Cracking the Emerging Markets Enigma by G. Andrew KarolyiCracking the Emerging Markets Enigma by G. Andrew Karolyi

Cracking the Emerging Markets Enigma

byG. Andrew Karolyi

Hardcover | May 27, 2015

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Forward-thinking investors are constantly looking for the next BRIC - what foreign market is on the brink of expansive growth? Will these investments payoff, or are the potential risks too great? Investing in these emerging markets requires a careful analysis of potential risks and benefitswhich vary greatly from country to country and even from day to day. In Cracking the Emerging Markets Enigma, emerging markets expert Andrew Karolyi outlines a practical strategy for evaluating the opportunities and - more importantly - the risks of investing in emerging markets. Karolyi's proposed system evaluates multiple dimensions of the potential risks faced byprospective investors. These categories of risk reflect the uneven quality or fragility of the various institutions designed to assure integrity in capital markets-political stability, corporate opacity, limits placed on foreign investors, and more. By distilling these analyses into a numericalscoring system, Karolyi has devised a way to assess with ease emerging markets by different dimensions of risk and across all dimensions together. This novel assessment framework already has been tested in the market to great success. Researchers, students, firms, and both seasoned and novice investors are poised to gain a clear understanding of how to evaluate potential investments in emerging markets to maximize profits.
G. Andrew Karolyi is Professor of Finance at the Samuel Curtis Johnson Graduate School of Management at Cornell University. He consults for investments firms and teaches executive development courses to educate investors on portfolio management and emerging markets. He also currently serves as executive editor of the Review of Financia...
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Title:Cracking the Emerging Markets EnigmaFormat:HardcoverDimensions:312 pages, 9.25 × 6.12 × 0.98 inPublished:May 27, 2015Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199336628

ISBN - 13:9780199336623

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Table of Contents

PART I UNDERSTANDING THE RISKS IN EMERGING MARKETS1. Accepting the Challenge2. The Emerging Market Landscape3. A Primer on Empirical MethodologyPART II BUILDING THE EMERGING MARKETS RISK INDICATORS4. Market Capacity Constraints5. Operational Inefficiencies6. Foreign Accessibility Restrictions7. Corporate Opacity8. Limits to Legal Protections9. Political InstabilityPART III VALIDATING THE RISK INDICATORS10. Do the Emerging Market Risk Indicators Work?11. Making Sense of the Emerging Market Swoon of 2013PART IV THE EMERGING MARKETS ENIGMA CRACKED?12. Final Remarks and a Few CautionsData Appendixes

Editorial Reviews

"Andrew Karolyi certainly moved the ball forward in the direction of an enigma that, contrary to the British Bletchley in World War II, might never be completely cracked. It is quite an achievement and he initiated here a sizeable and useful progress, and he managed to make it eminentlyreadable." --Georges Ugeux, Chairman and CEO, Galileo Global Advisors