Business finance in less developed capital markets:
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
Westport, Conn. u.a.
Greenwood
1992
|
| Ausgabe: | 1. publ. |
| Schriftenreihe: | Contributions in economics and economic history
134 |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XI, 391 S. graph. Darst. |
| ISBN: | 0313279721 |
Internformat
MARC
| LEADER | 00000nam a2200000 cb4500 | ||
|---|---|---|---|
| 001 | BV007269015 | ||
| 003 | DE-604 | ||
| 005 | 00000000000000.0 | ||
| 007 | t | ||
| 008 | 930511s1992 d||| |||| 10||| engod | ||
| 020 | |a 0313279721 |9 0-313-27972-1 | ||
| 035 | |a (OCoLC)25093257 | ||
| 035 | |a (DE-599)BVBBV007269015 | ||
| 040 | |a DE-604 |b ger |e rakddb | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-12 |a DE-473 |a DE-188 | ||
| 050 | 0 | |a HG5993 | |
| 082 | 0 | |a 332/.041/091724 |2 20 | |
| 084 | |a QK 620 |0 (DE-625)141668: |2 rvk | ||
| 245 | 1 | 0 | |a Business finance in less developed capital markets |c ed. by Klaus P. Fischer ... |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Westport, Conn. u.a. |b Greenwood |c 1992 | |
| 300 | |a XI, 391 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a Contributions in economics and economic history |v 134 | |
| 650 | 7 | |a Bedrijfsfinanciën |2 gtt | |
| 650 | 7 | |a Kapitaalmarkt |2 gtt | |
| 650 | 4 | |a Marché financier - Pays en voie de développement - Congrès | |
| 650 | 4 | |a Sociétés - Pays en voie de développement - Finances - Congrès | |
| 650 | 4 | |a Entwicklungsländer | |
| 650 | 4 | |a Capital market |z Developing countries |v Congresses | |
| 650 | 4 | |a Corporations |z Developing countries |x Finance |v Congresses | |
| 650 | 0 | 7 | |a Finanzierung |0 (DE-588)4017182-6 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Kapitalmarkt |0 (DE-588)4029578-3 |2 gnd |9 rswk-swf |
| 651 | 7 | |a Entwicklungsländer |0 (DE-588)4014954-7 |2 gnd |9 rswk-swf | |
| 655 | 7 | |0 (DE-588)1071861417 |a Konferenzschrift |y 1988 |z Hempstead NY |2 gnd-content | |
| 689 | 0 | 0 | |a Entwicklungsländer |0 (DE-588)4014954-7 |D g |
| 689 | 0 | 1 | |a Kapitalmarkt |0 (DE-588)4029578-3 |D s |
| 689 | 0 | 2 | |a Finanzierung |0 (DE-588)4017182-6 |D s |
| 689 | 0 | |5 DE-604 | |
| 700 | 1 | |a Fischer, Klaus P. |e Sonstige |4 oth | |
| 830 | 0 | |a Contributions in economics and economic history |v 134 |w (DE-604)BV000004162 |9 134 | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=004665267&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-004665267 | ||
Datensatz im Suchindex
| _version_ | 1804121491508297728 |
|---|---|
| adam_text | Contents
Illustrations ix
Introduction: Business Finance in Less Developed Capital Markets:
An Emerging Field of Study 1
Klaus P. Fischer and George J. Papaioannou
Part I. Development of Capital Markets
1. Venture Capital: Is It Appropriate for
Developing Countries? 15
Richard Kitchen
DISCUSSANT: Frank Tuzzolino 37
2. Problems of Orthodox Formal Capital Markets in Developing
Countries, with Particular Reference to Nigeria 39
Ade T. Ojo
3. Securities Market Development and Economic Growth 55
P. C. Kumar and George Tsetsekos
DISCUSSANT: Asmo P. Palasvirta 66
4. Mutual Funds in Developing Capital Markets:
A Critical Evaluation of the Turkish Experience 69
Yaman Asikoglu, SevilKutay, and I. OzerErtuna
DISCUSSANT: DemirYener 96
vi Contents
Part II. Risk and Return in Securities Markets
5. The Chinese New Year, Common Stock Purchasing, and
Cumulative Raw Returns: Is Taiwan s Stock Market
Informationally Efficient? 101
Cheng Few Lee, Gili Yen, and Chingfu Chang
DISCUSSANT: HughHaworth 106
6. Reactions of the Taiwanese Stock Market to Trade Talks
with the United S tates 111
Gili Yen and Philip Chang
