Skip to content Skip to navigation
University of Warwick
  • Study
  • |
  • Research
  • |
  • Business
  • |
  • Alumni
  • |
  • News
  • |
  • About

University of Warwick
Publications service & WRAP

Highlight your research

  • WRAP
    • Home
    • Search WRAP
    • Browse by Warwick Author
    • Browse WRAP by Year
    • Browse WRAP by Subject
    • Browse WRAP by Department
    • Browse WRAP by Funder
    • Browse Theses by Department
  • Publications Service
    • Home
    • Search Publications Service
    • Browse by Warwick Author
    • Browse Publications service by Year
    • Browse Publications service by Subject
    • Browse Publications service by Department
    • Browse Publications service by Funder
  • Help & Advice
University of Warwick

The Library

  • Login
  • Admin

No place to hide : the global crisis in equity markets in 2008/2009

Tools
- Tools
+ Tools

Bartram, Söhnke M. and Bodnar, Gordon M. (2009) No place to hide : the global crisis in equity markets in 2008/2009. Journal of International Money and Finance, Vol.28 (No.8). pp. 1246-1292. doi:10.1016/j.jimonfin.2009.08.005

Research output not available from this repository, contact author.
Official URL: http://dx.doi.org/10.1016/j.jimonfin.2009.08.005

Request Changes to record.

Abstract

This paper provides a broad analysis of the effect of the current financial crisis on global equity markets and their major components. We also examine the magnitude of the crisis in terms of value destruction in comparison to other market crashes. In brief, upon looking at return performance across an array of regions, countries, and sectors, broad market averages are down approximately 40% on their end of 2006 levels. While deterioration started in most markets in early to mid 2008, the crisis period of mid-September to the end of October 2008 is responsible for the lion's share of the collapse with just about all indices falling 30–40% in this short period. Financial sectors have taken a bigger hit than non-financials over the period, though they both suffered similarly during the peak of the crisis. Due to larger rises in 2007 the emerging markets drop more in 2008 than developed markets but in large part end up at the same level as the other markets. The global nature of the crisis is also apparent from the high correlations between markets and investment styles that further increased during the crisis. As a result, diversification provided little help to investors when needed most as markets dropped in tandem.

Item Type: Journal Article
Subjects: H Social Sciences > HJ Public Finance
Divisions: Faculty of Social Sciences > Warwick Business School > Finance Group
Faculty of Social Sciences > Warwick Business School
Journal or Publication Title: Journal of International Money and Finance
Publisher: Elsevier BV
ISSN: 0261-5606
Official Date: December 2009
Dates:
DateEvent
December 2009Published
Volume: Vol.28
Number: No.8
Number of Pages: 47
Page Range: pp. 1246-1292
DOI: 10.1016/j.jimonfin.2009.08.005
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access

Request changes or add full text files to a record

Repository staff actions (login required)

View Item View Item
twitter

Email us: wrap@warwick.ac.uk
Contact Details
About Us