Stock Market Openings: Experience of Emerging Economies

@article{Kim2000StockMO,
  title={Stock Market Openings: Experience of Emerging Economies},
  author={E. H. Kim and V. Singal},
  journal={The Journal of Business},
  year={2000},
  volume={73},
  pages={25-66}
}
  • E. H. Kim, V. Singal
  • Published 2000
  • Economics
  • The Journal of Business
  • This article is an exploratory examination of the benefits and risks associated with opening of stock markets. Specifically, we estimate changes in the level and volatility of stock returns, inflation, and exchange rates around market openings. We find that stock returns increase immediately after market opening without a concomitant increase in volatility. Stock markets become more efficient as determined by testing the random walk hypothesis. We find no evidence of an increase in inflation or… CONTINUE READING
    559 Citations

    Figures and Tables from this paper

    Financial globalization and stock market risk
    • 34
    • PDF
    Investibility and Return Volatility in Emerging Equity Markets
    • 26
    • Highly Influenced
    • PDF
    Investibility and return volatility
    • 139

    References

    SHOWING 1-10 OF 61 REFERENCES
    Options markets and stock return volatility
    • 265
    Stock returns and volatility in emerging financial markets
    • 482
    • PDF
    Emerging Equity Market Volatility
    • 1,641
    • PDF
    Return Behavior in Emerging Stock Markets
    • 268
    • Highly Influential
    Foreign Speculators and Emerging Equity Markets
    • 1,763
    • PDF
    A Measure of Stock Market Integration for Developed and Emerging Markets
    • 206
    • Highly Influential
    • PDF