DISCUSSANT: MahendraR.Gujarathi 111
7. Mutual Fund Performance in the Brazilian Stock Market,
1984 1985 125
Antonio Zoratto Sanvicente andEveraldo Guedes Franca
DISCUSSANT: Martin Laurence 134
8. Market Efficiency (Weak Form) Tests of the Malaysian
Stock Exchange 137
Othman Yong
DISCUSSANT: G.WenchiKao 168
Part III. Asset Management
9. Financial Management and Goal Programming in
Imperfect Capital Markets 173
Edgar Ortiz and Graciela Bueno
10. Capital Budgeting in Countries with Less Developed Capital
Markets: Financial and Ethical Issues 189
Marjorie T. Stanley
Part IV. Credit and Financing Policy
11. Macro Shocks and Industrial Portfolio Responses:
An Econometric Model for LDCs 211
James Tybout and Taeho Bark
DISCUSSANT: AshokVora 227
12. Optimal Corporate Debt Financing and Real Investment
Decisions under Controlled Banking Systems 229
Mansoor Dailami
DISCUSSANT: Cheng Few Lee 250
Contents vii
13. Financial Reform, Inflation, and Investment Behavior in
Developing Countries: Evidence from Peru 251
Uwe Corsepius
DISCUSSANT: Esmeralda O. Lyn 262
Part V. Theory of the Firm
14. Enterprise Governance and Growth: Notes on the Theory
of the Firm in Less Developed Capital Markets 267
StavrosB. Thomadakis
DISCUSSANT: Lemma W.Senbet 281
15. Financial Management in Public Enterprises in India 283
V. N. Hukku
Part VI. International Capital and Enterprise Incentives
16. Financial Contracting between Non OPEC Developing
Countries and Multinationals for Oil Extraction 295
Daniel D. Tzang
DISCUSSANT: Jeffrey Weiss 311
17. Investment Incentives and Renegotiation in
International Lending 315
George C. Anayiotos
DISCUSSANT: IshacDiwan 331
18. Expectations of Devaluation, the Real Rate of Interest,
and the Private Sector in a Dual Currency Economy 335
Graciana del Castillo
DISCUSSANT: Sarath Abeysekera 350
Part VII. Research Directions
19. Research in Business Finance: A Mexican Perspective 355
Edgar Ortiz
20. Research Directions: A Theoretical Framework 363
Lemma W. Senbet
21. Research Directions: International Investments 369
Vihang Errunza
Index 375
About the editors and contributors 389
Illustrations
FIGURES
1.1 The Lemon Gap 18
3.1 Securities Market Development and Economic Growth 61
4.1 Risk versus Return for Mutual Funds, Including YK 3 88
4.2 Risk versus Return for Mutual Funds, Excluding YK 3 88
4.3 Risk versus Return for Mutual Funds (Pre February 1988) 91
4.4 Risk versus Return for Mutual Funds (Post February 1988) 91
4.5 Risk versus Return for Mutual Funds (Post February 1988) 92
12.1 Phase Diagram of the System of Equations 237
12.2 Response to an Increase in the Supply of Bank Credit 237
12.3 Response to a Decrease in the Rate of Interest 238
12.4 Tobin s Average Q and Investment Incentive Space 244
13.1 The Utility of Household Firms in the Presence
of Inflation Risk 253
13.2 Consumption and Investment with Different Levels
of Inflation Risk 254
17.1 The Asymmetric Nash Bargaining Solution 318
17.2 The Supply of Loans and Credit Rationing 324
17.3 Lender s Expected Payoff and the Level
of Required Repayment 326
18.1 Real Interest Rates: United States versus Uruguay 343
18.2 Currency adjusted Spread 344
x Illustrations
TABLES
1.1 Venture Capital Pools 24
1.2 Incentives to VCFs in Certain Countries 25
2.1 Sources of Capital for Small Business in Nigeria 49
2.2 Relative Importance of Sources of Capital for
Small Business in Nigeria 50
4.1 Mutual Funds in Turkey 79
4.2 Portfolio Composition of Mutual Funds 82
4.3 Performance Ranking of Mutual Funds 84
4.4 Pre and Post February 1988 Performance Ranking
of Mutual Funds 90
5.1 Cumulative Raw Returns for the Period 1975 1984 103
6.1 Trade between Taiwan and the United States, 1966 1986 112
6.2 Major Taiwanese Export Items to the United States 113
