Risk and foreign direct investment:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Basingstoke [u.a.]
Palgrave Macmillan
2006
|
| Ausgabe: | 1. publ. |
| Schlagworte: | |
| Online-Zugang: | Publisher description Table of contents only Inhaltsverzeichnis |
| Beschreibung: | Includes bibliographical references (p. 245-261) and index |
| Beschreibung: | XII, 265 S. Ill. 23 cm |
| ISBN: | 9781403945648 1403945640 |
Internformat
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| 245 | 1 | 0 | |a Risk and foreign direct investment |c by Colin White and Miao Fan |
| 250 | |a 1. publ. | ||
| 264 | 1 | |a Basingstoke [u.a.] |b Palgrave Macmillan |c 2006 | |
| 300 | |a XII, 265 S. |b Ill. |c 23 cm | ||
| 336 | |b txt |2 rdacontent | ||
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| 338 | |b nc |2 rdacarrier | ||
| 500 | |a Includes bibliographical references (p. 245-261) and index | ||
| 650 | 7 | |a Buitenlandse investeringen |2 gtt | |
| 650 | 7 | |a Risico's |2 gtt | |
| 650 | 4 | |a Investments, Foreign | |
| 650 | 4 | |a Country risk | |
| 650 | 4 | |a Risk | |
| 650 | 0 | 7 | |a Länderrisiko |0 (DE-588)4114347-4 |2 gnd |9 rswk-swf |
| 650 | 0 | 7 | |a Direktinvestition |0 (DE-588)4070496-8 |2 gnd |9 rswk-swf |
| 689 | 0 | 0 | |a Direktinvestition |0 (DE-588)4070496-8 |D s |
| 689 | 0 | 1 | |a Länderrisiko |0 (DE-588)4114347-4 |D s |
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Datensatz im Suchindex
| _version_ | 1804135589606326272 |
|---|---|
| adam_text | 1
Contents
List of Tables x
List of Figures xi
Preface xii
1 Introduction 1
Part I Risk and Home Country Bias 5
2 A Review of Theory Concerning Risk and the Foreign
Investment Decision 7
Different approaches to risk 8
The hard approach to risk 10
How is risk measured 13
Problems with the conventional approach 15
The peculiarities of foreign direct investment (FDI) 21
3 Risk and Risk generating Events 23
Integrating the treatment of risk 24
A definition of risk 26
Incidence, impact and response: the universality of risk 29
Types and levels of risk 31
The risk appetite 34
The risk/return trade off 39
4 Home Country Bias in Foreign Direct Investment 41
The nature of FDI 42
What is the problem? 45
The definition and measurement of home country bias 47
Home country bias and the immobility of capital 49
The causes of home country bias 56
Home country bias and country risk 58
Part II Different Perspectives on Investment Appraisal 61
5 The Investment Process and Decision Making: the Financial
Perspective 63
The possibility and cost of mistakes 64
vii
viii Contents
Investment appraisal 66
The inputs into the estimation of present value 67
Implications of the analysis 73
Incorporating uncertainty 75
The real options approach 81
6 The Investment Process and Decision Making: the Strategic
Perspective 84
Strategy and the nature of the enterprise 85
The full range of investment options 87
Strategic risk 90
Strategy and the individual investment project 92
Control of risk and an appropriate information strategy 96
Direct investment as the preferred mode of entry 101
7 The Investment Process and Decision Making:
the Organisational Perspective 104
A coalition of stakeholders 105
The structure of the enterprise 109
Value and risk distribution 114
Ownership and control 117
Capital structure and risk: creditors and owners 120
The decision making process 122
Part III The Different Types of Risk 125
8 The Context of Risk 127
The sources of generic risk 128
The nature of global risk 131
The perception of global risk 136
The incorporation of global risk 137
The nature and classification of industry risk 139
The components of industry risk 141
9 Country Risk 146
The nature of country risk 147
The sub components of country risk 151
The components of country risk 155
The conceptual framework of country risk 163
Assessment: weighting and the use of quantitative
proxies 163
The country risk exposure of international investment
projects 165
Contents ix
10 Enterprise and Project Risk 168
The nature of enterprise and project risk 169
A conceptual framework of enterprise risk 171
The conceptual framework of all risk 174
The risk filter 175
Different patterns of risk 177
How to quantify enterprise and project risk 183
Part IV Responses to Risk and the Determinants of FDI 187
11 Responses to Risk 189
