Information immobility, industry concentration, and institutional investors' performance

Fedenia, Mark; Shaffer, Sherrill; Skiba, Hilla

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Information immobility, industry concentration, and institutional investors' performance

Date

2013

Authors

Fedenia, Mark

Shaffer, Sherrill

Skiba, Hilla

Publisher

Elsevier

Abstract

This paper examines foreign institutional investors' portfolio allocation and performance in US securities. We test how information immobility, proxied by information barriers between the investors' home markets and the US, influences portfolio strategies