Browsing by Author "Hamza, Ajmal"

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    Analysing portfolio diversification opportunities in selected stock markets of North and South America and their impact on the textile sector: An empirical case study
    (National Institute for Research and Development of Leather Textiles-Bucharest, 2021) Birău, Ramona; Spulbar, Cristi; Hamza, Ajmal; Abdullah, Ejaz; Minea, Elena; Zulfiqar, Ali Imran; Cercel, Mihai Ovidiu
    This empirical study investigates the financial integration linkages among the sample stock markets of Canada, Mexico, United States (for both New York Stock Exchange, i.e. NYSE and NASDAQ), Panama, Brazil, Chile, Peru, Venezuela, Jamaica, Trinidad, and Tobago during the period from January 2001 to April 2019. This research study also examines the impact of selected stock market dynamics on the textile sector. International portfolio diversification has been an important subject of research in financial fraternity since the emergence of Modern Portfolio Theory in 1952. This study examines the portfolio diversification opportunities in the 11 stock markets of Americas.International diversification among stock market indices has proven to be fruitful in the past. Certain tests have been used to determine opportunities for diversification are correlation test, pairwise co-integration test, multiple co-integration test and granger causality test. The empirical results show that stock market indices share low correlation among other and they are not highly co-integrated whereas results of Granger causality test exhibit an unidirectional relationship among few stock markets in short run.