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Le Biais Domestique : Concept, Mesure et Explications

Author

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  • Mohamed El Hedi Arouri

    (LEO - Laboratoire d'économie d'Orleans [2008-2011] - UO - Université d'Orléans - CNRS - Centre National de la Recherche Scientifique, EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique)

Abstract

Le biais domestique est défini par l'écart entre les parts d'actifs étrangers prédites par la théorie de portefeuilles et les parts effectivement investies dans les titres étrangers. Cet article présente une quantification de la préférence pour les titres domestiques ainsi qu'une analyse critique des explications le plus souvent avancées dans la littérature des marchés financiers du manque de diversification internationale de portefeuilles. Si les explications d'ordre institutionnel paraissent insuffisantes, les facteurs comportementaux et le risque de change suscitent plus d'approfondissement.

Suggested Citation

  • Mohamed El Hedi Arouri, 2008. "Le Biais Domestique : Concept, Mesure et Explications," Working Papers halshs-00204103, HAL.
    • Handle: RePEc:hal:wpaper:halshs-00204103
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00204103
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