The Liability of Foreignness in International Equity Investments: Evidence from the U.S. Stock Market

Using foreign institutional ownership data in the US from 1990 to 2007, we examine whether foreign institutional investors face liabilities of foreignness (LOF) in the US stock market. We find that foreign institutional investors prefer low information asymmetry stocks more than domestic institution...

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Bibliographic Details
Main Authors: BAIK, Bok, KANG, Jun-Koo, KIM, Jin-Mo, LEE, Joonho
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2013
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Online Access:https://ink.library.smu.edu.sg/soa_research/1110
https://ink.library.smu.edu.sg/context/soa_research/article/2109/viewcontent/2013_JIBS_foreign_20institutions.pdf
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Institution: Singapore Management University
Language: English