INTERNATIONAL MARKETING AND FINANCE- An Integrative Approach/ULUSLARARASI FİNANSMAN VE PAZARLAMA-Bütünsel Yaklaşım

BU KİTABIM ALMANYA’DA LUMBERT ACADEMIC PUBLISHING YAYINEVİ TARAFINDAN YAYINLANMIŞTIR. ARZU EDENLER BURADAN VEYA INTERNET ÜZERİNDEN TEMİN EDEBİLİRLER. KİTABIN İÇERİĞİ AŞAĞIDA TANITIM AMACIYLA VERİLMİŞTİR.   Dr. ŞAHİN KESİKMİNARE

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INTERNATIONAL MARKETING AND FINANCE

An Integrative Approach

First Printing, 2014

ISBN:978-3-659-64537-2

Publisher: Lambert Academic Publishing

http://www.lab-publishing.com

Dr. Sahin KESIKMINARE, holds An engineering degree (Eng B.Sc.) and Economy (Eco B.Sc.) after university educations in Turkey and Germany. After some business experience, he went on his education and obtained Master of Science (M.Sc.) degree from the universities in Turkey and in the United States and his Doctor of Natural Medicine (Dr. DNM) and Integrative Medicine (Dr. IMD) degrees from a university in the United States. He can speak Turkish, English, German and French.

Dr. Sahin Kesikminare, is also author of the flowing books;

  • From Floppy Politics to Political Art- Political Strategic Design and Implementation,
  • Risk Management in Large-Scale Investment Projects- Strategic Planning and Implementation,
  • Strategic Management in Companies- Strategic Design and Implementation,
  • Strategic Management in Large-Scale Projects- Strategic Design and Implementation,
  • Integrative Medical Approach to the Daily Medical Disorders,
  • English-Turkish Glossary of Idioms.

Dr. Kesikminare, as an expert in money and capital markets, strategic management, system engineer and integrative medical doctor, worked for the fore-coming private firms and public departments in Turkey and in the United States. He was also “strategic view” columnist at a newspaper.

My Sincere Acknowledgements

Apart from the efforts of someone, the success of any project depends largely on the encouragement and guidelines of many others. No one walks alone on the journey of life. This is just the time for me to thank those that continuously urged me to write a book while they joined me, walked beside me, and helped me along the way. If I name them here, this book and it’s pages will be seen as “thanks” to thousands of you who have helped make my life what is today. I wish to avail myself of this opportunity, express a sense of gratitude and love to all those who were not mentioned here for their inspiration along my life.

But I would wish to express my deep sense of gratitude to Prof. Dr. Mithat Çoruh, Prof. Dr. Ihsan Sezal, Undersecretary Murat Bayar, , Dr. Şevket Yirik, Dr. Uyanık Yıldırım, Dr. Nadir Bıyıkoğlu, , Dr. Necati Turan Uslu, Prof. Dr. Mark Dragan Smith, , Izzet Yürekli, Mustafa Çolak, Süleyman Özbakış,  Lawyer Ali Fikret Serim, Lawyer Hilmi Barlas, Mustafa Çolak, Cafer Kara, Mustafa Aydın, and Ömer Toker  for their inspirations, encouragements and vital contributions in my life.

But I feel obligeful to those having a special place in my life: Undersecretary and Ambassador Vahit Erdem, Undersecretary Prof. Dr. Ali Ercan, Dr. Veysel Yayan. Hüseyin Özeri. Nadi Köklü Mr. Herb Minix and Mr. Fegley for their sincere assistance during my experience at the big scale projects in Turkey and in the United States and Caribbean Islands and helping me when it is really needed.

I wish to express my sincere gratitude to Mr. Mahmut Karadağ and his dear family, for their warm love, inspiration and support at my early years of the university.

I am forever indebted to my beloved parents who sincerely devoted their time and service that boosted my self-esteem and taught me holistic responsibility, humility and how to value the lives, thoughts and expressions of others, how to care for and understand their needs. And my heartfelt thanks to my grandfather, my brothers, Vahap and Selahattin. They inspired, encouraged and fully supported me morally and spiritually in every trial that came my way.

