منابع مشابه
The Risky Capital of Emerging Markets∗
Emerging markets exhibit (1) high expected returns to capital and (2) large exposures to movements in US returns, measured by the ‘beta’ of the returns to the asset on the returns to its US counterpart. We document these facts in detail for two asset classes stock market returns and the return to aggregate capital and we provide further evidence from a third class sovereign bonds. We use a seri...
متن کاملVenture Capital Exits in Emerging Markets
We analyze a sample of 336 venture capital exits from 12 Asia -Pacific countries: Australia, China, Hong Kong, India, Indonesia, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan and Thailand. The data also comprise these countries’ venture capitalists’ investments in U.S.-based entrepreneurial firms. We consider the determinants of the types of entrepreneurial firms receiving ...
متن کاملFinancial integration and emerging markets capital structure
0378-4266/$ see front matter 2010 Published by doi:10.1016/j.jbankfin.2010.10.017 ⇑ Corresponding author at: School of Business an Integration Studies, Trinity College Dublin, College G +353 1 8961522; fax: +353 1 6799503. E-mail addresses: [email protected] (B.M. Lucey), qzha This paper investigates the impact of country-level financial integration on corporate financing choices in emerging econom...
متن کاملCapital Flows to Emerging Markets: The Myths and Realities
“...capital account liberalization is...similar to the issue of how the human race should make use of fire. Fire warms our homes. It cooks our food, our internal combustion engines. It powers our automobiles and trucks and our turbojets. It powers our airplanes. No doubt, fire is very useful, and we are not going to give up its manifold benefits. On the other hand, fire can also burn you down a...
متن کاملImportance of Politics in the Reform of Capital Markets: Case Study of the Egyptian Capital Market
Financial development has proved to be a perfect indicator and reliable proxy for economic growth. Capital Finance is one of the main vehicles of finance. Capital markets, as Thorsten Beck and Ross Levine showed empirically, can solely and independently lead to economic growth. The consensus about the importance of financial markets and, particularly, the role that capital markets play in moder...
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ژورنال
عنوان ژورنال: Brookings-Wharton Papers on Financial Services
سال: 2001
ISSN: 1533-4430
DOI: 10.1353/pfs.2001.0011