Wang, Ming-Chieh; Fang, Ming; Ye, Jin-Kui - In: Emerging Markets Finance and Trade 49 (2013) S4, pp. 17-31
This study examines the financial integration of large- and small-cap stocks in twenty-three emerging markets to determine their degree of market integration with the world market. The international asset pricing model cannot be rejected for most large-cap stock portfolios, but it is rejected...