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The Determinants Of International Portfolio Holdings And Home Biasmarkets
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Book Synopsis The Determinants of International Portfolio Holdings and Home Bias by : Shujing Li
Download or read book The Determinants of International Portfolio Holdings and Home Bias written by Shujing Li and published by International Monetary Fund. This book was released on 2004-02 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the liberalization of foreign portfolio investment around the globe since the early 1980s, the home-bias phenomenon is still found to exist. Using a relatively new IMF survey dataset of cross-border equity holdings, this paper tests new structural equations from a consumption-based asset-pricing model on international portfolio holdings. Using of stock data allows us to provide new and clear-cut evidence on the determinants of international portfolio holdings. The empirical results show that an augmented gravity model performs remarkably well. The results indicate that market size, transaction cost, and information asymmetry are major determinants of cross-border portfolio choice. These findings shed light on alternative theories of international portfolio holdings, especially on the transaction and information cost-based explanations of home bias.
Book Synopsis The Determinants of International Portfolio Holdings and Home Biasmarkets by : Hamid Faruqee
Download or read book The Determinants of International Portfolio Holdings and Home Biasmarkets written by Hamid Faruqee and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Determinants of International Portfolio Holdings and Home Bias by :
Download or read book The Determinants of International Portfolio Holdings and Home Bias written by and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Determinants of International Portfolio Holdings and Geographical Bias by : Shujing Li
Download or read book The Determinants of International Portfolio Holdings and Geographical Bias written by Shujing Li and published by . This book was released on 2005 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper employs a unique cross-border equity position dataset from the IMF to investigate the determinants of international portfolio holdings in a wide range of countries. It is observed that, besides the home bias phenomenon, there is considerable geographical bias in the cross-border portfolio holdings - investors tend to hold more securities in countries closer to them in distance. We estimate that if the distance between two counties doubles the cross-border equity holdings are reduced by 68%. This paper first derives structural equations from a consumption-based asset pricing model and then applies them to analyze the effect of distance, information and transaction costs on international portfolio holdings. The results indicate that, by explicitly introducing information and transaction costs into the model, the heterogeneity of cross-border holdings and a great part of the home bias puzzle can be explained.
Book Synopsis The Determinants of International Portfolio Holding and Home Bias by : H. Farqee
Download or read book The Determinants of International Portfolio Holding and Home Bias written by H. Farqee and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Portfolio Preferences of Foreign Institutional Investors by : Reena Aggarwal
Download or read book Portfolio Preferences of Foreign Institutional Investors written by Reena Aggarwal and published by World Bank Publications. This book was released on 2003 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Capital Control Measures by : Andrés Fernández
Download or read book Capital Control Measures written by Andrés Fernández and published by International Monetary Fund. This book was released on 2015-04-22 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a new dataset of capital control restrictions on both inflows and outflows of 10 categories of assets for 100 countries over the period 1995 to 2013. Building on the data in Schindler (2009) and other datasets based on the analysis of the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER), this dataset includes additional asset categories, more countries, and a longer time period. The paper discusses in detail the construction of the dataset and characterizes the data with respect to the prevalence and correlation of controls across asset categories and between controls on inflows and controls on outflows, the aggregation of the separate categories into broader indicators, and the comparison of this dataset with other indicators of capital controls.
Book Synopsis Diversification and Portfolio Management of Mutual Funds by : G. Gregoriou
Download or read book Diversification and Portfolio Management of Mutual Funds written by G. Gregoriou and published by Springer. This book was released on 2015-12-17 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the importance of diversification for reducing volatility of investment portfolios. It shows how to improve investment efficiency, and explains how international diversification reduces overall risk while enhancing performance. This book is a crucial tool for any investor looking to improve the profit gain from their investment.
