English  |  正體中文  |  简体中文  |  全文笔数/总笔数 : 59061/92564 (64%)
造访人次 : 728441      在线人数 : 37
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
搜寻范围 查询小技巧:
  • 您可在西文检索词汇前后加上"双引号",以获取较精准的检索结果
  • 若欲以作者姓名搜寻,建议至进阶搜寻限定作者字段,可获得较完整数据
  • 进阶搜寻


    jsp.display-item.identifier=請使用永久網址來引用或連結此文件: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/23738


    题名: Long-Run Gains From International Equity Diversification: Taiwan's Evidence, 1995-2001
    作者: 聶建中;Nieh, Chien-chung;張倉耀;Chang, Tsang-yao
    贡献者: 淡江大學財務金融學系
    关键词: Portfolio diversification;Stock markets;Stock market indices;Investors;Macroeconomics;Asians;Empirical evidence;Stock prices;Vector autoregression;International economics
    日期: 2003-09
    上传时间: 2009-11-30 17:51:27 (UTC+8)
    出版者: Sejong University, Sejong Institution, Center for International Economics
    摘要: This study attempts to explore whether there exist long-run gains from international equity diversification for Taiwan investors who invest in the stock markets of its major trading partners, namely those of Hong Kong, Japan, Singapore, South Korea, and the United States. We further incorporate two dummies, taking into account two financial shocks of the stock crash of the United States in 1997 (D97) and the Asian financial crisis (DAC), into our model. The results indicate that these six stock markets are cointegrated with one cointegrating vector, which implies that the efficient market hypothesis (EMH) is violated in this multinational stock markets and the Taiwan investors may not benefit from portfolio diversification in the stock markets of its major trading partners. However, the dropping of either Singapore or South Korea markets from the portfolios leads to a rejection of cointegration and hence implies gains from diversification. Our results argue that analysis of more extensive investment portfolios and the drawing of conclusions regarding portfolio diversification must be carried out with great care for Taiwan investors.
    關聯: Journal of economic integration 18(3), pp.530-544
    显示于类别:[財務金融學系暨研究所] 期刊論文

    文件中的档案:

    档案 描述 大小格式浏览次数
    index.html0KbHTML32检视/开启
    Long-Run Gains From International Equity Diversification Taiwan's Evidence, 1995-2001.pdf218KbAdobe PDF1检视/开启

    在機構典藏中所有的数据项都受到原著作权保护.

    TAIR相关文章

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - 回馈