dc.contributor.author | Fjesme, Sturla Lyngnes | |
dc.date.accessioned | 2020-05-05T08:54:26Z | |
dc.date.accessioned | 2020-05-07T10:09:07Z | |
dc.date.available | 2020-05-05T08:54:26Z | |
dc.date.available | 2020-05-07T10:09:07Z | |
dc.date.issued | 2019-02-06 | |
dc.identifier.citation | Fjesme SLF. Foreign Market Portfolio Concentration and Performance. Financial Management. 2019 | en |
dc.identifier.issn | 0046-3892 | |
dc.identifier.issn | 0046-3892 | |
dc.identifier.issn | 1755-053X | |
dc.identifier.issn | 1755-053X | |
dc.identifier.uri | https://hdl.handle.net/10642/8521 | |
dc.description.abstract | Using security holdings of 49,857 foreign investors on the Oslo Stock Exchange (OSE), I test whether concentrated investment strategies in international markets result in excess risk‐adjusted returns. I find that investors with higher learning capacity increase returns, while investors with lower learning capacity decrease returns from the portfolio concentration. I measure learning capacity as institutional classification, geographical proximity to Norway, and cultural closeness to Norwegian investors (as based on the Hofstede cultural closeness measures). I conclude, consistent with the information advantage theory, that concentrated investment strategies in foreign markets can be optimal (disastrous) for investors with higher (lower) learning capacity. | en |
dc.language.iso | en | en |
dc.publisher | Wiley | en |
dc.relation.ispartofseries | Financial Management;Volume 49, Issue 1, Spring 2020 | |
dc.rights | This is the peer reviewed version of the following article: Fjesme, SL. Foreign market portfolio concentration and performance. Financial Management. 2020; 49: 161– 177,
which has been published in final form at DOI: https://dx.doi.org/10.1111/fima.12263. This article may be used for non-commercial purposes in accordance with Wiley Terms
and Conditions for Use of Self-Archived Versions. | en |
dc.subject | Foreign markets | en |
dc.subject | Portfolio concentrations | en |
dc.subject | Performances | en |
dc.subject | Norway | en |
dc.subject | Stock exchanges | en |
dc.title | Foreign Market Portfolio Concentration and Performance | en |
dc.type | Journal article | en |
dc.type | Peer reviewed | en |
dc.date.updated | 2020-05-05T08:54:26Z | |
dc.description.version | acceptedVersion | en |
dc.identifier.doi | https://dx.doi.org/10.1111/fima.12263 | |
dc.identifier.cristin | 1674561 | |
dc.source.journal | Financial Management | |