Valuation of unlisted direct investment equity /

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Bibliographic Details
Author / Creator:Kumah, Emmanuel O., author.
Imprint:[Washington, D.C.] : International Monetary Fund, ©2009.
Description:1 online resource (73 pages) : illustrations
Language:English
Series:IMF working paper ; WP/09/242
IMF working paper ; WP/09/242.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12498384
Hidden Bibliographic Details
Other authors / contributors:Damgaard, Jannick, author.
Elkjaer, Thomas, author.
International Monetary Fund. Statistics Department.
ISBN:1451918062
9781451918069
1462397123
9781462397129
1282844423
9781282844421
1451873891
9781451873894
1452776296
9781452776293
9786612844423
6612844426
Digital file characteristics:text file
Notes:Includes bibliographical references (pages 43-44).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
Print version record.
Summary:This paper analyzes the seven valuation methods for unlisted direct investment equity included in the recently adopted IMF Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). Based on publicly available Danish data, we test the three methods that are generally applicable and find that the choice of valuation method and estimation technique can have a highly significant impact on the international investment position, pointing to the need for further harmonization. The results show that the price-to-book value method generates more robust market value estimates than the price-to-earnings method. This finding suggests that the valuation basis for the forthcoming Coordinated Direct Investment Survey - own funds at book value -will provide useful information for compiling the international investment position.
Other form:Print version: Kumah, Emmanuel O. Valuation of unlisted direct investment equity. [Washington, D.C.] : International Monetary Fund, ©2009

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