7.1 Estimation Results for Equation (2), 1984 130
7.2 Estimation Results for Equation (2), 1985 131
7.3 Results for Equation (3): Changes from 1984 to 1985 132
8.1 Comparative Size of Selected Stock Markets 142
8.2 Number and Percentage of Stocks for
Each Stock Classification 148
8.3 Number and Percentage of Stocks within
Each Stock Classification 149
8.4 Number and Percentage of Stocks within
Each Stock Classification 150
8.5 Weekly Serial Correlation Coefficients 152
8.6 Summary Statistics of the Serial Correlation
Coefficients Distribution 154
8.7 Number and Percentage of Stocks within
Each Stock Classification 154
8.8 Results of Runs Tests for Thirty Selected
Malaysian Stocks 155
8.9 Distributional Nature of the Weekly Percentage
Price Changes 156
8.10 Results of the Spearman Rank Correlation Test 159
8.11 Results of the Spearman Rank Correlation Test 159
9.1 Key Financial Ratios for Pemex, 1975 1985 176
9.2 Pemex Goal Programming Decision Variables 180
9.3 Goal Programming Solutions, 1980 184
9.4 Goal Programming Solutions, 1981 185
11.1 The Model 212
11.2 Variable Definitions 217
11.3 Estimates of 0 and Q from Equations (2) and (3) 219
11.4 Estimates of MB and (1 M) from Equation (9) 220
Illustrations xi
12.1 Market Value of Equity, Book Value of Debt,
and Replacement Cost of Capital 240
12.2 Tobin s Average q Ratio and the Ratio of Debt
to Total Capital 242
12.3 Maximum Likelihood Estimates of the
Parameters of Equations 243
13.1 Private Investment, Inflation, and Interest Rates in Peru 255
13.2 The Relation between the Level of Inflation and
Uncertainty in Peru 257
13.3 The Impact of Inflation Uncertainty on Private Fixed
Investment in Peru 258
17.1 Optimal Investment and the Level of Debt Repayments 321
|
| any_adam_object | 1 |
| building | Verbundindex |
| bvnumber | BV007269015 |
| callnumber-first | H - Social Science |
| callnumber-label | HG5993 |
| callnumber-raw | HG5993 |
| callnumber-search | HG5993 |
| callnumber-sort | HG 45993 |
| callnumber-subject | HG - Finance |
| classification_rvk | QK 620 |
| ctrlnum | (OCoLC)25093257 (DE-599)BVBBV007269015 |
| dewey-full | 332/.041/091724 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332/.041/091724 |
| dewey-search | 332/.041/091724 |
| dewey-sort | 3332 241 591724 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02168nam a2200517 cb4500</leader><controlfield tag="001">BV007269015</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">00000000000000.0</controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">930511s1992 d||| |||| 10||| engod</controlfield><datafield tag="020" ind1=" " ind2=" "><subfield code="a">0313279721</subfield><subfield code="9">0-313-27972-1</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)25093257</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV007269015</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rakddb</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-12</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-188</subfield></datafield><datafield tag="050" ind1=" " ind2="0"><subfield code="a">HG5993</subfield></datafield><datafield tag="082" ind1="0" ind2=" "><subfield code="a">332/.041/091724</subfield><subfield code="2">20</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">QK 620</subfield><subfield code="0">(DE-625)141668:</subfield><subfield code="2">rvk</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Business finance in less developed capital markets</subfield><subfield code="c">ed. by Klaus P. Fischer ...</subfield></datafield><datafield tag="250" ind1=" " ind2=" "><subfield code="a">1. publ.</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Westport, Conn. u.a.