We explore the link between international stock market comovement and the degree to which firms operate globally. Using stock returns and balance sheet data for

We explore the link between international stock market comovement and the degree to which firms operate globally. Using stock returns and balance sheet data for

The degree of comovement across national stock markets has increased dramatically since the mid-1990s. This has overturned a stylized fact in the international

This timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through for