THE ROLE OF GOLD IN FINANCIAL INVESTMENT: A MALAYSIAN PERSPECTIVE

被引：0
作者：
Ibrahim, Mansor H. [1 ]
Baharom, A. H. [2 ]
机构：
[1] Int Ctr Educ Islamic Finance INCEIF, Kuala Lumpur, Malaysia
[2] Taylors Univ, Subang Jaya Selangor, Malaysia
来源：
ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH | 2011年 / 45卷 / 04期
关键词：
Financial Investment; Gold; Diversification; Hedge; Safe Haven;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The paper assesses whether gold investment provides diversification, hedge, or safe haven benefit for the case of Malaysia using daily data from August 2001 to March 2010. The results indicate that at best gold serves as a diversification asset for Malaysian investors. In the analysis, we also find changing investment role of gold in recent years marked by global financial market uncertainties. The hedge and safe haven properties of gold investment documented in the initial sub-sample have been degraded to only diversification property. Moreover, the extreme market conditions tend to weaken the role of gold as a diversification asset in financial portfolio formation.
引用
收藏
页码：227 / 238
页数：12
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