Empirical Determinants of US Equity Flows to Developed Countries: Does Valuation Matter?
This paper explores a new panel data set on US gross cross-border equity flows to 20 industrialized nations combined with measures of market valuation for the period of 1977-2005. Empirical evidence of imperfect integration across world equity markets indicates that valuation matters.Consistent with...
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| Format: | Article |
| Language: | English |
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Universiti Utara Malaysia
2009
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| Online Access: | https://repo.uum.edu.my/id/eprint/25082/1/IJBF%20%206%201%202009%2049%2066.pdf |