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https://hdl.handle.net/1822/31892
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Campo DC | Valor | Idioma |
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dc.contributor.author | Roque, Vanda | por |
dc.contributor.author | Cortez, Maria do Céu | por |
dc.date.accessioned | 2014-12-12T16:32:34Z | - |
dc.date.available | 2014-12-12T16:32:34Z | - |
dc.date.issued | 2014 | - |
dc.identifier.issn | 0378-4266 | por |
dc.identifier.uri | https://hdl.handle.net/1822/31892 | - |
dc.description.abstract | In this paper we investigate whether the determinants of international equity investment differ between investors with different degrees of sophistication. For this purpose, we analyse and compare the determinants of international equity investment of institutional and noninstitutional investors from 20 OECD countries (US not included) in the period 2001-2009. The results show that there are significant differences in the determinants of international equity investment between institutional and noninstitutional investors. In particular, noninstitutional investors tend to exhibit a more pronounced preference for equities of geographical nearby, contiguous and more transparent countries than institutional investors. The preference for more developed equity markets and the contrarian behaviour are also significantly more pronounced for noninstitutional than for institutional investors. These results support the argument that international equity investment of less sophisticated investors is more affected by information costs and familiarity than that of more sophisticated investors. Moreover, business cycles exert an influence on international equity investment decisions of both institutional and noninstitutional investors. | por |
dc.description.sponsorship | QREN | por |
dc.description.sponsorship | COMPETE | por |
dc.description.sponsorship | Fundação para a Ciência e a Tecnologia (FCT) | por |
dc.description.sponsorship | FEDER | por |
dc.language.iso | eng | por |
dc.publisher | Elsevier 1 | por |
dc.rights | restrictedAccess | por |
dc.subject | International Equity Investment | por |
dc.subject | Determinants of Investment; | por |
dc.subject | Institutional Investors | por |
dc.subject | Noninstitutional investors | por |
dc.subject | Business Cycles | por |
dc.title | The determinants of international equity investment : do they differ between institutional and noninstitutional investors? | por |
dc.type | article | por |
dc.peerreviewed | yes | por |
dc.relation.publisherversion | http://www.sciencedirect.com/science/article/pii/S0378426614002301 | por |
sdum.publicationstatus | published | por |
oaire.citationStartPage | 469 | por |
oaire.citationEndPage | 482 | por |
oaire.citationTitle | Journal of Banking and Finance | por |
oaire.citationVolume | 49 | por |
dc.identifier.doi | 10.1016/j.jbankfin.2014.06.015 | por |
dc.subject.fos | Ciências Sociais::Economia e Gestão | por |
dc.subject.wos | Social Sciences | por |
sdum.journal | Journal of Banking and Finance | por |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
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RoqueCortez_The determinants of international equity investment_ do they differ between institutional and noninstitutional investors.pdf Acesso restrito! | The determinants of international equity investment: do they differ between institutional and noninstitutional investors? | 515,41 kB | Adobe PDF | Ver/Abrir |