If You Use a Screen Reader

This content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Journal Article

The Inter-Temporal Stability of International Stock Market Relationships: Another View

G. C. Philippatos, A. Christofi and P. Christofi
Financial Management
Vol. 12, No. 4 (Winter, 1983), pp. 63-69
Published by: Wiley on behalf of the Financial Management Association International
DOI: 10.2307/3665270
Stable URL: https://www.jstor.org/stable/3665270
Page Count: 7
Were these topics helpful?

Select the topics that are inaccurate.

  • Read Online (Free)
  • Subscribe ($19.50)
  • Add to My Lists
  • Cite this Item
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
The Inter-Temporal Stability of International Stock Market Relationships: Another View
Preview not available

Abstract

This paper examines the inter-temporal stability of the relationships among the national stock exchanges of the fourteen industrial countries from January 1959 to December 1978. The results obtained support the existence of both structure (necessary condition) and stability (sufficient condition) of such relationships for investment horizons longer than two years, while tests for shorter periods yielded confounding outcomes. Additionally, the results point to the existence of international economic factors that contribute to the stability of the relationship. Hence, the results of earlier studies on ex ante gains from international diversification cannot be questioned on the grounds that the sufficient conditions are not satisfied.

Page Thumbnails

  • Thumbnail: Page 
63
    63
  • Thumbnail: Page 
64
    64
  • Thumbnail: Page 
65
    65
  • Thumbnail: Page 
66
    66
  • Thumbnail: Page 
67
    67
  • Thumbnail: Page 
68
    68
  • Thumbnail: Page 
69
    69