Nonlinear Adjustment of Emerging Stock Market Returns: Symmetrical or Asymmetrical
This study examines whether the nonlinear adjustment dynamic of stock returns to the equilibrium level in an emerging stock market is symmetrical or asymmetrical. The empirical results suggest that the data generating process of Iran stock returns series is nonlinear Smooth Transition Autoregressive...
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| Format: | Article |
| Language: | English |
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EconJournals
2012-01-01
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| Series: | International Journal of Economics and Financial Issues |
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| Online Access: | http://www.econjournals.com/index.php/ijefi/article/view/140/pdf |