@article{ejaz_impact_2020,
	title = {The impact of domestic portfolio diversification strategies in {Toronto} stock exchange on {Canadian} textile manufacturing industry},
	volume = {71},
	issn = {12225347},
	url = {http://revistaindustriatextila.ro/images/2020/3/004%20ABDULLAH%20EJAZ_Industria%20Textila%203_2020.pdf},
	doi = {10.35530/IT.071.03.1696},
	abstract = {The aim of this research study is to examine the impact of domestic portfolio diversification strategies in Toronto Stock
Exchange (TSX) on Canadian textile manufacturing industry in order to obtain attractive investment opportunities.
Dissipation of benefits of globally diversified portfolios due to overwhelming convergence among the international and
regional stock markets around the globe have given rebirth to the idea of domestic portfolio diversification particularly
after the global financial crisis of 2008. Textile industry in Canada is challenging but can achieve higher performance
based on Toronto Stock Exchange behavior. Therefore, this is a complex applied research focused on investigating TSX
as standalone stock market for domestic diversification opportunities. For this purpose, correlation coefficients, pairwise
cointegration, multiple cointegration and causality of sectors in TSX have been examined. The empirical results show
that majority of the sectors in TSX do not share high correlation with each other and they are also not highly
cointegrated. These empirical findings indicate that TSX presents attractive opportunities for domestic portfolio
diversification.},
	number = {03},
	urldate = {2020-07-02},
	journal = {Industria Textila},
	author = {Ejaz, Abdullah and Birau, Ramona and Spulbar, Cristi and Buda, Ramona and Tenea, Andrei Cosmin},
	month = jun,
	year = {2020},
	pages = {215--222}
}