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Author : Norman Strong
Publisher :
ISBN 13 :
Total Pages : 17 pages
Book Rating : 4.:/5 (758 download)
Download or read book Understanding the Equity Home Bias written by Norman Strong and published by . This book was released on 1999 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ian Cooper
Publisher :
ISBN 13 : 9781601987631
Total Pages : 133 pages
Book Rating : 4.9/5 (876 download)
Download or read book The Equity Home Bias Puzzle written by Ian Cooper and published by . This book was released on 2013 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: Home bias - the empirical phenomenon that investors assign anomalously high weights to their own domestic assets - has puzzled academics for decades: financial theory predicts that an internationally well diversified portfolio of stocks and short-term bonds can reduce risk significantly without affecting expected return. Although the globalization of international equity markets has increased international investments, equity portfolios remain severely home biased today, and no single explanation seems to solve the puzzle completely. In this paper, we first provide a thorough description of the equity home bias phenomenon by defining, discussing, and applying the competing measures and presenting some estimates of the costs of under-diversification. Second, we evaluate the explanations for the equity home bias proposed in the literature such as information asymmetries, behavioral aspects, barriers to foreign investment, and governance issues, and conclude that each explanation on its own falls short, suggesting that the equity home bias probably reflects a combination of factors. Lastly, we review the implications of international under-diversification for portfolio formation and the cost of capital of companies.
Author : Kavous Ardalan
Publisher : Routledge
ISBN 13 : 1000008274
Total Pages : 393 pages
Book Rating : 4.0/5 ( download)
Download or read book Equity Home Bias in International Finance written by Kavous Ardalan and published by Routledge. This book was released on 2019-05-17 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive and critical analysis of research outcomes on the equity home bias puzzle – that people overinvest in domestic stocks relative to the theoretically optimal investment portfolio. It introduces place attachment – the bonding that occurs between individuals and their meaningful environments – as a new explanation for equity home bias, and presents a philosophically multi-paradigmatic view of place attachment. For the first time, a comprehensive and up-to-date review of the extant literature is provided, demonstrating that place attachment is a contributing factor to 22 different topics in which variations of home bias are present. The author also analyses the social-psychological underpinnings of place attachment, and considers the effect of multi-culturalism on the future of equity home bias. The book’s unique approach discusses the issues in conceptual terms rather than through data and statistical methods. This multi- and inter-disciplinary book is an invaluable resource for graduate students and researchers interested in economics, finance, philosophy, and/or methodology, introducing them to a new line of research.
Author : Reena Aggarwal
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4./5 ( download)
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:
Author : Cathleen Clerkin
Publisher : Center for Creative Leadership
ISBN 13 : 1647610028
Total Pages : 64 pages
Book Rating : 4.6/5 (476 download)
Download or read book Beyond Bias: Move from Awareness to Action written by Cathleen Clerkin and published by Center for Creative Leadership. This book was released on 2021-01-11 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding and working toward eliminating bias is an admirable goal for anyone, but especially for leaders. Leaders make decisions that change lives. They decide who is hired, promoted, or dismissed. They decide where to invest funds, when to bet on new ideas, and what the future of their organizations will be. Because of this, bias is a leadership liability.
Author : Amir Andrew Amadi
Publisher :
ISBN 13 :
Total Pages : 37 pages
Book Rating : 4.:/5 (129 download)
Download or read book Equity Home Bias written by Amir Andrew Amadi and published by . This book was released on 2004 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: The presence of home bias in equity portfolios has been a focus of the international finance literature for the past couple of decades. Recent developments and data collections, however, offer some insight into understanding the equity home bias phenomenon. This paper first demonstrates that there has been a distinct reduction equity home bias in recent years. It then examines if any of the prominent theoretical explanations or recent developments such as free trade and globalization, the advent the internet, and the rise of emerging markets and mutual fund investment have affected the increase in foreign diversification. The empirical analysis produces some interesting results. It demonstrates that the rise of the internet and mutual fund investment have indeed affected the changes in foreign diversification, supporting an information-asymmetries explanation. The results also indicate that other factors such as market size, which intuitively might be expected to affect foreign diversification, are insignificant.
Author : Martin Feldstein
Publisher : University of Chicago Press
ISBN 13 : 0226241807
Total Pages : 500 pages
Book Rating : 4.2/5 (262 download)
Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Author : Jennifer Schneider
Publisher : Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
ISBN 13 : 9783631639740
Total Pages : 218 pages
Book Rating : 4.6/5 (397 download)
Download or read book European Business Cycle Convergence written by Jennifer Schneider and published by Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften. This book was released on 2013 with total page 218 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is the euro area getting closer with regard to business cycles? The study investigates the linkage between business cycle convergence and financial portfolio choice for a panel of 18 European countries. For this purpose an index is constructed which measures the similarity of investment portfolios. The idea is that financial portfolio choice has an impact on business cycles and contributes to convergence via the consumption-wealth linkage. The background of the analysis is the International Asset Pricing Model (IAPM). The results of fixed effects GMM TSLS estimations confirm the linkage. The effect is higher for country-pairs that are built by one euro area member and one member outside the euro area.
