We investigate institutional investor behavior and firm valuation surrounding extreme rainfall conditions in rain-sensitive firms. Using Indian monsoon data and exploiting extreme rainfall conditions as ongoing natural experiments, we show that institutional investors significantly increase...

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...

Economic reasoning suggests that financial globalization that encourages optimal international portfolio investments should improve investor protection standards (IPS) of a country. In practice, however, investors manifest varying degrees of suboptimal international portfolio allocations. Using...