search query: @journal_id 1676 / total: 53
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| Author: | Olienyk, J. |
| Title: | WEBS, SPDRs, and country funds: an analysis of international cointegration |
| Journal: | Journal of Multinational Financial Management
1999 : NOV, VOL. 9:3-4, p. 217-232 |
| Index terms: | FUNDS INTERNATIONAL COINTEGRATION |
| Language: | eng |
| Abstract: | Prior empirical studies analyzing linkages between international equity markets have suffered because suitable real-world financial instruments representing national equity markets were not available for trading. In March 1996, World Equity Benchmark Shares (WEBS) began trading on the American Stock Exchange. WEBS are open-end index funds that trade like closed-end index funds; they are designed to closely track the international indices developed by Morgan Stanley Capital International. |
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