Financial education, investor protection and international portfolio diversification

Maela Giofre' ()

Journal of International Money and Finance, 2017, vol. 71, issue C, 111-139

Abstract: This paper investigates the effect of financial education on foreign portfolio investment. We show that higher investor financial education fosters international diversification, and that its role is particularly pronounced where information problems and monitoring costs are likely to be more severe, that is, in countries where protection of minority shareholders' rights is weaker.

Keywords: Financial education; Home bias; International portfolio investments; Investor protection legislation (search for similar items in EconPapers)
JEL-codes: G11 G15 G30 (search for similar items in EconPapers)
Date: 2017
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Working Paper: Financial education, investor protection and international portfolio diversification (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jimfin:v:71:y:2017:i:c:p:111-139

DOI: 10.1016/j.jimonfin.2016.11.004

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