Download or read book developing country capital structures and emerging stock markets written by Aslı Demirgüç-Kunt and published by World Bank Publications. This book was released on 1992 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are debt and equity finance complements or substitutes? Probably complements, which means that the existence of active stock markets should increase the volume of business for financial intermediaries.
Download or read book Capital Structures in Developing Countries written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1994 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Variables that predict capital structure in the United States also predict choices of capital structure in a sample of ten developing countries. In several countries, total indebtedness is negatively related to net fixed assets, suggesting that markets for long- term debt do not function effectively.
Download or read book Stock Markets in Developing Countries written by Mansoor Dailami and published by World Bank Publications. This book was released on 1990 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: With foreign capital funds dwindling, governments in many developing countries-- with increased Bank support-- are looking to develop capital markets to provide risk capital for the corporate sector. But first, some basic issues must be empirically explored.
Download or read book Stock Market Development and Financial Intermediary Growth written by Aslı Demirgüç-Kunt and published by World Bank Publications. This book was released on 1993 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between the development of stock markets and the functioning of financial intermediaries may be complementary.
Download or read book The World s Emerging Stock Markets written by Keith K. H. Park and published by Irwin Professional Publishing. This book was released on 1993 with total page 686 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Korea, Thailand, Mexico, Chile and a host of other nations, stock markets previously shunned as illiquid, or simply too exotic, are evolving at a terrific rate, and drawing in ever more participants. Consider these facts:. The emerging markets' share of world market capitalization will grow from approximately 7 percent to 15-20 percent - a pace more than twice that of the industrialized nations.
Download or read book The Politics of Equity Finance in Emerging Markets written by Kathryn C. Lavelle and published by Oxford University Press. This book was released on 2004-10-14 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging market stock issuance relative to GDP rose in the late twentieth century to levels that roughly matched that of advanced, industrial markets. Nonetheless, the connection between owning shares of emerging market stock and the ability to influence the management of these firms remains fundamentally different from the analogous institutional connection that has evolved in industrial markets. The reasons for the differences in emerging markets are both historical and political in nature. That is, local equity markets have had the objective of providing for some degree of local ownership and control of large economic entities since the late nineteenth century. However, local markets have operated under different global political structures since that time, ranging from imperialism, to world wars, to sovereign developmental states, to neo-liberal states. Shares issued under these different structures have been reconfigured over time, resulting in a lack of convergence along either the Anglo-American or Continental models of corporate governance. The author uses a political science paradigm to explain the growth of emerging equity markets. She departs from conventional economic explanations and examines politics at the micro-level of large issues of emerging market stock. The second half of the book presents case studies dealing with emerging market countries in Latin America, Asia, Russia and Eastern Europe, Africa and the Middle East. The case studies connect the regional, state, and firm levels to detail the multiple ownership and control arrangements, and to dispel the notion that mere quantitative growth of these markets will lead to a convergence in financial institutional structures along the lines of the industrial core of the world economy.
Download or read book The Future of Domestic Capital Markets in Developing Countries written by Robert E. Litan and published by Rowman & Littlefield. This book was released on 2003-09-05 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Future of Domestic Capital Markets in Developing Countries addresses the challenges that countries face as they develop and strengthen capital markets. Based on input from the world's most prominent capital market experts and leading policymakers in developing countries, this volume represents the latest thinking in capital market development. It captures the views of a global gathering of experts, with perspectives from developing and developed countries, from all regions of the world, from the public and private sector. This volume should be of interest to senior financial sector policymakers from developed and developing countries in securities and exchange commissions, regulators, central banks, ministries of finance, and monetary authorities; private sector executives in stock exchanges, bond markets, venture capital markets, and investment funds; and researchers and academicians with an interest in capital market development in emerging markets. What are the key factors threatening the development and survival of stock exchanges in developing countries? What domestic strategies are needed to protect the future of local markets? Should exchanges consider linkages or alliances? Merging with, or buying up, other exchanges? Demutualization? The volume provides practical guidance on strategies such as nurturing issuers, improving rules and institutions, addressing regulatory challenges, and sequencing reforms. The contributors address a variety of country experiences, and suggest steps that policymakers and practitioners in emerging markets can take to promote an orderly transition toward efficient, well-regulated, and accessible capital markets. Contributors include Reena Aggarwal (Georgetown University), Alexander S. Berg (World Bank), Alan Cameron (Sydney Futures Exchange), Olivier Fremond (PSACG), Amar Gill (Credit Lyonnais Securities Asia), Gerd Hausler (IMF), Jack Glen (International Finance Corporation), Peter Blair Henry (Stanf
Download or read book Emerging Equity Markets written by Mr.Robert Alan Feldman and published by International Monetary Fund. This book was released on 1994-03-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the mid-1980s, there has been a very substantial increase in stock market activity in many developing countries. This paper first examines the main characteristics of the emerging stock markets, and illustrates the evolution of equity prices in these markets over the last decade. It then discusses the reasons for the markets’ growth and assesses the extent to which domestic policies, as well as external factors, have played a role. This is followed by a discussion of the likely benefits of these markets; the effects which any abrupt correction in stock prices could have for the economy; and the ways in which these markets can be made more efficient.
