International financial market integration: an examination of six stocks markets
The recent daily data (Jan. 1, 1990 - July, 22,1992) of six stock markets namely, Japan, Hong Kong, Malaysia, Australia, the US, and the UK were used in this study to examine the degree of integration of these markets by using simple correlation and multiple regression analysis. The study found tha...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Penerbit Universiti Kebangsaan Malaysia
1994
|
| Online Access: | http://journalarticle.ukm.my/7960/ http://journalarticle.ukm.my/7960/ http://journalarticle.ukm.my/7960/1/792-1514-1-SM.pdf |
| id |
ukm-7960 |
|---|---|
| recordtype |
eprints |
| spelling |
ukm-79602016-12-14T06:45:46Z http://journalarticle.ukm.my/7960/ International financial market integration: an examination of six stocks markets Omar Marashdeh, The recent daily data (Jan. 1, 1990 - July, 22,1992) of six stock markets namely, Japan, Hong Kong, Malaysia, Australia, the US, and the UK were used in this study to examine the degree of integration of these markets by using simple correlation and multiple regression analysis. The study found that Hong Kong has a higher degree of integration with all markets. The US market has a low degree of integration with all markets. UK is influenced by informational flow from the US, Japan, and Hong Kong. Malaysian market is influenced by informational flow from the US, Japan, and Hong Kong. Japan is influenced by Informational flow from Australia, the UK, Malaysia, and Hong Kong. Australia is affected by informational flow from the US, the UK, Japan, and Hong Kong. Hong Kong and Japan influence all these six markets except the US The US market leads the four Asian-Pacific markets (Malaysia, Japan, Hong Kong, and Australia) and contemporarily influences the UK Asian-Pacific markets do not influence the us market. Asian-Pacific markets show a higher degree of integratiOn with each other The relationship between the six stock markets are stable as shown by the Chow test. Penerbit Universiti Kebangsaan Malaysia 1994 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/7960/1/792-1514-1-SM.pdf Omar Marashdeh, (1994) International financial market integration: an examination of six stocks markets. Jurnal Pengurusan, 13 . pp. 89-100. ISSN 0127-2713 http://ejournals.ukm.my/pengurusan/issue/view/202 |
| repository_type |
Digital Repository |
| institution_category |
Local University |
| institution |
Universiti Kebangasaan Malaysia |
| building |
UKM Institutional Repository |
| collection |
Online Access |
| language |
English |
| description |
The recent daily data (Jan. 1, 1990 - July, 22,1992) of six stock markets namely, Japan, Hong Kong, Malaysia, Australia, the US, and the UK were used in this study to examine the degree of integration of these markets by
using simple correlation and multiple regression analysis. The study found that Hong Kong has a higher degree of integration with all markets. The US market has a low degree of integration with all markets. UK is influenced by
informational flow from the US, Japan, and Hong Kong. Malaysian market is influenced by informational flow from the US, Japan, and Hong Kong. Japan is influenced by Informational flow from Australia, the UK, Malaysia,
and Hong Kong. Australia is affected by informational flow from the US, the UK, Japan, and Hong Kong. Hong Kong and Japan influence all these six markets except the US The US market leads the four Asian-Pacific markets
(Malaysia, Japan, Hong Kong, and Australia) and contemporarily influences the UK Asian-Pacific markets do not influence the us market. Asian-Pacific markets show a higher degree of integratiOn with each other The relationship between the six stock markets are stable as shown by the Chow test. |
| format |
Article |
| author |
Omar Marashdeh, |
| spellingShingle |
Omar Marashdeh, International financial market integration: an examination of six stocks markets |
| author_facet |
Omar Marashdeh, |
| author_sort |
Omar Marashdeh, |
| title |
International financial market integration: an examination of six stocks markets |
| title_short |
International financial market integration: an examination of six stocks markets |
| title_full |
International financial market integration: an examination of six stocks markets |
| title_fullStr |
International financial market integration: an examination of six stocks markets |
| title_full_unstemmed |
International financial market integration: an examination of six stocks markets |
| title_sort |
international financial market integration: an examination of six stocks markets |
| publisher |
Penerbit Universiti Kebangsaan Malaysia |
| publishDate |
1994 |
| url |
http://journalarticle.ukm.my/7960/ http://journalarticle.ukm.my/7960/ http://journalarticle.ukm.my/7960/1/792-1514-1-SM.pdf |
| first_indexed |
2023-09-18T19:51:06Z |
| last_indexed |
2023-09-18T19:51:06Z |
| _version_ |
1777406224866738176 |