مجله مدیریت مالی چند ملیتی – Journal of Multinational Financial Management

Emerging markets offer an alternative destination for portfolio investment from advanced economies due to better growth prospects, their governments dedicated policies of furthering financial deregulation, as well as the risk-return advantages available from international diversification (e.g. Karolyi, Ng and Prasad (2013) amongst others). In fact, the Institute of International Finance forecasts that net private capital inflows to all emerging economies will persist at current levels and will exceed US$1 trillion in 2015 (Collyns et al., 2014)1 .