Stock Market Valuations across U . S . States

  title={Stock Market Valuations across U . S . States},
  author={Geert Bekaert and Stephan Siegel},
While most consider the United States the world’s flagship capital market in terms of integration and efficiency, we show this is not necessarily the case. Using industryspecific measures of state segmentation, we reveal significant valuation differences across states. Our analysis attempts to explain these differences using state-specific regulatory data… CONTINUE READING