We review the international finance literature to assess the extent to which international
factors affect financial asset demands and prices. International asset-pricing models with …

This article develops a model of international equity portfolio investment flows based on
differences in informational endowments between foreign and domestic investors. It is …

Many argue that home bias arises because home investors can predict home asset payoffs
more accurately than foreigners can. But why does global information access not eliminate …

We investigate whether domestic investors have an edge over foreign investors in trading
domestic stocks. Using Korean data, we show that foreign money managers pay more than …

This paper examines whether analysts resident in a country make more precise earnings
forecasts for firms in that country than non-resident analysts. Using a sample of 32 countries …

We use a new data set to study the determinants of the performance of open–end actively
managed equity mutual funds in 27 countries. We find that mutual funds underperform the …

The electronic trading system Xetra of the German Security Exchange provides a unique
data source on the equity trades of 756 professional traders located in 23 different cities and …

This paper presents an overview of the European mutual fund industry and investigates
mutual fund performance using a survivorship bias controlled sample of 506 funds from the …

Outlines previous research on the mutual fund industry and compares the characteristics of
the US and European mutual fund markets using the structure‐conduct‐performance …

This study was inspired by the observation that foreign financial service firms operating in
the City of London do not suffer the liability of foreignness to the extent suggested by theory …