Abstract
Studies on dependence between stock markets are important because of their implications on the process of decision-making in investment. Many previous studies measure the dependence between markets using static copula. However, in recent years, time-varying copula has been used as an alternative for measuring dependence due to its capability of capturing time-varying dependence between markets. This study uses both static and time-varying copulas to measure the dependence structure between Malaysia and major stock markets (US, UK and Japan) based on the sample data from year 2007 Q1 until year 2017 Q3. The results reveal that the best model for all pairs of indices is the time-varying SJC copula, which also reveals that the Malaysia-US pair has the weakest dependence structure compared to other pairs. In terms of lower and upper tails, the Malaysia-UK and the Malaysia-Japan pairs have the strongest dependence structure respectively. Evidence from this research suggests that diversifications involving Malaysia and US stock markets are not effective.
Highlights
IntroductionStudent academic performance is important either to student itself or to a country development
Student academic performance is important either to student itself or to a country development. This is because one of the component for a high ranking university is based on its excellent record of academic performances
The dataset used for this study was taken from Universiti Utara Malaysia (UUM)
Summary
Student academic performance is important either to student itself or to a country development. This is because one of the component for a high ranking university is based on its excellent record of academic performances. Students who get a better result in higher learning institution are more likely to be employed and have high salaries. Based on the previous literature, there are a lot of definitions on student’s performance. Mat et al (2013) stated that student’s performance can be obtained by measuring the learning assessment and co-curriculum. Most of the studies mentioned about graduation being the measure of student’s success
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