Author : Fang Cai
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (129 download)
Download or read book International Diversification at Home and Abroad written by Fang Cai and published by . This book was released on 2007 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is an established fact that investors favor the familiar%u2014be it domestic securities or, within a country, the securities of nearby firms%u2014and avoid investments that would provide the greatest diversification benefits. While we do not rule out familiarity as an important driver of portfolio allocations, we provide new evidence of investors%u2019 international diversification motive. In particular, our analysis of the security-level U.S. equity holdings of foreign and domestic institutional investors indicates that institutional investors reveal a preference for domestic multinationals (MNCs), even after controlling for familiarity factors. We attribute this revealed preference to the desire to obtain %u201Csafe%u201D international diversification. We then show that holdings of domestic MNCs are substantial and, after accounting for this home-grown foreign exposure, that the share of %u201Cforeign%u201D equities in investors%u2019 portfolios roughly doubles, reducing (but not eliminating) the observed home bias.
Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1455216569
Total Pages : 180 pages
Book Rating : 4.4/5 (552 download)
Download or read book Coordinated Portfolio investment Survey written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-01-01 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a coordinated portfolio investment survey guide provided to assist national compilers in the conduct of the Coordinated Portfolio Investment Survey, conducted under the auspices of the IMF with reference to the year-end 1997. The guide covers a variety of conceptual issues that a country must address when conducting a survey. It also covers the practical issues associated with preparing for a national survey. These include setting a timetable, taking account of the legal and confidentiality issues raised, developing a mailing list, and maintaining quality control checks.
Author : Sheldon L. Eakins
Publisher : John Wiley & Sons
ISBN 13 : 1119840988
Total Pages : 259 pages
Book Rating : 4.1/5 (198 download)
Download or read book Leading Equity written by Sheldon L. Eakins and published by John Wiley & Sons. This book was released on 2022-06-13 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: Transform your school and your classroom with these best practices in equity That the typical modern classroom lacks equity will come as no surprise to many educators. But few resources explain how to remedy that situation in the here and now. Leading Equity delivers an eye-opening and actionable discussion of how to transform a classroom or school into a more equitable place. Through explorations of ten concrete steps that you can take right now, Dr. Sheldon L. Eakins offers you the skills, resources, and concepts you'll need to address common equity deficiencies in education. You'll learn about: Things you can do today to advance the cause of equity in your classroom, from reconsidering your language choices to getting to know yourself and your students Using social justice as the basis for your advocacy for equity How to promote a decolonial atmosphere and model vulnerability and humility for your students and colleagues Ideal for educators and educational leaders at all stages of their careers, Leading Equity will help you improve your ability to offer an equitable environment to all of your students.
Author : Alec Renehan
Publisher : Allen & Unwin
ISBN 13 : 1761062670
Total Pages : 301 pages
Book Rating : 4.7/5 (61 download)
Download or read book Get Started Investing written by Alec Renehan and published by Allen & Unwin. This book was released on 2021-08-31 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: The founders of Australia's #1 finance podcast network, Equity Mates, show how you can tap into the awesome power of the stockmarket - it's easier than you think! Does the stock market seem too complicated? Do you think that investing is only for those with more money? Do you want to start investing but don't know where to begin? This is the guide to investing you've been waiting for. Investing in the stock market has never been more accessible. Alec and Bryce show why the stock market has been the most powerful money-making machine that has ever existed and how you can access it with just a few spare dollars. They break down the jargon and give you all the information you need to build the confidence to get started today. They explain how to use online investment platforms, managed funds and exchange-traded funds, what to invest in and what to avoid, how to keep it simple, and why the biggest risk is not investing. Get Started Investing draws on advice from over 150 expert investors from around the world, and stories from everyday small investors just like you. Whether you're in school, building your career or nearing retirement, Alec and Bryce will help to make your money work for you. 'I'm a massive fan of these two blokes. They cut through the jargon to help anyone switch from being a saver to an investor. Saving to invest is how real wealth is built.' DAVID KOCH, TV presenter 'I wish I'd read this book 15 years ago! A perfect start for any beginner who is thinking about investing. It's a must-read for anyone who's scared of the stock market, like I was.' USMAN KHAWAJA, Test cricketer
Author : Adam Hantak
Publisher : diplom.de
ISBN 13 : 3842821530
Total Pages : 76 pages
Book Rating : 4.8/5 (428 download)
Download or read book Equity Home Bias written by Adam Hantak and published by diplom.de. This book was released on 2011-10-20 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Introduction: Every investor faces the challenge of making the right investment decisions. Upon analysing the allocation of wealth among countries, it becomes evident that investors do not invest their financial wealth internationally, but tend to invest the majority of their wealth in domestic equity. Financial theory deems this behaviour irrational, since holding a domestic portfolio is considered to be suboptimal due to the foregone benefits of international diversification. Assuming that the financial theory is right in this prediction, the question as to what are the causes for this irrational behaviour comes to mind and forms the focal point of this work. One the one hand, investors may be well aware of the costs connected with holding a domestic portfolio. Market restrictions, however, do not allow investors to attain the optimal international portfolio. On the other hand, investors may be unaware of the benefits of international diversification, and instead have a preference for domestic equity and fail to perceive the domestic portfolio as suboptimal. The traditional financial theory for this behaviour provides the institutional explanations with the focus on market imperfections and the behavioural financial theory provides explanations with the focus on investor irrationality. Following this classification of both theories, this work briefly reviews institutional explanations, as many of them lack empirical evidence and concentrates mainly on the behavioural explanations, as they are the focal point of current research and find wide empirical support. After defining equity home bias and related concepts in Chapter 2, the costs of equity home bias are discussed in Chapter 3. In Chapter 4, institutional explanations are considered. Section 4.1 reviews briefly a number of older institutional explanations, such as direct investment barriers, transactions costs and taxes, as they do not find much empirical support. Section 4.2 explores in more detail an explanation based on information asymmetry, as it may at least partially contribute to the solution of the home bias problem. With the emergence and acceptance of behavioural finance new explanations based on irrationality of investors were advanced and are presented in Chapter 5. Section 5.1 explores optimistic expectations about domestic markets as one of the early behavioural explanations. Section 5.2 deals with the competence hypothesis and creates a foundation for the [...]
Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 0309452961
Total Pages : 583 pages
Book Rating : 4.3/5 (94 download)
Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Author : Minal Bopaiah
Publisher : Berrett-Koehler Publishers
ISBN 13 : 152309026X
Total Pages : 177 pages
Book Rating : 4.5/5 (23 download)
Download or read book Equity written by Minal Bopaiah and published by Berrett-Koehler Publishers. This book was released on 2021-09-07 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: A fast and engaging read, Equity helps leaders create more inclusive organizations using human-centered design and behavior change principles. Even the most passionate advocates for diversity, equity, and inclusion have been known to treat equity as the middle child—the concept they skip over to get to the warm, fuzzy feelings of inclusion. But Minal Bopaiah shows throughout this book that equity is critical if organizations really want to leverage differences for greater impact. Equity allows leaders to create organizations where employees can contribute their unique strengths and collaborate better with peers. Bopaiah explains how leaders can effectively raise awareness of systemic bias and craft new policies that lead to better outcomes and lasting behavioral changes. This book is rich in real-world examples, such as managing partners at a consulting firm who learn to retell their personal stories of success by crediting their systemic advantages and news managers at NPR who redesign their processes to support greater diversity among news sources. This slender book expands DEI past human resources initiatives and shows how leaders can embed equity into core business functions like marketing and communications. Filled with humor, heart, and pragmatism, Equity is a guidebook for change, answering the question of how that so many leaders are asking today.
Author : Louise Derman-Sparks
Publisher :
ISBN 13 : 9781938113574
Total Pages : 224 pages
Book Rating : 4.1/5 (135 download)
Download or read book Anti-Bias Education for Young Children and Ourselves written by Louise Derman-Sparks and published by . This book was released on 2020-04-07 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Anti-bias education begins with you! Become a skilled anti-bias teacher with this practical guidance to confronting and eliminating barriers.
Author : Michael A. Ervolini
Publisher : MIT Press
ISBN 13 : 0262547902
Total Pages : 301 pages
Book Rating : 4.2/5 (625 download)
Download or read book Managing Equity Portfolios written by Michael A. Ervolini and published by MIT Press. This book was released on 2023-05-09 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: A groundbreaking framework for improving portfolio performance that goes beyond traditional analytics, offering new ways to understand investment skills, process, and behaviors. Portfolio management is a tough business. Each day, managers face the challenges of an ever-changing and unforgiving market, where strategies and processes that worked yesterday may not work today, or tomorrow. The usual advice for improving portfolio performance—refining your strategy, staying within your style, doing better research, trading more efficiently—is important, but doesn't seem to affect outcomes sufficiently. This book, by an experienced advisor to institutional money managers, goes beyond conventional thinking to offer a new analytic framework that enables investors to improve their performance confidently, deliberately, and simply, by applying the principles of behavioral finance. W. Edwards Deming observed that you can't improve what you don't measure. Active portfolio management lacks methods for measuring key inputs to management success like skills, process, and behavioral tendencies. Michael Ervolini offers a conceptually straightforward and well-tested framework that does just that, with evidence of how it helps managers enhance self-awareness and become better investors. In a series of short, accessible chapters, Ervolini investigates a range of topics from psychology and neuroscience, describing their relevance to the challenges of portfolio management. Finally, Ervolini offers seven ideas for improving. These range from maintaining an investment diary to performing rudimentary calculations that quantify basic skills; each idea, or “project,” helps managers gain a deeper understanding of their strengths and shortcomings and how to use this knowledge to improve investment performance.
