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[{"key": "dc.contributor.advisor", "value": "Lehkonen, Heikki", "language": "", "element": "contributor", "qualifier": "advisor", "schema": "dc"}, {"key": "dc.contributor.author", "value": "Mikkonen, Teemu", "language": null, "element": "contributor", "qualifier": "author", "schema": "dc"}, {"key": "dc.date.accessioned", "value": "2017-01-18T14:45:29Z", "language": "", "element": "date", "qualifier": "accessioned", "schema": "dc"}, {"key": "dc.date.available", "value": "2017-01-18T14:45:29Z", "language": "", "element": "date", "qualifier": "available", "schema": "dc"}, {"key": "dc.date.issued", "value": "2017", "language": null, "element": "date", "qualifier": "issued", "schema": "dc"}, {"key": "dc.identifier.other", "value": "oai:jykdok.linneanet.fi:1659236", "language": null, "element": "identifier", "qualifier": "other", "schema": "dc"}, {"key": "dc.identifier.uri", "value": "https://jyx.jyu.fi/handle/123456789/52762", "language": "", "element": "identifier", "qualifier": "uri", "schema": "dc"}, {"key": "dc.description.abstract", "value": "T\u00e4m\u00e4 tutkimus tarkastelee USA:n ja valittujen Kaakkois-Aasian kehittyvien maiden markkinoita; Philippiinej\u00e4, Indonesiaa, Malesiaa ja Thaimaata. Tutkimus antaa tuloksia sek\u00e4 USA:n ett\u00e4 indonesialaisen sijoittajan n\u00e4k\u00f6kulmasta. Merkitt\u00e4v\u00e4 rooli tutkimuksessa on ajassa muuttuvan korrelaation havainnollistamisessa osakeindeksien v\u00e4lill\u00e4 k\u00e4ytt\u00e4en apuna Englen vuonna 2002 esittelem\u00e4\u00e4 DCC-GARCH mallia. Tutkimuksessa k\u00e4ytetty data on vuodesta 1988 vuoteen 2015 saakka. Tulokset paljastavat kuinka valittujen osakemarkkinoiden v\u00e4linen korrelaatio on muuttunut kolmen kriisin - Aasian kriisin, teknologiakuplan ja globaali talouskriisin - my\u00f6t\u00e4 ja onko muutos ollut pysyv\u00e4\u00e4 vai ei. Lis\u00e4ksi tutkimuksessa tutkitaan ajassa muuttuvien korrelaatioiden vaikutusta kansainv\u00e4lisiin hajautushy\u00f6tyihin k\u00e4ytt\u00e4en Markowitzin portfolion optimointi -viitekehyst\u00e4. Tutkimuksen tulokset osoittavat maiden v\u00e4listen korrelaatioiden vaihdelleen ajassa etenkin globaalin talouskriisin seurauksena, mutta korrelaatioiden muutokset eiv\u00e4t ole pysyvi\u00e4. Korrelaatioiden perusteella pitk\u00e4n aikav\u00e4lin hajautushy\u00f6dyt eiv\u00e4t n\u00e4yt\u00e4 v\u00e4hentyneen. Portfolion optimointiosion tulokset tukevat t\u00e4t\u00e4 p\u00e4\u00e4telm\u00e4\u00e4. Tulokset osoittavat my\u00f6s indonesialaisen sijoittajan kannalta alueellisen sijoitussalkun hajauttamisen olevan eritt\u00e4in hy\u00f6dyllist\u00e4.", "language": "fi", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.abstract", "value": "This paper investigates the correlations and the portfolio diversification benefits between the stock markets of the US and chosen Southeast Asian emerging markets; Philippines, Indonesia, Malaysia and Thailand. Moreover, this study provides results from both the US and the Indonesian investor\u2019s perspectives. The focus is on capturing the time-varying effect of correlation between stock indices by using a DCC-GARCH model first introduced by Engle in 2002. The used data goes from 1988 to the end of 2015. The results provide answers on whether or not the three financial crises, the Asian crisis, the Dot-com bubble and the Global financial crisis, have had an impact on the correlations between the indices of the chosen countries and whether the change has been persistent or not. The impact the time-varying correlations have on international diversification benefits are further studied in Markowitz\u2019s portfolio optimization framework. The findings of this study indicate that the correlations vary from time to time, and especially as the result of the Global financial crisis, but the changes in correlations are not found to be persistent. The correlation dynamics do not show clear evidence of reduced diversification benefits in the long run which is further supported by the findings from the portfolio optimization framework. For Indonesian investor, also the regional diversification benefits are found to be highly significant.", "language": "en", "element": "description", "qualifier": "abstract", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted using Plone Publishing form by Teemu Mikkonen (teermimi) on 2017-01-18 14:45:26.623754. Form: