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Financial Decisions in Emerging Markets Sabal

Financial Decisions in Emerging Markets By Sabal

Financial Decisions in Emerging Markets by Sabal

Reviews:
£8.80
New RRP £42.50
Condition - Very Good
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Very Good

Summary

This is a book for a graduate level course in corporate finance. This unique text aims at establishing financial principles for developing countries in light of the pressures of globalisation. It reviews financial theory with a focus on investment and financing decisions in relation to emerging markets.

Financial Decisions in Emerging Markets Summary

Financial Decisions in Emerging Markets by Sabal

Financial Decisions in Emerging Markets is the first corporate finance book to take into account the context of emerging markets and the problems they present, including the relative lack of market efficiency. It reviews financial theory, with a focus on investment and financing decisions as they relate to investors in emerging markets. The objective of the book is to juxtapose the assumptions of financial theory against the realities prevailing in emerging countries and to propose more relevant approaches for investment analysis. This book provides readers with a solid background to evaluate investments in emerging countries.

Financial Decisions in Emerging Markets Reviews

From the Foreword: This book will appeal to practitioners, development experts as well as students of finance interested in emerging markets--in the latter case perhaps using a standard textbook complemented by the present volume's perspective on 'what's different?' In this context, the book should be welcomed by scholars and practitioners alike.--Ingo Walter, New York University From the Foreword: This book will appeal to practitioners, development experts as well as students of finance interested in emerging markets-in the latter case perhaps using a standard textbook complemented by the present volume's perspective on 'what's different?' In this context, the book should be welcomed by scholars and practitioners alike.--Ingo Walter, New York University

Table of Contents

Introduction Chapter 1: Financial Theory in Emerging Markets 1.1: Financial Theory - What Does it Offer? 1.2: The Limitations of Financial Theory 1.3: Emerging Countries 1.4: Conclusions 1.5: Questions and Problems Part I: The Investor and the Firm Chapter 2: Consumption, Investment, and Value 2.1: Consumption and Investment: A Complex Relationship 2.2: The Fisher Separation Principle 2.3: Consumption and Investment in Practice 2.4: Real and Financial Investments 2.5: Investments in Emerging Markets: Concluding Remarks 2.6: Conclusions 2.7: Questions and Problems Appendix 2A: Net Present Value Chapter 3: The Impact of Risk 3.1: Risk and Investment Decisions 3.2: The Utility Function 3.3: Net Present Value and Returns 3.4: Choosing the Best Investment 3.5: Limitations of the Normal Distribution 3.6: Conclusions 3.7: Questions and Problems Appendix 3A: Probability, Expected Value, and Standard Deviation Appendix 3B: The Normal Distribution Chapter 4: The Benefits of Diversification 4.1: Building Investment Portfolios 4.2: Portfolio Risk and Return 4.3: Finding the Optimum Portfolio 4.4: Conclusions 4.5: Questions and Problems Appendix 4A: Covariance and Correlation Appendix 4B: The Minimum Variance Frontier with N Assets Chapter 5: Personal Investments 5.1: The Relationship Between Probability and Return 5.2: Probabilities, Returns, and Portfolio Selection 5.3: Benefits and Costs of a Controlling Stake 5.4: The Evaluation of Real Investments 5.5: Conclusions 5.6: Questions and Problems Appendix 5A: Probabilities on the Normal Distribution Part I: The Investor and the Firm: Summary Part II: Firm and Investment Chapter 6: The Classical Model 6.1: Real Investments and the Firm 6.2: Separation Between Consumption and Investment Under Uncertainty 6.3: A New Efficient Frontier: The Capital Market Line 6.4: The CAPM 6.5: Conclusions 6.6: Questions and Problems Appendix 6A: Proof of the CAPM Chapter 7: A Modified CAPM for Emerging Countries 7.1: Applicability of the CAPM 7.2: What Country Risk Means 7.3: A Modified CAPM 7.4: Conclusions 7.5: Questions and Problems Chapter 8: Valuation in Emerging Markets 8.1: Inflation and Exchange Rates 8.2: Subsidies 8.3: Capital Rationing 8.4: Horizon and Terminal Value 8.5: References and Adjustments to Expected Net Present Value 8.6: Conclusions 8.7: Questions and Problems Appendix 8A: Selection of Alternatives Under Capital Rationing Appendix 8B: Perpetuities Chapter 9: The Value of Flexibility 9.1: An Introductory Example 9.2: What Is an Option? 9.3: The Binomial Model 9.4: The Black-Scholes Model 9.5: What Determines the Value of an Option Before Expiration? 9.6: Types of Options 9.7: Flexibility in Emerging Markets 9.8: An Investment in a Mining Development 9.9: Real Options and Strategy 9.10: Some Comments on Valuing with Real Options 9.11: Conclusions 9.12: Questions and Problems Appendix 9A: Derivation of the Black-Scholes Equation Part II: Firm and Investment: Summary Part III: Financing and Investment Chapter 10: Financing in Theory 10.1: Firm Financing 10.2: A Simple Model 10.3: What Happens When There Are Taxes? 10.4: The Costs of Financial Distress 10.5: Conclusions 10.6: Questions and Problems Chapter 11: Financing in Practice 11.1: The Determinants of Leverage 11.2: Leverage in Emerging Markets 11.3: A Practical Determination of Leverage in Emerging Markets 11.4: Cost of Capital and Discount Rate in Emerging Countries 11.5: Conclusions 11.6: Questions and Problems Chapter 12: Financing and Value 12.1: The Value of Financial Flexibility 12.2: Financing Strategy 12.3: Conclusions 12.4: Questions and Problems Appendix 12A: The Conditions for Cash Dividend Irrelevance Part III: Financing and Investment Summary Chapter 13: Final Remarks 13.1: The Value of Investment Opportunities 13.1: Country Risk and Cash Flow Estimation 13.1: Valuation Methods 13.1: Financing Decisions Answers to the End-of-Chapter Questions and Problems

Additional information

GOR007283740
9780195144598
0195144597
Financial Decisions in Emerging Markets by Sabal
Sabal
Used - Very Good
Paperback
Oxford University Press Inc
20020227
304
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
This is a used book - there is no escaping the fact it has been read by someone else and it will show signs of wear and previous use. Overall we expect it to be in very good condition, but if you are not entirely satisfied please get in touch with us

Customer Reviews - Financial Decisions in Emerging Markets