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dc.contributor.authorGiofré, Maelaen_US
dc.date.accessioned2010-07-02en_US
dc.date.accessioned2010-08-18T11:17:35Z-
dc.date.available2010-08-18T11:17:35Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/38884-
dc.description.abstractDifferent investor classes are endowed with different rights, and conflicting interests among them can make protections afforded to one party detrimental to another. Indeed, we find that investor protection laws have sizeable 'cross' effects on foreign portfolio investment and the direction of these effects supports the conjecture that foreign stakeholders are more sensitive to the perceived riskiness of assets than domestic investors. Specifically, we find that strong protection of creditor rights - limiting excessive risk taking - positively affects foreign shareholders, whereas strong protection of shareholder rights - potentially shifting firms toward riskier projects - negatively impacts foreign bondholders.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper Monetary Policy and International Finance 3102en_US
dc.subject.jelG11en_US
dc.subject.jelG15en_US
dc.subject.jelG30en_US
dc.subject.ddc330en_US
dc.subject.keywordinternational portfolio investmentsen_US
dc.subject.keywordinvestor protectionen_US
dc.subject.keywordbondholders-shareholders conflictsen_US
dc.subject.stwPortfolio-Investitionen_US
dc.subject.stwAnlegerschutzen_US
dc.subject.stwGläubigerschutzen_US
dc.subject.stwStakeholderen_US
dc.subject.stwSchätzungen_US
dc.subject.stwIndustriestaatenen_US
dc.titleInvestor protection and foreign stakeholdersen_US
dc.typeWorking Paperen_US
dc.identifier.ppn630511799en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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