The Determinants of Cross-Border Equity Flows: The Geography of Information

By R. Portes, Hélène Rey. 2000

115 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/9d01d3339846dab6fca04d0180ae19ec75e60fa5

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Citations in the corpus

Cross-Border Diversification in Bank Asset Portfolios (2004, unknown): “, Solnik (1974). However, the risk-return gain is hard to assert empirically on the basis of ex-post data, measurement error being one important reason, see Jorion (1985).”
Endogeneities of Optimum Currency Areas: What Brings Countries Sharing a Single Currency Closer Together? (2005, unknown): “There is an old literature from the sixties (see Tinbergen (1962), Poyhonen (1963) and Linnemann (1966), that looks at geographical distance as a determinant of international trade patterns.”
Information costs and home bias: an analysis of US holdings of foreign equities (2004, unknown): “…portfolios are skewed towards the equities of large firms (Kang and Stulz, 1997); information flows are an important determinant of cross-border equity transactions (Portes and Rey, 1999); and, even within countries, investors tend to hold stocks of local companies (Coval and Moskowitz, 1999).”
International Financial Integration (2003, unknown): “See Portes and Rey (2002) and Devereux and Lane (2003) on the determinants of bilateral financial flows.”
Information and capital flows: The determinants of transactions in financial assets (2001, methodology): “Our results support the hypothesis that informational asymmetries are responsible for the strong negative relationship between asset trade and distance.”
The Determinants of Cross-Border Equity Flows (2005, background): “This is a substantially revised version of Portes and Rey (1999).”
What determines the domestic bias and foreign bias (2005, background): “Portes and Rey (2000) find that the market size (equity market capitalization), openness (population or the ratio of total trade to GDP), efficiency of transactions (an index of sophistication of the financial market), and distance play a critical role in equity transaction flows between 14…”
Information Costs and Home Bias: An Analysis of U.S. Holdings of Foreign Equities (2001, unknown): “Portes and Rey (1999) provide evidence that information flows are an important determinant of crossborder equity transactions.”
International Investment Patterns (2008, unknown): “In common with others (e.g. Portes and Rey 2003), we include an array of gravity-type variables to proxy for information costs.”