Institutional quality: Another brick in the wall of the determinants of debt investment
Autor(a) principal: | |
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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. |
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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 |
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1799137883059126272 |