Access to information and international portfolio allocation

Research output: Contribution to journalArticlepeer-review

2 Citations (Scopus)


We examine whether foreign equity holdings of portfolio investors depend on the level of information accessibility between the investors’ home and host countries. Using a comprehensive data set, alternative measures of information accessibility and robust analytical techniques, we show that differences in access to cross-country information significantly influence investors’ portfolio allocation decisions. Furthermore, the results suggest that for a given level of access to information, investors prefer to invest more in countries with a higher quality of legal/macro-institutions. Finally, the findings also confirm that the implications of information accessibility are more pronounced when markets are turbulent.
Original languageEnglish
Pages (from-to)2255-2267
Number of pages13
JournalJournal of Banking and Finance
Issue number7
Early online date9 Feb 2013
Publication statusPublished - Jul 2013


  • accounting
  • access to information
  • international equity portfolio investments
  • panel data models
  • market condition


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