| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16677 |
| 来源ID | Working Paper 16677 |
| U.S. International Equity Investment and Past and Prospective Returns | |
| Stephanie E. Curcuru; Charles P. Thomas; Francis E. Warnock; Jon Wongswan | |
| 发表日期 | 2011-01-13 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Counter to extant stylized facts, using newly available data on country allocations in U.S. investors' foreign equity portfolios we find that (i) U.S. investors do not exhibit returns-chasing behavior, but, consistent with partial portfolio rebalancing, tend to sell past winners; and (ii) U.S. investors increase portfolio weights on a country's equity market just prior to its strong performance, behavior inconsistent with an informational disadvantage. Over the past two decades, U.S. investors' foreign equity portfolios outperformed a value-weighted foreign benchmark by 160 basis points per year. |
| 主题 | International Economics ; International Factor Mobility ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Markets |
| URL | https://www.nber.org/papers/w16677 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574352 |
| 推荐引用方式 GB/T 7714 | Stephanie E. Curcuru,Charles P. Thomas,Francis E. Warnock,et al. U.S. International Equity Investment and Past and Prospective Returns. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16677.pdf（423KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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