Cauchie, Severine; Hoesli, Martin; Isakov, Dusan - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003
This paper examines the determinants of stock returns in a small open economy using an APT framework. The analysis is conducted for the Swiss stock market which has the particularity of including a large proportion of firms that are exposed to foreign economic conditions. Both a statistical and...