Foreign Portfolio Investors Before and during a Crisis:

Different categories of foreign portfolio investors in Korea have differences as well as similarities in their trading behavior before and during the currency crisis. First, non-resident institutional investors are always positive feedback traders, whereas resident investors were negative feedback (...

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Bibliographische Detailangaben
1. Verfasser: Kim, Woochan (VerfasserIn)
Weitere Verfasser: Wei, Shang-Jin (MitwirkendeR)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Paris OECD Publishing 1999
Schriftenreihe:OECD Economics Department Working Papers no.210
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Zusammenfassung:Different categories of foreign portfolio investors in Korea have differences as well as similarities in their trading behavior before and during the currency crisis. First, non-resident institutional investors are always positive feedback traders, whereas resident investors were negative feedback (contrarian) traders before the crisis but switch to be positive feedback traders during the crisis. Second, individual investors herd significantly more than institutional investors. Non-resident (institutional as well individual) investors herd significantly more than their resident counterparts. Third, differences in the Western and Korean news coverage are correlated with differences in net selling by non-resident investors relative to resident investors ...
Beschreibung:1 Online-Ressource (29 p.) 21 x 29.7cm.
DOI:10.1787/522265260065

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