Country-specific equity market characteristics and foreign equity portfolio allocation
| dc.contributor.author | Thapa, Chandra | - |
| dc.contributor.author | Poshakwale, Sunil S. | - |
| dc.date.accessioned | 2012-01-30T23:03:14Z | |
| dc.date.available | 2012-01-30T23:03:14Z | |
| dc.date.issued | 2012-03-01T00:00:00Z | - |
| dc.description.abstract | Do country-specific equity market characteristics explain variations in foreign equity portfolio allocation? We study this question using comprehensive foreign equity portfolio holdings data and different measures of country-specific equity market factors for 36 host countries. Employing panel data econometric estimations, our investigation shows that foreign investors prefer to invest more in larger and highly visible developed markets which are more liquid, exhibit a higher degree of market efficiency and have lower trading costs. The findings imply that by improving the preconditions necessary for well- functioning capital markets, policymakers should be able to attract higher levels of foreign equity portfolio investments. | en_UK |
| dc.identifier.citation | Chandra Thapa, Sunil S. Poshakwale, Country-specific equity market characteristics and foreign equity portfolio allocation, Journal of International Money and Finance, Volume 31, Issue 2, March 2012, Pages 189–211 | |
| dc.identifier.issn | 0261-5606 | - |
| dc.identifier.uri | http://dx.doi.org/10.1016/j.jimonfin.2011.10.011 | - |
| dc.identifier.uri | http://dspace.lib.cranfield.ac.uk/handle/1826/6909 | |
| dc.language.iso | en_UK | - |
| dc.publisher | Elsevier Science B.V., Amsterdam. | en_UK |
| dc.rights | NOTICE: this is the author’s version of a work that was accepted for publication in Journal of International Money and Finance. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of International Money and Finance, Volume 31, Issue 2, March 2012, Pages 189–211. http://dx.doi.org/10.1016/j.jimonfin.2011.10.011 | |
| dc.title | Country-specific equity market characteristics and foreign equity portfolio allocation | en_UK |
| dc.type | Article | - |