Liquidity, Institutional Quality and the Composition of International Equity Flows
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https://www.nber.org/papers/w15727
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FDI investors control the management of the firms, whereas FPI investors delegate decisions to managers. Therefore, direct investors are more informed than portfolio investors about the prospects of projects. This information enables them to manage their projects more efficiently. However, if
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美国国家经济研究局创建时间：
2010-02-01
