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Library | Item Barcode | Call Number | Material Type | Item Category 1 | Status |
|---|---|---|---|---|---|
Searching... | 30000010160494 | HD62.4 K87 2007 | Open Access Book | Book | Searching... |
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Summary
Summary
Now that globalization is a reality and cross-border is no longer a discretionary activity, companies need reliable tools to manage the risks associated with doing business around the world. This title is a relevant, practical addition to risk management literature. This book will help readers think about their global business differently, manage them effectively, and develop ways to forecast in which areas they might get into trouble. To support the book there will be an internet-based tool that offers up-to-date risk information by country. This title is the right mix of important new research and practical applicability for readers. It details the risks of doing business overseas and is as valuable to someone in Europe or Asia or in the US. Author, Kurtzman is well-known and respected in both academic and business circles.Since a systematic understanding of global risks is in its infancy, this book has the potential to be the definitive work that transforms the subject. It is packed with international companies including Sumitono Bank, Bre-X, Banco Ambrosiano, Parmalat, Royal Ahold, Barings Bank, Daiwa Securities, BCCI, Lloyd Aero Boliviano, Viacao Aerea, ChuoAoyama, Kanebo, Glo
Reviews 1
Choice Review
Kurtzman and Yago (both, Milken Institute) describe methods for assessing risk in doing business with other countries, based on transparency, or lack thereof, of five key country variables: corruption, the legal system, the economic environment, accounting, and regulation. They evaluate country risk using their Opacity Index, which assesses countries on these variables. Scores for 48 countries are provided; the average opacity score and scores for each variable are given for 2005. Data are based on interviews that were carried out with businesspeople at several institutions. Beginning chapters cover the risks of global business and the costs of opacity. They are followed by individual chapters on corruption, legal and enforcement issues, accounting, and country studies. The final chapter, "Why Opacity Matters," details the economic impact of greater transparency; for example, the cost of capital is lower in countries characterized by a low opacity score. Finally, they point out that the average opacity score is computationally simple and can be a useful policy tool for companies deciding where to do business, as well as for countries wanting to improve their transparency. For example, by removing some imperfections of the legal/regulatory system and sharpening the accounting system, countries can lower their opacity scores. Summing Up: Recommended. Upper-division undergraduate through professional collections. K. J. Constas Fayetteville State University
Table of Contents
| Preface and Acknowledgments | p. ix |
| Introduction | p. xiii |
| 1 Everyday Risks of Going Global | p. 1 |
| 2 The Costs of Opacity | p. 39 |
| 3 Corruption | p. 61 |
| 4 Legal and Enforcement Opacity | p. 83 |
| 5 Accounting Opacity | p. 107 |
| 6 Regulatory Opacity | p. 121 |
| 7 Applications of Clear for Business Success | p. 143 |
| 8 Country Risk | p. 155 |
| 9 Why Opacity Matters | p. 181 |
| Notes | p. 189 |
| Selected Bibliography | p. 199 |
| Index | p. 207 |
| About the Authors | p. 219 |
