The conversations surrounding corporate social responsibility ("CSR") in international investments often involve framing the discussions from the FDI lens. This Article aims to add another dimension to the discussion: the consideration of the sovereign-driven portfolio investment (in contrast to...

We study the role of bilateral political relations in explaining variations in the equity portfolio allocation of foreign institutional investors. Using a large micro sample at the fund-firm-year level, we find that when the relations between two countries become more distant, institutional...