The quantification of risk and valuation of an investment
project 190
How to incorporate risk into an investment valuation 191
Alternative approaches and a solution 196
The strategic context 203
The decision making process, stakeholders and risk 204
The adjusted present value approach 206
12 The Behaviour of FDI 209
Micro investment decisions and their macro consequences 210
The rating agencies 214
The level and fluctuations in FDI 221
The distribution of FDI 223
The role of risk 235
13 Conclusion 236
Appendix 1 240
Appendix 2 242
Notes 245
Bibliography 250
Index 262
List of Tables
5.1 Mapping an investment opportunity onto a call option 82
6.1 A classification of options 89
6.2 The different time perspectives 98
7.1 Stakeholders in an investment project 106
7.2 International stakeholder groups 107
9.1 Country risk sub components from previous research 152
9.2 Country risk sub components from rating agencies 154
11.1 The investment decision process 207
12.1 The risk responses 212
12.2 Methodologies of country ratings agencies 219
12.3 FDI flows as % of Gross Fixed Capital Formation 221
12.4 Levels of FDI 222
12.5 FDI flows as % of GFCF by level of development 223
12.6 Level of country risk and FDI inflows (3 groups) 226
12.7 Country risk and FDI inflows (5 groups) 229
12.8 FDI stocks among Triad members (US ) 234
X
List of Figures
3.1 The matrix of country and industry risk 33
5.1 The error matrix 64
6.1 Mapping an investment strategy 93
6.2 The mode of entry decision tree 102
8.1 A typology of global risk 135
8.2 A typology of industry risk 141
9.1 A typology of country risk 164
10.1 A typology of enterprise risk 172
10.2 A typology of investment risk 175
10.3 The filtering process 176
xi
|
| adam_txt |
1
Contents
List of Tables x
List of Figures xi
Preface xii
1 Introduction 1
Part I Risk and Home Country Bias 5
2 A Review of Theory Concerning Risk and the Foreign
Investment Decision 7
Different approaches to risk 8
The 'hard' approach to risk 10
How is risk measured 13
Problems with the conventional approach 15
The peculiarities of foreign direct investment (FDI) 21
3 Risk and Risk generating Events 23
Integrating the treatment of risk 24
A definition of risk 26
Incidence, impact and response: the universality of risk 29
Types and levels of risk 31
The risk appetite 34
The risk/return trade off 39
4 Home Country Bias in Foreign Direct Investment 41
The nature of FDI 42
What is the problem? 45
The definition and measurement of home country bias 47
Home country bias and the immobility of capital 49
The causes of home country bias 56
Home country bias and country risk 58
Part II Different Perspectives on Investment Appraisal 61
5 The Investment Process and Decision Making: the Financial
Perspective 63
The possibility and cost of mistakes 64
vii
viii Contents
Investment appraisal 66
The inputs into the estimation of present value 67
Implications of the analysis 73
Incorporating uncertainty 75
The real options approach 81
6 The Investment Process and Decision Making: the Strategic
Perspective 84
Strategy and the nature of the enterprise 85
The full range of investment options 87
Strategic risk 90
Strategy and the individual investment project 92
Control of risk and an appropriate information strategy 96
Direct investment as the preferred mode of entry 101
7 The Investment Process and Decision Making:
the Organisational Perspective 104
A coalition of stakeholders 105
The structure of the enterprise 109
Value and risk distribution 114
Ownership and control 117
Capital structure and risk: creditors and owners 120
The decision making process 122
Part III The Different Types of Risk 125
8 The Context of Risk 127
The sources of generic risk 128
The nature of global risk 131
The perception of global risk 136
The incorporation of global risk 137
The nature and classification of industry risk 139
The components of industry risk 141
9 Country Risk 146
The nature of country risk 147
The sub components of country risk 151
The components of country risk 155
The conceptual framework of country risk 163
Assessment: weighting and the use of quantitative
proxies 163
The country risk exposure of international investment
projects 165
Contents ix
10 Enterprise and Project Risk 168
The nature of enterprise and project risk 169
A conceptual framework of enterprise risk 171
