Determinants of Investment in Emerging Markets

I analyze the impact of three institutional factors
(legal origin, perceived corruption level and
ownership structures) on the cash flow sensitivity of
investment in ten emerging markets (Hong Kong,
Indonesia, India, Korea, Malaysia, Philippines,
Singapore, Taiwan, Thailand and Turkey.). Common Law
origin countries and countries which reveal a low
level of perceived corruption indicate economically
and statistically lower sensitivities. The impact of
ownership is less conclusive, which is likely to be a
consequence of complex structure.

Autorentext
Mag. Burak Evren
Ph.D. in International Business Administration, University of
Yeditepe, Istanbul, Turkey;
Bsc. and MSc. in Economics, University of Vienna, Austria. Major:
Industry Economics and Corporate Finance.
Occupation:Research Assistant, Department of Business
Administration, University of Yeditepe, Istanbul, Turkey