld5z 439 9 firms firm NNS cord-035342-sf0zld5z 439 10 are be VBP cord-035342-sf0zld5z 439 11 listed list VBN cord-035342-sf0zld5z 439 12 in in IN cord-035342-sf0zld5z 439 13 the the DT cord-035342-sf0zld5z 439 14 U.S. U.S. NNP cord-035342-sf0zld5z 439 15 , , , cord-035342-sf0zld5z 439 16 while while IN cord-035342-sf0zld5z 439 17 81 81 CD cord-035342-sf0zld5z 439 18 % % NN cord-035342-sf0zld5z 439 19 of of IN cord-035342-sf0zld5z 439 20 Dutch dutch JJ cord-035342-sf0zld5z 439 21 firms firm NNS cord-035342-sf0zld5z 439 22 . . . cord-035342-sf0zld5z 440 1 That that DT cord-035342-sf0zld5z 440 2 is be VBZ cord-035342-sf0zld5z 440 3 one one CD cord-035342-sf0zld5z 440 4 potential potential JJ cord-035342-sf0zld5z 440 5 reason reason NN cord-035342-sf0zld5z 440 6 why why WRB cord-035342-sf0zld5z 440 7 U.S. U.S. NNP cord-035342-sf0zld5z 440 8 investors investor NNS cord-035342-sf0zld5z 440 9 underweight underweight JJ cord-035342-sf0zld5z 440 10 German german JJ cord-035342-sf0zld5z 440 11 companies company NNS cord-035342-sf0zld5z 440 12 and and CC cord-035342-sf0zld5z 440 13 assets asset NNS cord-035342-sf0zld5z 440 14 much much RB cord-035342-sf0zld5z 440 15 more more JJR cord-035342-sf0zld5z 440 16 in in IN cord-035342-sf0zld5z 440 17 their -PRON- PRP$ cord-035342-sf0zld5z 440 18 portfolio portfolio NN cord-035342-sf0zld5z 440 19 compared compare VBN cord-035342-sf0zld5z 440 20 to to IN cord-035342-sf0zld5z 440 21 Dutch Dutch NNP cord-035342-sf0zld5z 440 22 . . . cord-035342-sf0zld5z 441 1 If if IN cord-035342-sf0zld5z 441 2 all all DT cord-035342-sf0zld5z 441 3 firms firm NNS cord-035342-sf0zld5z 441 4 were be VBD cord-035342-sf0zld5z 441 5 listed list VBN cord-035342-sf0zld5z 441 6 in in IN cord-035342-sf0zld5z 441 7 the the DT cord-035342-sf0zld5z 441 8 U.S. U.S. NNP cord-035342-sf0zld5z 441 9 , , , cord-035342-sf0zld5z 441 10 a a DT cord-035342-sf0zld5z 441 11 large large JJ cord-035342-sf0zld5z 441 12 extent extent NN cord-035342-sf0zld5z 441 13 of of IN cord-035342-sf0zld5z 441 14 home home NN cord-035342-sf0zld5z 441 15 bias bias NN cord-035342-sf0zld5z 441 16 should should MD cord-035342-sf0zld5z 441 17 be be VB cord-035342-sf0zld5z 441 18 eliminated eliminate VBN cord-035342-sf0zld5z 441 19 . . . cord-035342-sf0zld5z 442 1 Though though RB cord-035342-sf0zld5z 442 2 , , , cord-035342-sf0zld5z 442 3 not not RB cord-035342-sf0zld5z 442 4 all all DT cord-035342-sf0zld5z 442 5 of of IN cord-035342-sf0zld5z 442 6 it -PRON- PRP cord-035342-sf0zld5z 442 7 as as IN cord-035342-sf0zld5z 442 8 public public JJ cord-035342-sf0zld5z 442 9 listing listing NN cord-035342-sf0zld5z 442 10 and and CC cord-035342-sf0zld5z 442 11 adopting adopt VBG cord-035342-sf0zld5z 442 12 certain certain JJ cord-035342-sf0zld5z 442 13 accounting accounting NN cord-035342-sf0zld5z 442 14 standards standard NNS cord-035342-sf0zld5z 442 15 are be VBP cord-035342-sf0zld5z 442 16 only only RB cord-035342-sf0zld5z 442 17 two two CD cord-035342-sf0zld5z 442 18 aspects aspect NNS cord-035342-sf0zld5z 442 19 contributing contribute VBG cord-035342-sf0zld5z 442 20 to to IN cord-035342-sf0zld5z 442 21 home home NN cord-035342-sf0zld5z 442 22 bias bias NN cord-035342-sf0zld5z 442 23 , , , cord-035342-sf0zld5z 442 24 i. i. NNP cord-035342-sf0zld5z 442 25 e. e. NNP cord-035342-sf0zld5z 442 26 not not RB cord-035342-sf0zld5z 442 27 being be VBG cord-035342-sf0zld5z 442 28 able able JJ cord-035342-sf0zld5z 442 29 to to TO cord-035342-sf0zld5z 442 30 entirely entirely RB cord-035342-sf0zld5z 442 31 explain explain VB cord-035342-sf0zld5z 442 32 the the DT cord-035342-sf0zld5z 442 33 extent extent NN cord-035342-sf0zld5z 442 34 ( ( -LRB- cord-035342-sf0zld5z 442 35 Ahearne Ahearne NNP cord-035342-sf0zld5z 442 36 et et NNP cord-035342-sf0zld5z 442 37 al al NNP cord-035342-sf0zld5z 442 38 . . . cord-035342-sf0zld5z 442 39 2004 2004 CD cord-035342-sf0zld5z 442 40 ) ) -RRB- cord-035342-sf0zld5z 442 41 . . . cord-035342-sf0zld5z 443 1 Mishra Mishra NNP cord-035342-sf0zld5z 443 2 ( ( -LRB- cord-035342-sf0zld5z 443 3 2015 2015 CD cord-035342-sf0zld5z 443 4 ) ) -RRB- cord-035342-sf0zld5z 443 5 supports support VBZ cord-035342-sf0zld5z 443 6 the the DT cord-035342-sf0zld5z 443 7 finding finding NN cord-035342-sf0zld5z 443 8 that that IN cord-035342-sf0zld5z 443 9 foreign foreign JJ cord-035342-sf0zld5z 443 10 listing listing NN cord-035342-sf0zld5z 443 11 has have VBZ cord-035342-sf0zld5z 443 12 an an DT cord-035342-sf0zld5z 443 13 negative negative JJ cord-035342-sf0zld5z 443 14 impact impact NN cord-035342-sf0zld5z 443 15 on on IN cord-035342-sf0zld5z 443 16 home home NN cord-035342-sf0zld5z 443 17 bias bias NN cord-035342-sf0zld5z 443 18 . . . cord-035342-sf0zld5z 444 1 Aggarwal Aggarwal NNP cord-035342-sf0zld5z 444 2 et et NNP cord-035342-sf0zld5z 444 3 al al NNP cord-035342-sf0zld5z 444 4 . . . cord-035342-sf0zld5z 445 1 ( ( -LRB- cord-035342-sf0zld5z 445 2 2005 2005 CD cord-035342-sf0zld5z 445 3 ) ) -RRB- cord-035342-sf0zld5z 445 4 report report VBP cord-035342-sf0zld5z 445 5 that that IN cord-035342-sf0zld5z 445 6 U.S. U.S. NNP cord-035342-sf0zld5z 445 7 mutual mutual JJ cord-035342-sf0zld5z 445 8 fund fund NN cord-035342-sf0zld5z 445 9 investors investor NNS cord-035342-sf0zld5z 445 10 have have VBP cord-035342-sf0zld5z 445 11 certain certain JJ cord-035342-sf0zld5z 445 12 preferences preference NNS cord-035342-sf0zld5z 445 13 ( ( -LRB- cord-035342-sf0zld5z 445 14 factors factor NNS cord-035342-sf0zld5z 445 15 ) ) -RRB- cord-035342-sf0zld5z 445 16 related relate VBN cord-035342-sf0zld5z 445 17 to to IN cord-035342-sf0zld5z 445 18 accounting accounting NN cord-035342-sf0zld5z 445 19 issues issue NNS cord-035342-sf0zld5z 445 20 when when WRB cord-035342-sf0zld5z 445 21 investing invest VBG cord-035342-sf0zld5z 445 22 in in IN cord-035342-sf0zld5z 445 23 30 30 CD cord-035342-sf0zld5z 445 24 emerging emerge VBG cord-035342-sf0zld5z 445 25 markets market NNS cord-035342-sf0zld5z 445 26 . . . cord-035342-sf0zld5z 446 1 Countryspecific Countryspecific NNP cord-035342-sf0zld5z 446 2 factors factor NNS cord-035342-sf0zld5z 446 3 consist consist VBP cord-035342-sf0zld5z 446 4 of of IN cord-035342-sf0zld5z 446 5 accounting accounting NN cord-035342-sf0zld5z 446 6 standards standard NNS cord-035342-sf0zld5z 446 7 , , , cord-035342-sf0zld5z 446 8 shareholder shareholder NN cord-035342-sf0zld5z 446 9 rights right NNS cord-035342-sf0zld5z 446 10 and and CC cord-035342-sf0zld5z 446 11 legal legal JJ cord-035342-sf0zld5z 446 12 framework framework NN cord-035342-sf0zld5z 446 13 . . . cord-035342-sf0zld5z 447 1 The the DT cord-035342-sf0zld5z 447 2 issuance issuance NN cord-035342-sf0zld5z 447 3 of of IN cord-035342-sf0zld5z 447 4 American American NNP cord-035342-sf0zld5z 447 5 Depository Depository NNP cord-035342-sf0zld5z 447 6 Receipts Receipts NNPS cord-035342-sf0zld5z 447 7 , , , cord-035342-sf0zld5z 447 8 accounting account VBG cord-035342-sf0zld5z 447 9 transparency transparency NN cord-035342-sf0zld5z 447 10 and and CC cord-035342-sf0zld5z 447 11 the the DT cord-035342-sf0zld5z 447 12 voluntary voluntary JJ cord-035342-sf0zld5z 447 13 adoption adoption NN cord-035342-sf0zld5z 447 14 of of IN cord-035342-sf0zld5z 447 15 accounting accounting NN cord-035342-sf0zld5z 447 16 standards standard NNS cord-035342-sf0zld5z 447 17 belong belong VBP cord-035342-sf0zld5z 447 18 to to IN cord-035342-sf0zld5z 447 19 firm firm JJ cord-035342-sf0zld5z 447 20 - - HYPH cord-035342-sf0zld5z 447 21 specific specific JJ cord-035342-sf0zld5z 447 22 factors factor NNS cord-035342-sf0zld5z 447 23 . . . cord-035342-sf0zld5z 448 1 All all DT cord-035342-sf0zld5z 448 2 of of IN cord-035342-sf0zld5z 448 3 the the DT cord-035342-sf0zld5z 448 4 mentioned mention VBN cord-035342-sf0zld5z 448 5 factors factor NNS cord-035342-sf0zld5z 448 6 have have VBP cord-035342-sf0zld5z 448 7 to to TO cord-035342-sf0zld5z 448 8 be be VB cord-035342-sf0zld5z 448 9 at at IN cord-035342-sf0zld5z 448 10 least least JJS cord-035342-sf0zld5z 448 11 partially partially RB cord-035342-sf0zld5z 448 12 fulfilled fulfil VBN cord-035342-sf0zld5z 448 13 , , , cord-035342-sf0zld5z 448 14 otherwise otherwise RB cord-035342-sf0zld5z 448 15 home home NN cord-035342-sf0zld5z 448 16 bias bias NN cord-035342-sf0zld5z 448 17 occurs occur VBZ cord-035342-sf0zld5z 448 18 for for IN cord-035342-sf0zld5z 448 19 U.S. U.S. NNP cord-035342-sf0zld5z 448 20 investors investor NNS cord-035342-sf0zld5z 448 21 . . . cord-035342-sf0zld5z 449 1 There there EX cord-035342-sf0zld5z 449 2 might may MD cord-035342-sf0zld5z 449 3 be be VB cord-035342-sf0zld5z 449 4 different different JJ cord-035342-sf0zld5z 449 5 results result NNS cord-035342-sf0zld5z 449 6 for for IN cord-035342-sf0zld5z 449 7 other other JJ cord-035342-sf0zld5z 449 8 countries country NNS cord-035342-sf0zld5z 449 9 since since IN cord-035342-sf0zld5z 449 10 U.S. U.S. NNP cord-035342-sf0zld5z 449 11 accounting accounting NN cord-035342-sf0zld5z 449 12 standards standard NNS cord-035342-sf0zld5z 449 13 belong belong VBP cord-035342-sf0zld5z 449 14 for for IN cord-035342-sf0zld5z 449 15 decades decade NNS cord-035342-sf0zld5z 449 16 to to IN cord-035342-sf0zld5z 449 17 the the DT cord-035342-sf0zld5z 449 18 highest high JJS cord-035342-sf0zld5z 449 19 quality quality NN cord-035342-sf0zld5z 449 20 standards standard NNS cord-035342-sf0zld5z 449 21 set set VBN cord-035342-sf0zld5z 449 22 ( ( -LRB- cord-035342-sf0zld5z 449 23 Bradshaw Bradshaw NNP cord-035342-sf0zld5z 449 24 et et NNP cord-035342-sf0zld5z 449 25 al al NNP cord-035342-sf0zld5z 449 26 . . . cord-035342-sf0zld5z 449 27 2004 2004 CD cord-035342-sf0zld5z 449 28 ) ) -RRB- cord-035342-sf0zld5z 449 29 . . . cord-035342-sf0zld5z 450 1 In in IN cord-035342-sf0zld5z 450 2 other other JJ cord-035342-sf0zld5z 450 3 countries country NNS cord-035342-sf0zld5z 450 4 with with IN cord-035342-sf0zld5z 450 5 less less RBR cord-035342-sf0zld5z 450 6 - - HYPH cord-035342-sf0zld5z 450 7 qualified qualified JJ cord-035342-sf0zld5z 450 8 standards standard NNS cord-035342-sf0zld5z 450 9 ( ( -LRB- cord-035342-sf0zld5z 450 10 e.g. e.g. RB cord-035342-sf0zld5z 450 11 Germany Germany NNP cord-035342-sf0zld5z 450 12 or or CC cord-035342-sf0zld5z 450 13 France France NNP cord-035342-sf0zld5z 450 14 ) ) -RRB- cord-035342-sf0zld5z 450 15 , , , cord-035342-sf0zld5z 450 16 investors investor NNS cord-035342-sf0zld5z 450 17 may may MD cord-035342-sf0zld5z 450 18 be be VB cord-035342-sf0zld5z 450 19 less less RBR cord-035342-sf0zld5z 450 20 biased biased JJ cord-035342-sf0zld5z 450 21 towards towards IN cord-035342-sf0zld5z 450 22 their -PRON- PRP$ cord-035342-sf0zld5z 450 23 domestic domestic JJ cord-035342-sf0zld5z 450 24 standards standard NNS cord-035342-sf0zld5z 450 25 . . . cord-035342-sf0zld5z 451 1 However however RB cord-035342-sf0zld5z 451 2 , , , cord-035342-sf0zld5z 451 3 it -PRON- PRP cord-035342-sf0zld5z 451 4 is be VBZ cord-035342-sf0zld5z 451 5 expected expect VBN cord-035342-sf0zld5z 451 6 that that IN cord-035342-sf0zld5z 451 7 accounting accounting NN cord-035342-sf0zld5z 451 8 standards standard NNS cord-035342-sf0zld5z 451 9 also also RB cord-035342-sf0zld5z 451 10 play play VBP cord-035342-sf0zld5z 451 11 a a DT cord-035342-sf0zld5z 451 12 role role NN cord-035342-sf0zld5z 451 13 for for IN cord-035342-sf0zld5z 451 14 those those DT cord-035342-sf0zld5z 451 15 countries country NNS cord-035342-sf0zld5z 451 16 when when WRB cord-035342-sf0zld5z 451 17 explaining explain VBG cord-035342-sf0zld5z 451 18 home home NN cord-035342-sf0zld5z 451 19 bias bias NN cord-035342-sf0zld5z 451 20 , , , cord-035342-sf0zld5z 451 21 though though IN cord-035342-sf0zld5z 451 22 having have VBG cord-035342-sf0zld5z 451 23 less less JJR cord-035342-sf0zld5z 451 24 importance importance NN cord-035342-sf0zld5z 451 25 . . . cord-035342-sf0zld5z 452 1 Covrig Covrig NNP cord-035342-sf0zld5z 452 2 et et NNP cord-035342-sf0zld5z 452 3 al al NNP cord-035342-sf0zld5z 452 4 . . . cord-035342-sf0zld5z 453 1 ( ( -LRB- cord-035342-sf0zld5z 453 2 2007 2007 CD cord-035342-sf0zld5z 453 3 ) ) -RRB- cord-035342-sf0zld5z 453 4 provide provide VB cord-035342-sf0zld5z 453 5 evidence evidence NN cord-035342-sf0zld5z 453 6 on on IN cord-035342-sf0zld5z 453 7 accounting accounting NN cord-035342-sf0zld5z 453 8 standards standard NNS cord-035342-sf0zld5z 453 9 as as IN cord-035342-sf0zld5z 453 10 a a DT cord-035342-sf0zld5z 453 11 reason reason NN cord-035342-sf0zld5z 453 12 for for IN cord-035342-sf0zld5z 453 13 home home NN cord-035342-sf0zld5z 453 14 bias bias NN cord-035342-sf0zld5z 453 15 in in IN cord-035342-sf0zld5z 453 16 an an DT cord-035342-sf0zld5z 453 17 international international JJ cord-035342-sf0zld5z 453 18 setting setting NN cord-035342-sf0zld5z 453 19 . . . cord-035342-sf0zld5z 454 1 Using use VBG cord-035342-sf0zld5z 454 2 International International NNP cord-035342-sf0zld5z 454 3 Accounting Accounting NNP cord-035342-sf0zld5z 454 4 Standards Standards NNPS cord-035342-sf0zld5z 454 5 ( ( -LRB- cord-035342-sf0zld5z 454 6 IAS IAS NNP cord-035342-sf0zld5z 454 7 ) ) -RRB- cord-035342-sf0zld5z 454 8 , , , cord-035342-sf0zld5z 454 9 firms firm NNS cord-035342-sf0zld5z 454 10 are be VBP cord-035342-sf0zld5z 454 11 able able JJ cord-035342-sf0zld5z 454 12 to to TO cord-035342-sf0zld5z 454 13 attract attract VB cord-035342-sf0zld5z 454 14 more more JJR cord-035342-sf0zld5z 454 15 foreign foreign JJ cord-035342-sf0zld5z 454 16 investors investor NNS cord-035342-sf0zld5z 454 17 , , , cord-035342-sf0zld5z 454 18 because because IN cord-035342-sf0zld5z 454 19 IAS IAS NNP cord-035342-sf0zld5z 454 20 contribute contribute VBP cord-035342-sf0zld5z 454 21 to to IN cord-035342-sf0zld5z 454 22 better well JJR cord-035342-sf0zld5z 454 23 and and CC cord-035342-sf0zld5z 454 24 more more RBR cord-035342-sf0zld5z 454 25 useful useful JJ cord-035342-sf0zld5z 454 26 information information NN cord-035342-sf0zld5z 454 27 for for IN cord-035342-sf0zld5z 454 28 those those DT cord-035342-sf0zld5z 454 29 foreign foreign JJ cord-035342-sf0zld5z 454 30 investors investor NNS cord-035342-sf0zld5z 454 31 . . . cord-035342-sf0zld5z 455 1 Therefore therefore RB cord-035342-sf0zld5z 455 2 , , , cord-035342-sf0zld5z 455 3 the the DT cord-035342-sf0zld5z 455 4 degree degree NN cord-035342-sf0zld5z 455 5 of of IN cord-035342-sf0zld5z 455 6 home home NN cord-035342-sf0zld5z 455 7 bias bias NN cord-035342-sf0zld5z 455 8 for for IN cord-035342-sf0zld5z 455 9 foreign foreign JJ cord-035342-sf0zld5z 455 10 investors investor NNS cord-035342-sf0zld5z 455 11 declines decline VBZ cord-035342-sf0zld5z 455 12 . . . cord-035342-sf0zld5z 456 1 For for IN cord-035342-sf0zld5z 456 2 firms firm NNS cord-035342-sf0zld5z 456 3 operating operate VBG cord-035342-sf0zld5z 456 4 in in IN cord-035342-sf0zld5z 456 5 a a DT cord-035342-sf0zld5z 456 6 poor poor JJ cord-035342-sf0zld5z 456 7 information information NN cord-035342-sf0zld5z 456 8 environment environment NN cord-035342-sf0zld5z 456 9 with with IN cord-035342-sf0zld5z 456 10 low low JJ cord-035342-sf0zld5z 456 11 visibility visibility NN cord-035342-sf0zld5z 456 12 the the DT cord-035342-sf0zld5z 456 13 impact impact NN cord-035342-sf0zld5z 456 14 is be VBZ cord-035342-sf0zld5z 456 15 even even RB cord-035342-sf0zld5z 456 16 higher high JJR cord-035342-sf0zld5z 456 17 . . . cord-035342-sf0zld5z 457 1 The the DT cord-035342-sf0zld5z 457 2 number number NN cord-035342-sf0zld5z 457 3 of of IN cord-035342-sf0zld5z 457 4 foreign foreign JJ cord-035342-sf0zld5z 457 5 investors investor NNS cord-035342-sf0zld5z 457 6 increases increase NNS cord-035342-sf0zld5z 457 7 ( ( -LRB- cord-035342-sf0zld5z 457 8 controlled control VBN cord-035342-sf0zld5z 457 9 for for IN cord-035342-sf0zld5z 457 10 other other JJ cord-035342-sf0zld5z 457 11 variables variable NNS cord-035342-sf0zld5z 457 12 ) ) -RRB- cord-035342-sf0zld5z 457 13 from from IN cord-035342-sf0zld5z 457 14 2 2 CD cord-035342-sf0zld5z 457 15 % % NN cord-035342-sf0zld5z 457 16 to to IN cord-035342-sf0zld5z 457 17 2.9 2.9 CD cord-035342-sf0zld5z 457 18 % % NN cord-035342-sf0zld5z 457 19 when when WRB cord-035342-sf0zld5z 457 20 adopting adopt VBG cord-035342-sf0zld5z 457 21 IAS IAS NNP cord-035342-sf0zld5z 457 22 compared compare VBN cord-035342-sf0zld5z 457 23 to to IN cord-035342-sf0zld5z 457 24 local local JJ cord-035342-sf0zld5z 457 25 accounting accounting NN cord-035342-sf0zld5z 457 26 standards standard NNS cord-035342-sf0zld5z 457 27 . . . cord-035342-sf0zld5z 458 1 A a DT cord-035342-sf0zld5z 458 2 higher high JJR cord-035342-sf0zld5z 458 3 level level NN cord-035342-sf0zld5z 458 4 of of IN cord-035342-sf0zld5z 458 5 corporate corporate JJ cord-035342-sf0zld5z 458 6 disclosure disclosure NN cord-035342-sf0zld5z 458 7 ( ( -LRB- cord-035342-sf0zld5z 458 8 resulting result VBG cord-035342-sf0zld5z 458 9 in in IN cord-035342-sf0zld5z 458 10 more more JJR cord-035342-sf0zld5z 458 11 information information NN cord-035342-sf0zld5z 458 12 for for IN cord-035342-sf0zld5z 458 13 potential potential JJ cord-035342-sf0zld5z 458 14 investors investor NNS cord-035342-sf0zld5z 458 15 ) ) -RRB- cord-035342-sf0zld5z 458 16 is be VBZ cord-035342-sf0zld5z 458 17 able able JJ cord-035342-sf0zld5z 458 18 to to TO cord-035342-sf0zld5z 458 19 reduce reduce VB cord-035342-sf0zld5z 458 20 home home NN cord-035342-sf0zld5z 458 21 bias bias NN cord-035342-sf0zld5z 458 22 ( ( -LRB- cord-035342-sf0zld5z 458 23 Eichler Eichler NNP cord-035342-sf0zld5z 458 24 2012 2012 CD cord-035342-sf0zld5z 458 25 ) ) -RRB- cord-035342-sf0zld5z 458 26 . . . cord-035342-sf0zld5z 459 1 Two two CD cord-035342-sf0zld5z 459 2 prerequisites prerequisite NNS cord-035342-sf0zld5z 459 3 make make VBP cord-035342-sf0zld5z 459 4 the the DT cord-035342-sf0zld5z 459 5 corporate corporate JJ cord-035342-sf0zld5z 459 6 disclosure disclosure NN cord-035342-sf0zld5z 459 7 efficient efficient JJ cord-035342-sf0zld5z 459 8 to to TO cord-035342-sf0zld5z 459 9 reduce reduce VB cord-035342-sf0zld5z 459 10 home home NN cord-035342-sf0zld5z 459 11 bias bias NN cord-035342-sf0zld5z 459 12 . . . cord-035342-sf0zld5z 460 1 On on IN cord-035342-sf0zld5z 460 2 the the DT cord-035342-sf0zld5z 460 3 one one CD cord-035342-sf0zld5z 460 4 hand hand NN cord-035342-sf0zld5z 460 5 , , , cord-035342-sf0zld5z 460 6 security security NN cord-035342-sf0zld5z 460 7 laws law NNS cord-035342-sf0zld5z 460 8 have have VBP cord-035342-sf0zld5z 460 9 to to TO cord-035342-sf0zld5z 460 10 make make VB cord-035342-sf0zld5z 460 11 the the DT cord-035342-sf0zld5z 460 12 statements statement NNS cord-035342-sf0zld5z 460 13 credible credible JJ cord-035342-sf0zld5z 460 14 and and CC cord-035342-sf0zld5z 460 15 reliable reliable JJ cord-035342-sf0zld5z 460 16 by by IN cord-035342-sf0zld5z 460 17 punishing punish VBG cord-035342-sf0zld5z 460 18 false false JJ cord-035342-sf0zld5z 460 19 information information NN cord-035342-sf0zld5z 460 20 . . . cord-035342-sf0zld5z 461 1 On on IN cord-035342-sf0zld5z 461 2 the the DT cord-035342-sf0zld5z 461 3 other other JJ cord-035342-sf0zld5z 461 4 hand hand NN cord-035342-sf0zld5z 461 5 , , , cord-035342-sf0zld5z 461 6 the the DT cord-035342-sf0zld5z 461 7 disclosure disclosure NN cord-035342-sf0zld5z 461 8 statements statement NNS cord-035342-sf0zld5z 461 9 have have VBP cord-035342-sf0zld5z 461 10 to to TO cord-035342-sf0zld5z 461 11 be be VB cord-035342-sf0zld5z 461 12 understandable understandable JJ cord-035342-sf0zld5z 461 13 for for IN cord-035342-sf0zld5z 461 14 the the DT cord-035342-sf0zld5z 461 15 investors investor NNS cord-035342-sf0zld5z 461 16 , , , cord-035342-sf0zld5z 461 17 i. i. NNP cord-035342-sf0zld5z 461 18 e. e. NNP cord-035342-sf0zld5z 462 1 the the DT cord-035342-sf0zld5z 462 2 investor investor NN cord-035342-sf0zld5z 462 3 can can MD cord-035342-sf0zld5z 462 4 interpret interpret VB cord-035342-sf0zld5z 462 5 them -PRON- PRP cord-035342-sf0zld5z 462 6 easily easily RB cord-035342-sf0zld5z 462 7 without without IN cord-035342-sf0zld5z 462 8 much much JJ cord-035342-sf0zld5z 462 9 incurred incur VBN cord-035342-sf0zld5z 462 10 additional additional JJ cord-035342-sf0zld5z 462 11 ' ' `` cord-035342-sf0zld5z 462 12 cost cost NN cord-035342-sf0zld5z 462 13 ' ' '' cord-035342-sf0zld5z 462 14 for for IN cord-035342-sf0zld5z 462 15 understanding understanding NN cord-035342-sf0zld5z 462 16 . . . cord-035342-sf0zld5z 463 1 In in IN cord-035342-sf0zld5z 463 2 contrast contrast NN cord-035342-sf0zld5z 463 3 to to IN cord-035342-sf0zld5z 463 4 the the DT cord-035342-sf0zld5z 463 5 above above RB cord-035342-sf0zld5z 463 6 - - HYPH cord-035342-sf0zld5z 463 7 mentioned mention VBN cord-035342-sf0zld5z 463 8 studies study NNS cord-035342-sf0zld5z 463 9 , , , cord-035342-sf0zld5z 463 10 which which WDT cord-035342-sf0zld5z 463 11 discussed discuss VBD cord-035342-sf0zld5z 463 12 the the DT cord-035342-sf0zld5z 463 13 regulatory regulatory JJ cord-035342-sf0zld5z 463 14 requirements requirement NNS cord-035342-sf0zld5z 463 15 for for IN cord-035342-sf0zld5z 463 16 accounting accounting NN cord-035342-sf0zld5z 463 17 standards standard NNS cord-035342-sf0zld5z 464 1 ( ( -LRB- cord-035342-sf0zld5z 464 2 Eichler Eichler NNP cord-035342-sf0zld5z 464 3 calls call VBZ cord-035342-sf0zld5z 464 4 this this DT cord-035342-sf0zld5z 464 5 corporate corporate JJ cord-035342-sf0zld5z 464 6 disclosure disclosure NN cord-035342-sf0zld5z 464 7 de de FW cord-035342-sf0zld5z 464 8 jure jure NNP cord-035342-sf0zld5z 464 9 , , , cord-035342-sf0zld5z 464 10 from from IN cord-035342-sf0zld5z 464 11 law law NN cord-035342-sf0zld5z 464 12 ) ) -RRB- cord-035342-sf0zld5z 464 13 , , , cord-035342-sf0zld5z 464 14 Eichler Eichler NNP cord-035342-sf0zld5z 464 15 ( ( -LRB- cord-035342-sf0zld5z 464 16 2012 2012 CD cord-035342-sf0zld5z 464 17 ) ) -RRB- cord-035342-sf0zld5z 464 18 shows show VBZ cord-035342-sf0zld5z 464 19 that that IN cord-035342-sf0zld5z 464 20 only only RB cord-035342-sf0zld5z 464 21 the the DT cord-035342-sf0zld5z 464 22 formal formal JJ cord-035342-sf0zld5z 464 23 regulatory regulatory JJ cord-035342-sf0zld5z 464 24 requirements requirement NNS cord-035342-sf0zld5z 464 25 have have VBP cord-035342-sf0zld5z 464 26 no no DT cord-035342-sf0zld5z 464 27 impact impact NN cord-035342-sf0zld5z 464 28 on on IN cord-035342-sf0zld5z 464 29 home home NN cord-035342-sf0zld5z 464 30 bias bias NN cord-035342-sf0zld5z 464 31 . . . cord-035342-sf0zld5z 465 1 For for IN cord-035342-sf0zld5z 465 2 the the DT cord-035342-sf0zld5z 465 3 investors investor NNS cord-035342-sf0zld5z 465 4 , , , cord-035342-sf0zld5z 465 5 it -PRON- PRP cord-035342-sf0zld5z 465 6 is be VBZ cord-035342-sf0zld5z 465 7 always always RB cord-035342-sf0zld5z 465 8 of of IN cord-035342-sf0zld5z 465 9 importance importance NN cord-035342-sf0zld5z 465 10 how how WRB cord-035342-sf0zld5z 465 11 they -PRON- PRP cord-035342-sf0zld5z 465 12 are be VBP cord-035342-sf0zld5z 465 13 applied apply VBN cord-035342-sf0zld5z 465 14 ( ( -LRB- cord-035342-sf0zld5z 465 15 the the DT cord-035342-sf0zld5z 465 16 corporate corporate JJ cord-035342-sf0zld5z 465 17 disclosure disclosure NN cord-035342-sf0zld5z 465 18 de de FW cord-035342-sf0zld5z 465 19 facto facto FW cord-035342-sf0zld5z 465 20 ) ) -RRB- cord-035342-sf0zld5z 465 21 , , , cord-035342-sf0zld5z 465 22 which which WDT cord-035342-sf0zld5z 465 23 means mean VBZ cord-035342-sf0zld5z 465 24 how how WRB cord-035342-sf0zld5z 465 25 a a DT cord-035342-sf0zld5z 465 26 specific specific JJ cord-035342-sf0zld5z 465 27 firm firm NN cord-035342-sf0zld5z 465 28 conducts conduct VBZ cord-035342-sf0zld5z 465 29 their -PRON- PRP$ cord-035342-sf0zld5z 465 30 accountings accounting NNS cord-035342-sf0zld5z 465 31 and and CC cord-035342-sf0zld5z 465 32 disclosure disclosure NN cord-035342-sf0zld5z 465 33 . . . cord-035342-sf0zld5z 466 1 But but CC cord-035342-sf0zld5z 466 2 the the DT cord-035342-sf0zld5z 466 3 actual actual JJ cord-035342-sf0zld5z 466 4 de de FW cord-035342-sf0zld5z 466 5 facto facto FW cord-035342-sf0zld5z 466 6 corporate corporate JJ cord-035342-sf0zld5z 466 7 disclosure disclosure NN cord-035342-sf0zld5z 466 8 is be VBZ cord-035342-sf0zld5z 466 9 normally normally RB cord-035342-sf0zld5z 466 10 highly highly RB cord-035342-sf0zld5z 466 11 dependent dependent JJ cord-035342-sf0zld5z 466 12 on on IN cord-035342-sf0zld5z 466 13 the the DT cord-035342-sf0zld5z 466 14 de de FW cord-035342-sf0zld5z 466 15 jure jure JJ cord-035342-sf0zld5z 466 16 regulatory regulatory JJ cord-035342-sf0zld5z 466 17 requirements requirement NNS cord-035342-sf0zld5z 466 18 for for IN cord-035342-sf0zld5z 466 19 accounting accounting NN cord-035342-sf0zld5z 466 20 . . . cord-035342-sf0zld5z 467 1 Slightly slightly RB cord-035342-sf0zld5z 467 2 different different JJ cord-035342-sf0zld5z 467 3 assumptions assumption NNS cord-035342-sf0zld5z 467 4 when when WRB cord-035342-sf0zld5z 467 5 calculating calculate VBG cord-035342-sf0zld5z 467 6 the the DT cord-035342-sf0zld5z 467 7 results result NNS cord-035342-sf0zld5z 467 8 and and CC cord-035342-sf0zld5z 467 9 impacts impact NNS cord-035342-sf0zld5z 467 10 may may MD cord-035342-sf0zld5z 467 11 lead lead VB cord-035342-sf0zld5z 467 12 to to IN cord-035342-sf0zld5z 467 13 such such JJ cord-035342-sf0zld5z 467 14 different different JJ cord-035342-sf0zld5z 467 15 results result NNS cord-035342-sf0zld5z 467 16 . . . cord-035342-sf0zld5z 468 1 An an DT cord-035342-sf0zld5z 468 2 investor investor NN cord-035342-sf0zld5z 468 3 who who WP cord-035342-sf0zld5z 468 4 is be VBZ cord-035342-sf0zld5z 468 5 familiar familiar JJ cord-035342-sf0zld5z 468 6 with with IN cord-035342-sf0zld5z 468 7 a a DT cord-035342-sf0zld5z 468 8 firm firm NN cord-035342-sf0zld5z 468 9 may may MD cord-035342-sf0zld5z 468 10 have have VB cord-035342-sf0zld5z 468 11 informational informational JJ cord-035342-sf0zld5z 468 12 advantages advantage NNS cord-035342-sf0zld5z 468 13 about about IN cord-035342-sf0zld5z 468 14 the the DT cord-035342-sf0zld5z 468 15 company company NN cord-035342-sf0zld5z 468 16 , , , cord-035342-sf0zld5z 468 17 so so CC cord-035342-sf0zld5z 468 18 familiarity familiarity NN cord-035342-sf0zld5z 468 19 is be VBZ cord-035342-sf0zld5z 468 20 in in IN cord-035342-sf0zld5z 468 21 some some DT cord-035342-sf0zld5z 468 22 cases case NNS cord-035342-sf0zld5z 468 23 highly highly RB cord-035342-sf0zld5z 468 24 related relate VBN cord-035342-sf0zld5z 468 25 to to IN cord-035342-sf0zld5z 468 26 information information NN cord-035342-sf0zld5z 468 27 asymmetries asymmetry NNS cord-035342-sf0zld5z 468 28 . . . cord-035342-sf0zld5z 469 1 This this DT cord-035342-sf0zld5z 469 2 so so RB cord-035342-sf0zld5z 469 3 - - HYPH cord-035342-sf0zld5z 469 4 called call VBN cord-035342-sf0zld5z 469 5 information information NN cord-035342-sf0zld5z 469 6 - - HYPH cord-035342-sf0zld5z 469 7 based base VBN cord-035342-sf0zld5z 469 8 familiarity familiarity NN cord-035342-sf0zld5z 469 9 should should MD cord-035342-sf0zld5z 469 10 not not RB cord-035342-sf0zld5z 469 11 be be VB cord-035342-sf0zld5z 469 12 confused confuse VBN cord-035342-sf0zld5z 469 13 with with IN cord-035342-sf0zld5z 469 14 behavioural behavioural JJ cord-035342-sf0zld5z 469 15 familiarity familiarity NN cord-035342-sf0zld5z 469 16 ( ( -LRB- cord-035342-sf0zld5z 469 17 Massa Massa NNP cord-035342-sf0zld5z 469 18 and and CC cord-035342-sf0zld5z 469 19 Simonov Simonov NNP cord-035342-sf0zld5z 469 20 2006 2006 CD cord-035342-sf0zld5z 469 21 ) ) -RRB- cord-035342-sf0zld5z 469 22 . . . cord-035342-sf0zld5z 470 1 Investors investor NNS cord-035342-sf0zld5z 470 2 are be VBP cord-035342-sf0zld5z 470 3 inclined incline VBN cord-035342-sf0zld5z 470 4 to to TO cord-035342-sf0zld5z 470 5 invest invest VB cord-035342-sf0zld5z 470 6 in in IN cord-035342-sf0zld5z 470 7 assets asset NNS cord-035342-sf0zld5z 470 8 which which WDT cord-035342-sf0zld5z 470 9 they -PRON- PRP cord-035342-sf0zld5z 470 10 are be VBP cord-035342-sf0zld5z 470 11 familiar familiar JJ cord-035342-sf0zld5z 470 12 with with IN cord-035342-sf0zld5z 470 13 . . . cord-035342-sf0zld5z 471 1 Massa Massa NNP cord-035342-sf0zld5z 471 2 and and CC cord-035342-sf0zld5z 471 3 Simonov Simonov NNP cord-035342-sf0zld5z 471 4 ( ( -LRB- cord-035342-sf0zld5z 471 5 2006 2006 CD cord-035342-sf0zld5z 471 6 ) ) -RRB- cord-035342-sf0zld5z 471 7 see see VBP cord-035342-sf0zld5z 471 8 familiarity familiarity NN cord-035342-sf0zld5z 471 9 to to IN cord-035342-sf0zld5z 471 10 stocks stock NNS cord-035342-sf0zld5z 471 11 in in IN cord-035342-sf0zld5z 471 12 the the DT cord-035342-sf0zld5z 471 13 meaning meaning NN cord-035342-sf0zld5z 471 14 of of IN cord-035342-sf0zld5z 471 15 geographically geographically RB cord-035342-sf0zld5z 471 16 and and CC cord-035342-sf0zld5z 471 17 professionally professionally RB cord-035342-sf0zld5z 471 18 close close JJ cord-035342-sf0zld5z 471 19 and and CC cord-035342-sf0zld5z 471 20 informationdriven informationdriven NNP cord-035342-sf0zld5z 471 21 . . . cord-035342-sf0zld5z 472 1 Bodnaruk Bodnaruk NNP cord-035342-sf0zld5z 472 2 ( ( -LRB- cord-035342-sf0zld5z 472 3 2009 2009 CD cord-035342-sf0zld5z 472 4 ) ) -RRB- cord-035342-sf0zld5z 472 5 supports support VBZ cord-035342-sf0zld5z 472 6 the the DT cord-035342-sf0zld5z 472 7 existence existence NN cord-035342-sf0zld5z 472 8 of of IN cord-035342-sf0zld5z 472 9 familiarity familiarity NN cord-035342-sf0zld5z 472 10 in in IN cord-035342-sf0zld5z 472 11 combination combination NN cord-035342-sf0zld5z 472 12 with with IN cord-035342-sf0zld5z 472 13 information information NN cord-035342-sf0zld5z 472 14 asymmetry asymmetry NN cord-035342-sf0zld5z 472 15 as as IN cord-035342-sf0zld5z 472 16 a a DT cord-035342-sf0zld5z 472 17 reason reason NN cord-035342-sf0zld5z 472 18 for for IN cord-035342-sf0zld5z 472 19 local local JJ cord-035342-sf0zld5z 472 20 bias bias NN cord-035342-sf0zld5z 472 21 . . . cord-035342-sf0zld5z 473 1 In in IN cord-035342-sf0zld5z 473 2 a a DT cord-035342-sf0zld5z 473 3 setting setting NN cord-035342-sf0zld5z 473 4 of of IN cord-035342-sf0zld5z 473 5 moving move VBG cord-035342-sf0zld5z 473 6 , , , cord-035342-sf0zld5z 473 7 the the DT cord-035342-sf0zld5z 473 8 evolution evolution NN cord-035342-sf0zld5z 473 9 of of IN cord-035342-sf0zld5z 473 10 familiarity familiarity NN cord-035342-sf0zld5z 473 11 can can MD cord-035342-sf0zld5z 473 12 be be VB cord-035342-sf0zld5z 473 13 observed observe VBN cord-035342-sf0zld5z 473 14 . . . cord-035342-sf0zld5z 474 1 Former former JJ cord-035342-sf0zld5z 474 2 ties tie NNS cord-035342-sf0zld5z 474 3 to to IN cord-035342-sf0zld5z 474 4 firms firm NNS cord-035342-sf0zld5z 474 5 get get VBP cord-035342-sf0zld5z 474 6 loose loose JJ cord-035342-sf0zld5z 474 7 and and CC cord-035342-sf0zld5z 474 8 new new JJ cord-035342-sf0zld5z 474 9 ties tie NNS cord-035342-sf0zld5z 474 10 and and CC cord-035342-sf0zld5z 474 11 familiar familiar JJ cord-035342-sf0zld5z 474 12 relations relation NNS cord-035342-sf0zld5z 474 13 are be VBP cord-035342-sf0zld5z 474 14 build build VB cord-035342-sf0zld5z 474 15 up up RP cord-035342-sf0zld5z 474 16 close close RB cord-035342-sf0zld5z 474 17 to to IN cord-035342-sf0zld5z 474 18 the the DT cord-035342-sf0zld5z 474 19 new new JJ cord-035342-sf0zld5z 474 20 residence residence NN cord-035342-sf0zld5z 474 21 ( ( -LRB- cord-035342-sf0zld5z 474 22 Bodnaruk Bodnaruk NNP cord-035342-sf0zld5z 474 23 2009 2009 CD cord-035342-sf0zld5z 474 24 ) ) -RRB- cord-035342-sf0zld5z 474 25 . . . cord-035342-sf0zld5z 475 1 The the DT cord-035342-sf0zld5z 475 2 evidence evidence NN cord-035342-sf0zld5z 475 3 found find VBD cord-035342-sf0zld5z 475 4 on on IN cord-035342-sf0zld5z 475 5 information information NN cord-035342-sf0zld5z 475 6 - - HYPH cord-035342-sf0zld5z 475 7 based base VBN cord-035342-sf0zld5z 475 8 familiarity familiarity NN cord-035342-sf0zld5z 475 9 is be VBZ cord-035342-sf0zld5z 475 10 limited limit VBN cord-035342-sf0zld5z 475 11 to to IN cord-035342-sf0zld5z 475 12 local local JJ cord-035342-sf0zld5z 475 13 bias bias NN cord-035342-sf0zld5z 475 14 and and CC cord-035342-sf0zld5z 475 15 both both DT cord-035342-sf0zld5z 475 16 studies study NNS cord-035342-sf0zld5z 475 17 are be VBP cord-035342-sf0zld5z 475 18 relying rely VBG cord-035342-sf0zld5z 475 19 on on IN cord-035342-sf0zld5z 475 20 the the DT cord-035342-sf0zld5z 475 21 same same JJ cord-035342-sf0zld5z 475 22 data datum NNS cord-035342-sf0zld5z 475 23 , , , cord-035342-sf0zld5z 475 24 i.e. i.e. FW cord-035342-sf0zld5z 475 25 Swedish swedish JJ cord-035342-sf0zld5z 475 26 data datum NNS cord-035342-sf0zld5z 475 27 and and CC cord-035342-sf0zld5z 475 28 investors investor NNS cord-035342-sf0zld5z 475 29 . . . cord-035342-sf0zld5z 476 1 Thus thus RB cord-035342-sf0zld5z 476 2 , , , cord-035342-sf0zld5z 476 3 the the DT cord-035342-sf0zld5z 476 4 explanatory explanatory JJ cord-035342-sf0zld5z 476 5 power power NN cord-035342-sf0zld5z 476 6 of of IN cord-035342-sf0zld5z 476 7 these these DT cord-035342-sf0zld5z 476 8 specific specific JJ cord-035342-sf0zld5z 476 9 findings finding NNS cord-035342-sf0zld5z 476 10 is be VBZ cord-035342-sf0zld5z 476 11 narrowed narrow VBN cord-035342-sf0zld5z 476 12 . . . cord-035342-sf0zld5z 477 1 However however RB cord-035342-sf0zld5z 477 2 , , , cord-035342-sf0zld5z 477 3 without without IN cord-035342-sf0zld5z 477 4 distinguishing distinguish VBG cord-035342-sf0zld5z 477 5 information information NN cord-035342-sf0zld5z 477 6 - - HYPH cord-035342-sf0zld5z 477 7 based base VBN cord-035342-sf0zld5z 477 8 familiarity familiarity NN cord-035342-sf0zld5z 477 9 and and CC cord-035342-sf0zld5z 477 10 general general JJ cord-035342-sf0zld5z 477 11 information information NN cord-035342-sf0zld5z 477 12 asymmetry asymmetry NN cord-035342-sf0zld5z 477 13 but but CC cord-035342-sf0zld5z 477 14 rather rather RB cord-035342-sf0zld5z 477 15 considering consider VBG cord-035342-sf0zld5z 477 16 information information NN cord-035342-sf0zld5z 477 17 - - HYPH cord-035342-sf0zld5z 477 18 based base VBN cord-035342-sf0zld5z 477 19 familiarity familiarity NN cord-035342-sf0zld5z 477 20 as as IN cord-035342-sf0zld5z 477 21 a a DT cord-035342-sf0zld5z 477 22 normal normal JJ cord-035342-sf0zld5z 477 23 informational informational JJ cord-035342-sf0zld5z 477 24 reason reason NN cord-035342-sf0zld5z 477 25 , , , cord-035342-sf0zld5z 477 26 the the DT cord-035342-sf0zld5z 477 27 evidence evidence NN cord-035342-sf0zld5z 477 28 on on IN cord-035342-sf0zld5z 477 29 information information NN cord-035342-sf0zld5z 477 30 - - HYPH cord-035342-sf0zld5z 477 31 based base VBN cord-035342-sf0zld5z 477 32 explanations explanation NNS cord-035342-sf0zld5z 477 33 for for IN cord-035342-sf0zld5z 477 34 home home NN cord-035342-sf0zld5z 477 35 and and CC cord-035342-sf0zld5z 477 36 local local JJ cord-035342-sf0zld5z 477 37 bias bias NN cord-035342-sf0zld5z 477 38 is be VBZ cord-035342-sf0zld5z 477 39 still still RB cord-035342-sf0zld5z 477 40 overwhelming overwhelming JJ cord-035342-sf0zld5z 477 41 . . . cord-035342-sf0zld5z 478 1 Behavioural behavioural JJ cord-035342-sf0zld5z 478 2 and and CC cord-035342-sf0zld5z 478 3 individual individual JJ cord-035342-sf0zld5z 478 4 reasons reason NNS cord-035342-sf0zld5z 478 5 are be VBP cord-035342-sf0zld5z 478 6 caused cause VBN cord-035342-sf0zld5z 478 7 by by IN cord-035342-sf0zld5z 478 8 human human NN cord-035342-sf0zld5z 478 9 's 's POS cord-035342-sf0zld5z 478 10 nature nature NN cord-035342-sf0zld5z 478 11 . . . cord-035342-sf0zld5z 479 1 Behavioural behavioural JJ cord-035342-sf0zld5z 479 2 reasons reason NNS cord-035342-sf0zld5z 479 3 are be VBP cord-035342-sf0zld5z 479 4 directly directly RB cord-035342-sf0zld5z 479 5 related relate VBN cord-035342-sf0zld5z 479 6 to to IN cord-035342-sf0zld5z 479 7 investors investor NNS cord-035342-sf0zld5z 479 8 ' ' POS cord-035342-sf0zld5z 479 9 beliefs belief NNS cord-035342-sf0zld5z 479 10 , , , cord-035342-sf0zld5z 479 11 perceptions perception NNS cord-035342-sf0zld5z 479 12 and and CC cord-035342-sf0zld5z 479 13 personality personality NN cord-035342-sf0zld5z 479 14 and and CC cord-035342-sf0zld5z 479 15 are be VBP cord-035342-sf0zld5z 479 16 normally normally RB cord-035342-sf0zld5z 479 17 uncorrelated uncorrelated JJ cord-035342-sf0zld5z 479 18 with with IN cord-035342-sf0zld5z 479 19 market market NN cord-035342-sf0zld5z 479 20 's 's POS cord-035342-sf0zld5z 479 21 development development NN cord-035342-sf0zld5z 479 22 . . . cord-035342-sf0zld5z 480 1 The the DT cord-035342-sf0zld5z 480 2 introduced introduce VBN cord-035342-sf0zld5z 480 3 behavioural behavioural JJ cord-035342-sf0zld5z 480 4 reasons reason NNS cord-035342-sf0zld5z 480 5 are be VBP cord-035342-sf0zld5z 480 6 optimism optimism NN cord-035342-sf0zld5z 480 7 , , , cord-035342-sf0zld5z 480 8 ambiguity ambiguity NN cord-035342-sf0zld5z 480 9 aversion aversion NN cord-035342-sf0zld5z 480 10 / / SYM cord-035342-sf0zld5z 480 11 competence competence NN cord-035342-sf0zld5z 480 12 / / SYM cord-035342-sf0zld5z 480 13 experience experience NN cord-035342-sf0zld5z 480 14 / / SYM cord-035342-sf0zld5z 480 15 financial financial JJ cord-035342-sf0zld5z 480 16 literacy literacy NN cord-035342-sf0zld5z 480 17 , , , cord-035342-sf0zld5z 480 18 pure pure JJ cord-035342-sf0zld5z 480 19 familiarity familiarity NN cord-035342-sf0zld5z 480 20 / / SYM cord-035342-sf0zld5z 480 21 patriotism patriotism NN cord-035342-sf0zld5z 480 22 / / SYM cord-035342-sf0zld5z 480 23 loyalty loyalty NN cord-035342-sf0zld5z 480 24 and and CC cord-035342-sf0zld5z 480 25 hedging hedging NN cord-035342-sf0zld5z 480 26 against against IN cord-035342-sf0zld5z 480 27 uncertainty uncertainty NN cord-035342-sf0zld5z 480 28 . . . cord-035342-sf0zld5z 481 1 These these DT cord-035342-sf0zld5z 481 2 reasons reason NNS cord-035342-sf0zld5z 481 3 for for IN cord-035342-sf0zld5z 481 4 home home NN cord-035342-sf0zld5z 481 5 and and CC cord-035342-sf0zld5z 481 6 local local JJ cord-035342-sf0zld5z 481 7 bias bias NN cord-035342-sf0zld5z 481 8 constitute constitute VBP cord-035342-sf0zld5z 481 9 , , , cord-035342-sf0zld5z 481 10 combined combine VBN cord-035342-sf0zld5z 481 11 with with IN cord-035342-sf0zld5z 481 12 the the DT cord-035342-sf0zld5z 481 13 informational informational JJ cord-035342-sf0zld5z 481 14 reasons reason NNS cord-035342-sf0zld5z 481 15 , , , cord-035342-sf0zld5z 481 16 the the DT cord-035342-sf0zld5z 481 17 major major JJ cord-035342-sf0zld5z 481 18 part part NN cord-035342-sf0zld5z 481 19 of of IN cord-035342-sf0zld5z 481 20 explanations explanation NNS cord-035342-sf0zld5z 481 21 . . . cord-035342-sf0zld5z 482 1 Investors investor NNS cord-035342-sf0zld5z 482 2 are be VBP cord-035342-sf0zld5z 482 3 , , , cord-035342-sf0zld5z 482 4 in in IN cord-035342-sf0zld5z 482 5 general general JJ cord-035342-sf0zld5z 482 6 , , , cord-035342-sf0zld5z 482 7 more more RBR cord-035342-sf0zld5z 482 8 optimistic optimistic JJ cord-035342-sf0zld5z 482 9 about about IN cord-035342-sf0zld5z 482 10 the the DT cord-035342-sf0zld5z 482 11 domestic domestic JJ cord-035342-sf0zld5z 482 12 market market NN cord-035342-sf0zld5z 482 13 and and CC cord-035342-sf0zld5z 482 14 systematically systematically RB cord-035342-sf0zld5z 482 15 assume assume VB cord-035342-sf0zld5z 482 16 higher high JJR cord-035342-sf0zld5z 482 17 expected expected JJ cord-035342-sf0zld5z 482 18 returns return NNS cord-035342-sf0zld5z 482 19 . . . cord-035342-sf0zld5z 483 1 This this DT cord-035342-sf0zld5z 483 2 perception perception NN cord-035342-sf0zld5z 483 3 results result VBZ cord-035342-sf0zld5z 483 4 in in IN cord-035342-sf0zld5z 483 5 biased biased JJ cord-035342-sf0zld5z 483 6 portfolio portfolio NN cord-035342-sf0zld5z 483 7 choices choice NNS cord-035342-sf0zld5z 483 8 , , , cord-035342-sf0zld5z 483 9 thus thus RB cord-035342-sf0zld5z 483 10 providing provide VBG cord-035342-sf0zld5z 483 11 an an DT cord-035342-sf0zld5z 483 12 explanation explanation NN cord-035342-sf0zld5z 483 13 for for IN cord-035342-sf0zld5z 483 14 home home NN cord-035342-sf0zld5z 483 15 and and CC cord-035342-sf0zld5z 483 16 local local JJ cord-035342-sf0zld5z 483 17 bias bias NN cord-035342-sf0zld5z 483 18 . . . cord-035342-sf0zld5z 484 1 First first RB cord-035342-sf0zld5z 484 2 , , , cord-035342-sf0zld5z 484 3 two two CD cord-035342-sf0zld5z 484 4 types type NNS cord-035342-sf0zld5z 484 5 of of IN cord-035342-sf0zld5z 484 6 optimism optimism NN cord-035342-sf0zld5z 484 7 , , , cord-035342-sf0zld5z 484 8 absolute absolute JJ cord-035342-sf0zld5z 484 9 optimism optimism NN cord-035342-sf0zld5z 484 10 and and CC cord-035342-sf0zld5z 484 11 relative relative JJ cord-035342-sf0zld5z 484 12 optimism optimism NN cord-035342-sf0zld5z 484 13 , , , cord-035342-sf0zld5z 484 14 have have VBP cord-035342-sf0zld5z 484 15 to to TO cord-035342-sf0zld5z 484 16 be be VB cord-035342-sf0zld5z 484 17 distinguished distinguish VBN cord-035342-sf0zld5z 484 18 . . . cord-035342-sf0zld5z 485 1 According accord VBG cord-035342-sf0zld5z 485 2 to to IN cord-035342-sf0zld5z 485 3 Strong Strong NNP cord-035342-sf0zld5z 485 4 and and CC cord-035342-sf0zld5z 485 5 Xu Xu NNP cord-035342-sf0zld5z 485 6 ( ( -LRB- cord-035342-sf0zld5z 485 7 2003 2003 CD cord-035342-sf0zld5z 485 8 , , , cord-035342-sf0zld5z 485 9 p. p. NN cord-035342-sf0zld5z 485 10 308 308 CD cord-035342-sf0zld5z 485 11 ) ) -RRB- cord-035342-sf0zld5z 485 12 , , , cord-035342-sf0zld5z 485 13 absolute absolute JJ cord-035342-sf0zld5z 485 14 optimism optimism NN cord-035342-sf0zld5z 485 15 " " '' cord-035342-sf0zld5z 485 16 occurs occur VBZ cord-035342-sf0zld5z 485 17 when when WRB cord-035342-sf0zld5z 485 18 investors investor NNS cord-035342-sf0zld5z 485 19 are be VBP cord-035342-sf0zld5z 485 20 more more RBR cord-035342-sf0zld5z 485 21 optimistic optimistic JJ cord-035342-sf0zld5z 485 22 about about IN cord-035342-sf0zld5z 485 23 their -PRON- PRP$ cord-035342-sf0zld5z 485 24 home home NN cord-035342-sf0zld5z 485 25 market market NN cord-035342-sf0zld5z 485 26 than than IN cord-035342-sf0zld5z 485 27 they -PRON- PRP cord-035342-sf0zld5z 485 28 are be VBP cord-035342-sf0zld5z 485 29 about about IN cord-035342-sf0zld5z 485 30 foreign foreign JJ cord-035342-sf0zld5z 485 31 " " `` cord-035342-sf0zld5z 485 32 whereas whereas IN cord-035342-sf0zld5z 485 33 " " '' cord-035342-sf0zld5z 485 34 relative relative JJ cord-035342-sf0zld5z 485 35 optimism optimism NN cord-035342-sf0zld5z 485 36 towards towards IN cord-035342-sf0zld5z 485 37 domestic domestic JJ cord-035342-sf0zld5z 485 38 equities equity NNS cord-035342-sf0zld5z 485 39 occurs occur VBZ cord-035342-sf0zld5z 485 40 when when WRB cord-035342-sf0zld5z 485 41 investors investor NNS cord-035342-sf0zld5z 485 42 are be VBP cord-035342-sf0zld5z 485 43 more more RBR cord-035342-sf0zld5z 485 44 optimistic optimistic JJ cord-035342-sf0zld5z 485 45 about about IN cord-035342-sf0zld5z 485 46 their -PRON- PRP$ cord-035342-sf0zld5z 485 47 home home NN cord-035342-sf0zld5z 485 48 market market NN cord-035342-sf0zld5z 485 49 than than IN cord-035342-sf0zld5z 485 50 are be VBP cord-035342-sf0zld5z 485 51 investors investor NNS cord-035342-sf0zld5z 485 52 from from IN cord-035342-sf0zld5z 485 53 other other JJ cord-035342-sf0zld5z 485 54 countries country NNS cord-035342-sf0zld5z 485 55 " " '' cord-035342-sf0zld5z 485 56 . . . cord-035342-sf0zld5z 486 1 Both both DT cord-035342-sf0zld5z 486 2 types type NNS cord-035342-sf0zld5z 486 3 of of IN cord-035342-sf0zld5z 486 4 optimism optimism NN cord-035342-sf0zld5z 486 5 contribute contribute VBP cord-035342-sf0zld5z 486 6 to to IN cord-035342-sf0zld5z 486 7 the the DT cord-035342-sf0zld5z 486 8 explanation explanation NN cord-035342-sf0zld5z 486 9 of of IN cord-035342-sf0zld5z 486 10 home home NN cord-035342-sf0zld5z 486 11 bias bias NN cord-035342-sf0zld5z 486 12 . . . cord-035342-sf0zld5z 487 1 French French NNP cord-035342-sf0zld5z 487 2 and and CC cord-035342-sf0zld5z 487 3 Poterba Poterba NNP cord-035342-sf0zld5z 487 4 ( ( -LRB- cord-035342-sf0zld5z 487 5 1991 1991 CD cord-035342-sf0zld5z 487 6 ) ) -RRB- cord-035342-sf0zld5z 487 7 already already RB cord-035342-sf0zld5z 487 8 suggest suggest VBP cord-035342-sf0zld5z 487 9 that that IN cord-035342-sf0zld5z 487 10 investors investor NNS cord-035342-sf0zld5z 487 11 systematically systematically RB cord-035342-sf0zld5z 487 12 are be VBP cord-035342-sf0zld5z 487 13 more more RBR cord-035342-sf0zld5z 487 14 optimistic optimistic JJ cord-035342-sf0zld5z 487 15 about about IN cord-035342-sf0zld5z 487 16 the the DT cord-035342-sf0zld5z 487 17 domestic domestic JJ cord-035342-sf0zld5z 487 18 market market NN cord-035342-sf0zld5z 487 19 . . . cord-035342-sf0zld5z 488 1 Shiller Shiller NNP cord-035342-sf0zld5z 488 2 et et NNP cord-035342-sf0zld5z 488 3 al al NNP cord-035342-sf0zld5z 488 4 . . . cord-035342-sf0zld5z 489 1 ( ( -LRB- cord-035342-sf0zld5z 489 2 1996 1996 CD cord-035342-sf0zld5z 489 3 ) ) -RRB- cord-035342-sf0zld5z 489 4 study study VB cord-035342-sf0zld5z 489 5 the the DT cord-035342-sf0zld5z 489 6 expectations expectation NNS cord-035342-sf0zld5z 489 7 , , , cord-035342-sf0zld5z 489 8 representing represent VBG cord-035342-sf0zld5z 489 9 the the DT cord-035342-sf0zld5z 489 10 degree degree NN cord-035342-sf0zld5z 489 11 of of IN cord-035342-sf0zld5z 489 12 optimism optimism NN cord-035342-sf0zld5z 489 13 , , , cord-035342-sf0zld5z 489 14 from from IN cord-035342-sf0zld5z 489 15 Japanese japanese JJ cord-035342-sf0zld5z 489 16 and and CC cord-035342-sf0zld5z 489 17 U.S. U.S. NNP cord-035342-sf0zld5z 489 18 investors investor NNS cord-035342-sf0zld5z 489 19 based base VBN cord-035342-sf0zld5z 489 20 on on IN cord-035342-sf0zld5z 489 21 empirical empirical JJ cord-035342-sf0zld5z 489 22 data datum NNS cord-035342-sf0zld5z 489 23 and and CC cord-035342-sf0zld5z 489 24 surveys survey NNS cord-035342-sf0zld5z 489 25 . . . cord-035342-sf0zld5z 490 1 The the DT cord-035342-sf0zld5z 490 2 answers answer NNS cord-035342-sf0zld5z 490 3 in in IN cord-035342-sf0zld5z 490 4 the the DT cord-035342-sf0zld5z 490 5 survey survey NN cord-035342-sf0zld5z 490 6 correlate correlate VBP cord-035342-sf0zld5z 490 7 , , , cord-035342-sf0zld5z 490 8 but but CC cord-035342-sf0zld5z 490 9 there there EX cord-035342-sf0zld5z 490 10 is be VBZ cord-035342-sf0zld5z 490 11 a a DT cord-035342-sf0zld5z 490 12 vast vast JJ cord-035342-sf0zld5z 490 13 difference difference NN cord-035342-sf0zld5z 490 14 in in IN cord-035342-sf0zld5z 490 15 the the DT cord-035342-sf0zld5z 490 16 actual actual JJ cord-035342-sf0zld5z 490 17 numbers number NNS cord-035342-sf0zld5z 490 18 . . . cord-035342-sf0zld5z 491 1 The the DT cord-035342-sf0zld5z 491 2 investors investor NNS cord-035342-sf0zld5z 491 3 always always RB cord-035342-sf0zld5z 491 4 exhibit exhibit VBP cord-035342-sf0zld5z 491 5 a a DT cord-035342-sf0zld5z 491 6 higher high JJR cord-035342-sf0zld5z 491 7 relative relative JJ cord-035342-sf0zld5z 491 8 optimism optimism NN cord-035342-sf0zld5z 491 9 for for IN cord-035342-sf0zld5z 491 10 their -PRON- PRP$ cord-035342-sf0zld5z 491 11 domestic domestic JJ cord-035342-sf0zld5z 491 12 market market NN cord-035342-sf0zld5z 491 13 which which WDT cord-035342-sf0zld5z 491 14 helps help VBZ cord-035342-sf0zld5z 491 15 explaining explain VBG cord-035342-sf0zld5z 491 16 home home NN cord-035342-sf0zld5z 491 17 bias bias NN cord-035342-sf0zld5z 491 18 . . . cord-035342-sf0zld5z 492 1 Shiller Shiller NNP cord-035342-sf0zld5z 492 2 et et NNP cord-035342-sf0zld5z 492 3 al al NNP cord-035342-sf0zld5z 492 4 . . . cord-035342-sf0zld5z 493 1 ( ( -LRB- cord-035342-sf0zld5z 493 2 1996 1996 CD cord-035342-sf0zld5z 493 3 ) ) -RRB- cord-035342-sf0zld5z 493 4 are be VBP cord-035342-sf0zld5z 493 5 aware aware JJ cord-035342-sf0zld5z 493 6 of of IN cord-035342-sf0zld5z 493 7 possible possible JJ cord-035342-sf0zld5z 493 8 information information NN cord-035342-sf0zld5z 493 9 asymmetries asymmetry NNS cord-035342-sf0zld5z 493 10 , , , cord-035342-sf0zld5z 493 11 but but CC cord-035342-sf0zld5z 493 12 assume assume VBP cord-035342-sf0zld5z 493 13 that that IN cord-035342-sf0zld5z 493 14 both both DT cord-035342-sf0zld5z 493 15 investors investor NNS cord-035342-sf0zld5z 493 16 have have VBP cord-035342-sf0zld5z 493 17 nearly nearly RB cord-035342-sf0zld5z 493 18 equivalent equivalent JJ cord-035342-sf0zld5z 493 19 information information NN cord-035342-sf0zld5z 493 20 . . . cord-035342-sf0zld5z 494 1 In in IN cord-035342-sf0zld5z 494 2 a a DT cord-035342-sf0zld5z 494 3 model model NN cord-035342-sf0zld5z 494 4 with with IN cord-035342-sf0zld5z 494 5 a a DT cord-035342-sf0zld5z 494 6 standard standard JJ cord-035342-sf0zld5z 494 7 Bayesian bayesian JJ cord-035342-sf0zld5z 494 8 approach approach NN cord-035342-sf0zld5z 494 9 , , , cord-035342-sf0zld5z 494 10 higher high JJR cord-035342-sf0zld5z 494 11 expectations expectation NNS cord-035342-sf0zld5z 494 12 of of IN cord-035342-sf0zld5z 494 13 investors investor NNS cord-035342-sf0zld5z 494 14 for for IN cord-035342-sf0zld5z 494 15 the the DT cord-035342-sf0zld5z 494 16 domestic domestic JJ cord-035342-sf0zld5z 494 17 market market NN cord-035342-sf0zld5z 494 18 are be VBP cord-035342-sf0zld5z 494 19 confirmed confirm VBN cord-035342-sf0zld5z 494 20 ( ( -LRB- cord-035342-sf0zld5z 494 21 Pástor Pástor NNP cord-035342-sf0zld5z 494 22 2000 2000 CD cord-035342-sf0zld5z 494 23 ) ) -RRB- cord-035342-sf0zld5z 494 24 . . . cord-035342-sf0zld5z 495 1 Prior prior JJ cord-035342-sf0zld5z 495 2 beliefs belief NNS cord-035342-sf0zld5z 495 3 are be VBP cord-035342-sf0zld5z 495 4 incorporated incorporate VBN cord-035342-sf0zld5z 495 5 in in IN cord-035342-sf0zld5z 495 6 the the DT cord-035342-sf0zld5z 495 7 model model NN cord-035342-sf0zld5z 495 8 . . . cord-035342-sf0zld5z 496 1 Therefore therefore RB cord-035342-sf0zld5z 496 2 , , , cord-035342-sf0zld5z 496 3 it -PRON- PRP cord-035342-sf0zld5z 496 4 is be VBZ cord-035342-sf0zld5z 496 5 possible possible JJ cord-035342-sf0zld5z 496 6 to to TO cord-035342-sf0zld5z 496 7 be be VB cord-035342-sf0zld5z 496 8 free free JJ cord-035342-sf0zld5z 496 9 from from IN cord-035342-sf0zld5z 496 10 the the DT cord-035342-sf0zld5z 496 11 two two CD cord-035342-sf0zld5z 496 12 disputing dispute VBG cord-035342-sf0zld5z 496 13 approaches approach NNS cord-035342-sf0zld5z 496 14 : : : cord-035342-sf0zld5z 496 15 relying rely VBG cord-035342-sf0zld5z 496 16 fully fully RB cord-035342-sf0zld5z 496 17 on on IN cord-035342-sf0zld5z 496 18 standard standard JJ cord-035342-sf0zld5z 496 19 asset asset NN cord-035342-sf0zld5z 496 20 pricing pricing NN cord-035342-sf0zld5z 496 21 models model NNS cord-035342-sf0zld5z 496 22 or or CC cord-035342-sf0zld5z 496 23 not not RB cord-035342-sf0zld5z 496 24 believing believe VBG cord-035342-sf0zld5z 496 25 these these DT cord-035342-sf0zld5z 496 26 models model NNS cord-035342-sf0zld5z 496 27 at at RB cord-035342-sf0zld5z 496 28 all all DT cord-035342-sf0zld5z 496 29 ( ( -LRB- cord-035342-sf0zld5z 496 30 just just RB cord-035342-sf0zld5z 496 31 relying rely VBG cord-035342-sf0zld5z 496 32 on on IN cord-035342-sf0zld5z 496 33 data datum NNS cord-035342-sf0zld5z 496 34 ) ) -RRB- cord-035342-sf0zld5z 496 35 . . . cord-035342-sf0zld5z 497 1 Concluding conclude VBG cord-035342-sf0zld5z 497 2 from from IN cord-035342-sf0zld5z 497 3 the the DT cord-035342-sf0zld5z 497 4 model model NN cord-035342-sf0zld5z 497 5 , , , cord-035342-sf0zld5z 497 6 home home NN cord-035342-sf0zld5z 497 7 bias bias NN cord-035342-sf0zld5z 497 8 can can MD cord-035342-sf0zld5z 497 9 be be VB cord-035342-sf0zld5z 497 10 justified justify VBN cord-035342-sf0zld5z 497 11 for for IN cord-035342-sf0zld5z 497 12 U.S. U.S. NNP cord-035342-sf0zld5z 497 13 investors investor NNS cord-035342-sf0zld5z 497 14 when when WRB cord-035342-sf0zld5z 497 15 the the DT cord-035342-sf0zld5z 497 16 prior prior JJ cord-035342-sf0zld5z 497 17 beliefs belief NNS cord-035342-sf0zld5z 497 18 are be VBP cord-035342-sf0zld5z 497 19 stable stable JJ cord-035342-sf0zld5z 497 20 in in IN cord-035342-sf0zld5z 497 21 reality reality NN cord-035342-sf0zld5z 497 22 . . . cord-035342-sf0zld5z 498 1 Though Though NNP cord-035342-sf0zld5z 498 2 , , , cord-035342-sf0zld5z 498 3 Pástor Pástor NNP cord-035342-sf0zld5z 498 4 ( ( -LRB- cord-035342-sf0zld5z 498 5 2000 2000 CD cord-035342-sf0zld5z 498 6 ) ) -RRB- cord-035342-sf0zld5z 498 7 gives give VBZ cord-035342-sf0zld5z 498 8 no no DT cord-035342-sf0zld5z 498 9 empirical empirical JJ cord-035342-sf0zld5z 498 10 evidence evidence NN cord-035342-sf0zld5z 498 11 of of IN cord-035342-sf0zld5z 498 12 his -PRON- PRP$ cord-035342-sf0zld5z 498 13 conclusion conclusion NN cord-035342-sf0zld5z 498 14 . . . cord-035342-sf0zld5z 499 1 Li Li NNP cord-035342-sf0zld5z 499 2 ( ( -LRB- cord-035342-sf0zld5z 499 3 2004 2004 CD cord-035342-sf0zld5z 499 4 ) ) -RRB- cord-035342-sf0zld5z 499 5 puts put VBZ cord-035342-sf0zld5z 499 6 empirical empirical JJ cord-035342-sf0zld5z 499 7 evidence evidence NN cord-035342-sf0zld5z 499 8 on on IN cord-035342-sf0zld5z 499 9 the the DT cord-035342-sf0zld5z 499 10 model model NN cord-035342-sf0zld5z 499 11 of of IN cord-035342-sf0zld5z 499 12 Pástor Pástor NNP cord-035342-sf0zld5z 499 13 ( ( -LRB- cord-035342-sf0zld5z 499 14 2000 2000 CD cord-035342-sf0zld5z 499 15 ) ) -RRB- cord-035342-sf0zld5z 499 16 setting set VBG cord-035342-sf0zld5z 499 17 the the DT cord-035342-sf0zld5z 499 18 parameters parameter NNS cord-035342-sf0zld5z 499 19 of of IN cord-035342-sf0zld5z 499 20 prior prior JJ cord-035342-sf0zld5z 499 21 beliefs belief NNS cord-035342-sf0zld5z 499 22 consistent consistent JJ cord-035342-sf0zld5z 499 23 with with IN cord-035342-sf0zld5z 499 24 existing exist VBG cord-035342-sf0zld5z 499 25 literature literature NN cord-035342-sf0zld5z 499 26 . . . cord-035342-sf0zld5z 500 1 In in IN cord-035342-sf0zld5z 500 2 this this DT cord-035342-sf0zld5z 500 3 framework framework NN cord-035342-sf0zld5z 500 4 , , , cord-035342-sf0zld5z 500 5 when when WRB cord-035342-sf0zld5z 500 6 computed compute VBN cord-035342-sf0zld5z 500 7 with with IN cord-035342-sf0zld5z 500 8 actual actual JJ cord-035342-sf0zld5z 500 9 G7 G7 NNP cord-035342-sf0zld5z 500 10 data datum NNS cord-035342-sf0zld5z 500 11 , , , cord-035342-sf0zld5z 500 12 Li Li NNP cord-035342-sf0zld5z 500 13 ( ( -LRB- cord-035342-sf0zld5z 500 14 2004 2004 CD cord-035342-sf0zld5z 500 15 ) ) -RRB- cord-035342-sf0zld5z 500 16 supports support VBZ cord-035342-sf0zld5z 500 17 the the DT cord-035342-sf0zld5z 500 18 hypothesis hypothesis NN cord-035342-sf0zld5z 500 19 of of IN cord-035342-sf0zld5z 500 20 Pástor Pástor NNP cord-035342-sf0zld5z 500 21 ( ( -LRB- cord-035342-sf0zld5z 500 22 2000 2000 CD cord-035342-sf0zld5z 500 23 ) ) -RRB- cord-035342-sf0zld5z 500 24 . . . cord-035342-sf0zld5z 501 1 Investors investor NNS cord-035342-sf0zld5z 501 2 consider consider VBP cord-035342-sf0zld5z 501 3 foreign foreign JJ cord-035342-sf0zld5z 501 4 investments investment NNS cord-035342-sf0zld5z 501 5 much much RB cord-035342-sf0zld5z 501 6 riskier risky JJR cord-035342-sf0zld5z 501 7 , , , cord-035342-sf0zld5z 501 8 resulting result VBG cord-035342-sf0zld5z 501 9 in in IN cord-035342-sf0zld5z 501 10 a a DT cord-035342-sf0zld5z 501 11 higher high JJR cord-035342-sf0zld5z 501 12 expectation expectation NN cord-035342-sf0zld5z 501 13 and and CC cord-035342-sf0zld5z 501 14 a a DT cord-035342-sf0zld5z 501 15 higher high JJR cord-035342-sf0zld5z 501 16 optimism optimism NN cord-035342-sf0zld5z 501 17 for for IN cord-035342-sf0zld5z 501 18 the the DT cord-035342-sf0zld5z 501 19 domestic domestic JJ cord-035342-sf0zld5z 501 20 market market NN cord-035342-sf0zld5z 501 21 . . . cord-035342-sf0zld5z 502 1 Based base VBN cord-035342-sf0zld5z 502 2 on on IN cord-035342-sf0zld5z 502 3 a a DT cord-035342-sf0zld5z 502 4 survey survey NN cord-035342-sf0zld5z 502 5 of of IN cord-035342-sf0zld5z 502 6 fund fund NN cord-035342-sf0zld5z 502 7 managers manager NNS cord-035342-sf0zld5z 502 8 , , , cord-035342-sf0zld5z 502 9 there there EX cord-035342-sf0zld5z 502 10 is be VBZ cord-035342-sf0zld5z 502 11 further further JJ cord-035342-sf0zld5z 502 12 and and CC cord-035342-sf0zld5z 502 13 more more RBR cord-035342-sf0zld5z 502 14 comprehensive comprehensive JJ cord-035342-sf0zld5z 502 15 evidence evidence NN cord-035342-sf0zld5z 502 16 on on IN cord-035342-sf0zld5z 502 17 differences difference NNS cord-035342-sf0zld5z 502 18 in in IN cord-035342-sf0zld5z 502 19 optimism optimism NN cord-035342-sf0zld5z 502 20 as as IN cord-035342-sf0zld5z 502 21 an an DT cord-035342-sf0zld5z 502 22 explanation explanation NN cord-035342-sf0zld5z 502 23 for for IN cord-035342-sf0zld5z 502 24 home home NN cord-035342-sf0zld5z 502 25 bias bias NN cord-035342-sf0zld5z 502 26 . . . cord-035342-sf0zld5z 503 1 The the DT cord-035342-sf0zld5z 503 2 fund fund NN cord-035342-sf0zld5z 503 3 managers manager NNS cord-035342-sf0zld5z 503 4 surveyed survey VBD cord-035342-sf0zld5z 503 5 exhibit exhibit VBP cord-035342-sf0zld5z 503 6 a a DT cord-035342-sf0zld5z 503 7 higher high JJR cord-035342-sf0zld5z 503 8 relative relative JJ cord-035342-sf0zld5z 503 9 optimism optimism NN cord-035342-sf0zld5z 503 10 towards towards IN cord-035342-sf0zld5z 503 11 the the DT cord-035342-sf0zld5z 503 12 domestic domestic JJ cord-035342-sf0zld5z 503 13 markets market NNS cord-035342-sf0zld5z 503 14 ( ( -LRB- cord-035342-sf0zld5z 503 15 Strong strong JJ cord-035342-sf0zld5z 503 16 and and CC cord-035342-sf0zld5z 503 17 Xu Xu NNP cord-035342-sf0zld5z 503 18 2003 2003 CD cord-035342-sf0zld5z 503 19 ) ) -RRB- cord-035342-sf0zld5z 503 20 . . . cord-035342-sf0zld5z 504 1 The the DT cord-035342-sf0zld5z 504 2 evidence evidence NN cord-035342-sf0zld5z 504 3 on on IN cord-035342-sf0zld5z 504 4 absolute absolute JJ cord-035342-sf0zld5z 504 5 optimism optimism NN cord-035342-sf0zld5z 504 6 is be VBZ cord-035342-sf0zld5z 504 7 not not RB cord-035342-sf0zld5z 504 8 directly directly RB cord-035342-sf0zld5z 504 9 supporting support VBG cord-035342-sf0zld5z 504 10 home home NN cord-035342-sf0zld5z 504 11 bias bias NN cord-035342-sf0zld5z 504 12 . . . cord-035342-sf0zld5z 505 1 Only only RB cord-035342-sf0zld5z 505 2 for for IN cord-035342-sf0zld5z 505 3 European european JJ cord-035342-sf0zld5z 505 4 and and CC cord-035342-sf0zld5z 505 5 Japanese japanese JJ cord-035342-sf0zld5z 505 6 fund fund NN cord-035342-sf0zld5z 505 7 managers manager NNS cord-035342-sf0zld5z 505 8 , , , cord-035342-sf0zld5z 505 9 an an DT cord-035342-sf0zld5z 505 10 absolute absolute JJ cord-035342-sf0zld5z 505 11 optimism optimism NN cord-035342-sf0zld5z 505 12 can can MD cord-035342-sf0zld5z 505 13 be be VB cord-035342-sf0zld5z 505 14 found find VBN cord-035342-sf0zld5z 505 15 , , , cord-035342-sf0zld5z 505 16 hence hence RB cord-035342-sf0zld5z 505 17 explaining explain VBG cord-035342-sf0zld5z 505 18 home home NN cord-035342-sf0zld5z 505 19 bias bias NN cord-035342-sf0zld5z 505 20 . . . cord-035342-sf0zld5z 506 1 However however RB cord-035342-sf0zld5z 506 2 , , , cord-035342-sf0zld5z 506 3 according accord VBG cord-035342-sf0zld5z 506 4 to to IN cord-035342-sf0zld5z 506 5 Strong Strong NNP cord-035342-sf0zld5z 506 6 and and CC cord-035342-sf0zld5z 506 7 Xu Xu NNP cord-035342-sf0zld5z 506 8 ( ( -LRB- cord-035342-sf0zld5z 506 9 2003 2003 CD cord-035342-sf0zld5z 506 10 ) ) -RRB- cord-035342-sf0zld5z 506 11 , , , cord-035342-sf0zld5z 506 12 the the DT cord-035342-sf0zld5z 506 13 absolute absolute JJ cord-035342-sf0zld5z 506 14 optimism optimism NN cord-035342-sf0zld5z 506 15 findings finding NNS cord-035342-sf0zld5z 506 16 are be VBP cord-035342-sf0zld5z 506 17 subject subject JJ cord-035342-sf0zld5z 506 18 to to IN cord-035342-sf0zld5z 506 19 the the DT cord-035342-sf0zld5z 506 20 studied study VBN cord-035342-sf0zld5z 506 21 time time NN cord-035342-sf0zld5z 506 22 period period NN cord-035342-sf0zld5z 506 23 . . . cord-035342-sf0zld5z 507 1 In in IN cord-035342-sf0zld5z 507 2 summary summary NN cord-035342-sf0zld5z 507 3 , , , cord-035342-sf0zld5z 507 4 fund fund NN cord-035342-sf0zld5z 507 5 managers manager NNS cord-035342-sf0zld5z 507 6 have have VBP cord-035342-sf0zld5z 507 7 " " `` cord-035342-sf0zld5z 507 8 a a DT cord-035342-sf0zld5z 507 9 bias bias NN cord-035342-sf0zld5z 507 10 towards towards IN cord-035342-sf0zld5z 507 11 domestic domestic JJ cord-035342-sf0zld5z 507 12 equities equity NNS cord-035342-sf0zld5z 507 13 and and CC cord-035342-sf0zld5z 507 14 a a DT cord-035342-sf0zld5z 507 15 relative relative JJ cord-035342-sf0zld5z 507 16 bias bias NN cord-035342-sf0zld5z 507 17 against against IN cord-035342-sf0zld5z 507 18 foreign foreign JJ cord-035342-sf0zld5z 507 19 equities equity NNS cord-035342-sf0zld5z 507 20 " " '' cord-035342-sf0zld5z 508 1 ( ( -LRB- cord-035342-sf0zld5z 508 2 Strong strong JJ cord-035342-sf0zld5z 508 3 and and CC cord-035342-sf0zld5z 508 4 Xu Xu NNP cord-035342-sf0zld5z 508 5 2003 2003 CD cord-035342-sf0zld5z 508 6 , , , cord-035342-sf0zld5z 508 7 p. p. NN cord-035342-sf0zld5z 508 8 312 312 CD cord-035342-sf0zld5z 508 9 ) ) -RRB- cord-035342-sf0zld5z 508 10 . . . cord-035342-sf0zld5z 509 1 The the DT cord-035342-sf0zld5z 509 2 result result NN cord-035342-sf0zld5z 509 3 that that IN cord-035342-sf0zld5z 509 4 relative relative JJ cord-035342-sf0zld5z 509 5 optimism optimism NN cord-035342-sf0zld5z 509 6 has have VBZ cord-035342-sf0zld5z 509 7 a a DT cord-035342-sf0zld5z 509 8 positive positive JJ cord-035342-sf0zld5z 509 9 relation relation NN cord-035342-sf0zld5z 509 10 to to IN cord-035342-sf0zld5z 509 11 home home NN cord-035342-sf0zld5z 509 12 bias bias NN cord-035342-sf0zld5z 509 13 in in IN cord-035342-sf0zld5z 509 14 portfolio portfolio NN cord-035342-sf0zld5z 509 15 holdings holding NNS cord-035342-sf0zld5z 509 16 of of IN cord-035342-sf0zld5z 509 17 equity equity NN cord-035342-sf0zld5z 509 18 and and CC cord-035342-sf0zld5z 509 19 bonds bond NNS cord-035342-sf0zld5z 509 20 is be VBZ cord-035342-sf0zld5z 509 21 confirmed confirm VBN cord-035342-sf0zld5z 509 22 by by IN cord-035342-sf0zld5z 509 23 Solnik Solnik NNP cord-035342-sf0zld5z 509 24 and and CC cord-035342-sf0zld5z 509 25 Zuo Zuo NNP cord-035342-sf0zld5z 509 26 ( ( -LRB- cord-035342-sf0zld5z 509 27 2016 2016 CD cord-035342-sf0zld5z 509 28 ) ) -RRB- cord-035342-sf0zld5z 509 29 . . . cord-035342-sf0zld5z 510 1 They -PRON- PRP cord-035342-sf0zld5z 510 2 are be VBP cord-035342-sf0zld5z 510 3 the the DT cord-035342-sf0zld5z 510 4 first first JJ cord-035342-sf0zld5z 510 5 to to TO cord-035342-sf0zld5z 510 6 give give VB cord-035342-sf0zld5z 510 7 evidence evidence NN cord-035342-sf0zld5z 510 8 on on IN cord-035342-sf0zld5z 510 9 a a DT cord-035342-sf0zld5z 510 10 broader broad JJR cord-035342-sf0zld5z 510 11 time time NN cord-035342-sf0zld5z 510 12 span span NN cord-035342-sf0zld5z 510 13 which which WDT cord-035342-sf0zld5z 510 14 is be VBZ cord-035342-sf0zld5z 510 15 independent independent JJ cord-035342-sf0zld5z 510 16 of of IN cord-035342-sf0zld5z 510 17 market market NN cord-035342-sf0zld5z 510 18 phases phase NNS cord-035342-sf0zld5z 510 19 ( ( -LRB- cord-035342-sf0zld5z 510 20 bull bull NN cord-035342-sf0zld5z 510 21 , , , cord-035342-sf0zld5z 510 22 bear bear NN cord-035342-sf0zld5z 510 23 , , , cord-035342-sf0zld5z 510 24 market market NN cord-035342-sf0zld5z 510 25 crash crash NN cord-035342-sf0zld5z 510 26 ) ) -RRB- cord-035342-sf0zld5z 510 27 . . . cord-035342-sf0zld5z 511 1 For for IN cord-035342-sf0zld5z 511 2 specifically specifically RB cord-035342-sf0zld5z 511 3 German german JJ cord-035342-sf0zld5z 511 4 equity equity NN cord-035342-sf0zld5z 511 5 fund fund NN cord-035342-sf0zld5z 511 6 managers manager NNS cord-035342-sf0zld5z 511 7 , , , cord-035342-sf0zld5z 511 8 a a DT cord-035342-sf0zld5z 511 9 relative relative JJ cord-035342-sf0zld5z 511 10 return return NN cord-035342-sf0zld5z 511 11 optimism optimism NN cord-035342-sf0zld5z 511 12 for for IN cord-035342-sf0zld5z 511 13 domestic domestic JJ cord-035342-sf0zld5z 511 14 securities security NNS cord-035342-sf0zld5z 511 15 leading lead VBG cord-035342-sf0zld5z 511 16 to to IN cord-035342-sf0zld5z 511 17 home home NN cord-035342-sf0zld5z 511 18 bias bias NN cord-035342-sf0zld5z 511 19 towards towards IN cord-035342-sf0zld5z 511 20 German german JJ cord-035342-sf0zld5z 511 21 investments investment NNS cord-035342-sf0zld5z 511 22 can can MD cord-035342-sf0zld5z 511 23 be be VB cord-035342-sf0zld5z 511 24 found find VBN cord-035342-sf0zld5z 511 25 ( ( -LRB- cord-035342-sf0zld5z 511 26 Lütje Lütje NNP cord-035342-sf0zld5z 511 27 and and CC cord-035342-sf0zld5z 511 28 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 511 29 2007 2007 CD cord-035342-sf0zld5z 511 30 ) ) -RRB- cord-035342-sf0zld5z 511 31 . . . cord-035342-sf0zld5z 512 1 Lai Lai NNP cord-035342-sf0zld5z 512 2 and and CC cord-035342-sf0zld5z 512 3 Teo Teo NNP cord-035342-sf0zld5z 512 4 ( ( -LRB- cord-035342-sf0zld5z 512 5 2008 2008 CD cord-035342-sf0zld5z 512 6 ) ) -RRB- cord-035342-sf0zld5z 512 7 discover discover VBP cord-035342-sf0zld5z 512 8 that that IN cord-035342-sf0zld5z 512 9 local local JJ cord-035342-sf0zld5z 512 10 analysts analyst NNS cord-035342-sf0zld5z 512 11 of of IN cord-035342-sf0zld5z 512 12 eight eight CD cord-035342-sf0zld5z 512 13 Asian asian JJ cord-035342-sf0zld5z 512 14 emerging emerge VBG cord-035342-sf0zld5z 512 15 countries country NNS cord-035342-sf0zld5z 512 16 are be VBP cord-035342-sf0zld5z 512 17 more more RBR cord-035342-sf0zld5z 512 18 optimistic optimistic JJ cord-035342-sf0zld5z 512 19 about about IN cord-035342-sf0zld5z 512 20 the the DT cord-035342-sf0zld5z 512 21 domestic domestic JJ cord-035342-sf0zld5z 512 22 market market NN cord-035342-sf0zld5z 512 23 than than IN cord-035342-sf0zld5z 512 24 recommendations recommendation NNS cord-035342-sf0zld5z 512 25 from from IN cord-035342-sf0zld5z 512 26 foreign foreign JJ cord-035342-sf0zld5z 512 27 analysts analyst NNS cord-035342-sf0zld5z 512 28 . . . cord-035342-sf0zld5z 513 1 If if IN cord-035342-sf0zld5z 513 2 potential potential JJ cord-035342-sf0zld5z 513 3 investors investor NNS cord-035342-sf0zld5z 513 4 base base VBP cord-035342-sf0zld5z 513 5 their -PRON- PRP$ cord-035342-sf0zld5z 513 6 investment investment NN cord-035342-sf0zld5z 513 7 decision decision NN cord-035342-sf0zld5z 513 8 upon upon IN cord-035342-sf0zld5z 513 9 the the DT cord-035342-sf0zld5z 513 10 recommendations recommendation NNS cord-035342-sf0zld5z 513 11 of of IN cord-035342-sf0zld5z 513 12 local local JJ cord-035342-sf0zld5z 513 13 analysts analyst NNS cord-035342-sf0zld5z 513 14 , , , cord-035342-sf0zld5z 513 15 this this DT cord-035342-sf0zld5z 513 16 finding finding NN cord-035342-sf0zld5z 513 17 can can MD cord-035342-sf0zld5z 513 18 explain explain VB cord-035342-sf0zld5z 513 19 home home NN cord-035342-sf0zld5z 513 20 bias bias NN cord-035342-sf0zld5z 513 21 . . . cord-035342-sf0zld5z 514 1 As as IN cord-035342-sf0zld5z 514 2 a a DT cord-035342-sf0zld5z 514 3 result result NN cord-035342-sf0zld5z 514 4 , , , cord-035342-sf0zld5z 514 5 there there EX cord-035342-sf0zld5z 514 6 is be VBZ cord-035342-sf0zld5z 514 7 much much JJ cord-035342-sf0zld5z 514 8 evidence evidence NN cord-035342-sf0zld5z 514 9 of of IN cord-035342-sf0zld5z 514 10 relative relative JJ cord-035342-sf0zld5z 514 11 optimism optimism NN cord-035342-sf0zld5z 514 12 for for IN cord-035342-sf0zld5z 514 13 numerous numerous JJ cord-035342-sf0zld5z 514 14 investors investor NNS cord-035342-sf0zld5z 514 15 ' ' POS cord-035342-sf0zld5z 514 16 countries country NNS cord-035342-sf0zld5z 514 17 . . . cord-035342-sf0zld5z 515 1 However however RB cord-035342-sf0zld5z 515 2 , , , cord-035342-sf0zld5z 515 3 the the DT cord-035342-sf0zld5z 515 4 studies study NNS cord-035342-sf0zld5z 515 5 on on IN cord-035342-sf0zld5z 515 6 absolute absolute JJ cord-035342-sf0zld5z 515 7 optimism optimism NN cord-035342-sf0zld5z 515 8 are be VBP cord-035342-sf0zld5z 515 9 limited limited JJ cord-035342-sf0zld5z 515 10 . . . cord-035342-sf0zld5z 516 1 Relative relative JJ cord-035342-sf0zld5z 516 2 optimism optimism NN cord-035342-sf0zld5z 516 3 should should MD cord-035342-sf0zld5z 516 4 be be VB cord-035342-sf0zld5z 516 5 considered consider VBN cord-035342-sf0zld5z 516 6 as as IN cord-035342-sf0zld5z 516 7 an an DT cord-035342-sf0zld5z 516 8 important important JJ cord-035342-sf0zld5z 516 9 explanation explanation NN cord-035342-sf0zld5z 516 10 contributing contribute VBG cord-035342-sf0zld5z 516 11 to to IN cord-035342-sf0zld5z 516 12 home home NN cord-035342-sf0zld5z 516 13 bias bias NN cord-035342-sf0zld5z 516 14 . . . cord-035342-sf0zld5z 517 1 Prior prior JJ cord-035342-sf0zld5z 517 2 beliefs belief NNS cord-035342-sf0zld5z 517 3 contribute contribute VBP cord-035342-sf0zld5z 517 4 to to IN cord-035342-sf0zld5z 517 5 a a DT cord-035342-sf0zld5z 517 6 certain certain JJ cord-035342-sf0zld5z 517 7 degree degree NN cord-035342-sf0zld5z 517 8 to to IN cord-035342-sf0zld5z 517 9 the the DT cord-035342-sf0zld5z 517 10 existence existence NN cord-035342-sf0zld5z 517 11 of of IN cord-035342-sf0zld5z 517 12 home home NN cord-035342-sf0zld5z 517 13 bias bias NN cord-035342-sf0zld5z 517 14 . . . cord-035342-sf0zld5z 518 1 In in IN cord-035342-sf0zld5z 518 2 general general JJ cord-035342-sf0zld5z 518 3 , , , cord-035342-sf0zld5z 518 4 home home NN cord-035342-sf0zld5z 518 5 bias bias NN cord-035342-sf0zld5z 518 6 in in IN cord-035342-sf0zld5z 518 7 equities equity NNS cord-035342-sf0zld5z 518 8 and and CC cord-035342-sf0zld5z 518 9 bonds bond NNS cord-035342-sf0zld5z 518 10 is be VBZ cord-035342-sf0zld5z 518 11 driven drive VBN cord-035342-sf0zld5z 518 12 by by IN cord-035342-sf0zld5z 518 13 behavioural behavioural JJ cord-035342-sf0zld5z 518 14 and and CC cord-035342-sf0zld5z 518 15 informational informational JJ cord-035342-sf0zld5z 518 16 factors factor NNS cord-035342-sf0zld5z 518 17 whereas whereas IN cord-035342-sf0zld5z 518 18 home home NN cord-035342-sf0zld5z 518 19 bias bias NN cord-035342-sf0zld5z 518 20 in in IN cord-035342-sf0zld5z 518 21 bonds bond NNS cord-035342-sf0zld5z 518 22 is be VBZ cord-035342-sf0zld5z 518 23 also also RB cord-035342-sf0zld5z 518 24 influenced influence VBN cord-035342-sf0zld5z 518 25 by by IN cord-035342-sf0zld5z 518 26 institutional institutional JJ cord-035342-sf0zld5z 518 27 factors factor NNS cord-035342-sf0zld5z 518 28 ( ( -LRB- cord-035342-sf0zld5z 518 29 e.g. e.g. IN cord-035342-sf0zld5z 518 30 capital capital NN cord-035342-sf0zld5z 518 31 control control NN cord-035342-sf0zld5z 518 32 , , , cord-035342-sf0zld5z 518 33 investor investor NN cord-035342-sf0zld5z 518 34 protection protection NN cord-035342-sf0zld5z 518 35 , , , cord-035342-sf0zld5z 518 36 legal legal JJ cord-035342-sf0zld5z 518 37 framework framework NN cord-035342-sf0zld5z 518 38 ) ) -RRB- cord-035342-sf0zld5z 518 39 . . . cord-035342-sf0zld5z 519 1 Though though RB cord-035342-sf0zld5z 519 2 , , , cord-035342-sf0zld5z 519 3 there there EX cord-035342-sf0zld5z 519 4 may may MD cord-035342-sf0zld5z 519 5 be be VB cord-035342-sf0zld5z 519 6 some some DT cord-035342-sf0zld5z 519 7 limitations limitation NNS cord-035342-sf0zld5z 519 8 to to IN cord-035342-sf0zld5z 519 9 the the DT cord-035342-sf0zld5z 519 10 evidence evidence NN cord-035342-sf0zld5z 519 11 that that WDT cord-035342-sf0zld5z 519 12 should should MD cord-035342-sf0zld5z 519 13 not not RB cord-035342-sf0zld5z 519 14 be be VB cord-035342-sf0zld5z 519 15 neglected neglect VBN cord-035342-sf0zld5z 519 16 . . . cord-035342-sf0zld5z 520 1 Strong strong JJ cord-035342-sf0zld5z 520 2 and and CC cord-035342-sf0zld5z 520 3 Xu Xu NNP cord-035342-sf0zld5z 520 4 ( ( -LRB- cord-035342-sf0zld5z 520 5 2003 2003 CD cord-035342-sf0zld5z 520 6 ) ) -RRB- cord-035342-sf0zld5z 520 7 question question NN cord-035342-sf0zld5z 520 8 what what WP cord-035342-sf0zld5z 520 9 came come VBD cord-035342-sf0zld5z 520 10 first first RB cord-035342-sf0zld5z 520 11 and and CC cord-035342-sf0zld5z 520 12 what what WDT cord-035342-sf0zld5z 520 13 results result VBZ cord-035342-sf0zld5z 520 14 : : : cord-035342-sf0zld5z 520 15 relative relative JJ cord-035342-sf0zld5z 520 16 optimism optimism NN cord-035342-sf0zld5z 520 17 or or CC cord-035342-sf0zld5z 520 18 home home NN cord-035342-sf0zld5z 520 19 bias bias NN cord-035342-sf0zld5z 520 20 . . . cord-035342-sf0zld5z 521 1 At at IN cord-035342-sf0zld5z 521 2 least least JJS cord-035342-sf0zld5z 521 3 mutual mutual JJ cord-035342-sf0zld5z 521 4 dependencies dependency NNS cord-035342-sf0zld5z 521 5 can can MD cord-035342-sf0zld5z 521 6 be be VB cord-035342-sf0zld5z 521 7 confirmed confirm VBN cord-035342-sf0zld5z 521 8 . . . cord-035342-sf0zld5z 522 1 But but CC cord-035342-sf0zld5z 522 2 , , , cord-035342-sf0zld5z 522 3 behavioural behavioural JJ cord-035342-sf0zld5z 522 4 reasons reason NNS cord-035342-sf0zld5z 522 5 , , , cord-035342-sf0zld5z 522 6 even even RB cord-035342-sf0zld5z 522 7 for for IN cord-035342-sf0zld5z 522 8 sophisticated sophisticated JJ cord-035342-sf0zld5z 522 9 fund fund NN cord-035342-sf0zld5z 522 10 managers manager NNS cord-035342-sf0zld5z 522 11 , , , cord-035342-sf0zld5z 522 12 can can MD cord-035342-sf0zld5z 522 13 not not RB cord-035342-sf0zld5z 522 14 be be VB cord-035342-sf0zld5z 522 15 rejected reject VBN cord-035342-sf0zld5z 522 16 . . . cord-035342-sf0zld5z 523 1 Informational informational JJ cord-035342-sf0zld5z 523 2 reasons reason NNS cord-035342-sf0zld5z 523 3 together together RB cord-035342-sf0zld5z 523 4 with with IN cord-035342-sf0zld5z 523 5 behavioural behavioural JJ cord-035342-sf0zld5z 523 6 causes cause NNS cord-035342-sf0zld5z 523 7 can can MD cord-035342-sf0zld5z 523 8 exist exist VB cord-035342-sf0zld5z 523 9 simultaneously simultaneously RB cord-035342-sf0zld5z 523 10 and and CC cord-035342-sf0zld5z 523 11 both both DT cord-035342-sf0zld5z 523 12 contribute contribute VBP cord-035342-sf0zld5z 523 13 to to IN cord-035342-sf0zld5z 523 14 home home NN cord-035342-sf0zld5z 523 15 bias bias NN cord-035342-sf0zld5z 524 1 ( ( -LRB- cord-035342-sf0zld5z 524 2 Lütje Lütje NNP cord-035342-sf0zld5z 524 3 and and CC cord-035342-sf0zld5z 524 4 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 524 5 2007 2007 CD cord-035342-sf0zld5z 524 6 ) ) -RRB- cord-035342-sf0zld5z 524 7 . . . cord-035342-sf0zld5z 525 1 In in IN cord-035342-sf0zld5z 525 2 decisions decision NNS cord-035342-sf0zld5z 525 3 under under IN cord-035342-sf0zld5z 525 4 uncertainty uncertainty NN cord-035342-sf0zld5z 525 5 individuals individual NNS cord-035342-sf0zld5z 525 6 ' ' POS cord-035342-sf0zld5z 525 7 preferences preference NNS cord-035342-sf0zld5z 525 8 are be VBP cord-035342-sf0zld5z 525 9 numerous numerous JJ cord-035342-sf0zld5z 525 10 . . . cord-035342-sf0zld5z 526 1 Ambiguity ambiguity NN cord-035342-sf0zld5z 526 2 and and CC cord-035342-sf0zld5z 526 3 aversion aversion NN cord-035342-sf0zld5z 526 4 to to IN cord-035342-sf0zld5z 526 5 ambiguity ambiguity NN cord-035342-sf0zld5z 526 6 of of IN cord-035342-sf0zld5z 526 7 individual individual JJ cord-035342-sf0zld5z 526 8 investors investor NNS cord-035342-sf0zld5z 526 9 are be VBP cord-035342-sf0zld5z 526 10 one one CD cord-035342-sf0zld5z 526 11 inclination inclination NN cord-035342-sf0zld5z 526 12 of of IN cord-035342-sf0zld5z 526 13 investors investor NNS cord-035342-sf0zld5z 526 14 ' ' POS cord-035342-sf0zld5z 526 15 behaviours behaviour NNS cord-035342-sf0zld5z 526 16 . . . cord-035342-sf0zld5z 527 1 Some some DT cord-035342-sf0zld5z 527 2 behaviours behaviour NNS cord-035342-sf0zld5z 527 3 can can MD cord-035342-sf0zld5z 527 4 not not RB cord-035342-sf0zld5z 527 5 be be VB cord-035342-sf0zld5z 527 6 explained explain VBN cord-035342-sf0zld5z 527 7 by by IN cord-035342-sf0zld5z 527 8 ambiguity ambiguity NN cord-035342-sf0zld5z 527 9 aversion aversion NN cord-035342-sf0zld5z 527 10 , , , cord-035342-sf0zld5z 527 11 but but CC cord-035342-sf0zld5z 527 12 rather rather RB cord-035342-sf0zld5z 527 13 based base VBN cord-035342-sf0zld5z 527 14 on on IN cord-035342-sf0zld5z 527 15 competence competence NN cord-035342-sf0zld5z 527 16 and and CC cord-035342-sf0zld5z 527 17 experience experience NN cord-035342-sf0zld5z 527 18 of of IN cord-035342-sf0zld5z 527 19 investors investor NNS cord-035342-sf0zld5z 527 20 . . . cord-035342-sf0zld5z 528 1 Besides besides RB cord-035342-sf0zld5z 528 2 , , , cord-035342-sf0zld5z 528 3 financial financial JJ cord-035342-sf0zld5z 528 4 literacy literacy NN cord-035342-sf0zld5z 528 5 and and CC cord-035342-sf0zld5z 528 6 the the DT cord-035342-sf0zld5z 528 7 extent extent NN cord-035342-sf0zld5z 528 8 of of IN cord-035342-sf0zld5z 528 9 advices advice NNS cord-035342-sf0zld5z 528 10 seeking seek VBG cord-035342-sf0zld5z 528 11 are be VBP cord-035342-sf0zld5z 528 12 other other JJ cord-035342-sf0zld5z 528 13 behavioural behavioural JJ cord-035342-sf0zld5z 528 14 approaches approach NNS cord-035342-sf0zld5z 528 15 . . . cord-035342-sf0zld5z 529 1 Ambiguity ambiguity NN cord-035342-sf0zld5z 529 2 aversion aversion NN cord-035342-sf0zld5z 529 3 is be VBZ cord-035342-sf0zld5z 529 4 a a DT cord-035342-sf0zld5z 529 5 behavioural behavioural JJ cord-035342-sf0zld5z 529 6 characteristic characteristic NN cord-035342-sf0zld5z 529 7 of of IN cord-035342-sf0zld5z 529 8 human human JJ cord-035342-sf0zld5z 529 9 beings being NNS cord-035342-sf0zld5z 529 10 and and CC cord-035342-sf0zld5z 529 11 was be VBD cord-035342-sf0zld5z 529 12 tested test VBN cord-035342-sf0zld5z 529 13 and and CC cord-035342-sf0zld5z 529 14 confirmed confirm VBN cord-035342-sf0zld5z 529 15 in in IN cord-035342-sf0zld5z 529 16 an an DT cord-035342-sf0zld5z 529 17 experiment experiment NN cord-035342-sf0zld5z 529 18 by by IN cord-035342-sf0zld5z 529 19 Ellsberg Ellsberg NNP cord-035342-sf0zld5z 529 20 ( ( -LRB- cord-035342-sf0zld5z 529 21 1961 1961 CD cord-035342-sf0zld5z 529 22 ) ) -RRB- cord-035342-sf0zld5z 529 23 . . . cord-035342-sf0zld5z 530 1 In in IN cord-035342-sf0zld5z 530 2 an an DT cord-035342-sf0zld5z 530 3 ambiguous ambiguous JJ cord-035342-sf0zld5z 530 4 investment investment NN cord-035342-sf0zld5z 530 5 setting set VBG cord-035342-sf0zld5z 530 6 no no DT cord-035342-sf0zld5z 530 7 return return NN cord-035342-sf0zld5z 530 8 distributions distribution NNS cord-035342-sf0zld5z 530 9 are be VBP cord-035342-sf0zld5z 530 10 known know VBN cord-035342-sf0zld5z 530 11 at at RB cord-035342-sf0zld5z 530 12 all all RB cord-035342-sf0zld5z 530 13 . . . cord-035342-sf0zld5z 531 1 These these DT cord-035342-sf0zld5z 531 2 findings finding NNS cord-035342-sf0zld5z 531 3 are be VBP cord-035342-sf0zld5z 531 4 " " `` cord-035342-sf0zld5z 531 5 in in IN cord-035342-sf0zld5z 531 6 trouble trouble NN cord-035342-sf0zld5z 531 7 with with IN cord-035342-sf0zld5z 531 8 the the DT cord-035342-sf0zld5z 531 9 Savage savage JJ cord-035342-sf0zld5z 531 10 axioms axiom NNS cord-035342-sf0zld5z 531 11 " " '' cord-035342-sf0zld5z 531 12 ( ( -LRB- cord-035342-sf0zld5z 531 13 Ellsberg Ellsberg NNP cord-035342-sf0zld5z 531 14 1961 1961 CD cord-035342-sf0zld5z 531 15 , , , cord-035342-sf0zld5z 531 16 p. p. NN cord-035342-sf0zld5z 531 17 651 651 CD cord-035342-sf0zld5z 531 18 ) ) -RRB- cord-035342-sf0zld5z 531 19 . . . cord-035342-sf0zld5z 532 1 Relating relate VBG cord-035342-sf0zld5z 532 2 to to IN cord-035342-sf0zld5z 532 3 portfolio portfolio NN cord-035342-sf0zld5z 532 4 choices choice NNS cord-035342-sf0zld5z 532 5 of of IN cord-035342-sf0zld5z 532 6 investors investor NNS cord-035342-sf0zld5z 532 7 , , , cord-035342-sf0zld5z 532 8 ambiguity ambiguity NN cord-035342-sf0zld5z 532 9 aversion aversion NN cord-035342-sf0zld5z 532 10 can can MD cord-035342-sf0zld5z 532 11 be be VB cord-035342-sf0zld5z 532 12 part part NN cord-035342-sf0zld5z 532 13 of of IN cord-035342-sf0zld5z 532 14 an an DT cord-035342-sf0zld5z 532 15 explanation explanation NN cord-035342-sf0zld5z 532 16 for for IN cord-035342-sf0zld5z 532 17 home home NN cord-035342-sf0zld5z 532 18 bias bias NN cord-035342-sf0zld5z 532 19 . . . cord-035342-sf0zld5z 533 1 In in IN cord-035342-sf0zld5z 533 2 a a DT cord-035342-sf0zld5z 533 3 recent recent JJ cord-035342-sf0zld5z 533 4 study study NN cord-035342-sf0zld5z 533 5 , , , cord-035342-sf0zld5z 533 6 Dimmock Dimmock NNP cord-035342-sf0zld5z 533 7 et et NNP cord-035342-sf0zld5z 533 8 al al NNP cord-035342-sf0zld5z 533 9 . . . cord-035342-sf0zld5z 534 1 ( ( -LRB- cord-035342-sf0zld5z 534 2 2016 2016 CD cord-035342-sf0zld5z 534 3 ) ) -RRB- cord-035342-sf0zld5z 534 4 examine examine VB cord-035342-sf0zld5z 534 5 how how WRB cord-035342-sf0zld5z 534 6 ambiguity ambiguity NN cord-035342-sf0zld5z 534 7 aversion aversion NN cord-035342-sf0zld5z 534 8 refrains refrain VBZ cord-035342-sf0zld5z 534 9 investors investor NNS cord-035342-sf0zld5z 534 10 from from IN cord-035342-sf0zld5z 534 11 investing invest VBG cord-035342-sf0zld5z 534 12 abroad abroad RB cord-035342-sf0zld5z 534 13 . . . cord-035342-sf0zld5z 535 1 Ambiguity ambiguity NN cord-035342-sf0zld5z 535 2 aversion aversion NN cord-035342-sf0zld5z 535 3 is be VBZ cord-035342-sf0zld5z 535 4 negatively negatively RB cord-035342-sf0zld5z 535 5 correlated correlate VBN cord-035342-sf0zld5z 535 6 to to IN cord-035342-sf0zld5z 535 7 foreign foreign JJ cord-035342-sf0zld5z 535 8 stock stock NN cord-035342-sf0zld5z 535 9 ownership ownership NN cord-035342-sf0zld5z 535 10 . . . cord-035342-sf0zld5z 536 1 This this DT cord-035342-sf0zld5z 536 2 means mean VBZ cord-035342-sf0zld5z 536 3 that that IN cord-035342-sf0zld5z 536 4 ambiguity ambiguity NN cord-035342-sf0zld5z 536 5 - - HYPH cord-035342-sf0zld5z 536 6 averse averse JJ cord-035342-sf0zld5z 536 7 household household NN cord-035342-sf0zld5z 536 8 investors investor NNS cord-035342-sf0zld5z 536 9 hold hold VBP cord-035342-sf0zld5z 536 10 less less JJR cord-035342-sf0zld5z 536 11 foreign foreign JJ cord-035342-sf0zld5z 536 12 equities equity NNS cord-035342-sf0zld5z 536 13 in in IN cord-035342-sf0zld5z 536 14 their -PRON- PRP$ cord-035342-sf0zld5z 536 15 portfolio portfolio NN cord-035342-sf0zld5z 536 16 than than IN cord-035342-sf0zld5z 536 17 an an DT cord-035342-sf0zld5z 536 18 average average JJ cord-035342-sf0zld5z 536 19 investor investor NN cord-035342-sf0zld5z 536 20 . . . cord-035342-sf0zld5z 537 1 Since since IN cord-035342-sf0zld5z 537 2 the the DT cord-035342-sf0zld5z 537 3 majority majority NN cord-035342-sf0zld5z 537 4 of of IN cord-035342-sf0zld5z 537 5 people people NNS cord-035342-sf0zld5z 537 6 is be VBZ cord-035342-sf0zld5z 537 7 ambiguity ambiguity NN cord-035342-sf0zld5z 537 8 - - HYPH cord-035342-sf0zld5z 537 9 averse averse JJ cord-035342-sf0zld5z 537 10 , , , cord-035342-sf0zld5z 537 11 there there EX cord-035342-sf0zld5z 537 12 is be VBZ cord-035342-sf0zld5z 537 13 a a DT cord-035342-sf0zld5z 537 14 certain certain JJ cord-035342-sf0zld5z 537 15 degree degree NN cord-035342-sf0zld5z 537 16 of of IN cord-035342-sf0zld5z 537 17 home home NN cord-035342-sf0zld5z 537 18 bias bias NN cord-035342-sf0zld5z 537 19 . . . cord-035342-sf0zld5z 538 1 Guidolin Guidolin NNP cord-035342-sf0zld5z 538 2 and and CC cord-035342-sf0zld5z 538 3 Liu Liu NNP cord-035342-sf0zld5z 538 4 ( ( -LRB- cord-035342-sf0zld5z 538 5 2016 2016 CD cord-035342-sf0zld5z 538 6 ) ) -RRB- cord-035342-sf0zld5z 538 7 provide provide VBP cord-035342-sf0zld5z 538 8 supporting support VBG cord-035342-sf0zld5z 538 9 evidence evidence NN cord-035342-sf0zld5z 538 10 in in IN cord-035342-sf0zld5z 538 11 line line NN cord-035342-sf0zld5z 538 12 with with IN cord-035342-sf0zld5z 538 13 the the DT cord-035342-sf0zld5z 538 14 results result NNS cord-035342-sf0zld5z 538 15 by by IN cord-035342-sf0zld5z 538 16 Dimmock Dimmock NNP cord-035342-sf0zld5z 538 17 et et NNP cord-035342-sf0zld5z 538 18 al al NNP cord-035342-sf0zld5z 538 19 . . . cord-035342-sf0zld5z 539 1 ( ( -LRB- cord-035342-sf0zld5z 539 2 2016 2016 CD cord-035342-sf0zld5z 539 3 ) ) -RRB- cord-035342-sf0zld5z 539 4 based base VBN cord-035342-sf0zld5z 539 5 on on IN cord-035342-sf0zld5z 539 6 a a DT cord-035342-sf0zld5z 539 7 model model NN cord-035342-sf0zld5z 539 8 with with IN cord-035342-sf0zld5z 539 9 incorporated incorporate VBN cord-035342-sf0zld5z 539 10 prior prior JJ cord-035342-sf0zld5z 539 11 beliefs belief NNS cord-035342-sf0zld5z 539 12 of of IN cord-035342-sf0zld5z 539 13 an an DT cord-035342-sf0zld5z 539 14 U.S. U.S. NNP cord-035342-sf0zld5z 539 15 investor investor NN cord-035342-sf0zld5z 539 16 in in IN cord-035342-sf0zld5z 539 17 the the DT cord-035342-sf0zld5z 539 18 domestic domestic JJ cord-035342-sf0zld5z 539 19 CAPM CAPM NNP cord-035342-sf0zld5z 539 20 . . . cord-035342-sf0zld5z 540 1 In in IN cord-035342-sf0zld5z 540 2 contrast contrast NN cord-035342-sf0zld5z 540 3 to to IN cord-035342-sf0zld5z 540 4 Pástor Pástor NNP cord-035342-sf0zld5z 540 5 ( ( -LRB- cord-035342-sf0zld5z 540 6 2000 2000 CD cord-035342-sf0zld5z 540 7 ) ) -RRB- cord-035342-sf0zld5z 540 8 , , , cord-035342-sf0zld5z 540 9 they -PRON- PRP cord-035342-sf0zld5z 540 10 do do VBP cord-035342-sf0zld5z 540 11 not not RB cord-035342-sf0zld5z 540 12 rely rely VB cord-035342-sf0zld5z 540 13 on on IN cord-035342-sf0zld5z 540 14 the the DT cord-035342-sf0zld5z 540 15 standard standard JJ cord-035342-sf0zld5z 540 16 Bayesian bayesian JJ cord-035342-sf0zld5z 540 17 approach approach NN cord-035342-sf0zld5z 540 18 . . . cord-035342-sf0zld5z 541 1 Within within IN cord-035342-sf0zld5z 541 2 this this DT cord-035342-sf0zld5z 541 3 model model NN cord-035342-sf0zld5z 541 4 , , , cord-035342-sf0zld5z 541 5 ambiguity ambiguity NN cord-035342-sf0zld5z 541 6 aversion aversion NN cord-035342-sf0zld5z 541 7 of of IN cord-035342-sf0zld5z 541 8 an an DT cord-035342-sf0zld5z 541 9 investor investor NN cord-035342-sf0zld5z 541 10 leads lead VBZ cord-035342-sf0zld5z 541 11 to to IN cord-035342-sf0zld5z 541 12 strong strong JJ cord-035342-sf0zld5z 541 13 and and CC cord-035342-sf0zld5z 541 14 significant significant JJ cord-035342-sf0zld5z 541 15 home home NN cord-035342-sf0zld5z 541 16 bias bias NN cord-035342-sf0zld5z 541 17 in in IN cord-035342-sf0zld5z 541 18 both both DT cord-035342-sf0zld5z 541 19 bull bull NN cord-035342-sf0zld5z 541 20 and and CC cord-035342-sf0zld5z 541 21 bear bear NN cord-035342-sf0zld5z 541 22 periods period NNS cord-035342-sf0zld5z 541 23 . . . cord-035342-sf0zld5z 542 1 It -PRON- PRP cord-035342-sf0zld5z 542 2 is be VBZ cord-035342-sf0zld5z 542 3 independent independent JJ cord-035342-sf0zld5z 542 4 from from IN cord-035342-sf0zld5z 542 5 the the DT cord-035342-sf0zld5z 542 6 extent extent NN cord-035342-sf0zld5z 542 7 of of IN cord-035342-sf0zld5z 542 8 risk risk NN cord-035342-sf0zld5z 542 9 aversion aversion NN cord-035342-sf0zld5z 542 10 and and CC cord-035342-sf0zld5z 542 11 from from IN cord-035342-sf0zld5z 542 12 the the DT cord-035342-sf0zld5z 542 13 degree degree NN cord-035342-sf0zld5z 542 14 of of IN cord-035342-sf0zld5z 542 15 prior prior JJ cord-035342-sf0zld5z 542 16 beliefs belief NNS cord-035342-sf0zld5z 542 17 respectively respectively RB cord-035342-sf0zld5z 542 18 trust trust VBP cord-035342-sf0zld5z 542 19 about about IN cord-035342-sf0zld5z 542 20 the the DT cord-035342-sf0zld5z 542 21 efficiency efficiency NN cord-035342-sf0zld5z 542 22 of of IN cord-035342-sf0zld5z 542 23 the the DT cord-035342-sf0zld5z 542 24 domestic domestic JJ cord-035342-sf0zld5z 542 25 CAPM CAPM NNP cord-035342-sf0zld5z 542 26 . . . cord-035342-sf0zld5z 543 1 Guidolin Guidolin NNP cord-035342-sf0zld5z 543 2 and and CC cord-035342-sf0zld5z 543 3 Liu Liu NNP cord-035342-sf0zld5z 543 4 ( ( -LRB- cord-035342-sf0zld5z 543 5 2016 2016 CD cord-035342-sf0zld5z 543 6 ) ) -RRB- cord-035342-sf0zld5z 543 7 validate validate VBP cord-035342-sf0zld5z 543 8 the the DT cord-035342-sf0zld5z 543 9 model model NN cord-035342-sf0zld5z 543 10 based base VBN cord-035342-sf0zld5z 543 11 on on IN cord-035342-sf0zld5z 543 12 empirical empirical JJ cord-035342-sf0zld5z 543 13 data datum NNS cord-035342-sf0zld5z 543 14 . . . cord-035342-sf0zld5z 544 1 According accord VBG cord-035342-sf0zld5z 544 2 to to IN cord-035342-sf0zld5z 544 3 Laeven Laeven NNP cord-035342-sf0zld5z 544 4 ( ( -LRB- cord-035342-sf0zld5z 544 5 2012 2012 CD cord-035342-sf0zld5z 544 6 , , , cord-035342-sf0zld5z 544 7 2016 2016 CD cord-035342-sf0zld5z 544 8 ) ) -RRB- cord-035342-sf0zld5z 544 9 ambiguity ambiguity NN cord-035342-sf0zld5z 544 10 aversion aversion NN cord-035342-sf0zld5z 544 11 is be VBZ cord-035342-sf0zld5z 544 12 reinforced reinforce VBN cord-035342-sf0zld5z 544 13 in in IN cord-035342-sf0zld5z 544 14 times time NNS cord-035342-sf0zld5z 544 15 of of IN cord-035342-sf0zld5z 544 16 crisis crisis NN cord-035342-sf0zld5z 544 17 . . . cord-035342-sf0zld5z 545 1 Giannetti Giannetti NNP cord-035342-sf0zld5z 545 2 and and CC cord-035342-sf0zld5z 545 3 Laeven Laeven NNP cord-035342-sf0zld5z 545 4 ( ( -LRB- cord-035342-sf0zld5z 545 5 2016 2016 CD cord-035342-sf0zld5z 545 6 ) ) -RRB- cord-035342-sf0zld5z 545 7 are be VBP cord-035342-sf0zld5z 545 8 the the DT cord-035342-sf0zld5z 545 9 only only JJ cord-035342-sf0zld5z 545 10 assuming assume VBG cord-035342-sf0zld5z 545 11 that that IN cord-035342-sf0zld5z 545 12 amongst amongst IN cord-035342-sf0zld5z 545 13 other other JJ cord-035342-sf0zld5z 545 14 reasons reason NNS cord-035342-sf0zld5z 545 15 ambiguity ambiguity NN cord-035342-sf0zld5z 545 16 aversion aversion NN cord-035342-sf0zld5z 545 17 intensifies intensify VBZ cord-035342-sf0zld5z 545 18 local local JJ cord-035342-sf0zld5z 545 19 bias bias NN cord-035342-sf0zld5z 545 20 ( ( -LRB- cord-035342-sf0zld5z 545 21 and and CC cord-035342-sf0zld5z 545 22 not not RB cord-035342-sf0zld5z 545 23 home home NN cord-035342-sf0zld5z 545 24 bias bias NN cord-035342-sf0zld5z 545 25 ) ) -RRB- cord-035342-sf0zld5z 545 26 of of IN cord-035342-sf0zld5z 545 27 investors investor NNS cord-035342-sf0zld5z 545 28 in in IN cord-035342-sf0zld5z 545 29 times time NNS cord-035342-sf0zld5z 545 30 of of IN cord-035342-sf0zld5z 545 31 crisis crisis NN cord-035342-sf0zld5z 545 32 . . . cord-035342-sf0zld5z 546 1 Beyond beyond IN cord-035342-sf0zld5z 546 2 the the DT cord-035342-sf0zld5z 546 3 probability probability NN cord-035342-sf0zld5z 546 4 - - HYPH cord-035342-sf0zld5z 546 5 based base VBN cord-035342-sf0zld5z 546 6 ( ( -LRB- cord-035342-sf0zld5z 546 7 ambiguity ambiguity NN cord-035342-sf0zld5z 546 8 ) ) -RRB- cord-035342-sf0zld5z 546 9 explanation explanation NN cord-035342-sf0zld5z 546 10 , , , cord-035342-sf0zld5z 546 11 Heath Heath NNP cord-035342-sf0zld5z 546 12 and and CC cord-035342-sf0zld5z 546 13 Tversky Tversky NNP cord-035342-sf0zld5z 546 14 ( ( -LRB- cord-035342-sf0zld5z 546 15 1991 1991 CD cord-035342-sf0zld5z 546 16 ) ) -RRB- cord-035342-sf0zld5z 546 17 examine examine VB cord-035342-sf0zld5z 546 18 the the DT cord-035342-sf0zld5z 546 19 rather rather RB cord-035342-sf0zld5z 546 20 just just RB cord-035342-sf0zld5z 546 21 psychological psychological JJ cord-035342-sf0zld5z 546 22 aspects aspect NNS cord-035342-sf0zld5z 546 23 of of IN cord-035342-sf0zld5z 546 24 the the DT cord-035342-sf0zld5z 546 25 preference preference NN cord-035342-sf0zld5z 546 26 for for IN cord-035342-sf0zld5z 546 27 competencebased competencebased JJ cord-035342-sf0zld5z 546 28 decisions decision NNS cord-035342-sf0zld5z 546 29 . . . cord-035342-sf0zld5z 547 1 The the DT cord-035342-sf0zld5z 547 2 preference preference NN cord-035342-sf0zld5z 547 3 of of IN cord-035342-sf0zld5z 547 4 investors investor NNS cord-035342-sf0zld5z 547 5 , , , cord-035342-sf0zld5z 547 6 that that IN cord-035342-sf0zld5z 547 7 they -PRON- PRP cord-035342-sf0zld5z 547 8 establish establish VBP cord-035342-sf0zld5z 547 9 , , , cord-035342-sf0zld5z 547 10 is be VBZ cord-035342-sf0zld5z 547 11 called call VBN cord-035342-sf0zld5z 547 12 ' ' `` cord-035342-sf0zld5z 547 13 competence competence NN cord-035342-sf0zld5z 547 14 hypothesis hypothesis NN cord-035342-sf0zld5z 547 15 ' ' '' cord-035342-sf0zld5z 547 16 . . . cord-035342-sf0zld5z 548 1 8 8 CD cord-035342-sf0zld5z 549 1 This this DT cord-035342-sf0zld5z 549 2 theory theory NN cord-035342-sf0zld5z 549 3 is be VBZ cord-035342-sf0zld5z 549 4 highly highly RB cord-035342-sf0zld5z 549 5 applicable applicable JJ cord-035342-sf0zld5z 549 6 to to IN cord-035342-sf0zld5z 549 7 investors investor NNS cord-035342-sf0zld5z 549 8 ' ' POS cord-035342-sf0zld5z 549 9 portfolio portfolio NN cord-035342-sf0zld5z 549 10 choice choice NN cord-035342-sf0zld5z 549 11 and and CC cord-035342-sf0zld5z 549 12 home home NN cord-035342-sf0zld5z 549 13 bias bias NN cord-035342-sf0zld5z 549 14 . . . cord-035342-sf0zld5z 550 1 The the DT cord-035342-sf0zld5z 550 2 event event NN cord-035342-sf0zld5z 550 3 of of IN cord-035342-sf0zld5z 550 4 being be VBG cord-035342-sf0zld5z 550 5 competent competent JJ cord-035342-sf0zld5z 550 6 and and CC cord-035342-sf0zld5z 550 7 skilful skilful JJ cord-035342-sf0zld5z 550 8 in in IN cord-035342-sf0zld5z 550 9 this this DT cord-035342-sf0zld5z 550 10 setting setting NN cord-035342-sf0zld5z 550 11 is be VBZ cord-035342-sf0zld5z 550 12 like like IN cord-035342-sf0zld5z 550 13 betting bet VBG cord-035342-sf0zld5z 550 14 on on IN cord-035342-sf0zld5z 550 15 - - HYPH cord-035342-sf0zld5z 550 16 in in IN cord-035342-sf0zld5z 550 17 this this DT cord-035342-sf0zld5z 550 18 sense sense NN cord-035342-sf0zld5z 550 19 meaning mean VBG cord-035342-sf0zld5z 550 20 investing invest VBG cord-035342-sf0zld5z 550 21 in in IN cord-035342-sf0zld5z 550 22 - - HYPH cord-035342-sf0zld5z 550 23 domestic domestic JJ cord-035342-sf0zld5z 550 24 assets asset NNS cord-035342-sf0zld5z 550 25 . . . cord-035342-sf0zld5z 551 1 First first RB cord-035342-sf0zld5z 551 2 , , , cord-035342-sf0zld5z 551 3 it -PRON- PRP cord-035342-sf0zld5z 551 4 is be VBZ cord-035342-sf0zld5z 551 5 , , , cord-035342-sf0zld5z 551 6 in in IN cord-035342-sf0zld5z 551 7 fact fact NN cord-035342-sf0zld5z 551 8 , , , cord-035342-sf0zld5z 551 9 the the DT cord-035342-sf0zld5z 551 10 case case NN cord-035342-sf0zld5z 551 11 that that IN cord-035342-sf0zld5z 551 12 investors investor NNS cord-035342-sf0zld5z 551 13 perceive perceive VBP cord-035342-sf0zld5z 551 14 themselves -PRON- PRP cord-035342-sf0zld5z 551 15 as as IN cord-035342-sf0zld5z 551 16 more more RBR cord-035342-sf0zld5z 551 17 competent competent JJ cord-035342-sf0zld5z 551 18 about about IN cord-035342-sf0zld5z 551 19 assessing assess VBG cord-035342-sf0zld5z 551 20 domestic domestic JJ cord-035342-sf0zld5z 551 21 assets asset NNS cord-035342-sf0zld5z 551 22 and and CC cord-035342-sf0zld5z 551 23 overestimate overestimate VB cord-035342-sf0zld5z 551 24 their -PRON- PRP$ cord-035342-sf0zld5z 551 25 own own JJ cord-035342-sf0zld5z 551 26 judgements judgement NNS cord-035342-sf0zld5z 551 27 . . . cord-035342-sf0zld5z 552 1 Second second RB cord-035342-sf0zld5z 552 2 , , , cord-035342-sf0zld5z 552 3 when when WRB cord-035342-sf0zld5z 552 4 investing invest VBG cord-035342-sf0zld5z 552 5 in in IN cord-035342-sf0zld5z 552 6 domestic domestic JJ cord-035342-sf0zld5z 552 7 assets asset NNS cord-035342-sf0zld5z 552 8 it -PRON- PRP cord-035342-sf0zld5z 552 9 is be VBZ cord-035342-sf0zld5z 552 10 generally generally RB cord-035342-sf0zld5z 552 11 assumed assume VBN cord-035342-sf0zld5z 552 12 that that IN