Institutional investors and home bias in Europe’s Capital Markets Union
Zsolt Darvas () and
Dirk Schoenmaker ()
Working Papers from Bruegel
Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete coverage because they consider only listed equities. We also consider unlisted equites and show that equity home bias is much higher than previous studies perceived. We also analyse home bias in debt securities holdings, and...
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Persistent link: https://EconPapers.repec.org/RePEc:bre:wpaper:19360
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