European Financial Markets
EU membership involves political and economic reforms which influence financial markets in the new member states. This study empirically explores and quantifies the effects of EU accession on the risk and return of equity markets in eight Central and Eastern European markets joining the EU i...
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| Định dạng: | Sách |
| Ngôn ngữ: | English |
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Springer
2017
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| Truy cập trực tuyến: | http://repository.vnu.edu.vn/handle/VNU_123/28302 |
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oai:112.137.131.14:VNU_123-283022020-05-13T01:41:30Z European Financial Markets Southall, Tony Business and Economics EU membership involves political and economic reforms which influence financial markets in the new member states. This study empirically explores and quantifies the effects of EU accession on the risk and return of equity markets in eight Central and Eastern European markets joining the EU in 2004. The study also incorporates a review of how the influence of macroeconomic variables and the level of integration with global and European markets change as a result of EU membership. Based on empirical tests using weekly data over ten years, this study concludes that EU membership results in a significant decline in equity market volatility and a significant increase in risk-adjusted, but not absolute, equity returns. Furthermore, the study suggests that equity markets in new EU member states become increasingly influenced by global rather than local macroeconomic factors after the EU accession and that the level of integration with global markets increases. 2017-04-14T02:04:55Z 2017-04-14T02:04:55Z 2008 Book 200 p. 9783790820737 http://repository.vnu.edu.vn/handle/VNU_123/28302 en application/pdf Springer |
| institution |
Đại học Quốc Gia Hà Nội |
| collection |
DSpace |
| language |
English |
| topic |
Business and Economics |
| spellingShingle |
Business and Economics Southall, Tony European Financial Markets |
| description |
EU membership involves political and economic reforms
which influence financial markets in the new member states.
This study empirically explores and quantifies the effects of
EU accession on the risk and return of equity markets in eight
Central and Eastern European markets joining the EU in 2004.
The study also incorporates a review of how the influence of
macroeconomic variables and the level of integration with
global and European markets change as a result of
EU membership.
Based on empirical tests using weekly data over ten years,
this study concludes that EU membership results in a
significant decline in equity market volatility and a
significant increase in risk-adjusted, but not absolute,
equity returns. Furthermore, the study suggests that equity
markets in new EU member states become increasingly
influenced by global rather than local macroeconomic
factors after the EU accession and that the level of integration
with global markets increases. |
| format |
Book |
| author |
Southall, Tony |
| author_facet |
Southall, Tony |
| author_sort |
Southall, Tony |
| title |
European Financial Markets |
| title_short |
European Financial Markets |
| title_full |
European Financial Markets |
| title_fullStr |
European Financial Markets |
| title_full_unstemmed |
European Financial Markets |
| title_sort |
european financial markets |
| publisher |
Springer |
| publishDate |
2017 |
| url |
http://repository.vnu.edu.vn/handle/VNU_123/28302 |
| work_keys_str_mv |
AT southalltony europeanfinancialmarkets |
| _version_ |
1787735772459171840 |