cord-035342-sf0zld5z 552 13 the the DT cord-035342-sf0zld5z 552 14 investor investor NN cord-035342-sf0zld5z 552 15 has have VBZ cord-035342-sf0zld5z 552 16 to to TO cord-035342-sf0zld5z 552 17 be be VB cord-035342-sf0zld5z 552 18 more more RBR cord-035342-sf0zld5z 552 19 competent competent JJ cord-035342-sf0zld5z 552 20 . . . cord-035342-sf0zld5z 553 1 The the DT cord-035342-sf0zld5z 553 2 investor investor NN cord-035342-sf0zld5z 553 3 would would MD cord-035342-sf0zld5z 553 4 have have VB cord-035342-sf0zld5z 553 5 the the DT cord-035342-sf0zld5z 553 6 ability ability NN cord-035342-sf0zld5z 553 7 to to TO cord-035342-sf0zld5z 553 8 gather gather VB cord-035342-sf0zld5z 553 9 information information NN cord-035342-sf0zld5z 553 10 and and CC cord-035342-sf0zld5z 553 11 would would MD cord-035342-sf0zld5z 553 12 have have VB cord-035342-sf0zld5z 553 13 easier easy JJR cord-035342-sf0zld5z 553 14 access access NN cord-035342-sf0zld5z 553 15 to to IN cord-035342-sf0zld5z 553 16 knowledge knowledge NN cord-035342-sf0zld5z 553 17 about about IN cord-035342-sf0zld5z 553 18 the the DT cord-035342-sf0zld5z 553 19 investment investment NN cord-035342-sf0zld5z 553 20 opportunity opportunity NN cord-035342-sf0zld5z 553 21 . . . cord-035342-sf0zld5z 554 1 Kilka Kilka NNP cord-035342-sf0zld5z 554 2 and and CC cord-035342-sf0zld5z 554 3 Weber Weber NNP cord-035342-sf0zld5z 554 4 ( ( -LRB- cord-035342-sf0zld5z 554 5 2000 2000 CD cord-035342-sf0zld5z 554 6 ) ) -RRB- cord-035342-sf0zld5z 554 7 examine examine VB cord-035342-sf0zld5z 554 8 the the DT cord-035342-sf0zld5z 554 9 perceived perceive VBN cord-035342-sf0zld5z 554 10 competence competence NN cord-035342-sf0zld5z 554 11 of of IN cord-035342-sf0zld5z 554 12 investors investor NNS cord-035342-sf0zld5z 554 13 and and CC cord-035342-sf0zld5z 554 14 the the DT cord-035342-sf0zld5z 554 15 implications implication NNS cord-035342-sf0zld5z 554 16 on on IN cord-035342-sf0zld5z 554 17 the the DT cord-035342-sf0zld5z 554 18 expected expect VBN cord-035342-sf0zld5z 554 19 returns return NNS cord-035342-sf0zld5z 554 20 in in IN cord-035342-sf0zld5z 554 21 an an DT cord-035342-sf0zld5z 554 22 upswing upswe VBG cord-035342-sf0zld5z 554 23 market market NN cord-035342-sf0zld5z 554 24 and and CC cord-035342-sf0zld5z 554 25 conclude conclude VBP cord-035342-sf0zld5z 554 26 that that IN cord-035342-sf0zld5z 554 27 competence competence NN cord-035342-sf0zld5z 554 28 - - HYPH cord-035342-sf0zld5z 554 29 based base VBN cord-035342-sf0zld5z 554 30 asymmetric asymmetric JJ cord-035342-sf0zld5z 554 31 judgements judgement NNS cord-035342-sf0zld5z 554 32 and and CC cord-035342-sf0zld5z 554 33 expected expect VBD cord-035342-sf0zld5z 554 34 returns return NNS cord-035342-sf0zld5z 554 35 of of IN cord-035342-sf0zld5z 554 36 domestic domestic JJ cord-035342-sf0zld5z 554 37 stocks stock NNS cord-035342-sf0zld5z 554 38 compared compare VBN cord-035342-sf0zld5z 554 39 to to IN cord-035342-sf0zld5z 554 40 foreign foreign JJ cord-035342-sf0zld5z 554 41 stocks stock NNS cord-035342-sf0zld5z 554 42 contribute contribute VBP cord-035342-sf0zld5z 554 43 to to IN cord-035342-sf0zld5z 554 44 the the DT cord-035342-sf0zld5z 554 45 existence existence NN cord-035342-sf0zld5z 554 46 of of IN cord-035342-sf0zld5z 554 47 home home NN cord-035342-sf0zld5z 554 48 bias bias NN cord-035342-sf0zld5z 554 49 . . . cord-035342-sf0zld5z 555 1 Individuals individual NNS cord-035342-sf0zld5z 555 2 feel feel VBP cord-035342-sf0zld5z 555 3 more more RBR cord-035342-sf0zld5z 555 4 competent competent JJ cord-035342-sf0zld5z 555 5 about about IN cord-035342-sf0zld5z 555 6 assessing assess VBG cord-035342-sf0zld5z 555 7 domestic domestic JJ cord-035342-sf0zld5z 555 8 stocks stock NNS cord-035342-sf0zld5z 555 9 and and CC cord-035342-sf0zld5z 555 10 perceive perceive VB cord-035342-sf0zld5z 555 11 them -PRON- PRP cord-035342-sf0zld5z 555 12 more more RBR cord-035342-sf0zld5z 555 13 valuable valuable JJ cord-035342-sf0zld5z 555 14 for for IN cord-035342-sf0zld5z 555 15 making make VBG cord-035342-sf0zld5z 555 16 investments investment NNS cord-035342-sf0zld5z 555 17 . . . cord-035342-sf0zld5z 556 1 The the DT cord-035342-sf0zld5z 556 2 feeling feeling NN cord-035342-sf0zld5z 556 3 of of IN cord-035342-sf0zld5z 556 4 competence competence NN cord-035342-sf0zld5z 556 5 is be VBZ cord-035342-sf0zld5z 556 6 closely closely RB cord-035342-sf0zld5z 556 7 related relate VBN cord-035342-sf0zld5z 556 8 to to IN cord-035342-sf0zld5z 556 9 experience experience NN cord-035342-sf0zld5z 556 10 . . . cord-035342-sf0zld5z 557 1 Making make VBG cord-035342-sf0zld5z 557 2 and and CC cord-035342-sf0zld5z 557 3 gathering gathering NN cord-035342-sf0zld5z 557 4 experience experience NN cord-035342-sf0zld5z 557 5 can can MD cord-035342-sf0zld5z 557 6 lead lead VB cord-035342-sf0zld5z 557 7 to to IN cord-035342-sf0zld5z 557 8 a a DT cord-035342-sf0zld5z 557 9 higher higher RBR cord-035342-sf0zld5z 557 10 perceived perceive VBN cord-035342-sf0zld5z 557 11 competence competence NN cord-035342-sf0zld5z 557 12 of of IN cord-035342-sf0zld5z 557 13 investors investor NNS cord-035342-sf0zld5z 557 14 . . . cord-035342-sf0zld5z 558 1 Abreu Abreu NNP cord-035342-sf0zld5z 558 2 et et NNP cord-035342-sf0zld5z 558 3 al al NNP cord-035342-sf0zld5z 558 4 . . . cord-035342-sf0zld5z 559 1 ( ( -LRB- cord-035342-sf0zld5z 559 2 2011 2011 CD cord-035342-sf0zld5z 559 3 ) ) -RRB- cord-035342-sf0zld5z 559 4 show show VBP cord-035342-sf0zld5z 559 5 that that IN cord-035342-sf0zld5z 559 6 investors investor NNS cord-035342-sf0zld5z 559 7 want want VBP cord-035342-sf0zld5z 559 8 to to TO cord-035342-sf0zld5z 559 9 acquire acquire VB cord-035342-sf0zld5z 559 10 experience experience NN cord-035342-sf0zld5z 559 11 by by IN cord-035342-sf0zld5z 559 12 investing invest VBG cord-035342-sf0zld5z 559 13 in in IN cord-035342-sf0zld5z 559 14 domestic domestic JJ cord-035342-sf0zld5z 559 15 securities security NNS cord-035342-sf0zld5z 559 16 and and CC cord-035342-sf0zld5z 559 17 consider consider VB cord-035342-sf0zld5z 559 18 their -PRON- PRP$ cord-035342-sf0zld5z 559 19 first first JJ cord-035342-sf0zld5z 559 20 step step NN cord-035342-sf0zld5z 559 21 to to IN cord-035342-sf0zld5z 559 22 investing invest VBG cord-035342-sf0zld5z 559 23 abroad abroad RB cord-035342-sf0zld5z 559 24 thoroughly thoroughly RB cord-035342-sf0zld5z 559 25 . . . cord-035342-sf0zld5z 560 1 Investors investor NNS cord-035342-sf0zld5z 560 2 who who WP cord-035342-sf0zld5z 560 3 invest invest VBP cord-035342-sf0zld5z 560 4 domestically domestically RB cord-035342-sf0zld5z 560 5 more more RBR cord-035342-sf0zld5z 560 6 often often RB cord-035342-sf0zld5z 560 7 tend tend VBP cord-035342-sf0zld5z 560 8 to to TO cord-035342-sf0zld5z 560 9 decide decide VB cord-035342-sf0zld5z 560 10 on on IN cord-035342-sf0zld5z 560 11 investments investment NNS cord-035342-sf0zld5z 560 12 abroad abroad RB cord-035342-sf0zld5z 560 13 earlier early RBR cord-035342-sf0zld5z 560 14 , , , cord-035342-sf0zld5z 560 15 because because IN cord-035342-sf0zld5z 560 16 , , , cord-035342-sf0zld5z 560 17 based base VBN cord-035342-sf0zld5z 560 18 on on IN cord-035342-sf0zld5z 560 19 the the DT cord-035342-sf0zld5z 560 20 domestic domestic JJ cord-035342-sf0zld5z 560 21 experience experience NN cord-035342-sf0zld5z 560 22 , , , cord-035342-sf0zld5z 560 23 they -PRON- PRP cord-035342-sf0zld5z 560 24 feel feel VBP cord-035342-sf0zld5z 560 25 more more RBR cord-035342-sf0zld5z 560 26 competent competent JJ cord-035342-sf0zld5z 560 27 about about IN cord-035342-sf0zld5z 560 28 investments investment NNS cord-035342-sf0zld5z 560 29 in in IN cord-035342-sf0zld5z 560 30 general general JJ cord-035342-sf0zld5z 560 31 , , , cord-035342-sf0zld5z 560 32 including include VBG cord-035342-sf0zld5z 560 33 foreign foreign JJ cord-035342-sf0zld5z 560 34 investments investment NNS cord-035342-sf0zld5z 560 35 . . . cord-035342-sf0zld5z 561 1 Married married JJ cord-035342-sf0zld5z 561 2 , , , cord-035342-sf0zld5z 561 3 female female JJ cord-035342-sf0zld5z 561 4 and and CC cord-035342-sf0zld5z 561 5 older old JJR cord-035342-sf0zld5z 561 6 investors investor NNS cord-035342-sf0zld5z 561 7 wait wait VBP cord-035342-sf0zld5z 561 8 longer long RBR cord-035342-sf0zld5z 561 9 until until IN cord-035342-sf0zld5z 561 10 their -PRON- PRP$ cord-035342-sf0zld5z 561 11 first first JJ cord-035342-sf0zld5z 561 12 investment investment NN cord-035342-sf0zld5z 561 13 abroad abroad RB cord-035342-sf0zld5z 561 14 ; ; : cord-035342-sf0zld5z 561 15 wealthier wealthy JJR cord-035342-sf0zld5z 561 16 investors investor NNS cord-035342-sf0zld5z 561 17 and and CC cord-035342-sf0zld5z 561 18 better well RBR cord-035342-sf0zld5z 561 19 educated educate VBN cord-035342-sf0zld5z 561 20 investors investor NNS cord-035342-sf0zld5z 561 21 start start VB cord-035342-sf0zld5z 561 22 earlier early RBR cord-035342-sf0zld5z 561 23 . . . cord-035342-sf0zld5z 562 1 According accord VBG cord-035342-sf0zld5z 562 2 to to IN cord-035342-sf0zld5z 562 3 Graham Graham NNP cord-035342-sf0zld5z 562 4 et et NNP cord-035342-sf0zld5z 562 5 al al NNP cord-035342-sf0zld5z 562 6 . . . cord-035342-sf0zld5z 563 1 ( ( -LRB- cord-035342-sf0zld5z 563 2 2009 2009 CD cord-035342-sf0zld5z 563 3 ) ) -RRB- cord-035342-sf0zld5z 564 1 especially especially RB cord-035342-sf0zld5z 564 2 male male JJ cord-035342-sf0zld5z 564 3 investors investor NNS cord-035342-sf0zld5z 564 4 , , , cord-035342-sf0zld5z 564 5 investors investor NNS cord-035342-sf0zld5z 564 6 with with IN cord-035342-sf0zld5z 564 7 a a DT cord-035342-sf0zld5z 564 8 larger large JJR cord-035342-sf0zld5z 564 9 portfolio portfolio NN cord-035342-sf0zld5z 564 10 and and CC cord-035342-sf0zld5z 564 11 with with IN cord-035342-sf0zld5z 564 12 more more JJR cord-035342-sf0zld5z 564 13 / / SYM cord-035342-sf0zld5z 564 14 better well JJR cord-035342-sf0zld5z 564 15 education education NN cord-035342-sf0zld5z 564 16 feel feel VBP cord-035342-sf0zld5z 564 17 more more RBR cord-035342-sf0zld5z 564 18 competent competent JJ cord-035342-sf0zld5z 564 19 . . . cord-035342-sf0zld5z 565 1 These these DT cord-035342-sf0zld5z 565 2 investors investor NNS cord-035342-sf0zld5z 565 3 with with IN cord-035342-sf0zld5z 565 4 a a DT cord-035342-sf0zld5z 565 5 higher high JJR cord-035342-sf0zld5z 565 6 perceived perceive VBN cord-035342-sf0zld5z 565 7 competence competence NN cord-035342-sf0zld5z 565 8 exhibit exhibit NN cord-035342-sf0zld5z 565 9 less less JJR cord-035342-sf0zld5z 565 10 home home NN cord-035342-sf0zld5z 565 11 bias bias NN cord-035342-sf0zld5z 565 12 . . . cord-035342-sf0zld5z 566 1 Overall overall RB cord-035342-sf0zld5z 566 2 , , , cord-035342-sf0zld5z 566 3 it -PRON- PRP cord-035342-sf0zld5z 566 4 can can MD cord-035342-sf0zld5z 566 5 be be VB cord-035342-sf0zld5z 566 6 concluded conclude VBN cord-035342-sf0zld5z 566 7 that that IN cord-035342-sf0zld5z 566 8 a a DT cord-035342-sf0zld5z 566 9 learning learning NN cord-035342-sf0zld5z 566 10 process process NN cord-035342-sf0zld5z 566 11 is be VBZ cord-035342-sf0zld5z 566 12 an an DT cord-035342-sf0zld5z 566 13 important important JJ cord-035342-sf0zld5z 566 14 feature feature NN cord-035342-sf0zld5z 566 15 of of IN cord-035342-sf0zld5z 566 16 foreign foreign JJ cord-035342-sf0zld5z 566 17 investment investment NN cord-035342-sf0zld5z 566 18 . . . cord-035342-sf0zld5z 567 1 This this DT cord-035342-sf0zld5z 567 2 learning learning NN cord-035342-sf0zld5z 567 3 process process NN cord-035342-sf0zld5z 567 4 has have VBZ cord-035342-sf0zld5z 567 5 , , , cord-035342-sf0zld5z 567 6 in in IN cord-035342-sf0zld5z 567 7 general general JJ cord-035342-sf0zld5z 567 8 , , , cord-035342-sf0zld5z 567 9 similarities similarity NNS cord-035342-sf0zld5z 567 10 to to IN cord-035342-sf0zld5z 567 11 the the DT cord-035342-sf0zld5z 567 12 learning learning NN cord-035342-sf0zld5z 567 13 process process NN cord-035342-sf0zld5z 567 14 examined examine VBN cord-035342-sf0zld5z 567 15 by by IN cord-035342-sf0zld5z 567 16 van van NNP cord-035342-sf0zld5z 567 17 Nieuwerburgh Nieuwerburgh NNP cord-035342-sf0zld5z 567 18 and and CC cord-035342-sf0zld5z 567 19 Veldkamp Veldkamp NNP cord-035342-sf0zld5z 567 20 ( ( -LRB- cord-035342-sf0zld5z 567 21 2009 2009 CD cord-035342-sf0zld5z 567 22 ) ) -RRB- cord-035342-sf0zld5z 567 23 , , , cord-035342-sf0zld5z 567 24 though though IN cord-035342-sf0zld5z 567 25 the the DT cord-035342-sf0zld5z 567 26 two two CD cord-035342-sf0zld5z 567 27 findings finding NNS cord-035342-sf0zld5z 567 28 have have VBP cord-035342-sf0zld5z 567 29 to to TO cord-035342-sf0zld5z 567 30 be be VB cord-035342-sf0zld5z 567 31 distinguished distinguish VBN cord-035342-sf0zld5z 567 32 . . . cord-035342-sf0zld5z 568 1 For for IN cord-035342-sf0zld5z 568 2 both both DT cord-035342-sf0zld5z 568 3 studies study NNS cord-035342-sf0zld5z 568 4 learning learning NN cord-035342-sf0zld5z 568 5 is be VBZ cord-035342-sf0zld5z 568 6 important important JJ cord-035342-sf0zld5z 568 7 for for IN cord-035342-sf0zld5z 568 8 portfolio portfolio NN cord-035342-sf0zld5z 568 9 choice choice NN cord-035342-sf0zld5z 568 10 . . . cord-035342-sf0zld5z 569 1 However however RB cord-035342-sf0zld5z 569 2 , , , cord-035342-sf0zld5z 569 3 van van NNP cord-035342-sf0zld5z 569 4 Nieuwerburgh Nieuwerburgh NNP cord-035342-sf0zld5z 569 5 and and CC cord-035342-sf0zld5z 569 6 Veldkamp Veldkamp NNP cord-035342-sf0zld5z 569 7 ( ( -LRB- cord-035342-sf0zld5z 569 8 2009 2009 CD cord-035342-sf0zld5z 569 9 ) ) -RRB- cord-035342-sf0zld5z 569 10 study study NN cord-035342-sf0zld5z 569 11 learning learning NN cord-035342-sf0zld5z 569 12 and and CC cord-035342-sf0zld5z 569 13 information information NN cord-035342-sf0zld5z 569 14 which which WDT cord-035342-sf0zld5z 569 15 always always RB cord-035342-sf0zld5z 569 16 results result VBZ cord-035342-sf0zld5z 569 17 in in IN cord-035342-sf0zld5z 569 18 an an DT cord-035342-sf0zld5z 569 19 information information NN cord-035342-sf0zld5z 569 20 advantage advantage NN cord-035342-sf0zld5z 569 21 . . . cord-035342-sf0zld5z 570 1 Abreu Abreu NNP cord-035342-sf0zld5z 570 2 et et NNP cord-035342-sf0zld5z 570 3 al al NNP cord-035342-sf0zld5z 570 4 . . . cord-035342-sf0zld5z 571 1 ( ( -LRB- cord-035342-sf0zld5z 571 2 2011 2011 LS cord-035342-sf0zld5z 571 3 ) ) -RRB- cord-035342-sf0zld5z 571 4 use use VBP cord-035342-sf0zld5z 571 5 a a DT cord-035342-sf0zld5z 571 6 more more RBR cord-035342-sf0zld5z 571 7 general general JJ cord-035342-sf0zld5z 571 8 setting setting NN cord-035342-sf0zld5z 571 9 about about IN cord-035342-sf0zld5z 571 10 learning learning NN cord-035342-sf0zld5z 571 11 and and CC cord-035342-sf0zld5z 571 12 competence competence NN cord-035342-sf0zld5z 571 13 perception perception NN cord-035342-sf0zld5z 571 14 , , , cord-035342-sf0zld5z 571 15 no no RB cord-035342-sf0zld5z 571 16 matter matter RB cord-035342-sf0zld5z 571 17 whether whether IN cord-035342-sf0zld5z 571 18 there there EX cord-035342-sf0zld5z 571 19 are be VBP cord-035342-sf0zld5z 571 20 any any DT cord-035342-sf0zld5z 571 21 competence competence NN cord-035342-sf0zld5z 571 22 - - HYPH cord-035342-sf0zld5z 571 23 based base VBN cord-035342-sf0zld5z 571 24 informational informational JJ cord-035342-sf0zld5z 571 25 advantages advantage NNS cord-035342-sf0zld5z 571 26 which which WDT cord-035342-sf0zld5z 571 27 may may MD cord-035342-sf0zld5z 571 28 induce induce VB cord-035342-sf0zld5z 571 29 a a DT cord-035342-sf0zld5z 571 30 better well JJR cord-035342-sf0zld5z 571 31 performance performance NN cord-035342-sf0zld5z 571 32 . . . cord-035342-sf0zld5z 572 1 This this DT cord-035342-sf0zld5z 572 2 difference difference NN cord-035342-sf0zld5z 572 3 demonstrates demonstrate VBZ cord-035342-sf0zld5z 572 4 the the DT cord-035342-sf0zld5z 572 5 importance importance NN cord-035342-sf0zld5z 572 6 of of IN cord-035342-sf0zld5z 572 7 why why WRB cord-035342-sf0zld5z 572 8 we -PRON- PRP cord-035342-sf0zld5z 572 9 distinguish distinguish VBP cord-035342-sf0zld5z 572 10 between between IN cord-035342-sf0zld5z 572 11 behavioural behavioural JJ cord-035342-sf0zld5z 572 12 respectively respectively RB cord-035342-sf0zld5z 572 13 personal personal JJ cord-035342-sf0zld5z 572 14 reasons reason NNS cord-035342-sf0zld5z 572 15 and and CC cord-035342-sf0zld5z 572 16 information information NN cord-035342-sf0zld5z 572 17 - - HYPH cord-035342-sf0zld5z 572 18 based base VBN cord-035342-sf0zld5z 572 19 reasons reason NNS cord-035342-sf0zld5z 572 20 for for IN cord-035342-sf0zld5z 572 21 home home NN cord-035342-sf0zld5z 572 22 bias bias NN cord-035342-sf0zld5z 572 23 . . . cord-035342-sf0zld5z 573 1 Some some DT cord-035342-sf0zld5z 573 2 other other JJ cord-035342-sf0zld5z 573 3 studies study NNS cord-035342-sf0zld5z 573 4 merely merely RB cord-035342-sf0zld5z 573 5 examine examine VBP cord-035342-sf0zld5z 573 6 the the DT cord-035342-sf0zld5z 573 7 experience experience NN cord-035342-sf0zld5z 573 8 of of IN cord-035342-sf0zld5z 573 9 investors investor NNS cord-035342-sf0zld5z 573 10 . . . cord-035342-sf0zld5z 574 1 Measuring measure VBG cord-035342-sf0zld5z 574 2 experience experience NN cord-035342-sf0zld5z 574 3 by by IN cord-035342-sf0zld5z 574 4 the the DT cord-035342-sf0zld5z 574 5 age age NN cord-035342-sf0zld5z 574 6 variable variable NN cord-035342-sf0zld5z 574 7 ( ( -LRB- cord-035342-sf0zld5z 574 8 high high JJ cord-035342-sf0zld5z 574 9 age age NN cord-035342-sf0zld5z 574 10 is be VBZ cord-035342-sf0zld5z 574 11 equivalent equivalent JJ cord-035342-sf0zld5z 574 12 to to IN cord-035342-sf0zld5z 574 13 a a DT cord-035342-sf0zld5z 574 14 high high JJ cord-035342-sf0zld5z 574 15 experience experience NN cord-035342-sf0zld5z 574 16 level level NN cord-035342-sf0zld5z 574 17 ) ) -RRB- cord-035342-sf0zld5z 575 1 the the DT cord-035342-sf0zld5z 575 2 degree degree NN cord-035342-sf0zld5z 575 3 of of IN cord-035342-sf0zld5z 575 4 home home NN cord-035342-sf0zld5z 575 5 bias bias NN cord-035342-sf0zld5z 575 6 decreases decrease VBZ cord-035342-sf0zld5z 575 7 with with IN cord-035342-sf0zld5z 575 8 the the DT cord-035342-sf0zld5z 575 9 age age NN cord-035342-sf0zld5z 575 10 of of IN cord-035342-sf0zld5z 575 11 the the DT cord-035342-sf0zld5z 575 12 investor investor NN cord-035342-sf0zld5z 575 13 ( ( -LRB- cord-035342-sf0zld5z 575 14 Lehmann Lehmann NNP cord-035342-sf0zld5z 575 15 - - HYPH cord-035342-sf0zld5z 575 16 Hasemeyer Hasemeyer NNP cord-035342-sf0zld5z 575 17 and and CC cord-035342-sf0zld5z 575 18 Neumayer Neumayer NNP cord-035342-sf0zld5z 575 19 2019 2019 CD cord-035342-sf0zld5z 575 20 ) ) -RRB- cord-035342-sf0zld5z 575 21 . . . cord-035342-sf0zld5z 576 1 This this DT cord-035342-sf0zld5z 576 2 result result NN cord-035342-sf0zld5z 576 3 is be VBZ cord-035342-sf0zld5z 576 4 contrary contrary JJ cord-035342-sf0zld5z 576 5 to to IN cord-035342-sf0zld5z 576 6 Lütje Lütje NNP cord-035342-sf0zld5z 576 7 and and CC cord-035342-sf0zld5z 576 8 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 576 9 ( ( -LRB- cord-035342-sf0zld5z 576 10 2007 2007 CD cord-035342-sf0zld5z 576 11 ) ) -RRB- cord-035342-sf0zld5z 576 12 who who WP cord-035342-sf0zld5z 576 13 consider consider VBP cord-035342-sf0zld5z 576 14 the the DT cord-035342-sf0zld5z 576 15 age age NN cord-035342-sf0zld5z 576 16 as as IN cord-035342-sf0zld5z 576 17 a a DT cord-035342-sf0zld5z 576 18 determinant determinant NN cord-035342-sf0zld5z 576 19 of of IN cord-035342-sf0zld5z 576 20 risk risk NN cord-035342-sf0zld5z 576 21 aversion aversion NN cord-035342-sf0zld5z 576 22 and and CC cord-035342-sf0zld5z 576 23 thus thus RB cord-035342-sf0zld5z 576 24 conclude conclude VB cord-035342-sf0zld5z 576 25 that that IN cord-035342-sf0zld5z 576 26 home home NN cord-035342-sf0zld5z 576 27 bias bias NN cord-035342-sf0zld5z 576 28 increases increase VBZ cord-035342-sf0zld5z 576 29 with with IN cord-035342-sf0zld5z 576 30 advancing advance VBG cord-035342-sf0zld5z 576 31 age age NN cord-035342-sf0zld5z 576 32 . . . cord-035342-sf0zld5z 577 1 They -PRON- PRP cord-035342-sf0zld5z 577 2 do do VBP cord-035342-sf0zld5z 577 3 not not RB cord-035342-sf0zld5z 577 4 relate relate VB cord-035342-sf0zld5z 577 5 age age NN cord-035342-sf0zld5z 577 6 to to TO cord-035342-sf0zld5z 577 7 experience experience VB cord-035342-sf0zld5z 577 8 . . . cord-035342-sf0zld5z 578 1 But but CC cord-035342-sf0zld5z 578 2 , , , cord-035342-sf0zld5z 578 3 Lütje Lütje NNP cord-035342-sf0zld5z 578 4 and and CC cord-035342-sf0zld5z 578 5 Menkhoff Menkhoff NNP cord-035342-sf0zld5z 578 6 ( ( -LRB- cord-035342-sf0zld5z 578 7 2007 2007 CD cord-035342-sf0zld5z 578 8 ) ) -RRB- cord-035342-sf0zld5z 578 9 also also RB cord-035342-sf0zld5z 578 10 report report VBP cord-035342-sf0zld5z 578 11 that that IN cord-035342-sf0zld5z 578 12 investors investor NNS cord-035342-sf0zld5z 578 13 with with IN cord-035342-sf0zld5z 578 14 less less JJR cord-035342-sf0zld5z 578 15 experience experience NN cord-035342-sf0zld5z 578 16 exhibit exhibit NN cord-035342-sf0zld5z 578 17 more more JJR cord-035342-sf0zld5z 578 18 home home NN cord-035342-sf0zld5z 578 19 bias bias NN cord-035342-sf0zld5z 578 20 . . . cord-035342-sf0zld5z 579 1 Both both DT cord-035342-sf0zld5z 579 2 Karlsson Karlsson NNP cord-035342-sf0zld5z 579 3 and and CC cord-035342-sf0zld5z 579 4 Nordén Nordén NNP cord-035342-sf0zld5z 579 5 ( ( -LRB- cord-035342-sf0zld5z 579 6 2007 2007 CD cord-035342-sf0zld5z 579 7 ) ) -RRB- cord-035342-sf0zld5z 579 8 for for IN cord-035342-sf0zld5z 579 9 home home NN cord-035342-sf0zld5z 579 10 bias bias NN cord-035342-sf0zld5z 579 11 and and CC cord-035342-sf0zld5z 579 12 Pool Pool NNP cord-035342-sf0zld5z 579 13 et et NNP cord-035342-sf0zld5z 579 14 al al NNP cord-035342-sf0zld5z 579 15 . . . cord-035342-sf0zld5z 580 1 ( ( -LRB- cord-035342-sf0zld5z 580 2 2012 2012 CD cord-035342-sf0zld5z 580 3 ) ) -RRB- cord-035342-sf0zld5z 580 4 for for IN cord-035342-sf0zld5z 580 5 local local JJ cord-035342-sf0zld5z 580 6 bias bias NN cord-035342-sf0zld5z 580 7 document document NN cord-035342-sf0zld5z 580 8 that that WDT cord-035342-sf0zld5z 580 9 less less JJR cord-035342-sf0zld5z 580 10 experience experience NN cord-035342-sf0zld5z 580 11 has have VBZ cord-035342-sf0zld5z 580 12 a a DT cord-035342-sf0zld5z 580 13 positive positive JJ cord-035342-sf0zld5z 580 14 impact impact NN cord-035342-sf0zld5z 580 15 on on IN cord-035342-sf0zld5z 580 16 the the DT cord-035342-sf0zld5z 580 17 bias bias NN cord-035342-sf0zld5z 580 18 . . . cord-035342-sf0zld5z 581 1 The the DT cord-035342-sf0zld5z 581 2 opposition opposition NN cord-035342-sf0zld5z 581 3 in in IN cord-035342-sf0zld5z 581 4 the the DT cord-035342-sf0zld5z 581 5 findings finding NNS cord-035342-sf0zld5z 581 6 about about IN cord-035342-sf0zld5z 581 7 age age NN cord-035342-sf0zld5z 581 8 and and CC cord-035342-sf0zld5z 581 9 home home NN cord-035342-sf0zld5z 581 10 bias bias NN cord-035342-sf0zld5z 581 11 can can MD cord-035342-sf0zld5z 581 12 not not RB cord-035342-sf0zld5z 581 13 be be VB cord-035342-sf0zld5z 581 14 resolved resolve VBN cord-035342-sf0zld5z 581 15 . . . cord-035342-sf0zld5z 582 1 Presumably presumably RB cord-035342-sf0zld5z 582 2 , , , cord-035342-sf0zld5z 582 3 the the DT cord-035342-sf0zld5z 582 4 impact impact NN cord-035342-sf0zld5z 582 5 of of IN cord-035342-sf0zld5z 582 6 age age NN cord-035342-sf0zld5z 582 7 on on IN cord-035342-sf0zld5z 582 8 home home NN cord-035342-sf0zld5z 582 9 bias bias NN cord-035342-sf0zld5z 582 10 is be VBZ cord-035342-sf0zld5z 582 11 dependent dependent JJ cord-035342-sf0zld5z 582 12 on on IN cord-035342-sf0zld5z 582 13 the the DT cord-035342-sf0zld5z 582 14 fact fact NN cord-035342-sf0zld5z 582 15 whether whether IN cord-035342-sf0zld5z 582 16 risk risk NN cord-035342-sf0zld5z 582 17 aversion aversion NN cord-035342-sf0zld5z 582 18 or or CC cord-035342-sf0zld5z 582 19 experience experience NN cord-035342-sf0zld5z 582 20 is be VBZ cord-035342-sf0zld5z 582 21 stronger strong JJR cord-035342-sf0zld5z 582 22 at at IN cord-035342-sf0zld5z 582 23 influencing influence VBG cord-035342-sf0zld5z 582 24 home home NN cord-035342-sf0zld5z 582 25 bias bias NN cord-035342-sf0zld5z 582 26 . . . cord-035342-sf0zld5z 583 1 Closely closely RB cord-035342-sf0zld5z 583 2 related related JJ cord-035342-sf0zld5z 583 3 to to IN cord-035342-sf0zld5z 583 4 experience experience NN cord-035342-sf0zld5z 583 5 and and CC cord-035342-sf0zld5z 583 6 competence competence NN cord-035342-sf0zld5z 583 7 is be VBZ cord-035342-sf0zld5z 583 8 financial financial JJ cord-035342-sf0zld5z 583 9 literacy literacy NN cord-035342-sf0zld5z 583 10 which which WDT cord-035342-sf0zld5z 583 11 is be VBZ cord-035342-sf0zld5z 583 12 examined examine VBN cord-035342-sf0zld5z 583 13 in in IN cord-035342-sf0zld5z 583 14 many many JJ cord-035342-sf0zld5z 583 15 studies study NNS cord-035342-sf0zld5z 583 16 and and CC cord-035342-sf0zld5z 583 17 might may MD cord-035342-sf0zld5z 583 18 be be VB cord-035342-sf0zld5z 583 19 related relate VBN cord-035342-sf0zld5z 583 20 to to IN cord-035342-sf0zld5z 583 21 home home NN cord-035342-sf0zld5z 583 22 bias bias NN cord-035342-sf0zld5z 583 23 . . . cord-035342-sf0zld5z 584 1 Financial financial JJ cord-035342-sf0zld5z 584 2 literacy literacy NN cord-035342-sf0zld5z 584 3 especially especially RB cord-035342-sf0zld5z 584 4 determines determine VBZ cord-035342-sf0zld5z 584 5 the the DT cord-035342-sf0zld5z 584 6 degree degree NN cord-035342-sf0zld5z 584 7 of of IN cord-035342-sf0zld5z 584 8 advice advice NN cord-035342-sf0zld5z 584 9 seeking seeking NN cord-035342-sf0zld5z 584 10 of of IN cord-035342-sf0zld5z 584 11 investors investor NNS cord-035342-sf0zld5z 584 12 . . . cord-035342-sf0zld5z 585 1 Investing invest VBG cord-035342-sf0zld5z 585 2 abroad abroad RB cord-035342-sf0zld5z 585 3 without without IN cord-035342-sf0zld5z 585 4 consulting consult VBG cord-035342-sf0zld5z 585 5 advisors advisor NNS cord-035342-sf0zld5z 585 6 is be VBZ cord-035342-sf0zld5z 585 7 generally generally RB cord-035342-sf0zld5z 585 8 considered consider VBN cord-035342-sf0zld5z 585 9 risky risky JJ cord-035342-sf0zld5z 585 10 . . . cord-035342-sf0zld5z 586 1 Calcagno Calcagno NNP cord-035342-sf0zld5z 586 2 and and CC cord-035342-sf0zld5z 586 3 Monticone Monticone NNP cord-035342-sf0zld5z 586 4 ( ( -LRB- cord-035342-sf0zld5z 586 5 2015 2015 CD cord-035342-sf0zld5z 586 6 ) ) -RRB- cord-035342-sf0zld5z 586 7 point point NN cord-035342-sf0zld5z 586 8 out out RP cord-035342-sf0zld5z 586 9 that that IN cord-035342-sf0zld5z 586 10 financial financial JJ cord-035342-sf0zld5z 586 11 literate literate JJ cord-035342-sf0zld5z 586 12 people people NNS cord-035342-sf0zld5z 586 13 consult consult VBP cord-035342-sf0zld5z 586 14 advisors advisor NNS cord-035342-sf0zld5z 586 15 with with IN cord-035342-sf0zld5z 586 16 a a DT cord-035342-sf0zld5z 586 17 higher high JJR cord-035342-sf0zld5z 586 18 probability probability NN cord-035342-sf0zld5z 586 19 . . . cord-035342-sf0zld5z 587 1 This this DT cord-035342-sf0zld5z 587 2 means mean VBZ cord-035342-sf0zld5z 587 3 that that IN cord-035342-sf0zld5z 587 4 advisors advisor NNS cord-035342-sf0zld5z 587 5 do do VBP cord-035342-sf0zld5z 587 6 not not RB cord-035342-sf0zld5z 587 7 resolve resolve VB cord-035342-sf0zld5z 587 8 the the DT cord-035342-sf0zld5z 587 9 problem problem NN cord-035342-sf0zld5z 587 10 of of IN cord-035342-sf0zld5z 587 11 low low JJ cord-035342-sf0zld5z 587 12 financial financial JJ cord-035342-sf0zld5z 587 13 literate literate JJ cord-035342-sf0zld5z 587 14 investors investor NNS cord-035342-sf0zld5z 587 15 who who WP cord-035342-sf0zld5z 587 16 rely rely VBP cord-035342-sf0zld5z 587 17 on on IN cord-035342-sf0zld5z 587 18 their -PRON- PRP$ cord-035342-sf0zld5z 587 19 own own JJ cord-035342-sf0zld5z 587 20 competence competence NN cord-035342-sf0zld5z 587 21 . . . cord-035342-sf0zld5z 588 1 Kramer Kramer NNP cord-035342-sf0zld5z 588 2 ( ( -LRB- cord-035342-sf0zld5z 588 3 2016 2016 CD cord-035342-sf0zld5z 588 4 ) ) -RRB- cord-035342-sf0zld5z 588 5 differentiates differentiate VBZ cord-035342-sf0zld5z 588 6 between between IN cord-035342-sf0zld5z 588 7 perceived perceived JJ cord-035342-sf0zld5z 588 8 and and CC cord-035342-sf0zld5z 588 9 objective objective JJ cord-035342-sf0zld5z 588 10 literacy literacy NN cord-035342-sf0zld5z 588 11 . . . cord-035342-sf0zld5z 589 1 Investors investor NNS cord-035342-sf0zld5z 589 2 who who WP cord-035342-sf0zld5z 589 3 are be VBP cord-035342-sf0zld5z 589 4 confident confident JJ cord-035342-sf0zld5z 589 5 about about IN cord-035342-sf0zld5z 589 6 their -PRON- PRP$ cord-035342-sf0zld5z 589 7 literacy literacy NN cord-035342-sf0zld5z 589 8 ' ' '' cord-035342-sf0zld5z 589 9 are be VBP cord-035342-sf0zld5z 589 10 less less RBR cord-035342-sf0zld5z 589 11 likely likely JJ cord-035342-sf0zld5z 589 12 to to TO cord-035342-sf0zld5z 589 13 seek seek VB cord-035342-sf0zld5z 589 14 financial financial JJ cord-035342-sf0zld5z 589 15 advice advice NN cord-035342-sf0zld5z 589 16 ' ' '' cord-035342-sf0zld5z 589 17 , , , cord-035342-sf0zld5z 589 18 however however RB cord-035342-sf0zld5z 589 19 referring refer VBG cord-035342-sf0zld5z 589 20 to to IN cord-035342-sf0zld5z 589 21 a a DT cord-035342-sf0zld5z 589 22 objective objective JJ cord-035342-sf0zld5z 589 23 measure measure NN cord-035342-sf0zld5z 589 24 no no DT cord-035342-sf0zld5z 589 25 relation relation NN cord-035342-sf0zld5z 589 26 can can MD cord-035342-sf0zld5z 589 27 be be VB cord-035342-sf0zld5z 589 28 found find VBN cord-035342-sf0zld5z 589 29 . . . cord-035342-sf0zld5z 590 1 The the DT cord-035342-sf0zld5z 590 2 advice advice NN cord-035342-sf0zld5z 590 3 from from IN cord-035342-sf0zld5z 590 4 banks bank NNS cord-035342-sf0zld5z 590 5 to to IN cord-035342-sf0zld5z 590 6 ( ( -LRB- cord-035342-sf0zld5z 590 7 in in IN cord-035342-sf0zld5z 590 8 particular particular JJ cord-035342-sf0zld5z 590 9 illiterate illiterate JJ cord-035342-sf0zld5z 590 10 ) ) -RRB- cord-035342-sf0zld5z 590 11 investors investor NNS cord-035342-sf0zld5z 590 12 seems seem VBZ cord-035342-sf0zld5z 590 13 not not RB cord-035342-sf0zld5z 590 14 to to TO cord-035342-sf0zld5z 590 15 be be VB cord-035342-sf0zld5z 590 16 the the DT cord-035342-sf0zld5z 590 17 best good JJS cord-035342-sf0zld5z 590 18 for for IN cord-035342-sf0zld5z 590 19 fulfilling fulfil VBG cord-035342-sf0zld5z 590 20 the the DT cord-035342-sf0zld5z 590 21 individual individual JJ cord-035342-sf0zld5z 590 22 investors investor NNS cord-035342-sf0zld5z 590 23 ' ' POS cord-035342-sf0zld5z 590 24 goals goal NNS cord-035342-sf0zld5z 590 25 ( ( -LRB- cord-035342-sf0zld5z 590 26 Mietzner Mietzner NNP cord-035342-sf0zld5z 590 27 and and CC cord-035342-sf0zld5z 590 28 Molterer Molterer NNP cord-035342-sf0zld5z 590 29 2018 2018 CD cord-035342-sf0zld5z 590 30 ) ) -RRB- cord-035342-sf0zld5z 590 31 . . . cord-035342-sf0zld5z 591 1 This this DT cord-035342-sf0zld5z 591 2 statement statement NN cord-035342-sf0zld5z 591 3 is be VBZ cord-035342-sf0zld5z 591 4 mainly mainly RB cord-035342-sf0zld5z 591 5 due due JJ cord-035342-sf0zld5z 591 6 to to IN cord-035342-sf0zld5z 591 7 high high JJ cord-035342-sf0zld5z 591 8 commission commission NN cord-035342-sf0zld5z 591 9 and and CC cord-035342-sf0zld5z 591 10 bank bank NN cord-035342-sf0zld5z 591 11 fees fee NNS cord-035342-sf0zld5z 591 12 . . . cord-035342-sf0zld5z 592 1 Consequently consequently RB cord-035342-sf0zld5z 592 2 , , , cord-035342-sf0zld5z 592 3 on on IN cord-035342-sf0zld5z 592 4 the the DT cord-035342-sf0zld5z 592 5 one one CD cord-035342-sf0zld5z 592 6 hand hand NN cord-035342-sf0zld5z 592 7 being be VBG cord-035342-sf0zld5z 592 8 financial financial JJ cord-035342-sf0zld5z 592 9 illiterate illiterate JJ cord-035342-sf0zld5z 592 10 and and CC cord-035342-sf0zld5z 592 11 lacking lacking JJ cord-035342-sf0zld5z 592 12 of of IN cord-035342-sf0zld5z 592 13 advice advice NN cord-035342-sf0zld5z 592 14 may may MD cord-035342-sf0zld5z 592 15 lead lead VB cord-035342-sf0zld5z 592 16 to to IN cord-035342-sf0zld5z 592 17 poor poor JJ cord-035342-sf0zld5z 592 18 diversification diversification NN cord-035342-sf0zld5z 592 19 , , , cord-035342-sf0zld5z 592 20 i. i. NNP cord-035342-sf0zld5z 592 21 e. e. NNP cord-035342-sf0zld5z 593 1 under under IN cord-035342-sf0zld5z 593 2 - - HYPH cord-035342-sf0zld5z 593 3 diversification diversification NN cord-035342-sf0zld5z 593 4 of of IN cord-035342-sf0zld5z 593 5 the the DT cord-035342-sf0zld5z 593 6 portfolio portfolio NN cord-035342-sf0zld5z 593 7 . . . cord-035342-sf0zld5z 594 1 Home home NN cord-035342-sf0zld5z 594 2 bias bias NN cord-035342-sf0zld5z 594 3 is be VBZ cord-035342-sf0zld5z 594 4 such such JJ cord-035342-sf0zld5z 594 5 type type NN cord-035342-sf0zld5z 594 6 of of IN cord-035342-sf0zld5z 594 7 poor poor JJ cord-035342-sf0zld5z 594 8 diversification diversification NN cord-035342-sf0zld5z 594 9 . . . cord-035342-sf0zld5z 595 1 On on IN cord-035342-sf0zld5z 595 2 the the DT cord-035342-sf0zld5z 595 3 other other JJ cord-035342-sf0zld5z 595 4 hand hand NN cord-035342-sf0zld5z 595 5 , , , cord-035342-sf0zld5z 595 6 the the DT cord-035342-sf0zld5z 595 7 received receive VBN cord-035342-sf0zld5z 595 8 advice advice NN cord-035342-sf0zld5z 595 9 may may MD cord-035342-sf0zld5z 595 10 not not RB cord-035342-sf0zld5z 595 11 always always RB cord-035342-sf0zld5z 595 12 be be VB cord-035342-sf0zld5z 595 13 beneficial beneficial JJ cord-035342-sf0zld5z 595 14 for for IN cord-035342-sf0zld5z 595 15 preventing prevent VBG cord-035342-sf0zld5z 595 16 biased biased JJ cord-035342-sf0zld5z 595 17 investment investment NN cord-035342-sf0zld5z 595 18 decisions decision NNS cord-035342-sf0zld5z 595 19 . . . cord-035342-sf0zld5z 596 1 However however RB cord-035342-sf0zld5z 596 2 , , , cord-035342-sf0zld5z 596 3 these these DT cord-035342-sf0zld5z 596 4 are be VBP cord-035342-sf0zld5z 596 5 just just RB cord-035342-sf0zld5z 596 6 assumptions assumption NNS cord-035342-sf0zld5z 596 7 and and CC cord-035342-sf0zld5z 596 8 not not RB cord-035342-sf0zld5z 596 9 empirically empirically RB cord-035342-sf0zld5z 596 10 fully fully RB cord-035342-sf0zld5z 596 11 proven prove VBN cord-035342-sf0zld5z 596 12 yet yet RB cord-035342-sf0zld5z 596 13 . . . cord-035342-sf0zld5z 597 1 Therefore therefore RB cord-035342-sf0zld5z 597 2 , , , cord-035342-sf0zld5z 597 3 financial financial JJ cord-035342-sf0zld5z 597 4 literacy literacy NN cord-035342-sf0zld5z 597 5 and and CC cord-035342-sf0zld5z 597 6 resulting result VBG cord-035342-sf0zld5z 597 7 advice advice NN cord-035342-sf0zld5z 597 8 seeking seek VBG cord-035342-sf0zld5z 597 9 and and CC cord-035342-sf0zld5z 597 10 their -PRON- PRP$ cord-035342-sf0zld5z 597 11 potential potential JJ cord-035342-sf0zld5z 597 12 influence influence NN cord-035342-sf0zld5z 597 13 on on IN cord-035342-sf0zld5z 597 14 home home NN cord-035342-sf0zld5z 597 15 and and CC cord-035342-sf0zld5z 597 16 local local JJ cord-035342-sf0zld5z 597 17 bias bias NN cord-035342-sf0zld5z 597 18 should should MD cord-035342-sf0zld5z 597 19 be be VB cord-035342-sf0zld5z 597 20 studied study VBN cord-035342-sf0zld5z 597 21 in in IN cord-035342-sf0zld5z 597 22 future future JJ cord-035342-sf0zld5z 597 23 research research NN cord-035342-sf0zld5z 597 24 . . . cord-035342-sf0zld5z 598 1 In in IN cord-035342-sf0zld5z 598 2 a a DT cord-035342-sf0zld5z 598 3 single single JJ cord-035342-sf0zld5z 598 4 study study NN cord-035342-sf0zld5z 598 5 , , , cord-035342-sf0zld5z 598 6 von von NNP cord-035342-sf0zld5z 598 7 Gaudecker Gaudecker NNP cord-035342-sf0zld5z 598 8 ( ( -LRB- cord-035342-sf0zld5z 598 9 2015 2015 CD cord-035342-sf0zld5z 598 10 ) ) -RRB- cord-035342-sf0zld5z 598 11 proves prove VBZ cord-035342-sf0zld5z 598 12 that that IN cord-035342-sf0zld5z 598 13 both both DT cord-035342-sf0zld5z 598 14 financial financial JJ cord-035342-sf0zld5z 598 15 literate literate JJ cord-035342-sf0zld5z 598 16 households household NNS cord-035342-sf0zld5z 598 17 and and CC cord-035342-sf0zld5z 598 18 those those DT cord-035342-sf0zld5z 598 19 who who WP cord-035342-sf0zld5z 598 20 seek seek VBP cord-035342-sf0zld5z 598 21 advice advice NN cord-035342-sf0zld5z 598 22 show show VBP cord-035342-sf0zld5z 598 23 a a DT cord-035342-sf0zld5z 598 24 lower low JJR cord-035342-sf0zld5z 598 25 degree degree NN cord-035342-sf0zld5z 598 26 of of IN cord-035342-sf0zld5z 598 27 under under NN cord-035342-sf0zld5z 598 28 - - HYPH cord-035342-sf0zld5z 598 29 diversification diversification NN cord-035342-sf0zld5z 598 30 and and CC cord-035342-sf0zld5z 598 31 thus thus RB cord-035342-sf0zld5z 598 32 their -PRON- PRP$ cord-035342-sf0zld5z 598 33 investment investment NN cord-035342-sf0zld5z 598 34 outcomes outcome NNS cord-035342-sf0zld5z 598 35 are be VBP cord-035342-sf0zld5z 598 36 better well JJR cord-035342-sf0zld5z 598 37 . . . cord-035342-sf0zld5z 599 1 This this DT cord-035342-sf0zld5z 599 2 study study NN cord-035342-sf0zld5z 599 3 can can MD cord-035342-sf0zld5z 599 4 be be VB cord-035342-sf0zld5z 599 5 the the DT cord-035342-sf0zld5z 599 6 starting starting NN cord-035342-sf0zld5z 599 7 point point NN cord-035342-sf0zld5z 599 8 for for IN cord-035342-sf0zld5z 599 9 future future JJ cord-035342-sf0zld5z 599 10 research research NN cord-035342-sf0zld5z 599 11 by by IN cord-035342-sf0zld5z 599 12 relating relate VBG cord-035342-sf0zld5z 599 13 under under IN cord-035342-sf0zld5z 599 14 - - HYPH cord-035342-sf0zld5z 599 15 diversification diversification NN cord-035342-sf0zld5z 599 16 more more RBR cord-035342-sf0zld5z 599 17 detailed detailed JJ cord-035342-sf0zld5z 599 18 to to IN cord-035342-sf0zld5z 599 19 home home NN cord-035342-sf0zld5z 599 20 bias bias NN cord-035342-sf0zld5z 599 21 as as IN cord-035342-sf0zld5z 599 22 a a DT cord-035342-sf0zld5z 599 23 specific specific JJ cord-035342-sf0zld5z 599 24 type type NN cord-035342-sf0zld5z 599 25 of of IN cord-035342-sf0zld5z 599 26 poor poor JJ cord-035342-sf0zld5z 599 27 diversification diversification NN cord-035342-sf0zld5z 599 28 . . . cord-035342-sf0zld5z 600 1 All all RB cord-035342-sf0zld5z 600 2 in in IN cord-035342-sf0zld5z 600 3 all all DT cord-035342-sf0zld5z 600 4 , , , cord-035342-sf0zld5z 600 5 there there EX cord-035342-sf0zld5z 600 6 is be VBZ cord-035342-sf0zld5z 600 7 much much JJ cord-035342-sf0zld5z 600 8 evidence evidence NN cord-035342-sf0zld5z 600 9 that that IN cord-035342-sf0zld5z 600 10 competence competence NN cord-035342-sf0zld5z 600 11 and and CC cord-035342-sf0zld5z 600 12 experience experience NN cord-035342-sf0zld5z 600 13 do do VBP cord-035342-sf0zld5z 600 14 have have VB cord-035342-sf0zld5z 600 15 an an DT cord-035342-sf0zld5z 600 16 impact impact NN cord-035342-sf0zld5z 600 17 on on IN cord-035342-sf0zld5z 600 18 home home NN cord-035342-sf0zld5z 600 19 bias bias NN cord-035342-sf0zld5z 600 20 . . . cord-035342-sf0zld5z 601 1 It -PRON- PRP cord-035342-sf0zld5z 601 2 seems seem VBZ cord-035342-sf0zld5z 601 3 reasonable reasonable JJ cord-035342-sf0zld5z 601 4 to to TO cord-035342-sf0zld5z 601 5 argue argue VB cord-035342-sf0zld5z 601 6 that that IN cord-035342-sf0zld5z 601 7 investors investor NNS cord-035342-sf0zld5z 601 8 feel feel VBP cord-035342-sf0zld5z 601 9 more more RBR cord-035342-sf0zld5z 601 10 competent competent JJ cord-035342-sf0zld5z 601 11 about about IN cord-035342-sf0zld5z 601 12 domestic domestic JJ cord-035342-sf0zld5z 601 13 assets asset NNS cord-035342-sf0zld5z 601 14 and and CC cord-035342-sf0zld5z 601 15 therefore therefore RB cord-035342-sf0zld5z 601 16 are be VBP cord-035342-sf0zld5z 601 17 home home NN cord-035342-sf0zld5z 601 18 - - HYPH cord-035342-sf0zld5z 601 19 biased biased JJ cord-035342-sf0zld5z 601 20 . . . cord-035342-sf0zld5z 602 1 The the DT cord-035342-sf0zld5z 602 2 influence influence NN cord-035342-sf0zld5z 602 3 of of IN cord-035342-sf0zld5z 602 4 experience experience NN cord-035342-sf0zld5z 602 5 is be VBZ cord-035342-sf0zld5z 602 6 obvious obvious JJ cord-035342-sf0zld5z 602 7 and and CC cord-035342-sf0zld5z 602 8 confirmed confirm VBD cord-035342-sf0zld5z 602 9 as as RB cord-035342-sf0zld5z 602 10 well well RB cord-035342-sf0zld5z 602 11 : : : cord-035342-sf0zld5z 603 1 Less Less JJR cord-035342-sf0zld5z 603 2 experience experience NN cord-035342-sf0zld5z 603 3 leads lead VBZ cord-035342-sf0zld5z 603 4 to to IN cord-035342-sf0zld5z 603 5 a a DT cord-035342-sf0zld5z 603 6 higher high JJR cord-035342-sf0zld5z 603 7 degree degree NN cord-035342-sf0zld5z 603 8 of of IN cord-035342-sf0zld5z 603 9 home home NN cord-035342-sf0zld5z 603 10 bias bias NN cord-035342-sf0zld5z 603 11 . . . cord-035342-sf0zld5z 604 1 The the DT cord-035342-sf0zld5z 604 2 influence influence NN cord-035342-sf0zld5z 604 3 of of IN cord-035342-sf0zld5z 604 4 age age NN cord-035342-sf0zld5z 604 5 is be VBZ cord-035342-sf0zld5z 604 6 ambiguous ambiguous JJ cord-035342-sf0zld5z 604 7 , , , cord-035342-sf0zld5z 604 8 making make VBG cord-035342-sf0zld5z 604 9 no no DT cord-035342-sf0zld5z 604 10 conclusion conclusion NN cord-035342-sf0zld5z 604 11 possible possible JJ cord-035342-sf0zld5z 604 12 . . . cord-035342-sf0zld5z 605 1 There there EX cord-035342-sf0zld5z 605 2 are be VBP cord-035342-sf0zld5z 605 3 no no DT cord-035342-sf0zld5z 605 4 findings finding NNS cord-035342-sf0zld5z 605 5 about about IN cord-035342-sf0zld5z 605 6 competence competence NN cord-035342-sf0zld5z 605 7 and and CC cord-035342-sf0zld5z 605 8 local local JJ cord-035342-sf0zld5z 605 9 bias bias NN cord-035342-sf0zld5z 605 10 , , , cord-035342-sf0zld5z 605 11 it -PRON- PRP cord-035342-sf0zld5z 605 12 may may MD cord-035342-sf0zld5z 605 13 be be VB cord-035342-sf0zld5z 605 14 supposed suppose VBN cord-035342-sf0zld5z 605 15 that that IN cord-035342-sf0zld5z 605 16 the the DT cord-035342-sf0zld5z 605 17 results result NNS cord-035342-sf0zld5z 605 18 are be VBP cord-035342-sf0zld5z 605 19 also also RB cord-035342-sf0zld5z 605 20 valid valid JJ cord-035342-sf0zld5z 605 21 for for IN cord-035342-sf0zld5z 605 22 local local JJ cord-035342-sf0zld5z 605 23 bias bias NN cord-035342-sf0zld5z 605 24 . . . cord-035342-sf0zld5z 606 1 Lack lack NN cord-035342-sf0zld5z 606 2 of of IN cord-035342-sf0zld5z 606 3 experience experience NN cord-035342-sf0zld5z 606 4 has have VBZ cord-035342-sf0zld5z 606 5 a a DT cord-035342-sf0zld5z 606 6 positive positive JJ cord-035342-sf0zld5z 606 7 influence influence NN cord-035342-sf0zld5z 606 8 on on IN cord-035342-sf0zld5z 606 9 local local JJ cord-035342-sf0zld5z 606 10 bias bias NN cord-035342-sf0zld5z 606 11 . . . cord-035342-sf0zld5z 607 1 Concerning concern VBG cord-035342-sf0zld5z 607 2 financial financial JJ cord-035342-sf0zld5z 607 3 literacy literacy NN cord-035342-sf0zld5z 607 4 and and CC cord-035342-sf0zld5z 607 5 advice advice NN cord-035342-sf0zld5z 607 6 seeking seeking NN cord-035342-sf0zld5z 607 7 , , , cord-035342-sf0zld5z 607 8 there there EX cord-035342-sf0zld5z 607 9 is be VBZ cord-035342-sf0zld5z 607 10 no no DT cord-035342-sf0zld5z 607 11 direct direct JJ cord-035342-sf0zld5z 607 12 evidence evidence NN cord-035342-sf0zld5z 607 13 on on IN cord-035342-sf0zld5z 607 14 home home NN cord-035342-sf0zld5z 607 15 and and CC cord-035342-sf0zld5z 607 16 local local JJ cord-035342-sf0zld5z 607 17 bias bias NN cord-035342-sf0zld5z 607 18 , , , cord-035342-sf0zld5z 607 19 however however RB cord-035342-sf0zld5z 607 20 a a DT cord-035342-sf0zld5z 607 21 relation relation NN cord-035342-sf0zld5z 607 22 can can MD cord-035342-sf0zld5z 607 23 be be VB cord-035342-sf0zld5z 607 24 assumed assume VBN cord-035342-sf0zld5z 607 25 . . . cord-035342-sf0zld5z 608 1 Both both DT cord-035342-sf0zld5z 608 2 familiarity familiarity NN cord-035342-sf0zld5z 608 3 , , , cord-035342-sf0zld5z 608 4 patriotism patriotism NN cord-035342-sf0zld5z 608 5 and and CC cord-035342-sf0zld5z 608 6 loyalty loyalty NN cord-035342-sf0zld5z 608 7 are be VBP cord-035342-sf0zld5z 608 8 closely closely RB cord-035342-sf0zld5z 608 9 related related JJ cord-035342-sf0zld5z 608 10 to to IN cord-035342-sf0zld5z 608 11 each each DT cord-035342-sf0zld5z 608 12 other other JJ cord-035342-sf0zld5z 608 13 since since IN cord-035342-sf0zld5z 608 14 they -PRON- PRP cord-035342-sf0zld5z 608 15 all all DT cord-035342-sf0zld5z 608 16 perceive perceive VBP cord-035342-sf0zld5z 608 17 the the DT cord-035342-sf0zld5z 608 18 bond bond NN cord-035342-sf0zld5z 608 19 / / SYM cord-035342-sf0zld5z 608 20 solidarity solidarity NN cord-035342-sf0zld5z 608 21 of of IN cord-035342-sf0zld5z 608 22 investors investor NNS cord-035342-sf0zld5z 608 23 with with IN cord-035342-sf0zld5z 608 24 their -PRON- PRP$ cord-035342-sf0zld5z 608 25 country country NN cord-035342-sf0zld5z 608 26 . . . cord-035342-sf0zld5z 609 1 As as IN cord-035342-sf0zld5z 609 2 Grinblatt Grinblatt NNP cord-035342-sf0zld5z 609 3 and and CC cord-035342-sf0zld5z 609 4 Keloharju Keloharju NNP cord-035342-sf0zld5z 609 5 ( ( -LRB- cord-035342-sf0zld5z 609 6 2001 2001 CD cord-035342-sf0zld5z 609 7 ) ) -RRB- cord-035342-sf0zld5z 609 8 claim claim NN cord-035342-sf0zld5z 609 9 , , , cord-035342-sf0zld5z 609 10 familiarity familiarity NN cord-035342-sf0zld5z 609 11 and and CC cord-035342-sf0zld5z 609 12 patriotism patriotism NN cord-035342-sf0zld5z 609 13 are be VBP cord-035342-sf0zld5z 609 14 similar similar JJ cord-035342-sf0zld5z 609 15 and and CC cord-035342-sf0zld5z 609 16 hard hard JJ cord-035342-sf0zld5z 609 17 to to TO cord-035342-sf0zld5z 609 18 distinguish distinguish VB cord-035342-sf0zld5z 609 19 . . . cord-035342-sf0zld5z 610 1 Familiarity familiarity NN cord-035342-sf0zld5z 610 2 can can MD cord-035342-sf0zld5z 610 3 be be VB cord-035342-sf0zld5z 610 4 driven drive VBN cord-035342-sf0zld5z 610 5 by by IN cord-035342-sf0zld5z 610 6 information information NN cord-035342-sf0zld5z 610 7 advantages advantage NNS cord-035342-sf0zld5z 610 8 and and CC cord-035342-sf0zld5z 610 9 vice vice NN cord-035342-sf0zld5z 610 10 versa versa RB cord-035342-sf0zld5z 610 11 . . . cord-035342-sf0zld5z 611 1 Though though RB cord-035342-sf0zld5z 611 2 , , , cord-035342-sf0zld5z 611 3 familiarity familiarity NN cord-035342-sf0zld5z 611 4 is be VBZ cord-035342-sf0zld5z 611 5 often often RB cord-035342-sf0zld5z 611 6 examined examine VBN cord-035342-sf0zld5z 611 7 on on IN cord-035342-sf0zld5z 611 8 its -PRON- PRP$ cord-035342-sf0zld5z 611 9 own own JJ cord-035342-sf0zld5z 611 10 without without IN cord-035342-sf0zld5z 611 11 any any DT cord-035342-sf0zld5z 611 12 relation relation NN cord-035342-sf0zld5z 611 13 to to IN cord-035342-sf0zld5z 611 14 information information NN cord-035342-sf0zld5z 611 15 , , , cord-035342-sf0zld5z 611 16 labelled label VBN cord-035342-sf0zld5z 611 17 ' ' `` cord-035342-sf0zld5z 611 18 pure pure JJ cord-035342-sf0zld5z 611 19 familiarity familiarity NN cord-035342-sf0zld5z 611 20 ' ' '' cord-035342-sf0zld5z 611 21 or or CC cord-035342-sf0zld5z 611 22 behavioural behavioural JJ cord-035342-sf0zld5z 611 23 familiarity familiarity NN cord-035342-sf0zld5z 612 1 ( ( -LRB- cord-035342-sf0zld5z 612 2 Massa Massa NNP cord-035342-sf0zld5z 612 3 and and CC cord-035342-sf0zld5z 612 4 Simonov Simonov NNP cord-035342-sf0zld5z 612 5 2006 2006 CD cord-035342-sf0zld5z 612 6 ) ) -RRB- cord-035342-sf0zld5z 612 7 . . . cord-035342-sf0zld5z 613 1 Behavioural behavioural JJ cord-035342-sf0zld5z 613 2 familiarity familiarity NN cord-035342-sf0zld5z 613 3 of of IN cord-035342-sf0zld5z 613 4 investors investor NNS cord-035342-sf0zld5z 613 5 can can MD cord-035342-sf0zld5z 613 6 contribute contribute VB cord-035342-sf0zld5z 613 7 to to IN cord-035342-sf0zld5z 613 8 home home NN cord-035342-sf0zld5z 613 9 and and CC cord-035342-sf0zld5z 613 10 local local