This paper studies the trading behavior and performance of foreign investors with different management styles. The analysis uses a comprehensive Colombian data with complete transaction records and unique investor identification, and finds that the aggregate under-performance of foreign investors is attributable to foreign passive funds, that is, those that replicate a benchmark index. These funds pay higher prices to increase the speed of their trades...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2017/03/13
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Рабочий документ в рамках исследования вопросов политики
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WPS8002
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1
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1
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2017/03/13
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Disclosed
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Do foreign investors underperform ? An empirical decomposition into style and flows
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Finance & Private Sector Development
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