Handbook of Frontier Markets

The African, European and Asian Evidence
 
 
Academic Press
  • 1. Auflage
  • |
  • erschienen am 5. August 2016
  • |
  • 304 Seiten
 
E-Book | ePUB mit Adobe DRM | Systemvoraussetzungen
E-Book | PDF mit Adobe DRM | Systemvoraussetzungen
978-0-12-803840-6 (ISBN)
 

Handbook of Frontier Markets: The European and African Evidence provides novel insights from academic perspectives about the behavior of investors and prices in several frontier markets. It explores finance issues usually reserved for developed and emerging markets in order to gauge whether these issues are relevant and how they manifest themselves in frontier markets.

Frontier markets have now become a popular investment class among institutional investors internationally, with major financial services providers establishing index-benchmarks for this market-category. The anticipation for frontier markets is optimistic uncertainty, and many people believe that, given their growth rates, these markets will be economic success stories. Irrespective of their degrees of success, The Handbook of Frontier Markets can help ensure that the increasing international investment diverted to them will aid in their greater integration within the global financial system.


  • Presents topics in the context of frontier markets and uses tests based on established methodologies from finance research
  • Draws from authors who are established university academics
  • Pays particular attention to financial institutions and applications of financial risk models
  • Explores finance issues usually reserved for developed and emerging markets in order to gauge whether these issues are relevant and how they manifest themselves in frontier markets
  • Englisch
  • San Diego
  • |
  • USA
Elsevier Science
  • 10,06 MB
978-0-12-803840-6 (9780128038406)
0128038403 (0128038403)
weitere Ausgaben werden ermittelt
  • Cover
  • Title page
  • Copyright page
  • Contents
  • List of Contributors
  • About the Editors
  • About the Contributors
  • Acknowledgment
  • Section A - Africa
  • Chapter 1 - Testing for the Weak-Form Market Efficiency of the Dar es Salaam Stock Exchange
  • 1 - Introduction
  • 2 - The Random Walk Theory and the Efficient Market Hypothesis
  • 3 - Empirical Literature Review on Weak-Form Market Efficiency
  • 4 - Data Sources
  • 5 - Methodology
  • 5.1 - Augmented Dickey-Fuller Test
  • 5.2 - The Variance Ratio Test
  • 5.3 - Ranks- and Signs-Based Variance Ratio Tests
  • 6 - Analyses and Presentation of the Results
  • 6.1 - Descriptive Statistics and Diagnostics
  • 6.2 - Augmented Dickey-Fuller Test Results
  • 6.3 - Variance Ratio Test Results
  • 6.4 - Ranks- and Signs-Based Variance Ratio Tests
  • 6.5 - Summary of the Findings
  • 7 - Conclusions and Recommendations
  • References
  • Chapter 2 - Stock Returns and Inflation: The Case of Botswana
  • 1 - Introduction
  • 2 - Literature Review
  • 3 - Overview of the Economy of Botswana
  • 4 - Data and Methodology
  • 4.1 - Data
  • 4.2 - Methodology
  • 5 - Results
  • 6 - Conclusions
  • References
  • Chapter 3 - Modeling and Forecasting Stock Market Volatility in Frontier Markets: Evidence From Four European and Four A...
  • 1 - Introduction
  • 2 - Background Information
  • 2.1 - Importance of Volatility Forecastinga
  • 2.2 - Emerging Markets or Country Samples
  • 2.3 - Modeling of Volatility Forecasting
  • 3 - Data
  • 4 - Methodology
  • 4.1 - ARCH Effects
  • 4.2 - Generalized Autoregressive Conditional Heteroscedasticity (GARCH)
  • 4.3 - Exponential GARCH (EGARCH)
  • 4.4 - Component GARCH (CGARCH)
  • 4.5 - Comparisons of Forecast Performance
  • 5 - Findings and Discussions
  • 6 - Conclusions and Further Research
  • References
  • Chapter 4 - Herd Behavior in Frontier Markets: Evidence from Nigeria and Morocco
  • 1 - Introduction
  • 2 - Methodology and Data
  • 2.1 - Methodology
  • 2.2 - Data
  • 3 - Empirical Results
  • 4 - Conclusions
  • References
  • Chapter 5 - Effects of Interest Rates and Exchange Rates on Bank Stock Returns
  • 1 - Introduction
