Foreign diversification has a long history in financial economics. In this paper, we re-examine this issue with foreign companies that are listed on US exchanges, combining features of three different literatures. One literature suggests that domestic portfolios including cross-listed stocks can...

International capital markets have become more integrated over the past twenty years. In this paper, I ask what this integration and its resulting higher correlation would imply about international diversification potential using returns from foreign market indices and foreign stocks that are...

We develop an international financial market model in which domestic and foreign residents differ in their beliefs about the information content in public signals. We determine how informational advantages by domestic investors in the interpretation of home public signals impact equity markets....

We develop an international financial market model in which domestic and foreign residents differ in their beliefs about the information content in public signals. We determine how informational advantages by domestic investors in the interpretation of home public signals impact equity markets....

We develop an international financial market model in which domestic and foreign residents differ in their beliefs about the information content in public signals.We determine how informational advantages by domestic investors in the interpretation of home public signals impact equity markets....

We develop an international financial market model in which domestic and foreign residents differ in their beliefs about the information content in public signals. We determine how informational advantages by domestic investors in the interpretation of home public signals impact equity markets....