. 2022 Jul 3;83:102261. doi: 10.1016/j.irfa.2022.102261

Table 7.

Foreign flow and home bias by geographic location.

	Asia	Europe	US
Foreign Flow	−0.019***	0.004***	−0.031***
COVID-19 Home Country * Foreign Flow	−0.491***	0.012**	−0.035*
COVID-19 Host Country * Foreign Flow	−0.098***	−0.012**	0.019
Domestic Flow
Time FE	Yes	Yes	Yes
Home and Host FE	No	No	No
Observations	1890	1890	1890
R-squared	0.375	0.406	0.381
Adjusted R-squared	0.062	0.107	0.07

This table shows the share of money flow to ETFs with foreign exposure. The dependent variable is ${Flow Share}_{ijt} = \frac{\sum flow of ETFs listed in location i with exposure to location j at time t}{\sum AUM of ETFs in location i at time t - 1}$ . Each column shows the model for a subset of data, and the column name shows the home location.