Global Portfolio Diversification

R. Aggarwal and D.C. Schirm, Issues in Global Portfolio Diversification: An Introduction. Part One: Managing Risk in International Portfolios: R.T. Baillie and T. Bollerslev, On the Interdependence of International Asset Markets. R.J. Sweeney, Foreign Exchange Risk in International Portfolios. F. Ibrahimi, L. Oxelheim, and C. Wihlborg, International Stock Markets and Fluctuations in Exchange Rates and Other Macroeconomic Variables. Comments and Discussion to Part One: Exchange Rates and Security Prices. Part Two: Hedging Portfolio Foreign Exchange Risk: M. Adler and B. Prasad, On Universal Currency Hedges. W. Bailey, E. Ng, and R.M. Stulz, Optimal Hedging of Stock Portfolios Against Foreign Exchange Risk: The Case of Nikkei. T. Schneeweis and H. Geman, The Effectiveness of the French CAC 40 Futures Contract in Risk-Return Management. Comments and Discussion to Part Two: Issues in Hedging Foreign Exchange Risk. Part Three: Market Microstructure and Anomalies: J.-C. Duan, V. Errunza, and A.F. Moreau, International Market Microstructure and the Pricing of ADRs. T. Hiraki and H. Takehara, International Diversification When Small Firm Stocks are Treated as Separate Investment Assets: An Application of the Multiperiod Model. A. Agrawal and K. Tandon, Stock Market Anomalies: The International Evidence. Comments and Discussion to Part Three: Microstructure Issues in Global Diversification. Part Four: Implementing Global Portfolio Diversification: R. Aggarwal, Investing in Emerging Markets: Challenges and Opportunities. H.R. Haworth, Regulatory Aspects of International Portfolio Diversification. P.J. Sieglebaum, The World Bank's Global Bond: Efficiency in Global Portfolio Diversification. S.W. Broka, Changing with the Times: International Initiatives at the NASD. Summary Comments and Concluding Discussion: Important Issues and Future Directions. Author Index. Subject Index.