Lucey, Brian and Zhang, Qiyu (2010) Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world. Emerging Markets Review, 11 (1). pp. 62-78. ISSN 1566-0141Full text not available from this repository.
Prior research suggests an inverse relationship between geographic distance and financial market linkages. In this paper, we examine whether and how cultural distance between countries mitigates this finding. We find that country-pairs exhibit higher linkages if they have smaller cultural distance. The result remains significant to alternative measures of linkage. Finally, the cultural effect seems to be more pronounced for active-trading country-pairs than thin-trading country-pairs.
|Journal or Publication Title:||Emerging Markets Review|
|Uncontrolled Keywords:||Emerging markets ; International stock market comovement ; Cultural distance|
|Subjects:||H Social Sciences > HG Finance|
|Departments:||Lancaster University Management School > Accounting & Finance|
|Deposited On:||26 Jul 2012 13:09|
|Last Modified:||16 Jan 2017 03:24|
Actions (login required)