This paper deals with the country allocation provides benefits over industry allocation in a sample of European country and industry indexes.

This paper anwers the question if the euro and accompanying measures of financial integration had a discernable impact on the degree of diversification of European investors?

The purpose of this study is to assess the diversification benefits resulting from international asset allocation. In this study, we examine Capital Asset Pricing Model (CAPM) in its international context (ICAPM) using the monthly equity returns for 26 countries (18 developed and 8 emerging...

This study proposes a wavelet procedure for estimating partial correlation coefficients between stock market returns over different time scales. The estimated partial correlations are subsequently used in a cluster analysis to identify, for each time scale, groups of stocks that exhibit distinct...