01081nas a2200145   4500008004100000245005600041210005600097260000900153490000700162520061200169653001200781100001700793700002100810856010400831       2011                        eng d00aEmerging market crises and US equity market returns0 aEmerging market crises and US equity market returns  c20110 v223 aWe find contagion effects are present in US small size portfolios during emerging market crises due to risk and liquidity concerns. Investors display flight from risk during emerging market crises, and as a result, safer larger stocks exhibit positive abnormal returns. We find little evidence of contagion in aggregate excess US market returns, indicating studies that focus on national aggregates may miss important within market dynamics during emerging market crises. The international dynamics that we document have important implications for investors, even when they may have limited global exposure.10aFinance1 aBerger, Dave1 aTurtle, Harry, J  uhttps://stage.business.oregonstate.edu/biblio/emerging-market-crises-and-us-equity-market-returns-0