Cross-border equity portfolio choices and the diversification motive: A fractional regression approach

Using a panel fractional regression model to evaluate the determinants of shares of international investment positions, we find some strong empirical support to the claim that a diversification motive is relevant. It turns out that less synchronized economies attract larger portfolio investment shares. The utmost relevance of trade relationships among countries in shaping international investment positions is also confirmed.

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Year of publication:	2013
Authors:	Pericoli, F.M. ; Pierucci, E. ; Ventura, L.
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 121.2013, 2, p. 282-286
Publisher:	Elsevier
Subject:	Portfolio choice \| Risk sharing \| Fractional regression models

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Type of publication:	Article
Classification:	F21 - International Investment; Long-Term Capital Movements ; G11 - Portfolio Choice
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010709083