Increasing international interdependation, world globalization and integrational processes causes, that particular businesses are more and more involved to the international business and must face to increasing competitive pressure. Business praxis shows, that without internationalization of...

In this paper, we investigate the adequacy of scaling, a method frequently used in estimation of standard deviation of stock returns. Scaling is based on the assumption that standard deviation is proportional to the square root of the length of the time interval of the sample (for example daily,...