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April M Knill - One of the best experts on this subject based on the ideXlab platform.

  • The Volatility of Foreign Portfolio Investment and the Access to Finance of Small Listed Firms
    Review of Development Economics, 2014
    Co-Authors: April M Knill, Bong-soo Lee
    Abstract:

    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.

  • Does Foreign Portfolio Investment Reach Small Listed Firms
    European Financial Management, 2013
    Co-Authors: April M Knill
    Abstract:

    Using a unique dataset, the author examines the impact of Foreign Portfolio Investment on the capital issuance behavior of small listed firms. The author finds that Foreign Portfolio Investment is associated with an increased probability of small firm security issuance in all nations, regardless of property rights development. Evidence suggests the mechanism by which this occurs is a freeing up of capital in domestic markets when large firms utilize the Foreign Investment directly. Debt levels in nations where property rights are more developed increase, suggesting that Foreign Portfolio Investment may reach small firms through the banking channel as well as capital markets in these nations.

  • does Foreign Portfolio Investment reach small listed firms does Foreign Portfolio Investment reach small listed firms
    European Financial Management, 2013
    Co-Authors: April M Knill
    Abstract:

    Using a unique dataset, the author examines the impact of Foreign Portfolio Investment on the capital issuance behavior of small listed firms. The author finds that Foreign Portfolio Investment is associated with an increased probability of small firm security issuance in all nations, regardless of property rights development. Evidence suggests the mechanism by which this occurs is a freeing up of capital in domestic markets when large firms utilize the Foreign Investment directly. Debt levels in nations where property rights are more developed increase, suggesting that Foreign Portfolio Investment may reach small firms through the banking channel as well as capital markets in these nations.

  • does Foreign Portfolio Investment reach small listed firms
    European Financial Management, 2013
    Co-Authors: April M Knill
    Abstract:

    Because investors generally choose to invest in large firms when investing internationally, it is not immediately obvious whether small listed firms would benefit from Foreign Portfolio Investment. A capital infusion of this form could either serve to alleviate constrained capital markets or make large firms stronger, increasing competition and crowding out small firms. In this paper, I examine the impact of Foreign Portfolio Investment on the capital issuance behaviour of small listed firms. I find that Foreign Portfolio Investment (scaled by gross domestic product) is associated with an increased probability of small firm security issuance in all nations, regardless of property rights development. Evidence suggests that the mechanism by which this occurs is a freeing up of capital in domestic markets when large firms utilise Foreign Investment directly. Long-term debt levels increase in nations where property rights are more developed, suggesting that Foreign Portfolio Investment may reach small firms through the banking channel as well in these nations. The banking channel results, however, are somewhat sensitive to the definition of Foreign Portfolio Investment.

  • Taking The Bad With The Good : Volatility Of Foreign Portfolio Investment And Financial Constraints Of Small Firms - Taking the Bad with the Good: Volatility of Foreign Portfolio Investment and Financial Constraints of Small Firms
    Policy Research Working Papers, 2005
    Co-Authors: April M Knill
    Abstract:

    The author examines the impact of the volatility of Foreign Portfolio Investment on the financial constraints of small firms. Using a dataset of over 195,000 firm-year observations across 53 countries, she examines the impact of Foreign Portfolio Investment instability on capital issuance and firm growth across countries and firm characteristics, in particular size. After controlling for the endogeneity of Foreign Portfolio Investment instability, as well as for firm-, industry-, and country-level characteristics such as GDP growth, as well as the levels of Foreign Portfolio and direct Investment, the author finds that the volatility of Foreign Portfolio Investment is only significantly associated with a decreased ability to issue publicly-traded securities for small firms in years when nations are considered less"creditworthy."The volatility of Foreign Portfolio Investment only hinders the growth of small firms significantly in periods when nations are deemed less"creditworthy."These results underscore both the significance of a good financial system that minimizes capital flow volatility, as well as the influence of property rights and country creditworthiness to instill confidence in Foreign investors.

Irwan Adi Ekaputra - One of the best experts on this subject based on the ideXlab platform.

Shujahat Haider Hashmi - One of the best experts on this subject based on the ideXlab platform.

