Government-controlled investors, including state-owned enterprises and sovereign wealth funds, have greatly expanded their international activities in recent years. This paper describes the existing policy landscape of international investments by government-controlled investors under both...

Because of market failures, domestic investment resources are often insufficient to fully finance the public and private capital formation critical to global wealth preservation and growth. It is thus important to understand the factors that drive cross-border investments, including the...

We find that foreign institutional investors (FIIs) reduce their investee firms’ tax avoidance. We provide evidence that the effect is driven by the institutional distance between FIIs’ home countries/regions and host countries/regions. Specifically, we find that the effect is driven by the...