期刊名称：International Journal of Development and Sustainability
印刷版ISSN：2186-8662
出版年度：2012
卷号：1
期号：1
页码：1-7
出版社：International Society for Development and Sustainability (ISDS)
摘要：It is important to have a portfolio in investment to diversify the investment to different kinds of instruments. Based on previous research, it is concluded that gold is a good portfolio diversifier, a hedge against stock and safe haven in extreme stock market condition. As an investment instrument, stock is exposed to macroeconomic risks and global stock market risks. In this research, we conduct a comparison between the stock investment and gold investment b y using the probit econometric model and data from 1997 to 2011. The final result obtained from the model shows that the gold investment is more advantageous than the stock investment.
