Does Geography Still Matter ? Evidence on the Portfolio Turnover of Large Equity Investors and Varieties of Capitalism ? - Archive ouverte HAL
Journal Articles Economic Geography Year : 2010

Does Geography Still Matter ? Evidence on the Portfolio Turnover of Large Equity Investors and Varieties of Capitalism ?

Abstract

This article investigates the geography of finance through a study of the behavior of large equity investors who are key actors in capitalism. The main argument is based on their expectations in "finance-driven" capitalism: large equity investors require high returns on invested capital in a shorter time and are said to be impatient. The article focuses on their portfolio turnover in relation to geographic factors and their attachment to a specific model of capitalism. The U.S. "market-based" model is presented as a benchmark, since U.S. investors trade securities most frequently relative to other international equity investors. Our empirical findings on the proximity of investors in various models of capitalism with U.S. "impatient" investors contribute to a growing literature on the economic importance of geography in understanding global finance.

Dates and versions

halshs-00844441 , version 1 (15-07-2013)

Identifiers

Cite

Claude Dupuy, Stéphanie Lavigne, Dalila Nicet-Chenaf. Does Geography Still Matter ? Evidence on the Portfolio Turnover of Large Equity Investors and Varieties of Capitalism ?. Economic Geography, 2010, 86 (1), pp.75-98. ⟨10.1111/j.1944-8287.2009.01055.x⟩. ⟨halshs-00844441⟩
152 View
0 Download

Altmetric

Share

More