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The impact of headquarters location on stock returns | Michala Rudorfer | Taschenbuch | 100 S. | Englisch | 2009 | GRIN Verlag | EAN 9783640316625 | Verantwortliche Person für die EU: BoD - Books on Demand, In de Tarpen 42, 22848 Norderstedt, info[at]bod[dot]de | Anbieter: preigu. Codice articolo 101567892
Diploma Thesis from the year 2007 in the subject Business economics - Investment and Finance, grade: 1,0, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: In a time of tremendous advances in technology, it seems striking why the location of corporate headquarters should matter for the firm's stock return. At first glance, low information and communication costs are thought to facilitate the interaction between market participants all around the world and, thus, deem the role of geographical loca-tion as marginal. This reasoning, however, does not take investors' behavior into ac-count. Even if over the past decades, international capital markets have widely been liberalized and the variety of investment opportunities across countries has grown substantially, many investors do not take the risk reduction potential of foreign assets into considera-tion. Despite the extensive benefits of international diversification, investors still over-weight domestic and local assets in their portfolios. Although this home bias has drawn much academic attention and its existence is commonly accepted, a satisfactory ration-ale could not yet be obtained. Further, the resulting economic implications for asset pricing remain unexplored. Yet, locality could be highly relevant for cost of capital cal-culation, asset allocation and performance evaluation.1 As a result, it is of crucial importance to investigate the relationship between portfolio holdings of investors and stock pricing patterns to shed light on a potential geographical component of asset pricing. The lack of academic research motivates to explore this area in greater detail. The purpose of this thesis is to fill the existing gap and establish a link between local bias and asset pricing. Therefore, a detailed overview of the home bias puzzle as well as of local asset pricing is presented. The economic impact of local bias on stock returns is empirically
Titolo: The impact of headquarters location on stock...
Casa editrice: GRIN Verlag
Data di pubblicazione: 2009
Legatura: Taschenbuch
Condizione: Neu
Da: Majestic Books, Hounslow, Regno Unito
Condizione: New. Print on Demand pp. 100 24:B&W 5.83 x 8.27 in or 210 x 148 mm (A5) Perfect Bound on Creme w/Gloss Lam. Codice articolo 133721085
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Da: Books Puddle, New York, NY, U.S.A.
Condizione: New. pp. 100. Codice articolo 26126866466
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Da: Biblios, Frankfurt am main, HESSE, Germania
Condizione: New. PRINT ON DEMAND pp. 100. Codice articolo 18126866472
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Da: BuchWeltWeit Ludwig Meier e.K., Bergisch Gladbach, Germania
Taschenbuch. Condizione: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -Diploma Thesis from the year 2007 in the subject Business economics - Investment and Finance, grade: 1,0, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: In a time of tremendous advances in technology, it seems striking why the location of corporate headquarters should matter for the firm's stock return. At first glance, low information and communication costs are thought to facilitate the interaction between market participants all around the world and, thus, deem the role of geographical loca-tion as marginal. This reasoning, however, does not take investors' behavior into ac-count.Even if over the past decades, international capital markets have widely been liberalized and the variety of investment opportunities across countries has grown substantially, many investors do not take the risk reduction potential of foreign assets into considera-tion. Despite the extensive benefits of international diversification, investors still over-weight domestic and local assets in their portfolios. Although this home bias has drawn much academic attention and its existence is commonly accepted, a satisfactory ration-ale could not yet be obtained. Further, the resulting economic implications for asset pricing remain unexplored. Yet, locality could be highly relevant for cost of capital cal-culation, asset allocation and performance evaluation.1As a result, it is of crucial importance to investigate the relationship between portfolio holdings of investors and stock pricing patterns to shed light on a potential geographical component of asset pricing. The lack of academic research motivates to explore this area in greater detail. The purpose of this thesis is to fill the existing gap and establish a link between local bias and asset pricing. Therefore, a detailed overview of the home bias puzzle as well as of local asset pricing is presented. The economic 100 pp. Englisch. Codice articolo 9783640316625
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Da: AHA-BUCH GmbH, Einbeck, Germania
Taschenbuch. Condizione: Neu. Druck auf Anfrage Neuware - Printed after ordering - Diploma Thesis from the year 2007 in the subject Business economics - Investment and Finance, grade: 1,0, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: In a time of tremendous advances in technology, it seems striking why the location of corporate headquarters should matter for the firm's stock return. At first glance, low information and communication costs are thought to facilitate the interaction between market participants all around the world and, thus, deem the role of geographical loca-tion as marginal. This reasoning, however, does not take investors' behavior into ac-count.Even if over the past decades, international capital markets have widely been liberalized and the variety of investment opportunities across countries has grown substantially, many investors do not take the risk reduction potential of foreign assets into considera-tion. Despite the extensive benefits of international diversification, investors still over-weight domestic and local assets in their portfolios. Although this home bias has drawn much academic attention and its existence is commonly accepted, a satisfactory ration-ale could not yet be obtained. Further, the resulting economic implications for asset pricing remain unexplored. Yet, locality could be highly relevant for cost of capital cal-culation, asset allocation and performance evaluation.1As a result, it is of crucial importance to investigate the relationship between portfolio holdings of investors and stock pricing patterns to shed light on a potential geographical component of asset pricing. The lack of academic research motivates to explore this area in greater detail. The purpose of this thesis is to fill the existing gap and establish a link between local bias and asset pricing. Therefore, a detailed overview of the home bias puzzle as well as of local asset pricing is presented. The economic. Codice articolo 9783640316625
Quantità: 1 disponibili
Da: buchversandmimpf2000, Emtmannsberg, BAYE, Germania
Taschenbuch. Condizione: Neu. This item is printed on demand - Print on Demand Titel. Neuware -Diploma Thesis from the year 2007 in the subject Business economics - Investment and Finance, grade: 1,0, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: In a time of tremendous advances in technology, it seems striking why the location of corporate headquarters should matter for the firm¿s stock return. At first glance, low information and communication costs are thought to facilitate the interaction between market participants all around the world and, thus, deem the role of geographical loca-tion as marginal. This reasoning, however, does not take investors¿ behavior into ac-count.Even if over the past decades, international capital markets have widely been liberalized and the variety of investment opportunities across countries has grown substantially, many investors do not take the risk reduction potential of foreign assets into considera-tion. Despite the extensive benefits of international diversification, investors still over-weight domestic and local assets in their portfolios. Although this home bias has drawn much academic attention and its existence is commonly accepted, a satisfactory ration-ale could not yet be obtained. Further, the resulting economic implications for asset pricing remain unexplored. Yet, locality could be highly relevant for cost of capital cal-culation, asset allocation and performance evaluation.1As a result, it is of crucial importance to investigate the relationship between portfolio holdings of investors and stock pricing patterns to shed light on a potential geographical component of asset pricing. The lack of academic research motivates to explore this area in greater detail. The purpose of this thesis is to fill the existing gap and establish a link between local bias and asset pricing. Therefore, a detailed overview of the home bias puzzle as well as of local asset pricing is presented. The economic impact of local bias on stock returns is empirically investigated. Thus, the key question of the analysis is whether the location of corporate headquarters has an impact on stock returns attributable to the local bias of investors.Books on Demand GmbH, Überseering 33, 22297 Hamburg 100 pp. Englisch. Codice articolo 9783640316625
Quantità: 1 disponibili
Da: California Books, Miami, FL, U.S.A.
Condizione: New. Codice articolo I-9783640316625
Quantità: Più di 20 disponibili