This paper examines foreign investors' equity-level transactions in an emerging stock market, the Istanbul Stock Exchange, for the period 1997–2008 to derive insights into the debate on information asymmetries between domestic and foreign investors and the home bias puzzle. The analysis...

Distinguishing two components of the preference for geographical proximity – the domestic country bias assessing investors' holdings within the domestic market, and the foreign country bias assessing investors' bilateral holdings within a particular host, I document a number of stylized facts...

This paper implements a parsimonious and practical methodology to examine the diversification potential of international equity portfolios. The analysis shows that the Portfolio Diversification Index (Rudin, A.M., and Morgan, J.S., Journal of Portfolio Management [2006]) efficiently replicates a...

The objective of this paper is to examine Turkish investors' foreign asset holdings from the perspective of both the “international portfolio diversification” and the “home bias” literature using asset holdings data from the IMF's “Coordinated Portfolio Investment Survey” (CPIS). For...

I provide an analysis of the home bias in international equity investments using data for the year-end 2006. Distinguishing two components of the local equity preference – the “domestic country bias” indicating whether local investors overinvest the domestic market, and the “foreign...