理悅CEMA•知與行系列研讨會2024年第八講将于11月21日（周四）上午8:30-10:00在學術會堂506會議室舉行，由上海财經大學商學院副教授李溦報告“Public Attention, Private Attention and Mutual Funds’ Global Allocation”，歡迎感興趣的師生參加。

題目

Public Attention, Private Attention and Mutual Funds’ Global Allocation

摘要

Using micro-level data on mutual funds’ global portfolios, we investigate how a fund’s investment in a destination country is affected by public attention, measured by Google search volume. We show that (i) more public attention from a fund’s registration country to its destination country significantly increases the fund’s portfolio allocation in that country; (ii) more public attention from a third country to its destination country drives out the fund’s portfolio allocation in this country; (iii) the effects of public attention are stronger if the fund adopts an index-based passive strategy, takes no leverage, invests in value or small-cap stocks, or if the destination country has higher public information intensity. We provide a model to explain these findings, in which higher public attention improves the precision of fund managers’ prior beliefs, and encourages them to allocate more private attention and investment to the destination country.

報告人簡介

李溦，上海财經大學商學院副教授，博士生導師。研究領域包括宏觀經濟學和國際金融。目前的研究課題包括戰略性消費-投資組合決策，信息摩擦條件下的資産定價理論與國際經濟波動等。她的文章發表于經濟學頂尖期刊Journal of Economic Dynamics and Control和Journal of International Money and Finance。

時間

2024年11月21日（周四）上午8:30-10:00

地點

韦德体育bevictor學院南路校區學術會堂506會議室

主辦

韦德体育bevictor中國經濟與管理研究院

文字：尹鵬輝、甄芳

審稿：甄芳

編輯：沈嘉怡

審核：王穎