Mishra, Anil V. (2006) Australian investors' home bias in portfolio equity investment. In: 35th Australian Conference of Economists (ACE 2006), 25-27 Sept 2006, Perth, Australia.
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Official URL: http://www.cbs.curtin.edu.au/files/mishra.pdf
This paper employs International Monetary Fund’s high quality cross-border equity holdings dataset to investigate the determinants of home bias puzzle in the Australian context. This paper indicates that the share of destination countries’ stock market that is invested in Australia and transaction costs have significant impact on the home bias puzzle. Capital controls and trade links also impact the home bias puzzle; however their effect is insignificant. This paper also employs World Bank’s governance indicators and other legal variables to investigate the phenomenon of home bias. Information asymmetries arising due to countries’ regulatory and legal environment have significant impact on the home bias puzzle.
|Item Type:||Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)|
|Additional Information:||Author retains copyright.|
|Uncontrolled Keywords:||governance indicators, coordinated portfolio investment survey, rule of law, accounting standards|
|Fields of Research (FOR2008):||14 Economics > 1402 Applied Economics > 140207 Financial Economics|
|Subjects:||340000 Economics > 340200 Applied Economics > 340203 Finance Economics|
|Socio-Economic Objective (SEO2008):||UNSPECIFIED|
|Deposited On:||11 Oct 2007 11:11|
|Last Modified:||27 Sep 2012 10:33|
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