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Owner-Managers’ Equity Portfolio Choice

Some studies have shown that managers concentrate large fractions of their wealth in the equity of their own firm. In this paper we use a unique dataset and investigate how Swedish owner-managers invest remaining wealth conditional on a major investment in their own firm. We find no[JR1] evidence that owner-managers seek diversification benefits when they invest remaining wealth. Instead some owner-managers invest remaining wealth in the industry where they already have a substantial capital investment. We conclude that some owner-managers seek to exploit their industry-specific superior information when they invest wealth not tied up in their own firms. / <p>QC 20130515</p>

Identiferoai:union.ndltd.org:UPSALLA1/oai:DiVA.org:kth-122243
Date January 2006
CreatorsRåsbrant, Jonas, Holmén, Martin
PublisherKTH, Industriell dynamik (Stängd 20130101), Göteborgs universitet
Source SetsDiVA Archive at Upsalla University
LanguageEnglish
Detected LanguageEnglish
TypeArticle in journal, info:eu-repo/semantics/article, text
Formatapplication/pdf
Rightsinfo:eu-repo/semantics/openAccess
RelationCorporate Ownership & Control, 1727-9232, 2006, 4:1, s. 37-48

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