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The Internationalization Of Equity Markets
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Book Synopsis The Internationalization of Equity Markets by : Jeffrey A. Frankel
Download or read book The Internationalization of Equity Markets written by Jeffrey A. Frankel and published by University of Chicago Press. This book was released on 2008-04-15 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely volume addresses three important recent trends in the internationalization of United States equity markets: extensive market integration through foreign investment and links among stock prices around the world; increasing securitization as countries such as Japan come to rely more than ever before on markets in equities and bonds at the expense of banks; and the opening of national financial systems of newly industrializing countries to international financial flows and institutions, as governments remove capital controls and other barriers. Eight essays examine such issues as the current extent of international market integration, gains to U.S. investors through international diversification, home-country bias in investing, the role of time and location around the world in stock trading, and the behavior of country funds. Other, long-standing questions about equity markets are also addressed, including market efficiency and the accuracy of models of expected returns, with a particular focus on variances, covariances, and the price of risk according to the Capital Asset Pricing Model.
Book Synopsis The Internationalization of Equity Markets by : Jeffrey A. Frankel
Download or read book The Internationalization of Equity Markets written by Jeffrey A. Frankel and published by . This book was released on 2010 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This introduction to a forthcoming NBER volume on 'The Internationalization of Equity Markets' argues that the existing finance literature has in some respects not kept pace with world trends. Most empirical studies fail to take due account of the diversity of assets offered by countries around the world, the diversity of locales in which investors live, and the diversity of institutional peculiarities that characterize the markets in which assets and investors are brought together. Four of the papers in the volume are econometric studies of asset pricing and home-country bias in internationally integrated equity markets. The other four examine such issues as emerging markets, country funds, trading volume, location, taxes, controls, and other imperfections in international markets.
Book Synopsis The Internationalization of Capital Markets and the Regulatory Response by : John Fingleton
Download or read book The Internationalization of Capital Markets and the Regulatory Response written by John Fingleton and published by Springer. This book was released on 1992-11-17 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the increasing internationalization of capital markets, the growth in cross-border financial trades, and the blurring of the distinction between banking and securities transactions, regulators have been obliged to face the new challenge of increasing the international co-ordination of regulatory response to changing market conditions.
Book Synopsis The Internationalization of China’s Equity Markets by : Juan J. Cortina
Download or read book The Internationalization of China’s Equity Markets written by Juan J. Cortina and published by International Monetary Fund. This book was released on 2023-02-10 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s equity markets internationalization process started in the early 2000s but accelerated after 2012, when Chinese firms’ shares listed in Shanghai and Shenzhen gradually became available to international investors. This paper studies the effects of the post-2012 internationalization events by comparing the evolution of equity financing and investment activities for: (i) domestic listed firms relative to firms that already had access to international investors and (ii) domestic listed firms that were directly connected to international markets relative to those that were not. The paper finds large increases in financial and investment activities for domestic listed and for connected firms, with significant aggregate effects. The evidence also suggests the rise in firms’ equity issuances was primarily and initially financed by domestic investors. International investors’ portfolio holdings in Chinese equity markets and ownership in firms increased markedly only once Chinese firms’ locally issued shares became part of the MSCI Emerging Markets Index.
Book Synopsis International Capital Flows by : Martin Feldstein
Download or read book International Capital Flows written by Martin Feldstein and published by University of Chicago Press. This book was released on 2007-12-01 with total page 500 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent changes in technology, along with the opening up of many regions previously closed to investment, have led to explosive growth in the international movement of capital. Flows from foreign direct investment and debt and equity financing can bring countries substantial gains by augmenting local savings and by improving technology and incentives. Investing companies acquire market access, lower cost inputs, and opportunities for profitable introductions of production methods in the countries where they invest. But, as was underscored recently by the economic and financial crises in several Asian countries, capital flows can also bring risks. Although there is no simple explanation of the currency crisis in Asia, it is clear that fixed exchange rates and chronic deficits increased the likelihood of a breakdown. Similarly, during the 1970s, the United States and other industrial countries loaned OPEC surpluses to borrowers in Latin America. But when the U.S. Federal Reserve raised interest rates to control soaring inflation, the result was a widespread debt moratorium in Latin America as many countries throughout the region struggled to pay the high interest on their foreign loans. International Capital Flows contains recent work by eminent scholars and practitioners on the experience of capital flows to Latin America, Asia, and eastern Europe. These papers discuss the role of banks, equity markets, and foreign direct investment in international capital flows, and the risks that investors and others face with these transactions. By focusing on capital flows' productivity and determinants, and the policy issues they raise, this collection is a valuable resource for economists, policymakers, and financial market participants.
Book Synopsis Internationalization of the Securities Markets by :
Download or read book Internationalization of the Securities Markets written by and published by . This book was released on 1988 with total page 1026 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Equity Markets by : Robert Lilja
Download or read book International Equity Markets written by Robert Lilja and published by Euromoney Publications. This book was released on 1997 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Financial Integration Through Equity Markets by : Stijn Claessens
Download or read book International Financial Integration Through Equity Markets written by Stijn Claessens and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Global Equity Markets by : Robert Alan Schwartz
Download or read book Global Equity Markets written by Robert Alan Schwartz and published by Irwin Professional Publishing. This book was released on 1995 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global equity market structure faces constant change and development. This timely resource is for financial professionals who want to understand the full scope of these changes, as well as the range of challenges they pose. In this book, noted regulators, scholars, and other professionals assess the current state of major and emerging global securities markets and the forces that move them.
