Business finance in less developed capital markets

edited by Klaus P. Fischer and George J. Papaioannou

Business finance in less developed economies cannot be analysed or measured by the approaches utilised 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 aim to break new ground by focusing on the unique problems of capital markets in the developing world. The problems of organising securities markets and such capital market institutions as mutual funds are examined. The sources of financial capital and the interaction of state credit politics and the investment decisions and practices of the private sector are also analysed. Together these essays aim to provide developmental and business economists with provocative questions. They should be of concern to all involved with economic growth in the less developed world.

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  • Business Finance in Less Developed Capital Markets - An Emerging Field of Study, Klaus P. Fischer and George J. Papaioannou. Part 1 Development of Capital Markets: Venture Capital - Is It Appropriate for Developing Countries?, Richard Kitchen
  • Problems of Orthodox Formal Capital Markets in Developing Countries, with Particular Reference to Nigeria, Ade T. Ojo
  • Securities Market Development and Economic Growth, P.C. Kumar and George Tsetsekos
  • Mutual Funds in Developing Capital Markets - A Critical Evaluation of Turkish Experience, Yaman Asikoglou et al
  • Discussants' comments, Frank Tuzzolino et al. Part 2 Risk and Reform in Securities Markets: Chinese New Year, Common Stock Purchasing and Cumulative Excess Returns - Is The Taiwanese Stock Market Informationally Inefficient?, C.F. Lee et al
  • Reactions of the Taiwanese Stock Market to Trade Talks with the US, Gili Yen and Philip Chang
  • Mutual Fund Performance in the Brazilian Stock Market - 1984-1985, Antonio Zoratto Sanvicente and Everaldo Guedes Franca
  • Market Efficiency (Weak-Form) Tests of the Malaysian Stock Exchange, Othman Yong
  • Discussants' Comments, Hugh Haworth et al. Part 3 Asset Management: Financial Management and Goal Programming in Imperfect Capital Markets, Edgar Ortiz and Graciela Bueno
  • Capital Budgeting in Countries with Less-developed Capital Markets - Financial and Ethical Issues, Marjorie T. Stanley
  • The Joint Venture Game in Poland, Aleksander Sulejewicz
  • Discussants' Comments, Linda Allen. Part 4 Credit and Financing Policy: Macro Shocks and Industrial Portfolio Responses - An Econometric Model for LDCs, James Tybout and Taeho Bark
  • Optimal Corporate Debt Financing and Real Investment Decisions Under Controlled Banking Systems, Mansoor Dailami
  • Interest Rate Reform and Private Investment Behaviour in Developing Countries - Evidence from Peru, Uwe Corsepius
  • Discussants' Comments, Ashok Vora et al. Part 5 Theory of the Firm: Enterprise Governance and Growth - Notes on the Theory of the Firm in Less-developed Capital Markets, Stavros B. Thomadakis
  • Financial Management in Public Enterprises in India, V.N. Hukku
  • Discussants' Comments, Lemma W. Senbet. Part 6 International Capital and Enterprise Incentives: Financial Contracting Between Non-OPEC Developing Countries and Multinationals for Oil Extraction, Daniel D. Tzang
  • Investment Incentives and Renegotiations in International Lending, George C. Anayiotos
  • Expectations of Devaluation, the Real Rate of Interest and the Private Sector in a Dual Currency Economy, Graciana del Castillo
  • Discussants' Comments, Jeffrey Weiss et al. Part 7 Panel Discussion Research Directions: Research in Business Finance - A Mexican Perspective, Edgar Urtiz
  • Research Directions - A Theoretical Framework, Lemma W. Senbet
  • Research Directions - International Investments, Vihang Errunza.

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書名 Business finance in less developed capital markets
著作者等 Fischer, Klaus Peter
Hofstra University
Papaioannou, George J.
Fischer Klaus P.
シリーズ名 Contributions in economics and economic history
出版元 Greenwood Press
刊行年月 1992
ページ数 xi, 391 p.
大きさ 25 cm
ISBN 0313279721
NCID BA19677817
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言語 英語
出版国 アメリカ合衆国