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Lecture International business (9e): Chapter 12 - Charles W.L. Hill

In this chapter, you will learn to explain the concept of strategy. Recognize how firms can profit by expanding globally. Understand how pressures for cost reductions and pressures for local responsiveness influence strategic choice. Identify the different strategies for competing globally and their pros and cons. Explain the pros and cons of using strategic alliances to support global strategies. | International Business 9e By Charles W.L. Hill McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 12 The Global Capital Market Why Do We Have Capital Markets? Capital markets bring together investors and borrowers investors - corporations with surplus cash, individuals, and non-bank financial institutions borrowers - individuals, companies, and governments markets makers - the financial service companies that connect investors and borrowers, either directly (investment banks) or indirectly (commercial banks) capital market loans can be equity or debt LO1: Describe the benefits of the global capital market. Who Are The Main Players in Capital Markets? The Main Players in a Generic Capital Market What Makes The Global Capital Market Attractive? Today’s capital markets are highly interconnected and facilitate the free flow of money around the world Borrowers benefit from the additional supply of funds global capital markets provide lowers the cost of capital Investors benefit from the wider range of investment opportunities diversify portfolios and lower risk How Have Global Capital Markets Changed Since 1990? Global capital markets have grown rapidly the stock of cross-border bank loans was just $3,600 billion in 1990, but $32,430 in 2010 the international bond market has grown from $3,515 billion in 1997 to $26,613 in 2010 international equity offerings were just $18 billion in 1990, but grew to $750 billion in 2009 The growth in the markets is a result of Advances in information technology Deregulation by governments LO2: Identify why the global capital market had grown so rapidly. What Are The Risks Of The Global Capital Markets? Question: Could deregulation of capital markets and fewer controls on cross-border capital flows make nations more vulnerable to the effects of speculative capital flows? can have a destabilizing effect on economies 2008-2009 global financial crisis Speculative capital flows may be the . | International Business 9e By Charles W.L. Hill McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 12 The Global Capital Market Why Do We Have Capital Markets? Capital markets bring together investors and borrowers investors - corporations with surplus cash, individuals, and non-bank financial institutions borrowers - individuals, companies, and governments markets makers - the financial service companies that connect investors and borrowers, either directly (investment banks) or indirectly (commercial banks) capital market loans can be equity or debt LO1: Describe the benefits of the global capital market. Who Are The Main Players in Capital Markets? The Main Players in a Generic Capital Market What Makes The Global Capital Market Attractive? Today’s capital markets are highly interconnected and facilitate the free flow of money around the world Borrowers benefit from the additional supply of funds global capital markets provide .