The Geography of Investment: Informed Trading and Asset Prices

By Joshua D. Coval, Tobias J. Moskowitz. Journal of Political Economy, 2001

1,890 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/51ce12ffdccc54935d14926433465deaa64438db

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Citations in the corpus

Board Expertise: Do Directors from Related Industries Help Bridge the Information Gap? (2014, positive): “To identify upstream/downstream firms located within this radius, we calculate the distance between the headquarters of the given firm and its related firms; this distance is calculated as by Coval and Moskowitz (2001).”
Media Makes Momentum (2014, background): “…line of research, many recent finance papers have demonstrated that in- vestors, both retail and professional, exhibit a strong preference for local stocks (e.g. Coval and Moskowitz (1999), Coval and Moskowitz (2001), Grinblatt and Keloharju (2001), Huber- man (2001), Seasholes and Zhu (2010)).”
Do Portfolio Distortions Reflect Superior Information or Psychological Biases? (2013, neutral): “15See Coval and Moskowitz (2001), Zhu (2002), and Ivković and Weisbenner (2005) for additional details about the LP measure.”
The Only Game in Town: Stock-Price Consequences of Local Bias (2008, background): “2 See however, Coval and Moskowitz (2001), and Ivkovic and Weisbenner (2004), who demonstrate that investors—both institutions and individuals—earn excess returns from their investments in local stocks.”
The Impact of a Strong Bank-Firm Relationship on the Borrowing Firm (2011, background): “Proximity to at G eorgia Institute of T echnology on June 29, 2015 http://rfs.oxfordjournals.org/ D ow nloaded from the borrower directly affects the bank’s information-gathering and monitoring ability (Coval and Moskowitz 2001; Berger et al. 2005).”
The Impact of Firm Location on Equity Issuance (2008, background): “Coval and Moskowitz (2001) separate mutual fund holdings into local and distant stocks, where local stocks are those with headquarters within 100 kilometers of the mutual fund.”
Melting Pot or Salad Bowl: Some Evidence from U.S. Investments Abroad (2008, neutral): “This does not seem a foolish strategy because they earn substantial abnormal returns in these nearby investments (Coval and Moskowitz (2001).)”
Success in Global Venture Capital Investing: Do Institutional and Cultural Differences Matter? (2014, positive): “The importance of local VC participation is also in line with the extensive literature on “home bias,” which draws similar conclusions in terms of performance of investments made in more familiar local surroundings relative to those in distant geographic areas (see Coval and Moskowitz (2001)).”
The Flight Home Effect: Evidence from the Syndicated Loan Market During Financial Crises (2012, background): “…countries with diverse institutional environments (Chan et al., 2005), within countries because investors exhibit a preference for geographically proximate (domestic) assets (Coval and Moskowitz, 1999, 2001; Grinblatt and Keloharju, 2001), and for different assets including bonds (Butler, 2008).”
Does Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization (2004, neutral): “Following many prior studies, we restrict our analysis to diversified U.S. equity mutual funds by excluding from our sample bond, international, and specialized sector funds.5 For a fund to be in our sample, it must report information on assets under management and monthly returns.”
Geographic Dispersion and Stock Returns (2012, neutral): “Our study of geographic dispersion and stock returns is only one of many potential questions that can be addressed using these type of data 18 See Hoberg and Phillips (2010) for another example of how to use textual information to capture cross-sectional characteristics of firms. in general—and usin”