This study researches the impacts of foreign portfolio flows (proxied by foreign investors' retention share) and monetary policy responses (proxied by the repurchase interest rate) on Turkey's stock market index taking the COVID-19 pandemic into consideration. A volatility index, credit default...

This study discovers the relation between corporate governance factors and earnings quality and finds that increases in dividends and foreign ownership deter earnings management. The author shows that dividend increases and foreign ownership enhance earnings quality, but they appear to be...

The redistribution of resources in global stock markets is prevalent: the capital is transferred from one investor to another. Sometimes, earning a substantial return in the stock market seems complicated to implement for an individual investor. Investing contributes to the welfare of society...

Purpose This study investigates the effect of global and domestic uncertainty on the dynamics of portfolio investment in 21 economies (mostly advanced and larger emerging economies) from 2001-2016. Design/methodology/approach Specifically, the evolution of the net portfolio equity investment...

Given the declining volumes of Foreign Portfolio Investments (FPI) in Africa, the study sought to examine the moderating role institutional quality (INST) plays in the relationship between country-level corporate governance (CG) and FPI in Sub-Saharan Africa. This is motivated by arguments from...

We consider a new dataset that provides a description of the population of financial equity flows between developed countries from 2001 to 2018. We follow the standard practice of controlling for pull and push factors as well as gravity-style variables, while also accounting for the business...

We analyze spillovers of financial conditions on international portfolio bond flows. We document significant US financial conditions spillovers using data from developed and emerging countries. To disentangle the nature of spillovers, we rely on panel spatial autoregressive models, and third...

Using a proprietary dataset from 2016 to 2019, we find that order flows from foreign investors, facilitated by regulatory liberalization through several channels, present strong predictive power for future stock returns in the Chinese market. Most surprisingly, foreign investors possess the...

In this paper, we present novel data from the German-speaking area on 13,422 venture capital investments between 1999 and 2019, and document a novel and yet unexplained contributor to investors' home bias. We propose a new measure of regional identity based on a recent vehicle license plate...

In December 2021, international commodity prices increased sharply, the US Consumer Price Index (CPI) increased by 7% year-on-year while the CPI of euro area increased by 5% year-on-year. In China, the CPI increased by 2.3% year-on-year, the Producer Price Index (PPI) increased by 10.3%...

In this paper, we examine the benefits of accounting comparability for cross-border investments in private firms. Exploiting a quasi-experimental setting we examine the real effect of an increase in accounting comparability using a difference-in-differences research design. We find that the...

Purpose - the main aim of this article is to identify cryptocurrencies suitable for investment and portfolio diversification. Research methodology - the methodology of empirical research includes methods of scientific literature analysis, statistical data analysis, multicriteria evaluation,...

Within finance, there is an area of investment based on the role in investment opportunities that are expected to increase in value in the short or long term, further to this, will also increase a profit for the investor. Depending on preferences, risk propensity and available trading...

We consider a new dataset that provides a description of the population of financial equity flows between developed countries from 2001 to 2018. We follow the standard practice of controlling for pull and push factors as well as gravity-style variables, while also accounting for the business...

We study the period of the COVID-19 pandemic to assess the impact of foreign institutional investor (FII) flows on asset prices in an emerging market. Using a dataset of stock-level foreign fund flows of Indian equities, we show that stocks experiencing abnormally high innovations in foreign...

This paper uses a unique security-level data set to demonstrate that foreign institutional investors shift their U.S. corporate bond portfolios toward bonds with higher credit spreads when U.S. monetary policy tightens, which reflects institutional factors related to nominal return targets and...

Cross-border capital flows are expected to lead to increased international risk sharing by facilitating borrowing and lending in global financial markets. We examine risk sharing outcomes of various types of capital flows (foreign direct investment, portfolio equity, debt, remittance, and aid...

This study examines the interplay between two major global trends – the growing role of foreign institutional investors (FII) due to global financial liberalization and the embracement of corporate social responsibility (CSR) as an investment ethos – in the world’s second-largest economy....

The paper tests three hypotheses concerning foreign equity investment in the presence of liquidity risk. First, the FDI-to-FPI price differential is negatively related to liquidity risk (the “Price Discount Hypothesis"). The idea is that market participants do not know whether the FDI investor...

We analyze spillovers of financial conditions on international portfolio bond flows. We document significant US financial conditions spillovers using data from developed and emerging countries. To disentangle the nature of spillovers, we rely on panel spatial autoregressive models, and third...

This report presents the results of a survey that queried foreign investors active in the Latin America and Caribbean region on the importance they attach to a key set of investment facilitation measures. It is based on 67 responses. The results of the investor survey are put into perspective by...

We use the European Central Bank's new and detailed database of European equity holdings by households to test two competing theories of international biases in equity portfolios, viz. that they reflect either informational advantages or familiarity bias. The database allows lookthrough handling...

Foreign Portfolio Investments consist of securities and other capital inflows of assets possibly held by other foreign countries. Foreign Portfolio Investment (FPI) provides the investor with indirect ownership of financial assets. This study intends to analyze the growth of FPI in India and...

Insurers are the largest institutional investors of corporate bonds. However, a standard theory of insurance markets, in which insurers maximize firm value subject to regulatory or risk constraints, predicts no allocation to corporate bonds. We resolve this puzzle in an equilibrium asset pricing...

Based on GJR-GARCH-CVaR and Vine copula model, we explore the interdependence of Chinese art with other assets and portfolio performance containing stocks, bonds, forex, and art. The results show that D-vine copulas can better portray the multi-asset asymmetric dependence structure and art can...

The growing heft of institutional investors and asset managers in several Asian economies hasfuelled expansion in outward portfolio investment, mainly in US dollar-denominated assets. Thisinvestment is predominantly in long-term instruments but is hedged for currency risk mainlythrough...

This paper examines how foreign portfolio investment (FPI) in the US and its components affect the US macroeconomic conditions. We estimate a Dynamic Factor Model to extract comovements from 31 indicators to obtain three composite measures of the US market conditions, which correspond to real...

We study euro area investors' portfolio adjustment since the Brexit referendum in terms of securities issued in the UK or denominated in pound sterling, in the context of heightened policy uncertainty surrounding the exit process of the UK from the EU. Our sector-level analysis "looks-through"...