Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
964093 | Journal of International Financial Markets, Institutions and Money | 2012 | 19 Pages |
Abstract
⺠We analyze whether capital account liberalization leads to higher asset prices. ⺠We find positive and significant abnormal returns around the announcement day. ⺠The favorable effect of liberalization on stock prices varies across industries. ⺠Individual stocks' risk, measured as a beta, falls in the post-liberalization period. ⺠Capital account liberalization could improve firm value in the short-term.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Chaiporn Vithessonthi, Jittima Tongurai,