International investors' home bias in portfolio equity investment

Paper

Mishra, Anil V.. 2007. "International investors' home bias in portfolio equity investment." Walker, Gordon (ed.) 14th Global Finance Conference. Melbourne 01 - 04 Apr 2007 Melbourne, Australia.
Paper/Presentation Title

International investors' home bias in portfolio equity investment

Presentation TypePaper
Authors
AuthorMishra, Anil V.
EditorsWalker, Gordon
Journal or Proceedings TitleProceedings of the 14th Global Finance Conference
Number of Pages35
Year2007
Place of PublicationMelbourne, Australia
Web Address (URL) of Paperhttp://www.gfc2007.org
Conference/Event14th Global Finance Conference
Event Details
14th Global Finance Conference
Event Date
01 to end of 04 Apr 2007
Event Location
Melbourne
Abstract

This paper utilizes International Monetary Fund’s high quality dataset over the period from 2001 to 2004, to investigate the determinants of home bias in the international context. This paper contributes to the existing literature by using float adjusted measure of home bias for 38 countries. Information asymmetries arising due to countries’ regulatory and legal environment have significant impact on home bias.Foreign listing is found to alleviate home bias.
International investors exhibit a preference for nearby and same language countries.Capital controls, trade links and risk adjusted returns are found to significantly affect
equity home bias. Transaction costs do not have a significant impact on the equity home bias.

Keywordsgovernance indicators; coordinated portfolio investment survey; float world market portfolio
ANZSRC Field of Research 2020380107. Financial economics
380110. International economics
Public Notes

No evidence of copyright restrictions on web site.

Byline AffiliationsDepartment of Finance and Banking
Permalink -

https://research.usq.edu.au/item/9y144/international-investors-home-bias-in-portfolio-equity-investment

Log in to edit

Download files

  • 2307
    total views
  • 723
    total downloads
  • 3
    views this month
  • 0
    downloads this month

Export as

Related outputs

International comparisons of Australia's investment and trading position
Daly, Kevin and Mishra, Anil V.. 2006. "International comparisons of Australia's investment and trading position." Journal of Investment Strategy. 1 (3), pp. 45-50.
Where do Australians invest?
Mishra, Anil and Daly, Kevin. 2006. "Where do Australians invest?" The Australian Economic Review. 39 (1), pp. 47-59. https://doi.org/10.1111/j.1467-8462.2006.00395.x
Where do Australians invest?
Mishra, Anil V. and Daly, Kevin. 2004. "Where do Australians invest?" Hoque, Mohammad Ziaul (ed.) 4th International Business Research Conference. Melbourne, Australia 15 - 16 Nov 2004 Melbourne, Australia.
Australia's equity home bias and real exchange rate volatility
Mishra, Anil V.. 2008. "Australia's equity home bias and real exchange rate volatility." 16th Annual Conference on Pacific Basin Finance, Economics, Accounting and Management (PBFEAM 2008). Brisbane, Australia 02 - 04 Jul 2008 Brisbane, Australia.
Australia's equity home bias
Mishra, Anil V.. 2008. "Australia's equity home bias." Australian Economic Papers. 47 (1), pp. 53-73. https://doi.org/10.1111/j.1467-8454.2008.00329.x
Australia's equity home bias and corporate governance
Mishra, Anil V.. 2007. "Australia's equity home bias and corporate governance." Davis, Kevin (ed.) 12th Finsia-Melbourne Centre for Financial Studies Banking and Finance Conference: Developments in Financial Services: Theory Meets Practice. Melbourne, Australia 24 - 25 Sep 2007 Melbourne, Australia.
Multi-country empirical investigation into international financial integration
Mishra, Anil and Daly, Kevin. 2006. "Multi-country empirical investigation into international financial integration." 3rd Financial Markets Asia-Pacific Conference. Sydney, Australia 26 - 27 May 2005 United Kingdom. https://doi.org/10.1080/13547860600923775
Australian investors' home bias in portfolio equity investment
Mishra, Anil V.. 2006. "Australian investors' home bias in portfolio equity investment." MacDonald, Garry (ed.) 35th Australian Conference of Economists (ACE 2006). Perth, Australia 25 - 27 Sep 2006 Curtin University of Technology, Perth, Western Australia.
International investment patterns: evidence using a new dataset
Mishra, Anil V.. 2005. "International investment patterns: evidence using a new dataset." Valentine, Tom (ed.) 3rd Financial Markets Asia-Pacific Conference. Sydney, Australia 26 - 27 May 2005
Effect of quality of institutions on outward foreign direct investment
Mishra, Anil and Daly, Kevin. 2007. "Effect of quality of institutions on outward foreign direct investment." The Journal of International Trade and Economic Development: an international and comparative review. 16 (2), pp. 231-244. https://doi.org/10.1080/09638190701325573
International investment patterns: evidence using a new dataset
Mishra, Anil V.. 2006. "International investment patterns: evidence using a new dataset." Research in International Business and Finance. 21 (2), pp. 342-360. https://doi.org/10.1016/j.ribaf.2006.09.002