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Economic freedom, equity performance and market volatility

Author

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  • Carl R. Chen
  • Ying Sophie Huang

Abstract

Purpose - The purpose of this paper is to investigate the relationships between theIndex of Economic Freedom, equity market performance and its volatility. Design/methodology/approach - The paper examines whether the level of economic freedom is significant for a country's stock market performance and volatiling. Findings - Regression results show that adjusted stock returns bear little relationship with economic freedom. On the other hand, economic freedom is associated with lower stock market volatility. Originality/value - The results imply that a country with greater economic freedom provides investors with better mean‐variance investment efficiency.

Suggested Citation

  • Carl R. Chen & Ying Sophie Huang, 2009. "Economic freedom, equity performance and market volatility," International Journal of Accounting & Information Management, Emerald Group Publishing Limited, vol. 17(2), pages 189-197, October.
    • Handle: RePEc:eme:ijaimp:v:17:y:2009:i:2:p:189-197
    DOI: 10.1108/18347640911001221
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