Business Finance In Less Developed Capital Markets by Klaus P. Fischer | 9780313279720 | Hardcover | Barnes & Noble
Business Finance In Less Developed Capital Markets

Business Finance In Less Developed Capital Markets

by Klaus P. Fischer
     
 

ISBN-10: 0313279721

ISBN-13: 9780313279720

Pub. Date: 12/30/1992

Publisher: ABC-CLIO, Incorporated

Business finance in less developed economies cannot be analyzed or measured by the approaches utilized in countries, such as the United States and Great Britain, where stock markets can assess worth and channel capital with reasonable accuracy. Most economic theory dealing with business finance has been developed in precisely this latter environment. By bringing

Overview

Business finance in less developed economies cannot be analyzed or measured by the approaches utilized in countries, such as the United States and Great Britain, where stock markets can assess worth and channel capital with reasonable accuracy. Most economic theory dealing with business finance has been developed in precisely this latter environment. By bringing together economists from less developed countries with researchers from the United States and Western Europe, these essays break new ground by focusing on the unique problems of capital markets in the developing world.

The problems of organizing securities markets and such capital market institutions as mutual funds are examined. The sources of financial capital and the interaction of state credit policies and the investment decisions and practices of the private sector are also analyzed. Together these essays provide developmental and business economists with provocative questions and will be of concern to all involved with economic growth in the less developed world.

Product Details

ISBN-13:
9780313279720
Publisher:
ABC-CLIO, Incorporated
Publication date:
12/30/1992
Series:
Contributions in Economics and Economic History Series, #13
Pages:
404
Product dimensions:
6.00(w) x 9.00(h) x 1.06(d)
Lexile:
1490L (what's this?)

Table of Contents

Introduction

Business Finance in Less-Developed Capital Markets: An Emerging Field of Study by Klaus P. Fischer and George J. Papaioannou

Development of Capital Markets

Venture Capital: Is It Appropriate for Developing Countries? by Richard Kitchen

Problems of Orthodox Formal Capital Markets in Developing Countries, with Particular Reference to Nigeria by Ade T. Ojo

Securities Market Development and Economic Growth by P. C. Kumar and George Tsetsekos

Mutual Funds in Developing Capital Markets: A Critical Evaluation of Turkish Experience by Yaman Asikoglou, Sevil Kutay, and Ozer Ertuna

Discussants' Comments: Frank Tuzzolino, Asmo. P. Palasvirta, and Demir Yener

Risk and Return in Securities Markets

Chinese New Year, Common Stock Purchasing, and Cumulative Excess Returns: Is the Taiwanese Stock Market Informationally Inefficient? by C. F. Lee, Gili Yen, and Chingfu Chang

Reactions of the Taiwanese Stock Market to Trade Talks with the U.S. by Gili Yen and Philip Chang

Mutual Fund Performance in the Brazilian Stock Market: 1984-1985 by Antonio Zoratto Sanvicente and Everaldo Guedes Franca

Market Efficiency (Weak-Form) Tests of the Malaysian Stock Exchange by Othman Yong

Discussants' Comments: Hugh Haworth, Mahendra R. Gujarathi, Martin Lawrence, and G. Wenchi Kao

Asset Management

Financial Management and Goal Programming in Imperfect Capital Markets by Edgar Ortiz and Graciela Bueno

Capital Budgeting in Countries with Less-Developed Capital Markets: Financial and Ethical Issues by Marjorie T. Stanley

The Joint Venture Game in Poland by Aleksander Sulejewicz

Discussants' Comments: Linda Allen

Credit and Financing Policy

Macro Shocks and Industrial Portfolio Responses: An Econometric Model for LDCs by James Tybout and Taeho Bark

Optimal Corporate Debt Financing and Real Investment Decisions under Controlled Banking Systems by Mansoor Dailami

Interest Rate Reform and Private Investment Behavior in Developing Countries: Evidence from Peru by Uwe Corsepius

Discussants' Comments: Ashok Vora, C. F. Lee, and Esmeralda Lyn

Theory of the Firm

Enterprise Governance and Growth: Notes on the Theory of the Firm in Less-Developed Capital Markets by Stavros B. Thomadakis

Financial Management in Public Enterprises in India by V. N. Hukku

Discussant's Comments: Lemma W. Senbet

International Capital and Enterprise Incentives

Financial Contracting between Non-OPEC Developing Countries and Multinationals for Oil Extraction by Daniel D. Tzang

Investment Incentives and Renegotiation in International Lending by George C. Anayiotos

Expectations of Devaluation, the Real Rate of Interest and the Private Sector in a Dual Currency Economy by Graciana del Castillo

Discussants' Comments: Jeffrey Weiss, Ishac Diwan, and Sarath Abeysekera

Panel Discussion: Research Directions

Research in Business Finance: A Mexican Perspective by Edgar Ortiz

Research Directions: A Theoretical Framework by Lemma W. Senbet

Research Directions: International Investments by Vihang Errunza

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