Please use this identifier to cite or link to this item: http://ktisis.cut.ac.cy/handle/10488/6738
Title: Linkages between the U.S. and Japanese stock markets: a bivariate garch-m analysis
Authors: Koutmos, Gregory
Theodossiou, Panayiotis 
Keywords: Finance
Stock markets
New York Stock Exchange
Issue Date: 1994
Publisher: Elsevier
Source: Global finance journal, 1994, Volume 5, Issue 2, Pages 277–287
Abstract: Early empirical studies found that the Japanese stock market was one of the least integrated, had many unique characteristics, and was relatively isolated from other national stock markets, e.g., Ripley (1973). However, the gradual liberalization of the Japanese product and capital markets has substantially changed this picture. The Tokyo Stock Exchange (TSE) is increasingly becoming one of the most important players in the international arena. Along with the New York Stock Exchange (NYSE), they are the largest in terms of capitalization, volume and shares listed, and are perhaps the most influential in the world. The general movement of stock prices on the NYSE and TSE receive considerable attention from the international press, portfolio managers, international mutual funds, and financial institutions, among others. Exploring the nature and degree of interdependence between the two stock exchanges is, therefore, an important task and of interest to both private and institutional investors.
URI: http://ktisis.cut.ac.cy/handle/10488/6738
ISSN: 1044-0283
DOI: 10.1016/1044-0283(94)90008-6
Rights: Copyright © 1994 by JAl Press Inc
Appears in Collections:Άρθρα/Articles

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