haku: @indexterm portfolio investment / yhteensä: 425
viite: 4 / 425
| Tekijä: | Fratzscher, M. Imbs, J. |
| Otsikko: | Risk sharing, finance, and institutions in international portfolios |
| Lehti: | Journal of Financial Economics
2009 : DEC, VOL 94:3, p. 428-447 |
| Asiasana: | risk sharing diversification portfolio investment integration investments |
| Kieli: | eng |
| Tiivistelmä: | The purpose of this article is to demonstrate the impact of international investment transaction costs on conventional tests of consumption risk sharing. The authors develop a model and test it on international data on bilateral holdings. It is found that foreign capital holdings in equity and bonds are often related to international consumption risk sharing, whereas holdings in foreign direct investments and bank loans are not. The article also shows the domination of implied effects of institutions in cross-section of consumption risk sharing and in international investment patterns. |
SCIMA