Foreign shareholding: A decomposition analysis
Ajay Shah () and
Ila Patnaik ()
Working Papers from National Institute of Public Finance and Policy
Stulz (2005) has emphasised that for home bias to decline, insiders have to reduce ownership so as to make purchase of shares by foreigners possible. We offer a decomposition in the ownership of shares by foreigners into three parts: the change in insider shareholding, the change in market capitalisation and the change in the fraction of outside shareholding that is held by foreigners. As an example, this decomposition is applied to help understand the sharp change in foreign ownership of Indian firms after 2001.
Keywords: Home bias; Foreign investors (search for similar items in EconPapers)
JEL-codes: G1 G15 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fmk and nep-ifn
Note: Working Paper 74, 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 401 Unauthorized
Journal Article: Foreign shareholding: a decomposition analysis (2011)
Working Paper: Foreign Shareholding: A Decomposition Analysis (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:npf:wpaper:10/74
Access Statistics for this paper
More papers in Working Papers from National Institute of Public Finance and Policy
Bibliographic data for series maintained by S.Siva Chidambaram ().