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Economic freedom, equity performance and market volatility

Economic freedom, equity performance and market volatility Purpose – The purpose of this paper is to investigate the relationships between the Index of Economic Freedom , equity market performance and its volatility. Design/methodology/approach – The paper examines whether the level of economic freedom is significant for a country's stock market performance and volatiling. Findings – Regression results show that adjusted stock returns bear little relationship with economic freedom. On the other hand, economic freedom is associated with lower stock market volatility. Originality/value – The results imply that a country with greater economic freedom provides investors with better mean‐variance investment efficiency. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Accounting and Information Management Emerald Publishing

Economic freedom, equity performance and market volatility

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References (7)

Publisher
Emerald Publishing
Copyright
Copyright © 2009 Emerald Group Publishing Limited. All rights reserved.
ISSN
1834-7649
DOI
10.1108/18347640911001221
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to investigate the relationships between the Index of Economic Freedom , equity market performance and its volatility. Design/methodology/approach – The paper examines whether the level of economic freedom is significant for a country's stock market performance and volatiling. Findings – Regression results show that adjusted stock returns bear little relationship with economic freedom. On the other hand, economic freedom is associated with lower stock market volatility. Originality/value – The results imply that a country with greater economic freedom provides investors with better mean‐variance investment efficiency.

Journal

International Journal of Accounting and Information ManagementEmerald Publishing

Published: Oct 23, 2009

Keywords: Economics; Freedom; Stock returns; Stock markets

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