Download or read book Factors Affecting Investment Behaviour of Foreign Institutional Investors written by Mrunal Joshi and published by . This book was released on 2018 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Liberalization of economic policies in 1992 allowed foreign institutional investors investing in Indian capital markets. Though FII permitted to invest Indian stock markets in 1992, they actually started investing in India from 1997 and factual growth of FII investment came after 2002. Since then participation of FII in Indian stock market has continuously increased. They have emerged to be one of the largest investors and have acquired ownership of substantial proportion of non-promoter shares. They have also emerged to be dominant market players contributing very high proportion 41.73% of total stock exchange turnover of BSE and NSE combined. In Indian markets, FII are perceived to be very large and sophisticated investors with very high impact on stock market returns. Many investors and market participants tend to make their stock market strategy based on investment pattern of FII and base their stock market analysis on their perception about factors considered by FII in their investment decision. In this context this paper studies perception of market participants about major determinants of FII investment decision and extent to which investors are influenced by FII investment.
Download or read book Portfolio Preferences of Foreign Institutional Investors written by Reena Aggarwal and published by World Bank Publications. This book was released on 2003 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Investment Technology of Foreign and Domestic Institutional Investors in an Emerging Market written by Ila Patnaik and published by International Monetary Fund. This book was released on 2013-04-22 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on the investment technology of foreign versus domestic investors has inconclusive results. This paper revisits the question, with a focus on decomposing portfolio performance into asset allocation and security selection. We document signicant differences in exposure to systematic asset pricing factors between foreign and domestic investors. A quasi-experimental strategy is introduced, for comparing security selection after controlling for diferences in asset allocation. Our results show that foreign investors in India do remarkably poorly at security selection.
Download or read book Regional Trade and Development Strategies in the Era of Globalization written by Prabhakar, Akhilesh Chandra and published by IGI Global. This book was released on 2019-12-27 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite three decades of continuous globalization, transitional economies in many countries remain marginalized. In order to maximize the positive growth of employment creation opportunities in various sectors, including agriculture, existing patterns of long-run sustainable equilibrium relationships, technology transfers, and trade to promote export-led economic growth must be examined and identified. Regional Trade and Development Strategies in the Era of Globalization provides a comprehensive overview of globalization and regional initiative trends of trade and development through the examination of theoretical and practical experiences of their underpinning principles through approaches to overcome the obstacles of globalization and its positive and negative impacts on global trade and economic development. The content within this publication examines economic integration, foreign investment, and financial risk. It is designed for trade specialists, government officials, students, researchers, policymakers, business professionals, academicians, and economists.
Download or read book ESG and Responsible Institutional Investing Around the World A Critical Review written by Pedro Matos and published by CFA Institute Research Foundation. This book was released on 2020-05-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
Download or read book The Investment Behavior of Qualified Foreign Institutional Investors in China written by Ningyue Liu and published by . This book was released on 2018 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data from Chinese listed firms, this paper examines the investment behavior of Qualified Foreign Institutional Investors (QFIIs). QFIIs have a preference for large well known firms with some element of state ownership, lower liability levels and greater turnover capacity. Furthermore, the presence of QFIIs in Chinese firms is associated with better levels of corporate operating performance. We show that this positive relationship is more pronounced, the deeper the international investors commitment, in terms of investment size and horizon. Our results highlight the heterogeneity of foreign institutional investors and provide evidence to support the view that foreign institutional investors in emerging markets provide an important source of managerial oversight. Our results are particularly noteworthy given all QFII's in China represent small investors, with shareholdings below blockholder thresholds.
Download or read book Foreign Institutional Investors FIIs and Capital Market in India written by Kulwant Singh Phull and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1990s, one of the major forces changing the face and structure of international capital markets has been the flow of cross-border portfolio investments, especially by Foreign Institutional Investors (FIIs) from developed countries to the developing economies. Portfolio investors provide institutional character to the capital markets, flavored by highly intensive research and diversified investments. FIIs are specialized financial intermediaries managing savings collectively on behalf of investors, especially small investors, towards specific objectives in terms of risks, returns, and maturity of claims. FIIs make investments in various countries to provide a measure of portfolio diversification and hedging to their assets. The forces driving the recent change in the investment portfolio of FIIs - as reflected in the growing emphasis on equities of emerging market economies - include, inter alia: (a) increased accessibility of these markets after liberalization, (b) improved marketability, (c) fewer problems relating to thin trading, and (d) improved macroeconomic fundamentals of recipient countries. This book provides a detailed account and examination of various dimensions, determinants, deterrents, and other aspects of investment flows into India through FIIs.
