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| Author: | Choi, J. Rajan, M. |
| Title: | A joint test of market segmentation and exchange risk factor in international capital markets |
| Journal: | Journal of International Business Studies
1997 : FIRST QUARTER, VOL. 28:1, p. 29-49 |
| Index terms: | MARKET SEGMENTATION RISK CAPITAL MARKETS |
| Language: | eng |
| Abstract: | Market segmentation and exchange risk are two main factors that distinguish international financing and investment decisions from domestic ones. Existing studies of market segmentation have been conducted within a framework in which exchange risk is not explicitly recognized. This paper performs a joint test of market segmentation and exchange risk pricing based on individual stock data from seven majoe countries, outside of U.S., for the period January 1981 to December 1989. |
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