Does home bias persist? The effect of funder experience on home bias
Abstract
Increasing geographical distance has been shown to reduce consumers' and investors’ likelihood of purchasing or investing in specific products or services. It is less understood whether such distance sensitivity persists when consumers and investors gain experience. Using a panel dataset covering 6,624 investors and 54,673 investments within reward- and lending-based crowdfunding, we find that funder experience positively moderates the negative effect of distance in both forms of crowdfunding.
Fields of Study & Subjects
Financial Literacy
Pension
Retirement Analysis
Publication details
- Journal / source
- Journal of Business Research
- Publisher
- Elsevier BV
- Volume
- 212
- Pages
- 116222–116222
- Publication date
- 21 April 2026
- Language
- EN