Contributions to Economics

European Financial Markets

The Effects of European Union Membership on Central and Eastern European Equity Markets

Authors: Southall, Tony

  • Integration of financial markets in an enlarged EU
  • Empirical study of effects on equity markets
  • Valuable insights both for academics and practitioners, e.g. portfolio managers
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Hardcover $169.00
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About this book

EU membership involves political and economic reforms
which influence financial markets in the new member states.
This study empirically explores and quantifies the effects of
EU accession on the risk and return of equity markets in eight
Central and Eastern European markets joining the EU in 2004.
The study also incorporates a review of how the influence of
macroeconomic variables and the level of integration with
global and European markets change as a result of
EU membership.
Based on empirical tests using weekly data over ten years,
this study concludes that EU membership results in a
significant decline in equity market volatility and a
significant increase in risk-adjusted, but not absolute,
equity returns. Furthermore, the study suggests that equity
markets in new EU member states become increasingly
influenced by global rather than local macroeconomic
factors after the EU accession and that the level of integration
with global markets increases.

Table of contents (7 chapters)

Buy this book

eBook $129.00
price for USA (gross)
  • ISBN 978-3-7908-2074-4
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $169.00
price for USA
  • ISBN 978-3-7908-2073-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $169.00
price for USA
  • ISBN 978-3-7908-2565-7
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
European Financial Markets
Book Subtitle
The Effects of European Union Membership on Central and Eastern European Equity Markets
Authors
Series Title
Contributions to Economics
Copyright
2008
Publisher
Physica-Verlag Heidelberg
Copyright Holder
Physica-Verlag Heidelberg
eBook ISBN
978-3-7908-2074-4
DOI
10.1007/978-3-7908-2074-4
Hardcover ISBN
978-3-7908-2073-7
Softcover ISBN
978-3-7908-2565-7
Series ISSN
1431-1933
Edition Number
1
Number of Pages
XVIII, 190
Number of Illustrations and Tables
39 b/w illustrations
Topics