The paper tests three hypotheses concerning foreign equity investment in the presence of liquidity risk. First, the FDI …-to-FPI price differential is negatively related to liquidity risk (the "Price Discount Hypothesis"). The idea is that market …

We estimate the pricing of sovereign risk for sixty countries based on fiscal space (debt/tax; deficits/tax) and other … and economically important determinants of market-based sovereign risk. Although the explanatory power of fiscal space … emergence of TED spread as a key pricing factor. However, risk-pricing of the South-West Eurozone Periphery countries is not …

the world than many developing countries. A noteworthy feature of this theory is that financial and property rights …

and international trade in goods and securities.In our model, the world allocation of capital is governed, to some extent …, by the asset preferences of risk averse consumer-investors. In a one-good variant in the spirit of the MacDougall model … world of certaint and may hinge on the identity of the factor which is used intensively in the industry with random …

Disparity between control and ownership rights gives rise to the risk of tunneling by the controlling shareholder, and …