Affiliation:
1. The School of Business, University of Kansas, Lawrence, KS 66045, U.S.A.
Abstract
The importance of asymmetry in investment assessment is established and past research into the matter for Australian and U.S. equities is reviewed. Asymmetry, especially of the positive variety, is found to be a prevalent empirical phenomenon for Australian shares. Diversification is found to increase average asymmetry decreases with diversification. Evidence regarding the stationarity of cross-sectional asymmetry distributions is mixed.
Subject
General Business, Management and Accounting
Cited by
16 articles.
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