Foreign direct investment Gross domestic product applications bic Book Industry Communication::K Economics, finance, business & management::KC Economics bic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCM Development economics & emerging economies china copulas diversification emerging market factor models finance market efficiency nonlinearity portfolio selection quantile realized volatility risk risk measures stochastic volatility sustainability utility utility maximization ANN ARDL Amihud’s illiquidity ratio Asia-Pacific Asian market Australia Autoregressive Model Azerbaijan (Iran)