Arzu Ozoguz

TL;DR: This paper used the degree of accessibility of foreign investors to emerging stock markets, or investibility, as a proxy for the extent of foreign investments, to assess whether investibility has a significant influence on the diffusion of global market information across stocks in emerging markets.

TL;DR: This article used the degree of accessibility of foreign investors to emerging stock markets, or investibility, as a proxy for the extent of foreign investments, to assess whether investibility has a significant influence on the diffusion of global market information across stocks in emerging markets.

TL;DR: This paper investigated the relationship between the level of uncertainty and asset valuations and found that a conditional model with investors' beliefs and an uncertainty risk factor is remarkably successful in explaining a large part of the cross-sectional variation in average portfolio returns.

TL;DR: In this article, the authors examine the high volume return premium across 41 different countries and find it to be a phenomenon found in both developed and emerging markets and find the magnitude of the premium is generally associated with country and firm characteristics hypothesized to affect returns subsequent to a change in a stock's visibility.

TL;DR: The authors found that firms in industry clusters have market prices that are more efficient than firms outside industry clusters and argued that this is the case because geography allows for information spillovers, reducing the marginal cost to information producers like analysts and fund managers.