The literature on the investment technology of foreign versus domestic investors has inconclusive results. This paper revisits the question, with a focus on decomposing portfolio performance into asset allocation and security selection. We document signicant differences in exposure to systematic...

Inspired by the experience of some advanced economies and to enhance creditworthiness, recently a number of emerging market economies adopted rules limiting government deficits, expenditures, or indebtedness. This volume consists of 15 chapters—written by distinguished policy analysts and...

Episodes of rapid credit growth, especially credit booms, tend to end abruptly, typically in the form of financial crises. This paper presents the findings of a comprehensive event study focusing on 99 credit booms. Loose monetary policy stances seem to have contributed to the build-up of credit...

This paper presents a new theory of asset pricing intended to address why other developing country equity markets responded so strongly to the Mexican devaluation, while the world’s major stock markets were unmoved. This phenomenon can be explained if investors follow a two-step portfolio...

Background: Scholarly literature indicates a slow pace at which maritime ports fully embrace digital transformation (DT). The reasons to this are largely anecdotal and lack solid empirical grounding. This inhibits an overall understanding of DT's tenets and the development of evidence-based...

Purpose: This paper examines the relationship between corporate reputation, managerial overconfidence, and the cost of equity in the context of Vietnam - a fast-growing emerging market. Design/methodology/approach: The paper employs Pooled Ordinary Least Square, Fixed Effect Model and Random...