Gravity and culture in foreign portfolio investment

Raj  Aggarwal; Colm  Kearney; Brian Lucey

doi:10.1016/j.jbankfin.2011.08.007

Gravity and culture in foreign portfolio investment

Raj Aggarwal, Colm Kearney, Brian Lucey

GSBS School Office

Research output: Contribution to journal › Article › peer-review

128 Citations (Scopus)

Abstract

Using panel regression estimates from the IMF’s CPIS survey of foreign debt and equity portfolios across 174 originating and 50 destination countries from 2001 to 2007, we clarify the role of culture and extend the set of cultural variables that have been investigated in gravity models of foreign portfolio investment (FPI).

Original language	English
Pages (from-to)	525–538
Number of pages	14
Journal	Journal of Banking and Finance
Volume	36
Issue number	2
DOIs	https://doi.org/10.1016/j.jbankfin.2011.08.007
Publication status	Published - Feb 2012

Keywords

banking
finance
foreign portfolio investment

Documents and Links

10.1016/j.jbankfin.2011.08.007

Cite this

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title = "Gravity and culture in foreign portfolio investment",

abstract = "Using panel regression estimates from the IMF{\textquoteright}s CPIS survey of foreign debt and equity portfolios across 174 originating and 50 destination countries from 2001 to 2007, we clarify the role of culture and extend the set of cultural variables that have been investigated in gravity models of foreign portfolio investment (FPI). ",

keywords = "banking, finance, foreign portfolio investment",

author = "Raj Aggarwal and Colm Kearney and Brian Lucey",

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language = "English",

volume = "36",

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AU - Aggarwal, Raj

AU - Kearney, Colm

AU - Lucey, Brian

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AB - Using panel regression estimates from the IMF’s CPIS survey of foreign debt and equity portfolios across 174 originating and 50 destination countries from 2001 to 2007, we clarify the role of culture and extend the set of cultural variables that have been investigated in gravity models of foreign portfolio investment (FPI).

KW - banking

KW - finance

KW - foreign portfolio investment

U2 - 10.1016/j.jbankfin.2011.08.007

DO - 10.1016/j.jbankfin.2011.08.007

M3 - Article

SN - 1872-6372

VL - 36

SP - 525

EP - 538

JO - Journal of Banking and Finance

JF - Journal of Banking and Finance

IS - 2

ER -

Gravity and culture in foreign portfolio investment

Abstract

Keywords

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