National capital market as international centers 2

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NATIONAL CAPITAL MARKET AS INTERNATIONAL CENTERS 2. The Foreign Bank Market a. Extension of domestic markets b. Important funding source: Japanese banks for U.S. firms
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17 3. The Foreign Equity Market a. Cross listing internationally can 1.) diversify risk: diversified shareholder base 2.) increase potential demand: attracting new shareholders 3.) build base of global owners. 4). By listing on a US stock exchange, a foreign company is forced to meet US corporate governance, thus increase firm value
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18 DEVELOPMENT BANKS—NOT Examinable A. General Purpose founded by governments to help finance very large infrastructure projects
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19 DEVELOPMENT BANKS B. Types of Development Banks 1. World Bank Group includes a. International Bank for Reconstruction and Development b. International Development Association c. International Finance Corporation
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20 DEVELOPMENT BANKS B. Types of Development Banks (con’t) 2. Regional Development Banks finance industry, agricultural, and infrastructure projects 3. National Development Banks concentrate on a particular industry or region.
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