TY  - UNPD
A1  - Maurer, Raimond
A1  - Bugár, Gyöngyi
T1  - International equity portfolios and currency hedging : the viewpoint of German and Hungarian investors
T2  - Universität Frankfurt am Main. Fachbereich Wirtschaftswissenschaften: [Working paper series / Finance and accounting] Working paper series, Finance & Accounting ; No. 67
N2  - In this paper we study the benefits derived from international diversification of stock portfolios from German and Hungarian point of view. In contrast to the German capital market, which is one of the largest in the world, the Hungarian Stock Exchange is an emerging market. The Hungarian stock market is highly volatile, high returns are often accompanied by extremely large risk. Therefore, there is a good potential for Hungarian investors to realize substantial benefits in terms of risk reduction by creating multi-currency portfolios. The paper gives evidence on the above me ntioned benefits for both countries by examining the performance of several ex ante portfolio strategies. In order to control the currency risk, different types of hedging approaches are implemented.
T3  - Working paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting - 067 
KW  - International Portfolio Diversification
KW  - Estimation Risk
KW  - Hedging the Currency Risk
KW  - Emerging Stock Markets
KW  - Deutschland
KW  - Aktiendepot
KW  - Wertpapiermarkt
KW  - Aktienmarkt
KW  - Ungarn
Y1  - 2001
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/3659
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30-18249
PB  - Univ., Fachbereich Wirtschaftswiss.
CY  - Frankfurt am Main
ER  -