Kassim, Salina H.; Majid, M. Shabri Abd.; Hamid, Zarinah - In: Afro-Asian Journal of Finance and Accounting 2 (2011) 3, pp. 185-209
. While there are diversification benefits in these markets at the initial stage of the crisis, there seems to be no … diversification benefits in the stock markets in a prolonged 'down market'. In a short time horizon, 'market panic' results in …