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Learning Chinese? The changing investment behavior of foreign institutions in the Chinese stock market
,
Haizhi Wang,
Peng Wang
International Review of Financial Analysis, Volume: 64, Pages: 190 - 203
Swansea University Author:
Nader Virk
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© 2019 The Authors.This is an open access article under the CC BY-NC-ND license
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DOI (Published version): 10.1016/j.irfa.2019.05.011
Abstract
We analyze preferences of foreign institutional investors in the Chinese stock market in a sample that covers 2003 to 2014. We find that foreign investors changed their investment behavior during the sample period from generic patterns found in much of the world to China-specific patterns. The resul...
| Published in: | International Review of Financial Analysis |
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| ISSN: | 1057-5219 |
| Published: |
Elsevier BV
2019
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| Online Access: |
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| URI: | https://cronfa.swan.ac.uk/Record/cronfa58089 |
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| Abstract: |
We analyze preferences of foreign institutional investors in the Chinese stock market in a sample that covers 2003 to 2014. We find that foreign investors changed their investment behavior during the sample period from generic patterns found in much of the world to China-specific patterns. The results suggest that foreign institutions learned to adjust their investment behavior to account for unique features of the Chinese market. Rather than following the diversified portfolio approach, they follow investment strategies that focus on a limited number of firm features. |
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| Keywords: |
Foreign investor; Institutional investor; Qualified foreign institutional investor (QFII) scheme; China |
| College: |
Faculty of Humanities and Social Sciences |
| Start Page: |
190 |
| End Page: |
203 |