Portfolio Preferences of Foreign Institutional Investors - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Portfolio Preferences of Foreign Institutional Investors write by Reena Aggarwal. This book was released on 2003. Portfolio Preferences of Foreign Institutional Investors available in PDF, EPUB and Kindle.
Portfolio Preferences of Foreign Institutional Investors
Portfolio Preferences of Foreign Institutional Investors - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Portfolio Preferences of Foreign Institutional Investors write by Reena Aggarwal. This book was released on 2012. Portfolio Preferences of Foreign Institutional Investors available in PDF, EPUB and Kindle. 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.
Pioneering Portfolio Management
Pioneering Portfolio Management - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Pioneering Portfolio Management write by David F. Swensen. This book was released on 2009-01-06. Pioneering Portfolio Management available in PDF, EPUB and Kindle. In the years since the now-classic Pioneering Portfolio Management was first published, the global investment landscape has changed dramatically -- but the results of David Swensen's investment strategy for the Yale University endowment have remained as impressive as ever. Year after year, Yale's portfolio has trumped the marketplace by a wide margin, and, with over $20 billion added to the endowment under his twenty-three-year tenure, Swensen has contributed more to Yale's finances than anyone ever has to any university in the country. What may have seemed like one among many success stories in the era before the Internet bubble burst emerges now as a completely unprecedented institutional investment achievement. In this fully revised and updated edition, Swensen, author of the bestselling personal finance guide Unconventional Success, describes the investment process that underpins Yale's endowment. He provides lucid and penetrating insight into the world of institutional funds management, illuminating topics ranging from asset-allocation structures to active fund management. Swensen employs an array of vivid real-world examples, many drawn from his own formidable experience, to address critical concepts such as handling risk, selecting advisors, and weathering market pitfalls. Swensen offers clear and incisive advice, especially when describing a counterintuitive path. Conventional investing too often leads to buying high and selling low. Trust is more important than flash-in-the-pan success. Expertise, fortitude, and the long view produce positive results where gimmicks and trend following do not. The original Pioneering Portfolio Management outlined a commonsense template for structuring a well-diversified equity-oriented portfolio. This new edition provides fund managers and students of the market an up-to-date guide for actively managed investment portfolios.
Institutional Investors In Global Capital Markets
Institutional Investors In Global Capital Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Institutional Investors In Global Capital Markets write by Narjess Boubakri. This book was released on 2011-09-27. Institutional Investors In Global Capital Markets available in PDF, EPUB and Kindle. Examines various issues concerning the strategies of institutional investors, the role of institutional investors in corporate governance, their impact on local and international capital markets, as well as the emergence of sovereign and other asset management funds and their interactions with micro and macro economic and market environments.
ESG and Responsible Institutional Investing Around the World: A Critical Review
ESG and Responsible Institutional Investing Around the World: A Critical Review - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook ESG and Responsible Institutional Investing Around the World: A Critical Review write by Pedro Matos. This book was released on 2020-05-29. ESG and Responsible Institutional Investing Around the World: A Critical Review available in PDF, EPUB and Kindle. 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.
