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.
KeywordsIncome Pyramid Malaysia Egypt Nigeria
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- 5.Fora description of oil industry financial issues, see Norman A. White (ed.) Financing the International Petroleum Industry (London: Graham & Trotman, 1977).Google Scholar
- 6.For a further guide to investment appraisal, see David B. Hertz, ‘Risk analysis in capital investment’, Harvard Business Review (January–February 1964).Google Scholar
- 14.For further details see ‘Banking structures and sources of finance in the Middle East’, The Banker Research Unit/Financial Times Ltd (June 1975).Google Scholar