Download or read book Ownership Structure Capital Structure and Investment in Emerging Markets written by Guillermo Babatz Torres and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

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 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 Ownership Structure as a Determinant of Capital Structure An Empirical Study of DAX Companeis written by Christian Funke and published by GRIN Verlag. This book was released on 2012-03-02 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diploma Thesis from the year 2004 in the subject Business economics - Business Management, Corporate Governance, grade: 1.1, European Business School - International University Schloß Reichartshausen Oestrich-Winkel, language: English, abstract: Empirische Diplomarbeit die mit einer multivariaten Regression untersucht, ob sich die beobachtete Variabilität der Kapitalstrukturen von Unternehmen durch unterschiedliche Eigentümerstrukturen erklären lässt.

Download or read book Financing Patterns Around the World written by Thorsten Beck and published by World Bank Publications. This book was released on 2002 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a firm-level survey database covering 48 countries, Beck, Demirgüç-Kunt, and Maksimovic investigate whether differences in financial and legal development affect the way firms finance their investments. The results indicate that external financing of investments is not a function of institutions, although the form of external finance is. The authors identify two explanations for this. First, legal and financial institutions affect different types of external finance in offsetting ways. Second, firm size is an important determinant of whether firms can have access to different types of external finance. Larger firms with financing needs are more likely to use external finance compared with small firms. The results also indicate that these firms are more likely to use external finance in more developed financial systems, particularly debt and equity finance. The authors also find evidence consistent with the pecking order theory in financially developed countries, particularly for large firms. This paper--a product of Finance, Development Research Group--is part of a larger effort in the group to understand firms' access to financial services.

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 Handbook of Financing Growth written by Kenneth H. Marks and published by John Wiley & Sons. This book was released on 2005-05-31 with total page 514 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth look at the strategies, capital structure, and fund raising techniques for emerging growth and middle-market companies. Here is a comprehensive and practical guide to understanding and applying the basics of corporate finance to emerging growth and middle-market companies. Using empirical data and actual company cases to illustrate capital structures and financing approaches, the book provides a detailed discussion of the many funding instruments, from traditional bank loans and asset-based financing to different types of private equity and other creative solutions; the types of funding sources and their expected rates of returns; and typical deal terms.

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 Capital Structure Specifics in Emerging European Economies written by Swen Beyer and published by GRIN Verlag. This book was released on 2010-06-28 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2010 in the subject Business economics - Investment and Finance, grade: 1,5, European School of Business Reutlingen, course: Lecture, language: English, abstract: Taking into consideration the assumptions behind classical capital structures on the one hand and the specific economic environment and the resulting behavior of firms in the emerging European economies on the other hand, it is clear that these extraordinary circumstances (different political and economic systems) influence the determination of the firms’ capital structures in these countries in a special way. The goal of this paper is to determine the driving factors for different capital structure choices in emerging European economies, compared to the one we can see for instance in Western European countries. As a result of the underlying research on this topic and also considering the fact that shareholders are slowly gaining influence in businesses in emerging European economies (like Slovenia), the financial principal behavior of these companies will probably remain different from those in mature market economies. One of the most interesting findings regarding the research topic is probably the fact that we can find a re-designed Pecking Order Theory in some Eastern and Central European (CEE) economies.

Download or read book Emerging Capital Markets written by J. Jay Choi and published by Praeger. This book was released on 1998-11-19 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a collection of articles on financial and investment issues in emerging capital markets. It offers coverage of major emerging countries as well as topics related to emerging market finance

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 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 Capital Structure and Corporate Financing Decisions written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2011-03-31 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive guide to making better capital structure and corporate financing decisions in today's dynamic business environment Given the dramatic changes that have recently occurred in the economy, the topic of capital structure and corporate financing decisions is critically important. The fact is that firms need to constantly revisit their portfolio of debt, equity, and hybrid securities to finance assets, operations, and future growth. Capital Structure and Corporate Financing Decisions provides an in-depth examination of critical capital structure topics, including discussions of basic capital structure components, key theories and practices, and practical application in an increasingly complex corporate world. Throughout, the book emphasizes how a sound capital structure simultaneously minimizes the firm's cost of capital and maximizes the value to shareholders. Offers a strategic focus that allows you to understand how financing decisions relates to a firm's overall corporate policy Consists of contributed chapters from both academics and experienced professionals, offering a variety of perspectives and a rich interplay of ideas Contains information from survey research describing actual financial practices of firms This valuable resource takes a practical approach to capital structure by discussing why various theories make sense and how firms use them to solve problems and create wealth. In the wake of the recent financial crisis, the insights found here are essential to excelling in today's volatile business environment.