Pro gradu -lomake (https://kirjasto.jyu.fi/julkaisut/julkaisulomakkeet/pro-gradu-lomake). JyX data: [jyx_publishing-allowed (fi) =True]", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Submitted by jyx lomake-julkaisija (jyx-julkaisija.group@korppi.jyu.fi) on 2017-01-18T14:45:29Z\r\nNo. of bitstreams: 2\r\nURN:NBN:fi:jyu-201701181187.pdf: 1437338 bytes, checksum: 02bf90fd86149aec0f572760b509eea2 (MD5)\r\nlicense.html: 4863 bytes, checksum: 2048a1cea4672b2847c06eb3885501a4 (MD5)", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.description.provenance", "value": "Made available in DSpace on 2017-01-18T14:45:29Z (GMT). No. of bitstreams: 2\r\nURN:NBN:fi:jyu-201701181187.pdf: 1437338 bytes, checksum: 02bf90fd86149aec0f572760b509eea2 (MD5)\r\nlicense.html: 4863 bytes, checksum: 2048a1cea4672b2847c06eb3885501a4 (MD5)\r\n Previous issue date: 2017", "language": "en", "element": "description", "qualifier": "provenance", "schema": "dc"}, {"key": "dc.format.extent", "value": "1 verkkoaineisto (65 sivua)", "language": null, "element": "format", "qualifier": "extent", "schema": "dc"}, {"key": "dc.format.mimetype", "value": "application/pdf", "language": null, "element": "format", "qualifier": "mimetype", "schema": "dc"}, {"key": "dc.language.iso", "value": "eng", "language": null, "element": "language", "qualifier": "iso", "schema": "dc"}, {"key": "dc.rights", "value": "In Copyright", "language": "en", "element": "rights", "qualifier": null, "schema": "dc"}, {"key": "dc.subject.other", "value": "Emerging Markets", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "International diversification", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "Market correlation", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "Time-varying conditional correlation", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.subject.other", "value": "GARCH", "language": "", "element": "subject", "qualifier": "other", "schema": "dc"}, {"key": "dc.title", "value": "Time-varying conditional correlation : effect on international portfolio diversification in Southeast Asia", "language": null, "element": "title", "qualifier": null, "schema": "dc"}, {"key": "dc.title.alternative", "value": "Effect on international portfolio diversification in Southeast Asia", "language": null, "element": "title", "qualifier": "alternative", "schema": "dc"}, {"key": "dc.type", "value": "master thesis", "language": null, "element": "type", "qualifier": null, "schema": "dc"}, {"key": "dc.identifier.urn", "value": "URN:NBN:fi:jyu-201701181187", "language": null, "element": "identifier", "qualifier": "urn", "schema": "dc"}, {"key": "dc.type.ontasot", "value": "Pro gradu -tutkielma", "language": "fi", "element": "type", "qualifier": "ontasot", "schema": "dc"}, {"key": "dc.type.ontasot", "value": "Master\u2019s thesis", "language": "en", "element": "type", "qualifier": "ontasot", "schema": "dc"}, {"key": "dc.contributor.faculty", "value": "Jyv\u00e4skyl\u00e4 University School of Business and Economics", "language": "en", "element": "contributor", "qualifier": "faculty", "schema": "dc"}, {"key": "dc.contributor.faculty", "value": "Jyv\u00e4skyl\u00e4n yliopiston kauppakorkeakoulu", "language": "fi", "element": "contributor", "qualifier": "faculty", "schema": "dc"}, {"key": "dc.contributor.department", "value": "Taloustieteet", "language": "fi", "element": "contributor", "qualifier": "department", "schema": "dc"}, {"key": "dc.contributor.organization", "value": "University of Jyv\u00e4skyl\u00e4", "language": "en", "element": "contributor", "qualifier": "organization", "schema": "dc"}, {"key": "dc.contributor.organization", "value": "Jyv\u00e4skyl\u00e4n yliopisto", "language": "fi", "element": "contributor", "qualifier": "organization", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Kansantaloustiede", "language": "fi", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "dc.subject.discipline", "value": "Economics", "language": "en", "element": "subject", "qualifier": "discipline", "schema": "dc"}, {"key": "dc.date.updated", "value": "2017-01-18T14:45:30Z", "language": "", "element": "date", "qualifier": "updated", "schema": "dc"}, {"key": "yvv.contractresearch.funding", "value": "0", "language": "", "element": "contractresearch", "qualifier": "funding", "schema": "yvv"}, {"key": "dc.type.coar", "value": 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