Int'l_Investment_K49_HCMC

Int'l_Investment_K49_HCMC - 1 Slides by Pham Thi Mai...

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Unformatted text preview: 6/21/2011 1 Slides by Pham Thi Mai Khanh-FTU 1 I nstructor: Pham Thi Mai Khanh (M.A., LL.M.) INTERNATIONAL INVESTMENT 6/21/2011 Slides by Pham Thi Mai Khanh-FTU 2 COURSE STRUCTURE I. AN OVERVIEW OF INTERNATIONAL INVESTMENT II. FOREIGN DIRECT INVESTMENT C lic k t o b u y N O W ! P D F-X Ch an g e w w w .d o cu-tr ac k .c o m C lic k t o b u y N O W ! P D F-X Ch an g e w w w .d o cu-tr ac k .c o m 6/21/2011 2 Part I: AN OVERVIEW OF INTERNATIONAL INVESTMENT Slides by Pham Thi Mai Khanh-FTU 3 6/21/2011 6/21/2011 Slides by Pham Thi Mai Khanh-FTU 4 STRUCTURE I. The concepts of Investment, Foreign Investment and International Investment II. Taxonomy of International Financial Flows C lic k t o b u y N O W ! P D F-X Ch an g e w w w .d o cu-tr ac k .c o m C lic k t o b u y N O W ! P D F-X Ch an g e w w w .d o cu-tr ac k .c o m 6/21/2011 3 6/21/2011 Slides by Pham Thi Mai Khanh-FTU 5 It takes money to make money! INVESTMENT • You sacrifice something of value now, expecting to benefit from that sacrifice later. • in expectation that…. • “risk-return trade-off” Current resources (Capital) Future benefits Financial benefits Social benefits C lic k t o b u y N O W ! P D F-X Ch an g e w w w .d o cu-tr ac k .c o m C lic k t o b u y N O W ! P D F-X Ch an g e w w w .d o cu-tr ac k .c o m 6/21/2011 4 Investment • “An Investment is the current commitment of money or other resources in the expectation of reaping future benefits.” Z. Bodie, A. Kane and A. J. Marcus, Investments , 8 th edition, Mc Graw-Hill Irwin, 2009 • “A sum of money or other resources (including e.g. knowledge or time) spent with the expectation of getting a future return from it.” UNCTAD, Virtual institute teaching Material on ECONOMIC AND LEGAL ASPECTS OF FOREIGN DIRECT INVESTMENT , United Nations: New York and Geneva, 2010 Capital • Resources • Investible • Mobilization of capital • Invested capital C lic k t o b u y N O W ! P D F-X Ch an g e w w w .d o cu-tr ac k .c o m C lic k t o b u y N O W ! P D F-X Ch an g e w w w .d o cu-tr ac k .c o m 6/21/2011 5 3 approaches: (a) In macro-economics and national accounts: expenditure on new capital goods (goods that are not consumed but instead used in future production). Such investment is the source of new employment and economic growth. (b) In finance: investment refers to the purchase or ownership of a financial asset with the expectation of a future return either as income (such as dividends), or as capital gain (such as a rise in the value of the stock). (c) Legal definitions of investment: found in laws and legal agreements, focus on the issue of property, notwithstanding the productive or financial nature of the investment, unless specific limitations are made....
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Int'l_Investment_K49_HCMC - 1 Slides by Pham Thi Mai...

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