The Effectiveness of Investing in Stock Exchange Markets in Central and Eastern European Countries with Regard to NYSE2-LSE-HKSE2. a Comparative Risk Analysis

Pera Jacek ()
Additional contact information
Pera Jacek: Ph.D., Krakow University of Economics, Faculty of Economics and International Relations, International Economics Department, Krakow, Poland

Comparative Economic Research, 2019, vol. 22, issue 2, 121-140

Abstract: The aim of this paper is to assess the effectiveness and risk in the stock exchange market in Central and Eastern Europe countries (CEE) in view of the largest stock exchanges: NYSE2-LSE-HKSE2. The implementation of this objective was based on an analysis of basic stock market indicators and a discussion of the investment effectiveness of the stock exchange and the risk and investment effectiveness analysis in the stock exchange market in CEE with regard to NYSE2-LSE-HKSE2 – assumptions, test method, tests results. The following working hypothesis was adopted in the analysis: Despite high vulnerability to investment risk, the stock exchanges in CEE, due to dynamic development, are improving their investment position with regard to global stock exchanges. The relative indices of stock market attractiveness and an autoregressive model for forecasting changes in the stock market index were used to verify this thesis. The results from the tests make it possible to state that the stock exchanges in CEE are constantly improving their position with regard to operational effectiveness and risk mitigation when compared to the largest global stock exchanges analysed, ambitiously striving to become significant financial centres within Europe and worldwide.

Keywords: index; ratio; securities; stock exchange; risk (search for similar items in EconPapers)
JEL-codes: C1 C5 F3 G1 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/cer-2019-0016 (text/html)

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:vrs:coecre:v:22:y:2019:i:2:p:121-140:n:8

DOI: 10.2478/cer-2019-0016

Access Statistics for this article

Comparative Economic Research is currently edited by Zofia Wysokińska

More articles in Comparative Economic Research from Sciendo
Bibliographic data for series maintained by Peter Golla ().