Resumen
AbstractThe effects of various market conditions of the New York Stock Exchange (NYSE) on non-USA markets are investigated in this article. On the basis of an empirical investigation, evidence is presented which suggests that the influence of the NYSE on non-USA markets differs during different market conditions of the NYSE. For example, it was found that during declining market conditions on the NYSE the influence was greater on non-USA markets than during rising market conditions on the NYSE. A model designed to yield detailed risk statistics of individual non-USA securities was also implemented to investigate the impact of various market conditions of the NYSE.