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dc.contributor.authorGarcia, Diego
dc.contributor.authorNorli, Øyvind
dc.date.accessioned2012-12-11T13:25:55Z
dc.date.available2012-12-11T13:25:55Z
dc.date.issued2012
dc.identifier.issn1879-2774 (e-utg)
dc.identifier.urihttp://hdl.handle.net/11250/93706
dc.descriptionThis is the authors’ final, accepted and refereed manuscript to the articleno_NO
dc.description.abstractThis paper shows that stocks of truly local firms have returns that exceed the return on stocks of geographically dispersed firms by 70 basis points per month. By extracting state name counts from annual reports filed with the Securities and Exchange Commission (SEC) on Form 10-K, we distinguish firms with business operations in only a few states from firms with operations in multiple states. Our findings are consistent with the view that lower investor recognition for local firms results in higher stock returns to compensate investors for insufficient diversification.no_NO
dc.language.isoengno_NO
dc.publisherElsevierno_NO
dc.subjectGeographyno_NO
dc.subjectGeographic dispersionno_NO
dc.subjectLocationno_NO
dc.subjectLocalno_NO
dc.subjectStock returnsno_NO
dc.titleGeographic dispersion and stock returnsno_NO
dc.typeJournal articleno_NO
dc.typePeer reviewedno_NO
dc.source.pagenumber547-565no_NO
dc.source.volume106no_NO
dc.source.journalJournal of Financial Economicsno_NO
dc.source.issue3no_NO
dc.identifier.doihttp://dx.doi.org/10.1016/j.jfineco.2012.06.007


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