caa a22 4500 469053933 CHVBK 20180323132837.0 cr unu---uuuuu 170328e19921001xx s 000 0 eng 10.1007/BF01732898 doi (NATIONALLICENCE)springer-10.1007/BF01732898 Tang Gordon Department of Finance and Decision Sciences, Hong Kong Baptist College, Hong Kong aut Diversification and intervalling effects on stock returns [Elektronische Daten] [Gordon Tang] Diversification and intervalling effects on stock markets have been studied separately in the literature. This paper studies empirically the interaction of these two joint effects on five international stock markets. The diversification benefits may depend on the length of the holding interval because the covariance between two stock indexes may not change proportionally with the individual stock indexes' variances when the holding interval varies. The empirical results show that the degree of diversification benefit varies with the length of the holding interval. The greatest gain occurs with the shortest holding interval while the degree of risk reduction decreases with an increase in the holding interval in general. Faculty of Business Administration National University of Singapore, 1992 Asia Pacific Journal of Management Kluwer Academic Publishers 9/2(1992-10-01), 231-241 0217-4561 9:2<231 1992 9 10490 https://doi.org/10.1007/BF01732898 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/BF01732898 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Tang Gordon Department of Finance and Decision Sciences, Hong Kong Baptist College, Hong Kong aut NATIONALLICENCE 773 0- Asia Pacific Journal of Management Kluwer Academic Publishers 9/2(1992-10-01), 231-241 0217-4561 9:2<231 1992 9 10490 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer