We document that governments whose local currency debt provides them with greater
hedging benefits actually borrow more in foreign currency. We introduce two features into a …

I establish three stylized facts about global equity and bond return comovements: Equity
return correlations are higher, asymmetric, and countercyclical, whereas bond return …

This study uses a large sample of international stocks to examine the sources of the benefits
of international portfolio diversification. It finds not only that international diversification …

The purpose of this study is to investigate the comparative impact of conventional and
Islamic bonds over returns. It provides useful insights to investors to diversify investment by …

Purpose On the backdrop of growing importance of Shariah compliant equity markets, the
purpose of this paper is to study cross-country portfolio diversification benefits for investors …

Using a large sample of stocks from 48 developed and emerging markets over 1995 to
2021, we find evidence that suggests that international diversification is the best risk …

We examine the investment performance of Chilean pension funds during their multi-fund
period (2003–17). Using tradable asset class benchmarks, we extend Sharpe's (1992) …

Since the 1990s, there has been a simultaneous rise in cross-country stock market
correlations and FDI positions. We establish an empirical relationship between these two, for …

Equity investors exhibit home bias although they can reduce risk with diversified global
portfolios. We studied 118 years of data for 21 developed markets to investigate …

The distinction between domicile and place of business is becoming more and more
relevant as a growing number of firms have activities abroad. In most statistical studies of …