Information Immobility and Foreign Portfolio Investment
نویسندگان
چکیده
منابع مشابه
An information-based trade off between foreign direct investment and foreign portfolio investment
The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI). FDI enables the owner to obtain refined information about the firm. This superiority, relative to FPI, comes with a cost: a firm owned by the FDI investor has a low resale price because of asymmetric information between the owner and potential buyers. The model can explain several stylized fa...
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ژورنال
عنوان ژورنال: Review of Financial Studies
سال: 2010
ISSN: 0893-9454,1465-7368
DOI: 10.1093/rfs/hhp116