State capitalism and capital markets: Comparing securities exchanges in emerging markets

Venture 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 ...

Financial 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...

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...

Self-Regulation and Securities Markets

Capital Flows, Output Volatility, and Financial Crises in Emerging Markets

The surge in capital flows towards emerging market countries is one of the major developments in the world economy in the 1990s. In particular, short-term flows, in the form of portfolio investments or bank loans, have grown at an extremely rapid pace. At the same time, emerging markets have experienced an increasing number of financial crises, with dire consequences. It is increasingly argued ...