Information costs and portfolio selection

Srivastava, R K and McInish, T H and Price, L L (1984) Information costs and portfolio selection. Journal of Banking and Finance, 8 (3). pp. 417-429. ISSN 1872-6372

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This paper examines the relationship between perceived information costs and expected returns, expected range of returns, ownership and sources of information for a group of affluent investors in a multi-market setting (across a variety of investments). Findings show that investors expect excess returns and greater risk in areas characterized by high information costs and that ownership is more limited (less diversified) in these investment areas. Additionally, the involvement of certain types of advisors (information sources) substantially increases information costs.

Item Type: Article
Additional Information: The research paper was published by the author with the affiliation of University of Texas.
Subjects: Marketing
Date Deposited: 03 May 2019 10:01
Last Modified: 10 Jul 2023 11:25

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