کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
958375 | 1478847 | 2006 | 21 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Geographic versus industry diversification: Constraints matter
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This research addresses whether geographic diversification provides benefits over industry diversification in the Eurozone. Our contribution is to show that in the absence of constraints, no empirical evidence is found to support the argument that geographic diversification dominates industry diversification, except in the euro subperiod. With short-selling constraints, however, the tangency portfolio of geographic diversification is not attainable by industry diversification. In out-of-sample geographic minimum variance portfolios outperform industry portfolios in economic terms, although we cannot establish statistical significance.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Empirical Finance - Volume 13, Issues 4–5, October 2006, Pages 396–416
Journal: Journal of Empirical Finance - Volume 13, Issues 4–5, October 2006, Pages 396–416
نویسندگان
Paul Ehling, Sofia B. Ramos,