haku: @journal_id 571 / yhteensä: 1184
viite: 720 / 1184
| Tekijä: | Johnson, R. Lindvall, J. Soenen, L. |
| Otsikko: | Economic and Monetary Integration: Implications for European Equity Investors |
| Lehti: | European Management Journal
1994 : VOL. 12;1, p. 94-101 |
| Asiasana: | EEC HARMONIZATION EEC STOCK MARKETS INVESTMENTS |
| Kieli: | eng |
| Tiivistelmä: | Robert Johnson, John Lindvall and Luc Soenen investigate the impact of continued economic and monetary integration within the European Community on the risk/return characteristics of its equity markets. Equity markets in different EC countries are becoming more similar in terms of risk and return. However, the risk of investing in EC equity markets is not decreasing over time. On the other hand, we find that currency risk has decreased and that the compounding effect of exchange risk magnifying stock market risk is decreasing. Despite the greater similarity of the different EC stock and currency markets in terms of risk and return characteristics investors from EC countries can significantly reduce their risk by diversifying their equity investments across the range of EC country stock markets. |
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