search query: @author Chung, Y.-L. / total: 1
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| Author: | Chung, Y.-L. Ho, Y.-K. |
| Title: | The intertemporal stability of the relationship between the Asian emerging equity markets and the developed equity markets |
| Journal: | Journal of Business Finance and Accounting
1990 : JAN, VOL. 18:2, p.235-254 |
| Index terms: | EQUITY CAPITAL MARKETS DIVERSIFICATION ASIA DEVELOPED ECONOMIES |
| Language: | eng |
| Abstract: | By using weekly data from seven Asian emerging markets (AEMs) and four developed markets, it is found that there exist diversification benefits. However, the correlation matrix among the AEMs and the developed markets is not stable over time. Employing the box test, the stability of the whole matrix over multiple periods is tested, confirming the instability results. Results from cluster analysis also indicate that the developed markets form stable groupings but the same results cannot be observed for the AEMs except for the Singapore and Malaysia group. |
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