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
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