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The role of U.S. Investors in international equity market inflows, outflows, and net flows for selected emerging asian markets

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  • Peggy Swanson
  • Anchor Lin

Abstract

This paper investigates the relationship between international equity flows and returns in the eight largest emerging Asian markets from 1988 through March 2002. Both the feedback-trading hypothesis, which states that past returns affect flows, and the information hypothesis, which states that flows affect returns, are tested. Volatility effects are included, and effects of the 1997 Asian crisis on the relationships are also studied. While past studies have focused on net flows, this paper investigates outflows and inflows separately to determine whether their behavior patterns follow those of net flows. Copyright Springer 2003

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  • Peggy Swanson & Anchor Lin, 2003. "The role of U.S. Investors in international equity market inflows, outflows, and net flows for selected emerging asian markets," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 27(3), pages 300-320, September.
    • Handle: RePEc:spr:jecfin:v:27:y:2003:i:3:p:300-320
    DOI: 10.1007/BF02761568
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    References listed on IDEAS

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    1. Fotini Economou & Konstantinos Gavriilidis & Bartosz Gebka & Vasileios Kallinterakis, 2022. "Feedback trading: a review of theory and empirical evidence," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 15(4), pages 429-476, February.

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