JJ cord-035342-sf0zld5z 613 11 bias bias NN cord-035342-sf0zld5z 613 12 as as RB cord-035342-sf0zld5z 613 13 well well RB cord-035342-sf0zld5z 613 14 , , , cord-035342-sf0zld5z 613 15 since since IN cord-035342-sf0zld5z 613 16 investors investor NNS cord-035342-sf0zld5z 613 17 are be VBP cord-035342-sf0zld5z 613 18 more more RBR cord-035342-sf0zld5z 613 19 familiar familiar JJ cord-035342-sf0zld5z 613 20 with with IN cord-035342-sf0zld5z 613 21 domestic domestic JJ cord-035342-sf0zld5z 613 22 / / SYM cord-035342-sf0zld5z 613 23 local local JJ cord-035342-sf0zld5z 613 24 assets asset NNS cord-035342-sf0zld5z 613 25 . . . cord-035342-sf0zld5z 614 1 The the DT cord-035342-sf0zld5z 614 2 characteristic characteristic NN cord-035342-sf0zld5z 614 3 of of IN cord-035342-sf0zld5z 614 4 pure pure JJ cord-035342-sf0zld5z 614 5 familiarity familiarity NN cord-035342-sf0zld5z 614 6 is be VBZ cord-035342-sf0zld5z 614 7 that that IN cord-035342-sf0zld5z 614 8 investors investor NNS cord-035342-sf0zld5z 614 9 show show VBP cord-035342-sf0zld5z 614 10 no no DT cord-035342-sf0zld5z 614 11 performance performance NN cord-035342-sf0zld5z 614 12 improvement improvement NN cord-035342-sf0zld5z 614 13 when when WRB cord-035342-sf0zld5z 614 14 investing invest VBG cord-035342-sf0zld5z 614 15 based base VBN cord-035342-sf0zld5z 614 16 on on IN cord-035342-sf0zld5z 614 17 pure pure JJ cord-035342-sf0zld5z 614 18 familiarity familiarity NN cord-035342-sf0zld5z 614 19 . . . cord-035342-sf0zld5z 615 1 Better well JJR cord-035342-sf0zld5z 615 2 performance performance NN cord-035342-sf0zld5z 615 3 would would MD cord-035342-sf0zld5z 615 4 only only RB cord-035342-sf0zld5z 615 5 occur occur VB cord-035342-sf0zld5z 615 6 if if IN cord-035342-sf0zld5z 615 7 investors investor NNS cord-035342-sf0zld5z 615 8 acted act VBD cord-035342-sf0zld5z 615 9 according accord VBG cord-035342-sf0zld5z 615 10 to to IN cord-035342-sf0zld5z 615 11 information information NN cord-035342-sf0zld5z 615 12 advantages advantage NNS cord-035342-sf0zld5z 615 13 and and CC cord-035342-sf0zld5z 615 14 information information NN cord-035342-sf0zld5z 615 15 - - HYPH cord-035342-sf0zld5z 615 16 based base VBN cord-035342-sf0zld5z 615 17 familiarity familiarity NN cord-035342-sf0zld5z 615 18 . . . cord-035342-sf0zld5z 616 1 Though though RB cord-035342-sf0zld5z 616 2 , , , cord-035342-sf0zld5z 616 3 different different JJ cord-035342-sf0zld5z 616 4 to to IN cord-035342-sf0zld5z 616 5 many many JJ cord-035342-sf0zld5z 616 6 studies study NNS cord-035342-sf0zld5z 616 7 , , , cord-035342-sf0zld5z 616 8 in in IN cord-035342-sf0zld5z 616 9 this this DT cord-035342-sf0zld5z 616 10 review review NN cord-035342-sf0zld5z 616 11 not not RB cord-035342-sf0zld5z 616 12 all all DT cord-035342-sf0zld5z 616 13 of of IN cord-035342-sf0zld5z 616 14 the the DT cord-035342-sf0zld5z 616 15 analyses analysis NNS cord-035342-sf0zld5z 616 16 , , , cord-035342-sf0zld5z 616 17 that that DT cord-035342-sf0zld5z 616 18 state state NN cord-035342-sf0zld5z 616 19 a a DT cord-035342-sf0zld5z 616 20 not not RB cord-035342-sf0zld5z 616 21 - - HYPH cord-035342-sf0zld5z 616 22 better well JJR cord-035342-sf0zld5z 616 23 performance performance NN cord-035342-sf0zld5z 616 24 of of IN cord-035342-sf0zld5z 616 25 biased biased JJ cord-035342-sf0zld5z 616 26 portfolios portfolio NNS cord-035342-sf0zld5z 616 27 , , , cord-035342-sf0zld5z 616 28 are be VBP cord-035342-sf0zld5z 616 29 considered consider VBN cord-035342-sf0zld5z 616 30 to to TO cord-035342-sf0zld5z 616 31 be be VB cord-035342-sf0zld5z 616 32 in in IN cord-035342-sf0zld5z 616 33 favour favour NN cord-035342-sf0zld5z 616 34 of of IN cord-035342-sf0zld5z 616 35 the the DT cord-035342-sf0zld5z 616 36 familiarity familiarity NN cord-035342-sf0zld5z 616 37 explanation explanation NN cord-035342-sf0zld5z 616 38 for for IN cord-035342-sf0zld5z 616 39 home home NN cord-035342-sf0zld5z 616 40 and and CC cord-035342-sf0zld5z 616 41 local local JJ cord-035342-sf0zld5z 616 42 bias bias NN cord-035342-sf0zld5z 616 43 but but CC cord-035342-sf0zld5z 616 44 have have VBP cord-035342-sf0zld5z 616 45 to to TO cord-035342-sf0zld5z 616 46 provide provide VB cord-035342-sf0zld5z 616 47 explicit explicit JJ cord-035342-sf0zld5z 616 48 evidence evidence NN cord-035342-sf0zld5z 616 49 that that IN cord-035342-sf0zld5z 616 50 pure pure JJ cord-035342-sf0zld5z 616 51 familiarity familiarity NN cord-035342-sf0zld5z 616 52 plays play VBZ cord-035342-sf0zld5z 616 53 a a DT cord-035342-sf0zld5z 616 54 significant significant JJ cord-035342-sf0zld5z 616 55 role role NN cord-035342-sf0zld5z 616 56 to to TO cord-035342-sf0zld5z 616 57 explain explain VB cord-035342-sf0zld5z 616 58 the the DT cord-035342-sf0zld5z 616 59 bias bias NN cord-035342-sf0zld5z 616 60 . . . cord-035342-sf0zld5z 617 1 Tse Tse NNP cord-035342-sf0zld5z 617 2 ( ( -LRB- cord-035342-sf0zld5z 617 3 1999 1999 CD cord-035342-sf0zld5z 617 4 ) ) -RRB- cord-035342-sf0zld5z 617 5 for for IN cord-035342-sf0zld5z 617 6 the the DT cord-035342-sf0zld5z 617 7 bond bond NN cord-035342-sf0zld5z 617 8 market market NN cord-035342-sf0zld5z 617 9 supports support VBZ cord-035342-sf0zld5z 617 10 the the DT cord-035342-sf0zld5z 617 11 pure pure JJ cord-035342-sf0zld5z 617 12 familiarity familiarity NN cord-035342-sf0zld5z 617 13 hypothesis hypothesis NN cord-035342-sf0zld5z 617 14 . . . cord-035342-sf0zld5z 618 1 McQueen McQueen NNP cord-035342-sf0zld5z 618 2 and and CC cord-035342-sf0zld5z 618 3 Stenkrona Stenkrona NNP cord-035342-sf0zld5z 618 4 ( ( -LRB- cord-035342-sf0zld5z 618 5 2012 2012 CD cord-035342-sf0zld5z 618 6 ) ) -RRB- cord-035342-sf0zld5z 618 7 consider consider VBP cord-035342-sf0zld5z 618 8 familiarity familiarity NN cord-035342-sf0zld5z 618 9 as as IN cord-035342-sf0zld5z 618 10 the the DT cord-035342-sf0zld5z 618 11 reason reason NN cord-035342-sf0zld5z 618 12 for for IN cord-035342-sf0zld5z 618 13 the the DT cord-035342-sf0zld5z 618 14 so so RB cord-035342-sf0zld5z 618 15 - - HYPH cord-035342-sf0zld5z 618 16 called call VBN cord-035342-sf0zld5z 618 17 home home NN cord-035342-sf0zld5z 618 18 - - HYPH cord-035342-sf0zld5z 618 19 institution institution NN cord-035342-sf0zld5z 618 20 bias bias NN cord-035342-sf0zld5z 618 21 , , , cord-035342-sf0zld5z 618 22 another another DT cord-035342-sf0zld5z 618 23 phenomenon phenomenon NN cord-035342-sf0zld5z 618 24 closely closely RB cord-035342-sf0zld5z 618 25 related relate VBN cord-035342-sf0zld5z 618 26 to to IN cord-035342-sf0zld5z 618 27 original original JJ cord-035342-sf0zld5z 618 28 home home NN cord-035342-sf0zld5z 618 29 bias bias NN cord-035342-sf0zld5z 618 30 . . . cord-035342-sf0zld5z 619 1 The the DT cord-035342-sf0zld5z 619 2 home home NN cord-035342-sf0zld5z 619 3 - - HYPH cord-035342-sf0zld5z 619 4 institution institution NN cord-035342-sf0zld5z 619 5 bias bias NN cord-035342-sf0zld5z 619 6 is be VBZ cord-035342-sf0zld5z 619 7 the the DT cord-035342-sf0zld5z 619 8 highest high JJS cord-035342-sf0zld5z 619 9 for for IN cord-035342-sf0zld5z 619 10 provincial provincial JJ cord-035342-sf0zld5z 619 11 and and CC cord-035342-sf0zld5z 619 12 unsophisticated unsophisticated JJ cord-035342-sf0zld5z 619 13 investors investor NNS cord-035342-sf0zld5z 619 14 , , , cord-035342-sf0zld5z 619 15 especially especially RB cord-035342-sf0zld5z 619 16 with with IN cord-035342-sf0zld5z 619 17 low low JJ cord-035342-sf0zld5z 619 18 education education NN cord-035342-sf0zld5z 619 19 , , , cord-035342-sf0zld5z 619 20 low low JJ cord-035342-sf0zld5z 619 21 income income NN cord-035342-sf0zld5z 619 22 and and CC cord-035342-sf0zld5z 619 23 low low JJ cord-035342-sf0zld5z 619 24 trading trading NN cord-035342-sf0zld5z 619 25 frequency frequency NN cord-035342-sf0zld5z 619 26 . . . cord-035342-sf0zld5z 620 1 For for IN cord-035342-sf0zld5z 620 2 local local JJ cord-035342-sf0zld5z 620 3 bias bias NN cord-035342-sf0zld5z 620 4 of of IN cord-035342-sf0zld5z 620 5 Finish Finish NNP cord-035342-sf0zld5z 620 6 investors investor NNS cord-035342-sf0zld5z 620 7 , , , cord-035342-sf0zld5z 620 8 Grinblatt Grinblatt NNP cord-035342-sf0zld5z 620 9 and and CC cord-035342-sf0zld5z 620 10 Keloharju Keloharju NNP cord-035342-sf0zld5z 620 11 ( ( -LRB- cord-035342-sf0zld5z 620 12 2001 2001 CD cord-035342-sf0zld5z 620 13 ) ) -RRB- cord-035342-sf0zld5z 620 14 identify identify VB cord-035342-sf0zld5z 620 15 pure pure JJ cord-035342-sf0zld5z 620 16 familiarity familiarity NN cord-035342-sf0zld5z 620 17 as as IN cord-035342-sf0zld5z 620 18 a a DT cord-035342-sf0zld5z 620 19 reason reason NN cord-035342-sf0zld5z 620 20 . . . cord-035342-sf0zld5z 621 1 First first RB cord-035342-sf0zld5z 621 2 , , , cord-035342-sf0zld5z 621 3 investors investor NNS cord-035342-sf0zld5z 621 4 prefer prefer VBP cord-035342-sf0zld5z 621 5 to to TO cord-035342-sf0zld5z 621 6 invest invest VB cord-035342-sf0zld5z 621 7 in in IN cord-035342-sf0zld5z 621 8 firms firm NNS cord-035342-sf0zld5z 621 9 which which WDT cord-035342-sf0zld5z 621 10 are be VBP cord-035342-sf0zld5z 621 11 located locate VBN cord-035342-sf0zld5z 621 12 nearby nearby RB cord-035342-sf0zld5z 621 13 . . . cord-035342-sf0zld5z 622 1 Second second RB cord-035342-sf0zld5z 622 2 , , , cord-035342-sf0zld5z 622 3 investors investor NNS cord-035342-sf0zld5z 622 4 select select VBP cord-035342-sf0zld5z 622 5 firms firm NNS cord-035342-sf0zld5z 622 6 with with IN cord-035342-sf0zld5z 622 7 the the DT cord-035342-sf0zld5z 622 8 annual annual JJ cord-035342-sf0zld5z 622 9 reports report NNS cord-035342-sf0zld5z 622 10 in in IN cord-035342-sf0zld5z 622 11 their -PRON- PRP$ cord-035342-sf0zld5z 622 12 native native JJ cord-035342-sf0zld5z 622 13 language language NN cord-035342-sf0zld5z 622 14 . . . cord-035342-sf0zld5z 623 1 Third third RB cord-035342-sf0zld5z 623 2 , , , cord-035342-sf0zld5z 623 3 they -PRON- PRP cord-035342-sf0zld5z 623 4 invest invest VBP cord-035342-sf0zld5z 623 5 more more JJR cord-035342-sf0zld5z 623 6 money money NN cord-035342-sf0zld5z 623 7 to to IN cord-035342-sf0zld5z 623 8 firms firm NNS cord-035342-sf0zld5z 623 9 whose whose WP$ cord-035342-sf0zld5z 623 10 CEO ceo NN cord-035342-sf0zld5z 623 11 has have VBZ cord-035342-sf0zld5z 623 12 a a DT cord-035342-sf0zld5z 623 13 cultural cultural JJ cord-035342-sf0zld5z 623 14 background background NN cord-035342-sf0zld5z 623 15 the the DT cord-035342-sf0zld5z 623 16 investor investor NN cord-035342-sf0zld5z 623 17 is be VBZ cord-035342-sf0zld5z 623 18 familiar familiar JJ cord-035342-sf0zld5z 623 19 with with IN cord-035342-sf0zld5z 623 20 . . . cord-035342-sf0zld5z 624 1 The the DT cord-035342-sf0zld5z 624 2 effects effect NNS cord-035342-sf0zld5z 624 3 are be VBP cord-035342-sf0zld5z 624 4 less less RBR cord-035342-sf0zld5z 624 5 prevalent prevalent JJ cord-035342-sf0zld5z 624 6 for for IN cord-035342-sf0zld5z 624 7 well well RB cord-035342-sf0zld5z 624 8 - - HYPH cord-035342-sf0zld5z 624 9 versed verse VBN cord-035342-sf0zld5z 624 10 and and CC cord-035342-sf0zld5z 624 11 sophisticated sophisticated JJ cord-035342-sf0zld5z 624 12 investors investor NNS cord-035342-sf0zld5z 624 13 . . . cord-035342-sf0zld5z 625 1 However however RB cord-035342-sf0zld5z 625 2 , , , cord-035342-sf0zld5z 625 3 it -PRON- PRP cord-035342-sf0zld5z 625 4 remains remain VBZ cord-035342-sf0zld5z 625 5 unclear unclear JJ cord-035342-sf0zld5z 625 6 if if IN cord-035342-sf0zld5z 625 7 these these DT cord-035342-sf0zld5z 625 8 results result NNS cord-035342-sf0zld5z 625 9 can can MD cord-035342-sf0zld5z 625 10 be be VB cord-035342-sf0zld5z 625 11 transferred transfer VBN cord-035342-sf0zld5z 625 12 to to IN cord-035342-sf0zld5z 625 13 higher high JJR cord-035342-sf0zld5z 625 14 capitalized capitalize VBN cord-035342-sf0zld5z 625 15 markets market NNS cord-035342-sf0zld5z 625 16 like like IN cord-035342-sf0zld5z 625 17 the the DT cord-035342-sf0zld5z 625 18 UK UK NNP cord-035342-sf0zld5z 625 19 or or CC cord-035342-sf0zld5z 625 20 the the DT cord-035342-sf0zld5z 625 21 U.S. U.S. NNP cord-035342-sf0zld5z 626 1 Also also RB cord-035342-sf0zld5z 626 2 , , , cord-035342-sf0zld5z 626 3 Pool Pool NNP cord-035342-sf0zld5z 626 4 et et NNP cord-035342-sf0zld5z 626 5 al al NNP cord-035342-sf0zld5z 626 6 . . . cord-035342-sf0zld5z 627 1 ( ( -LRB- cord-035342-sf0zld5z 627 2 2012 2012 CD cord-035342-sf0zld5z 627 3 ) ) -RRB- cord-035342-sf0zld5z 627 4 reject reject VBP cord-035342-sf0zld5z 627 5 the the DT cord-035342-sf0zld5z 627 6 information information NN cord-035342-sf0zld5z 627 7 - - HYPH cord-035342-sf0zld5z 627 8 based base VBN cord-035342-sf0zld5z 627 9 explanation explanation NN cord-035342-sf0zld5z 627 10 of of IN cord-035342-sf0zld5z 627 11 local local JJ cord-035342-sf0zld5z 627 12 bias bias NN cord-035342-sf0zld5z 627 13 and and CC cord-035342-sf0zld5z 627 14 identify identify VB cord-035342-sf0zld5z 627 15 pure pure JJ cord-035342-sf0zld5z 627 16 familiarity familiarity NN cord-035342-sf0zld5z 627 17 as as IN cord-035342-sf0zld5z 627 18 a a DT cord-035342-sf0zld5z 627 19 reason reason NN cord-035342-sf0zld5z 627 20 for for IN cord-035342-sf0zld5z 627 21 local local JJ cord-035342-sf0zld5z 627 22 bias bias NN cord-035342-sf0zld5z 627 23 , , , cord-035342-sf0zld5z 627 24 even even RB cord-035342-sf0zld5z 627 25 among among IN cord-035342-sf0zld5z 627 26 professional professional JJ cord-035342-sf0zld5z 627 27 investors investor NNS cord-035342-sf0zld5z 627 28 in in IN cord-035342-sf0zld5z 627 29 the the DT cord-035342-sf0zld5z 627 30 U.S U.S NNP cord-035342-sf0zld5z 627 31 .. .. . cord-035342-sf0zld5z 628 1 These these DT cord-035342-sf0zld5z 628 2 findings finding NNS cord-035342-sf0zld5z 628 3 are be VBP cord-035342-sf0zld5z 628 4 consistent consistent JJ cord-035342-sf0zld5z 628 5 with with IN cord-035342-sf0zld5z 628 6 Huberman Huberman NNP cord-035342-sf0zld5z 628 7 ( ( -LRB- cord-035342-sf0zld5z 628 8 2001 2001 CD cord-035342-sf0zld5z 628 9 ) ) -RRB- cord-035342-sf0zld5z 628 10 who who WP cord-035342-sf0zld5z 628 11 documents document VBZ cord-035342-sf0zld5z 628 12 familiarity familiarity NN cord-035342-sf0zld5z 628 13 as as IN cord-035342-sf0zld5z 628 14 an an DT cord-035342-sf0zld5z 628 15 explanation explanation NN cord-035342-sf0zld5z 628 16 for for IN cord-035342-sf0zld5z 628 17 investment investment NN cord-035342-sf0zld5z 628 18 decisions decision NNS cord-035342-sf0zld5z 628 19 of of IN cord-035342-sf0zld5z 628 20 individual individual JJ cord-035342-sf0zld5z 628 21 investors investor NNS cord-035342-sf0zld5z 628 22 . . . cord-035342-sf0zld5z 629 1 He -PRON- PRP cord-035342-sf0zld5z 629 2 defines define VBZ cord-035342-sf0zld5z 629 3 pure pure JJ cord-035342-sf0zld5z 629 4 familiarity familiarity NN cord-035342-sf0zld5z 629 5 as as IN cord-035342-sf0zld5z 629 6 " " `` cord-035342-sf0zld5z 629 7 a a DT cord-035342-sf0zld5z 629 8 general general JJ cord-035342-sf0zld5z 629 9 sense sense NN cord-035342-sf0zld5z 629 10 of of IN cord-035342-sf0zld5z 629 11 comfort comfort NN cord-035342-sf0zld5z 629 12 with with IN cord-035342-sf0zld5z 629 13 the the DT cord-035342-sf0zld5z 629 14 known know VBN cord-035342-sf0zld5z 629 15 " " '' cord-035342-sf0zld5z 629 16 ( ( -LRB- cord-035342-sf0zld5z 629 17 Huberman Huberman NNP cord-035342-sf0zld5z 629 18 2001 2001 CD cord-035342-sf0zld5z 629 19 , , , cord-035342-sf0zld5z 629 20 p. p. NN cord-035342-sf0zld5z 629 21 678 678 CD cord-035342-sf0zld5z 629 22 ) ) -RRB- cord-035342-sf0zld5z 629 23 . . . cord-035342-sf0zld5z 630 1 According accord VBG cord-035342-sf0zld5z 630 2 to to IN cord-035342-sf0zld5z 630 3 Giannetti Giannetti NNP cord-035342-sf0zld5z 630 4 and and CC cord-035342-sf0zld5z 630 5 Laeven Laeven NNP cord-035342-sf0zld5z 630 6 ( ( -LRB- cord-035342-sf0zld5z 630 7 2016 2016 CD cord-035342-sf0zld5z 630 8 ) ) -RRB- cord-035342-sf0zld5z 630 9 , , , cord-035342-sf0zld5z 630 10 who who WP cord-035342-sf0zld5z 630 11 study study VBP cord-035342-sf0zld5z 630 12 local local JJ cord-035342-sf0zld5z 630 13 bias bias NN cord-035342-sf0zld5z 630 14 , , , cord-035342-sf0zld5z 630 15 familiarity familiarity NN cord-035342-sf0zld5z 630 16 aspects aspect NNS cord-035342-sf0zld5z 630 17 are be VBP cord-035342-sf0zld5z 630 18 probably probably RB cord-035342-sf0zld5z 630 19 even even RB cord-035342-sf0zld5z 630 20 higher high JJR cord-035342-sf0zld5z 630 21 in in IN cord-035342-sf0zld5z 630 22 an an DT cord-035342-sf0zld5z 630 23 international international JJ cord-035342-sf0zld5z 630 24 setting setting NN cord-035342-sf0zld5z 630 25 , , , cord-035342-sf0zld5z 630 26 like like IN cord-035342-sf0zld5z 630 27 home home NN cord-035342-sf0zld5z 630 28 bias bias NN cord-035342-sf0zld5z 630 29 . . . cord-035342-sf0zld5z 631 1 Bhattacharya Bhattacharya NNP cord-035342-sf0zld5z 631 2 and and CC cord-035342-sf0zld5z 631 3 Groznik Groznik NNP cord-035342-sf0zld5z 631 4 ( ( -LRB- cord-035342-sf0zld5z 631 5 2008 2008 CD cord-035342-sf0zld5z 631 6 ) ) -RRB- cord-035342-sf0zld5z 631 7 , , , cord-035342-sf0zld5z 631 8 Loughran Loughran NNP cord-035342-sf0zld5z 631 9 and and CC cord-035342-sf0zld5z 631 10 Schultz Schultz NNP cord-035342-sf0zld5z 631 11 ( ( -LRB- cord-035342-sf0zld5z 631 12 2005 2005 CD cord-035342-sf0zld5z 631 13 ) ) -RRB- cord-035342-sf0zld5z 631 14 and and CC cord-035342-sf0zld5z 631 15 Morse Morse NNP cord-035342-sf0zld5z 631 16 and and CC cord-035342-sf0zld5z 631 17 Shive Shive NNP cord-035342-sf0zld5z 631 18 ( ( -LRB- cord-035342-sf0zld5z 631 19 2011 2011 CD cord-035342-sf0zld5z 631 20 ) ) -RRB- cord-035342-sf0zld5z 631 21 also also RB cord-035342-sf0zld5z 631 22 report report VBP cord-035342-sf0zld5z 631 23 familiarity familiarity NN cord-035342-sf0zld5z 631 24 as as IN cord-035342-sf0zld5z 631 25 a a DT cord-035342-sf0zld5z 631 26 reason reason NN cord-035342-sf0zld5z 631 27 for for IN cord-035342-sf0zld5z 631 28 home home NN cord-035342-sf0zld5z 631 29 and and CC cord-035342-sf0zld5z 631 30 local local JJ cord-035342-sf0zld5z 631 31 bias bias NN cord-035342-sf0zld5z 631 32 . . . cord-035342-sf0zld5z 632 1 In in IN cord-035342-sf0zld5z 632 2 contrast contrast NN cord-035342-sf0zld5z 632 3 to to IN cord-035342-sf0zld5z 632 4 general general JJ cord-035342-sf0zld5z 632 5 pure pure JJ cord-035342-sf0zld5z 632 6 familiarity familiarity NN cord-035342-sf0zld5z 632 7 , , , cord-035342-sf0zld5z 632 8 which which WDT cord-035342-sf0zld5z 632 9 is be VBZ cord-035342-sf0zld5z 632 10 rather rather RB cord-035342-sf0zld5z 632 11 referring refer VBG cord-035342-sf0zld5z 632 12 to to IN cord-035342-sf0zld5z 632 13 the the DT cord-035342-sf0zld5z 632 14 individual individual NN cord-035342-sf0zld5z 632 15 , , , cord-035342-sf0zld5z 632 16 patriotism patriotism NN cord-035342-sf0zld5z 632 17 and and CC cord-035342-sf0zld5z 632 18 loyalty loyalty NN cord-035342-sf0zld5z 632 19 are be VBP cord-035342-sf0zld5z 632 20 often often RB cord-035342-sf0zld5z 632 21 attributed attribute VBN cord-035342-sf0zld5z 632 22 to to IN cord-035342-sf0zld5z 632 23 a a DT cord-035342-sf0zld5z 632 24 larger large JJR cord-035342-sf0zld5z 632 25 and and CC cord-035342-sf0zld5z 632 26 specific specific JJ cord-035342-sf0zld5z 632 27 group group NN cord-035342-sf0zld5z 632 28 of of IN cord-035342-sf0zld5z 632 29 people people NNS cord-035342-sf0zld5z 632 30 . . . cord-035342-sf0zld5z 633 1 Morse Morse NNP cord-035342-sf0zld5z 633 2 and and CC cord-035342-sf0zld5z 633 3 Shive Shive NNP cord-035342-sf0zld5z 633 4 ( ( -LRB- cord-035342-sf0zld5z 633 5 2011 2011 CD cord-035342-sf0zld5z 633 6 ) ) -RRB- cord-035342-sf0zld5z 633 7 examine examine VB cord-035342-sf0zld5z 633 8 the the DT cord-035342-sf0zld5z 633 9 influence influence NN cord-035342-sf0zld5z 633 10 of of IN cord-035342-sf0zld5z 633 11 patriotism patriotism NN cord-035342-sf0zld5z 633 12 on on IN cord-035342-sf0zld5z 633 13 portfolio portfolio NN cord-035342-sf0zld5z 633 14 choices choice NNS cord-035342-sf0zld5z 633 15 and and CC cord-035342-sf0zld5z 633 16 home home NN cord-035342-sf0zld5z 633 17 bias bias NN cord-035342-sf0zld5z 633 18 . . . cord-035342-sf0zld5z 634 1 From from IN cord-035342-sf0zld5z 634 2 a a DT cord-035342-sf0zld5z 634 3 survey survey NN cord-035342-sf0zld5z 634 4 of of IN cord-035342-sf0zld5z 634 5 53 53 CD cord-035342-sf0zld5z 634 6 countries country NNS cord-035342-sf0zld5z 634 7 they -PRON- PRP cord-035342-sf0zld5z 634 8 find find VBP cord-035342-sf0zld5z 634 9 that that IN cord-035342-sf0zld5z 634 10 patriotism patriotism NN cord-035342-sf0zld5z 634 11 and and CC cord-035342-sf0zld5z 634 12 home home NN cord-035342-sf0zld5z 634 13 bias bias NN cord-035342-sf0zld5z 634 14 are be VBP cord-035342-sf0zld5z 634 15 positively positively RB cord-035342-sf0zld5z 634 16 related relate VBN cord-035342-sf0zld5z 634 17 . . . cord-035342-sf0zld5z 635 1 In in IN cord-035342-sf0zld5z 635 2 a a DT cord-035342-sf0zld5z 635 3 more more RBR cord-035342-sf0zld5z 635 4 patriotic patriotic JJ cord-035342-sf0zld5z 635 5 country country NN cord-035342-sf0zld5z 635 6 , , , cord-035342-sf0zld5z 635 7 an an DT cord-035342-sf0zld5z 635 8 average average JJ cord-035342-sf0zld5z 635 9 portfolio portfolio NN cord-035342-sf0zld5z 635 10 consists consist VBZ cord-035342-sf0zld5z 635 11 of of IN cord-035342-sf0zld5z 635 12 more more JJR cord-035342-sf0zld5z 635 13 domestic domestic JJ cord-035342-sf0zld5z 635 14 equities equity NNS cord-035342-sf0zld5z 635 15 compared compare VBN cord-035342-sf0zld5z 635 16 to to IN cord-035342-sf0zld5z 635 17 a a DT cord-035342-sf0zld5z 635 18 less less RBR cord-035342-sf0zld5z 635 19 patriotic patriotic JJ cord-035342-sf0zld5z 635 20 . . . cord-035342-sf0zld5z 636 1 The the DT cord-035342-sf0zld5z 636 2 results result NNS cord-035342-sf0zld5z 636 3 are be VBP cord-035342-sf0zld5z 636 4 valid valid JJ cord-035342-sf0zld5z 636 5 and and CC cord-035342-sf0zld5z 636 6 robust robust JJ cord-035342-sf0zld5z 636 7 for for IN cord-035342-sf0zld5z 636 8 other other JJ cord-035342-sf0zld5z 636 9 home home NN cord-035342-sf0zld5z 636 10 bias bias NN cord-035342-sf0zld5z 636 11 reasons reason NNS cord-035342-sf0zld5z 636 12 . . . cord-035342-sf0zld5z 637 1 Within within IN cord-035342-sf0zld5z 637 2 a a DT cord-035342-sf0zld5z 637 3 country country NN cord-035342-sf0zld5z 637 4 , , , cord-035342-sf0zld5z 637 5 the the DT cord-035342-sf0zld5z 637 6 level level NN cord-035342-sf0zld5z 637 7 of of IN cord-035342-sf0zld5z 637 8 home home NN cord-035342-sf0zld5z 637 9 bias bias NN cord-035342-sf0zld5z 637 10 is be VBZ cord-035342-sf0zld5z 637 11 also also RB cord-035342-sf0zld5z 637 12 lower low JJR cord-035342-sf0zld5z 637 13 for for IN cord-035342-sf0zld5z 637 14 regions region NNS cord-035342-sf0zld5z 637 15 with with IN cord-035342-sf0zld5z 637 16 a a DT cord-035342-sf0zld5z 637 17 lower low JJR cord-035342-sf0zld5z 637 18 level level NN cord-035342-sf0zld5z 637 19 of of IN cord-035342-sf0zld5z 637 20 patriotism patriotism NN cord-035342-sf0zld5z 637 21 . . . cord-035342-sf0zld5z 638 1 Cohen Cohen NNP cord-035342-sf0zld5z 638 2 ( ( -LRB- cord-035342-sf0zld5z 638 3 2009 2009 CD cord-035342-sf0zld5z 638 4 ) ) -RRB- cord-035342-sf0zld5z 638 5 shows show VBZ cord-035342-sf0zld5z 638 6 that that IN cord-035342-sf0zld5z 638 7 investment investment NN cord-035342-sf0zld5z 638 8 decisions decision NNS cord-035342-sf0zld5z 638 9 in in IN cord-035342-sf0zld5z 638 10 an an DT cord-035342-sf0zld5z 638 11 intra intra JJ cord-035342-sf0zld5z 638 12 - - JJ cord-035342-sf0zld5z 638 13 national national JJ cord-035342-sf0zld5z 638 14 setting setting NN cord-035342-sf0zld5z 638 15 are be VBP cord-035342-sf0zld5z 638 16 driven drive VBN cord-035342-sf0zld5z 638 17 by by IN cord-035342-sf0zld5z 638 18 loyalty loyalty NN cord-035342-sf0zld5z 638 19 which which WDT cord-035342-sf0zld5z 638 20 is be VBZ cord-035342-sf0zld5z 638 21 similar similar JJ cord-035342-sf0zld5z 638 22 to to IN cord-035342-sf0zld5z 638 23 patriotism patriotism NN cord-035342-sf0zld5z 638 24 . . . cord-035342-sf0zld5z 639 1 If if IN cord-035342-sf0zld5z 639 2 the the DT cord-035342-sf0zld5z 639 3 finding finding NN cord-035342-sf0zld5z 639 4 of of IN cord-035342-sf0zld5z 639 5 Cohen Cohen NNP cord-035342-sf0zld5z 639 6 ( ( -LRB- cord-035342-sf0zld5z 639 7 2009 2009 CD cord-035342-sf0zld5z 639 8 ) ) -RRB- cord-035342-sf0zld5z 639 9 can can MD cord-035342-sf0zld5z 639 10 be be VB cord-035342-sf0zld5z 639 11 transferred transfer VBN cord-035342-sf0zld5z 639 12 to to IN cord-035342-sf0zld5z 639 13 international international JJ cord-035342-sf0zld5z 639 14 investment investment NN cord-035342-sf0zld5z 639 15 decisions decision NNS cord-035342-sf0zld5z 639 16 and and CC cord-035342-sf0zld5z 639 17 home home NN cord-035342-sf0zld5z 639 18 bias bias NN cord-035342-sf0zld5z 639 19 , , , cord-035342-sf0zld5z 639 20 remains remain VBZ cord-035342-sf0zld5z 639 21 unclear unclear JJ cord-035342-sf0zld5z 639 22 . . . cord-035342-sf0zld5z 640 1 Human human JJ cord-035342-sf0zld5z 640 2 beings being NNS cord-035342-sf0zld5z 640 3 try try VBP cord-035342-sf0zld5z 640 4 to to TO cord-035342-sf0zld5z 640 5 avoid avoid VB cord-035342-sf0zld5z 640 6 uncertainty uncertainty NN cord-035342-sf0zld5z 640 7 or or CC cord-035342-sf0zld5z 640 8 at at IN cord-035342-sf0zld5z 640 9 least least JJS cord-035342-sf0zld5z 640 10 want want VB cord-035342-sf0zld5z 640 11 to to TO cord-035342-sf0zld5z 640 12 reduce reduce VB cord-035342-sf0zld5z 640 13 the the DT cord-035342-sf0zld5z 640 14 impact impact NN cord-035342-sf0zld5z 640 15 of of IN cord-035342-sf0zld5z 640 16 uncertainty uncertainty NN cord-035342-sf0zld5z 640 17 . . . cord-035342-sf0zld5z 641 1 In in IN cord-035342-sf0zld5z 641 2 a a DT cord-035342-sf0zld5z 641 3 financial financial JJ cord-035342-sf0zld5z 641 4 setting setting NN cord-035342-sf0zld5z 641 5 , , , cord-035342-sf0zld5z 641 6 an an DT cord-035342-sf0zld5z 641 7 instrument instrument NN cord-035342-sf0zld5z 641 8 of of IN cord-035342-sf0zld5z 641 9 trying try VBG cord-035342-sf0zld5z 641 10 to to TO cord-035342-sf0zld5z 641 11 control control VB cord-035342-sf0zld5z 641 12 uncertainty uncertainty NN cord-035342-sf0zld5z 641 13 is be VBZ cord-035342-sf0zld5z 641 14 called call VBN cord-035342-sf0zld5z 641 15 hedging hedge VBG cord-035342-sf0zld5z 641 16 . . . cord-035342-sf0zld5z 642 1 In in IN cord-035342-sf0zld5z 642 2 principle principle NN cord-035342-sf0zld5z 642 3 , , , cord-035342-sf0zld5z 642 4 hedging hedging NN cord-035342-sf0zld5z 642 5 can can MD cord-035342-sf0zld5z 642 6 be be VB cord-035342-sf0zld5z 642 7 regarded regard VBN cord-035342-sf0zld5z 642 8 as as IN cord-035342-sf0zld5z 642 9 a a DT cord-035342-sf0zld5z 642 10 reason reason NN cord-035342-sf0zld5z 642 11 which which WDT cord-035342-sf0zld5z 642 12 is be VBZ cord-035342-sf0zld5z 642 13 based base VBN cord-035342-sf0zld5z 642 14 amongst amongst IN cord-035342-sf0zld5z 642 15 others other NNS cord-035342-sf0zld5z 642 16 on on IN cord-035342-sf0zld5z 642 17 the the DT cord-035342-sf0zld5z 642 18 individuals individual NNS cord-035342-sf0zld5z 642 19 ' ' POS cord-035342-sf0zld5z 642 20 risk risk NN cord-035342-sf0zld5z 642 21 aversion aversion NN cord-035342-sf0zld5z 642 22 . . . cord-035342-sf0zld5z 643 1 The the DT cord-035342-sf0zld5z 643 2 circumstances circumstance NNS cord-035342-sf0zld5z 643 3 and and CC cord-035342-sf0zld5z 643 4 the the DT cord-035342-sf0zld5z 643 5 framework framework NN cord-035342-sf0zld5z 643 6 why why WRB cord-035342-sf0zld5z 643 7 investors investor NNS cord-035342-sf0zld5z 643 8 hedge hedge VBP cord-035342-sf0zld5z 643 9 ( ( -LRB- cord-035342-sf0zld5z 643 10 real real JJ cord-035342-sf0zld5z 643 11 exchange exchange NN cord-035342-sf0zld5z 643 12 rate rate NN cord-035342-sf0zld5z 643 13 volatility volatility NN cord-035342-sf0zld5z 643 14 and and CC cord-035342-sf0zld5z 643 15 inflation inflation NN cord-035342-sf0zld5z 643 16 risk risk NN cord-035342-sf0zld5z 643 17 ) ) -RRB- cord-035342-sf0zld5z 643 18 are be VBP cord-035342-sf0zld5z 643 19 given give VBN cord-035342-sf0zld5z 643 20 in in IN cord-035342-sf0zld5z 643 21 economy economy NN cord-035342-sf0zld5z 643 22 and and CC cord-035342-sf0zld5z 643 23 therefore therefore RB cord-035342-sf0zld5z 643 24 hedging hedging NN cord-035342-sf0zld5z 643 25 could could MD cord-035342-sf0zld5z 643 26 also also RB cord-035342-sf0zld5z 643 27 be be VB cord-035342-sf0zld5z 643 28 considered consider VBN cord-035342-sf0zld5z 643 29 as as IN cord-035342-sf0zld5z 643 30 an an DT cord-035342-sf0zld5z 643 31 institutional institutional JJ cord-035342-sf0zld5z 643 32 reason reason NN cord-035342-sf0zld5z 643 33 . . . cord-035342-sf0zld5z 644 1 But but CC cord-035342-sf0zld5z 644 2 , , , cord-035342-sf0zld5z 644 3 since since IN cord-035342-sf0zld5z 644 4 the the DT cord-035342-sf0zld5z 644 5 focus focus NN cord-035342-sf0zld5z 644 6 is be VBZ cord-035342-sf0zld5z 644 7 on on IN cord-035342-sf0zld5z 644 8 the the DT cord-035342-sf0zld5z 644 9 individual individual NN cord-035342-sf0zld5z 644 10 herself -PRON- PRP cord-035342-sf0zld5z 644 11 , , , cord-035342-sf0zld5z 644 12 hedging hedging NN cord-035342-sf0zld5z 644 13 is be VBZ cord-035342-sf0zld5z 644 14 here here RB cord-035342-sf0zld5z 644 15 subsumed subsume VBN cord-035342-sf0zld5z 644 16 to to IN cord-035342-sf0zld5z 644 17 behavioural behavioural JJ cord-035342-sf0zld5z 644 18 aspects aspect NNS cord-035342-sf0zld5z 644 19 . . . cord-035342-sf0zld5z 645 1 Choi Choi NNP cord-035342-sf0zld5z 645 2 et et NNP cord-035342-sf0zld5z 645 3 al al NNP cord-035342-sf0zld5z 645 4 . . . cord-035342-sf0zld5z 646 1 ( ( -LRB- cord-035342-sf0zld5z 646 2 2017 2017 CD cord-035342-sf0zld5z 646 3 ) ) -RRB- cord-035342-sf0zld5z 646 4 show show VBP cord-035342-sf0zld5z 646 5 that that IN cord-035342-sf0zld5z 646 6 the the DT cord-035342-sf0zld5z 646 7 extent extent NN cord-035342-sf0zld5z 646 8 of of IN cord-035342-sf0zld5z 646 9 home home NN cord-035342-sf0zld5z 646 10 bias bias NN cord-035342-sf0zld5z 646 11 and and CC cord-035342-sf0zld5z 646 12 uncertainty uncertainty NN cord-035342-sf0zld5z 646 13 in in IN cord-035342-sf0zld5z 646 14 general general JJ cord-035342-sf0zld5z 646 15 have have VBP cord-035342-sf0zld5z 646 16 a a DT cord-035342-sf0zld5z 646 17 positive positive JJ cord-035342-sf0zld5z 646 18 correlation correlation NN cord-035342-sf0zld5z 646 19 . . . cord-035342-sf0zld5z 647 1 Lehmann Lehmann NNP cord-035342-sf0zld5z 647 2 - - HYPH cord-035342-sf0zld5z 647 3 Hasemeyer Hasemeyer NNP cord-035342-sf0zld5z 647 4 and and CC cord-035342-sf0zld5z 647 5 Neumayer Neumayer NNP cord-035342-sf0zld5z 647 6 ( ( -LRB- cord-035342-sf0zld5z 647 7 2019 2019 CD cord-035342-sf0zld5z 647 8 ) ) -RRB- cord-035342-sf0zld5z 647 9 confirm confirm VBP cord-035342-sf0zld5z 647 10 the the DT cord-035342-sf0zld5z 647 11 correlation correlation NN cord-035342-sf0zld5z 647 12 . . . cord-035342-sf0zld5z 648 1 Uncertainty uncertainty NN cord-035342-sf0zld5z 648 2 avoidance avoidance NN cord-035342-sf0zld5z 648 3 can can MD cord-035342-sf0zld5z 648 4 be be VB cord-035342-sf0zld5z 648 5 combined combine VBN cord-035342-sf0zld5z 648 6 with with IN cord-035342-sf0zld5z 648 7 information information NN cord-035342-sf0zld5z 648 8 - - HYPH cord-035342-sf0zld5z 648 9 based base VBN cord-035342-sf0zld5z 648 10 explanations explanation NNS cord-035342-sf0zld5z 648 11 . . . cord-035342-sf0zld5z 649 1 In in IN cord-035342-sf0zld5z 649 2 uncertain uncertain JJ cord-035342-sf0zld5z 649 3 and and CC cord-035342-sf0zld5z 649 4 turbulent turbulent JJ cord-035342-sf0zld5z 649 5 times time NNS cord-035342-sf0zld5z 649 6 ( ( -LRB- cord-035342-sf0zld5z 649 7 measured measure VBN cord-035342-sf0zld5z 649 8 by by IN cord-035342-sf0zld5z 649 9 market market NN cord-035342-sf0zld5z 649 10 volatility volatility NN cord-035342-sf0zld5z 649 11 ) ) -RRB- cord-035342-sf0zld5z 649 12 the the DT cord-035342-sf0zld5z 649 13 informational informational JJ cord-035342-sf0zld5z 649 14 advantage advantage NN cord-035342-sf0zld5z 649 15 of of IN cord-035342-sf0zld5z 649 16 local local JJ cord-035342-sf0zld5z 649 17 and and CC cord-035342-sf0zld5z 649 18 domestic domestic JJ cord-035342-sf0zld5z 649 19 investments investment NNS cord-035342-sf0zld5z 649 20 is be VBZ cord-035342-sf0zld5z 649 21 worth worth JJ cord-035342-sf0zld5z 649 22 more more JJR cord-035342-sf0zld5z 649 23 , , , cord-035342-sf0zld5z 649 24 because because IN cord-035342-sf0zld5z 649 25 it -PRON- PRP cord-035342-sf0zld5z 649 26 can can MD cord-035342-sf0zld5z 649 27 be be VB cord-035342-sf0zld5z 649 28 harder hard JJR cord-035342-sf0zld5z 649 29 to to TO cord-035342-sf0zld5z 649 30 gather gather VB cord-035342-sf0zld5z 649 31 valid valid JJ cord-035342-sf0zld5z 649 32 information information NN cord-035342-sf0zld5z 649 33 during during IN cord-035342-sf0zld5z 649 34 crisis crisis NN cord-035342-sf0zld5z 649 35 . . . cord-035342-sf0zld5z 650 1 Consequently consequently RB cord-035342-sf0zld5z 650 2 , , , cord-035342-sf0zld5z 650 3 investors investor NNS cord-035342-sf0zld5z 650 4 are be VBP cord-035342-sf0zld5z 650 5 more more RBR cord-035342-sf0zld5z 650 6 biased biased JJ cord-035342-sf0zld5z 650 7 towards towards IN cord-035342-sf0zld5z 650 8 domestic domestic JJ cord-035342-sf0zld5z 650 9 and and CC cord-035342-sf0zld5z 650 10 local local JJ cord-035342-sf0zld5z 650 11 assets asset NNS cord-035342-sf0zld5z 650 12 in in IN cord-035342-sf0zld5z 650 13 times time NNS cord-035342-sf0zld5z 650 14 of of IN cord-035342-sf0zld5z 650 15 high high JJ cord-035342-sf0zld5z 650 16 market market NN cord-035342-sf0zld5z 650 17 volatility volatility NN cord-035342-sf0zld5z 650 18 , , , cord-035342-sf0zld5z 650 19 retracting retract VBG cord-035342-sf0zld5z 650 20 to to IN cord-035342-sf0zld5z 650 21 the the DT cord-035342-sf0zld5z 650 22 familiar familiar JJ cord-035342-sf0zld5z 650 23 and and CC cord-035342-sf0zld5z 650 24 to to IN cord-035342-sf0zld5z 650 25 the the DT cord-035342-sf0zld5z 650 26 local local JJ cord-035342-sf0zld5z 650 27 investments investment NNS cord-035342-sf0zld5z 650 28 is be VBZ cord-035342-sf0zld5z 650 29 a a DT cord-035342-sf0zld5z 650 30 plausible plausible JJ cord-035342-sf0zld5z 650 31 explanation explanation NN cord-035342-sf0zld5z 650 32 ( ( -LRB- cord-035342-sf0zld5z 650 33 Giannetti Giannetti NNP cord-035342-sf0zld5z 650 34 and and CC cord-035342-sf0zld5z 650 35 Laeven Laeven NNP cord-035342-sf0zld5z 650 36 2016 2016 CD cord-035342-sf0zld5z 650 37 ) ) -RRB- cord-035342-sf0zld5z 650 38 . . . cord-035342-sf0zld5z 651 1 Overall overall RB cord-035342-sf0zld5z 651 2 , , , cord-035342-sf0zld5z 651 3 uncertainty uncertainty NN cord-035342-sf0zld5z 651 4 is be VBZ cord-035342-sf0zld5z 651 5 always always RB cord-035342-sf0zld5z 651 6 existing exist VBG cord-035342-sf0zld5z 651 7 , , , cord-035342-sf0zld5z 651 8 though though IN cord-035342-sf0zld5z 651 9 at at IN cord-035342-sf0zld5z 651 10 varying vary VBG cord-035342-sf0zld5z 651 11 degrees degree NNS cord-035342-sf0zld5z 651 12 . . . cord-035342-sf0zld5z 652 1 Investors investor NNS cord-035342-sf0zld5z 652 2 try try VBP cord-035342-sf0zld5z 652 3 to to TO cord-035342-sf0zld5z 652 4 hedge hedge VB cord-035342-sf0zld5z 652 5 against against IN cord-035342-sf0zld5z 652 6 uncertainty uncertainty NN cord-035342-sf0zld5z 652 7 , , , cord-035342-sf0zld5z 652 8 i. i. NNP cord-035342-sf0zld5z 652 9 e. e. NNP cord-035342-sf0zld5z 652 10 hedging hedge VBG cord-035342-sf0zld5z 652 11 against against IN cord-035342-sf0zld5z 652 12 real real JJ cord-035342-sf0zld5z 652 13 exchange exchange NN cord-035342-sf0zld5z 652 14 rate rate NN cord-035342-sf0zld5z 652 15 volatility volatility NN cord-035342-sf0zld5z 652 16 , , , cord-035342-sf0zld5z 652 17 deviations deviation NNS cord-035342-sf0zld5z 652 18 from from IN cord-035342-sf0zld5z 652 19 purchasing purchase VBG cord-035342-sf0zld5z 652 20 power power NN cord-035342-sf0zld5z 652 21 parity parity NN cord-035342-sf0zld5z 652 22 ( ( -LRB- cord-035342-sf0zld5z 652 23 PPP PPP NNP cord-035342-sf0zld5z 652 24 ) ) -RRB- cord-035342-sf0zld5z 652 25 , , , cord-035342-sf0zld5z 652 26 inflation inflation NN cord-035342-sf0zld5z 652 27 risk risk NN cord-035342-sf0zld5z 652 28 and and CC cord-035342-sf0zld5z 652 29 general general JJ cord-035342-sf0zld5z 652 30 market market NN cord-035342-sf0zld5z 652 31 volatility volatility NN cord-035342-sf0zld5z 652 32 . . . cord-035342-sf0zld5z 653 1 Exhibiting exhibit VBG cord-035342-sf0zld5z 653 2 home home NN cord-035342-sf0zld5z 653 3 bias bias NN cord-035342-sf0zld5z 653 4 is be VBZ cord-035342-sf0zld5z 653 5 one one CD cord-035342-sf0zld5z 653 6 solution solution NN cord-035342-sf0zld5z 653 7 to to TO cord-035342-sf0zld5z 653 8 hedge hedge VB cord-035342-sf0zld5z 653 9 . . . cord-035342-sf0zld5z 654 1 The the DT cord-035342-sf0zld5z 654 2 real real JJ cord-035342-sf0zld5z 654 3 exchange exchange NN cord-035342-sf0zld5z 654 4 rate rate NN cord-035342-sf0zld5z 654 5 is be VBZ cord-035342-sf0zld5z 654 6 subject subject JJ cord-035342-sf0zld5z 654 7 to to IN cord-035342-sf0zld5z 654 8 fluctuations fluctuation NNS cord-035342-sf0zld5z 654 9 and and CC cord-035342-sf0zld5z 654 10 therefore therefore RB cord-035342-sf0zld5z 654 11 represents represent VBZ cord-035342-sf0zld5z 654 12 uncertainty uncertainty NN cord-035342-sf0zld5z 654 13 . . . cord-035342-sf0zld5z 655 1 That that DT cord-035342-sf0zld5z 655 2 is be VBZ cord-035342-sf0zld5z 655 3 why why WRB cord-035342-sf0zld5z 655 4 investors investor NNS cord-035342-sf0zld5z 655 5 want want VBP cord-035342-sf0zld5z 655 6 to to TO cord-035342-sf0zld5z 655 7 hedge hedge VB cord-035342-sf0zld5z 655 8 against against IN cord-035342-sf0zld5z 655 9 the the DT cord-035342-sf0zld5z 655 10 variation variation NN cord-035342-sf0zld5z 655 11 in in IN cord-035342-sf0zld5z 655 12 the the DT cord-035342-sf0zld5z 655 13 real real JJ cord-035342-sf0zld5z 655 14 exchange exchange NN cord-035342-sf0zld5z 655 15 rate rate NN cord-035342-sf0zld5z 655 16 . . . cord-035342-sf0zld5z 656 1 Since since IN cord-035342-sf0zld5z 656 2 within within IN cord-035342-sf0zld5z 656 3 a a DT cord-035342-sf0zld5z 656 4 common common JJ cord-035342-sf0zld5z 656 5 currency currency NN cord-035342-sf0zld5z 656 6 area area NN cord-035342-sf0zld5z 656 7 there there EX cord-035342-sf0zld5z 656 8 is be VBZ cord-035342-sf0zld5z 656 9 no no DT cord-035342-sf0zld5z 656 10 need need NN cord-035342-sf0zld5z 656 11 for for IN cord-035342-sf0zld5z 656 12 exchange exchange NN cord-035342-sf0zld5z 656 13 rate rate NN cord-035342-sf0zld5z 656 14 hedging hedging NN cord-035342-sf0zld5z 656 15 , , , cord-035342-sf0zld5z 656 16 local local JJ cord-035342-sf0zld5z 656 17 bias bias NN cord-035342-sf0zld5z 656 18 can can MD cord-035342-sf0zld5z 656 19 not not RB cord-035342-sf0zld5z 656 20 be be VB cord-035342-sf0zld5z 656 21 influenced influence VBN cord-035342-sf0zld5z 656 22 by by IN cord-035342-sf0zld5z 656 23 hedging hedge VBG cord-035342-sf0zld5z 656 24 real real JJ cord-035342-sf0zld5z 656 25 exchange exchange NN cord-035342-sf0zld5z 656 26 rate rate NN cord-035342-sf0zld5z 656 27 volatility volatility NN cord-035342-sf0zld5z 656 28 . . . cord-035342-sf0zld5z 657 1 In in IN cord-035342-sf0zld5z 657 2 a a DT cord-035342-sf0zld5z 657 3 twocountry twocountry NN cord-035342-sf0zld5z 657 4 equilibrium equilibrium NN cord-035342-sf0zld5z 657 5 model model NN cord-035342-sf0zld5z 657 6 , , , cord-035342-sf0zld5z 657 7 distribution distribution NN cord-035342-sf0zld5z 657 8 costs cost NNS cord-035342-sf0zld5z 657 9 lead lead VBP cord-035342-sf0zld5z 657 10 to to IN cord-035342-sf0zld5z 657 11 international international JJ cord-035342-sf0zld5z 657 12 price price NN cord-035342-sf0zld5z 657 13 differences difference NNS cord-035342-sf0zld5z 657 14 and and CC cord-035342-sf0zld5z 657 15 real real JJ cord-035342-sf0zld5z 657 16 exchange exchange NN cord-035342-sf0zld5z 657 17 rate rate NN cord-035342-sf0zld5z 657 18 fluctuations fluctuation NNS cord-035342-sf0zld5z 657 19 . . . cord-035342-sf0zld5z 658 1 Investors investor NNS cord-035342-sf0zld5z 658 2 try try VBP cord-035342-sf0zld5z 658 3 to to TO cord-035342-sf0zld5z 658 4 hedge hedge VB cord-035342-sf0zld5z 658 5 against against IN cord-035342-sf0zld5z 658 6 real real JJ cord-035342-sf0zld5z 658 7 exchange exchange NN cord-035342-sf0zld5z 658 8 rate rate NN cord-035342-sf0zld5z 658 9 risk risk NN cord-035342-sf0zld5z 658 10 by by IN cord-035342-sf0zld5z 658 11 exhibiting exhibit VBG cord-035342-sf0zld5z 658 12 home home NN cord-035342-sf0zld5z 658 13 bias bias NN cord-035342-sf0zld5z 658 14 ( ( -LRB- cord-035342-sf0zld5z 658 15 Harms Harms NNP cord-035342-sf0zld5z 658 16 et et FW cord-035342-sf0zld5z 658 17 al al NNP cord-035342-sf0zld5z 658 18 . . NNP cord-035342-sf0zld5z 658 19 2015 2015 CD cord-035342-sf0zld5z 658 20 ) ) -RRB- cord-035342-sf0zld5z 658 21 . . . cord-035342-sf0zld5z 659 1 Michaelides Michaelides NNP cord-035342-sf0zld5z 659 2 ( ( -LRB- cord-035342-sf0zld5z 659 3 2003 2003 CD cord-035342-sf0zld5z 659 4 ) ) -RRB- cord-035342-sf0zld5z 659 5 also also RB cord-035342-sf0zld5z 659 6 shows show VBZ cord-035342-sf0zld5z 659 7 that that IN cord-035342-sf0zld5z 659 8 the the DT cord-035342-sf0zld5z 659 9 exchange exchange NN cord-035342-sf0zld5z 659 10 rate rate NN cord-035342-sf0zld5z 659 11 volatility volatility NN cord-035342-sf0zld5z 659 12 has have VBZ cord-035342-sf0zld5z 659 13 a a DT cord-035342-sf0zld5z 659 14 positive positive JJ cord-035342-sf0zld5z 659 15 impact impact NN cord-035342-sf0zld5z 659 16 on on IN cord-035342-sf0zld5z 659 17 home home NN cord-035342-sf0zld5z 659 18 bias bias NN cord-035342-sf0zld5z 659 19 . . . cord-035342-sf0zld5z 660 1 Challenging challenge VBG cord-035342-sf0zld5z 660 2 these these DT cord-035342-sf0zld5z 660 3 findings finding NNS cord-035342-sf0zld5z 660 4 , , , cord-035342-sf0zld5z 660 5 hedging hedge VBG cord-035342-sf0zld5z 660 6 motives motive NNS cord-035342-sf0zld5z 660 7 may may MD cord-035342-sf0zld5z 660 8 be be VB cord-035342-sf0zld5z 660 9 rejected reject VBN cord-035342-sf0zld5z 660 10 for for IN cord-035342-sf0zld5z 660 11 explaining explain VBG cord-035342-sf0zld5z 660 12 home home NN cord-035342-sf0zld5z 660 13 bias bias NN cord-035342-sf0zld5z 660 14 when when WRB cord-035342-sf0zld5z 660 15 saying say VBG cord-035342-sf0zld5z 660 16 that that IN cord-035342-sf0zld5z 660 17 " " `` cord-035342-sf0zld5z 660 18 hedging hedge VBG cord-035342-sf0zld5z 660 19 against against IN cord-035342-sf0zld5z 660 20 price price NN cord-035342-sf0zld5z 660 21 uncertainty uncertainty NN cord-035342-sf0zld5z 660 22 is be VBZ cord-035342-sf0zld5z 660 23 neither neither CC cord-035342-sf0zld5z 660 24 necessary necessary JJ cord-035342-sf0zld5z 660 25 nor nor CC cord-035342-sf0zld5z 660 26 sufficient sufficient JJ cord-035342-sf0zld5z 660 27 for for IN cord-035342-sf0zld5z 660 28 home home NN cord-035342-sf0zld5z 660 29 asset asset NN cord-035342-sf0zld5z 660 30 preference preference NN cord-035342-sf0zld5z 660 31 " " '' cord-035342-sf0zld5z 660 32 ( ( -LRB- cord-035342-sf0zld5z 660 33 Eldor Eldor NNP cord-035342-sf0zld5z 660 34 et et NNP cord-035342-sf0zld5z 660 35 al al NNP cord-035342-sf0zld5z 660 36 . . . cord-035342-sf0zld5z 661 1 1988 1988 CD cord-035342-sf0zld5z 661 2 , , , cord-035342-sf0zld5z 661 3 p. p. NN cord-035342-sf0zld5z 661 4 165 165 CD cord-035342-sf0zld5z 661 5 ) ) -RRB- cord-035342-sf0zld5z 661 6 . . . cord-035342-sf0zld5z 662 1 However however RB cord-035342-sf0zld5z 662 2 , , , cord-035342-sf0zld5z 662 3 all all DT cord-035342-sf0zld5z 662 4 of of IN cord-035342-sf0zld5z 662 5 these these DT cord-035342-sf0zld5z 662 6 three three CD cord-035342-sf0zld5z 662 7 studies study NNS cord-035342-sf0zld5z 662 8 are be VBP cord-035342-sf0zld5z 662 9 model model NN cord-035342-sf0zld5z 662 10 - - HYPH cord-035342-sf0zld5z 662 11 based base VBN cord-035342-sf0zld5z 662 12 and and CC cord-035342-sf0zld5z 662 13 not not RB cord-035342-sf0zld5z 662 14 entirely entirely RB cord-035342-sf0zld5z 662 15 underlined underline VBN cord-035342-sf0zld5z 662 16 by by IN cord-035342-sf0zld5z 662 17 empirical empirical JJ cord-035342-sf0zld5z 662 18 evidence evidence NN cord-035342-sf0zld5z 662 19 . . . cord-035342-sf0zld5z 663 1 Fidora Fidora NNP cord-035342-sf0zld5z 663 2 et et NNP cord-035342-sf0zld5z 663 3 al al NNP cord-035342-sf0zld5z 663 4 . . . cord-035342-sf0zld5z 664 1 ( ( -LRB- cord-035342-sf0zld5z 664 2 2007 2007 CD cord-035342-sf0zld5z 664 3 ) ) -RRB- cord-035342-sf0zld5z 664 4 give give VB cord-035342-sf0zld5z 664 5 empirical empirical JJ cord-035342-sf0zld5z 664 6 evidence evidence NN cord-035342-sf0zld5z 664 7 and and CC cord-035342-sf0zld5z 664 8 acts act NNS cord-035342-sf0zld5z 664 9 in in IN cord-035342-sf0zld5z 664 10 favour favour NN cord-035342-sf0zld5z 664 11 of of IN cord-035342-sf0zld5z 664 12 Harms Harms NNP cord-035342-sf0zld5z 664 13 et et FW cord-035342-sf0zld5z 664 14 al al NNP cord-035342-sf0zld5z 664 15 . . . cord-035342-sf0zld5z 665 1 ( ( -LRB- cord-035342-sf0zld5z 665 2 2015 2015 CD cord-035342-sf0zld5z 665 3 ) ) -RRB- cord-035342-sf0zld5z 665 4 confirming confirm VBG cord-035342-sf0zld5z 665 5 the the DT cord-035342-sf0zld5z 665 6 hedging hedge VBG cord-035342-sf0zld5z 665 7 motive motive NN cord-035342-sf0zld5z 665 8 against against IN cord-035342-sf0zld5z 665 9 real real JJ cord-035342-sf0zld5z 665 10 exchange exchange NN cord-035342-sf0zld5z 665 11 rate rate NN cord-035342-sf0zld5z 665 12 volatility volatility NN cord-035342-sf0zld5z 665 13 . . . cord-035342-sf0zld5z 666 1 Changes change NNS cord-035342-sf0zld5z 666 2 in in IN cord-035342-sf0zld5z 666 3 the the DT cord-035342-sf0zld5z 666 4 real real JJ cord-035342-sf0zld5z 666 5 exchange exchange NN cord-035342-sf0zld5z 666 6 rate rate NN cord-035342-sf0zld5z 666 7 do do VBP cord-035342-sf0zld5z 666 8 have have VB cord-035342-sf0zld5z 666 9 a a DT cord-035342-sf0zld5z 666 10 positive positive JJ cord-035342-sf0zld5z 666 11 relation relation NN cord-035342-sf0zld5z 666 12 to to IN cord-035342-sf0zld5z 666 13 home home NN cord-035342-sf0zld5z 666 14 bias bias NN cord-035342-sf0zld5z 666 15 . . . cord-035342-sf0zld5z 667 1 The the DT cord-035342-sf0zld5z 667 2 impact impact NN cord-035342-sf0zld5z 667 3 is be VBZ cord-035342-sf0zld5z 667 4 higher high JJR cord-035342-sf0zld5z 667 5 for for IN cord-035342-sf0zld5z 667 6 home home NN cord-035342-sf0zld5z 667 7 bias bias NN cord-035342-sf0zld5z 667 8 in in IN cord-035342-sf0zld5z 667 9 bonds bond NNS cord-035342-sf0zld5z 667 10 because because IN cord-035342-sf0zld5z 667 11 bond bond NN cord-035342-sf0zld5z 667 12 returns return NNS cord-035342-sf0zld5z 667 13 are be VBP cord-035342-sf0zld5z 667 14 a a DT cord-035342-sf0zld5z 667 15 priori priori RB cord-035342-sf0zld5z 667 16 less less RBR cord-035342-sf0zld5z 667 17 volatile volatile JJ cord-035342-sf0zld5z 667 18 than than IN cord-035342-sf0zld5z 667 19 returns return NNS cord-035342-sf0zld5z 667 20 on on IN cord-035342-sf0zld5z 667 21 equity equity NN cord-035342-sf0zld5z 667 22 , , , cord-035342-sf0zld5z 667 23 thus thus RB cord-035342-sf0zld5z 667 24 the the DT cord-035342-sf0zld5z 667 25 volatility volatility NN cord-035342-sf0zld5z 667 26 of of IN cord-035342-sf0zld5z 667 27 the the DT cord-035342-sf0zld5z 667 28 real real JJ cord-035342-sf0zld5z 667 29 exchange exchange NN cord-035342-sf0zld5z 667 30 rate rate NN cord-035342-sf0zld5z 667 31 can can MD cord-035342-sf0zld5z 667 32 influence influence VB cord-035342-sf0zld5z 667 33 stronger strong JJR cord-035342-sf0zld5z 667 34 . . . cord-035342-sf0zld5z 668 1 Fidora Fidora NNP cord-035342-sf0zld5z 668 2 et et NNP cord-035342-sf0zld5z 668 3 al al NNP cord-035342-sf0zld5z 668 4 . . . cord-035342-sf0zld5z 669 1 ( ( -LRB- cord-035342-sf0zld5z 669 2 2007 2007 CD cord-035342-sf0zld5z 669 