Do Domestic Investors Have an Information Advantage? Evidence from Indonesia

By Tomáš Dvořák. 2005

603 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/e4996e1b561b35f5df3e7d8905e2f660822001c0

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Citations in the corpus

Do Foreigners Facilitate Information Transmission in Emerging Markets (2012, positive): “better than foreign traders (Hau, 2001; Choe, Kho, and Stulz, 2005; Dvorak, 2005).”
Informed trading in the index option market: The case of KOSPI 200 options (2008, background): “…(2008) ﬁnd evidence suggesting that foreigners have an information advantage over domestic investors, Hau (2001), Choe, Kho, and Stulz (2005), and Dvorak (2005) report the opposite results. to obtain news on local ﬁrms, a foreign investor might need to subscribe to a local news service…”
Do Implicit Barriers Matter for Globalization (2013, positive): “Many papers show that local investors have an information advantage relative to foreign investors, see for example, Kang and Stulz (1997), Portes and Rey (2005), Choe, Kho, and Stulz (2005), and Dvorak (2005). There is also theoretical and empirical evidence that information asymmetry is priced in i”
Subjective measures of risk aversion, fixed costs, and portfolio choice (2011, neutral): “…(La Porta et al., 1999; Dahlquist et al., 2003; Stulz, 2005), informational costs and asymmetries (Ahearne et al., 2004; Choe et al., 2005; Dvorak, 2005), transparency in international markets (Gelon and Wei, 2005), trust (Guiso et al., 2008), real exchange rate volatility (Fidora et al.,…”
Home Bias in International Equity Portfolios: A Review (2007, methodology): “For example, Hau (2001) using German data, Dvorak (2005) using Indonesian data, and Choe, Kho and Stulz (2005) using Korean data, find that domestic investors realize higher profits than foreign investors.”
Institutional Portfolio Flows and International Investments (2008, result): “The information view stands in contrast with evidence that finds that domestic investors are better informed than foreign investors (see Kang and Stulz, 1997; Choe, Kho, and Stulz, 1999, 2001; Griffin, Nardari, and Stulz, 2004; Dvorak, 2005).”
Do Locals Know Better? A Comparison of the Performance of Local and Foreign Institutional Investors (2017, background): “2 Stulz (2005) in Korea; Dvorak (2005) in Indonesia; and Teo (2009) in Asia.”
The Pecking Order of Cross-Border Investment (2006, background): “Informational advantages of domestic investors are also found by Choe, Khoe and Stulz (2004) for the case of Korea and Dvorak (2005) for Indonesia.”
Do Domestic Investors Have an Edge? The Trading Experience of Foreign Investors in Korea (2005, positive): “Interestingly, when Dvorak (2005) implements our approach for Indonesia, he also finds that foreign investors are at a disadvantage.”
The Geography of Hedge Funds (2009, background): “Choe, Kho, and Stulz (2005) and Dvorak (2005) provide evidence that foreigners underperform other investors in Korea and Indonesia, respectively.”