Aurelius Aaron

Oct 9, 2024 | mdpi.com | Deddy P. Koesrindartoto |Shuqi Wang |Aurelius Aaron

“There are many perceptions of the role of foreign speculators in emerging equity markets—many of which are negative”. “One of the major conclusions of our work is that the capital market integration process reduces the cost of capital but perhaps by less than we expected”. 1. IntroductionIn the 1980s and 1990s, many developing countries liberalized their equity market (Bekaert and Harvey 2000; Bekaert et al. 2003).