Showing 1 - 10 of 25,984
In this work, we study the strategies driving cross-border sovereign wealth fund (SWF) investments worldwide. In particular, we investigate how SWFs internationalize their activities, studying whether the use of investment vehicles as signal of passive investment approach to access foreign...
Persistent link: https://www.econbiz.de/10013004732
Il lavoro analizza le dinamiche di investimento dei fondi sovrani per paese e per settore nell'arco dell'ultimo ventennio. Il patrimonio gestito dai fondi sovrani è passato da 500 miliardi di dollari nel 1995 a 4,7 trilioni a fine 2011. Sulla base di un dataset specificamente creato, relativo a...
Persistent link: https://www.econbiz.de/10013082458
Persistent link: https://www.econbiz.de/10003794604
This paper examines how the financial globalization affects international equity mutual funds' portfolio choices in emerging markets. By examining the monthly holdings of 155 international funds, we first show that these funds actively engage in a rebalancing strategy to maintain their risk...
Persistent link: https://www.econbiz.de/10012954032
We show that global asset reallocations of U.S. fund investors obey a strong factor structure, with two factors accounting for more than 90% of the overall variation. The first factor captures switches between U.S. bonds and equities. The second reflects reallocations from U.S. to international...
Persistent link: https://www.econbiz.de/10013025588
We show that global asset reallocations of U.S. fund investors obey a strong factor structure, with two factors accounting for more than 90% of the overall variation. The first factor captures switches between U.S. bonds and equities. The second reflects reallocations from U.S. to international...
Persistent link: https://www.econbiz.de/10013025606
Recent academic studies have shown that since the mid-nineties, the pass-through of exogenous oil shocks into headline inflation has been increasing while the pass through into core inflation seems to have ceased. This paper explores the implications in terms of commodity allocation for...
Persistent link: https://www.econbiz.de/10013091277
Although the literature on the benefits of diversifying equity portfolios to emerging markets is abundant, the role of frontier markets in global equity portfolio diversification is clearly less examined. We contribute to the existing literature by examining three different, though closely...
Persistent link: https://www.econbiz.de/10014233132
Using a simple sign test, we report new empirical evidence, taken from both the US and the German stock markets, showing that trading behavior substantially changed around Black Monday in 1987. It turned out that before Black Monday investors behaved more as in the momentum strategy; and after...
Persistent link: https://www.econbiz.de/10011486252
We explore the link between international stock market comovement and the degree to which firms operate globally. Using stock returns and balance sheet data for companies in 20 countries, we estimate a factor model that decomposes stock returns into global, country-specific and industry-specific...
Persistent link: https://www.econbiz.de/10012991324