Author :United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Publisher : ISBN 13 : Total Pages :336 pages Book Rating :4.F/5 ( download)
Book Synopsis The internationalization of capital markets by : United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Download or read book The internationalization of capital markets written by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs and published by . This book was released on 1986 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Equity Culture by : B. Mark Smith
Download or read book The Equity Culture written by B. Mark Smith and published by Farrar, Straus and Giroux. This book was released on 2015-08-04 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Expert Chronicle of the Market's Ever-Growing Role Worldwide The modern stock market, B. Mark Smith's new book makes clear, is only one component of a much broader "equity culture"-a lively and complex international market involving stocks, bonds, mutual funds; joint stock and limited liability corporations; and trading in grain, gold, diamonds, and currency. The Equity Culture is the story of how that market came about-from shipping magnates banding together in eighteenth-century India to the railroad robber barons of nineteenth-century America to currency traders such as George Soros. Smith's spirited and colorful telling makes two points especially clear: that the equity culture has always been international, with globalization as merely its current phase; and that the equity culture is often surprisingly self-adjusting, with "manias, panics, and crashes" making possible ever greater risk and innovation.
Book Synopsis International Financial Integration Through Equity Markets by : Stijn Claessens
Download or read book International Financial Integration Through Equity Markets written by Stijn Claessens and published by . This book was released on 2017 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Internationalisation of Stockmarkets by : David E. Ayling
Download or read book The Internationalisation of Stockmarkets written by David E. Ayling and published by Gower Publishing Company, Limited. This book was released on 1986 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Equity Exchange-Traded Funds by : Tomasz Miziołek
Download or read book International Equity Exchange-Traded Funds written by Tomasz Miziołek and published by Springer Nature. This book was released on 2020-09-23 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the economic foundation of international equity investments providing a practical guide to invest in international equity exchange-traded funds (ETFs). It shows how to gain exposure to foreign stock markets through both theoretical foundations of international diversification and in-depth characteristics of global, regional, country-specific, and international sector/thematic ETFs. Unlike other books in the field which broadly discuss different aspects of the ETF market, this book explores one specific market segment, offering the first in-depth and state-of-the-art analysis of international equity ETFs and including, in particular, ETFs with global, regional, single-country, and international sector/thematic exposures. The number and variety of such financial instruments are constantly growing. Hence, it seems obvious that there is an urgent need for a book that will help investors who are willing to diversify their portfolios outside the domestic market—in both developed and emerging/frontier markets. International Equity Exchange-Traded Funds presents a comprehensive review of investment possibilities offered by international ETFs for stock market investors.
Book Synopsis The Politics of Equity Finance in Emerging Markets by : Kathryn C. Lavelle
Download or read book The Politics of Equity Finance in Emerging Markets written by Kathryn C. Lavelle and published by Oxford University Press. This book was released on 2004-10-14 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emerging market stock issuance relative to GDP rose in the late twentieth century to levels that roughly matched that of advanced, industrial markets. Nonetheless, the connection between owning shares of emerging market stock and the ability to influence the management of these firms remains fundamentally different from the analogous institutional connection that has evolved in industrial markets. The reasons for the differences in emerging markets are both historical and political in nature. That is, local equity markets have had the objective of providing for some degree of local ownership and control of large economic entities since the late nineteenth century. However, local markets have operated under different global political structures since that time, ranging from imperialism, to world wars, to sovereign developmental states, to neo-liberal states. Shares issued under these different structures have been reconfigured over time, resulting in a lack of convergence along either the Anglo-American or Continental models of corporate governance. The author uses a political science paradigm to explain the growth of emerging equity markets. She departs from conventional economic explanations and examines politics at the micro-level of large issues of emerging market stock. The second half of the book presents case studies dealing with emerging market countries in Latin America, Asia, Russia and Eastern Europe, Africa and the Middle East. The case studies connect the regional, state, and firm levels to detail the multiple ownership and control arrangements, and to dispel the notion that mere quantitative growth of these markets will lead to a convergence in financial institutional structures along the lines of the industrial core of the world economy.
Book Synopsis THE INTERNATIONALISATION OF STOCK MARKETS: THE TREND TOWARDS GREATER FOREIGN BORROWING AND INVESTMENT by : David E. AYLING
Download or read book THE INTERNATIONALISATION OF STOCK MARKETS: THE TREND TOWARDS GREATER FOREIGN BORROWING AND INVESTMENT written by David E. AYLING and published by . This book was released on 1986 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Investments by : Bruno H. Solnik
Download or read book International Investments written by Bruno H. Solnik and published by Addison Wesley Publishing Company. This book was released on 1988 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text provides students and practitioners with coverage of international investments.
