TY - JOUR
T1 - Informational content of stock exchanges versus over-the-counter markets
T2 - The behaviour of stock indices around the Asian financial crisis in Japan and Korea
AU - Wada, Kenji
N1 - Funding Information:
1This research received generous financial supported from the Keio Management Society.
Funding Information:
ACKNOWLEDGEMENT This research received generous financial support from the Keio Management Society.
Copyright:
Copyright 2008 Elsevier B.V., All rights reserved.
PY - 2004/12/15
Y1 - 2004/12/15
N2 - The daily returns of the stock exchange index and the over-the counter (OTC) index in Japan and Korea around the Asian financial crisis are investigated. The stock exchange index contains information on relatively old technology sectors, while the OTC index contains information on relatively new technology sectors. Although previous studies focused only on the performance of the former, the behaviour of these two indices around the crisis is shown to be different. Thus, additional insight is obtained by considering these two market indices at the same time.
AB - The daily returns of the stock exchange index and the over-the counter (OTC) index in Japan and Korea around the Asian financial crisis are investigated. The stock exchange index contains information on relatively old technology sectors, while the OTC index contains information on relatively new technology sectors. Although previous studies focused only on the performance of the former, the behaviour of these two indices around the crisis is shown to be different. Thus, additional insight is obtained by considering these two market indices at the same time.
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U2 - 10.1080/1350485042000291358
DO - 10.1080/1350485042000291358
M3 - Article
AN - SCOPUS:12144254387
SN - 1350-4851
VL - 11
SP - 949
EP - 955
JO - Applied Economics Letters
JF - Applied Economics Letters
IS - 15
ER -