3 ) ) -RRB- cord-035342-sf0zld5z 669 4 show show VBP cord-035342-sf0zld5z 669 5 that that IN cord-035342-sf0zld5z 669 6 if if IN cord-035342-sf0zld5z 669 7 the the DT cord-035342-sf0zld5z 669 8 real real JJ cord-035342-sf0zld5z 669 9 exchange exchange NN cord-035342-sf0zld5z 669 10 rate rate NN cord-035342-sf0zld5z 669 11 volatility volatility NN cord-035342-sf0zld5z 669 12 is be VBZ cord-035342-sf0zld5z 669 13 set set VBN cord-035342-sf0zld5z 669 14 to to IN cord-035342-sf0zld5z 669 15 zero zero CD cord-035342-sf0zld5z 669 16 , , , cord-035342-sf0zld5z 669 17 home home NN cord-035342-sf0zld5z 669 18 bias bias NN cord-035342-sf0zld5z 669 19 in in IN cord-035342-sf0zld5z 669 20 bonds bond NNS cord-035342-sf0zld5z 669 21 can can MD cord-035342-sf0zld5z 669 22 be be VB cord-035342-sf0zld5z 669 23 reduced reduce VBN cord-035342-sf0zld5z 669 24 by by IN cord-035342-sf0zld5z 669 25 60 60 CD cord-035342-sf0zld5z 669 26 % % NN cord-035342-sf0zld5z 669 27 points point NNS cord-035342-sf0zld5z 669 28 whereas whereas IN cord-035342-sf0zld5z 669 29 equity equity NN cord-035342-sf0zld5z 669 30 home home NN cord-035342-sf0zld5z 669 31 bias bias NN cord-035342-sf0zld5z 669 32 decreases decrease VBZ cord-035342-sf0zld5z 669 33 only only RB cord-035342-sf0zld5z 669 34 by by IN cord-035342-sf0zld5z 669 35 about about RB cord-035342-sf0zld5z 669 36 20 20 CD cord-035342-sf0zld5z 669 37 % % NN cord-035342-sf0zld5z 669 38 points point NNS cord-035342-sf0zld5z 669 39 . . . cord-035342-sf0zld5z 670 1 Real real JJ cord-035342-sf0zld5z 670 2 exchange exchange NN cord-035342-sf0zld5z 670 3 rate rate NN cord-035342-sf0zld5z 670 4 hedging hedging NN cord-035342-sf0zld5z 670 5 is be VBZ cord-035342-sf0zld5z 670 6 related relate VBN cord-035342-sf0zld5z 670 7 to to IN cord-035342-sf0zld5z 670 8 hedging hedge VBG cord-035342-sf0zld5z 670 9 PPP PPP NNP cord-035342-sf0zld5z 670 10 deviations deviation NNS cord-035342-sf0zld5z 670 11 and and CC cord-035342-sf0zld5z 670 12 inflation inflation NN cord-035342-sf0zld5z 670 13 risks risk NNS cord-035342-sf0zld5z 670 14 . . . cord-035342-sf0zld5z 671 1 With with IN cord-035342-sf0zld5z 671 2 incorporating incorporate VBG cord-035342-sf0zld5z 671 3 both both DT cord-035342-sf0zld5z 671 4 inflation inflation NN cord-035342-sf0zld5z 671 5 risk risk NN cord-035342-sf0zld5z 671 6 and and CC cord-035342-sf0zld5z 671 7 deviations deviation NNS cord-035342-sf0zld5z 671 8 from from IN cord-035342-sf0zld5z 671 9 PPP PPP NNP cord-035342-sf0zld5z 671 10 in in IN cord-035342-sf0zld5z 671 11 their -PRON- PRP$ cord-035342-sf0zld5z 671 12 model model NN cord-035342-sf0zld5z 671 13 , , , cord-035342-sf0zld5z 671 14 Adler Adler NNP cord-035342-sf0zld5z 671 15 and and CC cord-035342-sf0zld5z 671 16 Dumas Dumas NNP cord-035342-sf0zld5z 671 17 ( ( -LRB- cord-035342-sf0zld5z 671 18 1983 1983 CD cord-035342-sf0zld5z 671 19 ) ) -RRB- cord-035342-sf0zld5z 671 20 find find VBP cord-035342-sf0zld5z 671 21 that that IN cord-035342-sf0zld5z 671 22 people people NNS cord-035342-sf0zld5z 671 23 in in IN cord-035342-sf0zld5z 671 24 different different JJ cord-035342-sf0zld5z 671 25 countries country NNS cord-035342-sf0zld5z 671 26 hold hold VBP cord-035342-sf0zld5z 671 27 divergent divergent JJ cord-035342-sf0zld5z 671 28 portfolios portfolio NNS cord-035342-sf0zld5z 671 29 . . . cord-035342-sf0zld5z 672 1 The the DT cord-035342-sf0zld5z 672 2 difference difference NN cord-035342-sf0zld5z 672 3 should should MD cord-035342-sf0zld5z 672 4 be be VB cord-035342-sf0zld5z 672 5 able able JJ cord-035342-sf0zld5z 672 6 to to TO cord-035342-sf0zld5z 672 7 hedge hedge VB cord-035342-sf0zld5z 672 8 the the DT cord-035342-sf0zld5z 672 9 inflation inflation NN cord-035342-sf0zld5z 672 10 risk risk NN cord-035342-sf0zld5z 672 11 . . . cord-035342-sf0zld5z 673 1 The the DT cord-035342-sf0zld5z 673 2 model model NN cord-035342-sf0zld5z 673 3 of of IN cord-035342-sf0zld5z 673 4 Stulz Stulz NNP cord-035342-sf0zld5z 673 5 ( ( -LRB- cord-035342-sf0zld5z 673 6 1981b 1981b CD cord-035342-sf0zld5z 673 7 ) ) -RRB- cord-035342-sf0zld5z 673 8 also also RB cord-035342-sf0zld5z 673 9 acts act VBZ cord-035342-sf0zld5z 673 10 in in IN cord-035342-sf0zld5z 673 11 favour favour NN cord-035342-sf0zld5z 673 12 of of IN cord-035342-sf0zld5z 673 13 these these DT cord-035342-sf0zld5z 673 14 explanations explanation NNS cord-035342-sf0zld5z 673 15 that that IN cord-035342-sf0zld5z 673 16 investors investor NNS cord-035342-sf0zld5z 673 17 desire desire VBP cord-035342-sf0zld5z 673 18 a a DT cord-035342-sf0zld5z 673 19 hedge hedge NN cord-035342-sf0zld5z 673 20 against against IN cord-035342-sf0zld5z 673 21 PPP PPP NNP cord-035342-sf0zld5z 673 22 deviations deviation NNS cord-035342-sf0zld5z 673 23 and and CC cord-035342-sf0zld5z 673 24 inflation inflation NN cord-035342-sf0zld5z 673 25 risk risk NN cord-035342-sf0zld5z 673 26 . . . cord-035342-sf0zld5z 674 1 However however RB cord-035342-sf0zld5z 674 2 , , , cord-035342-sf0zld5z 674 3 Cooper Cooper NNP cord-035342-sf0zld5z 674 4 and and CC cord-035342-sf0zld5z 674 5 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 674 6 ( ( -LRB- cord-035342-sf0zld5z 674 7 1994 1994 CD cord-035342-sf0zld5z 674 8 ) ) -RRB- cord-035342-sf0zld5z 674 9 challenge challenge VBP cord-035342-sf0zld5z 674 10 the the DT cord-035342-sf0zld5z 674 11 main main JJ cord-035342-sf0zld5z 674 12 result result NN cord-035342-sf0zld5z 674 13 of of IN cord-035342-sf0zld5z 674 14 the the DT cord-035342-sf0zld5z 674 15 model model NN cord-035342-sf0zld5z 674 16 of of IN cord-035342-sf0zld5z 674 17 Adler Adler NNP cord-035342-sf0zld5z 674 18 and and CC cord-035342-sf0zld5z 674 19 Dumas Dumas NNP cord-035342-sf0zld5z 674 20 ( ( -LRB- cord-035342-sf0zld5z 674 21 1983 1983 CD cord-035342-sf0zld5z 674 22 ) ) -RRB- cord-035342-sf0zld5z 674 23 . . . cord-035342-sf0zld5z 675 1 They -PRON- PRP cord-035342-sf0zld5z 675 2 test test VBP cord-035342-sf0zld5z 675 3 the the DT cord-035342-sf0zld5z 675 4 model model NN cord-035342-sf0zld5z 675 5 with with IN cord-035342-sf0zld5z 675 6 empirical empirical JJ cord-035342-sf0zld5z 675 7 data datum NNS cord-035342-sf0zld5z 675 8 from from IN cord-035342-sf0zld5z 675 9 eight eight CD cord-035342-sf0zld5z 675 10 developed develop VBN cord-035342-sf0zld5z 675 11 markets market NNS cord-035342-sf0zld5z 675 12 ( ( -LRB- cord-035342-sf0zld5z 675 13 i. i. NNP cord-035342-sf0zld5z 675 14 a. a. NN cord-035342-sf0zld5z 676 1 the the DT cord-035342-sf0zld5z 676 2 UK UK NNP cord-035342-sf0zld5z 676 3 , , , cord-035342-sf0zld5z 676 4 the the DT cord-035342-sf0zld5z 676 5 U.S. U.S. NNP cord-035342-sf0zld5z 676 6 , , , cord-035342-sf0zld5z 676 7 Germany Germany NNP cord-035342-sf0zld5z 676 8 , , , cord-035342-sf0zld5z 676 9 Japan Japan NNP cord-035342-sf0zld5z 676 10 ) ) -RRB- cord-035342-sf0zld5z 676 11 . . . cord-035342-sf0zld5z 677 1 Hedging hedge VBG cord-035342-sf0zld5z 677 2 just just RB cord-035342-sf0zld5z 677 3 would would MD cord-035342-sf0zld5z 677 4 be be VB cord-035342-sf0zld5z 677 5 a a DT cord-035342-sf0zld5z 677 6 possible possible JJ cord-035342-sf0zld5z 677 7 reason reason NN cord-035342-sf0zld5z 677 8 if if IN cord-035342-sf0zld5z 677 9 there there EX cord-035342-sf0zld5z 677 10 is be VBZ cord-035342-sf0zld5z 677 11 a a DT cord-035342-sf0zld5z 677 12 negative negative JJ cord-035342-sf0zld5z 677 13 correlation correlation NN cord-035342-sf0zld5z 677 14 between between IN cord-035342-sf0zld5z 677 15 equity equity NN cord-035342-sf0zld5z 677 16 returns return NNS cord-035342-sf0zld5z 677 17 and and CC cord-035342-sf0zld5z 677 18 domestic domestic JJ cord-035342-sf0zld5z 677 19 inflation inflation NN cord-035342-sf0zld5z 677 20 and and CC cord-035342-sf0zld5z 677 21 if if IN cord-035342-sf0zld5z 677 22 investors investor NNS cord-035342-sf0zld5z 677 23 have have VBP cord-035342-sf0zld5z 677 24 a a DT cord-035342-sf0zld5z 677 25 very very RB cord-035342-sf0zld5z 677 26 low low JJ cord-035342-sf0zld5z 677 27 level level NN cord-035342-sf0zld5z 677 28 of of IN cord-035342-sf0zld5z 677 29 risk risk NN cord-035342-sf0zld5z 677 30 aversion aversion NN cord-035342-sf0zld5z 677 31 which which WDT cord-035342-sf0zld5z 677 32 is be VBZ cord-035342-sf0zld5z 677 33 typically typically RB cord-035342-sf0zld5z 677 34 not not RB cord-035342-sf0zld5z 677 35 assumed assume VBN cord-035342-sf0zld5z 677 36 in in IN cord-035342-sf0zld5z 677 37 real real JJ cord-035342-sf0zld5z 677 38 economy economy NN cord-035342-sf0zld5z 677 39 ( ( -LRB- cord-035342-sf0zld5z 677 40 Cooper Cooper NNP cord-035342-sf0zld5z 677 41 and and CC cord-035342-sf0zld5z 677 42 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 677 43 1994 1994 CD cord-035342-sf0zld5z 677 44 ) ) -RRB- cord-035342-sf0zld5z 677 45 . . . cord-035342-sf0zld5z 678 1 Hedging hedge VBG cord-035342-sf0zld5z 678 2 ( ( -LRB- cord-035342-sf0zld5z 678 3 of of IN cord-035342-sf0zld5z 678 4 inflation inflation NN cord-035342-sf0zld5z 678 5 risk risk NN cord-035342-sf0zld5z 678 6 ) ) -RRB- cord-035342-sf0zld5z 678 7 can can MD cord-035342-sf0zld5z 678 8 just just RB cord-035342-sf0zld5z 678 9 be be VB cord-035342-sf0zld5z 678 10 attributed attribute VBN cord-035342-sf0zld5z 678 11 as as IN cord-035342-sf0zld5z 678 12 a a DT cord-035342-sf0zld5z 678 13 reason reason NN cord-035342-sf0zld5z 678 14 for for IN cord-035342-sf0zld5z 678 15 home home NN cord-035342-sf0zld5z 678 16 bias bias NN cord-035342-sf0zld5z 678 17 if if IN cord-035342-sf0zld5z 678 18 risk risk NN cord-035342-sf0zld5z 678 19 aversions aversion NNS cord-035342-sf0zld5z 678 20 are be VBP cord-035342-sf0zld5z 678 21 set set VBN cord-035342-sf0zld5z 678 22 at at IN cord-035342-sf0zld5z 678 23 a a DT cord-035342-sf0zld5z 678 24 very very RB cord-035342-sf0zld5z 678 25 low low JJ cord-035342-sf0zld5z 678 26 level level NN cord-035342-sf0zld5z 678 27 in in IN cord-035342-sf0zld5z 678 28 various various JJ cord-035342-sf0zld5z 678 29 models model NNS cord-035342-sf0zld5z 678 30 ( ( -LRB- cord-035342-sf0zld5z 678 31 e.g. e.g. JJ cord-035342-sf0zld5z 678 32 model model NN cord-035342-sf0zld5z 678 33 of of IN cord-035342-sf0zld5z 678 34 Adler Adler NNP cord-035342-sf0zld5z 678 35 and and CC cord-035342-sf0zld5z 678 36 Dumas Dumas NNP cord-035342-sf0zld5z 678 37 ( ( -LRB- cord-035342-sf0zld5z 678 38 1983 1983 CD cord-035342-sf0zld5z 678 39 ) ) -RRB- cord-035342-sf0zld5z 678 40 and and CC cord-035342-sf0zld5z 678 41 Stulz Stulz NNP cord-035342-sf0zld5z 678 42 ( ( -LRB- cord-035342-sf0zld5z 678 43 1981a 1981a CD cord-035342-sf0zld5z 678 44 , , , cord-035342-sf0zld5z 678 45 b b LS cord-035342-sf0zld5z 678 46 ) ) -RRB- cord-035342-sf0zld5z 678 47 ) ) -RRB- cord-035342-sf0zld5z 678 48 . . . cord-035342-sf0zld5z 679 1 In in IN cord-035342-sf0zld5z 679 2 contrast contrast NN cord-035342-sf0zld5z 679 3 to to IN cord-035342-sf0zld5z 679 4 these these DT cord-035342-sf0zld5z 679 5 theoretical theoretical JJ cord-035342-sf0zld5z 679 6 considerations consideration NNS cord-035342-sf0zld5z 679 7 and and CC cord-035342-sf0zld5z 679 8 with with IN cord-035342-sf0zld5z 679 9 conventionally conventionally RB cord-035342-sf0zld5z 679 10 assumed assume VBN cord-035342-sf0zld5z 679 11 levels level NNS cord-035342-sf0zld5z 679 12 of of IN cord-035342-sf0zld5z 679 13 risk risk NN cord-035342-sf0zld5z 679 14 aversion aversion NN cord-035342-sf0zld5z 679 15 , , , cord-035342-sf0zld5z 679 16 Uppal Uppal NNP cord-035342-sf0zld5z 679 17 ( ( -LRB- cord-035342-sf0zld5z 679 18 1993 1993 CD cord-035342-sf0zld5z 679 19 ) ) -RRB- cord-035342-sf0zld5z 679 20 even even RB cord-035342-sf0zld5z 679 21 shows show VBZ cord-035342-sf0zld5z 679 22 that that IN cord-035342-sf0zld5z 679 23 investors investor NNS cord-035342-sf0zld5z 679 24 should should MD cord-035342-sf0zld5z 679 25 prefer prefer VB cord-035342-sf0zld5z 679 26 foreign foreign JJ cord-035342-sf0zld5z 679 27 investments investment NNS cord-035342-sf0zld5z 679 28 in in IN cord-035342-sf0zld5z 679 29 such such PDT cord-035342-sf0zld5z 679 30 a a DT cord-035342-sf0zld5z 679 31 setting setting NN cord-035342-sf0zld5z 679 32 . . . cord-035342-sf0zld5z 680 1 Also also RB cord-035342-sf0zld5z 680 2 , , , cord-035342-sf0zld5z 680 3 Mishra Mishra NNP cord-035342-sf0zld5z 680 4 ( ( -LRB- cord-035342-sf0zld5z 680 5 2015 2015 CD cord-035342-sf0zld5z 680 6 ) ) -RRB- cord-035342-sf0zld5z 680 7 finds find VBZ cord-035342-sf0zld5z 680 8 no no DT cord-035342-sf0zld5z 680 9 significant significant JJ cord-035342-sf0zld5z 680 10 correlation correlation NN cord-035342-sf0zld5z 680 11 between between IN cord-035342-sf0zld5z 680 12 inflation inflation NN cord-035342-sf0zld5z 680 13 and and CC cord-035342-sf0zld5z 680 14 home home NN cord-035342-sf0zld5z 680 15 bias bias NN cord-035342-sf0zld5z 680 16 . . . cord-035342-sf0zld5z 681 1 Glassman Glassman NNP cord-035342-sf0zld5z 681 2 and and CC cord-035342-sf0zld5z 681 3 Riddick Riddick NNP cord-035342-sf0zld5z 681 4 ( ( -LRB- cord-035342-sf0zld5z 681 5 2001 2001 CD cord-035342-sf0zld5z 681 6 ) ) -RRB- cord-035342-sf0zld5z 681 7 claim claim VBP cord-035342-sf0zld5z 681 8 that that IN cord-035342-sf0zld5z 681 9 , , , cord-035342-sf0zld5z 681 10 with with IN cord-035342-sf0zld5z 681 11 a a DT cord-035342-sf0zld5z 681 12 slightly slightly RB cord-035342-sf0zld5z 681 13 different different JJ cord-035342-sf0zld5z 681 14 approach approach NN cord-035342-sf0zld5z 681 15 and and CC cord-035342-sf0zld5z 681 16 a a DT cord-035342-sf0zld5z 681 17 relaxation relaxation NN cord-035342-sf0zld5z 681 18 of of IN cord-035342-sf0zld5z 681 19 the the DT cord-035342-sf0zld5z 681 20 PPP PPP NNP cord-035342-sf0zld5z 681 21 assumption assumption NN cord-035342-sf0zld5z 681 22 , , , cord-035342-sf0zld5z 681 23 some some DT cord-035342-sf0zld5z 681 24 of of IN cord-035342-sf0zld5z 681 25 the the DT cord-035342-sf0zld5z 681 26 home home NN cord-035342-sf0zld5z 681 27 bias bias NN cord-035342-sf0zld5z 681 28 by by IN cord-035342-sf0zld5z 681 29 Cooper Cooper NNP cord-035342-sf0zld5z 681 30 and and CC cord-035342-sf0zld5z 681 31 Kaplanis Kaplanis NNP cord-035342-sf0zld5z 681 32 ( ( -LRB- cord-035342-sf0zld5z 681 33 1994 1994 CD cord-035342-sf0zld5z 681 34 ) ) -RRB- cord-035342-sf0zld5z 681 35 can can MD cord-035342-sf0zld5z 681 36 be be VB cord-035342-sf0zld5z 681 37 explained explain VBN cord-035342-sf0zld5z 681 38 . . . cord-035342-sf0zld5z 682 1 Additionally additionally RB cord-035342-sf0zld5z 682 2 , , , cord-035342-sf0zld5z 682 3 some some DT cord-035342-sf0zld5z 682 4 other other JJ cord-035342-sf0zld5z 682 5 hedging hedge VBG cord-035342-sf0zld5z 682 6 motives motive NNS cord-035342-sf0zld5z 682 7 are be VBP cord-035342-sf0zld5z 682 8 considered consider VBN cord-035342-sf0zld5z 682 9 to to TO cord-035342-sf0zld5z 682 10 explain explain VB cord-035342-sf0zld5z 682 11 the the DT cord-035342-sf0zld5z 682 12 home home NN cord-035342-sf0zld5z 682 13 bias bias NN cord-035342-sf0zld5z 682 14 . . . cord-035342-sf0zld5z 683 1 Stockman Stockman NNP cord-035342-sf0zld5z 683 2 and and CC cord-035342-sf0zld5z 683 3 Dellas Dellas NNP cord-035342-sf0zld5z 683 4 ( ( -LRB- cord-035342-sf0zld5z 683 5 1989 1989 CD cord-035342-sf0zld5z 683 6 ) ) -RRB- cord-035342-sf0zld5z 683 7 show show VBP cord-035342-sf0zld5z 683 8 model model NN cord-035342-sf0zld5z 683 9 - - HYPH cord-035342-sf0zld5z 683 10 based base VBN cord-035342-sf0zld5z 683 11 that that IN cord-035342-sf0zld5z 683 12 hedging hedge VBG cord-035342-sf0zld5z 683 13 against against IN cord-035342-sf0zld5z 683 14 price price NN cord-035342-sf0zld5z 683 15 uncertainty uncertainty NN cord-035342-sf0zld5z 683 16 of of IN cord-035342-sf0zld5z 683 17 nontraded nontraded JJ cord-035342-sf0zld5z 683 18 goods good NNS cord-035342-sf0zld5z 683 19 induces induce VBZ cord-035342-sf0zld5z 683 20 home home NN cord-035342-sf0zld5z 683 21 bias bias NN cord-035342-sf0zld5z 683 22 . . . cord-035342-sf0zld5z 684 1 Tesar Tesar NNP cord-035342-sf0zld5z 684 2 and and CC cord-035342-sf0zld5z 684 3 Werner Werner NNP cord-035342-sf0zld5z 684 4 ( ( -LRB- cord-035342-sf0zld5z 684 5 1995 1995 CD cord-035342-sf0zld5z 684 6 ) ) -RRB- cord-035342-sf0zld5z 684 7 show show VBP cord-035342-sf0zld5z 684 8 for for IN cord-035342-sf0zld5z 684 9 five five CD cord-035342-sf0zld5z 684 10 OECD OECD NNP cord-035342-sf0zld5z 684 11 countries country NNS cord-035342-sf0zld5z 684 12 that that WDT cord-035342-sf0zld5z 684 13 holding hold VBG cord-035342-sf0zld5z 684 14 a a DT cord-035342-sf0zld5z 684 15 disproportionate disproportionate JJ cord-035342-sf0zld5z 684 16 number number NN cord-035342-sf0zld5z 684 17 of of IN cord-035342-sf0zld5z 684 18 domestic domestic JJ cord-035342-sf0zld5z 684 19 assets asset NNS cord-035342-sf0zld5z 684 20 can can MD cord-035342-sf0zld5z 684 21 serve serve VB cord-035342-sf0zld5z 684 22 as as IN cord-035342-sf0zld5z 684 23 a a DT cord-035342-sf0zld5z 684 24 hedge hedge NN cord-035342-sf0zld5z 684 25 against against IN cord-035342-sf0zld5z 684 26 shocks shock NNS cord-035342-sf0zld5z 684 27 to to IN cord-035342-sf0zld5z 684 28 domestic domestic JJ cord-035342-sf0zld5z 684 29 income income NN cord-035342-sf0zld5z 684 30 which which WDT cord-035342-sf0zld5z 684 31 have have VBP cord-035342-sf0zld5z 684 32 to to TO cord-035342-sf0zld5z 684 33 happen happen VB cord-035342-sf0zld5z 684 34 frequent frequent JJ cord-035342-sf0zld5z 684 35 and and CC cord-035342-sf0zld5z 684 36 at at IN cord-035342-sf0zld5z 684 37 a a DT cord-035342-sf0zld5z 684 38 strong strong JJ cord-035342-sf0zld5z 684 39 extent extent NN cord-035342-sf0zld5z 684 40 . . . cord-035342-sf0zld5z 685 1 The the DT cord-035342-sf0zld5z 685 2 possibility possibility NN cord-035342-sf0zld5z 685 3 of of IN cord-035342-sf0zld5z 685 4 hedging hedge VBG cord-035342-sf0zld5z 685 5 human human JJ cord-035342-sf0zld5z 685 6 capital capital NN cord-035342-sf0zld5z 685 7 risks risk NNS cord-035342-sf0zld5z 685 8 is be VBZ cord-035342-sf0zld5z 685 9 also also RB cord-035342-sf0zld5z 685 10 incorporated incorporate VBN cord-035342-sf0zld5z 685 11 into into IN cord-035342-sf0zld5z 685 12 some some DT cord-035342-sf0zld5z 685 13 models model NNS cord-035342-sf0zld5z 685 14 and and CC cord-035342-sf0zld5z 685 15 examined examine VBD cord-035342-sf0zld5z 685 16 empirically empirically RB cord-035342-sf0zld5z 685 17 ( ( -LRB- cord-035342-sf0zld5z 685 18 Baxter Baxter NNP cord-035342-sf0zld5z 685 19 et et NNP cord-035342-sf0zld5z 685 20 al al NNP cord-035342-sf0zld5z 685 21 . . NNP cord-035342-sf0zld5z 685 22 1998 1998 CD cord-035342-sf0zld5z 685 23 ; ; : cord-035342-sf0zld5z 685 24 Coën Coën NNP cord-035342-sf0zld5z 685 25 2001 2001 CD cord-035342-sf0zld5z 685 26 ) ) -RRB- cord-035342-sf0zld5z 685 27 . . . cord-035342-sf0zld5z 686 1 The the DT cord-035342-sf0zld5z 686 2 large large JJ cord-035342-sf0zld5z 686 3 part part NN cord-035342-sf0zld5z 686 4 of of IN cord-035342-sf0zld5z 686 5 studies study NNS cord-035342-sf0zld5z 686 6 finds find VBZ cord-035342-sf0zld5z 686 7 a a DT cord-035342-sf0zld5z 686 8 positive positive JJ cord-035342-sf0zld5z 686 9 correlation correlation NN cord-035342-sf0zld5z 686 10 between between IN cord-035342-sf0zld5z 686 11 returns return NNS cord-035342-sf0zld5z 686 12 on on IN cord-035342-sf0zld5z 686 13 domestic domestic JJ cord-035342-sf0zld5z 686 14 assets asset NNS cord-035342-sf0zld5z 686 15 and and CC cord-035342-sf0zld5z 686 16 human human JJ cord-035342-sf0zld5z 686 17 capital capital NN cord-035342-sf0zld5z 686 18 . . . cord-035342-sf0zld5z 687 1 9 9 CD cord-035342-sf0zld5z 688 1 Therefore therefore RB cord-035342-sf0zld5z 688 2 , , , cord-035342-sf0zld5z 688 3 using use VBG cord-035342-sf0zld5z 688 4 human human JJ cord-035342-sf0zld5z 688 5 capital capital NN cord-035342-sf0zld5z 688 6 as as IN cord-035342-sf0zld5z 688 7 a a DT cord-035342-sf0zld5z 688 8 hedge hedge NN cord-035342-sf0zld5z 688 9 is be VBZ cord-035342-sf0zld5z 688 10 not not RB cord-035342-sf0zld5z 688 11 reasonable reasonable JJ cord-035342-sf0zld5z 688 12 as as IN cord-035342-sf0zld5z 688 13 both both DT cord-035342-sf0zld5z 688 14 variables variable NNS cord-035342-sf0zld5z 688 15 show show VBP cord-035342-sf0zld5z 688 16 a a DT cord-035342-sf0zld5z 688 17 positive positive JJ cord-035342-sf0zld5z 688 18 and and CC cord-035342-sf0zld5z 688 19 no no DT cord-035342-sf0zld5z 688 20 reciprocal reciprocal JJ cord-035342-sf0zld5z 688 21 correlation correlation NN cord-035342-sf0zld5z 688 22 . . . cord-035342-sf0zld5z 689 1 Overall overall RB cord-035342-sf0zld5z 689 2 , , , cord-035342-sf0zld5z 689 3 the the DT cord-035342-sf0zld5z 689 4 evidence evidence NN cord-035342-sf0zld5z 689 5 on on IN cord-035342-sf0zld5z 689 6 hedging hedge VBG cord-035342-sf0zld5z 689 7 motives motive NNS cord-035342-sf0zld5z 689 8 is be VBZ cord-035342-sf0zld5z 689 9 discussed discuss VBN cord-035342-sf0zld5z 689 10 controversially controversially RB cord-035342-sf0zld5z 689 11 in in IN cord-035342-sf0zld5z 689 12 the the DT cord-035342-sf0zld5z 689 13 literature literature NN cord-035342-sf0zld5z 689 14 . . . cord-035342-sf0zld5z 690 1 Some some DT cord-035342-sf0zld5z 690 2 studies study NNS cord-035342-sf0zld5z 690 3 are be VBP cord-035342-sf0zld5z 690 4 supporting support VBG cord-035342-sf0zld5z 690 5 different different JJ cord-035342-sf0zld5z 690 6 hedging hedge VBG cord-035342-sf0zld5z 690 7 motives motive NNS cord-035342-sf0zld5z 690 8 as as IN cord-035342-sf0zld5z 690 9 an an DT cord-035342-sf0zld5z 690 10 explanation explanation NN cord-035342-sf0zld5z 690 11 for for IN cord-035342-sf0zld5z 690 12 home home NN cord-035342-sf0zld5z 690 13 bias bias NN cord-035342-sf0zld5z 690 14 , , , cord-035342-sf0zld5z 690 15 others other NNS cord-035342-sf0zld5z 690 16 cast cast VBD cord-035342-sf0zld5z 690 17 doubt doubt NN cord-035342-sf0zld5z 690 18 on on IN cord-035342-sf0zld5z 690 19 the the DT cord-035342-sf0zld5z 690 20 impact impact NN cord-035342-sf0zld5z 690 21 of of IN cord-035342-sf0zld5z 690 22 hedging hedging NN cord-035342-sf0zld5z 690 23 . . . cord-035342-sf0zld5z 691 1 The the DT cord-035342-sf0zld5z 691 2 evidence evidence NN cord-035342-sf0zld5z 691 3 that that IN cord-035342-sf0zld5z 691 4 hedging hedge VBG cord-035342-sf0zld5z 691 5 9 9 CD cord-035342-sf0zld5z 691 6 Only only RB cord-035342-sf0zld5z 691 7 Bottazzi Bottazzi NNP cord-035342-sf0zld5z 691 8 et et FW cord-035342-sf0zld5z 691 9 al al NNP cord-035342-sf0zld5z 691 10 . . . cord-035342-sf0zld5z 692 1 ( ( -LRB- cord-035342-sf0zld5z 692 2 1996 1996 CD cord-035342-sf0zld5z 692 3 ) ) -RRB- cord-035342-sf0zld5z 692 4 find find VB cord-035342-sf0zld5z 692 5 a a DT cord-035342-sf0zld5z 692 6 negative negative JJ cord-035342-sf0zld5z 692 7 correlation correlation NN cord-035342-sf0zld5z 692 8 between between IN cord-035342-sf0zld5z 692 9 human human JJ cord-035342-sf0zld5z 692 10 capital capital NN cord-035342-sf0zld5z 692 11 and and CC cord-035342-sf0zld5z 692 12 domestic domestic JJ cord-035342-sf0zld5z 692 13 securities security NNS cord-035342-sf0zld5z 692 14 . . . cord-035342-sf0zld5z 693 1 real real JJ cord-035342-sf0zld5z 693 2 exchange exchange NN cord-035342-sf0zld5z 693 3 rate rate NN cord-035342-sf0zld5z 693 4 risk risk NN cord-035342-sf0zld5z 693 5 is be VBZ cord-035342-sf0zld5z 693 6 part part NN cord-035342-sf0zld5z 693 7 of of IN cord-035342-sf0zld5z 693 8 an an DT cord-035342-sf0zld5z 693 9 explanation explanation NN cord-035342-sf0zld5z 693 10 of of IN cord-035342-sf0zld5z 693 11 home home NN cord-035342-sf0zld5z 693 12 bias bias NN cord-035342-sf0zld5z 693 13 seems seem VBZ cord-035342-sf0zld5z 693 14 strongest strong JJS cord-035342-sf0zld5z 693 15 . . . cord-035342-sf0zld5z 694 1 Since since IN cord-035342-sf0zld5z 694 2 most most JJS cord-035342-sf0zld5z 694 3 of of IN cord-035342-sf0zld5z 694 4 the the DT cord-035342-sf0zld5z 694 5 literature literature NN cord-035342-sf0zld5z 694 6 about about IN cord-035342-sf0zld5z 694 7 hedging hedging NN cord-035342-sf0zld5z 694 8 is be VBZ cord-035342-sf0zld5z 694 9 older old JJR cord-035342-sf0zld5z 694 10 than than IN cord-035342-sf0zld5z 694 11 20 20 CD cord-035342-sf0zld5z 694 12 years year NNS cord-035342-sf0zld5z 694 13 , , , cord-035342-sf0zld5z 694 14 examining examine VBG cord-035342-sf0zld5z 694 15 hedging hedge VBG cord-035342-sf0zld5z 694 16 motives motive NNS cord-035342-sf0zld5z 694 17 should should MD cord-035342-sf0zld5z 694 18 be be VB cord-035342-sf0zld5z 694 19 subject subject JJ cord-035342-sf0zld5z 694 20 for for IN cord-035342-sf0zld5z 694 21 further further JJ cord-035342-sf0zld5z 694 22 analyses analysis NNS cord-035342-sf0zld5z 694 23 nowadays nowadays RB cord-035342-sf0zld5z 694 24 , , , cord-035342-sf0zld5z 694 25 especially especially RB cord-035342-sf0zld5z 694 26 with with IN cord-035342-sf0zld5z 694 27 respect respect NN cord-035342-sf0zld5z 694 28 to to IN cord-035342-sf0zld5z 694 29 newly newly RB cord-035342-sf0zld5z 694 30 perceived perceive VBN cord-035342-sf0zld5z 694 31 uncertainties uncertainty NNS cord-035342-sf0zld5z 694 32 induced induce VBN cord-035342-sf0zld5z 694 33 by by IN cord-035342-sf0zld5z 694 34 the the DT cord-035342-sf0zld5z 694 35 coronavirus coronavirus NN cord-035342-sf0zld5z 694 36 pandemic pandemic NN cord-035342-sf0zld5z 694 37 . . . cord-035342-sf0zld5z 695 1 Since since IN cord-035342-sf0zld5z 695 2 home home NN cord-035342-sf0zld5z 695 3 bias bias NN cord-035342-sf0zld5z 695 4 and and CC cord-035342-sf0zld5z 695 5 local local JJ cord-035342-sf0zld5z 695 6 bias bias NN cord-035342-sf0zld5z 695 7 do do VBP cord-035342-sf0zld5z 695 8 not not RB cord-035342-sf0zld5z 695 9 follow follow VB cord-035342-sf0zld5z 695 10 standard standard JJ cord-035342-sf0zld5z 695 11 portfolio portfolio NN cord-035342-sf0zld5z 695 12 selection selection NN cord-035342-sf0zld5z 695 13 theory theory NN cord-035342-sf0zld5z 695 14 and and CC cord-035342-sf0zld5z 695 15 CAPM CAPM NNP cord-035342-sf0zld5z 695 16 , , , cord-035342-sf0zld5z 695 17 they -PRON- PRP cord-035342-sf0zld5z 695 18 have have VBP cord-035342-sf0zld5z 695 19 economic economic JJ cord-035342-sf0zld5z 695 20 implications implication NNS cord-035342-sf0zld5z 695 21 . . . cord-035342-sf0zld5z 696 1 Apart apart RB cord-035342-sf0zld5z 696 2 from from IN cord-035342-sf0zld5z 696 3 implications implication NNS cord-035342-sf0zld5z 696 4 at at IN cord-035342-sf0zld5z 696 5 the the DT cord-035342-sf0zld5z 696 6 microeconomic microeconomic JJ cord-035342-sf0zld5z 696 7 level level NN cord-035342-sf0zld5z 696 8 ( ( -LRB- cord-035342-sf0zld5z 696 9 differences difference NNS cord-035342-sf0zld5z 696 10 in in IN cord-035342-sf0zld5z 696 11 performance performance NN cord-035342-sf0zld5z 696 12 and and CC cord-035342-sf0zld5z 696 13 returns return NNS cord-035342-sf0zld5z 696 14 of of IN cord-035342-sf0zld5z 696 15 individual individual JJ cord-035342-sf0zld5z 696 16 investors investor NNS cord-035342-sf0zld5z 696 17 ' ' POS cord-035342-sf0zld5z 696 18 portfolios portfolio NNS cord-035342-sf0zld5z 696 19 ) ) -RRB- cord-035342-sf0zld5z 696 20 , , , cord-035342-sf0zld5z 696 21 there there EX cord-035342-sf0zld5z 696 22 is be VBZ cord-035342-sf0zld5z 696 23 also also RB cord-035342-sf0zld5z 696 24 an an DT cord-035342-sf0zld5z 696 25 impact impact NN cord-035342-sf0zld5z 696 26 on on IN cord-035342-sf0zld5z 696 27 a a DT cord-035342-sf0zld5z 696 28 macroeconomic macroeconomic JJ cord-035342-sf0zld5z 696 29 level level NN cord-035342-sf0zld5z 696 30 . . . cord-035342-sf0zld5z 697 1 The the DT cord-035342-sf0zld5z 697 2 most most RBS cord-035342-sf0zld5z 697 3 - - HYPH cord-035342-sf0zld5z 697 4 often often RB cord-035342-sf0zld5z 697 5 analysed analyse VBN cord-035342-sf0zld5z 697 6 implications implication NNS cord-035342-sf0zld5z 697 7 of of IN cord-035342-sf0zld5z 697 8 home home NN cord-035342-sf0zld5z 697 9 bias bias NN cord-035342-sf0zld5z 697 10 focus focus NN cord-035342-sf0zld5z 697 11 on on IN cord-035342-sf0zld5z 697 12 investment investment NN cord-035342-sf0zld5z 697 13 performance performance NN cord-035342-sf0zld5z 697 14 . . . cord-035342-sf0zld5z 698 1 Numerous numerous JJ cord-035342-sf0zld5z 698 2 studies study NNS cord-035342-sf0zld5z 698 3 examine examine VBP cord-035342-sf0zld5z 698 4 explicitly explicitly RB cord-035342-sf0zld5z 698 5 the the DT cord-035342-sf0zld5z 698 6 relation relation NN cord-035342-sf0zld5z 698 7 between between IN cord-035342-sf0zld5z 698 8 home home NN cord-035342-sf0zld5z 698 9 bias bias NN cord-035342-sf0zld5z 698 10 respectively respectively RB cord-035342-sf0zld5z 698 11 local local JJ cord-035342-sf0zld5z 698 12 bias bias NN cord-035342-sf0zld5z 698 13 and and CC cord-035342-sf0zld5z 698 14 the the DT cord-035342-sf0zld5z 698 15 performance performance NN cord-035342-sf0zld5z 698 16 of of IN cord-035342-sf0zld5z 698 17 such such JJ cord-035342-sf0zld5z 698 18 portfolios portfolio NNS cord-035342-sf0zld5z 698 19 . . . cord-035342-sf0zld5z 699 1 While while IN cord-035342-sf0zld5z 699 2 there there EX cord-035342-sf0zld5z 699 3 is be VBZ cord-035342-sf0zld5z 699 4 also also RB cord-035342-sf0zld5z 699 5 research research NN cord-035342-sf0zld5z 699 6 that that WDT cord-035342-sf0zld5z 699 7 focus focus VBP cord-035342-sf0zld5z 699 8 on on IN cord-035342-sf0zld5z 699 9 the the DT cord-035342-sf0zld5z 699 10 relationship relationship NN cord-035342-sf0zld5z 699 11 of of IN cord-035342-sf0zld5z 699 12 concentration concentration NN cord-035342-sf0zld5z 699 13 of of IN cord-035342-sf0zld5z 699 14 portfolios portfolio NNS cord-035342-sf0zld5z 699 15 and and CC cord-035342-sf0zld5z 699 16 performance performance NN cord-035342-sf0zld5z 699 17 , , , cord-035342-sf0zld5z 699 18 it -PRON- PRP cord-035342-sf0zld5z 699 19 has have VBZ cord-035342-sf0zld5z 699 20 to to TO cord-035342-sf0zld5z 699 21 be be VB cord-035342-sf0zld5z 699 22 clarified clarify VBN cord-035342-sf0zld5z 699 23 that that IN cord-035342-sf0zld5z 699 24 home home NN cord-035342-sf0zld5z 699 25 - - HYPH cord-035342-sf0zld5z 699 26 biased bias VBN cord-035342-sf0zld5z 699 27 portfolios portfolio NNS cord-035342-sf0zld5z 699 28 are be VBP cord-035342-sf0zld5z 699 29 concentrated concentrate VBN cord-035342-sf0zld5z 699 30 towards towards IN cord-035342-sf0zld5z 699 31 domestic domestic JJ cord-035342-sf0zld5z 699 32 stocks stock NNS cord-035342-sf0zld5z 699 33 . . . cord-035342-sf0zld5z 700 1 That that DT cord-035342-sf0zld5z 700 2 is be VBZ cord-035342-sf0zld5z 700 3 why why WRB cord-035342-sf0zld5z 700 4 both both DT cord-035342-sf0zld5z 700 5 research research NN cord-035342-sf0zld5z 700 6 types type NNS cord-035342-sf0zld5z 700 7 give give VBP cord-035342-sf0zld5z 700 8 a a DT cord-035342-sf0zld5z 700 9 hint hint NN cord-035342-sf0zld5z 700 10 about about IN cord-035342-sf0zld5z 700 11 the the DT cord-035342-sf0zld5z 700 12 performance performance NN cord-035342-sf0zld5z 700 13 of of IN cord-035342-sf0zld5z 700 14 home home NN cord-035342-sf0zld5z 700 15 - - HYPH cord-035342-sf0zld5z 700 16 and and CC cord-035342-sf0zld5z 700 17 local local JJ cord-035342-sf0zld5z 700 18 - - HYPH cord-035342-sf0zld5z 700 19 biased bias VBN cord-035342-sf0zld5z 700 20 portfolios portfolio NNS cord-035342-sf0zld5z 700 21 . . . cord-035342-sf0zld5z 701 1 There there EX cord-035342-sf0zld5z 701 2 is be VBZ cord-035342-sf0zld5z 701 3 evidence evidence NN cord-035342-sf0zld5z 701 4 of of IN cord-035342-sf0zld5z 701 5 both both CC cord-035342-sf0zld5z 701 6 better well JJR cord-035342-sf0zld5z 701 7 and and CC cord-035342-sf0zld5z 701 8 worse bad JJR cord-035342-sf0zld5z 701 9 performance performance NN cord-035342-sf0zld5z 701 10 of of IN cord-035342-sf0zld5z 701 11 biased biased JJ cord-035342-sf0zld5z 701 12 and and CC cord-035342-sf0zld5z 701 13 concentrated concentrated JJ cord-035342-sf0zld5z 701 14 portfolios portfolio NNS cord-035342-sf0zld5z 701 15 compared compare VBN cord-035342-sf0zld5z 701 16 to to IN cord-035342-sf0zld5z 701 17 well well RB cord-035342-sf0zld5z 701 18 - - HYPH cord-035342-sf0zld5z 701 19 diversified diversify VBN cord-035342-sf0zld5z 701 20 investment investment NN cord-035342-sf0zld5z 701 21 structures structure NNS cord-035342-sf0zld5z 701 22 . . . cord-035342-sf0zld5z 702 1 Especially especially RB cord-035342-sf0zld5z 702 2 if if IN cord-035342-sf0zld5z 702 3 information information NN cord-035342-sf0zld5z 702 4 - - HYPH cord-035342-sf0zld5z 702 5 related relate VBN cord-035342-sf0zld5z 702 6 causes cause NNS cord-035342-sf0zld5z 702 7 drive drive VBP cord-035342-sf0zld5z 702 8 the the DT cord-035342-sf0zld5z 702 9 portfolio portfolio NN cord-035342-sf0zld5z 702 10 bias bias NN cord-035342-sf0zld5z 702 11 , , , cord-035342-sf0zld5z 702 12 a a DT cord-035342-sf0zld5z 702 13 superior superior JJ cord-035342-sf0zld5z 702 14 performance performance NN cord-035342-sf0zld5z 702 15 can can MD cord-035342-sf0zld5z 702 16 be be VB cord-035342-sf0zld5z 702 17 observed observe VBN cord-035342-sf0zld5z 702 18 . . . cord-035342-sf0zld5z 703 1 Shukla Shukla NNP cord-035342-sf0zld5z 703 2 and and CC cord-035342-sf0zld5z 703 3 van van NNP cord-035342-sf0zld5z 703 4 Inwegen Inwegen NNP cord-035342-sf0zld5z 703 5 ( ( -LRB- cord-035342-sf0zld5z 703 6 1995 1995 CD cord-035342-sf0zld5z 703 7 ) ) -RRB- cord-035342-sf0zld5z 703 8 report report VBP cord-035342-sf0zld5z 703 9 that that IN cord-035342-sf0zld5z 703 10 domestic domestic JJ cord-035342-sf0zld5z 703 11 mutual mutual JJ cord-035342-sf0zld5z 703 12 fund fund NN cord-035342-sf0zld5z 703 13 investors investor NNS cord-035342-sf0zld5z 703 14 ( ( -LRB- cord-035342-sf0zld5z 703 15 from from IN cord-035342-sf0zld5z 703 16 the the DT cord-035342-sf0zld5z 703 17 U.S. U.S. NNP cord-035342-sf0zld5z 703 18 ) ) -RRB- cord-035342-sf0zld5z 703 19 perform perform VBP cord-035342-sf0zld5z 703 20 better well JJR cord-035342-sf0zld5z 703 21 than than IN cord-035342-sf0zld5z 703 22 foreign foreign JJ cord-035342-sf0zld5z 703 23 investors investor NNS cord-035342-sf0zld5z 703 24 ( ( -LRB- cord-035342-sf0zld5z 703 25 from from IN cord-035342-sf0zld5z 703 26 the the DT cord-035342-sf0zld5z 703 27 UK UK NNP cord-035342-sf0zld5z 703 28 ) ) -RRB- cord-035342-sf0zld5z 703 29 and and CC cord-035342-sf0zld5z 703 30 are be VBP cord-035342-sf0zld5z 703 31 able able JJ cord-035342-sf0zld5z 703 32 to to TO cord-035342-sf0zld5z 703 33 generate generate VB cord-035342-sf0zld5z 703 34 higher high JJR cord-035342-sf0zld5z 703 35 returns return NNS cord-035342-sf0zld5z 703 36 . . . cord-035342-sf0zld5z 704 1 For for IN cord-035342-sf0zld5z 704 2 the the DT cord-035342-sf0zld5z 704 3 German german JJ cord-035342-sf0zld5z 704 4 market market NN cord-035342-sf0zld5z 704 5 , , , cord-035342-sf0zld5z 704 6 Hau Hau NNP cord-035342-sf0zld5z 704 7 ( ( -LRB- cord-035342-sf0zld5z 704 8 2001 2001 CD cord-035342-sf0zld5z 704 9 ) ) -RRB- cord-035342-sf0zld5z 704 10 confirms confirm VBZ cord-035342-sf0zld5z 704 11 that that IN cord-035342-sf0zld5z 704 12 home home NN cord-035342-sf0zld5z 704 13 German german JJ cord-035342-sf0zld5z 704 14 traders trader NNS cord-035342-sf0zld5z 704 15 perform perform VBP cord-035342-sf0zld5z 704 16 better well JJR cord-035342-sf0zld5z 704 17 than than IN cord-035342-sf0zld5z 704 18 foreigners foreigner NNS cord-035342-sf0zld5z 704 19 due due JJ cord-035342-sf0zld5z 704 20 to to IN cord-035342-sf0zld5z 704 21 the the DT cord-035342-sf0zld5z 704 22 linguistics linguistics NNP cord-035342-sf0zld5z 704 23 barrier barrier NN cord-035342-sf0zld5z 704 24 ( ( -LRB- cord-035342-sf0zld5z 704 25 non non JJ cord-035342-sf0zld5z 704 26 - - JJ cord-035342-sf0zld5z 704 27 German german JJ cord-035342-sf0zld5z 704 28 speaking speaking NN cord-035342-sf0zld5z 704 29 countries country NNS cord-035342-sf0zld5z 704 30 ) ) -RRB- cord-035342-sf0zld5z 704 31 . . . cord-035342-sf0zld5z 705 1 For for IN cord-035342-sf0zld5z 705 2 high high JJ cord-035342-sf0zld5z 705 3 frequency frequency NN cord-035342-sf0zld5z 705 4 trading trading NN cord-035342-sf0zld5z 705 5 and and CC cord-035342-sf0zld5z 705 6 whether whether IN cord-035342-sf0zld5z 705 7 the the DT cord-035342-sf0zld5z 705 8 investor investor NN cord-035342-sf0zld5z 705 9 is be VBZ cord-035342-sf0zld5z 705 10 located locate VBN cord-035342-sf0zld5z 705 11 close close RB cord-035342-sf0zld5z 705 12 to to IN cord-035342-sf0zld5z 705 13 the the DT cord-035342-sf0zld5z 705 14 stocks stock NNS cord-035342-sf0zld5z 705 15 ' ' POS cord-035342-sf0zld5z 705 16 firms firm NNS cord-035342-sf0zld5z 705 17 headquarter headquarter VBP cord-035342-sf0zld5z 705 18 the the DT cord-035342-sf0zld5z 705 19 performance performance NN cord-035342-sf0zld5z 705 20 is be VBZ cord-035342-sf0zld5z 705 21 even even RB cord-035342-sf0zld5z 705 22 better well JJR cord-035342-sf0zld5z 705 23 ( ( -LRB- cord-035342-sf0zld5z 705 24 Hau Hau NNP cord-035342-sf0zld5z 705 25 2001 2001 CD cord-035342-sf0zld5z 705 26 ) ) -RRB- cord-035342-sf0zld5z 705 27 . . . cord-035342-sf0zld5z 706 1 In in IN cord-035342-sf0zld5z 706 2 the the DT cord-035342-sf0zld5z 706 3 Indonesian indonesian JJ cord-035342-sf0zld5z 706 4 market market NN cord-035342-sf0zld5z 706 5 , , , cord-035342-sf0zld5z 706 6 Dvorak Dvorak NNP cord-035342-sf0zld5z 706 7 ( ( -LRB- cord-035342-sf0zld5z 706 8 2005 2005 CD cord-035342-sf0zld5z 706 9 ) ) -RRB- cord-035342-sf0zld5z 706 10 suggests suggest VBZ cord-035342-sf0zld5z 706 11 that that IN cord-035342-sf0zld5z 706 12 local local JJ cord-035342-sf0zld5z 706 13 investors investor NNS cord-035342-sf0zld5z 706 14 from from IN cord-035342-sf0zld5z 706 15 Indonesia Indonesia NNP cord-035342-sf0zld5z 706 16 with with IN cord-035342-sf0zld5z 706 17 an an DT cord-035342-sf0zld5z 706 18 informational informational JJ cord-035342-sf0zld5z 706 19 advantage advantage NN cord-035342-sf0zld5z 706 20 generate generate VBP cord-035342-sf0zld5z 706 21 superior superior JJ cord-035342-sf0zld5z 706 22 returns return NNS cord-035342-sf0zld5z 706 23 compared compare VBN cord-035342-sf0zld5z 706 24 to to IN cord-035342-sf0zld5z 706 25 foreign foreign JJ cord-035342-sf0zld5z 706 26 investors investor NNS cord-035342-sf0zld5z 706 27 in in IN cord-035342-sf0zld5z 706 28 the the DT cord-035342-sf0zld5z 706 29 short short JJ cord-035342-sf0zld5z 706 30 - - HYPH cord-035342-sf0zld5z 706 31 and and CC cord-035342-sf0zld5z 706 32 medium medium JJ cord-035342-sf0zld5z 706 33 - - HYPH cord-035342-sf0zld5z 706 34 term term NN cord-035342-sf0zld5z 706 35 . . . cord-035342-sf0zld5z 707 1 Performance performance NN cord-035342-sf0zld5z 707 2 is be VBZ cord-035342-sf0zld5z 707 3 best good JJS cord-035342-sf0zld5z 707 4 when when WRB cord-035342-sf0zld5z 707 5 combining combine VBG cord-035342-sf0zld5z 707 6 local local JJ cord-035342-sf0zld5z 707 7 individuals individual NNS cord-035342-sf0zld5z 707 8 ' ' POS cord-035342-sf0zld5z 707 9 informational informational JJ cord-035342-sf0zld5z 707 10 advantage advantage NN cord-035342-sf0zld5z 707 11 with with IN cord-035342-sf0zld5z 707 12 the the DT cord-035342-sf0zld5z 707 13 expertise expertise NN cord-035342-sf0zld5z 707 14 and and CC cord-035342-sf0zld5z 707 15 experience experience NN cord-035342-sf0zld5z 707 16 of of IN cord-035342-sf0zld5z 707 17 global global JJ cord-035342-sf0zld5z 707 18 brokerages brokerage NNS cord-035342-sf0zld5z 707 19 . . . cord-035342-sf0zld5z 708 1 Especially especially RB cord-035342-sf0zld5z 708 2 in in IN cord-035342-sf0zld5z 708 3 the the DT cord-035342-sf0zld5z 708 4 short short JJ cord-035342-sf0zld5z 708 5 run run NN cord-035342-sf0zld5z 708 6 and and CC cord-035342-sf0zld5z 708 7 for for IN cord-035342-sf0zld5z 708 8 not not RB cord-035342-sf0zld5z 708 9 internationally internationally RB cord-035342-sf0zld5z 708 10 listed list VBN cord-035342-sf0zld5z 708 11 stocks stock NNS cord-035342-sf0zld5z 708 12 , , , cord-035342-sf0zld5z 708 13 domestic domestic JJ cord-035342-sf0zld5z 708 14 investors investor NNS cord-035342-sf0zld5z 708 15 outperform outperform VBP cord-035342-sf0zld5z 708 16 foreign foreign JJ cord-035342-sf0zld5z 708 17 investors investor NNS cord-035342-sf0zld5z 708 18 due due JJ cord-035342-sf0zld5z 708 19 to to IN cord-035342-sf0zld5z 708 20 informational informational JJ cord-035342-sf0zld5z 708 21 advantages advantage NNS cord-035342-sf0zld5z 708 22 regarding regard VBG cord-035342-sf0zld5z 708 23 the the DT cord-035342-sf0zld5z 708 24 Finnish finnish JJ cord-035342-sf0zld5z 708 25 market market NN cord-035342-sf0zld5z 708 26 ( ( -LRB- cord-035342-sf0zld5z 708 27 Kalev Kalev NNP cord-035342-sf0zld5z 708 28 et et NNP cord-035342-sf0zld5z 708 29 al al NNP cord-035342-sf0zld5z 708 30 . . NNP cord-035342-sf0zld5z 708 31 2008 2008 CD cord-035342-sf0zld5z 708 32 ) ) -RRB- cord-035342-sf0zld5z 708 33 . . . cord-035342-sf0zld5z 709 1 Massa Massa NNP cord-035342-sf0zld5z 709 2 and and CC cord-035342-sf0zld5z 709 3 Simonov Simonov NNP cord-035342-sf0zld5z 709 4 ( ( -LRB- cord-035342-sf0zld5z 709 5 2006 2006 CD cord-035342-sf0zld5z 709 6 ) ) -RRB- cord-035342-sf0zld5z 709 7 approve approve VB cord-035342-sf0zld5z 709 8 higher high JJR cord-035342-sf0zld5z 709 9 returns return NNS cord-035342-sf0zld5z 709 10 when when WRB cord-035342-sf0zld5z 709 11 holding hold VBG cord-035342-sf0zld5z 709 12 home home RB cord-035342-sf0zld5z 709 13 - - HYPH cord-035342-sf0zld5z 709 14 biased bias VBN cord-035342-sf0zld5z 709 15 portfolios portfolio NNS cord-035342-sf0zld5z 709 16 . . . cord-035342-sf0zld5z 710 1 For for IN cord-035342-sf0zld5z 710 2 real real JJ cord-035342-sf0zld5z 710 3 estate estate NN cord-035342-sf0zld5z 710 4 investments investment NNS cord-035342-sf0zld5z 710 5 as as RB cord-035342-sf0zld5z 710 6 well well RB cord-035342-sf0zld5z 710 7 , , , cord-035342-sf0zld5z 710 8 Eichholtz Eichholtz NNP cord-035342-sf0zld5z 710 9 et et NNP cord-035342-sf0zld5z 710 10 al al NNP cord-035342-sf0zld5z 710 11 . . . cord-035342-sf0zld5z 711 1 ( ( -LRB- cord-035342-sf0zld5z 711 2 2001 2001 CD cord-035342-sf0zld5z 711 3 ) ) -RRB- cord-035342-sf0zld5z 711 4 report report VB cord-035342-sf0zld5z 711 5 a a DT cord-035342-sf0zld5z 711 6 better well JJR cord-035342-sf0zld5z 711 7 performance performance NN cord-035342-sf0zld5z 711 8 when when WRB cord-035342-sf0zld5z 711 9 investing invest VBG cord-035342-sf0zld5z 711 10 in in IN cord-035342-sf0zld5z 711 11 real real JJ cord-035342-sf0zld5z 711 12 estate estate NN cord-035342-sf0zld5z 711 13 companies company NNS cord-035342-sf0zld5z 711 14 domestically domestically RB cord-035342-sf0zld5z 711 15 . . . cord-035342-sf0zld5z 712 1 In in IN cord-035342-sf0zld5z 712 2 markets market NNS cord-035342-sf0zld5z 712 3 with with IN cord-035342-sf0zld5z 712 4 given give VBN cord-035342-sf0zld5z 712 5 information information NN cord-035342-sf0zld5z 712 6 asymmetries asymmetry NNS cord-035342-sf0zld5z 712 7 , , , cord-035342-sf0zld5z 712 8 portfolio portfolio NN cord-035342-sf0zld5z 712 9 concentration concentration NN cord-035342-sf0zld5z 712 10 can can MD cord-035342-sf0zld5z 712 11 have have VB cord-035342-sf0zld5z 712 12 positive positive JJ cord-035342-sf0zld5z 712 13 results result NNS cord-035342-sf0zld5z 712 14 on on IN cord-035342-sf0zld5z 712 15 the the DT cord-035342-sf0zld5z 712 16 performance performance NN cord-035342-sf0zld5z 713 1 ( ( -LRB- cord-035342-sf0zld5z 713 2 Choi Choi NNP cord-035342-sf0zld5z 713 3 et et FW cord-035342-sf0zld5z 713 4 al al NNP cord-035342-sf0zld5z 713 5 . . . cord-035342-sf0zld5z 713 6 2017 2017 CD cord-035342-sf0zld5z 714 1 ; ; : cord-035342-sf0zld5z 714 2 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 714 3 et et NNP cord-035342-sf0zld5z 714 4 al al NNP cord-035342-sf0zld5z 714 5 . . NNP cord-035342-sf0zld5z 714 6 2008 2008 CD cord-035342-sf0zld5z 714 7 ) ) -RRB- cord-035342-sf0zld5z 714 8 , , , cord-035342-sf0zld5z 714 9 as as IN cord-035342-sf0zld5z 714 10 information information NN cord-035342-sf0zld5z 714 11 asymmetries asymmetry NNS cord-035342-sf0zld5z 714 12 lead lead VBP cord-035342-sf0zld5z 714 13 to to IN cord-035342-sf0zld5z 714 14 superior superior JJ cord-035342-sf0zld5z 714 15 knowledge knowledge NN cord-035342-sf0zld5z 714 16 about about IN cord-035342-sf0zld5z 714 17 investment investment NN cord-035342-sf0zld5z 714 18 opportunities opportunity NNS cord-035342-sf0zld5z 714 19 . . . cord-035342-sf0zld5z 715 1 Based base VBN cord-035342-sf0zld5z 715 2 on on IN cord-035342-sf0zld5z 715 3 a a DT cord-035342-sf0zld5z 715 4 model model NN cord-035342-sf0zld5z 715 5 with with IN cord-035342-sf0zld5z 715 6 delegated delegated JJ cord-035342-sf0zld5z 715 7 asset asset NN cord-035342-sf0zld5z 715 8 management management NN cord-035342-sf0zld5z 715 9 Dziuda Dziuda NNP cord-035342-sf0zld5z 715 10 and and CC cord-035342-sf0zld5z 715 11 Mondria Mondria NNP cord-035342-sf0zld5z 715 12 ( ( -LRB- cord-035342-sf0zld5z 715 13 2012 2012 CD cord-035342-sf0zld5z 715 14 ) ) -RRB- cord-035342-sf0zld5z 715 15 show show VBP cord-035342-sf0zld5z 715 16 that that IN cord-035342-sf0zld5z 715 17 fund fund NN cord-035342-sf0zld5z 715 18 managers manager NNS cord-035342-sf0zld5z 715 19 who who WP cord-035342-sf0zld5z 715 20 specialize specialize VBP cord-035342-sf0zld5z 715 21 in in IN cord-035342-sf0zld5z 715 22 the the DT cord-035342-sf0zld5z 715 23 domestic domestic JJ cord-035342-sf0zld5z 715 24 market market NN cord-035342-sf0zld5z 715 25 generate generate VBP cord-035342-sf0zld5z 715 26 higher high JJR cord-035342-sf0zld5z 715 27 returns return NNS cord-035342-sf0zld5z 715 28 . . . cord-035342-sf0zld5z 716 1 Thus thus RB cord-035342-sf0zld5z 716 2 , , , cord-035342-sf0zld5z 716 3 at at IN cord-035342-sf0zld5z 716 4 least least JJS cord-035342-sf0zld5z 716 5 to to IN cord-035342-sf0zld5z 716 6 some some DT cord-035342-sf0zld5z 716 7 extent extent NN cord-035342-sf0zld5z 716 8 home home NN cord-035342-sf0zld5z 716 9 bias bias NN cord-035342-sf0zld5z 716 10 seems seem VBZ cord-035342-sf0zld5z 716 11 to to TO cord-035342-sf0zld5z 716 12 be be VB cord-035342-sf0zld5z 716 13 a a DT cord-035342-sf0zld5z 716 14 rational rational JJ cord-035342-sf0zld5z 716 15 behaviour behaviour NN cord-035342-sf0zld5z 716 16 to to TO cord-035342-sf0zld5z 716 17 exploit exploit VB cord-035342-sf0zld5z 716 18 superior superior JJ cord-035342-sf0zld5z 716 19 knowledge knowledge NN cord-035342-sf0zld5z 716 20 . . . cord-035342-sf0zld5z 717 1 Conclusions conclusion NNS cord-035342-sf0zld5z 717 2 on on IN cord-035342-sf0zld5z 717 3 performance performance NN cord-035342-sf0zld5z 717 4 can can MD cord-035342-sf0zld5z 717 5 also also RB cord-035342-sf0zld5z 717 6 be be VB cord-035342-sf0zld5z 717 7 drawn draw VBN cord-035342-sf0zld5z 717 8 for for IN cord-035342-sf0zld5z 717 9 local local JJ cord-035342-sf0zld5z 717 10 bias bias NN cord-035342-sf0zld5z 717 11 by by IN cord-035342-sf0zld5z 717 12 comparing compare VBG cord-035342-sf0zld5z 717 13 the the DT cord-035342-sf0zld5z 717 14 performance performance NN cord-035342-sf0zld5z 717 15 of of IN cord-035342-sf0zld5z 717 16 intra intra JJ cord-035342-sf0zld5z 717 17 - - JJ cord-035342-sf0zld5z 717 18 national national JJ cord-035342-sf0zld5z 717 19 investors investor NNS cord-035342-sf0zld5z 717 20 with with IN cord-035342-sf0zld5z 717 21 each each DT cord-035342-sf0zld5z 717 22 other other JJ cord-035342-sf0zld5z 717 23 . . . cord-035342-sf0zld5z 718 1 Coval Coval NNP cord-035342-sf0zld5z 718 2 and and CC cord-035342-sf0zld5z 718 3 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 718 4 ( ( -LRB- cord-035342-sf0zld5z 718 5 2001 2001 CD cord-035342-sf0zld5z 718 6 ) ) -RRB- cord-035342-sf0zld5z 718 7 elaborate elaborate VBP cord-035342-sf0zld5z 718 8 a a DT cord-035342-sf0zld5z 718 9 better well JJR cord-035342-sf0zld5z 718 10 performance performance NN cord-035342-sf0zld5z 718 11 and and CC cord-035342-sf0zld5z 718 12 higher high JJR cord-035342-sf0zld5z 718 13 returns return NNS