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International Portfolio Diversification and Multilateral Effects of Correlations

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NBER2012-03-01 更新2025-01-04 收录
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Not only are investors biased toward home assets, but when they do invest abroad, they appear to favor countries with returns more correlated with home assets. Often attributed to a preference for familiarity, this correlation puzzle further reduces effective diversification. However, a multi

创建时间:
2012-03-01
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