Cai, Fang; Warnock, Francis E. - In: Finance Research Letters 9 (2012) 1, pp. 8-20
multinationals, in particular, provide significant foreign exposure. We also find that, although the average US investor is less … tilted toward domestic multinationals, institutional investors do overweight domestic firms that are more internationally … oriented. ‘Indirect’ foreign holdings through domestic multinationals are shown to be substantial; combining them with reported …