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Viewing report
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Determinants of Investment in Emerging Markets. Edition No. 1
VDM Publishing House, April 2009, Pages: 80
I analyze the impact of three institutional factors
(legal origin, perceived corruption level and
ownership structures) on the cash flow sensitivity of
investment in ten emerging markets (Hong Kong,
Indonesia, India, Korea, Malaysia, Philippines,
Singapore, Taiwan, Thailand and Turkey.). Common Law
origin countries and countries which reveal a low
level of perceived corruption indicate economically
and statistically lower sensitivities. The impact of
ownership is less conclusive, which is likely to be a
consequence of complex structure.
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