Pandej ChintrakarnPaweena PrasatkitjaroenMahidol University International College. Business Administration Division2015-08-032018-12-252015-08-032018-12-2520152010International Research Journal of Finance and Economics. Vol.60, (2010), 7-14.https://repository.li.mahidol.ac.th/handle/20.500.14594/40223The purpose of this paper is to examine the determinants of international stock market correlation by applying the gravity model where the roles of distance and overlapping opening hours are of key interest in this study. Based on the work of Flavin, Hurley, & Rousseau (2002), we utilize a dynamic gravity model, the findings herein confirm the importance of overlapping hour variable as the main determinant of international stock markets correlation.engMahidol UniversityEquity flowsCross-border portfolio investmentInformation asymmetriesGravity modelHome biasArticleEBSCOhost