cord-035342-sf0zld5z 718 14 for for IN cord-035342-sf0zld5z 718 15 local local JJ cord-035342-sf0zld5z 718 16 - - HYPH cord-035342-sf0zld5z 718 17 biased biased JJ cord-035342-sf0zld5z 718 18 mutual mutual JJ cord-035342-sf0zld5z 718 19 funds fund NNS cord-035342-sf0zld5z 718 20 in in IN cord-035342-sf0zld5z 718 21 the the DT cord-035342-sf0zld5z 718 22 U.S. U.S. NNP cord-035342-sf0zld5z 718 23 market market NN cord-035342-sf0zld5z 718 24 compared compare VBN cord-035342-sf0zld5z 718 25 to to IN cord-035342-sf0zld5z 718 26 more more RBR cord-035342-sf0zld5z 718 27 diversified diversified JJ cord-035342-sf0zld5z 718 28 funds fund NNS cord-035342-sf0zld5z 718 29 ( ( -LRB- cord-035342-sf0zld5z 718 30 2.67 2.67 CD cord-035342-sf0zld5z 718 31 % % NN cord-035342-sf0zld5z 718 32 higher high JJR cord-035342-sf0zld5z 718 33 returns return NNS cord-035342-sf0zld5z 718 34 per per IN cord-035342-sf0zld5z 718 35 year year NN cord-035342-sf0zld5z 718 36 , , , cord-035342-sf0zld5z 718 37 with with IN cord-035342-sf0zld5z 718 38 100 100 CD cord-035342-sf0zld5z 718 39 km km NNS cord-035342-sf0zld5z 718 40 as as IN cord-035342-sf0zld5z 718 41 local local JJ cord-035342-sf0zld5z 718 42 ) ) -RRB- cord-035342-sf0zld5z 718 43 . . . cord-035342-sf0zld5z 719 1 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 719 2 and and CC cord-035342-sf0zld5z 719 3 Weisbenner Weisbenner NNP cord-035342-sf0zld5z 719 4 ( ( -LRB- cord-035342-sf0zld5z 719 5 2005 2005 CD cord-035342-sf0zld5z 719 6 ) ) -RRB- cord-035342-sf0zld5z 719 7 confirm confirm VB cord-035342-sf0zld5z 719 8 the the DT cord-035342-sf0zld5z 719 9 superior superior JJ cord-035342-sf0zld5z 719 10 performance performance NN cord-035342-sf0zld5z 719 11 of of IN cord-035342-sf0zld5z 719 12 local local JJ cord-035342-sf0zld5z 719 13 - - HYPH cord-035342-sf0zld5z 719 14 biased bias VBN cord-035342-sf0zld5z 719 15 individual individual JJ cord-035342-sf0zld5z 719 16 investors investor NNS cord-035342-sf0zld5z 719 17 . . . cord-035342-sf0zld5z 720 1 On on IN cord-035342-sf0zld5z 720 2 average average JJ cord-035342-sf0zld5z 720 3 local local JJ cord-035342-sf0zld5z 720 4 investments investment NNS cord-035342-sf0zld5z 720 5 earn earn VBP cord-035342-sf0zld5z 720 6 annually annually RB cord-035342-sf0zld5z 720 7 3.2 3.2 CD cord-035342-sf0zld5z 720 8 % % NN cord-035342-sf0zld5z 720 9 higher high JJR cord-035342-sf0zld5z 720 10 returns return NNS cord-035342-sf0zld5z 720 11 compared compare VBN cord-035342-sf0zld5z 720 12 to to IN cord-035342-sf0zld5z 720 13 non non JJ cord-035342-sf0zld5z 720 14 - - JJ cord-035342-sf0zld5z 720 15 local local JJ cord-035342-sf0zld5z 720 16 investments investment NNS cord-035342-sf0zld5z 720 17 . . . cord-035342-sf0zld5z 721 1 Thus thus RB cord-035342-sf0zld5z 721 2 , , , cord-035342-sf0zld5z 721 3 both both DT cord-035342-sf0zld5z 721 4 institutional institutional JJ cord-035342-sf0zld5z 721 5 / / SYM cord-035342-sf0zld5z 721 6 professional professional JJ cord-035342-sf0zld5z 721 7 investors investor NNS cord-035342-sf0zld5z 721 8 ( ( -LRB- cord-035342-sf0zld5z 721 9 fund fund NN cord-035342-sf0zld5z 721 10 managers manager NNS cord-035342-sf0zld5z 721 11 ) ) -RRB- cord-035342-sf0zld5z 721 12 and and CC cord-035342-sf0zld5z 721 13 individual individual JJ cord-035342-sf0zld5z 721 14 investors investor NNS cord-035342-sf0zld5z 721 15 ( ( -LRB- cord-035342-sf0zld5z 721 16 households household NNS cord-035342-sf0zld5z 721 17 ) ) -RRB- cord-035342-sf0zld5z 721 18 are be VBP cord-035342-sf0zld5z 721 19 able able JJ cord-035342-sf0zld5z 721 20 to to TO cord-035342-sf0zld5z 721 21 exploit exploit VB cord-035342-sf0zld5z 721 22 local local JJ cord-035342-sf0zld5z 721 23 information information NN cord-035342-sf0zld5z 721 24 for for IN cord-035342-sf0zld5z 721 25 performance performance NN cord-035342-sf0zld5z 721 26 improvement improvement NN cord-035342-sf0zld5z 721 27 ( ( -LRB- cord-035342-sf0zld5z 721 28 Coval Coval NNP cord-035342-sf0zld5z 721 29 and and CC cord-035342-sf0zld5z 721 30 Moskowitz Moskowitz NNP cord-035342-sf0zld5z 721 31 2001 2001 CD cord-035342-sf0zld5z 721 32 ; ; : cord-035342-sf0zld5z 721 33 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 721 34 and and CC cord-035342-sf0zld5z 721 35 Weisbenner Weisbenner NNP cord-035342-sf0zld5z 721 36 2005 2005 CD cord-035342-sf0zld5z 721 37 ) ) -RRB- cord-035342-sf0zld5z 721 38 . . . cord-035342-sf0zld5z 722 1 Baik Baik NNP cord-035342-sf0zld5z 722 2 et et NNP cord-035342-sf0zld5z 722 3 al al NNP cord-035342-sf0zld5z 722 4 . . . cord-035342-sf0zld5z 723 1 ( ( -LRB- cord-035342-sf0zld5z 723 2 2010 2010 CD cord-035342-sf0zld5z 723 3 ) ) -RRB- cord-035342-sf0zld5z 723 4 also also RB cord-035342-sf0zld5z 723 5 report report VBP cord-035342-sf0zld5z 723 6 higher high JJR cord-035342-sf0zld5z 723 7 returns return NNS cord-035342-sf0zld5z 723 8 of of IN cord-035342-sf0zld5z 723 9 local local JJ cord-035342-sf0zld5z 723 10 - - HYPH cord-035342-sf0zld5z 723 11 biased bias VBN cord-035342-sf0zld5z 723 12 investments investment NNS cord-035342-sf0zld5z 723 13 . . . cord-035342-sf0zld5z 724 1 Performance performance NN cord-035342-sf0zld5z 724 2 could could MD cord-035342-sf0zld5z 724 3 be be VB cord-035342-sf0zld5z 724 4 pushed push VBN cord-035342-sf0zld5z 724 5 even even RB cord-035342-sf0zld5z 724 6 higher higher RBR cord-035342-sf0zld5z 724 7 if if IN cord-035342-sf0zld5z 724 8 a a DT cord-035342-sf0zld5z 724 9 local local JJ cord-035342-sf0zld5z 724 10 focus focus NN cord-035342-sf0zld5z 724 11 was be VBD cord-035342-sf0zld5z 724 12 combined combine VBN cord-035342-sf0zld5z 724 13 with with IN cord-035342-sf0zld5z 724 14 diversification diversification NN cord-035342-sf0zld5z 724 15 in in IN cord-035342-sf0zld5z 724 16 this this DT cord-035342-sf0zld5z 724 17 certain certain JJ cord-035342-sf0zld5z 724 18 local local JJ cord-035342-sf0zld5z 724 19 area area NN cord-035342-sf0zld5z 724 20 ( ( -LRB- cord-035342-sf0zld5z 724 21 Bodnaruk Bodnaruk NNP cord-035342-sf0zld5z 724 22 2009 2009 CD cord-035342-sf0zld5z 724 23 ) ) -RRB- cord-035342-sf0zld5z 724 24 . . . cord-035342-sf0zld5z 725 1 This this DT cord-035342-sf0zld5z 725 2 result result NN cord-035342-sf0zld5z 725 3 is be VBZ cord-035342-sf0zld5z 725 4 in in IN cord-035342-sf0zld5z 725 5 conflict conflict NN cord-035342-sf0zld5z 725 6 with with IN cord-035342-sf0zld5z 725 7 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 725 8 et et NNP cord-035342-sf0zld5z 725 9 al al NNP cord-035342-sf0zld5z 725 10 . . . cord-035342-sf0zld5z 726 1 ( ( -LRB- cord-035342-sf0zld5z 726 2 2008 2008 CD cord-035342-sf0zld5z 726 3 ) ) -RRB- cord-035342-sf0zld5z 726 4 who who WP cord-035342-sf0zld5z 726 5 suppose suppose VBP cord-035342-sf0zld5z 726 6 that that IN cord-035342-sf0zld5z 726 7 it -PRON- PRP cord-035342-sf0zld5z 726 8 yields yield VBZ cord-035342-sf0zld5z 726 9 highest high JJS cord-035342-sf0zld5z 726 10 returns return NNS cord-035342-sf0zld5z 726 11 if if IN cord-035342-sf0zld5z 726 12 investors investor NNS cord-035342-sf0zld5z 726 13 invest invest VBP cord-035342-sf0zld5z 726 14 locally locally RB cord-035342-sf0zld5z 726 15 and and CC cord-035342-sf0zld5z 726 16 , , , cord-035342-sf0zld5z 726 17 on on IN cord-035342-sf0zld5z 726 18 top top NN cord-035342-sf0zld5z 726 19 , , , cord-035342-sf0zld5z 726 20 concentrate concentrate VB cord-035342-sf0zld5z 726 21 the the DT cord-035342-sf0zld5z 726 22 local local JJ cord-035342-sf0zld5z 726 23 investment investment NN cord-035342-sf0zld5z 726 24 on on IN cord-035342-sf0zld5z 726 25 very very RB cord-035342-sf0zld5z 726 26 few few JJ cord-035342-sf0zld5z 726 27 stocks stock NNS cord-035342-sf0zld5z 726 28 . . . cord-035342-sf0zld5z 727 1 The the DT cord-035342-sf0zld5z 727 2 puzzle puzzle NN cord-035342-sf0zld5z 727 3 can can MD cord-035342-sf0zld5z 727 4 be be VB cord-035342-sf0zld5z 727 5 resolved resolve VBN cord-035342-sf0zld5z 727 6 by by IN cord-035342-sf0zld5z 727 7 claiming claim VBG cord-035342-sf0zld5z 727 8 that that IN cord-035342-sf0zld5z 727 9 Bodnaruk Bodnaruk NNP cord-035342-sf0zld5z 727 10 ( ( -LRB- cord-035342-sf0zld5z 727 11 2009 2009 CD cord-035342-sf0zld5z 727 12 ) ) -RRB- cord-035342-sf0zld5z 727 13 assumes assume VBZ cord-035342-sf0zld5z 727 14 a a DT cord-035342-sf0zld5z 727 15 general general JJ cord-035342-sf0zld5z 727 16 information information NN cord-035342-sf0zld5z 727 17 advantage advantage NN cord-035342-sf0zld5z 727 18 of of IN cord-035342-sf0zld5z 727 19 local local JJ cord-035342-sf0zld5z 727 20 stocks stock NNS cord-035342-sf0zld5z 727 21 whereas whereas IN cord-035342-sf0zld5z 727 22 Ivkovic Ivkovic NNP cord-035342-sf0zld5z 727 23 et et NNP cord-035342-sf0zld5z 727 24 al al NNP cord-035342-sf0zld5z 727 25 . . . cord-035342-sf0zld5z 728 1 ( ( -LRB- cord-035342-sf0zld5z 728 2 2008 2008 CD cord-035342-sf0zld5z 728 3 ) ) -RRB- cord-035342-sf0zld5z 728 4 suppose suppose VB cord-035342-sf0zld5z 728 5 that that IN cord-035342-sf0zld5z 728 6 investors investor NNS cord-035342-sf0zld5z 728 7 should should MD cord-035342-sf0zld5z 728 8 specify specify VB cord-035342-sf0zld5z 728 9 on on IN cord-035342-sf0zld5z 728 10 the the DT cord-035342-sf0zld5z 728 11 few few JJ cord-035342-sf0zld5z 728 12 local local JJ cord-035342-sf0zld5z 728 13 assets asset NNS cord-035342-sf0zld5z 728 14 about about IN cord-035342-sf0zld5z 728 15 which which WDT cord-035342-sf0zld5z 728 16 the the DT cord-035342-sf0zld5z 728 17 superiority superiority NN cord-035342-sf0zld5z 728 18 of of IN cord-035342-sf0zld5z 728 19 information information NN cord-035342-sf0zld5z 728 20 is be VBZ cord-035342-sf0zld5z 728 21 highest high JJS cord-035342-sf0zld5z 728 22 . . . cord-035342-sf0zld5z 729 1 The the DT cord-035342-sf0zld5z 729 2 performance performance NN cord-035342-sf0zld5z 729 3 is be VBZ cord-035342-sf0zld5z 729 4 also also RB cord-035342-sf0zld5z 729 5 better well JJR cord-035342-sf0zld5z 729 6 for for IN cord-035342-sf0zld5z 729 7 local local JJ cord-035342-sf0zld5z 729 8 - - HYPH cord-035342-sf0zld5z 729 9 biased biased JJ cord-035342-sf0zld5z 729 10 venture venture NN cord-035342-sf0zld5z 729 11 capital capital NN cord-035342-sf0zld5z 729 12 investments investment NNS cord-035342-sf0zld5z 729 13 ( ( -LRB- cord-035342-sf0zld5z 729 14 Cumming Cumming NNP cord-035342-sf0zld5z 729 15 and and CC cord-035342-sf0zld5z 729 16 Dai Dai NNP cord-035342-sf0zld5z 729 17 2010 2010 CD cord-035342-sf0zld5z 729 18 ) ) -RRB- cord-035342-sf0zld5z 729 19 . . . cord-035342-sf0zld5z 730 1 During during IN cord-035342-sf0zld5z 730 2 uncertain uncertain JJ cord-035342-sf0zld5z 730 3 times time NNS cord-035342-sf0zld5z 730 4 and and CC cord-035342-sf0zld5z 730 5 a a DT cord-035342-sf0zld5z 730 6 high high JJ cord-035342-sf0zld5z 730 7 market market NN cord-035342-sf0zld5z 730 8 volatility volatility NN cord-035342-sf0zld5z 730 9 , , , cord-035342-sf0zld5z 730 10 exhibiting exhibit VBG cord-035342-sf0zld5z 730 11 local local JJ cord-035342-sf0zld5z 730 12 and and CC cord-035342-sf0zld5z 730 13 home home NN cord-035342-sf0zld5z 730 14 bias bias NN cord-035342-sf0zld5z 730 15 seems seem VBZ cord-035342-sf0zld5z 730 16 to to TO cord-035342-sf0zld5z 730 17 result result VB cord-035342-sf0zld5z 730 18 in in IN cord-035342-sf0zld5z 730 19 a a DT cord-035342-sf0zld5z 730 20 better well JJR cord-035342-sf0zld5z 730 21 performance performance NN cord-035342-sf0zld5z 730 22 compared compare VBN cord-035342-sf0zld5z 730 23 to to IN cord-035342-sf0zld5z 730 24 a a DT cord-035342-sf0zld5z 730 25 higher high JJR cord-035342-sf0zld5z 730 26 diversification diversification NN cord-035342-sf0zld5z 730 27 ( ( -LRB- cord-035342-sf0zld5z 730 28 Giannetti Giannetti NNP cord-035342-sf0zld5z 730 29 and and CC cord-035342-sf0zld5z 730 30 Laeven Laeven NNP cord-035342-sf0zld5z 730 31 2016 2016 CD cord-035342-sf0zld5z 730 32 ) ) -RRB- cord-035342-sf0zld5z 730 33 . . . cord-035342-sf0zld5z 731 1 These these DT cord-035342-sf0zld5z 731 2 findings finding NNS cord-035342-sf0zld5z 731 3 suggest suggest VBP cord-035342-sf0zld5z 731 4 that that IN cord-035342-sf0zld5z 731 5 exhibiting exhibit VBG cord-035342-sf0zld5z 731 6 home home NN cord-035342-sf0zld5z 731 7 and and CC cord-035342-sf0zld5z 731 8 local local JJ cord-035342-sf0zld5z 731 9 bias bias NN cord-035342-sf0zld5z 731 10 is be VBZ cord-035342-sf0zld5z 731 11 not not RB cord-035342-sf0zld5z 731 12 necessarily necessarily RB cord-035342-sf0zld5z 731 13 an an DT cord-035342-sf0zld5z 731 14 irrational irrational JJ cord-035342-sf0zld5z 731 15 behaviour behaviour NN cord-035342-sf0zld5z 731 16 as as IN cord-035342-sf0zld5z 731 17 the the DT cord-035342-sf0zld5z 731 18 returns return NNS cord-035342-sf0zld5z 731 19 of of IN cord-035342-sf0zld5z 731 20 biased biased JJ cord-035342-sf0zld5z 731 21 and and CC cord-035342-sf0zld5z 731 22 concentrated concentrated JJ cord-035342-sf0zld5z 731 23 portfolios portfolio NNS cord-035342-sf0zld5z 731 24 are be VBP cord-035342-sf0zld5z 731 25 often often RB cord-035342-sf0zld5z 731 26 higher high JJR cord-035342-sf0zld5z 731 27 . . . cord-035342-sf0zld5z 732 1 If if IN cord-035342-sf0zld5z 732 2 biased biased JJ cord-035342-sf0zld5z 732 3 portfolios portfolio NNS cord-035342-sf0zld5z 732 4 do do VBP cord-035342-sf0zld5z 732 5 not not RB cord-035342-sf0zld5z 732 6 perform perform VB cord-035342-sf0zld5z 732 7 better well JJR cord-035342-sf0zld5z 732 8 ( ( -LRB- cord-035342-sf0zld5z 732 9 or or CC cord-035342-sf0zld5z 732 10 even even RB cord-035342-sf0zld5z 732 11 worse bad JJR cord-035342-sf0zld5z 732 12 ) ) -RRB- cord-035342-sf0zld5z 732 13 than than IN cord-035342-sf0zld5z 732 14 more more RBR cord-035342-sf0zld5z 732 15 diversified diversified JJ cord-035342-sf0zld5z 732 16 portfolios portfolio NNS cord-035342-sf0zld5z 732 17 , , , cord-035342-sf0zld5z 732 18 local local JJ cord-035342-sf0zld5z 732 19 bias bias NN cord-035342-sf0zld5z 732 20 and and CC cord-035342-sf0zld5z 732 21 home home NN cord-035342-sf0zld5z 732 22 bias bias NN cord-035342-sf0zld5z 732 23 should should MD cord-035342-sf0zld5z 732 24 be be VB cord-035342-sf0zld5z 732 25 considered consider VBN cord-035342-sf0zld5z 732 26 as as IN cord-035342-sf0zld5z 732 27 critical critical JJ cord-035342-sf0zld5z 732 28 behavioural behavioural JJ cord-035342-sf0zld5z 732 29 patterns pattern NNS cord-035342-sf0zld5z 732 30 . . . cord-035342-sf0zld5z 733 1 Pool pool NN cord-035342-sf0zld5z 733 2 et et NNP cord-035342-sf0zld5z 733 3 al al NNP cord-035342-sf0zld5z 733 4 . . . cord-035342-sf0zld5z 734 1 ( ( -LRB- cord-035342-sf0zld5z 734 2 2012 2012 CD cord-035342-sf0zld5z 734 3 ) ) -RRB- cord-035342-sf0zld5z 734 4 claim claim VBP cord-035342-sf0zld5z 734 5 that that IN cord-035342-sf0zld5z 734 6 the the DT cord-035342-sf0zld5z 734 7 preference preference NN cord-035342-sf0zld5z 734 8 for for IN cord-035342-sf0zld5z 734 9 home home NN cord-035342-sf0zld5z 734 10 - - HYPH cord-035342-sf0zld5z 734 11 state state NN cord-035342-sf0zld5z 734 12 investments investment NNS cord-035342-sf0zld5z 734 13 of of IN cord-035342-sf0zld5z 734 14 professional professional JJ cord-035342-sf0zld5z 734 15 investors investor NNS cord-035342-sf0zld5z 734 16 in in IN cord-035342-sf0zld5z 734 17 the the DT cord-035342-sf0zld5z 734 18 U.S. U.S. NNP cord-035342-sf0zld5z 734 19 does do VBZ cord-035342-sf0zld5z 734 20 not not RB cord-035342-sf0zld5z 734 21 bring bring VB cord-035342-sf0zld5z 734 22 higher high JJR cord-035342-sf0zld5z 734 23 returns return NNS cord-035342-sf0zld5z 734 24 , , , cord-035342-sf0zld5z 734 25 especially especially RB cord-035342-sf0zld5z 734 26 compared compare VBN cord-035342-sf0zld5z 734 27 to to IN cord-035342-sf0zld5z 734 28 local local JJ cord-035342-sf0zld5z 734 29 investments investment NNS cord-035342-sf0zld5z 734 30 , , , cord-035342-sf0zld5z 734 31 even even RB cord-035342-sf0zld5z 734 32 though though IN cord-035342-sf0zld5z 734 33 local local JJ cord-035342-sf0zld5z 734 34 ( ( -LRB- cord-035342-sf0zld5z 734 35 geographically geographically RB cord-035342-sf0zld5z 734 36 ) ) -RRB- cord-035342-sf0zld5z 734 37 investments investment NNS cord-035342-sf0zld5z 734 38 perform perform VBP cord-035342-sf0zld5z 734 39 better well RBR cord-035342-sf0zld5z 734 40 . . . cord-035342-sf0zld5z 735 1 Loyalty loyalty NN cord-035342-sf0zld5z 735 2 - - HYPH cord-035342-sf0zld5z 735 3 based base VBN cord-035342-sf0zld5z 735 4 home home NN cord-035342-sf0zld5z 735 5 bias bias NN cord-035342-sf0zld5z 735 6 in in IN cord-035342-sf0zld5z 735 7 portfolio portfolio NN cord-035342-sf0zld5z 735 8 choice choice NN cord-035342-sf0zld5z 735 9 of of IN cord-035342-sf0zld5z 735 10 retirement retirement NN cord-035342-sf0zld5z 735 11 plans plan NNS cord-035342-sf0zld5z 735 12 of of IN cord-035342-sf0zld5z 735 13 individual individual JJ cord-035342-sf0zld5z 735 14 U.S. U.S. NNP cord-035342-sf0zld5z 735 15 investors investor NNS cord-035342-sf0zld5z 735 16 makes make VBZ cord-035342-sf0zld5z 735 17 up up RP cord-035342-sf0zld5z 735 18 about about RB cord-035342-sf0zld5z 735 19 20 20 CD cord-035342-sf0zld5z 735 20 % % NN cord-035342-sf0zld5z 735 21 loss loss NN cord-035342-sf0zld5z 735 22 in in IN cord-035342-sf0zld5z 735 23 retirement retirement NN cord-035342-sf0zld5z 735 24 income income NN cord-035342-sf0zld5z 735 25 ( ( -LRB- cord-035342-sf0zld5z 735 26 Cohen Cohen NNP cord-035342-sf0zld5z 735 27 2009 2009 CD cord-035342-sf0zld5z 735 28 ) ) -RRB- cord-035342-sf0zld5z 735 29 . . . cord-035342-sf0zld5z 736 1 For for IN cord-035342-sf0zld5z 736 2 local local JJ cord-035342-sf0zld5z 736 3 bias bias NN cord-035342-sf0zld5z 736 4 , , , cord-035342-sf0zld5z 736 5 Seasholes Seasholes NNP cord-035342-sf0zld5z 736 6 and and CC cord-035342-sf0zld5z 736 7 Zhu Zhu NNP cord-035342-sf0zld5z 736 8 ( ( -LRB- cord-035342-sf0zld5z 736 9 2010 2010 CD cord-035342-sf0zld5z 736 10 ) ) -RRB- cord-035342-sf0zld5z 736 11 document document NN cord-035342-sf0zld5z 736 12 that that WDT cord-035342-sf0zld5z 736 13 biased bias VBD cord-035342-sf0zld5z 736 14 ' ' '' cord-035342-sf0zld5z 736 15 holding hold VBG cord-035342-sf0zld5z 736 16 portfolios portfolio NNS cord-035342-sf0zld5z 736 17 ' ' POS cord-035342-sf0zld5z 736 18 of of IN cord-035342-sf0zld5z 736 19 individual individual JJ cord-035342-sf0zld5z 736 20 investors investor NNS cord-035342-sf0zld5z 736 21 do do VBP cord-035342-sf0zld5z 736 22 not not RB cord-035342-sf0zld5z 736 23 obtain obtain VB cord-035342-sf0zld5z 736 24 excess excess JJ cord-035342-sf0zld5z 736 25 returns return NNS cord-035342-sf0zld5z 736 26 . . . cord-035342-sf0zld5z 737 1 When when WRB cord-035342-sf0zld5z 737 2 considering consider VBG cord-035342-sf0zld5z 737 3 the the DT cord-035342-sf0zld5z 737 4 transaction transaction NN cord-035342-sf0zld5z 737 5 - - HYPH cord-035342-sf0zld5z 737 6 based base VBN cord-035342-sf0zld5z 737 7 local local JJ cord-035342-sf0zld5z 737 8 - - HYPH cord-035342-sf0zld5z 737 9 biased bias VBN cord-035342-sf0zld5z 737 10 portfolios portfolio NNS cord-035342-sf0zld5z 737 11 the the DT cord-035342-sf0zld5z 737 12 purchase purchase NN cord-035342-sf0zld5z 737 13 of of IN cord-035342-sf0zld5z 737 14 stocks stock NNS cord-035342-sf0zld5z 737 15 even even RB cord-035342-sf0zld5z 737 16 underperforms underperform VBZ cord-035342-sf0zld5z 737 17 the the DT cord-035342-sf0zld5z 737 18 sale sale NN cord-035342-sf0zld5z 737 19 . . . cord-035342-sf0zld5z 738 1 Huberman Huberman NNP cord-035342-sf0zld5z 738 2 ( ( -LRB- cord-035342-sf0zld5z 738 3 2001 2001 CD cord-035342-sf0zld5z 738 4 ) ) -RRB- cord-035342-sf0zld5z 738 5 also also RB cord-035342-sf0zld5z 738 6 approves approve VBZ cord-035342-sf0zld5z 738 7 the the DT cord-035342-sf0zld5z 738 8 fact fact NN cord-035342-sf0zld5z 738 9 that that IN cord-035342-sf0zld5z 738 10 local local JJ cord-035342-sf0zld5z 738 11 bias bias NN cord-035342-sf0zld5z 738 12 is be VBZ cord-035342-sf0zld5z 738 13 not not RB cord-035342-sf0zld5z 738 14 a a DT cord-035342-sf0zld5z 738 15 smart smart JJ cord-035342-sf0zld5z 738 16 behaviour behaviour NN cord-035342-sf0zld5z 738 17 due due IN cord-035342-sf0zld5z 738 18 to to IN cord-035342-sf0zld5z 738 19 the the DT cord-035342-sf0zld5z 738 20 lack lack NN cord-035342-sf0zld5z 738 21 of of IN cord-035342-sf0zld5z 738 22 return return NN cord-035342-sf0zld5z 738 23 improvements improvement NNS cord-035342-sf0zld5z 738 24 . . . cord-035342-sf0zld5z 739 1 Relating relate VBG cord-035342-sf0zld5z 739 2 to to IN cord-035342-sf0zld5z 739 3 the the DT cord-035342-sf0zld5z 739 4 performance performance NN cord-035342-sf0zld5z 739 5 of of IN cord-035342-sf0zld5z 739 6 home home NN cord-035342-sf0zld5z 739 7 - - HYPH cord-035342-sf0zld5z 739 8 biased bias VBN cord-035342-sf0zld5z 739 9 portfolios portfolio NNS cord-035342-sf0zld5z 739 10 , , , cord-035342-sf0zld5z 739 11 Grinblatt Grinblatt NNP cord-035342-sf0zld5z 739 12 ( ( -LRB- cord-035342-sf0zld5z 739 13 2000 2000 CD cord-035342-sf0zld5z 739 14 ) ) -RRB- cord-035342-sf0zld5z 739 15 examines examine VBZ cord-035342-sf0zld5z 739 16 investments investment NNS cord-035342-sf0zld5z 739 17 in in IN cord-035342-sf0zld5z 739 18 Finland Finland NNP cord-035342-sf0zld5z 739 19 , , , cord-035342-sf0zld5z 739 20 distinguishes distinguish VBZ cord-035342-sf0zld5z 739 21 sophisticated sophisticated JJ cord-035342-sf0zld5z 739 22 investors investor NNS cord-035342-sf0zld5z 739 23 from from IN cord-035342-sf0zld5z 739 24 unsophisticated unsophisticated JJ cord-035342-sf0zld5z 739 25 investors investor NNS cord-035342-sf0zld5z 739 26 and and CC cord-035342-sf0zld5z 739 27 shows show VBZ cord-035342-sf0zld5z 739 28 that that IN cord-035342-sf0zld5z 739 29 foreign foreign JJ cord-035342-sf0zld5z 739 30 investors investor NNS cord-035342-sf0zld5z 739 31 perform perform VBP cord-035342-sf0zld5z 739 32 better well RBR cord-035342-sf0zld5z 739 33 than than IN cord-035342-sf0zld5z 739 34 any any DT cord-035342-sf0zld5z 739 35 domestic domestic JJ cord-035342-sf0zld5z 739 36 investors investor NNS cord-035342-sf0zld5z 739 37 . . . cord-035342-sf0zld5z 740 1 Morse Morse NNP cord-035342-sf0zld5z 740 2 and and CC cord-035342-sf0zld5z 740 3 Shive Shive NNP cord-035342-sf0zld5z 740 4 ( ( -LRB- cord-035342-sf0zld5z 740 5 2011 2011 CD cord-035342-sf0zld5z 740 6 ) ) -RRB- cord-035342-sf0zld5z 740 7 support support VBP cord-035342-sf0zld5z 740 8 the the DT cord-035342-sf0zld5z 740 9 worse bad JJR cord-035342-sf0zld5z 740 10 performance performance NN cord-035342-sf0zld5z 740 11 theory theory NN cord-035342-sf0zld5z 740 12 . . . cord-035342-sf0zld5z 741 1 Bailey Bailey NNP cord-035342-sf0zld5z 741 2 et et NNP cord-035342-sf0zld5z 741 3 al al NNP cord-035342-sf0zld5z 741 4 . . . cord-035342-sf0zld5z 742 1 ( ( -LRB- cord-035342-sf0zld5z 742 2 2007 2007 CD cord-035342-sf0zld5z 742 3 , , , cord-035342-sf0zld5z 742 4 p. p. NN cord-035342-sf0zld5z 742 5 1 1 CD cord-035342-sf0zld5z 742 6 ) ) -RRB- cord-035342-sf0zld5z 742 7 also also RB cord-035342-sf0zld5z 742 8 observe observe VBP cord-035342-sf0zld5z 742 9 a a DT cord-035342-sf0zld5z 742 10 better well JJR cord-035342-sf0zld5z 742 11 " " '' cord-035342-sf0zld5z 742 12 information information NN cord-035342-sf0zld5z 742 13 - - HYPH cord-035342-sf0zld5z 742 14 processing processing NN cord-035342-sf0zld5z 742 15 ability ability NN cord-035342-sf0zld5z 742 16 " " '' cord-035342-sf0zld5z 742 17 of of IN cord-035342-sf0zld5z 742 18 foreigners foreigner NNS cord-035342-sf0zld5z 742 19 compared compare VBN cord-035342-sf0zld5z 742 20 to to IN cord-035342-sf0zld5z 742 21 locals local NNS cord-035342-sf0zld5z 742 22 resulting result VBG cord-035342-sf0zld5z 742 23 in in IN cord-035342-sf0zld5z 742 24 a a DT cord-035342-sf0zld5z 742 25 better well JJR cord-035342-sf0zld5z 742 26 performance performance NN cord-035342-sf0zld5z 742 27 of of IN cord-035342-sf0zld5z 742 28 foreigners foreigner NNS cord-035342-sf0zld5z 742 29 . . . cord-035342-sf0zld5z 743 1 The the DT cord-035342-sf0zld5z 743 2 economic economic JJ cord-035342-sf0zld5z 743 3 home home NN cord-035342-sf0zld5z 743 4 bias bias NN cord-035342-sf0zld5z 743 5 ( ( -LRB- cord-035342-sf0zld5z 743 6 EHB ehb NN cord-035342-sf0zld5z 743 7 ) ) -RRB- cord-035342-sf0zld5z 743 8 by by IN cord-035342-sf0zld5z 743 9 Levy Levy NNP cord-035342-sf0zld5z 743 10 ( ( -LRB- cord-035342-sf0zld5z 743 11 2017 2017 CD cord-035342-sf0zld5z 743 12 ) ) -RRB- cord-035342-sf0zld5z 743 13 shows show VBZ cord-035342-sf0zld5z 743 14 explicitly explicitly RB cord-035342-sf0zld5z 743 15 the the DT cord-035342-sf0zld5z 743 16 economic economic JJ cord-035342-sf0zld5z 743 17 loss loss NN cord-035342-sf0zld5z 743 18 induced induce VBN cord-035342-sf0zld5z 743 19 by by IN cord-035342-sf0zld5z 743 20 home home NN cord-035342-sf0zld5z 743 21 bias bias NN cord-035342-sf0zld5z 743 22 and and CC cord-035342-sf0zld5z 743 23 is be VBZ cord-035342-sf0zld5z 743 24 dependent dependent JJ cord-035342-sf0zld5z 743 25 on on IN cord-035342-sf0zld5z 743 26 the the DT cord-035342-sf0zld5z 743 27 correlations correlation NNS cord-035342-sf0zld5z 743 28 of of IN cord-035342-sf0zld5z 743 29 the the DT cord-035342-sf0zld5z 743 30 different different JJ cord-035342-sf0zld5z 743 31 markets market NNS cord-035342-sf0zld5z 743 32 . . . cord-035342-sf0zld5z 744 1 If if IN cord-035342-sf0zld5z 744 2 markets market NNS cord-035342-sf0zld5z 744 3 are be VBP cord-035342-sf0zld5z 744 4 highly highly RB cord-035342-sf0zld5z 744 5 correlated correlate VBN cord-035342-sf0zld5z 744 6 , , , cord-035342-sf0zld5z 744 7 the the DT cord-035342-sf0zld5z 744 8 EHB ehb NN cord-035342-sf0zld5z 744 9 seems seem VBZ cord-035342-sf0zld5z 744 10 to to TO cord-035342-sf0zld5z 744 11 become become VB cord-035342-sf0zld5z 744 12 insignificant insignificant JJ cord-035342-sf0zld5z 744 13 . . . cord-035342-sf0zld5z 745 1 When when WRB cord-035342-sf0zld5z 745 2 neutralizing neutralize VBG cord-035342-sf0zld5z 745 3 the the DT cord-035342-sf0zld5z 745 4 means mean NNS cord-035342-sf0zld5z 745 5 and and CC cord-035342-sf0zld5z 745 6 variances variance NNS cord-035342-sf0zld5z 745 7 in in IN cord-035342-sf0zld5z 745 8 their -PRON- PRP$ cord-035342-sf0zld5z 745 9 calculations calculation NNS cord-035342-sf0zld5z 745 10 , , , cord-035342-sf0zld5z 745 11 the the DT cord-035342-sf0zld5z 745 12 EHB ehb NN cord-035342-sf0zld5z 745 13 is be VBZ cord-035342-sf0zld5z 745 14 significant significant JJ cord-035342-sf0zld5z 745 15 for for IN cord-035342-sf0zld5z 745 16 the the DT cord-035342-sf0zld5z 745 17 U.S. U.S. NNP cord-035342-sf0zld5z 745 18 and and CC cord-035342-sf0zld5z 745 19 France France NNP cord-035342-sf0zld5z 745 20 , , , cord-035342-sf0zld5z 745 21 concluding conclude VBG cord-035342-sf0zld5z 745 22 that that IN cord-035342-sf0zld5z 745 23 the the DT cord-035342-sf0zld5z 745 24 home home NN cord-035342-sf0zld5z 745 25 bias bias NN cord-035342-sf0zld5z 745 26 remains remain VBZ cord-035342-sf0zld5z 745 27 a a DT cord-035342-sf0zld5z 745 28 puzzle puzzle NN cord-035342-sf0zld5z 745 29 , , , cord-035342-sf0zld5z 745 30 because because IN cord-035342-sf0zld5z 745 31 there there EX cord-035342-sf0zld5z 745 32 are be VBP cord-035342-sf0zld5z 745 33 no no DT cord-035342-sf0zld5z 745 34 benefits benefit NNS cord-035342-sf0zld5z 745 35 from from IN cord-035342-sf0zld5z 745 36 biased biased JJ cord-035342-sf0zld5z 745 37 portfolios portfolio NNS cord-035342-sf0zld5z 745 38 , , , cord-035342-sf0zld5z 745 39 rather rather RB cord-035342-sf0zld5z 745 40 return return VB cord-035342-sf0zld5z 745 41 losses loss NNS cord-035342-sf0zld5z 745 42 ( ( -LRB- cord-035342-sf0zld5z 745 43 Levy levy NN cord-035342-sf0zld5z 745 44 2017 2017 CD cord-035342-sf0zld5z 745 45 ) ) -RRB- cord-035342-sf0zld5z 745 46 . . . cord-035342-sf0zld5z 746 1 Overall overall RB cord-035342-sf0zld5z 746 2 , , , cord-035342-sf0zld5z 746 3 the the DT cord-035342-sf0zld5z 746 4 results result NNS cord-035342-sf0zld5z 746 5 on on IN cord-035342-sf0zld5z 746 6 performance performance NN cord-035342-sf0zld5z 746 7 implications implication NNS cord-035342-sf0zld5z 746 8 are be VBP cord-035342-sf0zld5z 746 9 analogue analogue JJ cord-035342-sf0zld5z 746 10 to to IN cord-035342-sf0zld5z 746 11 the the DT cord-035342-sf0zld5z 746 12 number number NN cord-035342-sf0zld5z 746 13 of of IN cord-035342-sf0zld5z 746 14 findings finding NNS cord-035342-sf0zld5z 746 15 on on IN cord-035342-sf0zld5z 746 16 the the DT cord-035342-sf0zld5z 746 17 particular particular JJ cord-035342-sf0zld5z 746 18 reasons reason NNS cord-035342-sf0zld5z 746 19 . . . cord-035342-sf0zld5z 747 1 The the DT cord-035342-sf0zld5z 747 2 major major JJ cord-035342-sf0zld5z 747 3 part part NN cord-035342-sf0zld5z 747 4 of of IN cord-035342-sf0zld5z 747 5 studied study VBN cord-035342-sf0zld5z 747 6 reasons reason NNS cord-035342-sf0zld5z 747 7 is be VBZ cord-035342-sf0zld5z 747 8 about about IN cord-035342-sf0zld5z 747 9 information information NN cord-035342-sf0zld5z 747 10 asymmetries asymmetry NNS cord-035342-sf0zld5z 747 11 . . . cord-035342-sf0zld5z 748 1 It -PRON- PRP cord-035342-sf0zld5z 748 2 seems seem VBZ cord-035342-sf0zld5z 748 3 that that IN cord-035342-sf0zld5z 748 4 the the DT cord-035342-sf0zld5z 748 5 reasons reason NNS cord-035342-sf0zld5z 748 6 that that WDT cord-035342-sf0zld5z 748 7 are be VBP cord-035342-sf0zld5z 748 8 assumed assume VBN cord-035342-sf0zld5z 748 9 for for IN cord-035342-sf0zld5z 748 10 local local JJ cord-035342-sf0zld5z 748 11 and and CC cord-035342-sf0zld5z 748 12 home home NN cord-035342-sf0zld5z 748 13 bias bias NN cord-035342-sf0zld5z 748 14 play play VBP cord-035342-sf0zld5z 748 15 a a DT cord-035342-sf0zld5z 748 16 crucial crucial JJ cord-035342-sf0zld5z 748 17 role role NN cord-035342-sf0zld5z 748 18 when when WRB cord-035342-sf0zld5z 748 19 determining determine VBG cord-035342-sf0zld5z 748 20 whether whether IN cord-035342-sf0zld5z 748 21 the the DT cord-035342-sf0zld5z 748 22 considered consider VBN cord-035342-sf0zld5z 748 23 biased biased JJ cord-035342-sf0zld5z 748 24 portfolio portfolio NN cord-035342-sf0zld5z 748 25 performs perform VBZ cord-035342-sf0zld5z 748 26 better well JJR cord-035342-sf0zld5z 748 27 or or CC cord-035342-sf0zld5z 748 28 worse bad JJR cord-035342-sf0zld5z 748 29 than than IN cord-035342-sf0zld5z 748 30 a a DT cord-035342-sf0zld5z 748 31 well well RB cord-035342-sf0zld5z 748 32 - - HYPH cord-035342-sf0zld5z 748 33 diversified diversify VBN cord-035342-sf0zld5z 748 34 portfolio portfolio NN cord-035342-sf0zld5z 748 35 . . . cord-035342-sf0zld5z 749 1 This this DT cord-035342-sf0zld5z 749 2 contributes contribute VBZ cord-035342-sf0zld5z 749 3 to to IN cord-035342-sf0zld5z 749 4 the the DT cord-035342-sf0zld5z 749 5 assumptions assumption NNS cord-035342-sf0zld5z 749 6 that that WDT cord-035342-sf0zld5z 749 7 it -PRON- PRP cord-035342-sf0zld5z 749 8 has have VBZ cord-035342-sf0zld5z 749 9 to to TO cord-035342-sf0zld5z 749 10 be be VB cord-035342-sf0zld5z 749 11 a a DT cord-035342-sf0zld5z 749 12 high high JJ cord-035342-sf0zld5z 749 13 - - HYPH cord-035342-sf0zld5z 749 14 level level NN cord-035342-sf0zld5z 749 15 informational informational JJ cord-035342-sf0zld5z 749 16 advantage advantage NN cord-035342-sf0zld5z 749 17 which which WDT cord-035342-sf0zld5z 749 18 make make VBP cord-035342-sf0zld5z 749 19 investors investor NNS cord-035342-sf0zld5z 749 20 bias bias VB cord-035342-sf0zld5z 749 21 their -PRON- PRP$ cord-035342-sf0zld5z 749 22 portfolio portfolio NN cord-035342-sf0zld5z 749 23 in in IN cord-035342-sf0zld5z 749 24 order order NN cord-035342-sf0zld5z 749 25 to to TO cord-035342-sf0zld5z 749 26 exploit exploit VB cord-035342-sf0zld5z 749 27 the the DT cord-035342-sf0zld5z 749 28 superior superior JJ cord-035342-sf0zld5z 749 29 knowledge knowledge NN cord-035342-sf0zld5z 749 30 and and CC cord-035342-sf0zld5z 749 31 to to TO cord-035342-sf0zld5z 749 32 obtain obtain VB cord-035342-sf0zld5z 749 33 higher high JJR cord-035342-sf0zld5z 749 34 returns return NNS cord-035342-sf0zld5z 749 35 . . . cord-035342-sf0zld5z 750 1 If if IN cord-035342-sf0zld5z 750 2 home home NN cord-035342-sf0zld5z 750 3 and and CC cord-035342-sf0zld5z 750 4 local local JJ cord-035342-sf0zld5z 750 5 bias bias NN cord-035342-sf0zld5z 750 6 are be VBP cord-035342-sf0zld5z 750 7 driven drive VBN cord-035342-sf0zld5z 750 8 by by IN cord-035342-sf0zld5z 750 9 informational informational JJ cord-035342-sf0zld5z 750 10 advantages advantage NNS cord-035342-sf0zld5z 750 11 the the DT cord-035342-sf0zld5z 750 12 results result NNS cord-035342-sf0zld5z 750 13 challenge challenge VBP cord-035342-sf0zld5z 750 14 the the DT cord-035342-sf0zld5z 750 15 idea idea NN cord-035342-sf0zld5z 750 16 of of IN cord-035342-sf0zld5z 750 17 efficient efficient JJ cord-035342-sf0zld5z 750 18 capital capital NN cord-035342-sf0zld5z 750 19 markets market NNS cord-035342-sf0zld5z 750 20 and and CC cord-035342-sf0zld5z 750 21 induce induce VB cord-035342-sf0zld5z 750 22 implications implication NNS cord-035342-sf0zld5z 750 23 on on IN cord-035342-sf0zld5z 750 24 the the DT cord-035342-sf0zld5z 750 25 macroeconomic macroeconomic JJ cord-035342-sf0zld5z 750 26 level level NN cord-035342-sf0zld5z 750 27 . . . cord-035342-sf0zld5z 751 1 Implications implication NNS cord-035342-sf0zld5z 751 2 at at IN cord-035342-sf0zld5z 751 3 portfolio portfolio NN cord-035342-sf0zld5z 751 4 and and CC cord-035342-sf0zld5z 751 5 individual individual JJ cord-035342-sf0zld5z 751 6 level level NN cord-035342-sf0zld5z 751 7 are be VBP cord-035342-sf0zld5z 751 8 resulting result VBG cord-035342-sf0zld5z 751 9 in in IN cord-035342-sf0zld5z 751 10 performance performance NN cord-035342-sf0zld5z 751 11 divergences divergence NNS cord-035342-sf0zld5z 751 12 . . . cord-035342-sf0zld5z 752 1 But but CC cord-035342-sf0zld5z 752 2 there there EX cord-035342-sf0zld5z 752 3 are be VBP cord-035342-sf0zld5z 752 4 also also RB cord-035342-sf0zld5z 752 5 implications implication NNS cord-035342-sf0zld5z 752 6 of of IN cord-035342-sf0zld5z 752 7 home home NN cord-035342-sf0zld5z 752 8 and and CC cord-035342-sf0zld5z 752 9 local local JJ cord-035342-sf0zld5z 752 10 bias bias NN cord-035342-sf0zld5z 752 11 at at IN cord-035342-sf0zld5z 752 12 the the DT cord-035342-sf0zld5z 752 13 macroeconomic macroeconomic JJ cord-035342-sf0zld5z 752 14 level level NN cord-035342-sf0zld5z 752 15 , , , cord-035342-sf0zld5z 752 16 hence hence RB cord-035342-sf0zld5z 752 17 concerning concern VBG cord-035342-sf0zld5z 752 18 the the DT cord-035342-sf0zld5z 752 19 entire entire JJ cord-035342-sf0zld5z 752 20 economy economy NN cord-035342-sf0zld5z 752 21 . . . cord-035342-sf0zld5z 753 1 Home home NN cord-035342-sf0zld5z 753 2 bias bias NN cord-035342-sf0zld5z 753 3 seems seem VBZ cord-035342-sf0zld5z 753 4 to to TO cord-035342-sf0zld5z 753 5 have have VB cord-035342-sf0zld5z 753 6 direct direct JJ cord-035342-sf0zld5z 753 7 implications implication NNS cord-035342-sf0zld5z 753 8 on on IN cord-035342-sf0zld5z 753 9 the the DT cord-035342-sf0zld5z 753 10 cost cost NN cord-035342-sf0zld5z 753 11 of of IN cord-035342-sf0zld5z 753 12 capital capital NN cord-035342-sf0zld5z 753 13 in in IN cord-035342-sf0zld5z 753 14 the the DT cord-035342-sf0zld5z 753 15 considered consider VBN cord-035342-sf0zld5z 753 16 country country NN cord-035342-sf0zld5z 753 17 , , , cord-035342-sf0zld5z 753 18 because because IN cord-035342-sf0zld5z 753 19 home home NN cord-035342-sf0zld5z 753 20 bias bias NN cord-035342-sf0zld5z 753 21 leads lead VBZ cord-035342-sf0zld5z 753 22 to to IN cord-035342-sf0zld5z 753 23 an an DT cord-035342-sf0zld5z 753 24 inappropriate inappropriate JJ cord-035342-sf0zld5z 753 25 risk risk NN cord-035342-sf0zld5z 753 26 - - HYPH cord-035342-sf0zld5z 753 27 sharing sharing NN cord-035342-sf0zld5z 753 28 ( ( -LRB- cord-035342-sf0zld5z 753 29 Lau Lau NNP cord-035342-sf0zld5z 753 30 et et NNP cord-035342-sf0zld5z 753 31 al al NNP cord-035342-sf0zld5z 753 32 . . NNP cord-035342-sf0zld5z 753 33 2010 2010 CD cord-035342-sf0zld5z 753 34 ) ) -RRB- cord-035342-sf0zld5z 753 35 . . . cord-035342-sf0zld5z 754 1 The the DT cord-035342-sf0zld5z 754 2 degree degree NN cord-035342-sf0zld5z 754 3 of of IN cord-035342-sf0zld5z 754 4 home home NN cord-035342-sf0zld5z 754 5 bias bias NN cord-035342-sf0zld5z 754 6 and and CC cord-035342-sf0zld5z 754 7 the the DT cord-035342-sf0zld5z 754 8 cost cost NN cord-035342-sf0zld5z 754 9 of of IN cord-035342-sf0zld5z 754 10 capital capital NN cord-035342-sf0zld5z 754 11 have have VBP cord-035342-sf0zld5z 754 12 a a DT cord-035342-sf0zld5z 754 13 positive positive JJ cord-035342-sf0zld5z 754 14 correlation correlation NN cord-035342-sf0zld5z 754 15 . . . cord-035342-sf0zld5z 755 1 Besides besides RB cord-035342-sf0zld5z 755 2 , , , cord-035342-sf0zld5z 755 3 in in IN cord-035342-sf0zld5z 755 4 a a DT cord-035342-sf0zld5z 755 5 country country NN cord-035342-sf0zld5z 755 6 with with IN cord-035342-sf0zld5z 755 7 home home NN cord-035342-sf0zld5z 755 8 bias bias NN cord-035342-sf0zld5z 755 9 , , , cord-035342-sf0zld5z 755 10 the the DT cord-035342-sf0zld5z 755 11 trade trade NN cord-035342-sf0zld5z 755 12 balance balance NN cord-035342-sf0zld5z 755 13 is be VBZ cord-035342-sf0zld5z 755 14 more more RBR cord-035342-sf0zld5z 755 15 sensitive sensitive JJ cord-035342-sf0zld5z 755 16 to to IN cord-035342-sf0zld5z 755 17 economic economic JJ cord-035342-sf0zld5z 755 18 shocks shock NNS cord-035342-sf0zld5z 755 19 . . . cord-035342-sf0zld5z 756 1 10 10 CD cord-035342-sf0zld5z 756 2 Put put VB cord-035342-sf0zld5z 756 3 differently differently RB cord-035342-sf0zld5z 756 4 , , , cord-035342-sf0zld5z 756 5 if if IN cord-035342-sf0zld5z 756 6 investors investor NNS cord-035342-sf0zld5z 756 7 exhibit exhibit VBP cord-035342-sf0zld5z 756 8 little little JJ cord-035342-sf0zld5z 756 9 diversification diversification NN cord-035342-sf0zld5z 756 10 ( ( -LRB- cord-035342-sf0zld5z 756 11 low low JJ cord-035342-sf0zld5z 756 12 risk risk NN cord-035342-sf0zld5z 756 13 sharing share VBG cord-035342-sf0zld5z 756 14 ) ) -RRB- cord-035342-sf0zld5z 756 15 , , , cord-035342-sf0zld5z 756 16 new new JJ cord-035342-sf0zld5z 756 17 shocks shock NNS cord-035342-sf0zld5z 756 18 will will MD cord-035342-sf0zld5z 756 19 have have VB cord-035342-sf0zld5z 756 20 a a DT cord-035342-sf0zld5z 756 21 higher high JJR cord-035342-sf0zld5z 756 22 impact impact NN cord-035342-sf0zld5z 756 23 on on IN cord-035342-sf0zld5z 756 24 the the DT cord-035342-sf0zld5z 756 25 trade trade NN cord-035342-sf0zld5z 756 26 balance balance NN cord-035342-sf0zld5z 756 27 ( ( -LRB- cord-035342-sf0zld5z 756 28 Fratzscher Fratzscher NNP cord-035342-sf0zld5z 756 29 and and CC cord-035342-sf0zld5z 756 30 Straub Straub NNP cord-035342-sf0zld5z 756 31 2013 2013 CD cord-035342-sf0zld5z 756 32 ) ) -RRB- cord-035342-sf0zld5z 756 33 . . . cord-035342-sf0zld5z 757 1 For for IN cord-035342-sf0zld5z 757 2 Germany Germany NNP cord-035342-sf0zld5z 757 3 , , , cord-035342-sf0zld5z 757 4 Jacobs Jacobs NNP cord-035342-sf0zld5z 757 5 and and CC cord-035342-sf0zld5z 757 6 Weber Weber NNP cord-035342-sf0zld5z 757 7 ( ( -LRB- cord-035342-sf0zld5z 757 8 2012 2012 CD cord-035342-sf0zld5z 757 9 ) ) -RRB- cord-035342-sf0zld5z 757 10 observe observe VBP cord-035342-sf0zld5z 757 11 that that IN cord-035342-sf0zld5z 757 12 the the DT cord-035342-sf0zld5z 757 13 local local JJ cord-035342-sf0zld5z 757 14 bias bias NN cord-035342-sf0zld5z 757 15 also also RB cord-035342-sf0zld5z 757 16 impacts impact VBZ cord-035342-sf0zld5z 757 17 at at IN cord-035342-sf0zld5z 757 18 firm firm JJ cord-035342-sf0zld5z 757 19 level level NN cord-035342-sf0zld5z 757 20 . . . cord-035342-sf0zld5z 758 1 The the DT cord-035342-sf0zld5z 758 2 main main JJ cord-035342-sf0zld5z 758 3 finding finding NN cord-035342-sf0zld5z 758 4 is be VBZ cord-035342-sf0zld5z 758 5 that that IN cord-035342-sf0zld5z 758 6 stocks stock NNS cord-035342-sf0zld5z 758 7 of of IN cord-035342-sf0zld5z 758 8 firms firm NNS cord-035342-sf0zld5z 758 9 located locate VBN cord-035342-sf0zld5z 758 10 in in IN cord-035342-sf0zld5z 758 11 a a DT cord-035342-sf0zld5z 758 12 holiday holiday NN cord-035342-sf0zld5z 758 13 region region NN cord-035342-sf0zld5z 758 14 11 11 CD cord-035342-sf0zld5z 758 15 are be VBP cord-035342-sf0zld5z 758 16 traded trade VBN cord-035342-sf0zld5z 758 17 less less RBR cord-035342-sf0zld5z 758 18 on on IN cord-035342-sf0zld5z 758 19 the the DT cord-035342-sf0zld5z 758 20 particular particular JJ cord-035342-sf0zld5z 758 21 holiday holiday NN cord-035342-sf0zld5z 758 22 . . . cord-035342-sf0zld5z 759 1 Normally normally RB cord-035342-sf0zld5z 759 2 , , , cord-035342-sf0zld5z 759 3 locally locally RB cord-035342-sf0zld5z 759 4 biased biased JJ cord-035342-sf0zld5z 759 5 investors investor NNS cord-035342-sf0zld5z 759 6 would would MD cord-035342-sf0zld5z 759 7 trade trade VB cord-035342-sf0zld5z 759 8 the the DT cord-035342-sf0zld5z 759 9 stock stock NN cord-035342-sf0zld5z 759 10 but but CC cord-035342-sf0zld5z 759 11 , , , cord-035342-sf0zld5z 759 12 on on IN cord-035342-sf0zld5z 759 13 a a DT cord-035342-sf0zld5z 759 14 holiday holiday NN cord-035342-sf0zld5z 759 15 , , , cord-035342-sf0zld5z 759 16 these these DT cord-035342-sf0zld5z 759 17 local local JJ cord-035342-sf0zld5z 759 18 investors investor NNS cord-035342-sf0zld5z 759 19 show show VBP cord-035342-sf0zld5z 759 20 inattention inattention NN cord-035342-sf0zld5z 759 21 and and CC cord-035342-sf0zld5z 759 22 negligence negligence NN cord-035342-sf0zld5z 759 23 to to IN cord-035342-sf0zld5z 759 24 the the DT cord-035342-sf0zld5z 759 25 stock stock NN cord-035342-sf0zld5z 759 26 market market NN cord-035342-sf0zld5z 759 27 and and CC cord-035342-sf0zld5z 759 28 therefore therefore RB cord-035342-sf0zld5z 759 29 trade trade VBP cord-035342-sf0zld5z 759 30 less less JJR cord-035342-sf0zld5z 759 31 . . . cord-035342-sf0zld5z 760 1 The the DT cord-035342-sf0zld5z 760 2 reduction reduction NN cord-035342-sf0zld5z 760 3 in in IN cord-035342-sf0zld5z 760 4 trading trading NN cord-035342-sf0zld5z 760 5 at at IN cord-035342-sf0zld5z 760 6 aggregated aggregated JJ cord-035342-sf0zld5z 760 7 stock stock NN cord-035342-sf0zld5z 760 8 level level NN cord-035342-sf0zld5z 760 9 is be VBZ cord-035342-sf0zld5z 760 10 significant significant JJ cord-035342-sf0zld5z 760 11 and and CC cord-035342-sf0zld5z 760 12 observable observable JJ cord-035342-sf0zld5z 760 13 and and CC cord-035342-sf0zld5z 760 14 confirms confirm VBZ cord-035342-sf0zld5z 760 15 strong strong JJ cord-035342-sf0zld5z 760 16 local local JJ cord-035342-sf0zld5z 760 17 bias bias NN cord-035342-sf0zld5z 760 18 ( ( -LRB- cord-035342-sf0zld5z 760 19 Jacobs Jacobs NNP cord-035342-sf0zld5z 760 20 and and CC cord-035342-sf0zld5z 760 21 Weber Weber NNP cord-035342-sf0zld5z 760 22 2012 2012 CD cord-035342-sf0zld5z 760 23 ) ) -RRB- cord-035342-sf0zld5z 760 24 . . . cord-035342-sf0zld5z 761 1 Differences difference NNS cord-035342-sf0zld5z 761 2 in in IN cord-035342-sf0zld5z 761 3 information information NN cord-035342-sf0zld5z 761 4 release release NN cord-035342-sf0zld5z 761 5 are be VBP cord-035342-sf0zld5z 761 6 rejected reject VBN cord-035342-sf0zld5z 761 7 as as IN cord-035342-sf0zld5z 761 8 an an DT cord-035342-sf0zld5z 761 9 explanation explanation NN cord-035342-sf0zld5z 761 10 . . . cord-035342-sf0zld5z 762 1 An an DT cord-035342-sf0zld5z 762 2 influence influence NN cord-035342-sf0zld5z 762 3 of of IN cord-035342-sf0zld5z 762 4 home home NN cord-035342-sf0zld5z 762 5 or or CC cord-035342-sf0zld5z 762 6 local local JJ cord-035342-sf0zld5z 762 7 bias bias NN cord-035342-sf0zld5z 762 8 on on IN cord-035342-sf0zld5z 762 9 the the DT cord-035342-sf0zld5z 762 10 cost cost NN cord-035342-sf0zld5z 762 11 of of IN cord-035342-sf0zld5z 762 12 capital capital NN cord-035342-sf0zld5z 762 13 , , , cord-035342-sf0zld5z 762 14 trade trade NN cord-035342-sf0zld5z 762 15 balance balance NN cord-035342-sf0zld5z 762 16 sensitivity sensitivity NN cord-035342-sf0zld5z 762 17 and and CC cord-035342-sf0zld5z 762 18 stock stock NN cord-035342-sf0zld5z 762 19 turnover turnover NN cord-035342-sf0zld5z 762 20 rates rate NNS cord-035342-sf0zld5z 762 21 can can MD cord-035342-sf0zld5z 762 22 be be VB cord-035342-sf0zld5z 762 23 assumed assume VBN cord-035342-sf0zld5z 762 24 . . . cord-035342-sf0zld5z 763 1 However however RB cord-035342-sf0zld5z 763 2 , , , cord-035342-sf0zld5z 763 3 as as IN cord-035342-sf0zld5z 763 4 the the DT cord-035342-sf0zld5z 763 5 findings finding NNS cord-035342-sf0zld5z 763 6 are be VBP cord-035342-sf0zld5z 763 7 limited limit VBN cord-035342-sf0zld5z 763 8 to to IN cord-035342-sf0zld5z 763 9 just just RB cord-035342-sf0zld5z 763 10 a a DT cord-035342-sf0zld5z 763 11 few few JJ cord-035342-sf0zld5z 763 12 studies study NNS cord-035342-sf0zld5z 763 13 , , , cord-035342-sf0zld5z 763 14 the the DT cord-035342-sf0zld5z 763 15 macroeconomic macroeconomic JJ cord-035342-sf0zld5z 763 16 implications implication NNS cord-035342-sf0zld5z 763 17 of of IN cord-035342-sf0zld5z 763 18 home home NN cord-035342-sf0zld5z 763 19 and and CC cord-035342-sf0zld5z 763 20 local local JJ cord-035342-sf0zld5z 763 21 bias bias NN cord-035342-sf0zld5z 763 22 should should MD cord-035342-sf0zld5z 763 23 be be VB cord-035342-sf0zld5z 763 24 subject subject JJ cord-035342-sf0zld5z 763 25 to to IN cord-035342-sf0zld5z 763 26 future future JJ cord-035342-sf0zld5z 763 27 research research NN cord-035342-sf0zld5z 763 28 . . . cord-035342-sf0zld5z 764 1 This this DT cord-035342-sf0zld5z 764 2 review review NN cord-035342-sf0zld5z 764 3 summarizes summarize VBZ cord-035342-sf0zld5z 764 4 the the DT cord-035342-sf0zld5z 764 5 state state NN cord-035342-sf0zld5z 764 6 of of IN cord-035342-sf0zld5z 764 7 the the DT cord-035342-sf0zld5z 764 8 literature literature NN cord-035342-sf0zld5z 764 9 on on IN cord-035342-sf0zld5z 764 10 home home NN cord-035342-sf0zld5z 764 11 and and CC cord-035342-sf0zld5z 764 12 local local JJ cord-035342-sf0zld5z 764 13 bias bias NN cord-035342-sf0zld5z 764 14 . . . cord-035342-sf0zld5z 765 1 There there EX cord-035342-sf0zld5z 765 2 is be VBZ cord-035342-sf0zld5z 765 3 much much JJ cord-035342-sf0zld5z 765 4 empirical empirical JJ cord-035342-sf0zld5z 765 5 evidence evidence NN cord-035342-sf0zld5z 765 6 on on IN cord-035342-sf0zld5z 765 7 the the DT cord-035342-sf0zld5z 765 8 existence existence NN cord-035342-sf0zld5z 765 9 of of IN cord-035342-sf0zld5z 765 10 home home NN cord-035342-sf0zld5z 765 11 bias bias NN cord-035342-sf0zld5z 765 12 and and CC cord-035342-sf0zld5z 765 13 local local JJ cord-035342-sf0zld5z 765 14 bias bias NN cord-035342-sf0zld5z 765 15 . . . cord-035342-sf0zld5z 766 1 Investors investor NNS cord-035342-sf0zld5z 766 2 do do VBP cord-035342-sf0zld5z 766 3 not not RB cord-035342-sf0zld5z 766 4 diversify diversify VB cord-035342-sf0zld5z 766 5 according accord VBG cord-035342-sf0zld5z 766 6 to to IN cord-035342-sf0zld5z 766 7 standard standard JJ cord-035342-sf0zld5z 766 8 CAPM CAPM NNP cord-035342-sf0zld5z 766 9 . . . cord-035342-sf0zld5z 767 1 This this DT cord-035342-sf0zld5z 767 2 behaviour behaviour NN cord-035342-sf0zld5z 767 3 is be VBZ cord-035342-sf0zld5z 767 4 observed observe VBN cord-035342-sf0zld5z 767 5 for for IN cord-035342-sf0zld5z 767 6 many many JJ cord-035342-sf0zld5z 767 7 countries country NNS cord-035342-sf0zld5z 767 8 , , , cord-035342-sf0zld5z 767 9 various various JJ cord-035342-sf0zld5z 767 10 asset asset NN cord-035342-sf0zld5z 767 11 types type NNS cord-035342-sf0zld5z 767 12 and and CC cord-035342-sf0zld5z 767 13 both both DT cord-035342-sf0zld5z 767 14 individual individual JJ cord-035342-sf0zld5z 767 15 and and CC cord-035342-sf0zld5z 767 16 professional professional JJ cord-035342-sf0zld5z 767 17 investors investor NNS