And Finally, I want to presenet my heartfelt thanks to my family members who were always with me with their warm love, inspirations and encouragements. They were not at the forefront but having signitures under my present life.

To God of the all, I am always thankful for the strength that keeps all of us together in love and hope for the future.

Dr. Sahin KESIKMINARE

TABLE OF contents

FIGURES. 9

TABLES. 10

CHAPTER ONE.. 11

COMPARISON OF COUNTRIES FOR FOREIGN INVESTMENTS. 11

THE BASICS OF COUNTRY COMPARISON.. 11

BASIC COMPARISON FACTORS OF A COUNTRY.. 12

I.1          INTRODUCTIORY INFORMATION ABOUT COUNTRIES. 12

I.2          COMPARISON OF THE GEOGRAPHICAL LOCATIONS. 13

I.3          COMPARISON OF AGRICULTURE AND BIODIVERSITIES. 14

I.4          COMPARISON OF ENVIRONMENTAL ISSUES. 14

I.5          COMPARISON OF CLIMATES. 15

I.6          COMPARISON OF ECONOMY. 15

I.7          COMPARISON OF TURISM SECTORS. 19

I.8          COMPARISON OF INDUSTRIES. 20

I.9          COMPARISON OF TECHNOLOGY. 21

I.10        COMPARISON OF DEMOGRAPHY AND LABOR FORCE. 21

I.11        COMARISON OF HEALTH CARE. 25

I.12        COMPARISON OF SOCIAL WELFARE. 25

I.13        COMPARISON OF RELIGION.. 25

I.14        COMPARISON OF EDUCATION.. 26

I.15        COMPARISON OF CULTURES. 26

I.16        COMPARISON OF THE TRANSPORTATION.. 29

I.17        COMPARISON OF NATURAL RESOURCES. 31

I.18        COMPARISON OF ADMINISTRATION AND GOVERNMENT. 32

I.19        LEGAL SYSTEM AND LAW ENFORCEMENT. 33

I.20        COMPARISON OF THE COMMUNICATION.. 36

I.21        COMPARISON OF THE MILITARY FORCE. 37

I.22        COMPARISON OF THE HISTORICAL BACKGROUND.. 38

I.23        COMPARISON OF POLITICAL DEVELOPMENTS. 39

CHAPTER TWO.. 40

BASICS OF EVALUATION FOR COMPARISON.. 40

II.1         POLITICAL ENVIRONMENT. 40

II.2         ECONOMY. 46

II.3         PUBLIC FINANCE. 62

II.4         TAX DIFFERENTIALS. 62

II.5         RESTRICTED REMITTANCES. 62

II.6         EXCESSIVE REMITTANCE. 62

II.7         INTERNATIONAL TRADE AND FINANCIAL RISKS. 64

II.8         COUNTRY RISKS. 64

II.8.1        SOVEREIGN RISKS. 64

II.8.2        POLITICAL RISKS. 64

II.8.3        EXCHANGE RISKS. 65

II.8.4        RISK AND RETURN.. 66

II.8.5        CAPITAL BUDGETING.. 67

II.8.6        CURRENCY COMPETITIVENESS. 69

II.8.7        IMPORT INCOMPRESSIBILITY. 70

II.8.8        EXCHANGE RATES AND INVESTMENT DECISIONS. 70

II.8.9        PRICE LEVELS AND EXCHANGE RATES. 71

II.8.10      INTERNATIONAL PARITY CONDITIONS. 73

II.8.11      INPUTS FOR MULTINATIONAL PROJECTS. 77

II.8.12      ADJUSTING PROJECT ASSESSMENT FOR THE RISK. 82

II.8.13      COST OF CAPITAL ACROSS COUNTRIES. 83

II.9         COUNTRY DIFFERENCES IN THE COST OF DEBT. 84

II.10       DIFFERENCES IN THE RISK-FREE RATE. 84

II.11       DIFFERENCES IN THE RISK PREMIUM.. 85

