@article{birau_analysing_2021,
	title = {Analysing portfolio diversification opportunities in selected stock markets of {North} and {South} {America} and their impact on the textile sector: {An} empirical case study},
	volume = {72},
	issn = {12225347},
	shorttitle = {Analysing portfolio diversification opportunities in selected stock markets of {North} and {South} {America} and their impact on the textile sector},
	url = {http://www.revistaindustriatextila.ro/images/2021/4/07%20RAMONA%20BIRAU%20Industria%20Textila%204_2021.pdf},
	doi = {10.35530/IT.072.04.1808},
	abstract = {This empirical study investigates the financial integration linkages among the sample stock markets of Canada, Mexico,United States (for both New York Stock Exchange, i.e. NYSE and NASDAQ), Panama, Brazil, Chile, Peru, Venezuela,Jamaica, Trinidad, and Tobago during the period from January 2001 to April 2019. This research study also examinesthe impact of selected stock market dynamics on the textile sector. International portfolio diversification has been animportant subject of research in financial fraternity since the emergence of Modern Portfolio Theory in 1952. This studyexamines the portfolio diversification opportunities in the 11 stock markets of Americas.International diversificationamong stock market indices has proven to be fruitful in the past. Certain tests have been used to determine opportunitiesfor diversification are correlation test, pairwise co-integration test, multiple co-integration test and granger causality test.The   empirical   results   show   that   stock   market   indices   share   low   correlation   among   other   and   they   are   not   highlyco-integrated whereas results of Granger causality test exhibit an unidirectional relationship among few stock marketsin short run.},
	number = {04},
	urldate = {2021-09-08},
	journal = {Industria Textila},
	author = {Birau, Ramona and Spulbar, Cristi and Hamza, Ajmal and Abdullah, Ejaz and Minea, Elena Loredana and Zulfiqar, Ali Imran and Cercel, Mihai Ovidiu},
	month = sep,
	year = {2021},
	pages = {398--407},
}