메뉴 건너뛰기




Volumn 20, Issue 2, 2009, Pages 105-134

Capital budgeting and political risk: Empirical evidence

Author keywords

[No Author keywords available]

Indexed keywords


EID: 65449119517     PISSN: 09541314     EISSN: 1467646X     Source Type: Journal    
DOI: 10.1111/j.1467-646X.2009.01028.x     Document Type: Article
Times cited : (23)

References (48)
  • 1
    • 0003247830 scopus 로고    scopus 로고
    • "The Theory-Practice Gap in Capital Budgeting: Evidence from the United Kingdom"
    • Arnold, G.C. and P.D. Hatzopoloulos, "The Theory-Practice Gap in Capital Budgeting: Evidence from the United Kingdom," Journal of Business Finance and Accounting 27 (2000), pp. 603-626.
    • (2000) Journal of Business Finance and Accounting , vol.27 , pp. 603-626
    • Arnold, G.C.1    Hatzopoloulos, P.D.2
  • 4
    • 0002075542 scopus 로고
    • "Managing Against Expropriation"
    • Bradley, D.G., "Managing Against Expropriation," Harvard Business Review 55 (1977), pp. 75-83.
    • (1977) Harvard Business Review , vol.55 , pp. 75-83
    • Bradley, D.G.1
  • 6
    • 11244313074 scopus 로고    scopus 로고
    • "Corporate Finance in Europe: Confronting Theory with Practice"
    • Brounen, D., A. de Jong and K. Koedijk, "Corporate Finance in Europe: Confronting Theory with Practice," Financial Management 33 (2004), pp. 71-101.
    • (2004) Financial Management , vol.33 , pp. 71-101
    • Brounen, D.1    de Jong, A.2    Koedijk, K.3
  • 8
    • 84986431177 scopus 로고
    • "Moral Hazard and Capital Budgeting"
    • Chaney, P.K., "Moral Hazard and Capital Budgeting," Journal of Financial Research 12 (1989), pp. 113-128.
    • (1989) Journal of Financial Research , vol.12 , pp. 113-128
    • Chaney, P.K.1
  • 10
    • 0038347174 scopus 로고    scopus 로고
    • "Pricing the Cost of Expropriation Risk"
    • Clark, E., "Pricing the Cost of Expropriation Risk," Review of International Economics 11 (2003), pp. 412-422.
    • (2003) Review of International Economics , vol.11 , pp. 412-422
    • Clark, E.1
  • 12
    • 33846264382 scopus 로고    scopus 로고
    • "Measuring Company Exposure to Country Risk: Theory and Practice"
    • Damodaran, A., "Measuring Company Exposure to Country Risk: Theory and Practice," Journal of Applied Finance 13 (2003), pp. 63-75.
    • (2003) Journal of Applied Finance , vol.13 , pp. 63-75
    • Damodaran, A.1
  • 14
  • 16
    • 84993843447 scopus 로고
    • "Risk Management: Coordinating Corporate Investment and Financing Policies"
    • Froot, K.A., D.S. Scharfstein and J.C. Stein, "Risk Management: Coordinating Corporate Investment and Financing Policies," Journal of Finance 48 (1993), pp. 1629-1658.
    • (1993) Journal of Finance , vol.48 , pp. 1629-1658
    • Froot, K.A.1    Scharfstein, D.S.2    Stein, J.C.3
  • 18
    • 0002565873 scopus 로고    scopus 로고
    • "A Practical Approach to Calculating Cost of Equity for Investments in Emerging Markets"
    • Godfrey, S. and R. Espinosa, "A Practical Approach to Calculating Cost of Equity for Investments in Emerging Markets," Journal of Applied Corporate Finance 9 (1996), pp. 80-89.
    • (1996) Journal of Applied Corporate Finance , vol.9 , pp. 80-89
    • Godfrey, S.1    Espinosa, R.2
  • 19
    • 0000318873 scopus 로고    scopus 로고
    • "The Theory and Practice of Corporate Finance: Evidence from the Field"
    • Graham, J.R. and C.R. Harvey, "The Theory and Practice of Corporate Finance: Evidence from the Field," Journal of Financial Economics 60 (2001), pp. 187-243.
    • (2001) Journal of Financial Economics , vol.60 , pp. 187-243
    • Graham, J.R.1    Harvey, C.R.2
  • 21
    • 0042237393 scopus 로고    scopus 로고
    • "The Drivers of Expected Returns in International Markets"
    • Harvey, C.R., "The Drivers of Expected Returns in International Markets," Emerging Market Quarterly 4 (2000), pp. 1-17.
    • (2000) Emerging Market Quarterly , vol.4 , pp. 1-17
    • Harvey, C.R.1
  • 22
    • 44649197264 scopus 로고
    • "Theory of the Firm: Managerial Behaviour, Agency Costs, and Ownership Structure"
    • Jensen, M.C. and W.H. Meckling, "Theory of the Firm: Managerial Behaviour, Agency Costs, and Ownership Structure," Journal of Financial Economics 3 (1976), pp. 305-360.
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 23
    • 58949098847 scopus 로고    scopus 로고
    • "Investment Valuation Methods and Required Rate of Return in Finnish Publicly Listed Companies"
    • Liljeblom, E. and M. Vaihekoski, "Investment Valuation Methods and Required Rate of Return in Finnish Publicly Listed Companies," Finnish Journal of Business Economics 53 (2004), pp. 6-22.
    • (2004) Finnish Journal of Business Economics 6-22. , vol.53 , pp. 6-22
    • Liljeblom, E.1    Vaihekoski, M.2
  • 24
    • 0002337784 scopus 로고
    • "Pricing Expropriation Risk"
    • Mahajan, A., "Pricing Expropriation Risk," Financial Management 19 (1990), pp. 77-86.
    • (1990) Financial Management , vol.19 , pp. 77-86
    • Mahajan, A.1
  • 25
    • 0000216735 scopus 로고
    • "Survey of Capital Budgeting: Theory and Practice"
    • Mao, J.C.T., "Survey of Capital Budgeting: Theory and Practice," Journal of Finance 25 (1970), pp. 349-360.
    • (1970) Journal of Finance , vol.25 , pp. 349-360
    • Mao, J.C.T.1
  • 27
    • 19144371818 scopus 로고    scopus 로고
    • "Risk and Ex Ante Cost of Equity Estimates of Emerging Market Firms"
    • Mishra, D.R. and T.J. O'Brien, "Risk and Ex Ante Cost of Equity Estimates of Emerging Market Firms," Emerging Market Review 6 (2005), pp. 107-120.
    • (2005) Emerging Market Review , vol.6 , pp. 107-120
    • Mishra, D.R.1    O'Brien, T.J.2
  • 28
    • 84978566997 scopus 로고
    • "An Analysis of the Financial Management Techniques Currently Employed by Large US Corporations"
    • Moore, J.S. and A.K. Reichert, "An Analysis of the Financial Management Techniques Currently Employed by Large US Corporations," Journal of Business Finance and Accounting 10 (1983), pp. 623-645.
    • (1983) Journal of Business Finance and Accounting , vol.10 , pp. 623-645
    • Moore, J.S.1    Reichert, A.K.2
  • 29
    • 33644792247 scopus 로고    scopus 로고
    • "The Determinants of Foreign Direct Investment: An Extreme Bounds Analysis"
    • Moosa, I.A. and B.A. Cardak, "The Determinants of Foreign Direct Investment: An Extreme Bounds Analysis," Journal of Multinational Financial Management 16 (2006), pp. 199-211.
    • (2006) Journal of Multinational Financial Management , vol.16 , pp. 199-211
    • Moosa, I.A.1    Cardak, B.A.2
  • 30
    • 48549110620 scopus 로고
    • "Corporate Financing and Investment Decisions When Firms have Information that Investors do not have"
    • Myers, S.C. and N.S. Majluf, "Corporate Financing and Investment Decisions When Firms have Information that Investors do not have," Journal of Financial Economics 13 (1984), pp. 187-221.
    • (1984) Journal of Financial Economics , vol.13 , pp. 187-221
    • Myers, S.C.1    Majluf, N.S.2
  • 31
    • 0040007169 scopus 로고
    • "Observability and the Payback Criterion"
    • Narayanan, M.P., "Observability and the Payback Criterion," Journal of Business 58 (1985), pp. 309-323.
    • (1985) Journal of Business , vol.58 , pp. 309-323
    • Narayanan, M.P.1
  • 32
    • 68149174054 scopus 로고    scopus 로고
    • "A Longitude Survey on Capital Budgeting Practices"
    • Pike, R., "A Longitude Survey on Capital Budgeting Practices," Journal of Business Finance and Accounting 23 (1996), pp. 79-92.
    • (1996) Journal of Business Finance and Accounting , vol.23 , pp. 79-92
    • Pike, R.1
  • 33
    • 65449151459 scopus 로고
    • "Exchange Rate and Expropriation Risk in Multinational Capital Budgeting: A Stochastic Calculus Approach"
    • Pointon, J. and V. Hooper, "Exchange Rate and Expropriation Risk in Multinational Capital Budgeting: A Stochastic Calculus Approach," International Journal of Business Studies 3 (1995), pp. 81-88.
    • (1995) International Journal of Business Studies , vol.3 , pp. 81-88
