国际财务管理双语ppt9
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9-3 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Outline
A Statistical Perspective Market Structure, Trading Practices, and Costs International Equity Market Benchmarks i Shares MSCI Trading in International Equities Factors Affecting International Equity Returns
9-2 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Key Terms
Crowd trading 群体交易 Dealer market 交易商市场 Limit order 限价指令 Liquidity 流动性 Market order 市价指令 Over-the-counter (OTC) 场外交易 Primary market 初级市场 Secondary market 二级市场
Key Terms
Agency market 代理商市场 American depositary receipt(ADR) 美国存托凭
证 Ask price 卖出价 Bid price 买入价 Broker 经纪人 Continuous market 连续市场 Cross-listing 跨国上市
Country Markwk.baidu.comt or region capitalization( in
billion of dollars)
country
Market capitalization( in billion of dollars)
China
681
China’s 379 Taiwan
Korea
330
India
279
South
268
Africa
Brazil
235
Russia
231
Malaysia 168
Saudi Arabia 157
9-8 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
2003 Market capitalization of Equity Markets in selected developing countries
(2)Market Capitalization of Developing Countries
The other 10% is accounted for by the market capitalization of developing countries in “emerging markets”.
9-4 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
1.A Statistical Perspective
Market Capitalization of Developed Countries Market Capitalization of Developing
Latin America Asia Eastern Europe Mideast/Africa
Recently the growth rates in these emerging markets have been strong, but with more volatility than we have here at home.
INTERNATIONAL FINANCIAL
MANAGEMENT
Fourth Edition EUN / RESNICK
9-0 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
International Equity Markets
Almost 90% of the total market capitalization of the world’s equity markets is accounted for by the market capitalization of the developed world.
9-7 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Objective:
9
Chapter Nine
This chapter discusses both the primary and secondary equity markets throughout the world.
9-1 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
developed markets developing markets
9-6 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
(1)Market Capitalization of Developed Countries
Countries Measures of Liquidity Measures of Market Concentration
9-5 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Market capitalization: shares
Chapter Outline
A Statistical Perspective Market Structure, Trading Practices, and Costs International Equity Market Benchmarks i Shares MSCI Trading in International Equities Factors Affecting International Equity Returns
9-2 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Key Terms
Crowd trading 群体交易 Dealer market 交易商市场 Limit order 限价指令 Liquidity 流动性 Market order 市价指令 Over-the-counter (OTC) 场外交易 Primary market 初级市场 Secondary market 二级市场
Key Terms
Agency market 代理商市场 American depositary receipt(ADR) 美国存托凭
证 Ask price 卖出价 Bid price 买入价 Broker 经纪人 Continuous market 连续市场 Cross-listing 跨国上市
Country Markwk.baidu.comt or region capitalization( in
billion of dollars)
country
Market capitalization( in billion of dollars)
China
681
China’s 379 Taiwan
Korea
330
India
279
South
268
Africa
Brazil
235
Russia
231
Malaysia 168
Saudi Arabia 157
9-8 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
2003 Market capitalization of Equity Markets in selected developing countries
(2)Market Capitalization of Developing Countries
The other 10% is accounted for by the market capitalization of developing countries in “emerging markets”.
9-4 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
1.A Statistical Perspective
Market Capitalization of Developed Countries Market Capitalization of Developing
Latin America Asia Eastern Europe Mideast/Africa
Recently the growth rates in these emerging markets have been strong, but with more volatility than we have here at home.
INTERNATIONAL FINANCIAL
MANAGEMENT
Fourth Edition EUN / RESNICK
9-0 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
International Equity Markets
Almost 90% of the total market capitalization of the world’s equity markets is accounted for by the market capitalization of the developed world.
9-7 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Objective:
9
Chapter Nine
This chapter discusses both the primary and secondary equity markets throughout the world.
9-1 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
developed markets developing markets
9-6 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
(1)Market Capitalization of Developed Countries
Countries Measures of Liquidity Measures of Market Concentration
9-5 Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Market capitalization: shares