Institutional quality: Another brick in the wall of the determinants of debt investment

Detalhes bibliográficos
Autor(a) principal: Correia, Filipe Peças
Data de Publicação: 2016
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/18896
Resumo: Motivated by the negative yields in the market, we explore the possibility of a cross country payment of a premium for having money in an institutionally safer place. Using data on the portfolio investment from 78 countries in 208 countries during 10 years, and defining an innovative measure of institutional quality based on the World Governance Indicators, we study the statistical relationship between institutions and debt markets. Departing from a mean-variance allocation setting, we find that institutional quality matters when talking about attracting debt portfolio investment between countries, even though this allocation shows to be persistent over time.
id RCAP_fc3eb5b02820a5ff43cb0a0f0b58586f
oai_identifier_str oai:run.unl.pt:10362/18896
network_acronym_str RCAP
network_name_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository_id_str 7160
spelling Institutional quality: Another brick in the wall of the determinants of debt investmentDebt investmentInstitutional qualityCountriesInvestor behaviorDomínio/Área Científica::Ciências Sociais::Economia e GestãoMotivated by the negative yields in the market, we explore the possibility of a cross country payment of a premium for having money in an institutionally safer place. Using data on the portfolio investment from 78 countries in 208 countries during 10 years, and defining an innovative measure of institutional quality based on the World Governance Indicators, we study the statistical relationship between institutions and debt markets. Departing from a mean-variance allocation setting, we find that institutional quality matters when talking about attracting debt portfolio investment between countries, even though this allocation shows to be persistent over time.Pereira, João PedroRUNCorreia, Filipe Peças2016-08-22T14:21:07Z2016-062016-062016-06-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/18896TID:201526298enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T03:58:39Zoai:run.unl.pt:10362/18896Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:25:06.842349Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Institutional quality: Another brick in the wall of the determinants of debt investment
title Institutional quality: Another brick in the wall of the determinants of debt investment
spellingShingle Institutional quality: Another brick in the wall of the determinants of debt investment
Correia, Filipe Peças
Debt investment
Institutional quality
Countries
Investor behavior
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Institutional quality: Another brick in the wall of the determinants of debt investment
title_full Institutional quality: Another brick in the wall of the determinants of debt investment
title_fullStr Institutional quality: Another brick in the wall of the determinants of debt investment
title_full_unstemmed Institutional quality: Another brick in the wall of the determinants of debt investment
title_sort Institutional quality: Another brick in the wall of the determinants of debt investment
author Correia, Filipe Peças
author_facet Correia, Filipe Peças
author_role author
dc.contributor.none.fl_str_mv Pereira, João Pedro
RUN
dc.contributor.author.fl_str_mv Correia, Filipe Peças
dc.subject.por.fl_str_mv Debt investment
Institutional quality
Countries
Investor behavior
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Debt investment
Institutional quality
Countries
Investor behavior
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description Motivated by the negative yields in the market, we explore the possibility of a cross country payment of a premium for having money in an institutionally safer place. Using data on the portfolio investment from 78 countries in 208 countries during 10 years, and defining an innovative measure of institutional quality based on the World Governance Indicators, we study the statistical relationship between institutions and debt markets. Departing from a mean-variance allocation setting, we find that institutional quality matters when talking about attracting debt portfolio investment between countries, even though this allocation shows to be persistent over time.
publishDate 2016
dc.date.none.fl_str_mv 2016-08-22T14:21:07Z
2016-06
2016-06
2016-06-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/18896
TID:201526298
url http://hdl.handle.net/10362/18896
identifier_str_mv TID:201526298
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
_version_ 1799137883059126272

Registros relacionados