Corporate Strategies to Internationalise the Cost of Capital (Copenhagen Studies in Economics and Management , No 12)

The focus of this book is to illustrate successful strategies employed by Nordic firms to internationalize their cost of capital. Some of the case studies capture solutions for companies resident in highly regulated, segmented, and illiquid capital markets. Other case studies illustrate solutions for companies resident in the deregulated, nearly unsegmented capital markets of today. Managers of companies resident in emerging markets should find the first category of cases to be instructive models, whereas managers of companies resident in the OECD countries should find the latter category of companies more relevant for their current decisions. In addition to the case studies, the book analyses the transition of the Nordic markets from being highly regulated and segmented to becoming a well integrated part of the global equity market. This includes the interplay among managers, regulators, and investors. The book also shows how investors world-wide can benefit from portfolio investment in foreign stocks. It also illustrates the stock market's reaction to an announcement of an equity issue to be placed abroad. Finally, the book presents the conceptual foundation for a firm to internationalize its cost of capital. The book is of great interest to actors on financial markets but also useful in courses on finance and industrial organization. Furthermore, the content of the book is a research contribution. TABLE OF CONTENTS: Nordic Equity Markets in Transition The Role of Foreign and Domestic Investors Nordic Strategies to Internationalize the Cost of Capital While Maintaining Control Strategies of Danish corporations Strategies of Finnish corporations Strategies of Norwegian corporations Strategies of Swedish corporations Index