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dc.contributor.authorPedraza, Álvaro
dc.contributor.authorPulga, Fredy †
dc.contributor.authorVasquez, Jose
dc.date.accessioned08/02/2020 10:55
dc.date.available08/02/2020 10:55
dc.date.issued2018-05-30
dc.identifier.otherhttps://www.eafit.edu.co/escuelas/economiayfinanzas/noticias-eventos/Paginas/costly-index-investing-in-foreign-markets.aspx
dc.identifier.urihttp://hdl.handle.net/10818/42620
dc.description44 páginases_CO
dc.description.abstractWe study trading behavior and performance of foreign investors by management style. Using a comprehensive Colombian data set with complete transaction records and unique investor identification, we find that aggregate underperformance of foreign investors is attributable to foreign-passive funds. These funds pay higher prices to increase the speed of their trades in order to accommodate daily flows proportionally to their benchmark index. Higher transaction costs occur on days when they trade multiple stocks in the same direction and make large trades near market closing. The findings highlight the potential costs of index investing in developing countries or in securities with low trading activity.en
dc.formatapplication/pdfes_CO
dc.language.isoenges_CO
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.sourceUniversidad de La Sabanaes_CO
dc.sourceIntellectum Repositorio Universidad de La Sabanaes_CO
dc.subject.otherForeing investorsen
dc.subject.otherIndex fundsen
dc.subject.otherPerformanceen
dc.subject.otherTransactional dataen
dc.titleCostly Index Investing in Foreign Marketsen
dc.typejournal articlees_CO
dc.type.hasVersionpublishedVersiones_CO
dc.rights.accessRightsopenAccesses_CO


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