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Business Finance in Less Developed Capital Markets: Contributions in Economics and Economic History

Editat de Klaus P. Fischer, George J. Papaioannou
en Limba Engleză Hardback – 9 dec 1992 – vârsta până la 17 ani
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.
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Specificații

ISBN-13: 9780313279720
ISBN-10: 0313279721
Pagini: 416
Dimensiuni: 156 x 235 x 27 mm
Greutate: 0.76 kg
Ediția:New.
Editura: Bloomsbury Publishing
Colecția Praeger
Seria Contributions in Economics and Economic History

Locul publicării:New York, United States

Notă biografică

KLAUS P. FISCHER is an Adjunct Professor in the Faculty of Administration Sciences at Universite Laval.GEORGE J. PAPAIOANNOU is Associate Professor and Chairperson of the Department of Banking and Finance at Hofstra University.

Cuprins

IntroductionBusiness Finance in Less-Developed Capital Markets: An Emerging Field of Study by Klaus P. Fischer and George J. PapaioannouDevelopment of Capital MarketsVenture Capital: Is It Appropriate for Developing Countries? by Richard KitchenProblems of Orthodox Formal Capital Markets in Developing Countries, with Particular Reference to Nigeria by Ade T. OjoSecurities Market Development and Economic Growth by P. C. Kumar and George TsetsekosMutual Funds in Developing Capital Markets: A Critical Evaluation of Turkish Experience by Yaman Asikoglou, Sevil Kutay, and Ozer ErtunaDiscussants' Comments: Frank Tuzzolino, Asmo. P. Palasvirta, and Demir YenerRisk and Return in Securities MarketsChinese New Year, Common Stock Purchasing, and Cumulative Excess Returns: Is the Taiwanese Stock Market Informationally Inefficient? by C. F. Lee, Gili Yen, and Chingfu ChangReactions of the Taiwanese Stock Market to Trade Talks with the U.S. by Gili Yen and Philip ChangMutual Fund Performance in the Brazilian Stock Market: 1984-1985 by Antonio Zoratto Sanvicente and Everaldo Guedes FrancaMarket Efficiency (Weak-Form) Tests of the Malaysian Stock Exchange by Othman YongDiscussants' Comments: Hugh Haworth, Mahendra R. Gujarathi, Martin Lawrence, and G. Wenchi KaoAsset ManagementFinancial Management and Goal Programming in Imperfect Capital Markets by Edgar Ortiz and Graciela BuenoCapital Budgeting in Countries with Less-Developed Capital Markets: Financial and Ethical Issues by Marjorie T. StanleyThe Joint Venture Game in Poland by Aleksander SulejewiczDiscussants' Comments: Linda AllenCredit and Financing PolicyMacro Shocks and Industrial Portfolio Responses: An Econometric Model for LDCs by James Tybout and Taeho BarkOptimal Corporate Debt Financing and Real Investment Decisions under Controlled Banking Systems by Mansoor DailamiInterest Rate Reform and Private Investment Behavior in Developing Countries: Evidence from Peru by Uwe CorsepiusDiscussants' Comments: Ashok Vora, C. F. Lee, and Esmeralda LynTheory of the FirmEnterprise Governance and Growth: Notes on the Theory of the Firm in Less-Developed Capital Markets by Stavros B. ThomadakisFinancial Management in Public Enterprises in India by V. N. HukkuDiscussant's Comments: Lemma W. SenbetInternational Capital and Enterprise IncentivesFinancial Contracting between Non-OPEC Developing Countries and Multinationals for Oil Extraction by Daniel D. TzangInvestment Incentives and Renegotiation in International Lending by George C. AnayiotosExpectations of Devaluation, the Real Rate of Interest and the Private Sector in a Dual Currency Economy by Graciana del CastilloDiscussants' Comments: Jeffrey Weiss, Ishac Diwan, and Sarath AbeysekeraPanel Discussion: Research DirectionsResearch in Business Finance: A Mexican Perspective by Edgar OrtizResearch Directions: A Theoretical Framework by Lemma W. SenbetResearch Directions: International Investments by Vihang Errunza