Home away from home: Geography of information and local investors

• Main Authors: BERNILE, Gennaro, KUMAR, Alok, SULAEMAN, Johan
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2015
• Subjects: Multi-Dimensional Firm Location; Information Asymmetry; Local Informational Advantage; Corporate Finance; Finance and Financial Management
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/3777; https://ink.library.smu.edu.sg/context/lkcsb_research/article/4776/viewcontent/Homeaway_av.pdf
• Institution: Singapore Management University

We develop a 10K-based measure of spatial variation in the availability of value-relevant information that reflects the multi-dimensional nature of firm location. Spatially distributed information generates location-based information asymmetries that affect institutional portfolio decisions and perf...