Role of emerging markets vis-a-vis frontier markets in improving portfolio diversification benefits

被引：11

作者：

Thomas, Nisha Mary ^{[1
]}

Kashiramka, Smita ^{[2
]}

Yadav, Surendra Singh ^{[3
]}

Paul, Justin ^{[4
]}

机构：

[1] Int Sch Management Excellence, Sarjapur Rd, Bangalore 562125, Karnataka, India

[2] Indian Inst Technol Delhi, Dept Management Studies, Room 601,6th Floor,Saheed Jeet Singh Marg, New Delhi 110016, India

[3] Indian Inst Technol Delhi, Dept Management Studies, Room 401,4th Floor,Saheed Jeet Singh Marg, New Delhi 110016, India

[4] Univ Puerto Rico UPR, Grad Sch Business Adm, San Juan, PR 00931 USA

来源：

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2022年 / 78卷

关键词：

Asia-pacific; Emerging markets; Europe; Frontier markets; International diversification; Portfolio choice; INTERNATIONAL DIVERSIFICATION; STOCK MARKETS; EQUITY MARKETS; RISK; US; MANAGEMENT; INVESTORS; CONSTRAINTS; COMOVEMENT; ALLOCATION;

D O I：

10.1016/j.iref.2021.11.012

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The study examines the value addition provided by frontier markets vis-a-vis emerging markets in improving the diversification benefits of an international portfolio. The analysis is performed for Asia-Pacific and Europe. It also surveys international investors to corroborate the empirical findings. The results indicate that though frontier markets offer higher diversification opportunities than emerging markets, the frontier market investments are recommended for investors with good risk appetite. Asia-Pacific emerging markets perform better than frontier markets in improving the portfolio's performance. European frontier markets' performance was adversely affected by Covid 19 pandemic. Overall, Asia-Pacific equity markets provide greater potential for diversification than their European counterparts.

引用

页码：95 / 121

页数：27

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