This paper examines foreign institutional investors' portfolio allocation and performance in U.S. securities. We test how information immobility, proxied by cultural and geographical distance between the investors' home markets and the U.S., influences portfolio strategies. Consistent with...

Since the qualified foreign institutional investors (QFII) entered into China's A-share market officially in 2003, they have made quite abundant profit. Do QFII profit through long-term investment, or seize high quota profit through speculation behavior? This article collects the data of the top...

This paper examines whether firms' auditor choice affects their ability to access foreign equity capital. Using the equity holdings of 34,837 foreign mutual funds from 28 countries, we find evidence that appointing a Big 4 auditor increases the level of foreign mutual fund ownership in firms....

The Indian government gives an open enticement to individuals, companies and other institutions to invest directly or indirectly in India by adopted New Economic Policy in 1991 and they started investing in various financial instruments of money market, capital market, forex market and capital...

Empirical studies document that investors typically deviate significantly from a globally market value weighted portfolio, concentrating their portfolio holdings in securities domiciled in their home country and in familiar foreign markets. Evidence that home country concentration stems from an...

This paper studies the dynamics of FII flows and NSE stock returns in India, during the period 2003-2008. The results of the Granger Causality test and Vector Autoregressive model have confirmed the presence of a significant bi-directional causal relationship between scaled FII flows and the NSE...

From January 2002 to August 2007, foreign institutions held almost 70% of the free-float value of the Indonesian equity market, or 41% of the total market capitalization. Over the same period, liquidity on the Jakarta Stock Exchange improved substantially with the average bid-ask spread more...

Until the 1980s, there was a general disinclination towards foreign investment or private commercial flows as India's development strategy was focused on self-reliance and import substitution and current account deficits were financed largely through debt flows and official development...

Traditional portfolio theory predicts that investors' portfolios should be diversified across international markets. In contrast, empirical studies document that investors are more likely to invest in their home country and in familiar foreign markets. These findings imply that investors do not...

Traditional portfolio theory predicts that investors' portfolios should be diversified across international markets. In contrast, empirical studies document that investors are more likely to invest in their home country and in familiar foreign markets. These findings imply that investors do not...