Ancestry barriers to the cross-border diffusion of global market information

Anita Todea

Finance Research Letters, 2022, vol. 49, issue C

Abstract: Building ‘genetic distance from wealth’ we show that cross-border diffusion of global market information is strongly associated with ancestry barriers. The study was conducted on an unbalanced panel of 1768 stocks, from 43 countries, for the period 2004–2018. The results show that the stocks listed on stock markets whose populations are genetically far from ‘wealth’ incorporate with delay the global information. The portfolio foreign investments can mitigate this relationship only if they come from more financially educated investors than domestic ones.

Keywords: Price delay; Global market-wide information; Genetic distance; Portfolio foreign investments (search for similar items in EconPapers)
JEL-codes: G14 G15 O50 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:49:y:2022:i:c:s1544612322003749

DOI: 10.1016/j.frl.2022.103151

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