The DOI matches its Crossref record; 63 of the 63 references it cites were found in a registry or an index.
What Segments Equity Markets?
Abstract
We propose a new, valuation-based measure of world equity market segmentation. While we observe decreased levels of segmentation in many countries, the level of segmentation remains significant in emerging markets. We characterize the factors that account for variation in market segmentation both through time as well as across countries. Both a country's regulation with respect to foreign capital flows and certain nonregulatory factors are important. In particular, we identify a country's political risk profile and its stock market development as two additional local segmentation factors as well as the U.S. corporate credit spread as a global segmentation factor. The Author 2011. Published by Oxford University Press on behalf of The Society for Financial Studies. All rights reserved. For Permissions, please e-mail: journals.permissions@oup.com., Oxford University Press.
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Estimating Standard Errors in Finance Panel Data Sets: Comparing Approaches
Petersen, M. A. (2009) · Review of Financial Studies · doi:10.1093/rfs/hhn053 · Cited by 10,746
Finance and Growth: Schumpeter Might Be Right
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Financial Dependence and Growth
Rajan, R., & Zingales, L. (1996) · National Bureau of Economic Research · doi:10.3386/w5758 · Cited by 7,730
Investor protection and corporate governance
La Porta, R., Lopez-de-Silanes, F., Shleifer, A., & Vishny, R. (2000) · Journal of Financial Economics · doi:10.1016/s0304-405x(00)00065-9 · Cited by 6,848
What To Do (and Not to Do) with Time-Series Cross-Section Data
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Earnings management and investor protection: an international comparison
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By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior
Campbell, J. Y., & Cochrane, J. H. (1999) · Journal of Political Economy · doi:10.1086/250059 · Cited by 5,210
Economic Reform and the Process of Global Integration
Sachs, J. D., Warner, A., Aslund, A., & Fischer, S. (1995) · Brookings Papers on Economic Activity · doi:10.2307/2534573 · Cited by 4,950
Technology, Geography, and Trade
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Financialization, crisis and commodity correlation dynamics
Silvennoinen, A., & Thorp, S. (2013) · Journal of International Financial Markets, Institutions and Money · doi:10.1016/j.intfin.2012.11.007 · Cited by 650
Financial innovation: The bright and the dark sides
Beck, T., Chen, T., Lin, C., & Song, F. M. (2016) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2016.06.012 · Cited by 426
The More, the Better? Predicting Stock Returns with Local and Global Data
Cakici, N., & Zaremba, A. (2025) · doi:10.2139/ssrn.5181449 · Cited by 2
Metadata
- Authors
- Bekaert, G., Harvey, C. R., Lundblad, C. T., & Siegel, S.
- Venue
- Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2011-10-07
- Volume
- 24
- Issue
- 12
- Pages
- 3841-3890
- ISSN
- 0893-9454 (ISSN-L)
- 1465-7368
- OpenAlex
- W3021107451
- Cited by
- 394
- References
- 63
- FWCI
- 42.72
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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