IDEAS home Printed from https://ideas.repec.org/p/bre/wpaper/19360.html
   My bibliography  Save this paper

Institutional investors and home bias in Europe’s Capital Markets Union

Author

Listed:
  • Zsolt Darvas
  • Dirk Schoenmaker

Abstract

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...

Suggested Citation

  • Zsolt Darvas & Dirk Schoenmaker, 2017. "Institutional investors and home bias in Europe’s Capital Markets Union," Working Papers 19360, Bruegel.
    • Handle: RePEc:bre:wpaper:19360
    as

    Download full text from publisher

    File URL: https://www.bruegel.org/wp-content/uploads/2017/03/WP-2017_02-1.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Predrag Bejakovic & Zeljko Mrnjavac, 2020. "Fully Funded Pension System In Six Non Eu Balkan Countries," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 29(1), pages 101-121, june.
    2. Ben Le, 2020. "New evidence for the determinants of foreign investment in an Asian market," Afro-Asian Journal of Finance and Accounting, Inderscience Enterprises Ltd, vol. 10(2), pages 151-167.
    3. Giovannini, Alessandro & Ioannou, Demosthenes & Stracca, Livio, 2022. "Public and private risk sharing: friends or foes? The interplay between different forms of risk sharing," Occasional Paper Series 295, European Central Bank.
    4. Rolf Strauch & Saioa Armendáriz & Angel Gavilán & Ricardo Sousa & John Berrigan & Dirk Schoenmaker & Rick Watson & Paul Richards, 2018. "Cross-border capital flows and capital markets union: Quo vadis Europe?," Discussion Papers 3, European Stability Mechanism, revised 27 Oct 2021.
    5. Amariei, Cosmina, 2020. "Asset Allocation in Europe: Reality vs. Expectations," ECMI Papers 27304, Centre for European Policy Studies.
    6. Curatola, Giuliano & Dergunov, Ilya, 2023. "International capital markets with interdependent preferences: Theory and empirical evidence," Journal of Economic Behavior & Organization, Elsevier, vol. 212(C), pages 403-421.
    7. Christian Beer & Walter Waschiczek, 2018. "Capital markets union: a more diverse financial landscape in the EU?," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue Q2/18, pages 71-86.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bre:wpaper:19360. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bruegel (email available below). General contact details of provider: https://edirc.repec.org/data/bruegbe.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.