International Diversification at Home and Abroad

International Diversification at Home and Abroad
Title International Diversification at Home and Abroad PDF eBook
Author Fang Cai
Publisher
Pages 0
Release 2004
Genre
ISBN

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International Diversification at Home and Abroad

International Diversification at Home and Abroad
Title International Diversification at Home and Abroad PDF eBook
Author Fang Cai
Publisher
Pages 38
Release 2007
Genre
ISBN

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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.

The International Diversification Puzzle when Goods Prices Are Sticky

The International Diversification Puzzle when Goods Prices Are Sticky
Title The International Diversification Puzzle when Goods Prices Are Sticky PDF eBook
Author Mr.Charles Engel
Publisher International Monetary Fund
Pages 49
Release 2009-01-01
Genre Business & Economics
ISBN 1451871597

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This paper develops a two-country monetary DSGE model in which households choose a portfolio of home and foreign equities, and a forward position in foreign exchange. Some nominal goods prices are sticky. Trade in these assets achieves the same allocations as trade in a complete set of nominal state-contingent claims in our linearized model. When there is a high degree of price stickiness, we show that not much equity diversification is required to replicate the complete-markets equilibrium when agents are able to hedge foreign exchange risk sufficiently. Moreover, temporarily sticky nominal goods prices can have large effects on equity portfolios even when dividend processes are very persistent.

Managing Your Personal Finance

Managing Your Personal Finance
Title Managing Your Personal Finance PDF eBook
Author Wai Mun Fong
Publisher WS Professional
Pages 326
Release 2020
Genre Electronic books
ISBN 9811212570

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"Deals with a wide range of topics on personal finance covered in 45 chapters. Explains complex financial tools, products, processes in a simple-to-understand way. Beyond providing an explanation of products and tools, it also provides practical advice on money management"--

At Home and Abroad

At Home and Abroad
Title At Home and Abroad PDF eBook
Author Elizabeth Shakm Hurd
Publisher Religion, Culture, and Public Life
Pages 344
Release 2021-02-23
Genre
ISBN 9780231198981

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At Home and Abroad bridges the divide in the study of American religion, law, and politics between domestic and international, bringing together diverse authors to explore ties across conceptual and political boundaries. They examine the ideas, people, and institutions that provide links between domestic and foreign religious politics and policies.

Behavioral Finance

Behavioral Finance
Title Behavioral Finance PDF eBook
Author H. Kent Baker
Publisher John Wiley & Sons
Pages 773
Release 2010-10-05
Genre Business & Economics
ISBN 0470499117

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A definitive guide to the growing field of behavioral finance This reliable resource provides a comprehensive view of behavioral finance and its psychological foundations, as well as its applications to finance. Comprising contributed chapters written by distinguished authors from some of the most influential firms and universities in the world, Behavioral Finance provides a synthesis of the most essential elements of this discipline, including psychological concepts and behavioral biases, the behavioral aspects of asset pricing, asset allocation, and market prices, as well as investor behavior, corporate managerial behavior, and social influences. Uses a structured approach to put behavioral finance in perspective Relies on recent research findings to provide guidance through the maze of theories and concepts Discusses the impact of sub-optimal financial decisions on the efficiency of capital markets, personal wealth, and the performance of corporations Behavioral finance has quickly become part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

The Handbook of Globalisation, Third Edition

The Handbook of Globalisation, Third Edition
Title The Handbook of Globalisation, Third Edition PDF eBook
Author Jonathan Michie
Publisher Edward Elgar Publishing
Pages 487
Release 2019
Genre Electronic books
ISBN 178811860X

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The past 30 years are often depicted as an era of globalisation, and even more so with the recent rise of global giants such as Google and Amazon. This updated and revised edition of The Handbook of Globalisation offers novel insights into the rapid changes our world is facing, and how best we can handle them.