Matches in SemOpenAlex for { <https://semopenalex.org/work/W158341036> ?p ?o ?g. }
Showing items 1 to 73 of
73
with 100 items per page.
- W158341036 abstract "This thesis identifies and fills certain gaps in the empirical literature on the relationship between exchange rates and stock prices, and equity portfolio diversification, with the aim of providing useful information for academics, private investors, currency risk hedgers, and policy-makers. Firstly, it analyses granger-causal links between exchange rates and stock prices even at a level of stock market disaggregation not previously considered, taking into consideration a number of factors that may influence the lead/lag results. Secondly, the thesis considers whether exchange rate movements actually contribute to systematic or undiversifyable risks in national equity markets, particularly assessing the implications (thus far) of the single European currency (the euro) on the risk premiums of major equity markets, given the general perception that the EMU should reduce exchange rate and equity market risks. Several studies have advocated cross-border equity investments as a tool for reducing equity portfolio risks, despite inherent problems including exchange rate risks. Finally therefore, this thesis contributes to the literature on the diversification of equity portfolio risks by assessing the potential of home-based diversification in three developed European equity markets as an alternative to international portfolio diversification, and the potential benefits of eurozone diversification. The evidence suggests the existence of time-varying granger-causal links between exchange rates and stock prices in most countries, although the lead/lag structure for each country may differ when the stock market index is disaggregated, contradicting theoretical models. Although the EMU does not appear to have reduced the exchange rate risk premium in key member states, the same cannot be said about the equity market premium, which has reduced in three of the four member countries investigated. Finally, it appears that the potential of diversifying within the European equity market is such that any extra benefit from international equity acquisitions for diversification purposes is statistically and economically insignificant." @default.
- W158341036 created "2016-06-24" @default.
- W158341036 creator A5047237886 @default.
- W158341036 date "2005-01-01" @default.
- W158341036 modified "2023-09-23" @default.
- W158341036 title "Exchange rates risk and equity portfolio diversification" @default.
- W158341036 hasPublicationYear "2005" @default.
- W158341036 type Work @default.
- W158341036 sameAs 158341036 @default.
- W158341036 citedByCount "0" @default.
- W158341036 crossrefType "dissertation" @default.
- W158341036 hasAuthorship W158341036A5047237886 @default.
- W158341036 hasConcept C10138342 @default.
- W158341036 hasConcept C106159729 @default.
- W158341036 hasConcept C141121606 @default.
- W158341036 hasConcept C143801662 @default.
- W158341036 hasConcept C144133560 @default.
- W158341036 hasConcept C149866677 @default.
- W158341036 hasConcept C162324750 @default.
- W158341036 hasConcept C162853370 @default.
- W158341036 hasConcept C165705269 @default.
- W158341036 hasConcept C17744445 @default.
- W158341036 hasConcept C180916674 @default.
- W158341036 hasConcept C199539241 @default.
- W158341036 hasConcept C199728807 @default.
- W158341036 hasConcept C2776988154 @default.
- W158341036 hasConcept C2780821815 @default.
- W158341036 hasConcept C556758197 @default.
- W158341036 hasConcept C71110296 @default.
- W158341036 hasConceptScore W158341036C10138342 @default.
- W158341036 hasConceptScore W158341036C106159729 @default.
- W158341036 hasConceptScore W158341036C141121606 @default.
- W158341036 hasConceptScore W158341036C143801662 @default.
- W158341036 hasConceptScore W158341036C144133560 @default.
- W158341036 hasConceptScore W158341036C149866677 @default.
- W158341036 hasConceptScore W158341036C162324750 @default.
- W158341036 hasConceptScore W158341036C162853370 @default.
- W158341036 hasConceptScore W158341036C165705269 @default.
- W158341036 hasConceptScore W158341036C17744445 @default.
- W158341036 hasConceptScore W158341036C180916674 @default.
- W158341036 hasConceptScore W158341036C199539241 @default.
- W158341036 hasConceptScore W158341036C199728807 @default.
- W158341036 hasConceptScore W158341036C2776988154 @default.
- W158341036 hasConceptScore W158341036C2780821815 @default.
- W158341036 hasConceptScore W158341036C556758197 @default.
- W158341036 hasConceptScore W158341036C71110296 @default.
- W158341036 hasLocation W1583410361 @default.
- W158341036 hasOpenAccess W158341036 @default.
- W158341036 hasPrimaryLocation W1583410361 @default.
- W158341036 hasRelatedWork W1486316961 @default.
- W158341036 hasRelatedWork W1588722178 @default.
- W158341036 hasRelatedWork W1598913656 @default.
- W158341036 hasRelatedWork W1631884842 @default.
- W158341036 hasRelatedWork W1974455246 @default.
- W158341036 hasRelatedWork W2155341889 @default.
- W158341036 hasRelatedWork W2164879431 @default.
- W158341036 hasRelatedWork W2201229996 @default.
- W158341036 hasRelatedWork W254173592 @default.
- W158341036 hasRelatedWork W2890765374 @default.
- W158341036 hasRelatedWork W2912837586 @default.
- W158341036 hasRelatedWork W2942661496 @default.
- W158341036 hasRelatedWork W3022963609 @default.
- W158341036 hasRelatedWork W3091789208 @default.
- W158341036 hasRelatedWork W3121731308 @default.
- W158341036 hasRelatedWork W3123095911 @default.
- W158341036 hasRelatedWork W3123375321 @default.
- W158341036 hasRelatedWork W3123560727 @default.
- W158341036 hasRelatedWork W3124271599 @default.
- W158341036 hasRelatedWork W3124824088 @default.
- W158341036 isParatext "false" @default.
- W158341036 isRetracted "false" @default.
- W158341036 magId "158341036" @default.
- W158341036 workType "dissertation" @default.