Fundamentals of Corporate Finance (4th Edition) (Berk, DeMarzo & Harford, The Corporate Finance Series)
Fundamentals of Corporate Finance (4th Edition) (Berk, DeMarzo & Harford, The Corporate Finance Series)
4th Edition
ISBN: 9780134475561
Author: Jonathan Berk, Peter DeMarzo, Jarrad Harford
Publisher: PEARSON
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Chapter 23, Problem 6CC
Summary Introduction

International integrated market:

An international market can be referred to as an activity of buying or selling goods and services across all the countries of the world. When an investor has the liberty to exchange any amount of any currency at the spot or forward rates and also has the authority to purchase or sell any security in any amount in any country at its current market prices such an international capital market is an integrated market.

To determine:

The implication that internationally integrated capital markets have for the value of the same asset in different countries.

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