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What Determines Equity Returns in Emerging Markets?

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  • Foye, James

Abstract

Although factor models provide the cornerstone of financial asset pricing, their application to emerging markets has been fragmented and frequently returns inconsistent results. This paper is the first to provide a thorough evaluation of these varied findings, thereby providing a framework to guide future researchers. This not only sheds new light on returns in emerging markets but also offers broader insights into the risk versus mispricing debate in all markets.

Suggested Citation

  • Foye, James, 2024. "What Determines Equity Returns in Emerging Markets?," CAFE Working Papers 29, Centre for Accountancy, Finance and Economics (CAFE), Birmingham City Business School, Birmingham City University.
    • Handle: RePEc:akf:cafewp:29
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    References listed on IDEAS

    as
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