cord-035342-sf0zld5z 767 18 . . . cord-035342-sf0zld5z 768 1 However however RB cord-035342-sf0zld5z 768 2 , , , cord-035342-sf0zld5z 768 3 the the DT cord-035342-sf0zld5z 768 4 degree degree NN cord-035342-sf0zld5z 768 5 varies vary VBZ cord-035342-sf0zld5z 768 6 across across IN cord-035342-sf0zld5z 768 7 time time NN cord-035342-sf0zld5z 768 8 and and CC cord-035342-sf0zld5z 768 9 country country NN cord-035342-sf0zld5z 768 10 . . . cord-035342-sf0zld5z 769 1 The the DT cord-035342-sf0zld5z 769 2 degree degree NN cord-035342-sf0zld5z 769 3 has have VBZ cord-035342-sf0zld5z 769 4 been be VBN cord-035342-sf0zld5z 769 5 decreasing decrease VBG cord-035342-sf0zld5z 769 6 , , , cord-035342-sf0zld5z 769 7 mainly mainly RB cord-035342-sf0zld5z 769 8 due due JJ cord-035342-sf0zld5z 769 9 to to IN cord-035342-sf0zld5z 769 10 relaxing relaxing JJ cord-035342-sf0zld5z 769 11 capital capital NN cord-035342-sf0zld5z 769 12 controls control NNS cord-035342-sf0zld5z 769 13 and and CC cord-035342-sf0zld5z 769 14 by by IN cord-035342-sf0zld5z 769 15 eliminating eliminate VBG cord-035342-sf0zld5z 769 16 explicit explicit JJ cord-035342-sf0zld5z 769 17 barriers barrier NNS cord-035342-sf0zld5z 769 18 ( ( -LRB- cord-035342-sf0zld5z 769 19 transaction transaction NN cord-035342-sf0zld5z 769 20 costs cost NNS cord-035342-sf0zld5z 769 21 ) ) -RRB- cord-035342-sf0zld5z 769 22 to to IN cord-035342-sf0zld5z 769 23 foreign foreign JJ cord-035342-sf0zld5z 769 24 investments investment NNS cord-035342-sf0zld5z 769 25 . . . cord-035342-sf0zld5z 770 1 Though though RB cord-035342-sf0zld5z 770 2 , , , cord-035342-sf0zld5z 770 3 since since IN cord-035342-sf0zld5z 770 4 there there EX cord-035342-sf0zld5z 770 5 is be VBZ cord-035342-sf0zld5z 770 6 no no DT cord-035342-sf0zld5z 770 7 unified unified JJ cord-035342-sf0zld5z 770 8 approach approach NN cord-035342-sf0zld5z 770 9 of of IN cord-035342-sf0zld5z 770 10 how how WRB cord-035342-sf0zld5z 770 11 to to TO cord-035342-sf0zld5z 770 12 measure measure VB cord-035342-sf0zld5z 770 13 the the DT cord-035342-sf0zld5z 770 14 extent extent NN cord-035342-sf0zld5z 770 15 of of IN cord-035342-sf0zld5z 770 16 home home NN cord-035342-sf0zld5z 770 17 bias bias NN cord-035342-sf0zld5z 770 18 , , , cord-035342-sf0zld5z 770 19 the the DT cord-035342-sf0zld5z 770 20 results result NNS cord-035342-sf0zld5z 770 21 vary vary VBP cord-035342-sf0zld5z 770 22 notably notably RB cord-035342-sf0zld5z 770 23 , , , cord-035342-sf0zld5z 770 24 especially especially RB cord-035342-sf0zld5z 770 25 across across IN cord-035342-sf0zld5z 770 26 countries country NNS cord-035342-sf0zld5z 770 27 . . . cord-035342-sf0zld5z 771 1 No no DT cord-035342-sf0zld5z 771 2 final final JJ cord-035342-sf0zld5z 771 3 conclusion conclusion NN cord-035342-sf0zld5z 771 4 on on IN cord-035342-sf0zld5z 771 5 the the DT cord-035342-sf0zld5z 771 6 relation relation NN cord-035342-sf0zld5z 771 7 between between IN cord-035342-sf0zld5z 771 8 country country NN cord-035342-sf0zld5z 771 9 and and CC cord-035342-sf0zld5z 771 10 extent extent NN cord-035342-sf0zld5z 771 11 can can MD cord-035342-sf0zld5z 771 12 be be VB cord-035342-sf0zld5z 771 13 made make VBN cord-035342-sf0zld5z 771 14 . . . cord-035342-sf0zld5z 772 1 A a DT cord-035342-sf0zld5z 772 2 large large JJ cord-035342-sf0zld5z 772 3 part part NN cord-035342-sf0zld5z 772 4 of of IN cord-035342-sf0zld5z 772 5 the the DT cord-035342-sf0zld5z 772 6 existing exist VBG cord-035342-sf0zld5z 772 7 literature literature NN cord-035342-sf0zld5z 772 8 studies study NNS cord-035342-sf0zld5z 772 9 the the DT cord-035342-sf0zld5z 772 10 reasons reason NNS cord-035342-sf0zld5z 772 11 for for IN cord-035342-sf0zld5z 772 12 home home NN cord-035342-sf0zld5z 772 13 and and CC cord-035342-sf0zld5z 772 14 local local JJ cord-035342-sf0zld5z 772 15 bias bias NN cord-035342-sf0zld5z 772 16 . . . cord-035342-sf0zld5z 773 1 Home home NN cord-035342-sf0zld5z 773 2 and and CC cord-035342-sf0zld5z 773 3 local local JJ cord-035342-sf0zld5z 773 4 bias bias NN cord-035342-sf0zld5z 773 5 are be VBP cord-035342-sf0zld5z 773 6 generally generally RB cord-035342-sf0zld5z 773 7 considered consider VBN cord-035342-sf0zld5z 773 8 simultaneously simultaneously RB cord-035342-sf0zld5z 773 9 , , , cord-035342-sf0zld5z 773 10 because because IN cord-035342-sf0zld5z 773 11 the the DT cord-035342-sf0zld5z 773 12 reasons reason NNS cord-035342-sf0zld5z 773 13 do do VBP cord-035342-sf0zld5z 773 14 not not RB cord-035342-sf0zld5z 773 15 differentiate differentiate VB cord-035342-sf0zld5z 773 16 that that RB cord-035342-sf0zld5z 773 17 much much JJ cord-035342-sf0zld5z 773 18 . . . cord-035342-sf0zld5z 774 1 Unfortunately unfortunately RB cord-035342-sf0zld5z 774 2 , , , cord-035342-sf0zld5z 774 3 research research NN cord-035342-sf0zld5z 774 4 on on IN cord-035342-sf0zld5z 774 5 home home NN cord-035342-sf0zld5z 774 6 and and CC cord-035342-sf0zld5z 774 7 in in IN cord-035342-sf0zld5z 774 8 particular particular JJ cord-035342-sf0zld5z 774 9 local local JJ cord-035342-sf0zld5z 774 10 bias bias NN cord-035342-sf0zld5z 774 11 is be VBZ cord-035342-sf0zld5z 774 12 heavily heavily RB cord-035342-sf0zld5z 774 13 concentrated concentrate VBN cord-035342-sf0zld5z 774 14 on on IN cord-035342-sf0zld5z 774 15 U.S. U.S. NNP cord-035342-sf0zld5z 774 16 data datum NNS cord-035342-sf0zld5z 774 17 . . . cord-035342-sf0zld5z 775 1 The the DT cord-035342-sf0zld5z 775 2 reasons reason NNS cord-035342-sf0zld5z 775 3 can can MD cord-035342-sf0zld5z 775 4 be be VB cord-035342-sf0zld5z 775 5 divided divide VBN cord-035342-sf0zld5z 775 6 into into IN cord-035342-sf0zld5z 775 7 three three CD cord-035342-sf0zld5z 775 8 main main JJ cord-035342-sf0zld5z 775 9 categories category NNS cord-035342-sf0zld5z 775 10 : : : cord-035342-sf0zld5z 775 11 institutional institutional JJ cord-035342-sf0zld5z 775 12 reasons reason NNS cord-035342-sf0zld5z 775 13 , , , cord-035342-sf0zld5z 775 14 information information NN cord-035342-sf0zld5z 775 15 - - HYPH cord-035342-sf0zld5z 775 16 based base VBN cord-035342-sf0zld5z 775 17 reasons reason NNS cord-035342-sf0zld5z 775 18 and and CC cord-035342-sf0zld5z 775 19 behavioural behavioural JJ cord-035342-sf0zld5z 775 20 / / SYM cord-035342-sf0zld5z 775 21 individual individual JJ cord-035342-sf0zld5z 775 22 reasons reason NNS cord-035342-sf0zld5z 775 23 . . . cord-035342-sf0zld5z 776 1 All all DT cord-035342-sf0zld5z 776 2 three three CD cord-035342-sf0zld5z 776 3 categories category NNS cord-035342-sf0zld5z 776 4 offer offer VBP cord-035342-sf0zld5z 776 5 their -PRON- PRP$ cord-035342-sf0zld5z 776 6 parts part NNS cord-035342-sf0zld5z 776 7 to to TO cord-035342-sf0zld5z 776 8 explain explain VB cord-035342-sf0zld5z 776 9 the the DT cord-035342-sf0zld5z 776 10 extent extent NN cord-035342-sf0zld5z 776 11 of of IN cord-035342-sf0zld5z 776 12 the the DT cord-035342-sf0zld5z 776 13 bias bias NN cord-035342-sf0zld5z 776 14 . . . cord-035342-sf0zld5z 777 1 This this DT cord-035342-sf0zld5z 777 2 is be VBZ cord-035342-sf0zld5z 777 3 probably probably RB cord-035342-sf0zld5z 777 4 due due JJ cord-035342-sf0zld5z 777 5 to to IN cord-035342-sf0zld5z 777 6 various various JJ cord-035342-sf0zld5z 777 7 cross cross NN cord-035342-sf0zld5z 777 8 - - NNS cord-035342-sf0zld5z 777 9 dependencies dependency NNS cord-035342-sf0zld5z 777 10 in in IN cord-035342-sf0zld5z 777 11 economy economy NN cord-035342-sf0zld5z 777 12 and and CC cord-035342-sf0zld5z 777 13 also also RB cord-035342-sf0zld5z 777 14 amongst amongst IN cord-035342-sf0zld5z 777 15 the the DT cord-035342-sf0zld5z 777 16 identified identify VBN cord-035342-sf0zld5z 777 17 reasons reason NNS cord-035342-sf0zld5z 777 18 for for IN cord-035342-sf0zld5z 777 19 the the DT cord-035342-sf0zld5z 777 20 bias bias NN cord-035342-sf0zld5z 777 21 . . . cord-035342-sf0zld5z 778 1 In in IN cord-035342-sf0zld5z 778 2 order order NN cord-035342-sf0zld5z 778 3 to to TO cord-035342-sf0zld5z 778 4 understand understand VB cord-035342-sf0zld5z 778 5 whether whether IN cord-035342-sf0zld5z 778 6 home home NN cord-035342-sf0zld5z 778 7 and and CC cord-035342-sf0zld5z 778 8 local local JJ cord-035342-sf0zld5z 778 9 bias bias NN cord-035342-sf0zld5z 778 10 are be VBP cord-035342-sf0zld5z 778 11 smart smart JJ cord-035342-sf0zld5z 778 12 , , , cord-035342-sf0zld5z 778 13 rational rational JJ cord-035342-sf0zld5z 778 14 or or CC cord-035342-sf0zld5z 778 15 critical critical JJ cord-035342-sf0zld5z 778 16 behaviours behaviour NNS cord-035342-sf0zld5z 778 17 , , , cord-035342-sf0zld5z 778 18 the the DT cord-035342-sf0zld5z 778 19 performance performance NN cord-035342-sf0zld5z 778 20 implications implication NNS cord-035342-sf0zld5z 778 21 are be VBP cord-035342-sf0zld5z 778 22 reviewed review VBN cord-035342-sf0zld5z 778 23 . . . cord-035342-sf0zld5z 779 1 There there EX cord-035342-sf0zld5z 779 2 is be VBZ cord-035342-sf0zld5z 779 3 much much JJ cord-035342-sf0zld5z 779 4 evidence evidence NN cord-035342-sf0zld5z 779 5 of of IN cord-035342-sf0zld5z 779 6 a a DT cord-035342-sf0zld5z 779 7 better well JJR cord-035342-sf0zld5z 779 8 performance performance NN cord-035342-sf0zld5z 779 9 of of IN cord-035342-sf0zld5z 779 10 biased biased JJ cord-035342-sf0zld5z 779 11 portfolios portfolio NNS cord-035342-sf0zld5z 779 12 , , , cord-035342-sf0zld5z 779 13 in in IN cord-035342-sf0zld5z 779 14 particular particular JJ cord-035342-sf0zld5z 779 15 for for IN cord-035342-sf0zld5z 779 16 those those DT cord-035342-sf0zld5z 779 17 ( ( -LRB- cord-035342-sf0zld5z 779 18 articles article NNS cord-035342-sf0zld5z 779 19 ) ) -RRB- cord-035342-sf0zld5z 779 20 which which WDT cord-035342-sf0zld5z 779 21 also also RB cord-035342-sf0zld5z 779 22 show show VBP cord-035342-sf0zld5z 779 23 informational informational JJ cord-035342-sf0zld5z 779 24 advantages advantage NNS cord-035342-sf0zld5z 779 25 as as IN cord-035342-sf0zld5z 779 26 a a DT cord-035342-sf0zld5z 779 27 reason reason NN cord-035342-sf0zld5z 779 28 . . . cord-035342-sf0zld5z 780 1 However however RB cord-035342-sf0zld5z 780 2 , , , cord-035342-sf0zld5z 780 3 some some DT cord-035342-sf0zld5z 780 4 research research NN cord-035342-sf0zld5z 780 5 also also RB cord-035342-sf0zld5z 780 6 reports report VBZ cord-035342-sf0zld5z 780 7 that that IN cord-035342-sf0zld5z 780 8 foreigners foreigner NNS cord-035342-sf0zld5z 780 9 perform perform VBP cord-035342-sf0zld5z 780 10 better well RBR cord-035342-sf0zld5z 780 11 while while IN cord-035342-sf0zld5z 780 12 not not RB cord-035342-sf0zld5z 780 13 referring refer VBG cord-035342-sf0zld5z 780 14 to to IN cord-035342-sf0zld5z 780 15 information information NN cord-035342-sf0zld5z 780 16 asymmetries asymmetry NNS cord-035342-sf0zld5z 780 17 . . . cord-035342-sf0zld5z 781 1 Overall overall RB cord-035342-sf0zld5z 781 2 , , , cord-035342-sf0zld5z 781 3 this this DT cord-035342-sf0zld5z 781 4 mixed mixed JJ cord-035342-sf0zld5z 781 5 evidence evidence NN cord-035342-sf0zld5z 781 6 does do VBZ cord-035342-sf0zld5z 781 7 not not RB cord-035342-sf0zld5z 781 8 allow allow VB cord-035342-sf0zld5z 781 9 to to TO cord-035342-sf0zld5z 781 10 derive derive VB cord-035342-sf0zld5z 781 11 recommendations recommendation NNS cord-035342-sf0zld5z 781 12 for for IN cord-035342-sf0zld5z 781 13 financial financial JJ cord-035342-sf0zld5z 781 14 advisors advisor NNS cord-035342-sf0zld5z 781 15 to to TO cord-035342-sf0zld5z 781 16 actively actively RB cord-035342-sf0zld5z 781 17 push push VB cord-035342-sf0zld5z 781 18 clients client NNS cord-035342-sf0zld5z 781 19 to to IN cord-035342-sf0zld5z 781 20 more more RBR cord-035342-sf0zld5z 781 21 internationally internationally RB cord-035342-sf0zld5z 781 22 diversified diversify VBN cord-035342-sf0zld5z 781 23 portfolios portfolio NNS cord-035342-sf0zld5z 781 24 . . . cord-035342-sf0zld5z 782 1 The the DT cord-035342-sf0zld5z 782 2 review review NN cord-035342-sf0zld5z 782 3 gives give VBZ cord-035342-sf0zld5z 782 4 some some DT cord-035342-sf0zld5z 782 5 avenues avenue NNS cord-035342-sf0zld5z 782 6 to to IN cord-035342-sf0zld5z 782 7 future future JJ cord-035342-sf0zld5z 782 8 research research NN cord-035342-sf0zld5z 782 9 . . . cord-035342-sf0zld5z 783 1 Table table NN cord-035342-sf0zld5z 783 2 2 2 CD cord-035342-sf0zld5z 783 3 shows show VBZ cord-035342-sf0zld5z 783 4 an an DT cord-035342-sf0zld5z 783 5 overview overview NN cord-035342-sf0zld5z 783 6 and and CC cord-035342-sf0zld5z 783 7 summarizes summarize VBZ cord-035342-sf0zld5z 783 8 them -PRON- PRP cord-035342-sf0zld5z 783 9 . . . cord-035342-sf0zld5z 784 1 First first RB cord-035342-sf0zld5z 784 2 , , , cord-035342-sf0zld5z 784 3 home home NN cord-035342-sf0zld5z 784 4 bias bias NN cord-035342-sf0zld5z 784 5 seems seem VBZ cord-035342-sf0zld5z 784 6 to to TO cord-035342-sf0zld5z 784 7 be be VB cord-035342-sf0zld5z 784 8 declining decline VBG cord-035342-sf0zld5z 784 9 over over IN cord-035342-sf0zld5z 784 10 time time NN cord-035342-sf0zld5z 784 11 , , , cord-035342-sf0zld5z 784 12 but but CC cord-035342-sf0zld5z 784 13 the the DT cord-035342-sf0zld5z 784 14 decrease decrease NN cord-035342-sf0zld5z 784 15 has have VBZ cord-035342-sf0zld5z 784 16 not not RB cord-035342-sf0zld5z 784 17 been be VBN cord-035342-sf0zld5z 784 18 researched research VBN cord-035342-sf0zld5z 784 19 intensively intensively RB cord-035342-sf0zld5z 784 20 . . . cord-035342-sf0zld5z 785 1 The the DT cord-035342-sf0zld5z 785 2 variation variation NN cord-035342-sf0zld5z 785 3 in in IN cord-035342-sf0zld5z 785 4 the the DT cord-035342-sf0zld5z 785 5 degree degree NN cord-035342-sf0zld5z 785 6 during during IN cord-035342-sf0zld5z 785 7 a a DT cord-035342-sf0zld5z 785 8 course course NN cord-035342-sf0zld5z 785 9 of of IN cord-035342-sf0zld5z 785 10 time time NN cord-035342-sf0zld5z 785 11 and and CC cord-035342-sf0zld5z 785 12 in in IN cord-035342-sf0zld5z 785 13 various various JJ cord-035342-sf0zld5z 785 14 countries country NNS cord-035342-sf0zld5z 785 15 is be VBZ cord-035342-sf0zld5z 785 16 still still RB cord-035342-sf0zld5z 785 17 not not RB cord-035342-sf0zld5z 785 18 explained explain VBN cord-035342-sf0zld5z 785 19 convincingly convincingly RB cord-035342-sf0zld5z 785 20 and and CC cord-035342-sf0zld5z 785 21 should should MD cord-035342-sf0zld5z 785 22 be be VB cord-035342-sf0zld5z 785 23 examined examine VBN cord-035342-sf0zld5z 785 24 in in IN cord-035342-sf0zld5z 785 25 time time NN cord-035342-sf0zld5z 785 26 series series NNP cord-035342-sf0zld5z 785 27 studies study NNS cord-035342-sf0zld5z 785 28 . . . cord-035342-sf0zld5z 786 1 Additionally additionally RB cord-035342-sf0zld5z 786 2 , , , cord-035342-sf0zld5z 786 3 there there EX cord-035342-sf0zld5z 786 4 is be VBZ cord-035342-sf0zld5z 786 5 still still RB cord-035342-sf0zld5z 786 6 no no DT cord-035342-sf0zld5z 786 7 standardized standardized JJ cord-035342-sf0zld5z 786 8 and and CC cord-035342-sf0zld5z 786 9 integrated integrated JJ cord-035342-sf0zld5z 786 10 method method NN cord-035342-sf0zld5z 786 11 of of IN cord-035342-sf0zld5z 786 12 measuring measure VBG cord-035342-sf0zld5z 786 13 the the DT cord-035342-sf0zld5z 786 14 bias bias NN cord-035342-sf0zld5z 786 15 . . . cord-035342-sf0zld5z 787 1 On on IN cord-035342-sf0zld5z 787 2 top top NN cord-035342-sf0zld5z 787 3 of of IN cord-035342-sf0zld5z 787 4 that that DT cord-035342-sf0zld5z 787 5 , , , cord-035342-sf0zld5z 787 6 the the DT cord-035342-sf0zld5z 787 7 empirical empirical JJ cord-035342-sf0zld5z 787 8 research research NN cord-035342-sf0zld5z 787 9 should should MD cord-035342-sf0zld5z 787 10 be be VB cord-035342-sf0zld5z 787 11 more more RBR cord-035342-sf0zld5z 787 12 thoroughly thoroughly RB cord-035342-sf0zld5z 787 13 elaborated elaborate VBN cord-035342-sf0zld5z 787 14 for for IN cord-035342-sf0zld5z 787 15 countries country NNS cord-035342-sf0zld5z 787 16 beyond beyond IN cord-035342-sf0zld5z 787 17 the the DT cord-035342-sf0zld5z 787 18 U.S. U.S. NNP cord-035342-sf0zld5z 788 1 For for IN cord-035342-sf0zld5z 788 2 example example NN cord-035342-sf0zld5z 788 3 , , , cord-035342-sf0zld5z 788 4 could could MD cord-035342-sf0zld5z 788 5 future future VB cord-035342-sf0zld5z 788 6 studies study NNS cord-035342-sf0zld5z 788 7 select select VB cord-035342-sf0zld5z 788 8 certain certain JJ cord-035342-sf0zld5z 788 9 measurements measurement NNS cord-035342-sf0zld5z 788 10 of of IN cord-035342-sf0zld5z 788 11 home home NN cord-035342-sf0zld5z 788 12 bias bias NN cord-035342-sf0zld5z 788 13 and and CC cord-035342-sf0zld5z 788 14 elaborate elaborate VB cord-035342-sf0zld5z 788 15 the the DT cord-035342-sf0zld5z 788 16 development development NN cord-035342-sf0zld5z 788 17 over over IN cord-035342-sf0zld5z 788 18 time time NN cord-035342-sf0zld5z 788 19 , , , cord-035342-sf0zld5z 788 20 comparing compare VBG cord-035342-sf0zld5z 788 21 them -PRON- PRP cord-035342-sf0zld5z 788 22 with with IN cord-035342-sf0zld5z 788 23 the the DT cord-035342-sf0zld5z 788 24 U.S. U.S. NNP cord-035342-sf0zld5z 788 25 results result NNS cord-035342-sf0zld5z 788 26 . . . cord-035342-sf0zld5z 789 1 Second second RB cord-035342-sf0zld5z 789 2 , , , cord-035342-sf0zld5z 789 3 it -PRON- PRP cord-035342-sf0zld5z 789 4 should should MD cord-035342-sf0zld5z 789 5 be be VB cord-035342-sf0zld5z 789 6 studied study VBN cord-035342-sf0zld5z 789 7 whether whether IN cord-035342-sf0zld5z 789 8 ambiguity ambiguity NN cord-035342-sf0zld5z 789 9 aversion aversion NN cord-035342-sf0zld5z 789 10 causes cause VBZ cord-035342-sf0zld5z 789 11 or or CC cord-035342-sf0zld5z 789 12 has have VBZ cord-035342-sf0zld5z 789 13 implications implication NNS cord-035342-sf0zld5z 789 14 on on IN cord-035342-sf0zld5z 789 15 local local JJ cord-035342-sf0zld5z 789 16 bias bias NN cord-035342-sf0zld5z 789 17 , , , cord-035342-sf0zld5z 789 18 as as RB cord-035342-sf0zld5z 789 19 well well RB cord-035342-sf0zld5z 789 20 the the DT cord-035342-sf0zld5z 789 21 relationship relationship NN cord-035342-sf0zld5z 789 22 between between IN cord-035342-sf0zld5z 789 23 ambiguity ambiguity NN cord-035342-sf0zld5z 789 24 aversion aversion NN cord-035342-sf0zld5z 789 25 of of IN cord-035342-sf0zld5z 789 26 institutional institutional JJ cord-035342-sf0zld5z 789 27 investors investor NNS cord-035342-sf0zld5z 789 28 and and CC cord-035342-sf0zld5z 789 29 home home NN cord-035342-sf0zld5z 789 30 bias bias NN cord-035342-sf0zld5z 789 31 / / SYM cord-035342-sf0zld5z 789 32 local local JJ cord-035342-sf0zld5z 789 33 bias bias NN cord-035342-sf0zld5z 789 34 might may MD cord-035342-sf0zld5z 789 35 be be VB cord-035342-sf0zld5z 789 36 examined examine VBN cord-035342-sf0zld5z 789 37 . . . cord-035342-sf0zld5z 790 1 Third third RB cord-035342-sf0zld5z 790 2 , , , cord-035342-sf0zld5z 790 3 as as IN cord-035342-sf0zld5z 790 4 some some DT cord-035342-sf0zld5z 790 5 authors author NNS cord-035342-sf0zld5z 790 6 indicate indicate VBP cord-035342-sf0zld5z 790 7 that that IN cord-035342-sf0zld5z 790 8 financially financially RB cord-035342-sf0zld5z 790 9 literate literate JJ cord-035342-sf0zld5z 790 10 investors investor NNS cord-035342-sf0zld5z 790 11 show show VBP cord-035342-sf0zld5z 790 12 a a DT cord-035342-sf0zld5z 790 13 better well JJR cord-035342-sf0zld5z 790 14 diversification diversification NN cord-035342-sf0zld5z 790 15 in in IN cord-035342-sf0zld5z 790 16 their -PRON- PRP$ cord-035342-sf0zld5z 790 17 portfolios portfolio NNS cord-035342-sf0zld5z 790 18 financial financial JJ cord-035342-sf0zld5z 790 19 literacy literacy NN cord-035342-sf0zld5z 790 20 ( ( -LRB- cord-035342-sf0zld5z 790 21 in in IN cord-035342-sf0zld5z 790 22 combination combination NN cord-035342-sf0zld5z 790 23 to to IN cord-035342-sf0zld5z 790 24 the the DT cord-035342-sf0zld5z 790 25 probability probability NN cord-035342-sf0zld5z 790 26 of of IN cord-035342-sf0zld5z 790 27 advice advice NN cord-035342-sf0zld5z 790 28 seeking seeking NN cord-035342-sf0zld5z 790 29 ) ) -RRB- cord-035342-sf0zld5z 790 30 is be VBZ cord-035342-sf0zld5z 790 31 presumably presumably RB cord-035342-sf0zld5z 790 32 influencing influence VBG cord-035342-sf0zld5z 790 33 home home NN cord-035342-sf0zld5z 790 34 and and CC cord-035342-sf0zld5z 790 35 local local JJ cord-035342-sf0zld5z 790 36 bias bias NN cord-035342-sf0zld5z 790 37 as as RB cord-035342-sf0zld5z 790 38 well well RB cord-035342-sf0zld5z 790 39 . . . cord-035342-sf0zld5z 791 1 As as RB cord-035342-sf0zld5z 791 2 far far RB cord-035342-sf0zld5z 791 3 as as IN cord-035342-sf0zld5z 791 4 we -PRON- PRP cord-035342-sf0zld5z 791 5 are be VBP cord-035342-sf0zld5z 791 6 informed inform VBN cord-035342-sf0zld5z 791 7 , , , cord-035342-sf0zld5z 791 8 there there EX cord-035342-sf0zld5z 791 9 are be VBP cord-035342-sf0zld5z 791 10 no no DT cord-035342-sf0zld5z 791 11 studies study NNS cord-035342-sf0zld5z 791 12 examining examine VBG cord-035342-sf0zld5z 791 13 this this DT cord-035342-sf0zld5z 791 14 relationship relationship NN cord-035342-sf0zld5z 791 15 which which WDT cord-035342-sf0zld5z 791 16 seems seem VBZ cord-035342-sf0zld5z 791 17 to to TO cord-035342-sf0zld5z 791 18 be be VB cord-035342-sf0zld5z 791 19 a a DT cord-035342-sf0zld5z 791 20 promising promising JJ cord-035342-sf0zld5z 791 21 avenue avenue NN cord-035342-sf0zld5z 791 22 for for IN cord-035342-sf0zld5z 791 23 explaining explain VBG cord-035342-sf0zld5z 791 24 a a DT cord-035342-sf0zld5z 791 25 part part NN cord-035342-sf0zld5z 791 26 of of IN cord-035342-sf0zld5z 791 27 the the DT cord-035342-sf0zld5z 791 28 home home NN cord-035342-sf0zld5z 791 29 bias bias NN cord-035342-sf0zld5z 791 30 . . . cord-035342-sf0zld5z 792 1 Fourth fourth JJ cord-035342-sf0zld5z 792 2 , , , cord-035342-sf0zld5z 792 3 French French NNP cord-035342-sf0zld5z 792 4 ( ( -LRB- cord-035342-sf0zld5z 792 5 2008 2008 CD cord-035342-sf0zld5z 792 6 ) ) -RRB- cord-035342-sf0zld5z 792 7 points point VBZ cord-035342-sf0zld5z 792 8 out out RP cord-035342-sf0zld5z 792 9 the the DT cord-035342-sf0zld5z 792 10 influence influence NN cord-035342-sf0zld5z 792 11 of of IN cord-035342-sf0zld5z 792 12 the the DT cord-035342-sf0zld5z 792 13 digitalization digitalization NN cord-035342-sf0zld5z 792 14 and and CC cord-035342-sf0zld5z 792 15 technology technology NN cord-035342-sf0zld5z 792 16 progress progress NN cord-035342-sf0zld5z 792 17 on on IN cord-035342-sf0zld5z 792 18 trading trading NN cord-035342-sf0zld5z 792 19 costs cost NNS cord-035342-sf0zld5z 792 20 and and CC cord-035342-sf0zld5z 792 21 shows show VBZ cord-035342-sf0zld5z 792 22 that that IN cord-035342-sf0zld5z 792 23 an an DT cord-035342-sf0zld5z 792 24 overall overall JJ cord-035342-sf0zld5z 792 25 decrease decrease NN cord-035342-sf0zld5z 792 26 can can MD cord-035342-sf0zld5z 792 27 be be VB cord-035342-sf0zld5z 792 28 observed observe VBN cord-035342-sf0zld5z 792 29 . . . cord-035342-sf0zld5z 793 1 Therefore therefore RB cord-035342-sf0zld5z 793 2 , , , cord-035342-sf0zld5z 793 3 even even RB cord-035342-sf0zld5z 793 4 though though IN cord-035342-sf0zld5z 793 5 a a DT cord-035342-sf0zld5z 793 6 decrease decrease NN cord-035342-sf0zld5z 793 7 of of IN cord-035342-sf0zld5z 793 8 home home NN cord-035342-sf0zld5z 793 9 bias bias NN cord-035342-sf0zld5z 793 10 can can MD cord-035342-sf0zld5z 793 11 be be VB cord-035342-sf0zld5z 793 12 assumed assume VBN cord-035342-sf0zld5z 793 13 over over IN cord-035342-sf0zld5z 793 14 time time NN cord-035342-sf0zld5z 793 15 , , , cord-035342-sf0zld5z 793 16 the the DT cord-035342-sf0zld5z 793 17 influence influence NN cord-035342-sf0zld5z 793 18 of of IN cord-035342-sf0zld5z 793 19 recent recent JJ cord-035342-sf0zld5z 793 20 technology technology NN cord-035342-sf0zld5z 793 21 advancement advancement NN cord-035342-sf0zld5z 793 22 , , , cord-035342-sf0zld5z 793 23 as as IN cord-035342-sf0zld5z 793 24 for for IN cord-035342-sf0zld5z 793 25 example example NN cord-035342-sf0zld5z 793 26 algorithmic algorithmic JJ cord-035342-sf0zld5z 793 27 trading trading NN cord-035342-sf0zld5z 793 28 or or CC cord-035342-sf0zld5z 793 29 robo robo NNP cord-035342-sf0zld5z 793 30 advisors advisor NNS cord-035342-sf0zld5z 793 31 , , , cord-035342-sf0zld5z 793 32 on on IN cord-035342-sf0zld5z 793 33 asset asset NN cord-035342-sf0zld5z 793 34 allocation allocation NN cord-035342-sf0zld5z 793 35 should should MD cord-035342-sf0zld5z 793 36 be be VB cord-035342-sf0zld5z 793 37 studied study VBN cord-035342-sf0zld5z 793 38 more more RBR cord-035342-sf0zld5z 793 39 thoroughly thoroughly RB cord-035342-sf0zld5z 793 40 . . . cord-035342-sf0zld5z 794 1 Fifth fifth JJ cord-035342-sf0zld5z 794 2 , , , cord-035342-sf0zld5z 794 3 since since IN cord-035342-sf0zld5z 794 4 the the DT cord-035342-sf0zld5z 794 5 evidence evidence NN cord-035342-sf0zld5z 794 6 in in IN cord-035342-sf0zld5z 794 7 this this DT cord-035342-sf0zld5z 794 8 area area NN cord-035342-sf0zld5z 794 9 is be VBZ cord-035342-sf0zld5z 794 10 very very RB cord-035342-sf0zld5z 794 11 limited limited JJ cord-035342-sf0zld5z 794 12 , , , cord-035342-sf0zld5z 794 13 the the DT cord-035342-sf0zld5z 794 14 implications implication NNS cord-035342-sf0zld5z 794 15 of of IN cord-035342-sf0zld5z 794 16 home home NN cord-035342-sf0zld5z 794 17 bias bias NN cord-035342-sf0zld5z 794 18 and and CC cord-035342-sf0zld5z 794 19 local local JJ cord-035342-sf0zld5z 794 20 bias bias NN cord-035342-sf0zld5z 794 21 have have VBP cord-035342-sf0zld5z 794 22 to to TO cord-035342-sf0zld5z 794 23 be be VB cord-035342-sf0zld5z 794 24 subject subject JJ cord-035342-sf0zld5z 794 25 to to IN cord-035342-sf0zld5z 794 26 further further JJ cord-035342-sf0zld5z 794 27 research research NN cord-035342-sf0zld5z 794 28 , , , cord-035342-sf0zld5z 794 29 in in IN cord-035342-sf0zld5z 794 30 particular particular JJ cord-035342-sf0zld5z 794 31 using use VBG cord-035342-sf0zld5z 794 32 new new JJ cord-035342-sf0zld5z 794 33 and and CC cord-035342-sf0zld5z 794 34 broader broad JJR cord-035342-sf0zld5z 794 35 data datum NNS cord-035342-sf0zld5z 794 36 . . . cord-035342-sf0zld5z 795 1 The the DT cord-035342-sf0zld5z 795 2 findings finding NNS cord-035342-sf0zld5z 795 3 presented present VBN cord-035342-sf0zld5z 795 4 in in IN cord-035342-sf0zld5z 795 5 this this DT cord-035342-sf0zld5z 795 6 study study NN cord-035342-sf0zld5z 795 7 are be VBP cord-035342-sf0zld5z 795 8 not not RB cord-035342-sf0zld5z 795 9 based base VBN cord-035342-sf0zld5z 795 10 on on IN cord-035342-sf0zld5z 795 11 substantial substantial JJ cord-035342-sf0zld5z 795 12 numerous numerous JJ cord-035342-sf0zld5z 795 13 evidence evidence NN cord-035342-sf0zld5z 795 14 but but CC cord-035342-sf0zld5z 795 15 rather rather RB cord-035342-sf0zld5z 795 16 on on IN cord-035342-sf0zld5z 795 17 singular singular JJ cord-035342-sf0zld5z 795 18 studies study NNS cord-035342-sf0zld5z 795 19 . . . cord-035342-sf0zld5z 796 1 Apart apart RB cord-035342-sf0zld5z 796 2 from from IN cord-035342-sf0zld5z 796 3 the the DT cord-035342-sf0zld5z 796 4 limitations limitation NNS cord-035342-sf0zld5z 796 5 regarding regard VBG cord-035342-sf0zld5z 796 6 home home NN cord-035342-sf0zld5z 796 7 bias bias NN cord-035342-sf0zld5z 796 8 ' ' POS cord-035342-sf0zld5z 796 9 implications implication NNS cord-035342-sf0zld5z 796 10 , , , cord-035342-sf0zld5z 796 11 one one CD cord-035342-sf0zld5z 796 12 further further JJ cord-035342-sf0zld5z 796 13 limitation limitation NN cord-035342-sf0zld5z 796 14 of of IN cord-035342-sf0zld5z 796 15 the the DT cord-035342-sf0zld5z 796 16 review review NN cord-035342-sf0zld5z 796 17 is be VBZ cord-035342-sf0zld5z 796 18 incorporating incorporate VBG cord-035342-sf0zld5z 796 19 all all DT cord-035342-sf0zld5z 796 20 relevant relevant JJ cord-035342-sf0zld5z 796 21 studies study NNS cord-035342-sf0zld5z 796 22 . . . cord-035342-sf0zld5z 797 1 As as IN cord-035342-sf0zld5z 797 2 indicated indicate VBN cord-035342-sf0zld5z 797 3 with with IN cord-035342-sf0zld5z 797 4 the the DT cord-035342-sf0zld5z 797 5 full full JJ cord-035342-sf0zld5z 797 6 - - HYPH cord-035342-sf0zld5z 797 7 text text NN cord-035342-sf0zld5z 797 8 search search NN cord-035342-sf0zld5z 797 9 of of IN cord-035342-sf0zld5z 797 10 Google Google NNP cord-035342-sf0zld5z 797 11 Scholar Scholar NNP cord-035342-sf0zld5z 797 12 there there EX cord-035342-sf0zld5z 797 13 are be VBP cord-035342-sf0zld5z 797 14 numerous numerous JJ cord-035342-sf0zld5z 797 15 results result NNS cord-035342-sf0zld5z 797 16 when when WRB cord-035342-sf0zld5z 797 17 searching search VBG cord-035342-sf0zld5z 797 18 for for IN cord-035342-sf0zld5z 797 19 home home NN cord-035342-sf0zld5z 797 20 and and CC cord-035342-sf0zld5z 797 21 local local JJ cord-035342-sf0zld5z 797 22 bias bias NN cord-035342-sf0zld5z 797 23 . . . cord-035342-sf0zld5z 798 1 It -PRON- PRP cord-035342-sf0zld5z 798 2 is be VBZ cord-035342-sf0zld5z 798 3 impossible impossible JJ cord-035342-sf0zld5z 798 4 to to TO cord-035342-sf0zld5z 798 5 achieve achieve VB cord-035342-sf0zld5z 798 6 a a DT cord-035342-sf0zld5z 798 7 fully fully RB cord-035342-sf0zld5z 798 8 comprehensive comprehensive JJ cord-035342-sf0zld5z 798 9 review review NN cord-035342-sf0zld5z 798 10 of of IN cord-035342-sf0zld5z 798 11 all all DT cord-035342-sf0zld5z 798 12 studies study NNS cord-035342-sf0zld5z 798 13 dealing deal VBG cord-035342-sf0zld5z 798 14 with with IN cord-035342-sf0zld5z 798 15 home home NN cord-035342-sf0zld5z 798 16 bias bias NN cord-035342-sf0zld5z 798 17 since since IN cord-035342-sf0zld5z 798 18 the the DT cord-035342-sf0zld5z 798 19 field field NN cord-035342-sf0zld5z 798 20 is be VBZ cord-035342-sf0zld5z 798 21 very very RB cord-035342-sf0zld5z 798 22 broad broad JJ cord-035342-sf0zld5z 798 23 . . . cord-035342-sf0zld5z 799 1 Some some DT cord-035342-sf0zld5z 799 2 studies study NNS cord-035342-sf0zld5z 799 3 which which WDT cord-035342-sf0zld5z 799 4 even even RB cord-035342-sf0zld5z 799 5 not not RB cord-035342-sf0zld5z 799 6 explicitly explicitly RB cord-035342-sf0zld5z 799 7 elaborate elaborate VBP cord-035342-sf0zld5z 799 8 home home NN cord-035342-sf0zld5z 799 9 bias bias NN cord-035342-sf0zld5z 799 10 may may MD cord-035342-sf0zld5z 799 11 be be VB cord-035342-sf0zld5z 799 12 suited suit VBN cord-035342-sf0zld5z 799 13 for for IN cord-035342-sf0zld5z 799 14 explaining explain VBG cord-035342-sf0zld5z 799 15 at at IN cord-035342-sf0zld5z 799 16 least least JJS cord-035342-sf0zld5z 799 17 a a DT cord-035342-sf0zld5z 799 18 part part NN cord-035342-sf0zld5z 799 19 of of IN cord-035342-sf0zld5z 799 20 home home NN cord-035342-sf0zld5z 799 21 bias bias NN cord-035342-sf0zld5z 799 22 . . . cord-035342-sf0zld5z 800 1 However however RB cord-035342-sf0zld5z 800 2 , , , cord-035342-sf0zld5z 800 3 it -PRON- PRP cord-035342-sf0zld5z 800 4 should should MD cord-035342-sf0zld5z 800 5 always always RB cord-035342-sf0zld5z 800 6 be be VB cord-035342-sf0zld5z 800 7 taken take VBN cord-035342-sf0zld5z 800 8 into into IN cord-035342-sf0zld5z 800 9 account account NN cord-035342-sf0zld5z 800 10 that that IN cord-035342-sf0zld5z 800 11 the the DT cord-035342-sf0zld5z 800 12 differentiation differentiation NN cord-035342-sf0zld5z 800 13 between between IN cord-035342-sf0zld5z 800 14 correlations correlation NNS cord-035342-sf0zld5z 800 15 and and CC cord-035342-sf0zld5z 800 16 causalities causality NNS cord-035342-sf0zld5z 800 17 in in IN cord-035342-sf0zld5z 800 18 the the DT cord-035342-sf0zld5z 800 19 considered consider VBN cord-035342-sf0zld5z 800 20 studies study NNS cord-035342-sf0zld5z 800 21 is be VBZ cord-035342-sf0zld5z 800 22 crucial crucial JJ cord-035342-sf0zld5z 800 23 . . . cord-035342-sf0zld5z 801 1 The the DT cord-035342-sf0zld5z 801 2 absolute absolute JJ cord-035342-sf0zld5z 801 3 difference difference NN cord-035342-sf0zld5z 801 4 in in IN cord-035342-sf0zld5z 801 5 cited cite VBN cord-035342-sf0zld5z 801 6 studies study NNS cord-035342-sf0zld5z 801 7 compared compare VBN cord-035342-sf0zld5z 801 8 to to IN cord-035342-sf0zld5z 801 9 the the DT cord-035342-sf0zld5z 801 10 literature literature NN cord-035342-sf0zld5z 801 11 reviews review NNS cord-035342-sf0zld5z 801 12 of of IN cord-035342-sf0zld5z 801 13 both both DT cord-035342-sf0zld5z 801 14 Coeurdacier Coeurdacier NNP cord-035342-sf0zld5z 801 15 and and CC cord-035342-sf0zld5z 801 16 Rey Rey NNP cord-035342-sf0zld5z 801 17 ( ( -LRB- cord-035342-sf0zld5z 801 18 2013 2013 CD cord-035342-sf0zld5z 801 19 ) ) -RRB- cord-035342-sf0zld5z 801 20 and and CC cord-035342-sf0zld5z 801 21 Ardalan Ardalan NNP cord-035342-sf0zld5z 801 22 ( ( -LRB- cord-035342-sf0zld5z 801 23 2019 2019 CD cord-035342-sf0zld5z 801 24 ) ) -RRB- cord-035342-sf0zld5z 801 25 strengthens strengthen VBZ cord-035342-sf0zld5z 801 26 the the DT cord-035342-sf0zld5z 801 27 limitation limitation NN cord-035342-sf0zld5z 801 28 . . . cord-035342-sf0zld5z 802 1 Apart apart RB cord-035342-sf0zld5z 802 2 from from IN cord-035342-sf0zld5z 802 3 the the DT cord-035342-sf0zld5z 802 4 described describe VBN cord-035342-sf0zld5z 802 5 limitations limitation NNS cord-035342-sf0zld5z 802 6 of of IN cord-035342-sf0zld5z 802 7 the the DT cord-035342-sf0zld5z 802 8 method method NN cord-035342-sf0zld5z 802 9 of of IN cord-035342-sf0zld5z 802 10 literature literature NN cord-035342-sf0zld5z 802 11 search search NN cord-035342-sf0zld5z 802 12 , , , cord-035342-sf0zld5z 802 13 it -PRON- PRP cord-035342-sf0zld5z 802 14 has have VBZ cord-035342-sf0zld5z 802 15 to to TO cord-035342-sf0zld5z 802 16 be be VB cord-035342-sf0zld5z 802 17 mentioned mention VBN cord-035342-sf0zld5z 802 18 again again RB cord-035342-sf0zld5z 802 19 that that IN cord-035342-sf0zld5z 802 20 all all DT cord-035342-sf0zld5z 802 21 types type NNS cord-035342-sf0zld5z 802 22 of of IN cord-035342-sf0zld5z 802 23 grey grey JJ cord-035342-sf0zld5z 802 24 literature literature NN cord-035342-sf0zld5z 802 25 are be VBP cord-035342-sf0zld5z 802 26 not not RB cord-035342-sf0zld5z 802 27 included include VBN cord-035342-sf0zld5z 802 28 in in IN cord-035342-sf0zld5z 802 29 this this DT cord-035342-sf0zld5z 802 30 review review NN cord-035342-sf0zld5z 802 31 . . . cord-035342-sf0zld5z 803 1 Despite despite IN cord-035342-sf0zld5z 803 2 the the DT cord-035342-sf0zld5z 803 3 benefits benefit NNS cord-035342-sf0zld5z 803 4 of of IN cord-035342-sf0zld5z 803 5 this this DT cord-035342-sf0zld5z 803 6 procedure procedure NN cord-035342-sf0zld5z 803 7 that that WDT cord-035342-sf0zld5z 803 8 thereby thereby RB cord-035342-sf0zld5z 803 9 just just RB cord-035342-sf0zld5z 803 10 peer peer NN cord-035342-sf0zld5z 803 11 - - HYPH cord-035342-sf0zld5z 803 12 reviewed review VBN cord-035342-sf0zld5z 803 13 articles article NNS cord-035342-sf0zld5z 803 14 are be VBP cord-035342-sf0zld5z 803 15 included include VBN cord-035342-sf0zld5z 803 16 , , , cord-035342-sf0zld5z 803 17 the the DT cord-035342-sf0zld5z 803 18 exclusion exclusion NN cord-035342-sf0zld5z 803 19 of of IN cord-035342-sf0zld5z 803 20 grey grey JJ cord-035342-sf0zld5z 803 21 literature literature NN cord-035342-sf0zld5z 803 22 also also RB cord-035342-sf0zld5z 803 23 constitutes constitute VBZ cord-035342-sf0zld5z 803 24 a a DT cord-035342-sf0zld5z 803 25 limitation limitation NN cord-035342-sf0zld5z 803 26 of of IN cord-035342-sf0zld5z 803 27 this this DT cord-035342-sf0zld5z 803 28 review review NN cord-035342-sf0zld5z 803 29 and and CC cord-035342-sf0zld5z 803 30 could could MD cord-035342-sf0zld5z 803 31 change change VB cord-035342-sf0zld5z 803 32 the the DT cord-035342-sf0zld5z 803 33 structure structure NN cord-035342-sf0zld5z 803 34 of of IN cord-035342-sf0zld5z 803 35 this this DT cord-035342-sf0zld5z 803 36 review review NN cord-035342-sf0zld5z 803 37 considerably considerably RB cord-035342-sf0zld5z 803 38 ( ( -LRB- cord-035342-sf0zld5z 803 39 Fisch Fisch NNP cord-035342-sf0zld5z 803 40 and and CC cord-035342-sf0zld5z 803 41 Block Block NNP cord-035342-sf0zld5z 803 42 2018 2018 CD cord-035342-sf0zld5z 803 43 ) ) -RRB- cord-035342-sf0zld5z 803 44 . . . cord-035342-sf0zld5z 804 1 Funding fund VBG cord-035342-sf0zld5z 804 2 Open Open NNP cord-035342-sf0zld5z 804 3 Access Access NNP cord-035342-sf0zld5z 804 4 funding funding NN cord-035342-sf0zld5z 804 5 enabled enable VBD cord-035342-sf0zld5z 804 6 and and CC cord-035342-sf0zld5z 804 7 organized organize VBN cord-035342-sf0zld5z 804 8 by by IN cord-035342-sf0zld5z 804 9 Projekt Projekt NNP cord-035342-sf0zld5z 804 10 DEAL DEAL NNP cord-035342-sf0zld5z 804 11 . . . cord-035342-sf0zld5z 805 1 Open open VB cord-035342-sf0zld5z 805 2 Access Access NNP cord-035342-sf0zld5z 806 1 This this DT cord-035342-sf0zld5z 806 2 article article NN cord-035342-sf0zld5z 806 3 is be VBZ cord-035342-sf0zld5z 806 4 licensed license VBN cord-035342-sf0zld5z 806 5 under under IN cord-035342-sf0zld5z 806 6 a a DT cord-035342-sf0zld5z 806 7 Creative Creative NNP cord-035342-sf0zld5z 806 8 Commons Commons NNP cord-035342-sf0zld5z 806 9 Attribution Attribution NNP cord-035342-sf0zld5z 806 10 4.0 4.0 CD cord-035342-sf0zld5z 806 11 International International NNP cord-035342-sf0zld5z 806 12 License License NNP cord-035342-sf0zld5z 806 13 , , , cord-035342-sf0zld5z 806 14 which which WDT cord-035342-sf0zld5z 806 15 permits permit VBZ cord-035342-sf0zld5z 806 16 use use NN cord-035342-sf0zld5z 806 17 , , , cord-035342-sf0zld5z 806 18 sharing sharing NN cord-035342-sf0zld5z 806 19 , , , cord-035342-sf0zld5z 806 20 adaptation adaptation NN cord-035342-sf0zld5z 806 21 , , , cord-035342-sf0zld5z 806 22 distribution distribution NN cord-035342-sf0zld5z 806 23 and and CC cord-035342-sf0zld5z 806 24 reproduction reproduction NN cord-035342-sf0zld5z 806 25 in in IN cord-035342-sf0zld5z 806 26 any any DT cord-035342-sf0zld5z 806 27 medium medium NN cord-035342-sf0zld5z 806 28 or or CC cord-035342-sf0zld5z 806 29 format format NN cord-035342-sf0zld5z 806 30 , , , cord-035342-sf0zld5z 806 31 as as RB cord-035342-sf0zld5z 806 32 long long RB cord-035342-sf0zld5z 806 33 as as IN cord-035342-sf0zld5z 806 34 you -PRON- PRP cord-035342-sf0zld5z 806 35 give give VBP cord-035342-sf0zld5z 806 36 appropriate appropriate JJ cord-035342-sf0zld5z 806 37 credit credit NN cord-035342-sf0zld5z 806 38 to to IN cord-035342-sf0zld5z 806 39 the the DT cord-035342-sf0zld5z 806 40 original original JJ cord-035342-sf0zld5z 806 41 author(s author(s NNP cord-035342-sf0zld5z 806 42 ) ) -RRB- cord-035342-sf0zld5z 806 43 and and CC cord-035342-sf0zld5z 806 44 the the DT cord-035342-sf0zld5z 806 45 source source NN cord-035342-sf0zld5z 806 46 , , , cord-035342-sf0zld5z 806 47 provide provide VB cord-035342-sf0zld5z 806 48 a a DT cord-035342-sf0zld5z 806 49 link link NN cord-035342-sf0zld5z 806 50 to to IN cord-035342-sf0zld5z 806 51 the the DT cord-035342-sf0zld5z 806 52 Creative Creative NNP cord-035342-sf0zld5z 806 53 Commons Commons NNP cord-035342-sf0zld5z 806 54 licence licence NN cord-035342-sf0zld5z 806 55 , , , cord-035342-sf0zld5z 806 56 and and CC cord-035342-sf0zld5z 806 57 indicate indicate VBP cord-035342-sf0zld5z 806 58 if if IN cord-035342-sf0zld5z 806 59 changes change NNS cord-035342-sf0zld5z 806 60 were be VBD cord-035342-sf0zld5z 806 61 made make VBN cord-035342-sf0zld5z 806 62 . . . cord-035342-sf0zld5z 807 1 The the DT cord-035342-sf0zld5z 807 2 images image NNS cord-035342-sf0zld5z 807 3 or or CC cord-035342-sf0zld5z 807 4 other other JJ cord-035342-sf0zld5z 807 5 third third JJ cord-035342-sf0zld5z 807 6 party party NN cord-035342-sf0zld5z 807 7 material material NN cord-035342-sf0zld5z 807 8 in in IN cord-035342-sf0zld5z 807 9 this this DT cord-035342-sf0zld5z 807 10 article article NN cord-035342-sf0zld5z 807 11 are be VBP cord-035342-sf0zld5z 807 12 included include VBN cord-035342-sf0zld5z 807 13 in in IN cord-035342-sf0zld5z 807 14 the the DT cord-035342-sf0zld5z 807 15 article article NN cord-035342-sf0zld5z 807 16 's 's POS cord-035342-sf0zld5z 807 17 Creative Creative NNP cord-035342-sf0zld5z 807 18 Commons Commons NNP cord-035342-sf0zld5z 807 19 licence licence NN cord-035342-sf0zld5z 807 20 , , , cord-035342-sf0zld5z 807 21 unless unless IN cord-035342-sf0zld5z 807 22 indicated indicate VBN cord-035342-sf0zld5z 807 23 otherwise otherwise RB cord-035342-sf0zld5z 807 24 in in IN cord-035342-sf0zld5z 807 25 a a DT cord-035342-sf0zld5z 807 26 credit credit NN cord-035342-sf0zld5z 807 27 line line NN cord-035342-sf0zld5z 807 28 to to IN cord-035342-sf0zld5z 807 29 the the DT cord-035342-sf0zld5z 807 30 material material NN cord-035342-sf0zld5z 807 31 . . . cord-035342-sf0zld5z 808 1 If if IN cord-035342-sf0zld5z 808 2 material material NN cord-035342-sf0zld5z 808 3 is be VBZ cord-035342-sf0zld5z 808 4 not not RB cord-035342-sf0zld5z 808 5 included include VBN cord-035342-sf0zld5z 808 6 in in IN cord-035342-sf0zld5z 808 7 the the DT cord-035342-sf0zld5z 808 8 article article NN cord-035342-sf0zld5z 808 9 's 's POS cord-035342-sf0zld5z 808 10 Creative Creative NNP cord-035342-sf0zld5z 808 11 Commons Commons NNP cord-035342-sf0zld5z 808 12 licence licence NN cord-035342-sf0zld5z 808 13 and and CC cord-035342-sf0zld5z 808 14 your -PRON- PRP$ cord-035342-sf0zld5z 808 15 intended intend VBN cord-035342-sf0zld5z 808 16 use use NN cord-035342-sf0zld5z 808 17 is be VBZ cord-035342-sf0zld5z 808 18 not not RB cord-035342-sf0zld5z 808 19 permitted permit VBN cord-035342-sf0zld5z 808 20 by by IN cord-035342-sf0zld5z 808 21 statutory statutory JJ cord-035342-sf0zld5z 808 22 regulation regulation NN cord-035342-sf0zld5z 808 23 or or CC cord-035342-sf0zld5z 808 24 exceeds exceed VBZ cord-035342-sf0zld5z 808 25 the the DT cord-035342-sf0zld5z 808 26 permitted permit VBN cord-035342-sf0zld5z 808 27 use use NN cord-035342-sf0zld5z 808 28 , , , cord-035342-sf0zld5z 808 29 you -PRON- PRP cord-035342-sf0zld5z 808 30 will will MD cord-035342-sf0zld5z 808 31 need need VB cord-035342-sf0zld5z 808 32 to to TO cord-035342-sf0zld5z 808 33 obtain obtain VB cord-035342-sf0zld5z 808 34 permission permission NN cord-035342-sf0zld5z 808 35 directly directly RB cord-035342-sf0zld5z 808 36 from from IN cord-035342-sf0zld5z 808 37 the the DT cord-035342-sf0zld5z 808 38 copyright copyright NN cord-035342-sf0zld5z 808 39 holder holder NN cord-035342-sf0zld5z 808 40 . . . cord-035342-sf0zld5z 809 1 To to TO cord-035342-sf0zld5z 809 2 view view VB cord-035342-sf0zld5z 809 3 a a DT cord-035342-sf0zld5z 809 4 copy copy NN cord-035342-sf0zld5z 809 5 of of IN cord-035342-sf0zld5z 809 6 this this DT cord-035342-sf0zld5z 809 7 licence licence NN cord-035342-sf0zld5z 809 8 , , , cord-035342-sf0zld5z 809 9 visit visit VB cord-035342-sf0zld5z 809 10 http://creat http://creat NNP cord-035342-sf0zld5z 809 11 iveco iveco NNP cord-035342-sf0zld5z 809 12 mmons mmons NNP cord-035342-sf0zld5z 809 13 .org .org . cord-035342-sf0zld5z 810 1 / / NFP cord-035342-sf0zld5z 811 1 licen licen NNP cord-035342-sf0zld5z 811 2 ses ses NNP cord-035342-sf0zld5z 811 3 / / SYM cord-035342-sf0zld5z 811 4 by/4.0/. by/4.0/. JJ cord-035342-sf0zld5z 811 5 Number Number NNP cord-035342-sf0zld5z 811 6 of of IN cord-035342-sf0zld5z 811 7 findings finding NNS cord-035342-sf0zld5z 811 8 in in IN cord-035342-sf0zld5z 811 9 the the DT cord-035342-sf0zld5z 811 10 journal journal NN cord-035342-sf0zld5z 811 11 databases database NNS cord-035342-sf0zld5z 811 12 and and CC cord-035342-sf0zld5z 811 13 other other JJ cord-035342-sf0zld5z 811 14 sources source NNS cord-035342-sf0zld5z 811 15 with with IN cord-035342-sf0zld5z 811 16 different different JJ cord-035342-sf0zld5z 811 17 search search NN cord-035342-sf0zld5z 811 18 requests request NNS cord-035342-sf0zld5z 811 19 _SP cord-035342-sf0zld5z 811 20 Home Home NNP cord-035342-sf0zld5z 811 21 country country NN cord-035342-sf0zld5z 811 22 bias bias NN cord-035342-sf0zld5z 811 23 : : : cord-035342-sf0zld5z 811 24 does do VBZ cord-035342-sf0zld5z 811 25 domestic domestic JJ cord-035342-sf0zld5z 811 26 experience experience NN cord-035342-sf0zld5z 811 27 help help NN cord-035342-sf0zld5z 811 28 investors investor NNS cord-035342-sf0zld5z 811 29 enter enter VB cord-035342-sf0zld5z 811 30 foreign foreign JJ cord-035342-sf0zld5z 811 31 markets market NNS cord-035342-sf0zld5z 811 32 ? ? . cord-035342-sf0zld5z 812 1 International international JJ cord-035342-sf0zld5z 812 2 portfolio portfolio NN cord-035342-sf0zld5z 812 3 choice choice NN cord-035342-sf0zld5z 812 4 and and CC cord-035342-sf0zld5z 812 5 corporation corporation NN cord-035342-sf0zld5z 812 6 finance finance NN cord-035342-sf0zld5z 812 7 : : : cord-035342-sf0zld5z 813 1 a a DT cord-035342-sf0zld5z 813 2 synthesis synthesis NN cord-035342-sf0zld5z 813 3 Portfolio Portfolio NNP cord-035342-sf0zld5z 813 4 preferences preference NNS cord-035342-sf0zld5z 813 5 of of IN cord-035342-sf0zld5z 813 6 foreign foreign JJ cord-035342-sf0zld5z 813 7 institutional institutional JJ cord-035342-sf0zld5z 813 8 investors investor NNS cord-035342-sf0zld5z 813 9 Information information NN cord-035342-sf0zld5z 813 10 costs cost NNS cord-035342-sf0zld5z 813 11 and and CC cord-035342-sf0zld5z 813 12 home home NN cord-035342-sf0zld5z 813 13 bias bias NN cord-035342-sf0zld5z 813 14 : : : cord-035342-sf0zld5z 813 15 an an DT cord-035342-sf0zld5z 813 16 analysis analysis NN cord-035342-sf0zld5z 813 17 of of IN cord-035342-sf0zld5z 813 18 US US NNP cord-035342-sf0zld5z 813 19 holdings holding NNS cord-035342-sf0zld5z 813 20 of of IN cord-035342-sf0zld5z 813 21 foreign foreign JJ cord-035342-sf0zld5z 813 22 equities equity NNS cord-035342-sf0zld5z 813 23 Global global JJ cord-035342-sf0zld5z 813 24 private private JJ cord-035342-sf0zld5z 813 25 information information NN cord-035342-sf0zld5z 813 26 in in IN cord-035342-sf0zld5z 813 27 international international JJ cord-035342-sf0zld5z 813 28 equity equity NN cord-035342-sf0zld5z 813 29 markets market NNS cord-035342-sf0zld5z 813 30 Cultural cultural JJ cord-035342-sf0zld5z 813 31 influences influence NNS cord-035342-sf0zld5z 813 32 on on IN cord-035342-sf0zld5z 813 33 home home NN cord-035342-sf0zld5z 813 34 bias bias NN cord-035342-sf0zld5z 813 35 and and CC cord-035342-sf0zld5z 813 36 international international JJ cord-035342-sf0zld5z 813 37 diversification diversification NN cord-035342-sf0zld5z 813 38 by by IN cord-035342-sf0zld5z 813 39 institutional institutional JJ cord-035342-sf0zld5z 813 40 investors investor NNS cord-035342-sf0zld5z 813 41 Equity Equity NNP cord-035342-sf0zld5z 813 42 home home NN cord-035342-sf0zld5z 813 43 bias bias NN cord-035342-sf0zld5z 814 1 : : : cord-035342-sf0zld5z 814 2 a a DT cord-035342-sf0zld5z 814 3 review review NN cord-035342-sf0zld5z 814 4 essay essay NN cord-035342-sf0zld5z 814 5 Do do VBP cord-035342-sf0zld5z 814 6 local local JJ cord-035342-sf0zld5z 814 7 analysts analyst NNS cord-035342-sf0zld5z 814 8 know know VB cord-035342-sf0zld5z 814 9 more more JJR cord-035342-sf0zld5z 814 10 ? ? . cord-035342-sf0zld5z 815 1 A a DT cord-035342-sf0zld5z 815 2 cross cross JJ cord-035342-sf0zld5z 815 3 - - JJ cord-035342-sf0zld5z 815 4 country country JJ cord-035342-sf0zld5z 815 5 study study NN cord-035342-sf0zld5z 815 6 of of IN cord-035342-sf0zld5z 815 7 the the DT cord-035342-sf0zld5z 815 8 performance performance NN cord-035342-sf0zld5z 815 9 of of IN cord-035342-sf0zld5z 815 10 local local JJ cord-035342-sf0zld5z 815 11 analysts analyst NNS cord-035342-sf0zld5z 815 12 and and CC cord-035342-sf0zld5z 815 13 foreign foreign JJ cord-035342-sf0zld5z 815 14 analysts analyst NNS cord-035342-sf0zld5z 815 15 Local local JJ cord-035342-sf0zld5z 815 16 institutional institutional JJ cord-035342-sf0zld5z 815 17 investors investor NNS cord-035342-sf0zld5z 815 18 , , , cord-035342-sf0zld5z 815 19 information information NN cord-035342-sf0zld5z 