Eckel, Stefanie; Löffler, Gunter; Maurer, Alina; … - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2009
Recent studies suggest that the correlation of stock returns increases with decreasing geographical distance. However, there is some debate on the appropriate methodology for measuring the effects of distance on correlation. We modify a regression approach suggested in the literature and...