Impetus for future growth in the globalization of stockinvestments: an evidence from joint time series and chaos analyses
Hoque, M.
Saint Xavier Univ., USA;
Abstract
The central focus of this paper is to conduct an elaborate search
for chaos in the national stock market index prices. We looked at 810
days of index prices by employing all the techniques discussed in the
finance literature. The structures sorted out in this paper were
calendar and non-calendar factors. We provide conclusive evidence for
the presence of chaos in national stock index prices data. Most
importantly, this provides a rational impetus for future growth in
international portfolio investments in a highly integrated world.
Furthermore, future exploration of the underlying structure confirmed by
the presence of chaos may lead to the clarification of unexplained
changes in national stock index prices
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