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Individualism and sensitivity of investment to stock prices: evidence from emerging markets
Chui et al. (2010) argue that cultures with high levels of individualism are defined by overconfidence and self-attribution bias. Markus and Kitayama (1991) and Heine et al. (1999) note that these biases lead to less efficient stock prices with excess volatility. Foucault and Frésard (2012) show tha...
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AUC Knowledge Fountain
2015
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