This paper examines foreign institutional investors' portfolio allocation and performance in US securities. We test how information immobility, proxied by cultural and geographical distance between the investors' home markets and the US, influences portfolio strategies. Consistent with...

This paper examines foreign institutional investors' portfolio allocation and performance in U.S. securities. We test how information immobility, proxied by cultural and geographical distance between the investors' home markets and the U.S., influences portfolio strategies. Consistent with...

This paper examines institutions' portfolio allocation and performance in US securities. We test how information immobility, proxied by market correlation and cultural and geographical distance between the investors' home markets and the US, influences portfolio strategies. Consistent with...