II.12       COMPARATIVE COSTS OF DEBT ACROSS COUNTRIES. 86

II.13       COUNTRY DIFFERENCES IN THE COST OF EQUITY. 86

II.14       COMBINING THE COST OF DEBT AND EQUITY. 86

II.15       COST OF CAPITAL FOR ASSESSMENT OF THE PROJECTS. 87

II.16       MNC’S CAPITAL STRUCTURE DECISION.. 87

II.16.1      MNC’S ACCESS TO EARNINGS. 88

II.16.2      STOCK RESTRİCTİONS İN HOST COUNTRIES. 88

II.16.3      INTEREST RATES IN HOST COUNTRIES. 88

II.16.4      STRENGTH OF HOST COUNTRY CURRENCIES. 89

II.16.5      THE LAWS IN HOST COUNTRIES. 89

II.17       ROLES OF BANKING.. 90

II.18       LABOR AND SERVICE COSTS. 95

II.19       INFRASTRUCTURE. 96

II.20       LEGAL SYSTEM AND THE LAW ENFORCEMENT. 100

II.21       MEDIA & CULTURE. 101

CHAPTER THREE.. 104

APPROACHES TO THE COUNTRY RISK.. 104

III.1        LEVEL OF THE RISK. 105

III.1.1       CATAGORIES OF THE RISK. 105

III.1.1.1     MACRO ENVIRONMENTAL RISKS. 105

III.1.1.2     POLICY RISKS. 105

III.1.1.3     COMPETITIVE RISKS. 106

III.1.1.4     OPERATIONAL RISKS. 106

III.2        MARKET SELECTION.. 106

III.2.1       ECLECTIC THEORY. 108

III.2.2       INTEGRATED FRAMEWORK OF MARKET SELECTION.. 110

III.2.3       MARKET PENETRATION GRID.. 113

CHAPTER FOUR.. 116

DEVELOPING GLOBAL MARKET STRATEGY.. 116

IV.1        SELECTING FOREIGN MARKETS. 116

IV.2        DETERMINING MARKETING STRATEGY. 117

IV.3        DEVELOPING MARKETING PLANS. 118

IV.4        MAIN ADVANTAGES OF A FOREIGN COUNTRY. 119

CHAPTER FIFE.. 121

IMPORTANCE OF THE PROJECT.. 121

PREPERATION OF THE STRATEGIC PLANS. 121

CHAPTER SIX.. 123

STRENGHT-WEAKNESS-0PP0RTUNITY- THREAT ANALYSIS. 123

SWOT ANALYSIS. 123

VI.1        INTERACTION OF MARKETING AND FINANCIAL RISKS AGAINST COUNTRY RISKS. 126

VI.2        INTERACITON OF MARKETING AND FINANCIAL RISKS AGAINST PRODUCT RISKS. 145

BIBLIOGRAPHY.. 150

FIGURES

Figure 1 Risk-Return Diagram.. 66

Figure 2 Demand-Cost Relations. 112

Figure 3 Competition and Business Environment 112

TABLES

Table 1 Average Annual Growth Rate. 52

Table 2 Structure of Production. 53

Table 3 Labor Force and Labor Force Participation. 54

Table 4 Structure of Demand. 55

Table 5 Central Government Expenditure. 56

Table 6 Central Government Current Revenue. 57

Table 7 Growth of Merchandise Trade. 58

Table 8 Structure of Merchandise Exports. 59

Table 9 Balance of Payments and Revenues. 60

Table 10 Total External Debt 61

Table 11 Money and Interest Rates. 91

Table 12 Resource Flows. 92

Table 13 Total External Debt Ratios. 93

Table 14 Terms of Extended Debt Borrowing. 94

Table 15 Population and Labor Force. 95

Table 16 Infrastructure Indicators. 98

Table 17 Gender Comparison. 99

Table 18 Market Penetration Grid. 114

Table 20 Risk Comparison Chart of the Countries. 120

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