EXPLORING DIVERSIFICATION BENEFITS IN ASIAN EQUITY MARKETS

Autor:	Jones Odei Mensah, Gamini Premaratne
Rok vydání:	2019
Předmět:	Economics and Econometrics 050208 finance Liberalization Financial economics 05 social sciences Diversification (finance) Equity (finance) Relative strength Domestic market 0502 economics and business Economics Portfolio 050207 economics Empirical evidence
Zdroj:	The Singapore Economic Review. 64:517-542
ISSN:	1793-6837 0217-5908
DOI:	10.1142/s0217590816500284
Popis:	This paper examines the benefits of international diversification from the perspective of local investors in 15 Asian markets whose initial portfolio holdings consist of assets from the respective domestic markets. We employ the step-down approach of the mean–variance spanning test to examine the statistical significance of regional and global diversification benefits. The analysis is conducted using three portfolio groups based on relative strength ranking technique. The empirical evidence suggests greater benefits from regional diversification compared to global diversification, in most instances. For Asian economies with restrictions on international investing, these findings suggest a further liberalization of their markets.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::23fd7950fc23f9d3756136562fce5ae7 https://doi.org/10.1142/s0217590816500284 Zobrazit plný text záznamu Plný text ve formátu PDF