| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP6922 |
| DP6922 Powerful Women: Does Exposure Reduce Bias? | |
| Rohini Pande; Esther Duflo; Lori Beaman; Petia Topalova | |
| 发表日期 | 2008-07-25 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | The dramatic increase in gross stock of foreign assets and liability has revived interest in the portfolio balance theory of international investment. Evidence on the validity of this theory has always been scarce and inconclusive. The current paper derives testable empirical implications from microeconomic foundations, which we confront with a new comprehensive data set on the stock allocations of approximately 6,500 international equity funds domiciled in four different currency areas. The disaggregated data structure allows us to examine whether foreign exchange and equity risk measures trigger the predicted rebalancing behavior at the fund and stock level. The data provide strong support for portfolio rebalancing behavior aimed at reducing both exchange rate and equity risk exposure. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Capital flows Home bias International finance |
| URL | https://cepr.org/publications/dp6922 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535758 |
| 推荐引用方式 GB/T 7714 | Rohini Pande,Esther Duflo,Lori Beaman,et al. DP6922 Powerful Women: Does Exposure Reduce Bias?. 2008. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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