Essec\Faculty\Model\Contribution {#2205
  #_index: "academ_contributions"
  #_id: "8089"
  #_source: array:26 [
    "id" => "8089"
    "slug" => "international-bond-portfolio-diversification"
    "yearMonth" => "1999-03"
    "year" => "1999"
    "title" => "International Bond Portfolio Diversification"
    "description" => "LIOUI, A. et PONCET, P. (1999). <i>International Bond Portfolio Diversification</i>. ESSEC Business School."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "PONCET Patrice"
        "bid" => "B00000430"
        "slug" => "poncet-patrice"
      ]
      1 => array:1 [
        "name" => "LIOUI A."
      ]
    ]
    "ouvrage" => ""
    "keywords" => []
    "updatedAt" => "2020-12-17 21:00:33"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => null
      "volume" => null
      "number" => null
    ]
    "type" => array:2 [
      "fr" => "Documents de travail"
      "en" => "Working Papers"
    ]
    "support_type" => array:2 [
      "fr" => "Editeur"
      "en" => "Publisher"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Cet article examine deux questions liées de finance internationale. D'abord, théorie et évidence empirique suggèrent que les agents devraient en même temps investir à l'étranger et se couvrir contre le risque de change induit, ce qui est quelque peu paradoxal. Ensuite, les investisseurs semblent sous-investir en fait dans les actifs étrangers  ("home bias"). Nous décrivons et comparons les demandes optimales pour trois stratégies différentes : l'une implique l'utilisation des obligations internationales, et les deux autres soit des forwards, soit des futures sur taux de change."
      "en" => "This paper addresses two related issues in international finance. First, existing theory and empirical evidence suggest that domestic agents should invest abroad and simultaneously hedge the implied exchange rate risk, a somewhat paradoxical proposition. Second, investors seem to exhibit "home bias" in that the proportion of foreign assets they hold is admittedly very low. We derive and compare optimal demands for three different strategies: one involving foreign bonds, one involving currency forwards and the last one involving currency futures."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-07-26T23:21:49.000Z"
    "docTitle" => "International Bond Portfolio Diversification"
    "docSurtitle" => "Documents de travail"
    "authorNames" => "<a href="/cv/poncet-patrice">PONCET Patrice</a>, LIOUI A."
    "docDescription" => "<span class="document-property-authors">PONCET Patrice, LIOUI A.</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">1999</span>"
    "keywordList" => ""
    "docPreview" => "<b>International Bond Portfolio Diversification</b><br><span>1999-03 | Documents de travail </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">International Bond Portfolio Diversification</a>"
  ]
  +lang: "fr"
  +"_type": "_doc"
  +"_score": 8.782936
  +"parent": null
}