Role of emerging markets vis-à-vis frontier markets in improving portfolio diversification benefits
Role of emerging markets vis-à-vis frontier markets in improving portfolio diversification benefits
复制标题
新兴市场相对于前沿市场在提高投资组合多元化效益方面的作用
DOI：
10.1016/j.iref.2021.11.012
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发表时间：
2021
影响因子：
4.5
通讯作者：
J. Paul
中科院分区：
文献类型：
--
作者：
N. Thomas;Smita Kashiramka;Surendra S. Yadav;J. Paul
该研究考察了前沿市场相对于-à-vis新兴市场在提高国际投资组合多元化效益方面所提供的附加值。该分析是针对亚太地区和欧洲进行的。它还调查了国际投资者，以证实实证研究结果。结果表明，尽管前沿市场比新兴市场提供了更高的分散投资机会，但对于风险偏好良好的投资者来说，建议投资前沿市场。亚太新兴市场在改善投资组合表现方面优于前沿市场。欧洲前沿市场的表现受到新冠肺炎疫情的不利影响。总体而言，与欧洲股市相比，亚太股市提供了更大的多元化潜力。
The study examines the value addition provided by frontier markets vis-à-vis emerging markets in improving the diversification benefits of an international portfolio. The analysis is performed for Asia-Pacific and Europe. It also surveys international investors to corroborate the empirical findings. The results indicate that though frontier markets offer higher diversification opportunities than emerging markets, the frontier market investments are recommended for investors with good risk appetite. Asia-Pacific emerging markets perform better than frontier markets in improving the portfolio's performance. European frontier markets' performance was adversely affected by Covid 19 pandemic. Overall, Asia-Pacific equity markets provide greater potential for diversification than their European counterparts.