frontier markets in global equity portfolio diversification is clearly less examined. We contribute to the existing literature …

–2009 subprime crisis affect the gains from international diversification from the perspective of US investors. Design … diversification gains. Findings – The authors find that over the entire sample period, the average gains from international … diversification is statistically significant and about 1.253 percent per year. During the subprime crisis period, the average gains …

diversification strategies. The results show that financial integration essentially goes through the effect of the world market … international financial integration and on the expected gains of international diversification strategies. The sample consists of 4 … developed markets in addition of the world market portfolio. The study period lasts between January 1988 and December 2015. This …