Conrad, H. and McCafferty, J. (2012) United Kingdom Fund Managers and Institutional Investors’ Attitudes Toward Japanese Equities. Japanese Economy, 39 (1). pp. 105-130. ISSN 1097-203X
Abstract
This article explores UK fund managers and institutional investors' attitudes toward Japanese equities. We find a declining home bias of UK pension funds vis-à-vis Japanese equities since the early 1990s. However, for the most part, this decrease is a reflection of Japan's decreasing equity market and gross domestic product weights. Only in the 2000s did UK pension funds increase their Japanese equity holdings slightly. While our informants showed a comparatively high degree of variance in opinions about market factors, certain macro and institutional factors—namely, economic growth, deflation, demographics, and corporate governance—were rated high as explanatory factors for an overall low enthusiasm in Japanese equities. Our discussion confirms that these factors appear to make investments in Japan comparatively less attractive.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2012 M.E. Sharpe, Inc. This is an author produced version of a paper subsequently published in Japanese Economy. Uploaded in accordance with the publisher's self-archiving policy. |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > School of East Asian Studies (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 22 Jan 2016 09:39 |
Last Modified: | 03 Nov 2017 05:33 |
Published Version: | http://dx.doi.org/10.2753/JES1097-203X390104 |
Status: | Published |
Publisher: | Wiley |
Refereed: | Yes |
Identification Number: | 10.2753/JES1097-203X390104 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:93596 |