04283nam 2200781 a 450 991096924940332120200520144314.09786611430931978128143093912814309359780226260211022626021610.7208/9780226260211(CKB)1000000000406758(EBL)408545(OCoLC)476229549(SSID)ssj0000181777(PQKBManifestationID)11164435(PQKBTitleCode)TC0000181777(PQKBWorkID)10160428(PQKB)11669546(DE-B1597)535665(OCoLC)781254972(DE-B1597)9780226260211(Au-PeEL)EBL408545(CaPaEBR)ebr10230051(CaONFJC)MIL143093(NBER)w4590(MiAaPQ)EBC408545(Perlego)1972199(EXLCZ)99100000000040675819940603d1994 uy 0engurcn|||||||||txtrdacontentcrdamediacrrdacarrierThe Internationalization of equity markets /edited by Jeffrey A. Frankel1st ed.Chicago University of Chicago Pressc19941 online resource (428 pages)A National Bureau of Economic Research project report"The papers were originally presented at a conference held in San Francisco, California, on October 1-2, 1993."--Pref.9780226260013 0226260011 Includes bibliographical references and indexes.Front matter --Contents --Preface --Introduction --1. A Test of the International CAPM Using Business Cycles Indicators as Instrumental Variables --2. An Exploratory Investigation of the Fundamental Determinants of National Equity Market Returns --3. Tests of CAPM on an International Portfolio of Bonds and Stocks --4. International Equity Transactions and U.S. Portfolio Choice --5. The Effect of Barriers to Equity Investment in Developing Countries --6. International Experiences with Securities Transaction Taxes --7. Price Volatility and Volume Spillovers between the Tokyo and New York Stock Markets --8. What Moves the Discount on Country Equity Funds? --Contributors --Author Index --Subject IndexThis timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through foreign investment and links among stock prices around the world; increasing securitization as countries such as Japan come to rely more than ever before on markets in equities and bonds at the expense of banks; and the opening of national financial systems of newly industrializing countries to international financial flows and institutions, as governments remove capital controls and other barriers. Eight essays examine such issues as the current extent of international market integration, gains to U.S. investors through international diversification, home-country bias in investing, the role of time and location around the world in stock trading, and the behavior of country funds. Other, long-standing questions about equity markets are also addressed, including market efficiency and the accuracy of models of expected returns, with a particular focus on variances, covariances, and the price of risk according to the Capital Asset Pricing Model.National Bureau of Economic Research project report.SecuritiesCongressesInternational financeCongressesStock exchangesCongressesPortfolio managementCongressesInvestments, ForeignCongressesSecuritiesInternational financeStock exchangesPortfolio managementInvestments, Foreign332.63/2Frankel Jeffrey A118986MiAaPQMiAaPQMiAaPQBOOK9910969249403321The Internationalization of equity markets4363001UNINA