International Environment of Global Business eJournal最新文献_第4页

Notes on Successful Banking Reform in Nigeria 关于尼日利亚成功的银行改革的说明

International Environment of Global Business eJournal Pub Date : 2010-06-04 DOI: 10.2139/ssrn.1650224

Emeka R. Offor

引用次数: 0

Living in a Global Monitory Democracy: Social Responsibility, Global Strategy and the Multinational Enterprise 生活在一个全球监测的民主:社会责任，全球战略和跨国企业

International Environment of Global Business eJournal Pub Date : 2010-06-01 DOI: 10.2139/ssrn.1633971

T. Devinney

引用次数: 2

The Impact of CDS Trading on the Bond Market: Evidence from Asia CDS交易对债券市场的影响:来自亚洲的证据

International Environment of Global Business eJournal Pub Date : 2010-05-30 DOI: 10.2139/ssrn.1652654

Ilhyock Shim, Haibin Zhu

引用次数: 41

Estimation of Discount Rates in Latin America: Empirical Evidence and Challenges 拉丁美洲的贴现率估计:经验证据和挑战

International Environment of Global Business eJournal Pub Date : 2010-05-27 DOI: 10.46631/jefas.2010.v15n28.01

Darcy Fuenzalida, Samuel Mongrut

{"title":"Estimation of Discount Rates in Latin America: Empirical Evidence and Challenges","authors":"Darcy Fuenzalida, Samuel Mongrut","doi":"10.46631/jefas.2010.v15n28.01","DOIUrl":"https://doi.org/10.46631/jefas.2010.v15n28.01","url":null,"abstract":"This paper compares the main proposals that have been made in order to estimate discount rates in emerging markets. Seven methods are used to estimate the cost of equity capital in the case of global well-diversified investors; two methods are used to estimate it in the case of imperfectly diversified local institutional investors; and one method is used to estimate the required return in the case of non-diversified entrepreneurs. Using the first nine methods, one estimates the costs of equity for all economic sectors in six Latin American emerging markets. Consistently with studies applied to other regions, a great deal of disparity is observed between the discount rates obtained across the different models, which implies that no model is better than the others. Likewise, the paper shows that Latin American markets are in a process of becoming more integrated with the world market because discount rates have decreased consistently during the first five-year period of the XXI Century. Finally, one identifies several challenges that have to be tackled to estimate discount rates and valuate investment opportunities in emerging markets.","PeriodicalId":213755,"journal":{"name":"International Environment of Global Business eJournal","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116880355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 30

Staying Close to Home? Foreign Bank Participation in Syndicated Loans 离家近?外资银行参与银团贷款

International Environment of Global Business eJournal Pub Date : 2010-05-18 DOI: 10.2139/ssrn.1611901

G. Boyle, R. Stover

引用次数: 3

Evaluating the Efficiency of Vietnamese Banking System: An Application Using Data Envelopment Analysis 评价越南银行系统效率:基于数据包络分析的应用

International Environment of Global Business eJournal Pub Date : 2010-05-10 DOI: 10.2139/ssrn.1626009

Thanh Ngo

{"title":"Evaluating the Efficiency of Vietnamese Banking System: An Application Using Data Envelopment Analysis","authors":"Thanh Ngo","doi":"10.2139/ssrn.1626009","DOIUrl":"https://doi.org/10.2139/ssrn.1626009","url":null,"abstract":"Over the last twenty years in Vietnam, the financial system in general and the banking system in particular had been transferred from a monopoly system into a diversified system which allows all participants to compete fairly and effectively. Within these past years, the banking system in Vietnam did gradually developed in number of banking institutions, size of the banking sector in the economy, amount of credits for the economy, and amount of other banking services as well. Along with the development of the banking system in number, size, asset value, deposit, credit and debit account, ATM/POS, interest rates, etc. which attracted more and more customers using the banking’ services; the efficiency of the banking system also has been increasing. So far, there is still a lack of research on the efficiency of the banking sector in Vietnam over the decades. Several researches were conducted, however, due to the data limitation, these researches were just small steps at the big front gate. This paper, which focuses on evaluating the efficiency of bigger sample size of Vietnamese commercial banks in the year of 2008, tends to make a contribution to this progress. The DEA approach allows this paper to evaluate the efficiency of 22 Vietnamese commercial banks in using their inputs in 2008 (these banks were ranked top in the banking industry in Vietnam – VNR500 in 2009). After analyzing, the research comes to a conclusion that although the efficiency of these banks is averagely high, however, there is still an opportunity to improve this indicator.","PeriodicalId":213755,"journal":{"name":"International Environment of Global Business eJournal","volume":"116 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116969081","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 13

International Transmission of Bank and Corporate Distress 银行和企业困境的国际传导

International Environment of Global Business eJournal Pub Date : 2010-05-01 DOI: 10.5089/9781455200832.001.A001

Qianying Chen, D. Gray, Papa N’Diaye, Hiroko Oura, Natalia T. Tamirisa

引用次数: 40

Dynamic Loan Loss Provisions in Uruguay: Properties, Shock Absorption Capacity and Simulations Using Alternative Formulas 乌拉圭动态贷款损失准备金:属性、减震能力和使用替代公式的模拟

International Environment of Global Business eJournal Pub Date : 2010-05-01 DOI: 10.5089/9781455200849.001

Torsten Wezel

引用次数: 34

Bones of Contention - What Drives Mergers and Acquisitions in Emerging Markets? 争论的焦点——是什么推动了新兴市场的并购?

International Environment of Global Business eJournal Pub Date : 2010-05-01 DOI: 10.2139/ssrn.1596595

Camilla Jensen

{"title":"Bones of Contention - What Drives Mergers and Acquisitions in Emerging Markets?","authors":"Camilla Jensen","doi":"10.2139/ssrn.1596595","DOIUrl":"https://doi.org/10.2139/ssrn.1596595","url":null,"abstract":"The objective of the paper is to offer an evaluation of existing theories towards understanding the increase in mergers and acquisitions in an emerging market such as Turkey. A review of the existing theoretical and applied literature suggests that the neoclassical hypothesis (the q theory of investment) lacks in its content both when it comes to accounting for the role of the firm in production and the role of institutions in the process of industrial restructuring. The (revised) q theory is therefore not sufficient towards offering a general theory of mergers and acquisitions that can extend to explain the phenomena in emerging markets. The different available theoretical hypotheses are confronted with information about acquisitions and financial data for Turkey. There is no evidence that acquirers targeted specific industries (except banking) because of the large firm bias in the sampled transactions. There is also no evidence that acquirers targeted specific firms (high or low performing). Also, there is no evidence that Turkish acquirers came from specific firms (high or low performing or relatively larger firms). The only patterns that emerge from the analysis is that the institutional hypothesis of clustering in time and by industry is confirmed also for Turkey and that asset matching in Turkey (whether the assets sold went to local or foreign owners) was synergistic in nature except during episodes of financial crisis. Based on the ex-ante characteristics of firms (including poor performance of vendors and frequent trading of same targets) involved in these events the research suggests that the Turkish M&A market is more a rope pulling contest in a seller’s market than a beauty contest in a buyer’s market.","PeriodicalId":213755,"journal":{"name":"International Environment of Global Business eJournal","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128315039","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 8

Important Elements for Inflation Targeting for Emerging Economies 新兴经济体通胀目标制的重要因素

International Environment of Global Business eJournal Pub Date : 2010-05-01 DOI: 10.5089/9781455200726.001.A001

Inci Otker-Robe, C. Freedman

引用次数: 37