{"id":"https://openalex.org/W2051174554","doi":"https://doi.org/10.1111/j.1540-6288.2012.00335.x","title":"Individuals and Their Local Utility Stocks: Preference for the Familiar","display_name":"Individuals and Their Local Utility Stocks: Preference for the Familiar","publication_year":2012,"publication_date":"2012-07-06","ids":{"openalex":"https://openalex.org/W2051174554","doi":"https://doi.org/10.1111/j.1540-6288.2012.00335.x","mag":"2051174554"},"language":"en","primary_location":{"id":"doi:10.1111/j.1540-6288.2012.00335.x","doi":"https://doi.org/10.1111/j.1540-6288.2012.00335.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1540-6288.2012.00335.x","pdf_url":null,"source":{"id":"https://openalex.org/S9351053","display_name":"Financial Review","issn_l":"0732-8516","issn":["0732-8516","1540-6288"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5044997393","display_name":"John R. Nofsinger","orcid":"https://orcid.org/0000-0003-0048-4458","observed_orcids":["https://orcid.org/0000-0003-0048-4458"]},"institutions":[{"id":"https://openalex.org/I72951846","display_name":"Washington State University","ror":"https://ror.org/05dk0ce17","country_code":"US","type":"education","lineage":["https://openalex.org/I72951846"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"John R. Nofsinger","raw_affiliation_strings":["Washington State University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Washington State University","institution_ids":["https://openalex.org/I72951846"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5004640128","display_name":"Abhishek Varma","orcid":"https://orcid.org/0000-0002-0773-2859","observed_orcids":["https://orcid.org/0000-0002-0773-2859"]},"institutions":[{"id":"https://openalex.org/I47301684","display_name":"Illinois State University","ror":"https://ror.org/050kcr883","country_code":"US","type":"education","lineage":["https://openalex.org/I47301684"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Abhishek Varma","raw_affiliation_strings":["Illinois State University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Illinois State University","institution_ids":["https://openalex.org/I47301684"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5004640128"],"corresponding_institution_ids":["https://openalex.org/I47301684"],"apc_list":{"value":2900,"currency":"USD","value_usd":2900},"apc_paid":null,"fwci":1.5901,"has_fulltext":false,"cited_by_count":25,"citation_normalized_percentile":{"value":0.8802311,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":98},"biblio":{"volume":"47","issue":"3","first_page":"423","last_page":"443"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9945999979972839,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.002099999925121665,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.0010000000474974513,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/local-bias","display_name":"local bias","score":0.574999988079071},{"id":"https://openalex.org/keywords/familiarity-bias","display_name":"familiarity bias","score":0.6510000228881836},{"id":"https://openalex.org/keywords/investor-preferences","display_name":"investor preferences","score":0.515999972820282},{"id":"https://openalex.org/keywords/dividend-yield","display_name":"dividend yield","score":0.6359999775886536},{"id":"https://openalex.org/keywords/investor-sophistication","display_name":"investor sophistication","score":0.6340000033378601},{"id":"https://openalex.org/keywords/prosperity","display_name":"prosperity","score":0.7620000243186951},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.5799999833106995}],"concepts":[{"id":"https://openalex.org/C2781249084","wikidata":"https://www.wikidata.org/wiki/Q908656","display_name":"Preference","level":2,"score":0.8046740293502808},{"id":"https://openalex.org/C168725872","wikidata":"https://www.wikidata.org/wiki/Q991663","display_name":"Sophistication","level":2,"score":0.7741082906723022},{"id":"https://openalex.org/C2776269092","wikidata":"https://www.wikidata.org/wiki/Q1611074","display_name":"Residence","level":2,"score":0.6708437204360962},{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.5509665012359619},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5362856388092041},{"id":"https://openalex.org/C2992151728","wikidata":"https://www.wikidata.org/wiki/Q474883","display_name":"Water utility","level":3,"score":0.5066340565681458},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3964800238609314},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.37791210412979126},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.14647120237350464},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.057827770709991455},{"id":"https://openalex.org/C4249254","wikidata":"https://www.wikidata.org/wiki/Q3044431","display_name":"Demographic economics","level":1,"score":0.053896427154541016},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C87717796","wikidata":"https://www.wikidata.org/wiki/Q146326","display_name":"Environmental engineering","level":1,"score":0.0},{"id":"https://openalex.org/C97053079","wikidata":"https://www.wikidata.org/wiki/Q1061108","display_name":"Water supply","level":2,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/j.1540-6288.2012.00335.x","doi":"https://doi.org/10.1111/j.1540-6288.2012.00335.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1540-6288.2012.00335.x","pdf_url":null,"source":{"id":"https://openalex.org/S9351053","display_name":"Financial Review","issn_l":"0732-8516","issn":["0732-8516","1540-6288"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial Review","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:bla:finrev:v:47:y:2012:i:3:p:423-443","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1111/j.1540-6288.2012.00335.x","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[{"id":"https://openalex.org/study-designs/observational-study","display_name":"Observational Study"}],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":24,"referenced_works":["https://openalex.org/W1967872601","https://openalex.org/W1995834279","https://openalex.org/W2014582665","https://openalex.org/W2041615603","https://openalex.org/W2043619364","https://openalex.org/W2060352179","https://openalex.org/W2097036717","https://openalex.org/W2101556903","https://openalex.org/W2117728121","https://openalex.org/W2122120003","https://openalex.org/W2136120210","https://openalex.org/W2155369257","https://openalex.org/W2156545174","https://openalex.org/W2157323155","https://openalex.org/W2170815702","https://openalex.org/W2280131726","https://openalex.org/W3023582314","https://openalex.org/W3121184376","https://openalex.org/W3122260906","https://openalex.org/W3122442489","https://openalex.org/W3122890729","https://openalex.org/W3122935004","https://openalex.org/W3124506475","https://openalex.org/W3125388642"],"related_works":["https://openalex.org/W2294072339","https://openalex.org/W7095376195","https://openalex.org/W2041615603","https://openalex.org/W3023582314","https://openalex.org/W2058004664","https://openalex.org/W3212097527","https://openalex.org/W2155369257","https://openalex.org/W2913192684","https://openalex.org/W2979225550","https://openalex.org/W1480126689"],"abstract_inverted_index":{"Abstract":[0],"We":[1],"find":[2],"individuals":[3,33],"are":[4],"four":[5],"times":[6],"more":[7],"likely":[8],"to":[9,20,54],"purchase":[10],"stocks":[11,52],"of":[12,27,66],"their":[13,25,42,49],"local":[14,43,50,81],"direct":[15],"utility":[16,21,51],"company":[17],"as":[18],"opposed":[19],"companies":[22],"operating":[23],"outside":[24],"state":[26],"residence.":[28],"Our":[29],"tests":[30],"reveal":[31],"that":[32],"do":[34,78],"not":[35,79],"possess":[36],"superior":[37],"or":[38],"private":[39],"information":[40],"about":[41],"utilities.":[44],"Indeed,":[45],"individual":[46],"preference":[47,58],"for":[48,59,69],"seems":[53],"be":[55],"driven":[56],"by":[57],"familiar":[60],"assets,":[61],"even":[62],"in":[63],"the":[64],"presence":[65],"a":[67],"desire":[68],"high":[70],"dividend":[71],"yields.":[72],"In":[73],"addition,":[74],"affluence":[75],"and":[76],"sophistication":[77],"reduce":[80],"bias.":[82]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":2},{"year":2017,"cited_by_count":4},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}
