Access the full text.
Sign up today, get DeepDyve free for 14 days.
Larry Dann, D. Mayers, Robert Raab (1977)
Trading rules, large blocks and the speed of price adjustmentJournal of Financial Economics, 4
Cheol Eun, S. Janakiramanan (1986)
A Model of International Asset Pricing with a Constraint on the Foreign Equity OwnershipJournal of Finance, 41
M. Adler, David Simon (1986)
Exchange risk surprises in international portfolios, 12
D. Cass, J. Stiglitz (1970)
The structure of investor preferences and asset returns, and separability in portfolio allocation: A contribution to the pure theory of mutual fundsJournal of Economic Theory, 2
Solnik Solnik (1974a)
The international pricing of risk: An empirical investigation of the world capital market structureJournal of Finance, 29
Philippe Jorion, Eduardo Schwartz (1986)
Integration vs. Segmentation in the Canadian Stock MarketJournal of Finance, 41
V. Errunza, Etienne Losq (1985)
International Asset Pricing under Mild Segmentation: Theory and TestJournal of Finance, 40
R. Stehle (1976)
The valuation of risk assets in an international capital market : theory and tests
D. Lessard (1975)
World, Country, and Industry Relationships in Equity Returns: Implications for Risk Reduction through International DiversificationFinancial Analysts Journal, 32
A. Kraus, H. Stoll (1972)
PRICE IMPACTS OF BLOCK TRADING ON THE NEW YORK STOCK EXCHANGEJournal of Finance, 27
Bruno Solnik (1977)
TESTING INTERNATIONAL ASSET PRICING: SOME PESSIMISTIC VIEWSJournal of Finance, 32
Myron Scholes (1972)
The Market for Securities: Substitution Versus Price Pressure and the Effects of Information on Share PricesThe Journal of Business, 45
Michael Adler, Bruno Solnik (1974)
Session Topic: Capital Asset Pricing Models in an International Context: THE INTERNATIONAL PRICING OF RISK: AN EMPIRICAL INVESTIGATION OF THE WORLD CAPITAL MARKET STRUCTUREJournal of Finance, 29
Solnik Solnik (1984)
Capital markets and international monetary variablesFinancial Analysts Journal, 40
Y. Amihud, H. Mendelson (1986)
Asset pricing and the bid-ask spreadJournal of Financial Economics, 17
J. Mossin (1966)
EQUILIBRIUM IN A CAPITAL ASSET MARKETEconometrica, 34
Cass Cass, Joseph Joseph (1970)
A contribution to the pure theory of mutual fundsJournal of Economic Theory, 4
F. Black (1974)
International capital market equilibrium with investment barriersJournal of Financial Economics, 1
R. Grauer., N. Hakansson. (1987)
Gains from International Diversification: 1968–85 Returns on Portfolios of Stocks and BondsJournal of Finance, 42
Bruno Solnik (1984)
Stock Prices and Monetary Variables: The International EvidenceFinancial Analysts Journal, 40
Bruno Solnik (1974)
An equilibrium model of the international capital marketJournal of Economic Theory, 8
J. Lintner (1965)
THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETSThe Review of Economics and Statistics, 47
W. Sharpe (1964)
CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK*Journal of Finance, 19
René Stulz (1981)
On the Effects of Barriers to International InvestmentJournal of Finance, 36
ABSTRACT This paper analyzes asset pricing in a partially segmented market where citizens of a small country are allowed to hold only their domestic securities, whereas the rest of the investors (“foreigners”) are essentially allowed to hold all securities. In this market setting it may occur that the citizens of the small country are willing to pay less for their domestic securities than are the foreign investors. The paper derives equilibrium required rates of return for different investors in this market setting which perfectly occurred in Finland and tests this equilibrium model using data from the Finnish stock market. Empirical results are consistent with the hypotheses derived from the model.
The Journal of Finance – Wiley
Published: Jul 1, 1989
Read and print from thousands of top scholarly journals.
Already have an account? Log in
Bookmark this article. You can see your Bookmarks on your DeepDyve Library.
To save an article, log in first, or sign up for a DeepDyve account if you don’t already have one.
Copy and paste the desired citation format or use the link below to download a file formatted for EndNote
Access the full text.
Sign up today, get DeepDyve free for 14 days.
All DeepDyve websites use cookies to improve your online experience. They were placed on your computer when you launched this website. You can change your cookie settings through your browser.