Download or read book Global Investment Competitiveness Report 2019 2020 written by World Bank Group and published by World Bank Publications. This book was released on 2020-07-06 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Global Investment Competitiveness Report 2019-2020 provides novel analytical insights, empirical evidence, and actionable recommendations for governments seeking to enhance investor confidence in times of uncertainty. The report's findings and policy recommendations are organized around "3 ICs" - they provide guidance to governments on how to increase investments' contributions to their country's development, enhance investor confidence, and foster their economies' investment competitiveness. The report presents results of a new survey of more than 2,400 business executives representing FDI in 10 large developing countries: Brazil, China, India, Indonesia, Malaysia, Mexico, Nigeria, Thailand, Turkey, and Vietnam. The results show that over half of surveyed foreign businesses have already been adversely affected by policy uncertainty, experiencing a decrease in employment, firm productivity, or investment. Foreign investors report that supporting political environments, stable macroeconomic conditions, and conducive regulatory regimes are their top three investment decision factors. Moreover, the report's new global database of regulatory risk shows that predictability and transparency increase investor confidence and FDI flows. The report also assesses the impact of FD! on poverty, inequality, employment, and firm performance using evidence from various countries. It shows that FDI in developing countries yields benefits to their firms and citizens-including more and better-paid jobs-but governments need to be vigilant about possible adverse consequences on income distribution. The report is organized in S chapters: Chapter 1 presents the results of the foreign investor survey. Chapter 2 explores the differential performance and development impact of greenfield FDI, local firms acquired by multinational corporations {i.e. brownfield FDI), and domestically-owned firms using evidence from six countries. Chapter 3 assesses the impact of FDI on poverty, inequality, employment and wages, using case study evidence from Ethiopia, Turkey and Vietnam. Chapter 4 presents a new framework to measure FDI regulatory risk that is linked to specific legal and regulatory measures. Chapter S focuses on factors for increasing the effectiveness of investment promotion agencies.
Download or read book Foreign Institutional Investment Horizon and Investment Efficiency in Emerging Markets written by Rehman Uddin Mian and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether foreign institutional investors' investment horizon affects investment efficiency across 17 emerging markets. Using a sample of 10,360 firms, we find that long-term foreign institutional investors are associated with an enhancement in investment efficiency, particularly in firms susceptible to overinvestment and agency problems. We also show that the proximity advantage of local institutional investors in monitoring investment decisions does not extend to foreign institutional investors with a longer investment horizon in emerging countries.
Download or read book New Voices in Investment written by Maria Laura Gómez Mera and published by World Bank Publications. This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes the characteristics, motivations, strategies, and needs of FDI from emerging markets. It draws from a survey of investors and potential investors in Brazil, India, South Korea, and South Africa.
Download or read book Portfolio Preferences of Foreign Institutional Investors written by Reena Aggarwal and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines investment allocations in emerging markets by actively-managed U.S. mutual funds. We analyze both country- and firm-level characteristics and policies that influence these investment allocations. At the country-level, we find that U.S. funds invest more in open emerging markets with stronger shareholder rights, legal frameworks and accounting policies. After controlling for country characteristics, U.S. funds are found to invest more in large growing firms with high analyst following and policies such as ADR listing and more transparent accounting policies. The impact of ADR listing and better accounting policies is most pronounced in countries with weaker investor protection. Our results suggest that steps can be taken both at the country- and the firm-level to create an environment conducive to foreign institutional investment.
Download or read book Transparency and International Investor Behavior written by Gaston Gelos and published by International Monetary Fund. This book was released on 2002-10 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does country transparency affect international portfolio investment? We examine this and related questions using some new measures of transparency and a unique micro dataset on international portfolio holdings. We distinguish between government and corporate transparency. There is clear evidence that international funds invest systematically less in less transparent countries. On the other hand, herding among funds tends to be more prevalent in less transparent countries. There is also some evidence that during crises, funds flee non-transparent countries by a greater amount.
Download or read book Capital Inflows and Real Exchange Rate Appreciation in Latin America written by Guillermo A. Calvo and published by . This book was released on 1992 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dividend Policy and Stock Price Volatility written by David E. Allen and published by . This book was released on 1993 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bank based and Market based Financial Systems written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1999 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economics of Sovereign Wealth Funds written by Mr.Udaibir S. Das and published by International Monetary Fund. This book was released on 2010-12-09 with total page 330 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book covers a wide range of topics of relevance to policymakers in countries that have sovereign wealth funds (SWFs) and those that receive SWF investments. Renowned experts in the field have contributed chapters. The book is organized around four themes: (1) the role and macrofinancial linkages of SWFs, (2) institutional factors, (3) investment approaches and financial markets, and (4) the postcrisis outlook. The book also discusses the challenges facing sovereign wealth funds in the coming years, from an inside perspective on countries, including Canada, Chile, China, Norway, Russia, and New Zealand. Economics of Sovereign Wealth Funds will contribute to a further understanding of the nature, strategies and behavior of SWFs and the environment in which they operate, as their importance is likely to grow in the coming years.
Download or read book Herd Behavior in Financial Markets written by Sushil Bikhchandani and published by . This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
