Transparency and International Investor Behavior /
Does country "transparency" affect international portfolio investment? We examine this and related questions using a unique micro dataset on international portfolio holdings. We employ various indices of government and corporate transparency, focusing on the availability and quality of inf...
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| Médium: | Časopis |
| Jazyk: | English |
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Washington, D.C. :
International Monetary Fund,
2002.
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| Edice: | IMF Working Papers; Working Paper ;
No. 2002/174 |
| On-line přístup: | Full text available on IMF |
| Shrnutí: | Does country "transparency" affect international portfolio investment? We examine this and related questions using a unique micro dataset on international portfolio holdings. We employ various indices of government and corporate transparency, focusing on the availability and quality of information. We find that emerging market equity funds hold fewer assets in less transparent countries. Herding among funds is somewhat less prevalent in more transparent countries. During the Asian and Russian crises, emerging market funds withdrew more strongly from less transparent countries after controlling for other risk factors. However, funds tend to react less strongly to news from more opaque markets. |
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| Popis jednotky: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Fyzický popis: | 1 online resource (39 pages) |
| Médium: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Přístup: | Electronic access restricted to authorized BRAC University faculty, staff and students |