East or west, home is best: The birthplace bias of individual investors

Lindblom, Ted; Mavruk, Taylan; Sjögren, Stefan

doi:10.1016/j.jbankfin.2016.10.002

Cited by 33 publications

(10 citation statements)

References 56 publications

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“…Hometown identity, in our research, refers to a psychological bias that individuals tend to make decisions favouring their hometowns due to emotional ties. Some scholars refer home identity as ‘hometown bias’ (Jiang et al, 2019), ‘birthplace bias’ (Lindblom, Mavruk, & Sjögren, 2018) or ‘regional favortism’ (Hodler & Raschky, 2014). Hometown identity relates to the concept of place identity.…”

Section: Related Literature and Hypothesis Developmentmentioning

confidence: 99%

“…Second, individuals are more likely to pursue the interests of their hometown community due to place identity (Carrus et al, 2005). Individuals may feel emotionally attached to their hometowns and may thus consider economic factors and the interests of the hometown group when making decisions (Lindblom et al, 2018). Therefore, hometown identity may activate individuals' pro‐social motivation and drive them to focus on the goal of benefiting other people based on a concern for the welfare of the hometown group.…”

Section: Related Literature and Hypothesis Developmentmentioning

confidence: 99%

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CEO hometown identity and firm green innovation

et al. 2020

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Drawn on the upper echelons theory, this study investigates how chief executive officer (CEO) hometown identity drives firm green innovation. We propose that CEO hometown identity has a positive impact on a firm's green innovation performance. Furthermore, we explore the moderating role of managerial discretion determined by organizational and environmental factors (i.e., institutional ownership and market complexity). We propose that institutional ownership negatively moderates the positive relationship between CEO hometown identity and green innovation, but market complexity plays a positive moderating role. Using Chinese publicly listed firms from 2002 to 2016 in heavily polluting industries, our findings support these hypotheses. Our research contributes to the upper echelons theory and corporate social responsibility literature and has substantial practical implications.

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Section: Related Literature and Hypothesis Developmentmentioning

confidence: 99%

Section: Related Literature and Hypothesis Developmentmentioning

confidence: 99%

CEO hometown identity and firm green innovation

et al. 2020

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“…Secondly, individuals are more inclined to support local causes because of their nationality [54]. Extending this hometown CEO analogy to local versus expatriate CEOs, as a result of emotional ties to their nationality, nonforeign CEOs tend to make decisions based on economic factors and social interests [57]. Thus, nationality may elicit the pro-social incentive of individuals and direct them toward the objective of helping others out of concern for the welfare of their local groups.…”

Section: Ceo Nationality and Corporate Social Responsibility Reportingmentioning

confidence: 99%

CEO Characteristics, Family Ownership and Corporate Social Responsibility Reporting: The Case of Saudi Arabia

et al. 2021

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Only a few studies have investigated the association between the characteristics of the chief executive officer (CEO) (i.e., tenure and local or expatriate) and corporate social responsibility (CSR) reporting. Our study adds to the fledgling literature by providing new evidence from Saudi Arabia. Given the dominance of family control among Saudi Arabian listed firms, additionally, this study examined the moderating effect of family ownership on the CEO-CSR relationship. Using CSR scores from Bloomberg database from 2010 to 2019 and ordinary least squares (OLS) regression, the findings reveal that the association between CEO tenure and CSR reporting is positively significant; however, the association between CEO nationality and CSR is not significant. In addition, the findings indicate that family ownership is an important contingency factor that explains the association between CEO tenure and CEO nationality, and CSR reporting. Our study contributes to an emerging line of CSR research that investigates the effects of foreign CEOs on CSR transparency, and supports prior evidence on the benefits to investors of having long-serving CEO and the costs of family entrenchment.

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“…Consistent with this argument, Lindblom et al (2017) find that native locals (i.e. locals who were born in the district they live in) are almost three times more locally biased than other locals (i.e.…”

Section: Investor Behaviourmentioning

confidence: 54%