{"id":"https://openalex.org/W2187953560","doi":null,"title":"Foreign Portfolio Investment Inflows to the United States: The Impact of Investor Risk Aversion and U.S. Stock Market Performance","display_name":"Foreign Portfolio Investment Inflows to the United States: The Impact of Investor Risk Aversion and U.S. Stock Market Performance","publication_year":2010,"publication_date":"2010-01-01","ids":{"openalex":"https://openalex.org/W2187953560","mag":"2187953560"},"language":"en","primary_location":{"id":"pmh:oai:scholarworks.utrgv.edu:ef_fac-1120","doi":null,"is_oa":true,"landing_page_url":"https://scholarworks.utrgv.edu/ef_fac/125","pdf_url":"https://scholarworks.utrgv.edu/cgi/viewcontent.cgi?article=1120&context=ef_fac","source":{"id":"https://openalex.org/S4306402611","display_name":"ScholarWorks @ UTRGV (The University of Texas Rio Grande Valley)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I2802326326","host_organization_name":"The University of Texas Rio Grande Valley","host_organization_lineage":["https://openalex.org/I2802326326"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economics and Finance Faculty Publications and Presentations","raw_type":"text"},"volume":null,"type":"article","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://scholarworks.utrgv.edu/cgi/viewcontent.cgi?article=1120&context=ef_fac","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5035017675","display_name":"Peter V. Egly","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Peter V. Egly","raw_affiliation_strings":["University of Texas-Pan American"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Texas-Pan American","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5074250925","display_name":"David W. Johnk","orcid":"https://orcid.org/0000-0003-3163-3591","observed_orcids":["https://orcid.org/0000-0003-3163-3591"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"David W. Johnk","raw_affiliation_strings":["University of Texas-Pan American"],"raw_orcid":"https://orcid.org/0000-0003-3163-3591","affiliations":[{"raw_affiliation_string":"University of Texas-Pan American","institution_ids":[]}]},{"author_position":"last","author":{"id":null,"display_name":"Daniel P. Liston","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Daniel P. Liston","raw_affiliation_strings":["University of Texas-Pan American"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Texas-Pan American","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.6716,"has_fulltext":true,"cited_by_count":39,"citation_normalized_percentile":{"value":0.89460919,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"4","issue":"4","first_page":"25","last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.7627000212669373,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.7627000212669373,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.17649999260902405,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.014399999752640724,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/foreign-portfolio-investment","display_name":"foreign portfolio investment","score":0.9710000157356262},{"id":"https://openalex.org/keywords/net-capital-inflows","display_name":"net capital inflows","score":0.7129999995231628},{"id":"https://openalex.org/keywords/investor-risk-aversion","display_name":"investor risk aversion","score":0.9950000047683716},{"id":"https://openalex.org/keywords/corporate-bonds","display_name":"corporate bonds","score":0.8460000157356262},{"id":"https://openalex.org/keywords/corporate-stock","display_name":"corporate stock","score":0.7900000214576721},{"id":"https://openalex.org/keywords/pull-factors","display_name":"pull factors","score":0.9580000042915344},{"id":"https://openalex.org/keywords/capital-flows","display_name":"capital flows","score":0.43799999356269836},{"id":"https://openalex.org/keywords/united-states","display_name":"United States","score":0.7200000286102295}],"concepts":[{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.6167694926261902},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.6150456070899963},{"id":"https://openalex.org/C129915516","wikidata":"https://www.wikidata.org/wiki/Q17083550","display_name":"Risk aversion (psychology)","level":3,"score":0.5852749943733215},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5839030146598816},{"id":"https://openalex.org/C50787887","wikidata":"https://www.wikidata.org/wiki/Q5468447","display_name":"Foreign portfolio investment","level":5,"score":0.5746304392814636},{"id":"https://openalex.org/C69738904","wikidata":"https://www.wikidata.org/wiki/Q11693","display_name":"Bond","level":2,"score":0.5644295811653137},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5564492344856262},{"id":"https://openalex.org/C2776132308","wikidata":"https://www.wikidata.org/wiki/Q11070850","display_name":"Inflow","level":2,"score":0.5175741910934448},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.513892412185669},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.49164754152297974},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.3333883583545685},{"id":"https://openalex.org/C205706631","wikidata":"https://www.wikidata.org/wiki/Q2319304","display_name":"Expected