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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Main Authors: | , , , |
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Format: | text |
Language: | English |
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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 |