International Evidence On Currency Adjusted Stock Indexes

Journal of Applied Business Research (JABR)

View Publication Info
 
 
Field Value
 
Title International Evidence On Currency Adjusted Stock Indexes
 
Creator Jalbert, Terrance
 
Subject Stock Indexes Currency
Wealth Changes
Dow Jones Industrial Average
 
Description Recent literature examines currency value adjusted indexes. The extant research examines U.S. stock indexes as adjusted for the value of the U.S. dollar and the value of gold. The literature examines only U.S. stock indexes. This paper extends the existing literature by examining currency adjusted stock indexes from eight countries. The analysis includes daily closing data from 1993-2016. The results show that currency adjusted indexes produce significantly different return distributions than original indexes. Further, currency value changes explain as much as 31 percent of total wealth changes, a result substantially higher than previously reported for U.S. currency adjusted indexes. The combined evidence indicates that currency value changes impact total wealth changes more for international indexes than for U.S. indexes.
 
 
Publisher Clute Institute
 
Date 2021-01-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
 
Format application/pdf
 
Identifier https://clutejournals.com/index.php/JABR/article/view/10368
 
Source Journal of Applied Business Research (JABR); Vol. 37 No. 1 (2021); 17-32
2157-8834
0892-7626
 
Language eng
 
Relation https://clutejournals.com/index.php/JABR/article/view/10368/10418
 

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