    • Pointon, J.1    Hooper, V.2
  • 34
    • 0002263939 scopus 로고
    • "Political Risk: Identification and Assessment"
    • Robock, S.H., "Political Risk: Identification and Assessment," Columbia Journal of World Business 6 (1971), pp. 6-20.
    • (1971) Columbia Journal of World Business , vol.6 , pp. 6-20
    • Robock, S.H.1
  • 35
    • 0037432507 scopus 로고    scopus 로고
    • "Capital Budgeting Methods among Sweden's Largest Groups of Companies: The State of the Art and a Comparison with Earlier Studies"
    • Sandahl, G. and S. Sjögren, "Capital Budgeting Methods among Sweden's Largest Groups of Companies: The State of the Art and a Comparison with Earlier Studies," International Journal of Production Economics 84 (2003), pp. 51-69.
    • (2003) International Journal of Production Economics , vol.84 , pp. 51-69
    • Sandahl, G.1    Sjögren, S.2
  • 36
    • 0000265636 scopus 로고
    • "Capital Investment Appraisal Techniques: A Survey of Current Usage"
    • Sangster, A., "Capital Investment Appraisal Techniques: A Survey of Current Usage," Journal of Business Finance and Accounting 20 (1993), pp. 307-332.
    • (1993) Journal of Business Finance and Accounting , vol.20 , pp. 307-332
    • Sangster, A.1
  • 38
    • 0033874445 scopus 로고    scopus 로고
    • "'A Comparison of Managers' Perceptions of Short-Termism in Sweden and the US"
    • Segelod, E., "'A Comparison of Managers' Perceptions of Short-Termism in Sweden and the US," International Journal of Production Economics 63 (2000), pp. 243-254.
    • (2000) International Journal of Production Economics , vol.63 , pp. 243-254
    • Segelod, E.1
  • 39
    • 0010997153 scopus 로고
    • "Capital Budgeting for the Multinational Corporation"
    • Shapiro, A.C., "Capital Budgeting for the Multinational Corporation," Financial Management 17 (1978), pp. 7-16.
    • (1978) Financial Management , vol.17 , pp. 7-16
    • Shapiro, A.C.1
  • 40
    • 84891501009 scopus 로고
    • "Managing Political Risk: A Policy Approach"
    • Shapiro, A.C., "Managing Political Risk: A Policy Approach," Columbia Journal of World Business 16 (1981), pp. 63-69.
    • (1981) Columbia Journal of World Business , vol.16 , pp. 63-69
    • Shapiro, A.C.1
  • 42
    • 84984455261 scopus 로고
    • "A Survey of Multinational Capital Budgeting"
    • Stanley, M.T. and S.B. Block, "A Survey of Multinational Capital Budgeting," Financial Review 19 (1984), pp. 36-54.
    • (1984) Financial Review , vol.19 , pp. 36-54
    • Stanley, M.T.1    Block, S.B.2
  • 44
    • 0001827923 scopus 로고    scopus 로고
    • "What's Wrong with Modern Capital Budgeting?"
    • Stulz, R.M., "What's Wrong with Modern Capital Budgeting?," Financial Practice and Education 9 (1999), pp. 7-11.
    • (1999) Financial Practice and Education , vol.9 , pp. 7-11
    • Stulz, R.M.1
  • 45
    • 0002853138 scopus 로고
    • "Bridging the Theory-Practice Gap in Corporate Finance: A Survey of Chief Financial Officers"
    • Trahan, E.A. and L.J. Gitman, "Bridging the Theory-Practice Gap in Corporate Finance: A Survey of Chief Financial Officers," Quarterly Review of Economics and Finance 35 (1995), pp. 73-87.
    • (1995) Quarterly Review of Economics and Finance , vol.35 , pp. 73-87
    • Trahan, E.A.1    Gitman, L.J.2
  • 46
    • 0342294382 scopus 로고
    • "Some New Views on the Payback Period and Capital Budgeting Decisions"
    • Weingartner, H.M., "Some New Views on the Payback Period and Capital Budgeting Decisions," Management Science 15 (1969), pp. 594-607.
    • (1969) Management Science , vol.15 , pp. 594-607
    • Weingartner, H.M.1
  • 48
    • 0000095552 scopus 로고
    • "A Heteroskedasticity-Consistent Covariance Matrix Estimator and Direct Test for Heteroskedasticity"
    • White, H., "A Heteroskedasticity-Consistent Covariance Matrix Estimator and Direct Test for Heteroskedasticity," Econometrica 48 (1980), pp. 817-838.
    • (1980) Econometrica , vol.48 , pp. 817-838
    • White, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.