Bernard Yeung

Bernard Yeung is the Krasnoff Professor of International Business at New York University’s Stern School of Business. He was awarded a PhD from the University of Chicago in 1984. His research interests include international comparison of stock price behaviour, and the economics of multinational enterprises.

Papers Published in World Economics:

The Puzzle of the Harmonious Stock Prices

A peculiar pattern is evident across the stock markets of different countries. In emerging markets, such as Peru and China, all the stocks in the country tend to rise and fall together in the course of ordinary trading. But in developed countries, such as Denmark and Canada, stocks move independently. What seems to determine how independently a country’s stock prices move is not the size of its market, the diversification of its economy, the stability of its macroeconomic policy or factors relating to the behaviour of individual firms. Rather, stock prices move more independently in countries that are less corrupt.

Read Full Paper >