  • 1.1 - Data and Methodology
  • 1.2 - Results and Analysis
  • 2 - Conclusions
  • References
  • Chapter 6 - Financial Contagion From US to African Frontier Markets During the 2007-09 Global Financial Crisis
  • 1 - Introduction, Aims, and Literature
  • 2 - Data and Descriptive Statistics
  • 2.1 - Data Sources and Descriptive Statistics
  • 3 - Hypotheses and Methodology
  • 3.1 - Hypothesis 1
  • 3.2 - Hypothesis 2
  • 3.3 - Methodology
  • 3.4 - Robustness Testing
  • 4 - Results
  • 4.1 - Robustness Tests
  • 5 - Discussions
  • 5.1 - Decision Fatigue in Africa
  • 5.2 - Loss Aversion in Developed Markets
  • 6 - Conclusions
  • References
  • Appendix 1: Time-Varying Correlations of US with African Markets
  • Appendix 2: Time-Varying Correlations of US with Developed Markets
  • Section B - Europe
  • Chapter 7 - An Assessment of the Real Development Prospects of the EU 28 Frontier Equity Markets
  • 1 - Introduction
  • 2 - A Comparative Analysis of the EU 10 Frontier Markets
  • 3 - Hypothesis, Data, and Research Results
  • 3.1 - The Granger Causality for Testing Hypothesis 1 and 1 Modified
  • 3.2 - Historic Betas for Testing Hypothesis 2
  • 4 - Discussions and Conclusions
  • 4.1 - Discussions
  • 4.2 - Conclusions
  • References
  • Reports
  • Chapter 8 - Are European Frontier Markets Efficient?
  • 1 - Introduction
  • 2 - The Theory of Informational Market Efficiency
  • 3 - The Empirical Literature on Frontier Markets and Informational Efficiency
  • 3.1 - Informational Efficiency and Frontier Markets
  • 4 - Methodology
  • 5 - Overview of Eastern European Markets and Sample Selection
  • 5.1 - Eastern European Markets
  • 5.2 - Sample Selection
  • 6 - Results
  • 7 - Conclusions and Recommendations
  • References
  • Chapter 9 - Another Look at Financial Analysts' Forecasts Accuracy: Recent Evidence From Eastern European Frontier Markets
  • 1 - Introduction
  • 2 - Conceptual Framework
  • 2.1 - Financial Analysts' Forecast Accuracy
  • 2.2 - Financial Analysts' Forecast Bias
  • 3 - Data and Methodology
  • 3.1 - Data
  • 3.2 - FAF Accuracy on Eastern European Frontier Markets
  • 3.3 - FAF Bias on Eastern European Frontier Markets
  • 3.4 - FAF by Subperiods and Types of Earnings
  • 4 - Analysis of FAF on Eastern European Frontier Markets
  • 4.1 - Analysis of FAF Accuracy
  • 4.1.1 - Before the Crisis: 2005-07
  • 4.1.2 - During the Crisis: 2008-10
  • 4.1.3 - After the Crisis: 2011-13
  • 4.2 - Analysis of FAF Bias
  • 4.3 - Analysis of the Evolution of FAFE by Types of Earnings
  • 4.3.1 - Earnings Profits Versus Earnings Losses
  • 4.3.2 - Earnings Increases Versus Earnings Decreases
  • 5 - Conclusions
  • References
  • Chapter 10 - Are There Herding Patterns in the European Frontier Markets?
  • 1 - Introduction
  • 2 - Database
  • 3 - Methodology
  • 3.1 - CH and CCK Methods
  • 3.2 - Gephi Proposal
  • 4 - Empirical Results
  • 4.1 - Descriptive Statistics
  • 4.2 - Evidence on Herding: CH and CCK Methodsa
  • 4.3 - Evidence of Herding: Gephi
  • 5 - Conclusions
  • Acknowledgment
  • References
  • Section C - Asia
  • Chapter 11 - Is Bankruptcy a Systematic Risk? Evidence From Vietnam
  • 1 - Introduction
  • 2 - Literature Review
  • 3 - Research Design, Data, and Methodology
  • 4 - Results of Analysis and Discussion of Findings
  • 5 - Conclusions and Recommendations
  • References
  • Chapter 12 - Investors' Herding in Frontier Markets: Evidence From Mongolia
  • 1 - Introduction
  • 2 - Mongolian Stock Exchange: A Brief Overview
  • 3 - Data and Methodology
  • 4 - Results and Conclusion
  • References
  • Chapter 13 - Structural Breaks, Efficiency, and Volatility: An Empirical Investigation of Southeast Asian Frontier Markets
  • 1 - Introduction
  • 2 - Literature Review
  • 3 - Data and Methodology
  • 3.1 - The Data
  • 3.2 - Tests for Randomness
  • 3.3 - Structural Breaks, Long Memory Dynamics, and Test for Volatility
  • 4 - Empirical Results
  • 4.1 - Results From Randomness Tests
  • 4.2 - Results on Structural Breaks and Volatility
  • 5 - Conclusions
  • References
  • Index
  • Back cover

