论文名称：TheGeographyofInformationAcquisition

作者：Chen,HH;屈源育;Shen,T;Wang,QH;Xu,DX

刊名：JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS

发表时间：2022.09

Using detailed data on company visits by Chinese mutual funds, we provide direct evidenceof mutual fund information acquisition activities and the consequent informational advan-tages mutual funds establish in local firms. Mutual funds are more likely to visit local andnearby firms both in and outside of their portfolios, but the ease of travel between fund andfirm locations can substantially alleviate geographic distance constraints. Company visits bymutual funds are strongly associated with both fund trading activities and fund tradingperformance. Our results show that geographic constraints and costly information acquisi-tion amplify information asymmetry in financial markets.