Mishra, Anil V. (2007) International investors' home bias in portfolio equity investment. In: 14th Global Finance Conference, 1-4 April 2007, Melbourne.
This paper utilizes International Monetary Fund’s high quality dataset over the period from 2001 to 2004, to investigate the determinants of home bias in the international context. This paper contributes to the existing literature by using float adjusted measure of home bias for 38 countries. Information asymmetries arising due to countries’ regulatory and legal environment have significant impact on home bias.Foreign listing is found to alleviate home bias. International investors exhibit a preference for nearby and same language countries.Capital controls, trade links and risk adjusted returns are found to significantly affect equity home bias. Transaction costs do not have a significant impact on the equity home bias.
|Item Type:||Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)|
|Additional Information:||No evidence of copyright restrictions on web site.|
|Uncontrolled Keywords:||governance indicators; coordinated portfolio investment survey; float world market portfolio|
|Subjects:||340000 Economics > 340200 Applied Economics > 340203 Finance Economics
340000 Economics > 340200 Applied Economics > 340206 International Economics and International Finance
|Depositing User:||Dr Anil Mishra|
|Date Deposited:||11 Oct 2007 00:58|
|Last Modified:||02 Jul 2013 22:42|
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