Abreu, Margarida; Mendes, Victor; Santos, João A.C. - In: Journal of Banking & Finance 35 (2011) 9, pp. 2330-2340
This paper investigates the dynamics of individuals' investments leading up to their decision to make the first investment abroad. We show that investors first invest in domestic securities and only some time later they invest abroad in foreign securities. We also show that investors who trade...