Noël Amenc, Kumar Gautam, Felix Goltz, Nicolas Gonzalez, Jan-Philip Schade: A standard practice in reporting geographic exposure of equity portfolios is to report breakdown of portfolio constituents by country or region, which are assigned to a stock based on its place of listing, incorporation or headquarters.
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However, the practice is questionable in the context of a globalised marketplace where a company's operations are usually not restricted to any single country (or region). Moreover, now that accounting standards have made firm-level data on business activity across different geographies widely available, a natural question is whether such data can be used to obtain more meaningful geographic exposure reporting of equity portfolios.
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