The Volatility of Foreign Portfolio Investment and the Access to Finance of Small Listed Firms

被引：2
|
作者：
Knill, April [1 ]
Lee, Bong Soo [1 ]
机构：
[1] Florida State Univ, Tallahassee, FL 32306 USA
来源：
REVIEW OF DEVELOPMENT ECONOMICS | 2014年 / 18卷 / 03期
关键词：
DEVELOPING-COUNTRIES; LIBERALIZATION; MARKETS; EQUITY; CRISES; COST; CONSTRAINTS; DISTRESS; GROWTH;
D O I：
10.1111/rode.12101
中图分类号：
F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];
学科分类号：
0201 ; 020105 ; 03 ; 0303 ;
摘要：
This paper examines the impact of foreign portfolio investment (FPI) volatility on the access to capital of small listed firms. The volatility of FPI is significantly associated with decreased access to finance for small listed firms only in years when nations are considered less "creditworthy." Even in these times, however, the benefits of FPI are not completely depleted. These results underscore the significance of both a good financial system that minimizes capital flow volatility and national creditworthiness in inspiring confidence in foreign investors.
引用
收藏
页码：524 / 542
页数：19
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