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Cited by 341

The DOI matches its Crossref record; 39 of the 39 references it cites were found in a registry or an index.

Risk Sharing and Asset Prices: Evidence from a Natural Experiment

Chari, Anusha, Henry, Peter Blair·2004·The Journal of Finance
DOI 10.1111/j.1540-6261.2004.00663.x
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Abstract

When countries liberalize their stock markets, firms that become eligible for foreign purchase (investible), experience an average stock price revaluation of 15.1%. Since the historical covariance of the average investible firm's stock return with the local market is roughly 200 times larger than its historical covariance with the world market, liberalization reduces the systematic risk associated with holding investible securities. Consistent with this fact: (1) the average effect of the reduction in systematic risk is 6.8 percentage points, or roughly two fifths of the total revaluation; and (2) the firm‐specific revaluations are directly proportional to the firm‐specific changes in systematic risk.

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Metadata

Authors
Chari, A., & Henry, P. B.
Venue
The Journal of Finance
Publisher
Wiley
Published
2004-06
Volume
59
Issue
3
Pages
1295-1324
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2004.00663.x
OpenAlex
W3124529028
Cited by
341
References
39
FWCI
33.09
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Risk Sharing and Asset Prices: Evidence from a Natural Experiment. https://app.cochat.ai/papers/10.1111/j.1540-6261.2004.00663.x
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Chari, A., & Henry, P. B. (2004). Risk Sharing and Asset Prices: Evidence from a Natural Experiment. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.2004.00663.x

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.