| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29280 |
| 来源ID | Working Paper 29280 |
| Political Ideology and International Capital Allocation | |
| Elisabeth Kempf; Mancy Luo; Larissa Schäfer; Margarita Tsoutsoura | |
| 发表日期 | 2021-09-27 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Does investors' political ideology shape international capital allocation? We provide evidence from two settings–syndicated corporate loans and equity mutual funds–to show ideological alignment with foreign governments affects the cross-border capital allocation by U.S. institutional investors. Ideological alignment on both economic and social issues plays a role. Our empirical strategy ensures direct economic effects of foreign elections or government ties between countries are not driving the result. Ideological distance between countries also explains variation in bilateral investment. Combined, our findings imply ideological alignment is an important, omitted factor in models of international capital allocation. |
| 主题 | Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Markets ; Financial Institutions |
| URL | https://www.nber.org/papers/w29280 |
| 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/586954 |
| 推荐引用方式 GB/T 7714 | Elisabeth Kempf,Mancy Luo,Larissa Schäfer,et al. Political Ideology and International Capital Allocation. 2021. |
| 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 | ||
| w29280.pdf（785KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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