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150128 ||| eng |
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|a 9781484335567
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| 100 |
1 |
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|a Patnaik, Ila
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| 245 |
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|a The Investment Technology of Foreign and Domestic Institutional Investors in an Emerging Market
|c Ila Patnaik, Ajay Shah
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2013
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| 300 |
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|a 38 pages
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| 700 |
1 |
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|a Shah, Ajay
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
5 |
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|a 10.5089/9781484335567.001
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| 856 |
4 |
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|u http://elibrary.imf.org/view/journals/001/2013/090/001.2013.issue-090-en.xml
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a The literature on the investment technology of foreign versus domestic investors has inconclusive results. This paper revisits the question, with a focus on decomposing portfolio performance into asset allocation and security selection. We document signicant differences in exposure to systematic asset pricing factors between foreign and domestic investors. A quasi-experimental strategy is introduced, for comparing security selection after controlling for diferences in asset allocation. Our results show that foreign investors in India do remarkably poorly at security selection
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