</subfield><subfield code="b">Greenwood</subfield><subfield code="c">1992</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">XI, 391 S.</subfield><subfield code="b">graph. Darst.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="1" ind2=" "><subfield code="a">Contributions in economics and economic history</subfield><subfield code="v">134</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Bedrijfsfinanciën</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="650" ind1=" " ind2="7"><subfield code="a">Kapitaalmarkt</subfield><subfield code="2">gtt</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Marché financier - Pays en voie de développement - Congrès</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Sociétés - Pays en voie de développement - Finances - Congrès</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Entwicklungsländer</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Capital market</subfield><subfield code="z">Developing countries</subfield><subfield code="v">Congresses</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Corporations</subfield><subfield code="z">Developing countries</subfield><subfield code="x">Finance</subfield><subfield code="v">Congresses</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Finanzierung</subfield><subfield code="0">(DE-588)4017182-6</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="650" ind1="0" ind2="7"><subfield code="a">Kapitalmarkt</subfield><subfield code="0">(DE-588)4029578-3</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="651" ind1=" " ind2="7"><subfield code="a">Entwicklungsländer</subfield><subfield code="0">(DE-588)4014954-7</subfield><subfield code="2">gnd</subfield><subfield code="9">rswk-swf</subfield></datafield><datafield tag="655" ind1=" " ind2="7"><subfield code="0">(DE-588)1071861417</subfield><subfield code="a">Konferenzschrift</subfield><subfield code="y">1988</subfield><subfield code="z">Hempstead NY</subfield><subfield code="2">gnd-content</subfield></datafield><datafield tag="689" ind1="0" ind2="0"><subfield code="a">Entwicklungsländer</subfield><subfield code="0">(DE-588)4014954-7</subfield><subfield code="D">g</subfield></datafield><datafield tag="689" ind1="0" ind2="1"><subfield code="a">Kapitalmarkt</subfield><subfield code="0">(DE-588)4029578-3</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2="2"><subfield code="a">Finanzierung</subfield><subfield code="0">(DE-588)4017182-6</subfield><subfield code="D">s</subfield></datafield><datafield tag="689" ind1="0" ind2=" "><subfield code="5">DE-604</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Fischer, Klaus P.</subfield><subfield code="e">Sonstige</subfield><subfield code="4">oth</subfield></datafield><datafield tag="830" ind1=" " ind2="0"><subfield code="a">Contributions in economics and economic history</subfield><subfield code="v">134</subfield><subfield code="w">(DE-604)BV000004162</subfield><subfield code="9">134</subfield></datafield><datafield tag="856" ind1="4" ind2="2"><subfield code="m">HBZ Datenaustausch</subfield><subfield code="q">application/pdf</subfield><subfield code="u">http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=004665267&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA</subfield><subfield code="3">Inhaltsverzeichnis</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-004665267</subfield></datafield></record></collection> |
| genre | (DE-588)1071861417 Konferenzschrift 1988 Hempstead NY gnd-content |
| genre_facet | Konferenzschrift 1988 Hempstead NY |
| geographic | Entwicklungsländer (DE-588)4014954-7 gnd |
| geographic_facet | Entwicklungsländer |
| id | DE-604.BV007269015 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T16:58:50Z |
| institution | BVB |
