• myGriffith
    • Staff portal
    • Contact Us⌄
      • Future student enquiries 1800 677 728
      • Current student enquiries 1800 154 055
      • International enquiries +61 7 3735 6425
      • General enquiries 07 3735 7111
      • Online enquiries
      • Staff phonebook
    View Item 
    •   Home
    • Griffith Research Online
    • Journal articles
    • View Item
    • Home
    • Griffith Research Online
    • Journal articles
    • View Item
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Browse

  • All of Griffith Research Online
    • Communities & Collections
    • Authors
    • By Issue Date
    • Titles
  • This Collection
    • Authors
    • By Issue Date
    • Titles
  • Statistics

  • Most Popular Items
  • Statistics by Country
  • Most Popular Authors
  • Support

  • Contact us
  • FAQs
  • Admin login

  • Login
  • How pervasive is the effect of culture on stock market linkages? Evidence across regions and economic cycles

    Thumbnail
    View/Open
    SinghPUB2136.pdf (1.158Mb)
    File version
    Accepted Manuscript (AM)
    Author(s)
    Singh, Vikkram
    Li, Bin
    Roca, Eduardo
    Griffith University Author(s)
    Roca, Eduardo D.
    Li, Bin
    Singh, Vikkram
    Year published
    2017
    Metadata
    Show full item record
    Abstract
    We conduct a comprehensive study on the effect of culture on stock market linkages. With data on 25 national stock markets, a quantile regression model is used to estimate the determinants of market linkages using culture variable/s such as language, religion and Hofstede’s cultural dimensions while controlling for distance, economic and legal variables. Further, we test whether these effects hold across regions and if changes are detected during periods of market crisis. We also test if market liquidity, an indicator of market efficiency, diminishes the impact of culture on market linkages. The main conclusion is that culture ...
    View more >
    We conduct a comprehensive study on the effect of culture on stock market linkages. With data on 25 national stock markets, a quantile regression model is used to estimate the determinants of market linkages using culture variable/s such as language, religion and Hofstede’s cultural dimensions while controlling for distance, economic and legal variables. Further, we test whether these effects hold across regions and if changes are detected during periods of market crisis. We also test if market liquidity, an indicator of market efficiency, diminishes the impact of culture on market linkages. The main conclusion is that culture preferences shape investor choices, which affects integration between stock markets. The equity markets with similar cultural traits tend to increase market linkages; however, we observe differences across regions. Furthermore, liquidity and economic uncertainty fail to have an impact on the significance of culture variable/s as determinants of market linkages.
    View less >
    Journal Title
    Applied Economics
    Volume
    49
    Issue
    42
    DOI
    https://doi.org/10.1080/00036846.2017.1279268
    Copyright Statement
    © 2017 Taylor & Francis (Routledge). This is an Accepted Manuscript of an article published by Taylor & Francis in Applied Economics on 23 Jan 2017, available online: http://www.tandfonline.com/10.1080/00036846.2017.1279268
    Subject
    Applied economics
    Applied economics not elsewhere classified
    Econometrics
    Publication URI
    http://hdl.handle.net/10072/344148
    Collection
    • Journal articles

    Footer

    Disclaimer

    • Privacy policy
    • Copyright matters
    • CRICOS Provider - 00233E

    Tagline

    • Gold Coast
    • Logan
    • Brisbane - Queensland, Australia
    First Peoples of Australia
    • Aboriginal
    • Torres Strait Islander