The paper identifies the key elements of the regulatory environment for business in Bulgaria, to serve as a research guide, while recognizing that the rapid development of new legislative, and regulatory procedures, are greatly needed, largely to meet the European Union's (EU) legal, and...

Middle income countries (MICs) are facing rapidly evolving development challenges as their economist mature and integrate into the global economy. As a group, the 86 MICs account for about one -- fifth of world output, and their per capita income has grown by almost 4 percent annually since...

Cover -- Contents -- Acknowledgments -- Review of Foreign Exchange Rates -- Chapter 1: Global Risk and Return -- Chapter 2: The International CAPM -- Chapter 3: Hurdle Rates for Overseas Operations -- Chapter 4: Converting Hurdle Rates and Expected Cash Flows Across Currencies -- Chapter 5:...

We review and clarify the role of foreign exchange (FX) rates in international capital budgeting and currency risk management. We show how the outcome of a net present value (NPV) analysis, from the perspective of the home currency, is affected by a misvalued current spot FX rate, or by a...