| Description |
1 online resource (73 pages) : illustrations |
| Series |
IMF working paper ; WP/09/242 |
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IMF working paper ; WP/09/242.
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| 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 |
| Bibliography |
Includes bibliographical references (pages 43-44) |
| Notes |
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 MiAaHDL |
|
English |
|
Print version record |
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digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Investments, Foreign -- Valuation -- Econometric models
|
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Corporations -- Valuation -- Econometric models
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Investment analysis -- Econometric models
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Corporations -- Valuation -- Econometric models
|
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Investment analysis -- Econometric models
|
| Form |
Electronic book
|
| Author |
Damgaard, Jannick, author.
|
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Elkjaer, Thomas, author.
|
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International Monetary Fund. Statistics Department
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| ISBN |
1451918062 |
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9781451918069 |
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1462397123 |
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9781462397129 |
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1282844423 |
|
9781282844421 |
|
1451873891 |
|
9781451873894 |
|
1452776296 |
|
9781452776293 |
|
9786612844423 |
|
6612844426 |
|