  • the impact of stock market performance on Foreign Portfolio Investment in china
    International Journal of Economics and Financial Issues, 2017
    Co-Authors: Muhammad Afaq Haider, Muhammad Asif Khan, Shamila Saddique, Shujahat Haider Hashmi
    Abstract:

    The research is aimed at investigating the impact of stock market performance and inflation on Foreign Portfolio Investment (FPI) in China. For this purpose, time series quarterly data from 2007Q1 to 2015Q4 is used. On the basis of stationarity results, ARDL model is used to examine the impact of the stock market prices and inflation on FPI. The results show that there is significant positive impact of stock market performance on the FPI, whereas inflation is found to be negatively associated with the FPI. The study also reveals that some historical events like Asian financial crisis of 2008, and the Shanghai Composite Stock Index crash of 2015, significantly affected the Foreign Portfolio Investment in China. The investors should consider these two factors while investing in Foreign financial markets. Keywords : Stock Market Performance, Inflation, FPI, China JEL Classifications: F21, G11, O16, P45

  • The Impact of Stock Market Performance on Foreign Portfolio Investment in China
    International Journal of Economics and Financial Issues, 2017
    Co-Authors: Muhammad Afaq Haider, Muhammad Asif Khan, Shamila Saddique, Shujahat Haider Hashmi
    Abstract:

    The research is aimed at investigating the impact of stock market performance and inflation on Foreign Portfolio Investment (FPI) in China. For this purpose, time series quarterly data from 2007Q1 to 2015Q4 is used. On the basis of stationarity results, auto regressive distributed lag model is used to examine the impact of the stock market prices and inflation on FPI. The results show that there is significant positive impact of stock market performance on the FPI, whereas inflation is found to be negatively associated with the FPI. The study also reveals that some historical events like Asian financial crisis of 2008, and the Shanghai Composite Stock Index crash of 2015, significantly affected the FPI in China. The investors should consider these two factors while investing in Foreign financial markets.

  • Macroeconomic Factors and Foreign Portfolio Investment Volatility: A Case of South Asia
    2015
    Co-Authors: Yahya Waqas, Shujahat Haider Hashmi, Muhammad Imran Nazir
    Abstract:

    Macroeconomic factors play a pivotal role in attracting Foreign Investment in the country. This unique study investigates the relationship between macroeconomic factors and Foreign Portfolio Investment volatility in South Asian countries. The monthly data is collected for the period ranging from 2000 to 2012 for four Asian countries i.e. China, India, Pakistan and Sri Lanka because monthly data is ideal for measuring Portfolio Investment volatility. For measuring volatility in Foreign Portfolio Investment, GARCH (1, 1) is used because shocks are responded quickly by this model. The results reveal that there exists significant relationship between macroeconomic factors and Foreign Portfolio Investment volatility. Thus, less volatility in international Portfolio flows is associated with high interest rate, currency depreciation, Foreign direct Investment, lower inflation, and higher GDP growth rate of the host country. Thus findings of this study suggest that Foreign Portfolio investors focus on stable macroeconomic environment of country.

  • macroeconomic factors and Foreign Portfolio Investment volatility a case of south asian countries
    2015
    Co-Authors: Yahya Waqas, Shujahat Haider Hashmi, Muhammad Imran Nazir
    Abstract:

    Macroeconomic factors play a pivotal role in attracting Foreign Investment in the country. This unique study investigates the relationship between macroeconomic factors and Foreign Portfolio Investment volatility in South Asian countries. The monthly data is collected for the period ranging from 2000 to 2012 for four Asian countries i.e. China, India, Pakistan and Sri Lanka because monthly data is ideal for measuring Portfolio Investment volatility. For measuring volatility in Foreign Portfolio Investment, GARCH (1, 1) is used because shocks are responded quickly by this model. The results reveal that there exists significant relationship between macroeconomic factors and Foreign Portfolio Investment volatility. Thus, less volatility in international Portfolio flows is associated with high interest rate, currency depreciation, Foreign direct Investment, lower inflation, and higher GDP growth rate of the host country. Thus findings of this study suggest that Foreign Portfolio investors focus on stable macroeconomic environment of country.

