EconPapers    
Economics at your fingertips  
 

Integration, investor protection rules and global informational inefficiency of emerging financial markets

Nicholas Addai Boamah ()
Additional contact information
Nicholas Addai Boamah: KNUST School of Business

SN Business & Economics, 2021, vol. 1, issue 6, 1-22

Abstract: Abstract Relying on dynamic conditional correlations, state space model and variance decomposition techniques, the study explores the delay in global information diffusion into emerging market security prices. It examines the relevance of financial market integration, economic engagement and investor rights protection regimes in describing the cross-section and time-series variability in global informational inefficiency of emerging markets. The study provides evidence of substantial variations overtime of both the degree of integration and information delay estimates. The study shows that financial market integration, economic integration, and investor protection regulations describe the time-lag within which emerging market security prices incorporate global information. The findings suggest that emerging markets should facilitate their global integration process, improve their domestic economic environment and investor protection regimes. These are essential in facilitating timely global information incorporation into emerging market security prices, attracting foreign capital and minimising projects cost of capital.

Keywords: Global information delay; Financial market integration; Investor protection rules; Contract enforcements (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1007/s43546-021-00084-3 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:snbeco:v:1:y:2021:i:6:d:10.1007_s43546-021-00084-3

Ordering information: This journal article can be ordered from
https://www.springer.com/journal/43546

DOI: 10.1007/s43546-021-00084-3

Access Statistics for this article

SN Business & Economics is currently edited by Gino D'Oca

More articles in SN Business & Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2022-05-12
Handle: RePEc:spr:snbeco:v:1:y:2021:i:6:d:10.1007_s43546-021-00084-3