What is it about?
This paper tests an asset pricing model for mildly segmented stock markets i.e. it takes into account global and local market risk.
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Why is it important?
What is unique in this paper is the idea of allowing the "importance" of these two sources of risk to vary over time especially with the percentage of stocks owned by the foreigners in Finnish stock market.
Perspectives
This paper was part of my doctoral dissertation.
Professor Mika Vaihekoski
Turun Yliopisto
Read the Original
This page is a summary of: World capital markets and Finnish stock returns, European Journal of Finance, September 2002, Taylor & Francis,
DOI: 10.1080/13518470010007418.
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