Book cover for Leadership in International Business Education and Research
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Research in Global Strategic Management
Leadership in International Business Education and Research
Edited by
Alan M. Rugman
Alan M. Rugman
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Author and Other Information
Emerald Group Publishing Limited
Volume
8
DOI:
https://doi.org/10.1016/S1064-4857(2003)8
ISBN electronic:
978-1-84950-224-5
ISBN print:
978-0-76231-038-8
Series ISSN:
1064-4857
Publication date:
2003
Book Chapter

THE EFFECT OF GLOBAL FINANCIAL MARKETS ON BUSINESSES

By
Utpal Bhattacharya;
Utpal Bhattacharya
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Catherine Bonser-Neal
Catherine Bonser-Neal
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Author and Other Information
Utpal Bhattacharya
Catherine Bonser-Neal
© Emerald Group Publishing Limited
2003
Doi:
https://doi.org/10.1016/S1064-4857(03)08011-2
  • Published:
    2003
© Emerald Group Publishing Limited
2003

This paper reviews the theory and evidence on the effects of globalization of financial transactions on businesses. Two important benefits are identified. First, globalization reduces a company’s cost of capital. Second, globalization improves corporate governance so that manager actions are better aligned with shareholder interests. This improvement in corporate governance further contributes to a reduction in a firm’s cost of capital.

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