Donadelli, Michael; Lucchetta, Marcella - In: Asian Economic and Financial Review 3 (2013) 4, pp. 398-422
This paper studies the behavior of emerging stock excess returns in an industry-by-industry context. We examine stock market performance for 23 countries and ten industries over 17 years from 1995 to 2012 – a period that includes major changes in capital market regulations, the removal of...