Download or read book CSR and Beyond written by Atle Midttun and published by . This book was released on 2013-05-31 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the neoliberal turn in the 1980s, leading global companies have established an influential trend in business through adoption of the doctrine of corporate social and environmental responsibility (CSR). This book critically explores the new megatrend and its varying interpretations and presents overviews of several fields of CSR practice: governance, business ethics, SRI/ESG investment, communication, reporting, labour relations/HR, supply chain management, life cycle analysis, climate strategy, innovation, leadership and public policy. The book also presents visions of CSR development going forward. While the book contributes to the international research frontier, it also reflects its Nordic context, both with respect to authorship and empirical focus. Chapters on leading companies and on state CSR initiatives illustrate how the Nordic tradition has fostered pioneering CSR positions both in business and public policy. In the final chapter the book engages in the broader international debate on CSR, democracy, and value creation, with leading international critical thinkers in dialogue with industrial strategists.
Book Synopsis Introducing a New Broad-based Index of Financial Development by : Katsiaryna Svirydzenka
Download or read book Introducing a New Broad-based Index of Financial Development written by Katsiaryna Svirydzenka and published by International Monetary Fund. This book was released on 2016-01-12 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth – the ratio of private credit to GDP or stock market capitalization to GDP. However, these indicators do not take into account the complex multidimensional nature of financial development. The contribution of this paper is to create nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are then aggregated into an overall index of financial development. With the coverage of 183 countries on annual frequency between 1980 and 2013, the database should offer a useful analytical tool for researchers and policy makers.
Book Synopsis Conquest of Poverty, The by : Henry Hazlitt
Download or read book Conquest of Poverty, The written by Henry Hazlitt and published by Ludwig von Mises Institute. This book was released on 1973 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Introduction to Algorithmic Trading by : Edward Leshik
Download or read book An Introduction to Algorithmic Trading written by Edward Leshik and published by John Wiley & Sons. This book was released on 2011-09-19 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Interest in algorithmic trading is growing massively – it’s cheaper, faster and better to control than standard trading, it enables you to ‘pre-think’ the market, executing complex math in real time and take the required decisions based on the strategy defined. We are no longer limited by human ‘bandwidth’. The cost alone (estimated at 6 cents per share manual, 1 cent per share algorithmic) is a sufficient driver to power the growth of the industry. According to consultant firm, Aite Group LLC, high frequency trading firms alone account for 73% of all US equity trading volume, despite only representing approximately 2% of the total firms operating in the US markets. Algorithmic trading is becoming the industry lifeblood. But it is a secretive industry with few willing to share the secrets of their success. The book begins with a step-by-step guide to algorithmic trading, demystifying this complex subject and providing readers with a specific and usable algorithmic trading knowledge. It provides background information leading to more advanced work by outlining the current trading algorithms, the basics of their design, what they are, how they work, how they are used, their strengths, their weaknesses, where we are now and where we are going. The book then goes on to demonstrate a selection of detailed algorithms including their implementation in the markets. Using actual algorithms that have been used in live trading readers have access to real time trading functionality and can use the never before seen algorithms to trade their own accounts. The markets are complex adaptive systems exhibiting unpredictable behaviour. As the markets evolve algorithmic designers need to be constantly aware of any changes that may impact their work, so for the more adventurous reader there is also a section on how to design trading algorithms. All examples and algorithms are demonstrated in Excel on the accompanying CD ROM, including actual algorithmic examples which have been used in live trading.
Book Synopsis Economic Development as a Learning Process by : Franco Malerba
Download or read book Economic Development as a Learning Process written by Franco Malerba and published by Edward Elgar Publishing. This book was released on 2012 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: Until recently, economists studying economic development have tended to consider it as a universal process, or focussed their attention on common aspects. This book originates from the growing recognition of significant sectoral differences in economic development and examines the catching-up process in five different economic sectors: pharmaceuticals, telecommunications equipment, semiconductors, software, and agro-food industries. Each of these sector studies explore the learning and catch-up processes in various developing countries, in order to identify both the common features, and those which differ significantly across sectors and nations. The authors pay particular attention to China, India, Brazil, Korea and Taiwan. Edited by two of the leading scholars in the field, this book will prove to be invaluable for academics and postgraduate students interested in economic and technological development, and evolutionary economics.
