أعرض تسجيلة المادة بشكل مبسط

dc.creator Brooks, Robin
dc.creator Del Negro, Marco
dc.date 2005
dc.date.accessioned 2013-10-16T06:56:51Z
dc.date.available 2013-10-16T06:56:51Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/17799
dc.identifier ppn:495851051
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/17799
dc.description We explore the link between international stock market comovement and the degree to which firms operate globally. Using stock returns and balance sheet data for companies in 20 countries, we estimate a factor model that decomposes stock returns into global, country-specific and industry-specific shocks. We find a large and highly significant link: on average, a firm raising its international sales by 10 percent raises the exposure of its stock return to global shocks by 2 percent and reduces its exposure to countryspecific shocks by 1.5 percent. This link has grown stronger since the mid-1980s.
dc.language eng
dc.publisher Kiel Institute for the World Economy (IfW) Kiel
dc.relation Kieler Arbeitspapiere 1244
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject G15
dc.subject G11
dc.subject ddc:330
dc.subject Diversification ; risk ; international financial markets ; industrial structure
dc.subject Internationaler Finanzmarkt
dc.subject Kapitalertrag
dc.subject Portfolio-Management
dc.subject Portfolio-Investition
dc.subject Internationaler Preiszusammenhang
dc.subject Globalisierung
dc.subject Welt
dc.title Firm-Level Evidence on International Stock Market Comovement
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط