Restructuring 'Korea Inc.': Financial Crisis, Corporate Reform, and Institutional Transition (Routledgecurzon Studies in the Growth Economies of Asia, 42)

Book Description

The 1997 South Korean financial crisis not only shook the country itself but also sent shock waves through the financial world at large. This impressive book critically assesses the conventional wisdom surrounding the Korean crisis and the performance of the IMF-sponsored reform programme.
Looking first at the strengths and weaknesses of 'Korea Inc.' in comparison with other East Asian countries, the authors describe the challenges faced by Korea in the 1990s due to the acceleration of globalization. By arguing that the transition attempted by Korea was badly conceived and ill designed, Restructuring 'Korea Inc.' focuses on corporate reform after the crisis that has led to the running up of huge 'transition costs'.
This snappy, informative and readable book has a broad historical overview and with its suggestions for structural change for Korea. This book is an important contribution not only to Asian studies, but also to the study of financial crises and the political economy of economic reform.

Customer Reviews:

Please, do not publish my previous review........2003-08-26

Dear friends,

Please, for personal reasons, do not publish the previous review of this book even though you can keep the 5 star rate. Many thanks, Gilmar

Excelent review of the Korean Crisis.......2003-08-26

To everybody that enjoy reading the Stiglitz complains about the IMF mismanagement of country's financial crisis Restructuring Korea Inc. is a better analytical and empirical documented evidence of it. According to the authors much of the Korean crisis was due to the dismantle of the Korean Inc. by the Kim's goverments and the IMF without having a new model to put in place. One of the main thesis of the book is that the Korean economy recovered despite the IMF programme, not because of it. Excellent reading to everybody in the government and private sector of developing countries that did not have a clear picture about "What Happened to Asia" and are still afraid of the possible and probable coming new crisis.

Book Description

This digital document is a journal article from Journal of Multinational Financial Management, published by Elsevier in 2006. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
This study examines the change in foreign currency exposure of US-based multinational corporations (MNCs) upon implementation of SFAS 133-Disclosure of Derivative Instruments. We attempt to answer the question of whether this accounting requirement, which seeks to eliminate earnings surprises associated with derivatives, actually impacts earnings volatility and hedging strategies of exporting firms. Our results indicate that firms who were hedged prior to SFAS 133, i.e., those which managed their exposure using operational hedges, derivatives, or both, were able to decrease exposure to exchange rates following SFAS 133. However, those that were hedged prior to SFAS 133 and remained hedged following SFAS 133 did so without significantly changing their imbalances, i.e., without using operational hedges. These firms also experienced an increase in earnings volatility and a decrease in earnings predictability, as predicted by critics of the regulation. However, market value does not change following SFAS 133, implying that investors do not equate accounting regulation changes and EPS volatility with changes in cash flow.

Foreign debt and financial hedging: Evidence from Australia [An article from: International Review of Economics and Finance]

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Foreign debt and financial hedging: Evidence from Australia [An article from: International Review of Economics and Finance]
H. Nguyen , and R. Faff
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital

Elsevier | By Publisher | e-Docs | Formats | Books
ASIN: B000RR86ZW

Book Description

This digital document is a journal article from International Review of Economics and Finance, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
We investigate the role of foreign currency denominated debt (FCDD) as a natural hedging instrument using a sample of Australian firms. Our results show that the incidence of foreign debt use among industrial sector firms is associated with a lower level of exchange rate exposure. The practice of issuing foreign debt within the industrial sector also conforms better to the hypothesis that firms do so to satisfy a demand for hedging. In contrast, although the incidence of foreign debt issues is higher in the resource/mining sector, the underlying motive for such arises from a demand for financing.

Foreign exchange exposure of exporting and importing firms [An article from: Journal of Banking and Finance]

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Foreign exchange exposure of exporting and importing firms [An article from: Journal of Banking and Finance]
M.D. Pritamani , D.K. Shome , and V. Singal
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital

Elsevier | By Publisher | e-Docs | Formats | Books
ASIN: B000RR11UO

Book Description

This digital document is a journal article from Journal of Banking and Finance, published by Elsevier in 2004. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
The existing literature reports insignificant `total' exposure for multinational or exporting firms, where total exposure incorporates both firm-specific and macroeconomic effects. We propose a dual-effect hypothesis to explain this result which seemingly contradicts conventional wisdom. According to our proposed hypothesis, firms are affected by both the domestic economy and foreign markets. These effects are at least partially offsetting for exporters and additive for importers. The resulting predictions of insignificant total exposure for exporters and positive total exposure for importers are borne out in our tests. The literature also reports insignificant `residual' exposure for multinationals or exporting firms, where residual exposure estimates the firm-specific exposure. This result is explained by biases in the residual exposure estimates introduced by the choice of the value-weighted market index as the control portfolio. We propose an equally-weighted portfolio of purely domestic firms as an alternative portfolio to reduce such biases and report significantly negative exposure for exporters and significantly positive exposure for importers, as predicted by theory.

Hedging Currency Exposure (Currency Risk Management Series)

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Hedging Currency Exposure (Currency Risk Management Series)
Brian Coyle , and Alastair Graham
Manufacturer: AMACOM
ProductGroup: Book
Binding: Hardcover

Money & Monetary Policy | Economics | Business & Investing | Subjects | Books

Foreign Exchange | Finance | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books
ASIN: 0814406165

Book Description

Topics include: the nature of currency exposure, basic hedging strategies and techniques, determining currency exposure and risk, evaluation of risk, and applications to correcting currency exposure.

Hedging Currency Exposures: Currency Risk Management (Risk Management Series)

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Hedging Currency Exposures: Currency Risk Management (Risk Management Series)

Manufacturer: Global Professional Publishing
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

Money & Monetary Policy | Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Risk Assessment | Management & Leadership | Business & Investing | Subjects | Books
ASIN: 0852974388

Book Description

· Fully updated version of text formerly used for training by BPP
· Diagrammatic representation of deal structures, pricing, and modeling
· Full glossary of terms
· International perspective, examples in US$
· Clear logical explanation of processes, markets, and products

This manual explains the techniques for identifying and covering exposure to adverse movements in foreign exchange rates. It provides practical examples of transaction, translation, and economic risk and shows how a hedging strategy can be arrived at. The hedging strategy will depend upon whether the attitude to risk is adverse, seeking, or neutral. This book examines these attitudes in turn and compares these hedging methods through worked examples. Also included is an analysis of accounting and tax implications.

This expansive new range of risk management texts has undergone extensive re-writing to give each book in the series an international perspective. Each explains and analyses core aspects of risk assessment and management in a way invaluable to students and useful to practitioners. All of these titles adopt a practical and clear approach to their subject. All are fully updated versions of a series of books previously produced by training experts at BPP.

Optimal bidding and hedging in international markets [An article from: Journal of International Money and Finance]

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Optimal bidding and hedging in international markets [An article from: Journal of International Money and Finance]
D. Lien , and K.P. Wong
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital
ASIN: B000RQY9WM

Book Description

This digital document is a journal article from Journal of International Money and Finance, published by Elsevier in 2004. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
This paper examines the optimal bidding and hedging decisions of a risk-averse contractor for a construction project abroad. We show that currency options play no role as a hedging instrument when the contractor has a quadratic utility function. However, if the contractor is prudent, currency options are used for hedging purposes. Prudence thus generates a hedging demand for currency options when foreign exchange exposure is uncertain. Contrary to the conventional wisdom, we show that currency hedging may have perverse effects on the contractor's bidding behavior. In a canonical example with negative exponential utility functions, we demonstrate that the possibilities for the contractor to bid more aggressively in the absence of currency hedging are not factitious.

Currency exposure and hedging of the MNC (Working paper / Salomon Brothers Center for the Study of Financial Institutions)

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Currency exposure and hedging of the MNC (Working paper / Salomon Brothers Center for the Study of Financial Institutions)
Clas Wihlborg
Manufacturer: New York University, Graduate School of Business Administration
ProductGroup: Book
Binding: Unknown Binding

General | International | Business & Investing | Subjects | Books

Exchange rate exposure, hedging, and the use of foreign currency derivatives (Working paper series / New York University, Salomon Center)

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Exchange rate exposure, hedging, and the use of foreign currency derivatives (Working paper series / New York University, Salomon Center)
George Allayannis
Manufacturer: New York University Salomon Center, Leonard N. Stern School of Business
ProductGroup: Book
Binding: Unknown Binding

Foreign Exchange | Finance | Business & Investing | Subjects | Books
ASIN: B0006QHG1O

A portfolio analysis of risks and returns in managing foreign currency exposure

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A portfolio analysis of risks and returns in managing foreign currency exposure
Michel Henri Rouilleault
ProductGroup: Book
Binding: Unknown Binding

Foreign Exchange | Finance | Business & Investing | Subjects | Books
ASIN: B0007AS7WG

Book Description

Offers tens of thousands of pieces of valuable information on e-commerce. Contact names, phone numbers, web addresses, physical addresses, financials & much much more have been gathered from a wide variety of sources, this information has been researched & presented in a unique form that can be easily understood by readers who have little or no business background. We've identified, researched & profiled over 330 major companies that were operating at significant levels of revenues & services provided, as of the end of the third quarter of 1999. Also provided are full 1998 & 1999 financial results for most of the firms featured in "The E-Commerce & Internet 300," the unique grouping of the biggest, most successful corporations in all segments of the E-Commerce & Internet Business. This section includes thorough indexes by geography, industry, brand names, subsidiary names & other topics.

Book Description

Be your own boss -- easily, efficiently and successfully -- with this bestseller!

Whether you're an independent contractor, freelancer, or consultant, it all adds up to the same thing: You need to be more aware of laws and taxes than the average person.

Fortunately, Working for Yourself provides all the information you need to stay on top of it all. An independent contractor himself, Stephen Fishman shows you everything you need to know to:

*meet business start-up requirements *pick a business structure *set up home or outside offices *obtain permits and licenses *price your services or products *comply with strict IRS rules *establish sound business relationships *avoid unfair contracts *draft good agreements *keep good records *get paid in full and on time *and much, much more

The 6th edition is completely revised to provide the up-to-date information you need, including the most current tax rates and changes in the law.

Whether you already work for yourself or are thinking about making the move, Working for Yourself will help make sure you do it right.

Download Description

"Be your own boss -- easily, efficiently and successfully -- with this bestseller! Whether you're an independent contractor, freelancer, or consultant, it all adds up to the same thing: You need to be more aware of laws and taxes than the average person. Fortunately, Working for Yourself provides all the information you need to stay on top of it all. An independent contractor himself, Stephen Fishman shows you everything you need to know to: -meet business start-up requirements -pick a business structure -set up home or outside offices -obtain permits and licenses -price your services or products -comply with strict IRS rules -establish sound business relationships -avoid unfair contracts -draft good agreements -keep good records -get paid in full and on time -and much, much more The 6th edition is completely revised to provide the up-to-date information you need, including the most current tax rates and changes in the law. Whether you already work for yourself or are thinking about making the move, Working for Yourself will help make sure you do it right. List of Forms Asset Log Expense Journal Income Journal Invoice General Independent Contractor Agreement Contract Amendment Nondisclosure Agreement "

Customer Reviews:

Very Helpful Book.......2007-01-16

I purchased the book since my employer explained that I will become an independent contractor for 2007. The book explained everything about being a contractor and how to stay in line with paying the taxes, how to protect my self employed status, what deductions I can take, and what forms and agreements I should use. I found it very informative and would recommend it to anyone who wants to understand the world of self employment.

All the legal tips, tricks and traps explained.......2006-04-20

Plenty of books impart the basics of how to work independently - but too few include all the legal tips, tricks and traps involved. WORKING FOR YOURSELF: LAW & TAXES FOR INDEPENDENT CONTRACTORS, FREELANCERS & CONSULTANTS covers everything from setting appropriate fees and understanding how and when taxes are paid to limiting liability and getting paid. Record-keeping processes are simplified with sample logs and entry advice, chapters on how the IRS defines an independent contractor versus a paid employee are essential keys to keeping independent status, and advice on pricing and insurance offer key strategy-oriented tips and approaches. A 'must' for any who would work independently.

Great straghtforward information and advice.......2005-09-17

I recently a started an S corp for my software contracting. The book is helpful and worth the price. It won't answer EVERY question you will have, but you probably should talk to a CPA for those anyway.

Another Nolo Press Winner.......2005-07-28

My husband is an independent photographer, so the Nolo Press books are great for him, geared as they are to all those wishing to handle all the paperwork for themselves, instead of the usual array of lawyers, accountants, etc. He keeps it as a reference book and can easily turn to whatever subject he needs more information on. Well-written and easy to understand, as are all Nolo books, these books are wonderful to review periodically.

Straighforward intro to the legal aspects of freelancing.......2004-05-04

A potential employer asked that I incorporate my freelancing business before they start sending me jobs. I wanted to do some research on the pros/cons of incorporating, what kind of start-ups costs this would entail, and what kind of corporation I should be. At first, the whole process of incorporating sounded like a huge money burden on my part--with filing fees and taxes--but this book has helped me sort out the issues and provided detailed information about the different ways to incorporate--sole proprietorship, LLC, S-corps. Although I haven't yet decided which path I will take, this book has made the jump to freelancing, and self-incorporating, less scary.

Book Description

This book analyzes family work strategies among Southeast Asian refugees who entered the United States between 1989 and 1994. Increasing the number of multiple wage-earners in refugee households has been an important focal point of American policy for promoting refugee self-sufficiency. Research indicates the importance of adult children among refugee households, as either secondary earners or alternative wage-earners to the unemployed heads of the household. Their labor force participation and employment rates are higher than those of household heads. These findings are most striking for refugee households which contain unmarried adult children, indicating impressive economic contributions of extended families or non-nuclear family members.
Findings also indicate that fewer children in the household, a larger portion of English-fluent household members, and initial placement outside California are all significantly related to the incidence of multiple wage-earners in Southeast Asian refugee households. The absence of children and the proportion of English-fluent household members are more significant in generating additional wage-earners than in producing one earner in the household.

Average customer rating:
Business Rankings Annual Cumulative Index 1989-2002: Includes References to All Listings in Fourteen Editions of Business Rankings Annual (Business Rankings Annual Cumulative Index)

Manufacturer: Thomson Gale
ProductGroup: Book
Binding: Hardcover

Company Profiles | Biography & History | Business & Investing | Subjects | Books
General | Reference | Subjects | Books
ASIN: 0787640263

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