تأثير الأزمات المالية على عائد و مخاطر المحفظة المالية الدولية : حالة مجموعة من بورصات الأسهم المتطورة و الناشئة 2007-2012

Abstract EN

International diversification is considered as one of the modern techniques used in the portfolio management, after the inability of local diversification to overcome the overall risk.

This study aims to test the impact of financial crisis of 2008 on return and the risk of international financial portfolio, for this we used a weekly data for the group of countries of the global stock exchanges index for developed and other emerging during the period between 2007 to 2012, so we convert all prices to dollar, to answer the problematic of the study we used statistical methods descriptive: mean and variance and co-variance using EVIEWS.

the results show that the international diversification achieve relative stability in returns and reduce the overall risk of the portfolio; disruption of the relationship between risk and return during the period of the crisis; for success of international diversification , the correlation between the returns must be zero or negative or even positive is weak.