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Home bias, transactions costs, and prospects for the Euro : a more detailed analysis
Mann, Catherine L.; Meade, Ellen E. - 2002
This paper brings together the literature on determination of home bias in equity holdings and the portfolio balance … influence on US portfolio holdings, even after accounting for float market share. In addition, new survey evidence on the equity … holdings of European firms indicates home bias for European investors, and points to a reduction in the magnitude of this home …
Persistent link: https://www.econbiz.de/10010503711
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Home bias, transactions costs, and prospects for the Euro: A more detailed analysis
Mann, Catherine L.; Meade, Ellen E. - 2002
This paper brings together the literature on determination of home bias in equity holdings and the portfolio balance … influence on US portfolio holdings, even after accounting for float market share. In addition, new survey evidence on the equity … holdings of European firms indicates home bias for European investors, and points to a reduction in the magnitude of this home …
Persistent link: https://www.econbiz.de/10010301750
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Investor protection and the demand for equity
Giannetti, Mariassunta; Koskinen, Yrjö - 2004 - Rev. February 23, 2004
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
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Selective swap arrangements and the global financial crisis : analysis and interpretation
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines of 30 billion dollars to four emerging markets, and the proliferation of other cross-countries selective swap arrangements. This paper explores the logic for these...
Persistent link: https://www.econbiz.de/10003854615
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Selective swap arrangements and the global financial crisis : analysis and interpretation
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines of 30 billion dollars to four emerging markets, and the proliferation of other cross-countries selective swap arrangements. This paper explores the logic for these...
Persistent link: https://www.econbiz.de/10003840319
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Sensitivity of Emerging Market Bond Fund Flows to US Monetary Stance and Global Risk Aversion
Leung, David - 2019
This note ranks the sensitivities of emerging market economies' (EMEs') bond fund flows to changes in the US monetary stance and global risk aversion. Based on the sensitivities, we draw heat maps to indicate the economies that are more likely to suffer large outflows. We find that bond fund...
Persistent link: https://www.econbiz.de/10012872074
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America First? : a US-centric view of global capital flows
McQuade, Peter; Schmitz, Martin - 2019
Both academic researchers and policymakers posit a unique role for the US in the inter-national financial system. This paper investigates the characteristics and determinants of US cross-border financial flows and examines how these contrast with those of the rest of the world. We analyse the...
Persistent link: https://www.econbiz.de/10011975553
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Decomposing the U.S. External Returns Differential
Curcuru, Stephanie E. - 2010
We decompose the returns differential between U.S. portfolio claims and liabilities into the composition, return, and timing effects. Our most striking and robust finding is that foreigners exhibit poor timing when reallocating between bonds and equities within their U.S. portfolios. The poor...
Persistent link: https://www.econbiz.de/10013150847
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The Liability of Foreignness in International Equity Investments : Evidence from the U.S. Stock Market
Baik, Bok - 2013
Using foreign institutional ownership data in the U.S. from 1990 to 2007, we examine whether foreign institutional investors face liabilities of foreignness (LOF) in the U.S. stock market. We find that foreign institutional investors prefer low information asymmetry stocks more than domestic...
Persistent link: https://www.econbiz.de/10013085902
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Taking the Long Way Home : U.S. Tax Evasion and Offshore Investments in U.S. Equity and Debt Markets
Hanlon, Michelle - 2013
We empirically investigate one form of illegal investor-level tax evasion and its effect on foreign portfolio investment. In particular, we examine a form of round-tripping tax evasion in which U.S. individuals hide funds in entities located in offshore tax havens and then invest those funds in...
Persistent link: https://www.econbiz.de/10013092518