  • Macroeconomic factors and Foreign Portfolio Investment volatility: A case of South Asian countries
    Future Business Journal, 2015
    Co-Authors: Yahya Waqas, Shujahat Haider Hashmi, Muhammad Imran Nazir
    Abstract:

    AbstractMacroeconomic factors play a pivotal role in attracting Foreign Investment in the country. This study investigates the relationship between macroeconomic factors and Foreign Portfolio Investment volatility in South Asian countries. The monthly data is collected for the period ranging from 2000 to 2012 for four Asian countries i.e. China, India, Pakistan and Sri Lanka because monthly data is ideal for measuring Portfolio Investment volatility. For measuring volatility in Foreign Portfolio Investment, GARCH (1,1) is used because shocks are responded quickly by this model. The results reveal that there exists significant relationship between macroeconomic factors and Foreign Portfolio Investment volatility. Thus, less volatility in international Portfolio flows is associated with high interest rate, currency depreciation, Foreign direct Investment, lower inflation, and higher GDP growth rate of the host country. Thus findings of this study suggest that Foreign Portfolio investors focus on stable macroeconomic environment of country

Dyah Anggitawati - One of the best experts on this subject based on the ideXlab platform.

Muhammad Imran Nazir - One of the best experts on this subject based on the ideXlab platform.

  • Macroeconomic Factors and Foreign Portfolio Investment Volatility: A Case of South Asia
    2015
    Co-Authors: Yahya Waqas, Shujahat Haider Hashmi, Muhammad Imran Nazir
    Abstract:

    Macroeconomic factors play a pivotal role in attracting Foreign Investment in the country. This unique study investigates the relationship between macroeconomic factors and Foreign Portfolio Investment volatility in South Asian countries. The monthly data is collected for the period ranging from 2000 to 2012 for four Asian countries i.e. China, India, Pakistan and Sri Lanka because monthly data is ideal for measuring Portfolio Investment volatility. For measuring volatility in Foreign Portfolio Investment, GARCH (1, 1) is used because shocks are responded quickly by this model. The results reveal that there exists significant relationship between macroeconomic factors and Foreign Portfolio Investment volatility. Thus, less volatility in international Portfolio flows is associated with high interest rate, currency depreciation, Foreign direct Investment, lower inflation, and higher GDP growth rate of the host country. Thus findings of this study suggest that Foreign Portfolio investors focus on stable macroeconomic environment of country.

  • macroeconomic factors and Foreign Portfolio Investment volatility a case of south asian countries
    2015
    Co-Authors: Yahya Waqas, Shujahat Haider Hashmi, Muhammad Imran Nazir
    Abstract:

    Macroeconomic factors play a pivotal role in attracting Foreign Investment in the country. This unique study investigates the relationship between macroeconomic factors and Foreign Portfolio Investment volatility in South Asian countries. The monthly data is collected for the period ranging from 2000 to 2012 for four Asian countries i.e. China, India, Pakistan and Sri Lanka because monthly data is ideal for measuring Portfolio Investment volatility. For measuring volatility in Foreign Portfolio Investment, GARCH (1, 1) is used because shocks are responded quickly by this model. The results reveal that there exists significant relationship between macroeconomic factors and Foreign Portfolio Investment volatility. Thus, less volatility in international Portfolio flows is associated with high interest rate, currency depreciation, Foreign direct Investment, lower inflation, and higher GDP growth rate of the host country. Thus findings of this study suggest that Foreign Portfolio investors focus on stable macroeconomic environment of country.

  • Macroeconomic factors and Foreign Portfolio Investment volatility: A case of South Asian countries
    Future Business Journal, 2015
    Co-Authors: Yahya Waqas, Shujahat Haider Hashmi, Muhammad Imran Nazir
    Abstract:

    AbstractMacroeconomic factors play a pivotal role in attracting Foreign Investment in the country. This study investigates the relationship between macroeconomic factors and Foreign Portfolio Investment volatility in South Asian countries. The monthly data is collected for the period ranging from 2000 to 2012 for four Asian countries i.e. China, India, Pakistan and Sri Lanka because monthly data is ideal for measuring Portfolio Investment volatility. For measuring volatility in Foreign Portfolio Investment, GARCH (1,1) is used because shocks are responded quickly by this model. The results reveal that there exists significant relationship between macroeconomic factors and Foreign Portfolio Investment volatility. Thus, less volatility in international Portfolio flows is associated with high interest rate, currency depreciation, Foreign direct Investment, lower inflation, and higher GDP growth rate of the host country. Thus findings of this study suggest that Foreign Portfolio investors focus on stable macroeconomic environment of country