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Suk-Joong Kim and Michael D. McKenzie

Perhaps the most significant development in the global business arena in the post-war period has been the emergence of the Asia-Pacific rim countries as a significant…

Abstract

Perhaps the most significant development in the global business arena in the post-war period has been the emergence of the Asia-Pacific rim countries as a significant economic force.

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Asia-Pacific Financial Markets: Integration, Innovation and Challenges
Type: Book
ISBN: 978-0-7623-1471-3

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International Banking in the New Era: Post-Crisis Challenges and Opportunities
Type: Book
ISBN: 978-1-84950-913-8

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Suk-Joong Kim and Michael D. McKenzie

This chapter considers the relationship between stock market autocorrelation and (i) the presence of international investors which is proxied by the level of capital…

Abstract

This chapter considers the relationship between stock market autocorrelation and (i) the presence of international investors which is proxied by the level of capital market integration and (ii) stock market volatility. Drawing from a sample of nine Asia-Pacific stock indices, significant evidence of a relationship between the presence of international investors and the level of stock market autocorrelation is found. This evidence is consistent with the view that international investors are positive feedback traders. Robustness testing of this model suggests that the trading strategy of international investors changed as a result of the Asian currency crisis. The evidence for the role of volatility in explaining autocorrelation is, however, is generally weak and varies across the sample countries.

Details

Asia-Pacific Financial Markets: Integration, Innovation and Challenges
Type: Book
ISBN: 978-0-7623-1471-3

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Book part

Suk-Joong Kim and Michael D. McKenzie

International banking refers to the activities of providing financial services (banking) to clients (both institutional and individual) located in many different…

Abstract

International banking refers to the activities of providing financial services (banking) to clients (both institutional and individual) located in many different countries. This encompasses a wide range of activities, including transactions with foreigners and domestic residents relating to deposits and lending in domestic and foreign currencies, facilitating foreign currency transactions and foreign exchange risk hedging, participating in international loan syndications, and facilitating international trade finance for clients.

Details

International Banking in the New Era: Post-Crisis Challenges and Opportunities
Type: Book
ISBN: 978-1-84950-913-8

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Abstract

Details

International Banking in the New Era: Post-Crisis Challenges and Opportunities
Type: Book
ISBN: 978-1-84950-913-8

To view the access options for this content please click here

Abstract

Details

International Banking in the New Era: Post-Crisis Challenges and Opportunities
Type: Book
ISBN: 978-1-84950-913-8

To view the access options for this content please click here

Abstract

Details

Asia-Pacific Financial Markets: Integration, Innovation and Challenges
Type: Book
ISBN: 978-0-7623-1471-3

To view the access options for this content please click here
Book part

International Finance Review is an annual book series in the international finance area (broadly defined). The IFR, will publish theoretical, empirical, institutional or…

Abstract

International Finance Review is an annual book series in the international finance area (broadly defined). The IFR, will publish theoretical, empirical, institutional or policy-oriented articles on multinational business finance and strategies, global capital markets and investments, global risk management, global corporate finance and institutions, currency markets and international financial economics, emerging market finance, or related regional or country-specific issues. In general, each volume will have a particular theme. Those interested in contributing an article or editing a volume should contact the Series Editor, J. Jay Choi at E-mail: jjchoi@astro.temple.edu

Details

Asia-Pacific Financial Markets: Integration, Innovation and Challenges
Type: Book
ISBN: 978-0-7623-1471-3

To view the access options for this content please click here
Book part

Abstract

Details

International Banking in the New Era: Post-Crisis Challenges and Opportunities
Type: Book
ISBN: 978-1-84950-913-8

To view the access options for this content please click here

Abstract

Details

Asia-Pacific Financial Markets: Integration, Innovation and Challenges
Type: Book
ISBN: 978-0-7623-1471-3

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