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The integration of the global economy is a phenomena that is increasingly evident in our everyday lives. Ranging from rapid economic growth in developing nations to the flow of capital across continents, globalization is affecting almost all corners of modern society. This includes the higher education sector, in which recent years have seen unprecedented growth in Asia as the economy increasingly
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Purpose: This study aims to examine the price transmission among ADRs (American Depositary Receipts) and their underlying shares, US market index and Hong Kong market index. We will attempt to capture how a shock in the home market is transmitted to the foreign (and vice versa). In addition we will attempt to assess the relative weight of each variable in the system generating unexpected variation
