Determinants of Stock Market Integration

Ekaterina Dorodnykh

Chapter 3 in Stock Market Integration: An International Perspective, 2014, pp 50-83 from Palgrave Macmillan

Abstract: Abstract This chapter contains the complete multistage statistical data analysis, based on a unique database of 49 stock exchange markets around the world from 1995 to 2010, investigating the determinants of stock exchange integration and testing the relevance of possible explanatory drivers that can determine the existence of de jure stock market integration. Overall, the research confirms the complexity of the integration process, and how it depends on different macroeconomic, structural, cultural-geographical and operative forces. The final results demonstrate that financial harmonization, cross-membership agreements, for-profit corporate structure and integration openness are important factors of stock exchange fusion. By contrast, the large size of stock exchange market has a negative impact on the likelihood of successful merger.

Keywords: cluster analysis; Johansen cointegration test; multivariable logit regression (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:palchp:978-1-137-38170-5_4

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137381705

DOI: 10.1057/9781137381705_4

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().