Cross-Border Investment Flows in Energy Projects: Is there a case of Inverse Home Country Bias? Evidence from Switzerland

International investment literature suggests that investors tend to do business in their home-countries rather than abroad, calling this phenomenon ‘home bias’. Home bias is assumed to be the result of investor-choices rather than institutional constraints. It can, for example, be caused by familiarity of the local investment opportunities. This paper investigates the opposite phenomenon, based on empirical data on Swiss investments in energy projects in Switzerland and abroad.