dc.contributor.author | Charitou, Andreas | en |
dc.contributor.author | Makris, Andreas | en |
dc.contributor.author | Nishiotis, George P. | en |
dc.creator | Charitou, Andreas | en |
dc.creator | Makris, Andreas | en |
dc.creator | Nishiotis, George P. | en |
dc.date.accessioned | 2019-04-24T06:29:28Z | |
dc.date.available | 2019-04-24T06:29:28Z | |
dc.date.issued | 2006 | |
dc.identifier.uri | http://gnosis.library.ucy.ac.cy/handle/7/46748 | en |
dc.description.abstract | Using data from 1993 to 2002 for eight developed and fifteen emerging markets, we find that return correlations, mean-variance spanning, and Sharpe ratio tests support that closed-end country funds (CECF) can mimic their corresponding foreign indices, and that they are more heavily influenced by their corresponding local markets instead of the U.S. market. This implies that U.S. investors, by investing in CECF, can achieve similar international diversification benefits to those achieved by investing directly in the foreign indices. We also document increased correlation between the U.S. market and foreign markets during this period and find no compelling evidence of economically and statistically significant international diversification benefits, as opposed to a pre 1993 period. These findings could be associated with the financial market liberalization that was prevalent during the period (JEL: G15). ABSTRACT FROM AUTHOR] | en |
dc.description.abstract | Copyright of Multinational Finance Journal is the property of Global Business Publications and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | en |
dc.source | Multinational Finance Journal | en |
dc.subject | United States | en |
dc.subject | Capitalists & financiers | en |
dc.subject | closed-end country funds | en |
dc.subject | Country funds | en |
dc.subject | Emerging markets | en |
dc.subject | international diversification | en |
dc.subject | liberalization | en |
dc.subject | Mutual funds | en |
dc.subject | Regional funds | en |
dc.subject | spanning tests | en |
dc.subject | Transition economies | en |
dc.title | Closed-end country funds and international diversification | en |
dc.type | info:eu-repo/semantics/article | |
dc.identifier.doi | 10.17578/10-3/4-4 | |
dc.description.volume | 10 | |
dc.description.startingpage | 251 | |
dc.description.endingpage | 276 | |
dc.author.faculty | Σχολή Οικονομικών Επιστημών και Διοίκησης / Faculty of Economics and Management | |
dc.author.department | Τμήμα Λογιστικής και Χρηματοοικονομικής / Department of Accounting and Finance | |
dc.type.uhtype | Article | en |
dc.contributor.orcid | Nishiotis, George P. [0000-0002-5955-955X] | |
dc.contributor.orcid | Charitou, Andreas [0000-0003-1080-9121] | |
dc.description.totalnumpages | 251-276 | |
dc.gnosis.orcid | 0000-0002-5955-955X | |
dc.gnosis.orcid | 0000-0003-1080-9121 | |