Abstract
The traditional model of international investment is for a parent company to make an equity investment in a wholly-owned (about 50 per cent of all investments) or partially-owned foreign subsidiary, perhaps supplementing this with guarantees so that the subsidiary can have access to local capital markets for additional term and working capital.
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Notes
Fora description of oil industry financial issues, see Norman A. White (ed.) Financing the International Petroleum Industry (London: Graham & Trotman, 1977).
For a further guide to investment appraisal, see David B. Hertz, ‘Risk analysis in capital investment’, Harvard Business Review (January–February 1964).
For further details see ‘Banking structures and sources of finance in the Middle East’, The Banker Research Unit/Financial Times Ltd (June 1975).
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© 1981 Douglas Wood and James Byrne
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Wood, D., Byrne, J. (1981). Project Finance. In: International Business Finance. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-03120-7_10
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DOI: https://doi.org/10.1007/978-1-349-03120-7_10
Publisher Name: Palgrave Macmillan, London
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