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We study how investor's persistent preference to invest more in the home market — “home bias” — is affecting investor … climate risk. This paper analyzes the carbon exposure and home bias of stock portfolios across a wide range of different … area investors are related to home bias. The bias to invest more in carbon-intensive firms from the domestic and EU …
Persistent link: https://www.econbiz.de/10012830456
We investigate the extent to which investors exhibit carbon home bias: disproportionate investment in carbon … relationship between carbon home bias, divestment and disclosure. We show that investors exhibit significant carbon home bias, with … home bias is not driven by differential home-foreign carbon risk premia, but instead suggest investors’ successful …
Persistent link: https://www.econbiz.de/10014349709
-level internationalization and call into question whether investing in domestic stock indices actually leads to home bias. We use three measures … that investors who invest in their domestic market do not necessarily suffer from home bias. Instead, investing in domestic … stock indices more likely prevents investors from a home bias instead of entrapping them to insufficient portfolios …
Persistent link: https://www.econbiz.de/10012987190
Over 70 academic papers attempt to explain why foreigners invest in US securities. All ignore the vital role of the US broker-dealer. Macroeconomic factors like a trade balance or corporate governance may guide foreign investors toward certain markets. But US broker-dealers provide information...
Persistent link: https://www.econbiz.de/10010515955
pervasiveness of home equity bias depend on the degree of investor protection. Additionally, we uncover a good country bias in … stocks consistent with the predictions of the model. -- Home Equity Bias ; Portfolio Choice ; Limited Participation …
Persistent link: https://www.econbiz.de/10009502217
Passive investing, particularly in emerging markets, has become an increasingly popular means of quick, “diversified” exposure to a particular segment of the markets. Flows into passive emerging market products have been so strong that assets in exchange-traded funds (ETFs) designed to...
Persistent link: https://www.econbiz.de/10013010019
We show that the local bias in US mutual fund portfolios varies significantly over time and is more pronounced at times … of heightened market uncertainty, such as during financial crises. Similarly, local bias is less pronounced in periods … explaining the dependence of local bias on market conditions, and that our evidence is more consistent with a behavioral …
Persistent link: https://www.econbiz.de/10013066388
Persistent link: https://www.econbiz.de/10012627887
This study affirms the negative relationship between corruption and real estate investment flows using a comprehensive set of cross-border commercial real estate investment data from 2001 to 2014. We find non-information explanations for foreign investments in corrupt countries. Foreign...
Persistent link: https://www.econbiz.de/10012950975
Persistent link: https://www.econbiz.de/10011811758