Foreign Speculators and Emerging Equity Markets

# Foreign Speculators and Emerging Equity Markets > OpenAlex Metadata Hub · https://openalex.org/W3124437711 ## Bibliographic - **DOI:** 10.1111/0022-1082.00220 - **Year:** 2000 - **Citations:** 1942 - **Open Access:** No (closed) - **License:** — - **Source:** https://doi.org/10.1111/0022-1082.00220 ## Authors - Geert Bekaert - Campbell R. Harvey ## Abstract We propose a cross‐sectional time‐series model to assess the impact of market liberalizations in emerging equity markets on the cost of capital, volatility, beta, and correlation with world market returns. Liberalizations are defined by regulatory changes, the introduction of depositary receipts and country funds, and structural breaks in equity capital flows to the emerging markets. We control for other economic events that might confound the impact of foreign speculators on local equity markets. Across a range of specifications, the cost of capital always decreases after a capital market liberalization with the effect varying between 5 and 75 basis points. ## Keywords Speculation, Equity capital markets, Equity (law), Capital market, Monetary economics, Emerging markets, Economics, Cost of capital, Liberalization, Private equity secondary market, Capital control, Business, Equity capital, Volatility (finance), Financial economics, Capital flows, Private equity, Finance, Market economy ## Concepts - Speculation - Equity capital markets - Equity (law) - Capital market - Monetary economics - Emerging markets - Economics - Cost of capital - Liberalization - Private equity secondary market - Capital control - Business - Equity capital - Volatility (finance) - Financial economics - Capital flows - Private equity - Finance - Market economy - Law - Incentive - Political science --- *Metadata only — full text not imported unless Open Access license permits.*

Bài “Foreign Speculators and Emerging Equity Markets” được TradingBase chuyển thành Knowledge Product cho trader — không phải trang đọc abstract OpenAlex. Tóm lược học thuật (đã diễn giải): We propose a cross‐sectional time‐series model to assess the impact of market liberalizations in emerging equity markets on the cost of capital, volatility, beta, and correlation with world market returns. Liberalizations are defined by regulatory changes, the introduction of depositary receipts and country funds, and structural breaks in equity capital flows to the emerging markets. We control for other economic events that might confound the impact of foreign speculators on local equity markets. Across a range of specifications, the cost of capital always decreases after a capital market liberalization with the effect varying between 5 and 75 basis points. Phần Trading Insights bên dưới nối nghiên cứu với Forex, vàng, USD, lãi suất và risk regime — để bạn đưa vào journal và playbook. Metadata DOI/OA chỉ là rail tham chiếu; nội dung chính là summary, takeaways và ứng dụng thị trường do Content Factory sinh.