utility hypothesis","level":2,"score":0.14799365401268005},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.11083763837814331},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.1104312539100647},{"id":"https://openalex.org/C169549615","wikidata":"https://www.wikidata.org/wiki/Q939134","display_name":"Return on investment","level":3,"score":0.1020631194114685},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C57879066","wikidata":"https://www.wikidata.org/wiki/Q41217","display_name":"Mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C181308471","wikidata":"https://www.wikidata.org/wiki/Q25245118","display_name":"Open-ended investment company","level":4,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C2778348673","wikidata":"https://www.wikidata.org/wiki/Q739302","display_name":"Production (economics)","level":2,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:scholarworks.utrgv.edu:ef_fac-1120","doi":null,"is_oa":true,"landing_page_url":"https://scholarworks.utrgv.edu/ef_fac/125","pdf_url":"https://scholarworks.utrgv.edu/cgi/viewcontent.cgi?article=1120&context=ef_fac","source":{"id":"https://openalex.org/S4306402611","display_name":"ScholarWorks @ UTRGV (The University of Texas Rio Grande Valley)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I2802326326","host_organization_name":"The University of Texas Rio Grande Valley","host_organization_lineage":["https://openalex.org/I2802326326"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economics and Finance Faculty Publications and Presentations","raw_type":"text"},{"id":"mag:2187953560","doi":null,"is_oa":false,"landing_page_url":"https://scholarworks.utrgv.edu/cgi/viewcontent.cgi?article=1120&context=ef_fac","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:scholarworks.utrgv.edu:ef_fac-1120","doi":null,"is_oa":true,"landing_page_url":"https://scholarworks.utrgv.edu/ef_fac/125","pdf_url":"https://scholarworks.utrgv.edu/cgi/viewcontent.cgi?article=1120&context=ef_fac","source":{"id":"https://openalex.org/S4306402611","display_name":"ScholarWorks @ UTRGV (The University of Texas Rio Grande Valley)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I2802326326","host_organization_name":"The University of Texas Rio Grande Valley","host_organization_lineage":["https://openalex.org/I2802326326"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economics and Finance Faculty Publications and Presentations","raw_type":"text"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2187953560.pdf","grobid_xml":"https://content.openalex.org/works/W2187953560.grobid-xml"},"referenced_works_count":14,"referenced_works":["https://openalex.org/W1894161617","https://openalex.org/W1979679461","https://openalex.org/W1995834279","https://openalex.org/W2019459021","https://openalex.org/W2047575769","https://openalex.org/W2050815921","https://openalex.org/W2081189789","https://openalex.org/W2108122190","https://openalex.org/W2121187042","https://openalex.org/W2890195433","https://openalex.org/W3121324820","https://openalex.org/W3121830556","https://openalex.org/W3121953689","https://openalex.org/W3124702638"],"related_works":["https://openalex.org/W2467618374","https://openalex.org/W2075729374","https://openalex.org/W2495261928","https://openalex.org/W3208134500","https://openalex.org/W2994464260","https://openalex.org/W4392301657","https://openalex.org/W7162191064","https://openalex.org/W2055828909","https://openalex.org/W2690358471","https://openalex.org/W3125514350"],"abstract_inverted_index":{"This":[0],"paper":[1],"examines":[2],"the":[3,24,39,47,60,96],"relationship":[4],"of":[5],"net":[6,48,61,66],"foreign":[7,105],"portfolio":[8,106],"investment":[9],"inflows,":[10],"namely":[11],"corporate":[12,49,62,67],"bonds":[13],"and":[14,23,52],"stocks,":[15],"to":[16,38,46,59,73,85],"two":[17],"pull":[18],"factors;":[19],"investor":[20],"risk":[21,74,89],"aversion":[22],"US":[25],"stock":[26,40,63,68],"market.":[27],"Using":[28],"a":[29,53,81],"vector":[30],"autoregressive":[31],"model,":[32],"we":[33],"find":[34],"that":[35,99],"positive":[36,57],"shocks":[37],"market":[41],"elicit":[42],"an":[43,86],"insignificant":[44],"response":[45,58,84],"bond":[50,77],"inflow":[51,69],"significant":[54,82],"short":[55],"term":[56],"inflow.":[64],"The":[65],"does":[70],"not":[71],"respond":[72],"aversion,":[75],"while":[76],"inflows":[78],"do":[79],"exhibit":[80],"midterm":[83],"increase":[87],"in":[88],"aversion.":[90],"Consistent":[91],"with":[92],"previous":[93],"empirical":[94],"findings,":[95],"results":[97],"show":[98],"internal":[100],"country-specific":[101],"factors":[102],"may":[103],"influence":[104],"inflows.":[107]},"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":17},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":4},{"year":2016,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}