Download or read book Stock Market Development and Firm Financing Choices written by Aslı Demirgüç-Kunt and published by World Bank Publications. This book was released on 1995 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The World s Emerging Stock Markets written by Keith K. H. Park and published by . This book was released on 1994 with total page 650 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Institutions and the External Capital Structure of Countries written by Mr.Andre Faria and published by INTERNATIONAL MONETARY FUND. This book was released on 2004-12-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A widespread view holds that countries that finance themselves through foreign direct investment (FDI) and portfolio equity, rather than bonds and loans, are less prone to crises. But what determines countries' external capital structures? In a cross section of emerging markets and developing countries, we find that equity-like liabilities (FDI and, especially, portfolio equity) as a share of countries' total external liabilities (or as a share of GDP) are positively and significantly associated with indicators of educational attainment, natural resource abundance, and especially, institutional quality. These relationships are robust to attempts to control for possible endogeneity, suggesting that better institutional quality may help improve countries' capital structures. The results might also provide an explanation for the observed correlation between institutional quality and the frequency of crises.
Download or read book Financial Management from an Emerging Market Perspective written by Soner Gokten and published by BoD – Books on Demand. This book was released on 2018-01-17 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the main reasons to name this book as Financial Management from an Emerging Market Perspective is to show the main differences of financial theory and practice in emerging markets other than the developed ones. Our many years of learning, teaching, and consulting experience have taught us that the theory of finance differs in developed and emerging markets. It is a well-known fact that emerging markets do not always share the same financial management problems with the developed ones. This book intends to show these differences, which could be traced to several characteristics unique to emerging markets, and these unique characteristics could generate a different view of finance theory in a different manner. As a consequence, different financial decisions, arrangements, institutions, and practices may evolve in emerging markets over time. The purpose of this book is to provide practitioners and academicians with a working knowledge of the different financial management applications and their use in an emerging market setting. Six main topics regarding the financial management applications in emerging markets are covered, and the context of these topics are "Capital Structure," "Market Efficiency and Market Models," "Merger and Acquisitions and Corporate Governance," "Working Capital Management," "Financial Economics and Digital Currency," and "Real Estate and Health Finance."
Download or read book The Effect of Equity Barriers on Foreign Investment in Developing Countries written by Stijn Claessens and published by World Bank Publications. This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Legal and other barriers limit foreign investors' access to emerging stock markets. Empirical evidence suggests that countries could lower the (risk- adjusted) cost of capital by removing formal barriers to such access.
Download or read book Emerging Market Capital Flows written by Richard M. Levich and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 464 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a little over one decade, the spread of market-oriented policies has turned the once so-called lesser developed countries into emerging markets. Many forces have been responsible for the tremendous growth in emerging markets. Trends toward market-oriented policies that permit private ownership of economic activities, such as public utilities and telecommunications, are part of the explanation. Corporate restructuring, following the debt crisis of the early 1980's has permitted many emerging market companies to gain international competitiveness. And an essential condition, a basic sea-change in economic policy, has opened up many emerging markets to international investors. This growth in emerging markets has been accompanied by volatility in individual markets, and a sector-wide shock after the meltdown in the Mexican Bolsa and Mexican peso, resulting in heated debate over the nature of these markets. Emerging market capital flows continue to be the subject of intense discussion around the world among investors, academics, and policymakers. Emerging Market Capital Flows examines the issues of emerging market capital flows from several distinct perspectives, addressing a number of related questions about emerging markets.
Download or read book Institutions and the External Capital Structure of Countries written by Andre Faria and published by . This book was released on 2006 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: A widespread view holds that countries that finance themselves through foreign direct investment (FDI) and portfolio equity, rather than bonds and loans, are less prone to crises. But what determines countries` external capital structures? In a cross section of emerging markets and developing countries, we find that equity-like liabilities (FDI and, especially, portfolio equity) as a share of countries` total external liabilities (or as a share of GDP) are positively and significantly associated with indicators of educational attainment, natural resource abundance, and especially, institutional quality. These relationships are robust to attempts to control for possible endogeneity, suggesting that better institutional quality may help improve countries` capital structures. The results might also provide an explanation for the observed correlation between institutional quality and the frequency of crises.
Download or read book Emerging Market Finance written by Bang Nam Jeon and published by Emerald Group Publishing. This book was released on 2020-09-28 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume of International Finance Review examines the rising challenges facing emerging financial markets and institutions. It provides significant insight and policy implications on topics including global banking, risk and contagion, stock market behaviour, financial inclusion in the major emerging economies, and more.
Download or read book Portfolio Investment Flows to Emerging Markets written by Sudarshan Gooptu and published by World Bank Publications. This book was released on 1993 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:
