Share prices in Saudi Arabia have increased fourfold since 2003, and its bourse now has the largest capitalisation of any emerging stockmarket.
In part, their woes can be explained by the long bull run, which has favoured large-capitalisation stocks at the expense of the smaller companies on which value managers tend to concentrate.Disenchantment with old-style fund managers has driven investors away from active managers and into passively managed funds that track a stockmarket index (and charge lower fees).
Work of a similar nature using the notion of Granger causality was done by Chordia, Sarkar and Subrahmanyam in 2005 [10], where it was determined the large market capitalisation firms liquidity causes smaller market capitalisation firm volatility.
This would help to extend the findings of [10], who determined that liquidity changes in large market capitalisation stocks causes changes in volatility for small market capitalisation stocks, by providing the relationship for individual stocks.
As a result, Berkeley, valued at £938m, now has the largest market capitalisation of any of the homebuilders.
And at least some of the blame ought to be placed on the strategy, used by both, to bet on stocks with large market capitalisations.
Overall growth in the market for telecoms services has mitigated the adverse effects of this lost business on the revenues and profits of the incumbents.The merged MCI-WorldCom comprises two companies born of telecom-industry deregulation and has the largest equity capitalisation in the industry.
By assets, Spanish banks are not especially large; by market capitalisation they are among Europe's biggest.
What's more, he reckons that his grouping, which has almost as large a market capitalisation as the Frankfurt-London duo, could be up and running more quickly.In this section New customs The nanny bubble Messing with money No end to the burden?
Valued at £1.5bn, it is the third largest company by capitalisation on the Aim market.
UniCredit, the largest by market capitalisation, ranks only 15th in Europe.
