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  • Access to information and international portfolio allocation

    Author(s)
    Thapa, Chandra
    Paudyal, Krishna
    Neupane, Suman
    Griffith University Author(s)
    Neupane, Suman
    Year published
    2013
    Metadata
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    Abstract
    We examine whether foreign equity holdings of portfolio investors depend on the level of information accessibility between the investors' home and host countries. Using a comprehensive data set, alternative measures of information accessibility and robust analytical techniques, we show that differences in access to cross-country information significantly influence investors' portfolio allocation decisions. Furthermore, the results suggest that for a given level of access to information, investors prefer to invest more in countries with a higher quality of legal/macro-institutions. Finally, the findings also confirm that the ...
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    We examine whether foreign equity holdings of portfolio investors depend on the level of information accessibility between the investors' home and host countries. Using a comprehensive data set, alternative measures of information accessibility and robust analytical techniques, we show that differences in access to cross-country information significantly influence investors' portfolio allocation decisions. Furthermore, the results suggest that for a given level of access to information, investors prefer to invest more in countries with a higher quality of legal/macro-institutions. Finally, the findings also confirm that the implications of information accessibility are more pronounced when markets are turbulent.
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    Journal Title
    Journal of Banking and Finance
    Volume
    37
    Issue
    7
    DOI
    https://doi.org/10.1016/j.jbankfin.2013.01.011
    Subject
    Finance
    Applied Mathematics
    Economic Theory
    Banking, Finance and Investment
    Publication URI
    http://hdl.handle.net/10072/55790
    Collection
    • Journal articles

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