Download or read book Capital Structure Decisions written by Yamini Agarwal and published by John Wiley & Sons. This book was released on 2013-03-29 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inside the risk management and corporate governance issues behind capital structure decisions Practical ways of determining capital structures have always been mysterious and riddled with risks and uncertainties. Dynamic paradigm shifts and the multi-dimensional operations of firms further complicate the situation. Financial leaders are under constant pressure to outdo their competitors, but how to do so is not always clear. Capital Structure Decisions offers an introduction to corporate finance, and provides valuable insights into the decision-making processes that face the CEOs and CFOs of organizations in dynamic multi-objective environments. Exploring the various models and techniques used to understand the capital structure of an organization, as well as the products and means available for financing these structures, the book covers how to develop a goal programming model to enable organization leaders to make better capital structure decisions. Incorporating international case studies to explain various financial models and to illustrate ways that capital structure choices determine their success, Capital Structure Decisions looks at existing models and the development of a new goal-programming model for capital structures that is capable of handling multiple objectives, with an emphasis throughout on mitigating risk. Helps financial leaders understand corporate finance and the decision-making processes involved in understanding and developing capital structure Includes case studies from around the world that explain key financial models Emphasizes ways to minimize risk when it comes to working with capital structures There are a number of criteria that financial leaders need to consider before making any major capital investment decision. Capital Structure Decisions analyzes the various risk management and corporate governance issues to be considered by any diligent CEO/CFO before approving a project.

Download or read book The Handbook of Financing Growth written by Kenneth H. Marks and published by John Wiley & Sons. This book was released on 2009-08-07 with total page 934 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Second Edition of The Handbook of Financing Growth has been designed to help leaders and advisors gain a solid understanding of the financing strategies, sources, and transactions that will allow them to excel in such an unpredictable environment. Written by an experienced group of practitioners who operate within this dynamic market and fully updated to reflect new market realities this reliable resource outlines the full spectrum of funding alternatives currently available to emerging growth and middle-market companies and presents the practical strategies and techniques you need to be aware of when considering the capitalization, growth, or sale of your, or your client's, company. New material found in this Second Edition includes detailed discussions of positioning a business for value creation before the transaction and how your financing strategy fits into the overall plan for growing and raising capital as well as creating an exit. Among various techniques, the authors address buyouts and recapitalizations as two alternatives to create shareholder liquidity and potentially finance future growth. A new chapter on M&A addresses the acquisition process and how to fund acquisitions and external growth initiatives, while additional case studies highlight bank financing alternatives and growth equity.

Download or read book Corporate Governance and Institutional Ownership written by Basil Al-Najjar and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is one of the first papers to investigate the relationship between ownership structure and corporate governance, namely the factors that determine institutional investors' investment decisions in emerging markets using Jordanian data. A panel data analysis is applied to the dataset which includes non-financial Jordanian firms. The results show that the Jordanian institutional investors conceder firms capital structure, profitability, business risk, asset structure, asset liquidity, growth rates, and firm size when they take their investment decisions. In addition, institutional investors in Jordan prefer to invest in services firms rather than manufacturing firms. Furthermore, the study cannot find any significant relationship between firms' dividend policy and institutional investors. Finally, this paper investigated the factors that affect the probability that institutional investors will control the firm.

Download or read book Capital Structure and Firm Performance written by Arvin Ghosh and published by Routledge. This book was released on 2017-07-05 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital structure theory is one of the most dynamic areas of finance and forms the basis for modern thinking on the capital structure of firms. Much controversy has resulted from comparisons of the theory of capital structure originally developed by Franco Modigliani and Merton Miller to real-world situations. Two competing theories have emerged over the years, the optimal capital structure theory and the pecking order theory.Arvin Ghosh begins with an overview of the controversies regarding capital structure theories, and then statistically tests both the optimal capital structure and pecking order theories. Using the binomial approach he analyzes the determinants of capital structure while discussing the role of market power in determining capital structure decisions. Ghosh probes the questions of new stock offerings and stockholders' returns, and analyzes capital structure and executive compensation. He then looks into debt financing ownership structure, and the controversal relationship between capital structure and firm profitability. Finally, he discusses the latest developments in the field of capital structure.A concise overview of a major issue in business economics and finance, this volume provides a fuller understanding of capital structure influence on the financial performance of firms, and will certainly stimulate further debate. While hundreds of scholarly articles have been written on the subject this is the first book to test competing theories against measurements of firms' performance and their underlying capital structure.