학술논문
IMPACT OF THE EURO ON EUROPEAN PORTFOLIO DIVERSIFICATION
이용수 2
- 영문명
- 발행기관
- People & Global Business Association
- 저자명
- Jorge Bley Jeff Madura
- 간행물 정보
- 『Global Business and Finance Review』Vol.6 No.2, 17~29쪽, 전체 12쪽
- 주제분류
- 경제경영 > 경영학
- 파일형태
- 발행일자
- 2001.12.31
4,240원
구매일시로부터 72시간 이내에 다운로드 가능합니다.
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국문 초록
영문 초록
The inception of the euro has led to more transparent pricing of product and valuations of firms. We find evidence that the inception of a single European market has increased the correlation amount country stock markets. While it is generally known that stock return correlations among European countries increased as European barries were reduced during the late 1980s and early 1990s, this study offers a more recent update in light of changes instigated by the inception of the euro. Our results have relevant implications for portfolio managers who use the popular top-down investment approach in Europe in which the country is selected before the industry and company. The top-down approach offers limited diversification benefits. since markets are now more highly integrated as a result of the euro.
목차
Abstract
BACKGROUND
HYPOTHESES
METHODOLOGY
RESULTS
SUMMARY
REFERENCES
키워드
해당간행물 수록 논문
- INTERNATIONAL BANKS' PERFORMANCE: A FIVE-COUNTRY COMPARISON
- DYNAMIC RELATIONSHIP BETWEEN EQUITY PRICES AND MACROECONOMIC CONDITIONS: EVIDENCE FROM EMERGING MARKETS
- PRICE-EARNING (P/E) RATIOS OF BROAD CATEGORIES OF U.S. STOCKS AND 3-MONTH T-BILL RATE: EVIDENCE FROM COINTEGRATION ANALYSES
- THE IMPACT OF TOP MANAGEMENT TEAM CHARACTERISTICS ON CORPORATE REFOCUSING IN U.S. FIRMS
- THE EFFECT OF AUDITOR CHOICE ON THE EARNINGS-TO-RETURNS RELATIONSHIP: THE CASE OF MALAYSIA
- SEASONALITY IN STOCK RETURNS: AN EMPIRICAL STUDY OF THAILAND
- IMPACT OF THE EURO ON EUROPEAN PORTFOLIO DIVERSIFICATION
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