EMERGING MARKETS: WHERE IS THE BENEFIT OF DIVERSIFICATION?

• 발행기관: People & Global Business Association
• 저자명: Massoud Metghalchi Xavier Garza Gó mez Yung Ho Chang
• 간행물 정보: 『Global Business and Finance Review』Vol.8 No.2, 13~22쪽, 전체 10쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2003.12.31

영문 초록

A number of studies provide evidence that diversifying into emerging equity markets provides benefits to portfolio investors. Our findings, however, document that such benefits are not present for all emerging markets across time. We show that adding emerging market equities to the reference U.S. portfolio in one subperiod slightly improves the portfolio performance, but it worsens it in other subperiods. This study suggests that different time frames are likely to yield different outcome when diversifying into emerging markets.

목차

Abstract

INTRODUCTION

DATA AND METHODOLOGY

EMERGING MARKET RETURNS

HIGH COSTS OF INVESTING IN EMERGING MARKETS

SUMMARY AND CONCLUSION

REFERENCES