International Financial Integration Through Equity Markets Which Firms From Which Countries Go Global ?
International Financial Integration Through Equity Markets: Which Firms From Which Countries Go Global ?

The authors study international financial integration analyzing firms from various countries raising capital, trading equity, and cross-listing in major world stock markets. Using a large sample of 39,517 firms from 111 countries covering the period 1989-2000, they find that, although international...

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Bibliographische Detailangaben
1. Verfasser: Claessens, Stijn 1959- (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Washington, D.C The World Bank 2007
Schlagworte:
Globalisierung
Access To Capital
Bank Policy
Budget
Capital Markets
Debt Markets
Economic Theory and Research
Emerging Markets
Equity
Equity Markets
Exchange
Finance
Finance and Financial Sector Development
Financial Literacy
Financial Markets
Financial Support
Globalization
International Economy
Macroeconomics and Economic Growth
Markets and Market Access
Microfinance
Private Sector Development
Small Scale Enterprises
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Zusammenfassung:The authors study international financial integration analyzing firms from various countries raising capital, trading equity, and cross-listing in major world stock markets. Using a large sample of 39,517 firms from 111 countries covering the period 1989-2000, they find that, although international financial integration increases substantially over this period, only relatively few countries and firms actively participate in international markets. Firms more likely to internationalize are from larger and more open economies, with higher income, better macroeconomic policies, and worse institutional environments. These firms tend to be larger, grow faster, and have higher returns and more foreign sales. While changes occur with internationalization, these firm attributes are present before internationalization takes place. The results suggest that international financial integration will likely remain constrained by country and firm characteristics
Beschreibung:Weitere Ausgabe: Claessens, Stijn: International Financial Integration Through Equity Markets
Beschreibung:1 Online-Ressource (1 online resource (49 p.))
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