815 20 asymmetries asymmetry NNS cord-035342-sf0zld5z 815 21 , , , cord-035342-sf0zld5z 815 22 and and CC cord-035342-sf0zld5z 815 23 equity equity NN cord-035342-sf0zld5z 815 24 returns return NNS cord-035342-sf0zld5z 815 25 Investment investment NN cord-035342-sf0zld5z 815 26 restrictions restriction NNS cord-035342-sf0zld5z 815 27 and and CC cord-035342-sf0zld5z 815 28 the the DT cord-035342-sf0zld5z 815 29 cross cross JJ cord-035342-sf0zld5z 815 30 - - JJ cord-035342-sf0zld5z 815 31 border border JJ cord-035342-sf0zld5z 815 32 flow flow NN cord-035342-sf0zld5z 815 33 of of IN cord-035342-sf0zld5z 815 34 information information NN cord-035342-sf0zld5z 815 35 : : : cord-035342-sf0zld5z 815 36 some some DT cord-035342-sf0zld5z 815 37 empirical empirical JJ cord-035342-sf0zld5z 815 38 evidence evidence NN cord-035342-sf0zld5z 815 39 Is be VBZ cord-035342-sf0zld5z 815 40 local local JJ cord-035342-sf0zld5z 815 41 bias bias NN cord-035342-sf0zld5z 815 42 a a DT cord-035342-sf0zld5z 815 43 cross cross JJ cord-035342-sf0zld5z 815 44 - - JJ cord-035342-sf0zld5z 815 45 border border JJ cord-035342-sf0zld5z 815 46 phenomenon phenomenon NN cord-035342-sf0zld5z 815 47 ? ? . cord-035342-sf0zld5z 816 1 Evidence evidence NN cord-035342-sf0zld5z 816 2 from from IN cord-035342-sf0zld5z 816 3 individual individual JJ cord-035342-sf0zld5z 816 4 investors investor NNS cord-035342-sf0zld5z 816 5 ' ' POS cord-035342-sf0zld5z 816 6 international international JJ cord-035342-sf0zld5z 816 7 asset asset NN cord-035342-sf0zld5z 816 8 allocation allocation NN cord-035342-sf0zld5z 816 9 Nontraded nontraded JJ cord-035342-sf0zld5z 816 10 goods good NNS cord-035342-sf0zld5z 816 11 , , , cord-035342-sf0zld5z 816 12 nontraded nontraded JJ cord-035342-sf0zld5z 816 13 factors factor NNS cord-035342-sf0zld5z 816 14 , , , cord-035342-sf0zld5z 816 15 and and CC cord-035342-sf0zld5z 816 16 international international JJ cord-035342-sf0zld5z 816 17 non non NN cord-035342-sf0zld5z 816 18 - - JJ cord-035342-sf0zld5z 816 19 diversification diversification JJ cord-035342-sf0zld5z 816 20 A a DT cord-035342-sf0zld5z 816 21 cultural cultural JJ cord-035342-sf0zld5z 816 22 explanation explanation NN cord-035342-sf0zld5z 816 23 of of IN cord-035342-sf0zld5z 816 24 the the DT cord-035342-sf0zld5z 816 25 foreign foreign JJ cord-035342-sf0zld5z 816 26 bias bias NN cord-035342-sf0zld5z 816 27 in in IN cord-035342-sf0zld5z 816 28 international international JJ cord-035342-sf0zld5z 816 29 asset asset NN cord-035342-sf0zld5z 816 30 allocation allocation NN cord-035342-sf0zld5z 816 31 Melting melting NN cord-035342-sf0zld5z 816 32 pot pot NN cord-035342-sf0zld5z 816 33 or or CC cord-035342-sf0zld5z 816 34 salad salad NN cord-035342-sf0zld5z 816 35 bowl bowl NN cord-035342-sf0zld5z 816 36 : : : cord-035342-sf0zld5z 816 37 some some DT cord-035342-sf0zld5z 816 38 evidence evidence NN cord-035342-sf0zld5z 816 39 from from IN cord-035342-sf0zld5z 816 40 U.S. U.S. NNP cord-035342-sf0zld5z 816 41 investments investment NNS cord-035342-sf0zld5z 816 42 abroad abroad RB cord-035342-sf0zld5z 816 43 International international JJ cord-035342-sf0zld5z 816 44 capital capital NN cord-035342-sf0zld5z 816 45 market market NN cord-035342-sf0zld5z 816 46 equilibrium equilibrium NN cord-035342-sf0zld5z 816 47 with with IN cord-035342-sf0zld5z 816 48 investment investment NN cord-035342-sf0zld5z 816 49 barriers barrier NNS cord-035342-sf0zld5z 816 50 Proximity Proximity NNP cord-035342-sf0zld5z 816 51 always always RB cord-035342-sf0zld5z 816 52 matters matter VBZ cord-035342-sf0zld5z 816 53 : : : cord-035342-sf0zld5z 816 54 local local JJ cord-035342-sf0zld5z 816 55 bias bias NN cord-035342-sf0zld5z 816 56 when when WRB cord-035342-sf0zld5z 816 57 the the DT cord-035342-sf0zld5z 816 58 set set NN cord-035342-sf0zld5z 816 59 of of IN cord-035342-sf0zld5z 816 60 local local JJ cord-035342-sf0zld5z 816 61 companies company NNS cord-035342-sf0zld5z 816 62 changes change VBZ cord-035342-sf0zld5z 816 63 Wages wage NNS cord-035342-sf0zld5z 816 64 , , , cord-035342-sf0zld5z 816 65 profits profit NNS cord-035342-sf0zld5z 816 66 and and CC cord-035342-sf0zld5z 816 67 the the DT cord-035342-sf0zld5z 816 68 international international JJ cord-035342-sf0zld5z 816 69 portfolio portfolio NN cord-035342-sf0zld5z 816 70 puzzle puzzle NN cord-035342-sf0zld5z 816 71 Accounting Accounting NNP cord-035342-sf0zld5z 816 72 choice choice NN cord-035342-sf0zld5z 816 73 , , , cord-035342-sf0zld5z 816 74 home home NN cord-035342-sf0zld5z 816 75 bias bias NN cord-035342-sf0zld5z 816 76 , , , cord-035342-sf0zld5z 816 77 and and CC cord-035342-sf0zld5z 816 78 U.S. U.S. NNP cord-035342-sf0zld5z 816 79 investment investment NN cord-035342-sf0zld5z 816 80 in in IN cord-035342-sf0zld5z 816 81 non non JJ cord-035342-sf0zld5z 816 82 - - JJ cord-035342-sf0zld5z 816 83 U.S. U.S. NNP cord-035342-sf0zld5z 816 84 firms firm NNS cord-035342-sf0zld5z 816 85 Distance Distance NNP cord-035342-sf0zld5z 816 86 still still RB cord-035342-sf0zld5z 816 87 matters matter VBZ cord-035342-sf0zld5z 816 88 : : : cord-035342-sf0zld5z 816 89 evidence evidence NN cord-035342-sf0zld5z 816 90 from from IN cord-035342-sf0zld5z 816 91 municipal municipal JJ cord-035342-sf0zld5z 816 92 bond bond NN cord-035342-sf0zld5z 816 93 underwriting underwrite VBG cord-035342-sf0zld5z 816 94 Financial financial JJ cord-035342-sf0zld5z 816 95 literacy literacy NN cord-035342-sf0zld5z 816 96 and and CC cord-035342-sf0zld5z 816 97 the the DT cord-035342-sf0zld5z 816 98 demand demand NN cord-035342-sf0zld5z 816 99 for for IN cord-035342-sf0zld5z 816 100 financial financial JJ cord-035342-sf0zld5z 816 101 advice advice NN cord-035342-sf0zld5z 816 102 What what WP cord-035342-sf0zld5z 816 103 determines determine VBZ cord-035342-sf0zld5z 816 104 the the DT cord-035342-sf0zld5z 816 105 domestic domestic JJ cord-035342-sf0zld5z 816 106 bias bias NN cord-035342-sf0zld5z 816 107 and and CC cord-035342-sf0zld5z 816 108 foreign foreign JJ cord-035342-sf0zld5z 816 109 bias bias NN cord-035342-sf0zld5z 816 110 ? ? . cord-035342-sf0zld5z 817 1 Evidence evidence NN cord-035342-sf0zld5z 817 2 from from IN cord-035342-sf0zld5z 817 3 mutual mutual JJ cord-035342-sf0zld5z 817 4 fund fund NN cord-035342-sf0zld5z 817 5 equity equity NN cord-035342-sf0zld5z 817 6 allocations allocation NNS cord-035342-sf0zld5z 817 7 worldwide worldwide RB cord-035342-sf0zld5z 817 8 Portfolio Portfolio NNP cord-035342-sf0zld5z 817 9 concentration concentration NN cord-035342-sf0zld5z 817 10 and and CC cord-035342-sf0zld5z 817 11 performance performance NN cord-035342-sf0zld5z 817 12 of of IN cord-035342-sf0zld5z 817 13 institutional institutional JJ cord-035342-sf0zld5z 817 14 investors investor NNS cord-035342-sf0zld5z 817 15 worldwide worldwide RB cord-035342-sf0zld5z 817 16 Home home NN cord-035342-sf0zld5z 817 17 bias bias NN cord-035342-sf0zld5z 817 18 and and CC cord-035342-sf0zld5z 817 19 international international JJ cord-035342-sf0zld5z 817 20 capital capital NN cord-035342-sf0zld5z 817 21 asset asset NN cord-035342-sf0zld5z 817 22 pricing pricing NN cord-035342-sf0zld5z 817 23 model model NN cord-035342-sf0zld5z 817 24 with with IN cord-035342-sf0zld5z 817 25 human human JJ cord-035342-sf0zld5z 817 26 capital capital NN cord-035342-sf0zld5z 817 27 Home Home NNP cord-035342-sf0zld5z 817 28 bias bias NN cord-035342-sf0zld5z 817 29 in in IN cord-035342-sf0zld5z 817 30 open open JJ cord-035342-sf0zld5z 817 31 economy economy NN cord-035342-sf0zld5z 817 32 financial financial JJ cord-035342-sf0zld5z 817 33 macroeconomics macroeconomic NNS cord-035342-sf0zld5z 817 34 Loyalty Loyalty NNP cord-035342-sf0zld5z 817 35 - - HYPH cord-035342-sf0zld5z 817 36 based base VBN cord-035342-sf0zld5z 817 37 portfolio portfolio NN cord-035342-sf0zld5z 817 38 choice choice NN cord-035342-sf0zld5z 817 39 Home home NN cord-035342-sf0zld5z 817 40 bias bias NN cord-035342-sf0zld5z 817 41 in in IN cord-035342-sf0zld5z 817 42 equity equity NN cord-035342-sf0zld5z 817 43 portfolios portfolio NNS cord-035342-sf0zld5z 817 44 , , , cord-035342-sf0zld5z 817 45 inflation inflation NN cord-035342-sf0zld5z 817 46 hedging hedging NN cord-035342-sf0zld5z 817 47 , , , cord-035342-sf0zld5z 817 48 and and CC cord-035342-sf0zld5z 817 49 international international JJ cord-035342-sf0zld5z 817 50 capital capital NN cord-035342-sf0zld5z 817 51 market market NN cord-035342-sf0zld5z 817 52 equilibrium equilibrium NN cord-035342-sf0zld5z 818 1 A a DT cord-035342-sf0zld5z 818 2 measure measure NN cord-035342-sf0zld5z 818 3 of of IN cord-035342-sf0zld5z 818 4 pure pure JJ cord-035342-sf0zld5z 818 5 home home NN cord-035342-sf0zld5z 818 6 bias bias NN cord-035342-sf0zld5z 818 7 Home home NN cord-035342-sf0zld5z 818 8 bias bias NN cord-035342-sf0zld5z 818 9 at at IN cord-035342-sf0zld5z 818 10 home home NN cord-035342-sf0zld5z 818 11 : : : cord-035342-sf0zld5z 818 12 local local JJ cord-035342-sf0zld5z 818 13 equity equity NN cord-035342-sf0zld5z 818 14 preference preference NN cord-035342-sf0zld5z 818 15 in in IN cord-035342-sf0zld5z 818 16 domestic domestic JJ cord-035342-sf0zld5z 818 17 portfolios portfolio NNS cord-035342-sf0zld5z 819 1 The the DT cord-035342-sf0zld5z 819 2 geography geography NN cord-035342-sf0zld5z 819 3 of of IN cord-035342-sf0zld5z 819 4 investment investment NN cord-035342-sf0zld5z 819 5 : : : cord-035342-sf0zld5z 819 6 informed inform VBN cord-035342-sf0zld5z 819 7 trading trading NN cord-035342-sf0zld5z 819 8 and and CC cord-035342-sf0zld5z 819 9 asset asset NN cord-035342-sf0zld5z 819 10 prices price NNS cord-035342-sf0zld5z 819 11 Home Home NNP cord-035342-sf0zld5z 819 12 bias bias NN cord-035342-sf0zld5z 819 13 , , , cord-035342-sf0zld5z 819 14 foreign foreign JJ cord-035342-sf0zld5z 819 15 mutual mutual JJ cord-035342-sf0zld5z 819 16 fund fund NN cord-035342-sf0zld5z 819 17 holdings holding NNS cord-035342-sf0zld5z 819 18 , , , cord-035342-sf0zld5z 819 19 and and CC cord-035342-sf0zld5z 819 20 the the DT cord-035342-sf0zld5z 819 21 voluntary voluntary JJ cord-035342-sf0zld5z 819 22 adoption adoption NN cord-035342-sf0zld5z 819 23 of of IN cord-035342-sf0zld5z 819 24 international international JJ cord-035342-sf0zld5z 819 25 accounting accounting NN cord-035342-sf0zld5z 819 26 standards standard NNS cord-035342-sf0zld5z 819 27 Local local JJ cord-035342-sf0zld5z 819 28 bias bias NN cord-035342-sf0zld5z 819 29 in in IN cord-035342-sf0zld5z 819 30 venture venture NN cord-035342-sf0zld5z 819 31 capital capital NN cord-035342-sf0zld5z 819 32 investments investment NNS cord-035342-sf0zld5z 819 33 Direct direct JJ cord-035342-sf0zld5z 819 34 foreign foreign JJ cord-035342-sf0zld5z 819 35 ownership ownership NN cord-035342-sf0zld5z 819 36 , , , cord-035342-sf0zld5z 819 37 institutional institutional JJ cord-035342-sf0zld5z 819 38 investors investor NNS cord-035342-sf0zld5z 819 39 , , , cord-035342-sf0zld5z 819 40 and and CC cord-035342-sf0zld5z 819 41 firm firm NN cord-035342-sf0zld5z 819 42 characteristics characteristic NNS cord-035342-sf0zld5z 819 43 Corporate corporate JJ cord-035342-sf0zld5z 819 44 governance governance NN cord-035342-sf0zld5z 819 45 and and CC cord-035342-sf0zld5z 819 46 the the DT cord-035342-sf0zld5z 819 47 home home NN cord-035342-sf0zld5z 819 48 bias bias NN cord-035342-sf0zld5z 819 49 Ambiguity Ambiguity NNP cord-035342-sf0zld5z 819 50 aversion aversion NN cord-035342-sf0zld5z 819 51 and and CC cord-035342-sf0zld5z 819 52 household household NN cord-035342-sf0zld5z 819 53 portfolio portfolio NN cord-035342-sf0zld5z 819 54 choice choice NN cord-035342-sf0zld5z 819 55 puzzles puzzle NNS cord-035342-sf0zld5z 819 56 : : : cord-035342-sf0zld5z 819 57 empirical empirical JJ cord-035342-sf0zld5z 819 58 evidence evidence NN cord-035342-sf0zld5z 819 59 Domestic domestic JJ cord-035342-sf0zld5z 819 60 and and CC cord-035342-sf0zld5z 819 61 foreign foreign JJ cord-035342-sf0zld5z 819 62 country country NN cord-035342-sf0zld5z 819 63 bias bias NN cord-035342-sf0zld5z 819 64 in in IN cord-035342-sf0zld5z 819 65 international international JJ cord-035342-sf0zld5z 819 66 equity equity NN cord-035342-sf0zld5z 819 67 portfolios portfolio NNS cord-035342-sf0zld5z 820 1 Do do VBP cord-035342-sf0zld5z 820 2 domestic domestic JJ cord-035342-sf0zld5z 820 3 investors investor NNS cord-035342-sf0zld5z 820 4 have have VB cord-035342-sf0zld5z 820 5 an an DT cord-035342-sf0zld5z 820 6 information information NN cord-035342-sf0zld5z 820 7 advantage advantage NN cord-035342-sf0zld5z 820 8 ? ? . cord-035342-sf0zld5z 821 1 Evidence evidence NN cord-035342-sf0zld5z 821 2 from from IN cord-035342-sf0zld5z 821 3 Indonesia Indonesia NNP cord-035342-sf0zld5z 821 4 Asymmetric Asymmetric NNP cord-035342-sf0zld5z 821 5 information information NN cord-035342-sf0zld5z 821 6 , , , cord-035342-sf0zld5z 821 7 portfolio portfolio NN cord-035342-sf0zld5z 821 8 managers manager NNS cord-035342-sf0zld5z 821 9 , , , cord-035342-sf0zld5z 821 10 and and CC cord-035342-sf0zld5z 821 11 home home NN cord-035342-sf0zld5z 821 12 bias bias NN cord-035342-sf0zld5z 821 13 Global Global NNP cord-035342-sf0zld5z 821 14 property property NN cord-035342-sf0zld5z 821 15 investment investment NN cord-035342-sf0zld5z 821 16 and and CC cord-035342-sf0zld5z 821 17 the the DT cord-035342-sf0zld5z 821 18 costs cost NNS cord-035342-sf0zld5z 821 19 of of IN cord-035342-sf0zld5z 821 20 international international JJ cord-035342-sf0zld5z 821 21 diversification diversification NN cord-035342-sf0zld5z 821 22 Equity Equity NNP cord-035342-sf0zld5z 821 23 home home NN cord-035342-sf0zld5z 821 24 bias bias NN cord-035342-sf0zld5z 821 25 and and CC cord-035342-sf0zld5z 821 26 corporate corporate JJ cord-035342-sf0zld5z 821 27 disclosure disclosure NN cord-035342-sf0zld5z 821 28 Home home NN cord-035342-sf0zld5z 821 29 asset asset NN cord-035342-sf0zld5z 821 30 preference preference NN cord-035342-sf0zld5z 821 31 and and CC cord-035342-sf0zld5z 821 32 productivity productivity NN cord-035342-sf0zld5z 821 33 shocks shock NNS cord-035342-sf0zld5z 821 34 Risk risk NN cord-035342-sf0zld5z 821 35 , , , cord-035342-sf0zld5z 821 36 ambiguity ambiguity NN cord-035342-sf0zld5z 821 37 , , , cord-035342-sf0zld5z 821 38 and and CC cord-035342-sf0zld5z 821 39 the the DT cord-035342-sf0zld5z 821 40 savage savage JJ cord-035342-sf0zld5z 821 41 axioms axiom NNS cord-035342-sf0zld5z 822 1 The the DT cord-035342-sf0zld5z 822 2 determinants determinant NNS cord-035342-sf0zld5z 822 3 of of IN cord-035342-sf0zld5z 822 4 domestic domestic JJ cord-035342-sf0zld5z 822 5 and and CC cord-035342-sf0zld5z 822 6 foreign foreign JJ cord-035342-sf0zld5z 822 7 bond bond NN cord-035342-sf0zld5z 822 8 bias bias NN cord-035342-sf0zld5z 822 9 Home Home NNP cord-035342-sf0zld5z 822 10 bias bias NN cord-035342-sf0zld5z 822 11 in in IN cord-035342-sf0zld5z 822 12 global global JJ cord-035342-sf0zld5z 822 13 bond bond NN cord-035342-sf0zld5z 822 14 and and CC cord-035342-sf0zld5z 822 15 equity equity NN cord-035342-sf0zld5z 822 16 markets market NNS cord-035342-sf0zld5z 822 17 : : : cord-035342-sf0zld5z 822 18 the the DT cord-035342-sf0zld5z 822 19 role role NN cord-035342-sf0zld5z 822 20 of of IN cord-035342-sf0zld5z 822 21 real real JJ cord-035342-sf0zld5z 822 22 exchange exchange NN cord-035342-sf0zld5z 822 23 rate rate NN cord-035342-sf0zld5z 822 24 volatility volatility NN cord-035342-sf0zld5z 822 25 Six six CD cord-035342-sf0zld5z 822 26 tips tip NNS cord-035342-sf0zld5z 822 27 for for IN cord-035342-sf0zld5z 822 28 your -PRON- PRP$ cord-035342-sf0zld5z 822 29 ( ( -LRB- cord-035342-sf0zld5z 822 30 systematic systematic JJ cord-035342-sf0zld5z 822 31 ) ) -RRB- cord-035342-sf0zld5z 822 32 literature literature NN cord-035342-sf0zld5z 822 33 review review NN cord-035342-sf0zld5z 822 34 in in IN cord-035342-sf0zld5z 822 35 business business NN cord-035342-sf0zld5z 822 36 and and CC cord-035342-sf0zld5z 822 37 management management NN cord-035342-sf0zld5z 822 38 research research NN cord-035342-sf0zld5z 822 39 Asset Asset NNP cord-035342-sf0zld5z 822 40 prices price NNS cord-035342-sf0zld5z 822 41 , , , cord-035342-sf0zld5z 822 42 news news NN cord-035342-sf0zld5z 822 43 shocks shock NNS cord-035342-sf0zld5z 822 44 , , , cord-035342-sf0zld5z 822 45 and and CC cord-035342-sf0zld5z 822 46 the the DT cord-035342-sf0zld5z 822 47 trade trade NN cord-035342-sf0zld5z 822 48 balance balance NN cord-035342-sf0zld5z 822 49 Presidential presidential JJ cord-035342-sf0zld5z 822 50 address address NN cord-035342-sf0zld5z 822 51 : : : cord-035342-sf0zld5z 822 52 the the DT cord-035342-sf0zld5z 822 53 cost cost NN cord-035342-sf0zld5z 822 54 of of IN cord-035342-sf0zld5z 822 55 active active JJ cord-035342-sf0zld5z 822 56 investing invest VBG cord-035342-sf0zld5z 822 57 Investor investor NN cord-035342-sf0zld5z 822 58 diversification diversification NN cord-035342-sf0zld5z 822 59 and and CC cord-035342-sf0zld5z 822 60 international international JJ cord-035342-sf0zld5z 822 61 equity equity NN cord-035342-sf0zld5z 822 62 markets market NNS cord-035342-sf0zld5z 822 63 International international JJ cord-035342-sf0zld5z 822 64 diversification diversification NN cord-035342-sf0zld5z 822 65 gains gain NNS cord-035342-sf0zld5z 822 66 and and CC cord-035342-sf0zld5z 822 67 home home NN cord-035342-sf0zld5z 822 68 bias bias NN cord-035342-sf0zld5z 822 69 in in IN cord-035342-sf0zld5z 822 70 banking bank VBG cord-035342-sf0zld5z 822 71 Local local JJ cord-035342-sf0zld5z 822 72 ownership ownership NN cord-035342-sf0zld5z 822 73 as as IN cord-035342-sf0zld5z 822 74 private private JJ cord-035342-sf0zld5z 822 75 information information NN cord-035342-sf0zld5z 822 76 : : : cord-035342-sf0zld5z 822 77 evidence evidence NN cord-035342-sf0zld5z 822 78 on on IN cord-035342-sf0zld5z 822 79 the the DT cord-035342-sf0zld5z 822 80 monitoring monitoring NN cord-035342-sf0zld5z 822 81 - - HYPH cord-035342-sf0zld5z 822 82 liquidity liquidity NN cord-035342-sf0zld5z 822 83 trade trade NN cord-035342-sf0zld5z 822 84 - - HYPH cord-035342-sf0zld5z 822 85 off off RP cord-035342-sf0zld5z 822 86 The the DT cord-035342-sf0zld5z 822 87 flight flight NN cord-035342-sf0zld5z 822 88 home home NN cord-035342-sf0zld5z 822 89 effect effect NN cord-035342-sf0zld5z 822 90 : : : cord-035342-sf0zld5z 822 91 evidence evidence NN cord-035342-sf0zld5z 822 92 from from IN cord-035342-sf0zld5z 822 93 the the DT cord-035342-sf0zld5z 822 94 syndicated syndicate VBN cord-035342-sf0zld5z 822 95 loan loan NN cord-035342-sf0zld5z 822 96 market market NN cord-035342-sf0zld5z 822 97 during during IN cord-035342-sf0zld5z 822 98 financial financial JJ cord-035342-sf0zld5z 822 99 crises crisis NNS cord-035342-sf0zld5z 822 100 Local local JJ cord-035342-sf0zld5z 822 101 ownership ownership NN cord-035342-sf0zld5z 822 102 , , , cord-035342-sf0zld5z 822 103 crises crisis NNS cord-035342-sf0zld5z 822 104 , , , cord-035342-sf0zld5z 822 105 and and CC cord-035342-sf0zld5z 822 106 asset asset NN cord-035342-sf0zld5z 822 107 prices price NNS cord-035342-sf0zld5z 822 108 : : : cord-035342-sf0zld5z 822 109 evidence evidence NN cord-035342-sf0zld5z 822 110 from from IN cord-035342-sf0zld5z 822 111 US US NNP cord-035342-sf0zld5z 822 112 mutual mutual JJ cord-035342-sf0zld5z 822 113 funds fund NNS cord-035342-sf0zld5z 822 114 What what WP cord-035342-sf0zld5z 822 115 causes cause VBZ cord-035342-sf0zld5z 822 116 home home NN cord-035342-sf0zld5z 822 117 asset asset NN cord-035342-sf0zld5z 822 118 bias bias NN cord-035342-sf0zld5z 823 1 and and CC cord-035342-sf0zld5z 823 2 how how WRB cord-035342-sf0zld5z 823 3 should should MD cord-035342-sf0zld5z 823 4 it -PRON- PRP cord-035342-sf0zld5z 823 5 be be VB cord-035342-sf0zld5z 823 6 measured measure VBN cord-035342-sf0zld5z 823 7 ? ? . cord-035342-sf0zld5z 824 1 Investor investor NN cord-035342-sf0zld5z 824 2 competence competence NN cord-035342-sf0zld5z 824 3 , , , cord-035342-sf0zld5z 824 4 trading trading NN cord-035342-sf0zld5z 824 5 frequency frequency NN cord-035342-sf0zld5z 824 6 , , , cord-035342-sf0zld5z 824 7 and and CC cord-035342-sf0zld5z 824 8 home home NN cord-035342-sf0zld5z 824 9 bias bias NN cord-035342-sf0zld5z 825 1 The the DT cord-035342-sf0zld5z 825 2 investment investment NN cord-035342-sf0zld5z 825 3 behavior behavior NN cord-035342-sf0zld5z 825 4 and and CC cord-035342-sf0zld5z 825 5 performance performance NN cord-035342-sf0zld5z 825 6 of of IN cord-035342-sf0zld5z 825 7 various various JJ cord-035342-sf0zld5z 825 8 investor investor NN cord-035342-sf0zld5z 825 9 types type NNS cord-035342-sf0zld5z 825 10 : : : cord-035342-sf0zld5z 825 11 a a DT cord-035342-sf0zld5z 825 12 study study NN cord-035342-sf0zld5z 825 13 of of IN cord-035342-sf0zld5z 825 14 Finland Finland NNP cord-035342-sf0zld5z 825 15 's 's POS cord-035342-sf0zld5z 825 16 unique unique JJ cord-035342-sf0zld5z 825 17 data data NN cord-035342-sf0zld5z 825 18 set set VBN cord-035342-sf0zld5z 825 19 How how WRB cord-035342-sf0zld5z 825 20 distance distance NN cord-035342-sf0zld5z 825 21 , , , cord-035342-sf0zld5z 825 22 language language NN cord-035342-sf0zld5z 825 23 , , , cord-035342-sf0zld5z 825 24 and and CC cord-035342-sf0zld5z 825 25 culture culture NN cord-035342-sf0zld5z 825 26 influence influence NN cord-035342-sf0zld5z 825 27 stockholdings stockholding NNS cord-035342-sf0zld5z 825 28 and and CC cord-035342-sf0zld5z 825 29 trades trade NNS cord-035342-sf0zld5z 825 30 Ambiguity ambiguity NN cord-035342-sf0zld5z 825 31 aversion aversion NN cord-035342-sf0zld5z 825 32 and and CC cord-035342-sf0zld5z 825 33 underdiversification underdiversification NN cord-035342-sf0zld5z 826 1 The the DT cord-035342-sf0zld5z 826 2 home home NN cord-035342-sf0zld5z 826 3 bias bias NN cord-035342-sf0zld5z 826 4 in in IN cord-035342-sf0zld5z 826 5 equities equity NNS cord-035342-sf0zld5z 826 6 and and CC cord-035342-sf0zld5z 826 7 distribution distribution NN cord-035342-sf0zld5z 826 8 costs cost VBZ cord-035342-sf0zld5z 826 9 Location location NN cord-035342-sf0zld5z 826 10 matters matter VBZ cord-035342-sf0zld5z 826 11 : : : cord-035342-sf0zld5z 826 12 an an DT cord-035342-sf0zld5z 826 13 examination examination NN cord-035342-sf0zld5z 826 14 of of IN cord-035342-sf0zld5z 826 15 trading trading NN cord-035342-sf0zld5z 826 16 profits profit NNS cord-035342-sf0zld5z 826 17 Home home NN cord-035342-sf0zld5z 826 18 bias bias NN cord-035342-sf0zld5z 826 19 at at IN cord-035342-sf0zld5z 826 20 the the DT cord-035342-sf0zld5z 826 21 fund fund NN cord-035342-sf0zld5z 826 22 level level NN cord-035342-sf0zld5z 826 23 Preference preference NN cord-035342-sf0zld5z 826 24 and and CC cord-035342-sf0zld5z 826 25 belief belief NN cord-035342-sf0zld5z 826 26 : : : cord-035342-sf0zld5z 826 27 ambiguity ambiguity NN cord-035342-sf0zld5z 826 28 and and CC cord-035342-sf0zld5z 826 29 competence competence NN cord-035342-sf0zld5z 826 30 in in IN cord-035342-sf0zld5z 826 31 choice choice NN cord-035342-sf0zld5z 826 32 under under IN cord-035342-sf0zld5z 826 33 uncertainty uncertainty NN cord-035342-sf0zld5z 826 34 Thy Thy NNP cord-035342-sf0zld5z 826 35 neighbor neighbor NN cord-035342-sf0zld5z 826 36 's 's POS cord-035342-sf0zld5z 826 37 portfolio portfolio NN cord-035342-sf0zld5z 826 38 : : : cord-035342-sf0zld5z 826 39 word word NN cord-035342-sf0zld5z 826 40 - - HYPH cord-035342-sf0zld5z 826 41 of of IN cord-035342-sf0zld5z 826 42 - - HYPH cord-035342-sf0zld5z 826 43 mouth mouth NN cord-035342-sf0zld5z 826 44 effects effect NNS cord-035342-sf0zld5z 826 45 in in IN cord-035342-sf0zld5z 826 46 the the DT cord-035342-sf0zld5z 826 47 holdings holding NNS cord-035342-sf0zld5z 826 48 and and CC cord-035342-sf0zld5z 826 49 trades trade NNS cord-035342-sf0zld5z 826 50 of of IN cord-035342-sf0zld5z 827 1 money money NN cord-035342-sf0zld5z 827 2 managers managers NNPS cord-035342-sf0zld5z 827 3 Familiarity Familiarity NNP cord-035342-sf0zld5z 827 4 breeds breed VBZ cord-035342-sf0zld5z 827 5 investment investment NN cord-035342-sf0zld5z 827 6 Domestic domestic JJ cord-035342-sf0zld5z 827 7 and and CC cord-035342-sf0zld5z 827 8 foreign foreign JJ cord-035342-sf0zld5z 827 9 bias bias NN cord-035342-sf0zld5z 827 10 in in IN cord-035342-sf0zld5z 827 11 real real JJ cord-035342-sf0zld5z 827 12 estate estate NN cord-035342-sf0zld5z 827 13 mutual mutual JJ cord-035342-sf0zld5z 827 14 funds fund NNS cord-035342-sf0zld5z 827 15 Local local JJ cord-035342-sf0zld5z 827 16 does do VBZ cord-035342-sf0zld5z 827 17 as as RB cord-035342-sf0zld5z 827 18 local local JJ cord-035342-sf0zld5z 827 19 is be VBZ cord-035342-sf0zld5z 827 20 : : : cord-035342-sf0zld5z 827 21 information information NN cord-035342-sf0zld5z 827 22 content content NN cord-035342-sf0zld5z 827 23 of of IN cord-035342-sf0zld5z 827 24 the the DT cord-035342-sf0zld5z 827 25 geography geography NN cord-035342-sf0zld5z 827 26 of of IN cord-035342-sf0zld5z 827 27 individual individual JJ cord-035342-sf0zld5z 827 28 investors investor NNS cord-035342-sf0zld5z 827 29 ' ' POS cord-035342-sf0zld5z 827 30 common common JJ cord-035342-sf0zld5z 827 31 stock stock NN cord-035342-sf0zld5z 827 32 investments investment NNS cord-035342-sf0zld5z 827 33 Portfolio Portfolio NNP cord-035342-sf0zld5z 827 34 concentration concentration NN cord-035342-sf0zld5z 827 35 and and CC cord-035342-sf0zld5z 827 36 the the DT cord-035342-sf0zld5z 827 37 performance performance NN cord-035342-sf0zld5z 827 38 of of IN cord-035342-sf0zld5z 827 39 individual individual JJ cord-035342-sf0zld5z 827 40 investors investor NNS cord-035342-sf0zld5z 828 1 The the DT cord-035342-sf0zld5z 828 2 trading trading NN cord-035342-sf0zld5z 828 3 volume volume NN cord-035342-sf0zld5z 828 4 impact impact NN cord-035342-sf0zld5z 828 5 of of IN cord-035342-sf0zld5z 828 6 local local JJ cord-035342-sf0zld5z 828 7 bias bias NN cord-035342-sf0zld5z 828 8 : : : cord-035342-sf0zld5z 828 9 evidence evidence NN cord-035342-sf0zld5z 828 10 from from IN cord-035342-sf0zld5z 828 11 a a DT cord-035342-sf0zld5z 828 12 natural natural JJ cord-035342-sf0zld5z 828 13 experiment experiment NN cord-035342-sf0zld5z 828 14 Foreign foreign JJ cord-035342-sf0zld5z 828 15 versus versus IN cord-035342-sf0zld5z 828 16 local local JJ cord-035342-sf0zld5z 828 17 investors investor NNS cord-035342-sf0zld5z 828 18 : : : cord-035342-sf0zld5z 828 19 who who WP cord-035342-sf0zld5z 828 20 knows know VBZ cord-035342-sf0zld5z 828 21 more more RBR cord-035342-sf0zld5z 828 22 ? ? . cord-035342-sf0zld5z 829 1 Who who WP cord-035342-sf0zld5z 829 2 makes make VBZ cord-035342-sf0zld5z 829 3 more more JJR cord-035342-sf0zld5z 829 4 ? ? . cord-035342-sf0zld5z 830 1 Why why WRB cord-035342-sf0zld5z 830 2 is be VBZ cord-035342-sf0zld5z 830 3 there there EX cord-035342-sf0zld5z 830 4 a a DT cord-035342-sf0zld5z 830 5 home home NN cord-035342-sf0zld5z 830 6 bias bias NN cord-035342-sf0zld5z 830 7 ? ? . cord-035342-sf0zld5z 831 1 An an DT cord-035342-sf0zld5z 831 2 analysis analysis NN cord-035342-sf0zld5z 831 3 of of IN cord-035342-sf0zld5z 831 4 foreign foreign JJ cord-035342-sf0zld5z 831 5 portfolio portfolio NN cord-035342-sf0zld5z 831 6 equity equity NN cord-035342-sf0zld5z 831 7 ownership ownership NN cord-035342-sf0zld5z 831 8 in in IN cord-035342-sf0zld5z 831 9 Japan Japan NNP cord-035342-sf0zld5z 831 10 Home Home NNP cord-035342-sf0zld5z 831 11 sweet sweet NNP cord-035342-sf0zld5z 831 12 home home NN cord-035342-sf0zld5z 831 13 : : : cord-035342-sf0zld5z 831 14 home home NN cord-035342-sf0zld5z 831 15 bias bias NN cord-035342-sf0zld5z 831 16 and and CC cord-035342-sf0zld5z 831 17 international international JJ cord-035342-sf0zld5z 831 18 diversification diversification NN cord-035342-sf0zld5z 831 19 among among IN cord-035342-sf0zld5z 831 20 individual individual JJ cord-035342-sf0zld5z 831 21 investors investor NNS cord-035342-sf0zld5z 831 22 Home Home NNP cord-035342-sf0zld5z 831 23 bias bias NN cord-035342-sf0zld5z 831 24 , , , cord-035342-sf0zld5z 831 25 an an DT cord-035342-sf0zld5z 831 26 academic academic JJ cord-035342-sf0zld5z 831 27 puzzle puzzle NN cord-035342-sf0zld5z 831 28 Home home NN cord-035342-sf0zld5z 831 29 bias bias NN cord-035342-sf0zld5z 831 30 in in IN cord-035342-sf0zld5z 831 31 international international JJ cord-035342-sf0zld5z 831 32 stock stock NN cord-035342-sf0zld5z 831 33 return return NN cord-035342-sf0zld5z 831 34 expectations expectation NNS cord-035342-sf0zld5z 831 35 Financial financial JJ cord-035342-sf0zld5z 831 36 literacy literacy NN cord-035342-sf0zld5z 831 37 , , , cord-035342-sf0zld5z 831 38 confidence confidence NN cord-035342-sf0zld5z 831 39 and and CC cord-035342-sf0zld5z 831 40 financial financial JJ cord-035342-sf0zld5z 831 41 advice advice NN cord-035342-sf0zld5z 831 42 seeking seek VBG cord-035342-sf0zld5z 831 43 Home home NN cord-035342-sf0zld5z 831 44 - - HYPH cord-035342-sf0zld5z 831 45 biased bias VBN cord-035342-sf0zld5z 831 46 analysts analyst NNS cord-035342-sf0zld5z 831 47 in in IN cord-035342-sf0zld5z 831 48 emerging emerge VBG cord-035342-sf0zld5z 831 49 markets market NNS cord-035342-sf0zld5z 832 1 The the DT cord-035342-sf0zld5z 832 2 world world NN cord-035342-sf0zld5z 832 3 price price NN cord-035342-sf0zld5z 832 4 of of IN cord-035342-sf0zld5z 832 5 home home NN cord-035342-sf0zld5z 832 6 bias bias NN cord-035342-sf0zld5z 832 7 Does do VBZ cord-035342-sf0zld5z 832 8 the the DT cord-035342-sf0zld5z 832 9 preference preference NN cord-035342-sf0zld5z 832 10 for for IN cord-035342-sf0zld5z 832 11 investment investment NN cord-035342-sf0zld5z 832 12 in in IN cord-035342-sf0zld5z 832 13 local local JJ cord-035342-sf0zld5z 832 14 firms firm NNS cord-035342-sf0zld5z 832 15 rise rise VBP cord-035342-sf0zld5z 832 16 in in IN cord-035342-sf0zld5z 832 17 turbulent turbulent JJ cord-035342-sf0zld5z 832 18 times time NNS cord-035342-sf0zld5z 832 19 ? ? . cord-035342-sf0zld5z 833 1 Evidence evidence NN cord-035342-sf0zld5z 833 2 from from IN cord-035342-sf0zld5z 833 3 the the DT cord-035342-sf0zld5z 833 4 portfolio portfolio NN cord-035342-sf0zld5z 833 5 of of IN cord-035342-sf0zld5z 833 6 Joseph Joseph NNP cord-035342-sf0zld5z 833 7 Frisch Frisch NNP cord-035342-sf0zld5z 833 8 , , , cord-035342-sf0zld5z 833 9 private private JJ cord-035342-sf0zld5z 833 10 banker banker NN cord-035342-sf0zld5z 833 11 ( ( -LRB- cord-035342-sf0zld5z 833 12 1923 1923 CD cord-035342-sf0zld5z 833 13 - - SYM cord-035342-sf0zld5z 833 14 1955 1955 CD cord-035342-sf0zld5z 833 15 ) ) -RRB- cord-035342-sf0zld5z 834 1 Do do VBP cord-035342-sf0zld5z 834 2 foreigners foreigner NNS cord-035342-sf0zld5z 834 3 invest invest VB cord-035342-sf0zld5z 834 4 less less RBR cord-035342-sf0zld5z 834 5 in in IN cord-035342-sf0zld5z 834 6 poorly poorly RB cord-035342-sf0zld5z 834 7 governed govern VBN cord-035342-sf0zld5z 834 8 firms firm NNS cord-035342-sf0zld5z 834 9 ? ? . cord-035342-sf0zld5z 835 1 What what WP cord-035342-sf0zld5z 835 2 is be VBZ cord-035342-sf0zld5z 835 3 the the DT cord-035342-sf0zld5z 835 4 economic economic JJ cord-035342-sf0zld5z 835 5 cost cost NN cord-035342-sf0zld5z 835 6 of of IN cord-035342-sf0zld5z 835 7 the the DT cord-035342-sf0zld5z 835 8 investment investment NN cord-035342-sf0zld5z 835 9 home home NN cord-035342-sf0zld5z 835 10 bias bias NN cord-035342-sf0zld5z 836 1 The the DT cord-035342-sf0zld5z 836 2 home home NN cord-035342-sf0zld5z 836 3 bias bias NN cord-035342-sf0zld5z 836 4 is be VBZ cord-035342-sf0zld5z 836 5 here here RB cord-035342-sf0zld5z 836 6 to to TO cord-035342-sf0zld5z 836 7 stay stay VB cord-035342-sf0zld5z 836 8 Trying try VBG cord-035342-sf0zld5z 836 9 to to TO cord-035342-sf0zld5z 836 10 explain explain VB cord-035342-sf0zld5z 836 11 home home NN cord-035342-sf0zld5z 836 12 bias bias NN cord-035342-sf0zld5z 836 13 in in IN cord-035342-sf0zld5z 836 14 equities equity NNS cord-035342-sf0zld5z 836 15 and and CC cord-035342-sf0zld5z 836 16 consumption consumption NN cord-035342-sf0zld5z 836 17 Confidence confidence NN cord-035342-sf0zld5z 836 18 in in IN cord-035342-sf0zld5z 836 19 the the DT cord-035342-sf0zld5z 836 20 familiar familiar JJ cord-035342-sf0zld5z 836 21 : : : cord-035342-sf0zld5z 836 22 an an DT cord-035342-sf0zld5z 836 23 international international JJ cord-035342-sf0zld5z 836 24 perspective perspective NN cord-035342-sf0zld5z 836 25 Country country NN cord-035342-sf0zld5z 836 26 ) ) -RRB- cord-035342-sf0zld5z 837 1 Home home NN cord-035342-sf0zld5z 837 2 bias bias NN cord-035342-sf0zld5z 837 3 in in IN cord-035342-sf0zld5z 837 4 Italian italian JJ cord-035342-sf0zld5z 837 5 occupational occupational JJ cord-035342-sf0zld5z 837 6 pension pension NN cord-035342-sf0zld5z 837 7 funds fund NNS cord-035342-sf0zld5z 837 8 asset asset NN cord-035342-sf0zld5z 837 9 allocation allocation NN cord-035342-sf0zld5z 837 10 choices choice NNS cord-035342-sf0zld5z 837 11 Liquidity liquidity NN cord-035342-sf0zld5z 837 12 : : : cord-035342-sf0zld5z 837 13 urban urban JJ cord-035342-sf0zld5z 837 14 versus versus IN cord-035342-sf0zld5z 837 15 rural rural JJ cord-035342-sf0zld5z 837 16 firms firm NNS cord-035342-sf0zld5z 837 17 What what WP cord-035342-sf0zld5z 837 18 drives drive VBZ cord-035342-sf0zld5z 837 19 home home NN cord-035342-sf0zld5z 837 20 bias bias NN cord-035342-sf0zld5z 837 21 ? ? . cord-035342-sf0zld5z 838 1 Evidence evidence NN cord-035342-sf0zld5z 838 2 from from IN cord-035342-sf0zld5z 838 3 fund fund NN cord-035342-sf0zld5z 838 4 managers manager NNS cord-035342-sf0zld5z 838 5 ' ' POS cord-035342-sf0zld5z 838 6 views view NNS cord-035342-sf0zld5z 838 7 Hedging Hedging NNP cord-035342-sf0zld5z 838 8 , , , cord-035342-sf0zld5z 838 9 familiarity familiarity NN cord-035342-sf0zld5z 838 10 and and CC cord-035342-sf0zld5z 838 11 portfolio portfolio NN cord-035342-sf0zld5z 838 12 choice choice NN cord-035342-sf0zld5z 839 1 The the DT cord-035342-sf0zld5z 839 2 home home NN cord-035342-sf0zld5z 839 3 - - HYPH cord-035342-sf0zld5z 839 4 institution institution NN cord-035342-sf0zld5z 839 5 bias bias NN cord-035342-sf0zld5z 839 6 International international JJ cord-035342-sf0zld5z 839 7 portfolio portfolio NN cord-035342-sf0zld5z 839 8 choice choice NN cord-035342-sf0zld5z 839 9 , , , cord-035342-sf0zld5z 839 10 liquidity liquidity NN cord-035342-sf0zld5z 839 11 constraints constraint NNS cord-035342-sf0zld5z 839 12 and and CC cord-035342-sf0zld5z 839 13 the the DT cord-035342-sf0zld5z 839 14 home home NN cord-035342-sf0zld5z 839 15 equity equity NN cord-035342-sf0zld5z 839 16 bias bias NN cord-035342-sf0zld5z 839 17 puzzle puzzle NN cord-035342-sf0zld5z 840 1 You -PRON- PRP cord-035342-sf0zld5z 840 2 might may MD cord-035342-sf0zld5z 840 3 not not RB cord-035342-sf0zld5z 840 4 get get VB cord-035342-sf0zld5z 840 5 what what WP cord-035342-sf0zld5z 840 6 you -PRON- PRP cord-035342-sf0zld5z 840 7 need need VBP cord-035342-sf0zld5z 840 8 : : : cord-035342-sf0zld5z 841 1 the the DT cord-035342-sf0zld5z 841 2 discrepancy discrepancy NN cord-035342-sf0zld5z 841 3 between between IN cord-035342-sf0zld5z 841 4 financial financial JJ cord-035342-sf0zld5z 841 5 advice advice NN cord-035342-sf0zld5z 841 6 and and CC cord-035342-sf0zld5z 841 7 commissions commission NNS cord-035342-sf0zld5z 841 8 in in IN cord-035342-sf0zld5z 841 9 Germany Germany NNP cord-035342-sf0zld5z 841 10 Measures Measures NNPS cord-035342-sf0zld5z 841 11 of of IN cord-035342-sf0zld5z 841 12 equity equity NN cord-035342-sf0zld5z 841 13 home home NN cord-035342-sf0zld5z 841 14 bias bias NN cord-035342-sf0zld5z 841 15 puzzle puzzle NN cord-035342-sf0zld5z 841 16 Home Home NNP cord-035342-sf0zld5z 841 17 bias bias NN cord-035342-sf0zld5z 841 18 and and CC cord-035342-sf0zld5z 841 19 cross cross JJ cord-035342-sf0zld5z 841 20 border border NN cord-035342-sf0zld5z 841 21 taxation taxation NN cord-035342-sf0zld5z 841 22 The the DT cord-035342-sf0zld5z 841 23 puzzling puzzling JJ cord-035342-sf0zld5z 841 24 evolution evolution NN cord-035342-sf0zld5z 841 25 of of IN cord-035342-sf0zld5z 841 26 the the DT cord-035342-sf0zld5z 841 27 home home NN cord-035342-sf0zld5z 841 28 bias bias NN cord-035342-sf0zld5z 841 29 , , , cord-035342-sf0zld5z 841 30 information information NN cord-035342-sf0zld5z 841 31 processing processing NN cord-035342-sf0zld5z 841 32 and and CC cord-035342-sf0zld5z 841 33 financial financial JJ cord-035342-sf0zld5z 841 34 openness openness NN cord-035342-sf0zld5z 841 35 Patriotism patriotism NN cord-035342-sf0zld5z 841 36 in in IN cord-035342-sf0zld5z 841 37 your -PRON- PRP$ cord-035342-sf0zld5z 841 38 portfolio portfolio NN cord-035342-sf0zld5z 841 39 Veldkamp Veldkamp NNP cord-035342-sf0zld5z 841 40 L L NNP cord-035342-sf0zld5z 841 41 ( ( -LRB- cord-035342-sf0zld5z 841 42 2010 2010 CD cord-035342-sf0zld5z 841 43 ) ) -RRB- cord-035342-sf0zld5z 842 1 Information information NN cord-035342-sf0zld5z 842 2 acquisition acquisition NN cord-035342-sf0zld5z 842 3 and and CC cord-035342-sf0zld5z 842 4 under under IN cord-035342-sf0zld5z 842 5 - - HYPH cord-035342-sf0zld5z 842 6 diversification diversification NN cord-035342-sf0zld5z 843 1 The the DT cord-035342-sf0zld5z 843 2 six six CD cord-035342-sf0zld5z 843 3 major major JJ cord-035342-sf0zld5z 843 4 puzzles puzzle NNS cord-035342-sf0zld5z 843 5 in in IN cord-035342-sf0zld5z 843 6 international international JJ cord-035342-sf0zld5z 843 7 macroeconomics macroeconomic NNS cord-035342-sf0zld5z 843 8 : : : cord-035342-sf0zld5z 843 9 is be VBZ cord-035342-sf0zld5z 843 10 there there EX cord-035342-sf0zld5z 843 11 a a DT cord-035342-sf0zld5z 843 12 common common JJ cord-035342-sf0zld5z 843 13 cause cause NN cord-035342-sf0zld5z 843 14 ? ? . cord-035342-sf0zld5z 844 1 Portfolio portfolio NN cord-035342-sf0zld5z 844 2 selection selection NN cord-035342-sf0zld5z 844 3 of of IN cord-035342-sf0zld5z 844 4 German german JJ cord-035342-sf0zld5z 844 5 investors investor NNS cord-035342-sf0zld5z 844 6 : : : cord-035342-sf0zld5z 844 7 on on IN cord-035342-sf0zld5z 844 8 the the DT cord-035342-sf0zld5z 844 9 causes cause NNS cord-035342-sf0zld5z 844 10 of of IN cord-035342-sf0zld5z 844 11 home home NN cord-035342-sf0zld5z 844 12 - - HYPH cord-035342-sf0zld5z 844 13 biased bias VBN cord-035342-sf0zld5z 844 14 investment investment NN cord-035342-sf0zld5z 844 15 decisions decision NNS cord-035342-sf0zld5z 845 1 The the DT cord-035342-sf0zld5z 845 2 genesis genesis NN cord-035342-sf0zld5z 845 3 of of IN cord-035342-sf0zld5z 845 4 home home NN cord-035342-sf0zld5z 845 5 bias bias NN cord-035342-sf0zld5z 845 6 ? ? . cord-035342-sf0zld5z 846 1 The the DT cord-035342-sf0zld5z 846 2 location location NN cord-035342-sf0zld5z 846 3 and and CC cord-035342-sf0zld5z 846 4 portfolio portfolio NN cord-035342-sf0zld5z 846 5 choices choice NNS cord-035342-sf0zld5z 846 6 of of IN cord-035342-sf0zld5z 846 7 investment investment NN cord-035342-sf0zld5z 846 8 company company NN cord-035342-sf0zld5z 846 9 start start NN cord-035342-sf0zld5z 846 10 - - HYPH cord-035342-sf0zld5z 846 11 ups up NNS cord-035342-sf0zld5z 846 12 Portfolio Portfolio NNP cord-035342-sf0zld5z 846 13 selection selection NN cord-035342-sf0zld5z 846 14 and and CC cord-035342-sf0zld5z 846 15 asset asset NN cord-035342-sf0zld5z 846 16 pricing pricing NN cord-035342-sf0zld5z 846 17 models model NNS cord-035342-sf0zld5z 846 18 No no DT cord-035342-sf0zld5z 846 19 place place NN cord-035342-sf0zld5z 846 20 like like IN cord-035342-sf0zld5z 846 21 home home NN cord-035342-sf0zld5z 846 22 : : : cord-035342-sf0zld5z 846 23 familiarity familiarity NN cord-035342-sf0zld5z 846 24 in in IN cord-035342-sf0zld5z 846 25 mutual mutual JJ cord-035342-sf0zld5z 846 26 fund fund NN cord-035342-sf0zld5z 846 27 manager manager NN cord-035342-sf0zld5z 846 28 portfolio portfolio NN cord-035342-sf0zld5z 846 29 choice choice NN cord-035342-sf0zld5z 847 1 The the DT cord-035342-sf0zld5z 847 2 home home NN cord-035342-sf0zld5z 847 3 bias bias NN cord-035342-sf0zld5z 847 4 and and CC cord-035342-sf0zld5z 847 5 the the DT cord-035342-sf0zld5z 847 6 credit credit NN cord-035342-sf0zld5z 847 7 crunch crunch NN cord-035342-sf0zld5z 847 8 : : : cord-035342-sf0zld5z 847 9 a a DT cord-035342-sf0zld5z 847 10 regional regional JJ cord-035342-sf0zld5z 847 11 perspective perspective NN cord-035342-sf0zld5z 848 1 The the DT cord-035342-sf0zld5z 848 2 overseas overseas JJ cord-035342-sf0zld5z 848 3 listing listing NN cord-035342-sf0zld5z 848 4 decision decision NN cord-035342-sf0zld5z 848 5 : : : cord-035342-sf0zld5z 848 6 new new JJ cord-035342-sf0zld5z 848 7 evidence evidence NN cord-035342-sf0zld5z 848 8 of of IN cord-035342-sf0zld5z 848 9 proximity proximity NN cord-035342-sf0zld5z 848 10 preference preference NN cord-035342-sf0zld5z 848 11 Home home NN cord-035342-sf0zld5z 848 12 bias bias NN cord-035342-sf0zld5z 848 13 abroad abroad RB cord-035342-sf0zld5z 848 14 : : : cord-035342-sf0zld5z 848 15 domestic domestic JJ cord-035342-sf0zld5z 848 16 industries industry NNS cord-035342-sf0zld5z 848 17 and and CC cord-035342-sf0zld5z 848 18 foreign foreign JJ cord-035342-sf0zld5z 848 19 portfolio portfolio NN cord-035342-sf0zld5z 848 20 choice choice NN cord-035342-sf0zld5z 849 1 Scimago Scimago NNP cord-035342-sf0zld5z 849 2 journal journal NN cord-035342-sf0zld5z 849 3 & & CC cord-035342-sf0zld5z 849 4 country country NN cord-035342-sf0zld5z 849 5 rank rank VBP cord-035342-sf0zld5z 849 6 Individual individual JJ cord-035342-sf0zld5z 849 7 investors investor NNS cord-035342-sf0zld5z 849 8 and and CC cord-035342-sf0zld5z 849 9 local local JJ cord-035342-sf0zld5z 849 10 bias bias NN cord-035342-sf0zld5z 849 11 Patterns pattern NNS cord-035342-sf0zld5z 849 12 of of IN cord-035342-sf0zld5z 849 13 behavior behavior NN cord-035342-sf0zld5z 849 14 of of IN cord-035342-sf0zld5z 849 15 professionally professionally RB cord-035342-sf0zld5z 849 16 managed manage VBN cord-035342-sf0zld5z 849 17 and and CC cord-035342-sf0zld5z 849 18 independent independent JJ cord-035342-sf0zld5z 849 19 investors investor NNS cord-035342-sf0zld5z 849 20 Capital Capital NNP cord-035342-sf0zld5z 849 21 asset asset NN cord-035342-sf0zld5z 849 22 prices price NNS cord-035342-sf0zld5z 849 23 : : : cord-035342-sf0zld5z 849 24 a a DT cord-035342-sf0zld5z 849 25 theory theory NN cord-035342-sf0zld5z 849 26 of of IN cord-035342-sf0zld5z 849 27 market market NN cord-035342-sf0zld5z 849 28 equilibrium equilibrium NN cord-035342-sf0zld5z 849 29 under under IN cord-035342-sf0zld5z 849 30 conditions condition NNS cord-035342-sf0zld5z 849 31 of of IN cord-035342-sf0zld5z 849 32 risk risk NN cord-035342-sf0zld5z 850 1 Do do VBP cord-035342-sf0zld5z 850 2 locals local NNS cord-035342-sf0zld5z 850 3 perform perform VB cord-035342-sf0zld5z 850 4 better well JJR cord-035342-sf0zld5z 850 5 than than IN cord-035342-sf0zld5z 850 6 foreigners foreigner NNS cord-035342-sf0zld5z 850 7 ? ? . cord-035342-sf0zld5z 851 1 An an DT cord-035342-sf0zld5z 851 2 analysis analysis NN cord-035342-sf0zld5z 851 3 of of IN cord-035342-sf0zld5z 851 4 UK UK NNP cord-035342-sf0zld5z 851 5 and and CC cord-035342-sf0zld5z 851 6 US US NNP cord-035342-sf0zld5z 851 7 mutual mutual JJ cord-035342-sf0zld5z 851 8 fund fund NN cord-035342-sf0zld5z 851 9 managers manager NNS cord-035342-sf0zld5z 852 1 Relative relative JJ cord-035342-sf0zld5z 852 2 optimism optimism NN cord-035342-sf0zld5z 852 3 and and CC cord-035342-sf0zld5z 852 4 the the DT cord-035342-sf0zld5z 852 5 home home NN cord-035342-sf0zld5z 852 6 bias bias NN cord-035342-sf0zld5z 852 7 puzzle puzzle NN cord-035342-sf0zld5z 852 8 International international JJ cord-035342-sf0zld5z 852 9 portfolio portfolio NN cord-035342-sf0zld5z 852 10 nondiversification nondiversification NN cord-035342-sf0zld5z 852 11 and and CC cord-035342-sf0zld5z 852 12 exchange exchange NN cord-035342-sf0zld5z 852 13 rate rate NN cord-035342-sf0zld5z 852 14 variability variability NN cord-035342-sf0zld5z 852 15 Understanding understand VBG cord-035342-sf0zld5z 852 16 the the DT cord-035342-sf0zld5z 852 17 equity equity NN cord-035342-sf0zld5z 852 18 home home NN cord-035342-sf0zld5z 852 19 bias bias NN cord-035342-sf0zld5z 852 20 : : : cord-035342-sf0zld5z 852 21 evidence evidence NN cord-035342-sf0zld5z 852 22 from from IN cord-035342-sf0zld5z 852 23 survey survey NN cord-035342-sf0zld5z 852 24 data datum NNS cord-035342-sf0zld5z 852 25 A a DT cord-035342-sf0zld5z 852 26 model model NN cord-035342-sf0zld5z 852 27 of of IN cord-035342-sf0zld5z 852 28 international international JJ cord-035342-sf0zld5z 852 29 asset asset NN cord-035342-sf0zld5z 852 30 pricing pricing NN cord-035342-sf0zld5z 852 31 On on IN cord-035342-sf0zld5z 852 32 the the DT cord-035342-sf0zld5z 852 33 effects effect NNS cord-035342-sf0zld5z 852 34 of of IN cord-035342-sf0zld5z 852 35 barriers barrier NNS cord-035342-sf0zld5z 852 36 to to IN cord-035342-sf0zld5z 852 37 international international JJ cord-035342-sf0zld5z 852 38 investment investment NN cord-035342-sf0zld5z 852 39 Home home NN cord-035342-sf0zld5z 852 40 bias bias NN cord-035342-sf0zld5z 852 41 and and CC cord-035342-sf0zld5z 852 42 high high JJ cord-035342-sf0zld5z 852 43 turnover turnover NN cord-035342-sf0zld5z 852 44 Round round NN cord-035342-sf0zld5z 852 45 - - HYPH cord-035342-sf0zld5z 852 46 the the DT cord-035342-sf0zld5z 852 47 - - HYPH cord-035342-sf0zld5z 852 48 clock clock NN cord-035342-sf0zld5z 852 49 market market NN cord-035342-sf0zld5z 852 50 efficiency efficiency NN cord-035342-sf0zld5z 852 51 and and CC cord-035342-sf0zld5z 852 52 home home NN cord-035342-sf0zld5z 852 53 bias bias NN cord-035342-sf0zld5z 852 54 : : : cord-035342-sf0zld5z 852 55 evidence evidence NN cord-035342-sf0zld5z 852 56 from from IN cord-035342-sf0zld5z 852 57 the the DT cord-035342-sf0zld5z 852 58 international international JJ cord-035342-sf0zld5z 852 59 Japanese japanese JJ cord-035342-sf0zld5z 852 60 government government NN cord-035342-sf0zld5z 852 61 bonds bond NNS cord-035342-sf0zld5z 852 62 futures future NNS cord-035342-sf0zld5z 852 63 markets market NNS cord-035342-sf0zld5z 852 64 How how WRB cord-035342-sf0zld5z 852 65 does do VBZ cord-035342-sf0zld5z 852 66 household household NN cord-035342-sf0zld5z 852 67 portfolio portfolio NN cord-035342-sf0zld5z 852 68 diversification diversification NN cord-035342-sf0zld5z 852 69 vary vary VBP cord-035342-sf0zld5z 852 70 with with IN cord-035342-sf0zld5z 852 71 financial financial JJ cord-035342-sf0zld5z 852 72 literacy literacy NN cord-035342-sf0zld5z 852 73 and and CC cord-035342-sf0zld5z 852 74 financial financial JJ cord-035342-sf0zld5z 852 75 advice advice NN cord-035342-sf0zld5z 852 76 ? ? . cord-035342-sf0zld5z 853 1 Home home NN cord-035342-sf0zld5z 853 2 bias bias NN cord-035342-sf0zld5z 853 3 and and CC cord-035342-sf0zld5z 853 4 high high JJ cord-035342-sf0zld5z 853 5 turnover turnover NN cord-035342-sf0zld5z 853 6 reconsidered reconsider VBN cord-035342-sf0zld5z 853 7 Intranational Intranational NNP cord-035342-sf0zld5z 853 8 Home Home NNP cord-035342-sf0zld5z 853 9 Bias Bias NNP cord-035342-sf0zld5z 853 10 in in IN cord-035342-sf0zld5z 853 11 Trade Trade NNP cord-035342-sf0zld5z 853 12 Dynamic dynamic JJ cord-035342-sf0zld5z 853 13 portfolio portfolio NN cord-035342-sf0zld5z 853 14 choice choice NN cord-035342-sf0zld5z 853 15 and and CC cord-035342-sf0zld5z 853 16 asset asset NN cord-035342-sf0zld5z 853 17 pricing pricing NN cord-035342-sf0zld5z 853 18 with with IN cord-035342-sf0zld5z 853 19 differential differential JJ cord-035342-sf0zld5z 853 20 information information NN cord-035342-sf0zld5z 853 21 See see VB cord-035342-sf0zld5z 853 22 Table Table NNP cord-035342-sf0zld5z 853 23 3 3 CD cord-035342-sf0zld5z 853 24 . . .