Institutions, economic openness and stock return co-movements: An empirical investigation in emerging markets

•Institutions have positive impacts on stock return co-movement in emerging markets.•Economic openness combined with institutions reduces stock return co-movement.•Market with better institutions offer more opportunities for diversification.

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Bibliographic Details
Published in:Finance research letters 2019-03, Vol.28, p.137-147
Main Authors: Nguyen, Canh Phuc, Nguyen, Thai Vu Hong, Schinckus, Christophe
Format: Article
Language:English
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Summary:•Institutions have positive impacts on stock return co-movement in emerging markets.•Economic openness combined with institutions reduces stock return co-movement.•Market with better institutions offer more opportunities for diversification.
ISSN:1544-6123
1544-6131
DOI:10.1016/j.frl.2018.04.010