The conceptual framework of all risk 174
The risk filter 175
Different patterns of risk 177
How to quantify enterprise and project risk 183
Part IV Responses to Risk and the Determinants of FDI 187
11 Responses to Risk 189
The quantification of risk and valuation of an investment
project 190
How to incorporate risk into an investment valuation 191
Alternative approaches and a solution 196
The strategic context 203
The decision making process, stakeholders and risk 204
The adjusted present value approach 206
12 The Behaviour of FDI 209
Micro investment decisions and their macro consequences 210
The rating agencies 214
The level and fluctuations in FDI 221
The distribution of FDI 223
The role of risk 235
13 Conclusion 236
Appendix 1 240
Appendix 2 242
Notes 245
Bibliography 250
Index 262
List of Tables
5.1 Mapping an investment opportunity onto a call option 82
6.1 A classification of options 89
6.2 The different time perspectives 98
7.1 Stakeholders in an investment project 106
7.2 International stakeholder groups 107
9.1 Country risk sub components from previous research 152
9.2 Country risk sub components from rating agencies 154
11.1 The investment decision process 207
12.1 The risk responses 212
12.2 Methodologies of country ratings agencies 219
12.3 FDI flows as % of Gross Fixed Capital Formation 221
12.4 Levels of FDI 222
12.5 FDI flows as % of GFCF by level of development 223
12.6 Level of country risk and FDI inflows (3 groups) 226
12.7 Country risk and FDI inflows (5 groups) 229
12.8 FDI stocks among Triad members (US\) 234
X
List of Figures
3.1 The matrix of country and industry risk 33
5.1 The error matrix 64
6.1 Mapping an investment strategy 93
6.2 The mode of entry decision tree 102
8.1 A typology of global risk 135
8.2 A typology of industry risk 141
9.1 A typology of country risk 164
10.1 A typology of enterprise risk 172
10.2 A typology of investment risk 175
10.3 The filtering process 176
xi |
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| id | DE-604.BV021738854 |
| illustrated | Illustrated |
| index_date | 2024-07-02T15:28:45Z |
| indexdate | 2024-07-09T20:42:55Z |
| institution | BVB |
| isbn | 9781403945648 1403945640 |
| language | English |
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| spelling | White, Colin 1943- Verfasser (DE-588)131465686 aut Risk and foreign direct investment by Colin White and Miao Fan 1. publ. Basingstoke [u.a.] Palgrave Macmillan 2006 XII, 265 S. Ill. 23 cm txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references (p. 245-261) and index Buitenlandse investeringen gtt Risico's gtt Investments, Foreign Country risk Risk Länderrisiko (DE-588)4114347-4 gnd rswk-swf Direktinvestition (DE-588)4070496-8 gnd rswk-swf Direktinvestition (DE-588)4070496-8 s Länderrisiko (DE-588)4114347-4 s DE-604 http://www.loc.gov/catdir/enhancements/fy0665/2005052283-d.html Publisher description http://www.loc.gov/catdir/enhancements/fy0665/2005052283-t.html Table of contents only HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014952253&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | White, Colin 1943- Risk and foreign direct investment Buitenlandse investeringen gtt Risico's gtt Investments, Foreign Country risk Risk Länderrisiko (DE-588)4114347-4 gnd Direktinvestition (DE-588)4070496-8 gnd |
| subject_GND | (DE-588)4114347-4 (DE-588)4070496-8 |
| title | Risk and foreign direct investment |
| title_auth | Risk and foreign direct investment |
| title_exact_search | Risk and foreign direct investment |
| title_exact_search_txtP | Risk and foreign direct investment |
| title_full | Risk and foreign direct investment by Colin White and Miao Fan |
| title_fullStr | Risk and foreign direct investment by Colin White and Miao Fan |
| title_full_unstemmed | Risk and foreign direct investment by Colin White and Miao Fan |
| title_short | Risk and foreign direct investment |
| title_sort | risk and foreign direct investment |
| topic | Buitenlandse investeringen gtt Risico's gtt Investments, Foreign Country risk Risk Länderrisiko (DE-588)4114347-4 gnd Direktinvestition (DE-588)4070496-8 gnd |
| topic_facet | Buitenlandse investeringen Risico's Investments, Foreign Country risk Risk Länderrisiko Direktinvestition |
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