• 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>International Journal of Applied Mathematics & Statistics >Can Gold Be Used As a Hedge or Safe Haven for Equity and Exchange Rate?
【24h】

Can Gold Be Used As a Hedge or Safe Haven for Equity and Exchange Rate?

机译：黄金可以用作对冲股票或汇率的避风港吗？

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

In this paper we investigate the ability of gold as a hedge and safe haven for equity and exchange rates of these countries during extreme market movement for seven Asian countries which are China, India, Indonesia, Japan, Korea, Malaysia and Thailand. Hedge is defined as negative relationship between two assets during normal condition while safe haven is defined as negative relationship between two assets during extreme price movement. This study covered from 4th March 1994 until 28th February 2014 for gold, equity and exchange rates. The results from quantile regression models show that gold is not a hedge for equity but a safe haven for China, India and Malaysia daily's equity returns. For weekly's equity returns, gold only act as safe haven for Thailand. For the daily's exchange rates returns, gold act as a hedge for India, Japan and Malaysia exchange rates. Moreover gold act as a safe haven for Indonesia, Japan, Malaysia and Thailand in daily's exchange rates returns while for Japan and Malaysia in weekly's exchange rates return.
机译：在本文中，我们研究了七个亚洲国家（中国，印度，印度尼西亚，日本，韩国，马来西亚和泰国）在极端市场波动期间黄金作为这些国家的股票和汇率的避险和安全港的能力。对冲被定义为在正常情况下两个资产之间的负关系，而避风港被定义为在极端价格变动期间两个资产之间的负关系。该研究涵盖了从1994年3月4日至2014年2月28日的黄金，股票和汇率。分位数回归模型的结果表明，黄金不是股票的避险工具，而是中国，印度和马来西亚每日股票收益的避风港。对于每周的股本回报，黄金仅是泰国的避风港。对于每日的汇率回报，黄金可作为印度，日本和马来西亚汇率的避险工具。此外，在每日汇率回报中，黄金是印度尼西亚，日本，马来西亚和泰国的避风港，而在每周汇率回报中，日本和马来西亚是黄金的避风港。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号