| isbn | 0313279721 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-004665267 |
| oclc_num | 25093257 |
| open_access_boolean | |
| owner | DE-12 DE-473 DE-BY-UBG DE-188 |
| owner_facet | DE-12 DE-473 DE-BY-UBG DE-188 |
| physical | XI, 391 S. graph. Darst. |
| publishDate | 1992 |
| publishDateSearch | 1992 |
| publishDateSort | 1992 |
| publisher | Greenwood |
| record_format | marc |
| series | Contributions in economics and economic history |
| series2 | Contributions in economics and economic history |
| spelling | Business finance in less developed capital markets ed. by Klaus P. Fischer ... 1. publ. Westport, Conn. u.a. Greenwood 1992 XI, 391 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Contributions in economics and economic history 134 Bedrijfsfinanciën gtt Kapitaalmarkt gtt Marché financier - Pays en voie de développement - Congrès Sociétés - Pays en voie de développement - Finances - Congrès Entwicklungsländer Capital market Developing countries Congresses Corporations Developing countries Finance Congresses Finanzierung (DE-588)4017182-6 gnd rswk-swf Kapitalmarkt (DE-588)4029578-3 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf (DE-588)1071861417 Konferenzschrift 1988 Hempstead NY gnd-content Entwicklungsländer (DE-588)4014954-7 g Kapitalmarkt (DE-588)4029578-3 s Finanzierung (DE-588)4017182-6 s DE-604 Fischer, Klaus P. Sonstige oth Contributions in economics and economic history 134 (DE-604)BV000004162 134 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=004665267&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Business finance in less developed capital markets Contributions in economics and economic history Bedrijfsfinanciën gtt Kapitaalmarkt gtt Marché financier - Pays en voie de développement - Congrès Sociétés - Pays en voie de développement - Finances - Congrès Entwicklungsländer Capital market Developing countries Congresses Corporations Developing countries Finance Congresses Finanzierung (DE-588)4017182-6 gnd Kapitalmarkt (DE-588)4029578-3 gnd |
| subject_GND | (DE-588)4017182-6 (DE-588)4029578-3 (DE-588)4014954-7 (DE-588)1071861417 |
| title | Business finance in less developed capital markets |
| title_auth | Business finance in less developed capital markets |
| title_exact_search | Business finance in less developed capital markets |
| title_full | Business finance in less developed capital markets ed. by Klaus P. Fischer ... |
| title_fullStr | Business finance in less developed capital markets ed. by Klaus P. Fischer ... |
| title_full_unstemmed | Business finance in less developed capital markets ed. by Klaus P. Fischer ... |
| title_short | Business finance in less developed capital markets |
| title_sort | business finance in less developed capital markets |
| topic | Bedrijfsfinanciën gtt Kapitaalmarkt gtt Marché financier - Pays en voie de développement - Congrès Sociétés - Pays en voie de développement - Finances - Congrès Entwicklungsländer Capital market Developing countries Congresses Corporations Developing countries Finance Congresses Finanzierung (DE-588)4017182-6 gnd Kapitalmarkt (DE-588)4029578-3 gnd |
| topic_facet | Bedrijfsfinanciën Kapitaalmarkt Marché financier - Pays en voie de développement - Congrès Sociétés - Pays en voie de développement - Finances - Congrès Entwicklungsländer Capital market Developing countries Congresses Corporations Developing countries Finance Congresses Finanzierung Kapitalmarkt Konferenzschrift 1988 Hempstead NY |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=004665267&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| volume_link | (DE-604)BV000004162 |
| work_keys_str_mv | AT fischerklausp businessfinanceinlessdevelopedcapitalmarkets |