منابع مشابه
What Segments Equity Markets?
We propose a new, valuation-based measure of world equity market segmentation. While we observe decreased levels of segmentation in many countries, the level of segmentation remains significant in emerging markets. We characterize the factors that account for variation in market segmentation both through time as well as across countries. Both a country’s regulation with respect to foreign capit...
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The objective of this paper is to review the transmission mechanisms uniting equity market development and economic growth in developing countries. We find that the theoretical impact of equity markets is ambiguous. At the domestic level, the allocation function of equity markets appears conditioned by the extent of informational efficiency. Turning to international linkages, theoretical models...
متن کاملEquity Derivatives Markets
Since the ideas of arbitrage free pricing were born, finance has changed radically both in theory and practice. Derivatives markets have evolved and options serve nowadays as underlyings and as hedging instruments. In this thesis, we consider some markets for equity derivatives. We start by statistical analysis of the markets for European options and variance swaps because these products are im...
متن کاملAssociation between Asian Equity Markets and Western Markets: Evidence from the Indexes of Equity Markets
This research examined the time series characteristics of stock price indices for Hong Kong, Tokyo, New York (NYSE) and London (FTSE) equity markets or stock exchanges during the period of 1991 to 2012. Specifically, we calculate the rate of return and the volatility of return for all the markets and estimate the serial correlation and co-movement of the four markets. We find that the average r...
متن کاملEquity, by what measure?
Equity has in many instances been framed around the notion of fairness. But the metric used to determine what is fair leaves some people at a disadvantage because the things that they value are not always taken properly into account. If I value mangoes and you value oranges is a measure of fairness based on how many oranges I seek appropriate? If I am expected to give up my love of mangoes in o...
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ژورنال
عنوان ژورنال: Review of Financial Studies
سال: 2011
ISSN: 0893-9454,1465-7368
DOI: 10.1093/rfs/hhr082