Book Synopsis Essentials of Social Psychology by : Michael A. Hogg
Download or read book Essentials of Social Psychology written by Michael A. Hogg and published by Pearson Education. This book was released on 2009-12-14 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essentials of Social Psychology provides a clear, concise and engaging introduction to the field. Covering all the major topics and theoretical perspectives, this exciting new book provides straightforward explanation of key terms and concepts in a lively and student-friendly manner. Debates and controversies are brought to life and the wider practical relevance of the subject is emphasised throughout. Pedagogical features that appear across the book include Research Classic sections which describe classic studies, Research Applications boxes that highlight more contemporary developments in social psychological research and their practical applications, Real World features that look at the everyday relevance of social psychology, and Literature, Film and TV features that demonstrate how social psychological concepts are dealt with in popular media. An international balance of research alerts students to the cross cultural dimensions of social psychology Essentials of Social Psychology is accompanied by MyPsychLab, an interactive online study resource designed to help students to consolidate and further their understanding. Together, the book and online support make this an ideal resource for those studying the subject for the first time, or as part of a more general programme of study.
Book Synopsis The International Takeoff of New Products by : Gerard J. Tellis
Download or read book The International Takeoff of New Products written by Gerard J. Tellis and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sales takeoff is vitally important for the management of new products. Limited prior research on this phenomenon covers only the United States. This study addresses the following questions about takeoff in Europe: 1) Does takeoff occur as distinctly in other countries, as it does in the United States? 2) Do different categories and countries have consistently different times-to-takeoff? 3) What economic and cultural factors explain the intercountry differences? 4) Should managers use a sprinkler or waterfall strategy for the introduction of new products across countries? We gathered data on 137 new products across 10 categories and 16 European countries. We adapted the threshold rule for identifying takeoff (Golder and Tellis 1997) to this multinational context. We specify a parametric hazard model to answer the questions above. The major results are as follows: 1) Sales of most new products display a distinct takeoff in various European countries, at an average of six years after introduction. 2) The time-to-takeoff varies substantially across countries and categories. It is four times shorter for entertainment products than for kitchen and laundry appliances. It is almost half as long in Scandinavian countries as in Mediterranean countries. 3) While culture partially explains intercountry differences in time-to-takeoff, economic factors are neither strong nor robust explanatory factors. 4) These results suggest distinct advantages to a waterfall strategy for introducing products in international markets.
Book Synopsis Advertising to Baby Boomers by : Chuck Nyren
Download or read book Advertising to Baby Boomers written by Chuck Nyren and published by Paramount Market Publishing. This book was released on 2005 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using familiar examples, Nyren advises how to change prescription drug advertising, discusses planned retirement communities and the ways that they can be made more appealing to maturing consumers, and more importantly, offers valuable advice on the advertising of general consumer goods and services. Exploding the myth that Baby Boomers just want to retreat to their younger years, Nyren explains that Boomers are not hung up on age. "Who actually thinks about his or her age all the time, or even very often?" he asks. "Contrary to social commentators, the media, and certainly advertising agencies, most of the time we are who we are: people in our middle age, and not much different but a little different than other generations were in their middle ages. We're not jumping in mosh pits while juggling cans of soda, trying to be eighteen again.
Book Synopsis The Economics of Industrial Organization by : William G. Shepherd
Download or read book The Economics of Industrial Organization written by William G. Shepherd and published by Waveland Press. This book was released on 2003-09-19 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of industrial organization extends to the core of some of the most important questions of economics: Who controls markets and profits from them? Does competition or monopoly result in a more beneficial economy? How can the economic playing field become fairer or more biased in either direction? Throughout the fields history, various clashing schools of thought have attempted to sort through these complex issues, examining both abstract theory and real-life cases. The Fifth Edition of this widely used, highly regarded text includes coverage of dramatic changes in the field. Shepherd and Shepherd provide broad, balanced coverage of topics without showing preference to any single point of view, encouraging readers to think independently. This emphasis on independent judgment is evident throughout the book, with discussion of structure placed before performance to assist the reader in thinking about causation. Topics are organized for maximum flexibility, with distinct chapters covering case studies, antitrust and regulation policy, and capital markets.
