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Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world. / Lucey, Brian; Zhang, Qiyu.
In: Emerging Markets Review, Vol. 11, No. 1, 03.2010, p. 62-78.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Lucey, B & Zhang, Q 2010, 'Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world', Emerging Markets Review, vol. 11, no. 1, pp. 62-78. https://doi.org/10.1016/j.ememar.2009.11.003

APA

Lucey, B., & Zhang, Q. (2010). Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world. Emerging Markets Review, 11(1), 62-78. https://doi.org/10.1016/j.ememar.2009.11.003

Vancouver

Lucey B, Zhang Q. Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world. Emerging Markets Review. 2010 Mar;11(1):62-78. doi: 10.1016/j.ememar.2009.11.003

Author

Lucey, Brian ; Zhang, Qiyu. / Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world. In: Emerging Markets Review. 2010 ; Vol. 11, No. 1. pp. 62-78.

Bibtex

@article{c577af87512c40c7adaebb96bc1ade38,
title = "Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world",
abstract = "Prior research suggests an inverse relationship between geographic distance and financial market linkages. In this paper, we examine whether and how cultural distance between countries mitigates this finding. We find that country-pairs exhibit higher linkages if they have smaller cultural distance. The result remains significant to alternative measures of linkage. Finally, the cultural effect seems to be more pronounced for active-trading country-pairs than thin-trading country-pairs.",
keywords = "Emerging markets, International stock market comovement, Cultural distance",
author = "Brian Lucey and Qiyu Zhang",
year = "2010",
month = mar,
doi = "10.1016/j.ememar.2009.11.003",
language = "English",
volume = "11",
pages = "62--78",
journal = "Emerging Markets Review",
issn = "1566-0141",
publisher = "Elsevier",
number = "1",

}

RIS

TY - JOUR

T1 - Does cultural distance matter in international stock market comovement? Evidence from emerging economies around the world

AU - Lucey, Brian

AU - Zhang, Qiyu

PY - 2010/3

Y1 - 2010/3

N2 - Prior research suggests an inverse relationship between geographic distance and financial market linkages. In this paper, we examine whether and how cultural distance between countries mitigates this finding. We find that country-pairs exhibit higher linkages if they have smaller cultural distance. The result remains significant to alternative measures of linkage. Finally, the cultural effect seems to be more pronounced for active-trading country-pairs than thin-trading country-pairs.

AB - Prior research suggests an inverse relationship between geographic distance and financial market linkages. In this paper, we examine whether and how cultural distance between countries mitigates this finding. We find that country-pairs exhibit higher linkages if they have smaller cultural distance. The result remains significant to alternative measures of linkage. Finally, the cultural effect seems to be more pronounced for active-trading country-pairs than thin-trading country-pairs.

KW - Emerging markets

KW - International stock market comovement

KW - Cultural distance

U2 - 10.1016/j.ememar.2009.11.003

DO - 10.1016/j.ememar.2009.11.003

M3 - Journal article

VL - 11

SP - 62

EP - 78

JO - Emerging Markets Review

JF - Emerging Markets Review

SN - 1566-0141

IS - 1

ER -