Foreign institutional investment horizon and investment efficiency in emerging markets

Rehman U. Mian and Affan Mian

Economics Letters, 2023, vol. 232, issue C

Abstract: This paper examines whether foreign institutional investors’ investment horizon affects investment efficiency across 17 emerging markets. We find that long-term foreign institutional investors are associated with an enhancement in investment efficiency, particularly in firms susceptible to overinvestment and agency problems.

Keywords: Foreign institutional investors; Investment horizon; Investment efficiency; Emerging markets (search for similar items in EconPapers)
JEL-codes: G00 G31 G32 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:232:y:2023:i:c:s0165176523003658

DOI: 10.1016/j.econlet.2023.111340

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