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Is market integration associated with informational efficiency of stock markets?
Hooy, Chee-Wooi; Lim, Kian-Ping - In: Journal of Policy Modeling 35 (2013) 1, pp. 29-44
This study addresses the question of whether a more integrated stock market is associated with a higher degree of informational efficiency. We employ the adjusted pricing error from an equilibrium international asset pricing model as a proxy for market integration. The aggregate country-level...
Persistent link: https://www.econbiz.de/10010608426
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Empirical dynamics of emerging financial markets during the global mortgage crisis
Aktug, Rahmi Erdem - In: Borsa Istanbul Review 15 (2015) 1, pp. 17-36
Focusing on five major emerging markets, I investigate the interactions between credit default swap premiums, foreign exchange rates, local currency government bond spreads, and national stock market returns over the period 4/2/2007 to 8/27/2009. Empirical analysis indicates that bond markets,...
Persistent link: https://www.econbiz.de/10011185599
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THE GLOBAL ECONOMIC DOWNTURN AND AFRICAN ECONOMY – RECENT TRENDS AND FUTURE PROSPECTS
RENA, Ravinder - In: Journal of Applied Economic Sciences 5 (2010) 4(14)/ Winter 2010, pp. 383-394
equity investment are come under pressure. The impact of the crisis on developing countries of Africa will affect different … the globe particularly in Africa, resulting in the collapse of large financial institutions, the “bail out†of banks by … wake of ongoing global Economic downturn on the FDIs to Africa with a particular focus on Namibia. Namibia currently …
Persistent link: https://www.econbiz.de/10008835212
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The Overreaction Hypothesis: The Case of Ukrainian Stock Market
Mynhardt, H. R.; Plastun, Alex - Volkswirtschaftliche Fakultät, … - 2013
This paper examines the short-term price reactions after one-day abnormal price changes on the Ukrainian stock market. The original method of abnormal returns calculation is examined. We find significant evidence of overreactions using the daily data over the period 2008-2012. Our analysis...
Persistent link: https://www.econbiz.de/10011113951
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Exchange Rate Shocks and Firm Competitiveness in a Small, Export-Oriented Economy: The Case of Finland
Gulati, Anand B.; Kolari, James W.; Knif, Johan - In: Multinational Finance Journal 17 (2013) 1-2, pp. 1-47
This study empirically examines how exchange rate shocks affect firms’ competitiveness in the small, export-oriented country of Finland. Specifically, using Sweden as a benchmark and controlling for cross-country sector and industry effects, the forex competition hypothesis is tested using the...
Persistent link: https://www.econbiz.de/10011103242
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International portfolio diversification: An ICAPM approach with currency risk
Dimitriou, Dimitrios; Simos, Theodore - Volkswirtschaftliche Fakultät, … - 2012
This article investigates international stock market integration in four major developed economies, namely the United States, the Economic and Monetary Union of the European Union, Japan and the United Kingdom, and two Asian emerging, countries namely China and India, over the period from June...
Persistent link: https://www.econbiz.de/10011109303
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The Degree of Financial Liberalization and Aggregated Stock-return Volatility in Emerging Markets
Umutlu, M.; Akdeniz, L.; Salih, A.A. - Tilburg University, Center for Economic Research - 2009
In this study, we address whether the degree of financial liberalization affects the aggregated total volatility of stock returns by considering the time-varying nature of financial liberalization. We also explore channels through which the degree of financial liberalization impacts aggregated...
Persistent link: https://www.econbiz.de/10011092874
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How does the domiciliation decision affect mutual fund fees?
Lang, Gunnar; Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011
In this paper, we analyze whether the domiciliation decision of mutual funds has an impact on fund fees. To explain the fee price-setting of mutual funds, we consider characteristics specific to funds, fund companies, and countries. We find that fees vary considerably across fund types and...
Persistent link: https://www.econbiz.de/10010985715
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Valuation effects of termination of cross-listings
Füss, Roland; Hommel, Urich; Plagge, Jan-Carl - In: Journal of Financial Perspectives 2 (2014) 1, pp. 177-193
In the past, segmentation of capital markets incentivized numerous companies to crosslist in more integrated markets by promising better investor recognition and thereby lowering cost of capital and increasing stock liquidity. In recent years, however, more and more companies have decided to...
Persistent link: https://www.econbiz.de/10010991069
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An exploration on volatility across India and some developed and emerging equity markets
Mukherjee, Paramita - In: Asia-Pacific Development Journal 18 (2011) 2, pp. 79-103
The opening up of financial markets in India has led to significant transformation within the financial sector, which has become more integrated with international stock markets. The general concern which is emerging with such development is the increased volatility of equity returns. This paper...
Persistent link: https://www.econbiz.de/10010903971