The 2007-2008 sub-prime crisis has raised once more the interest on international market integration. Events of global importance tend to have a significant impact on the world's stock markets. Empirical studies show that the co-movement patterns of national stock markets change significantly...

Exchanged Traded Funds (ETFs) have become one of the largest investment opportunities today. They present special features that differentiate them from other investment funds, in which the most important are their traded shares. Their share prices are market oriented and are not necessarily...

Market risk measurement has a long tradition in finance and it has been drawing the attention of many academic studies since Markowitz (1952). But the CAPM model (and derived models) assumptions have been targets of much criticism, in the sense that beta estimation may be imprecise. The...