Combining local and global markets in asset pricing in emerging markets: evidence from three BRICS nations
Asset pricing models, originally designed for the US market, assume sufficiency of local market in capturing systematic market risk in the stock returns. The models were extended to other developed markets that are fully integrated with the US market by replacing the local market with the global...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Tennessee State University
2015
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/44939/ http://irep.iium.edu.my/44939/ http://irep.iium.edu.my/44939/1/Journal_of_Developing_Areas_Vol_49%283%29_365-78_2015-Shabir%2C_Zarinah_and_Kameel.pdf |