Dateiformat: EPUB
Kopierschutz: Adobe-DRM (Digital Rights Management)

Systemvoraussetzungen:

Computer (Windows; MacOS X; Linux): Installieren Sie bereits vor dem Download die kostenlose Software Adobe Digital Editions (siehe E-Book Hilfe).

Tablet/Smartphone (Android; iOS): Installieren Sie bereits vor dem Download die kostenlose App Adobe Digital Editions (siehe E-Book Hilfe).

E-Book-Reader: Bookeen, Kobo, Pocketbook, Sony, Tolino u.v.a.m. (nicht Kindle)

Das Dateiformat EPUB ist sehr gut für Romane und Sachbücher geeignet - also für "fließenden" Text ohne komplexes Layout. Bei E-Readern oder Smartphones passt sich der Zeilen- und Seitenumbruch automatisch den kleinen Displays an. Mit Adobe-DRM wird hier ein "harter" Kopierschutz verwendet. Wenn die notwendigen Voraussetzungen nicht vorliegen, können Sie das E-Book leider nicht öffnen. Daher müssen Sie bereits vor dem Download Ihre Lese-Hardware vorbereiten.

Weitere Informationen finden Sie in unserer E-Book Hilfe.


Dateiformat: PDF
Kopierschutz: Adobe-DRM (Digital Rights Management)

Systemvoraussetzungen:

Computer (Windows; MacOS X; Linux): Installieren Sie bereits vor dem Download die kostenlose Software Adobe Digital Editions (siehe E-Book Hilfe).

Tablet/Smartphone (Android; iOS): Installieren Sie bereits vor dem Download die kostenlose App Adobe Digital Editions (siehe E-Book Hilfe).

E-Book-Reader: Bookeen, Kobo, Pocketbook, Sony, Tolino u.v.a.m. (nicht Kindle)

Das Dateiformat PDF zeigt auf jeder Hardware eine Buchseite stets identisch an. Daher ist eine PDF auch für ein komplexes Layout geeignet, wie es bei Lehr- und Fachbüchern verwendet wird (Bilder, Tabellen, Spalten, Fußnoten). Bei kleinen Displays von E-Readern oder Smartphones sind PDF leider eher nervig, weil zu viel Scrollen notwendig ist. Mit Adobe-DRM wird hier ein "harter" Kopierschutz verwendet. Wenn die notwendigen Voraussetzungen nicht vorliegen, können Sie das E-Book leider nicht öffnen. Daher müssen Sie bereits vor dem Download Ihre Lese-Hardware vorbereiten.

Weitere Informationen finden Sie in unserer E-Book Hilfe.


Download (sofort verfügbar)

98,71 €
inkl. 19% MwSt.
Download / Einzel-Lizenz
ePUB mit Adobe DRM
siehe Systemvoraussetzungen
PDF mit Adobe DRM
siehe Systemvoraussetzungen
Hinweis: Die Auswahl des von Ihnen gewünschten Dateiformats und des Kopierschutzes erfolgt erst im System des E-Book Anbieters
E-Book bestellen

Unsere Web-Seiten verwenden Cookies. Mit der Nutzung des WebShops erklären Sie sich damit einverstanden. Mehr Informationen finden Sie in unserem Datenschutzhinweis. Ok