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Full Description
* Integrates economic and political factors underlying exchange rate determination. * Uses the balance-of-payments framework to assess economic links among nations. * Presents a comprehensive discussion of the foreign exchange market. * Discusses the key parity conditions in international finance that relate interest rates, exchange rates, and inflation rates, and the underlying arbitrage considerations that determine them-along with numerous real-world applications. * Presents distinctions between real and nominal exchange rates and between accounting and economic exposure and their significance for exchange risk management. * Provides a comprehensive discussion of the mechanisms multinational firms use to manage interaffiliate fund flows on a global basis. * Presents the underpinnings of financial markets and the implications for international capital flows. * Presents specialized financing and risk management techniques. * Discusses the assessment of the cost of capital for foreign investments. * Discusses the nature and consequences of international portfolio investment, including emerging market investments.* Presents the development of global strategies of multinational corporations. * Provides the means for analyzing foreign investments. * Covers political risk measurement and management. * Includes a number of distinctive pedagogical features including real-world examples, vignettes, illustrations, and hundreds of realistic end-of-chapter questions and problems.
Contents
Preface. 1. IntroductionFinancial Management. 2. The Determination of Exchange Rates. 3. The International Monetary System. 4. Parity Conditions in International Finance and Currency Forecasting. 5. The Balance of Payments and International Economic Linkages. 6. The Foreign Exchange Market. 7. Currency Futures and Options Markets. 8. Swaps and Interest Rate Derivatives. 9. Measuring and Managing Translation and Transaction Exposure. 10. Measuring and Managing Economic Exposure. 11. Country Risk Analysis. 12. International Financing and National Capital Markets. 13.International Portfolio Investment. 14. Capital Budgeting for the Multinational Corporation. 15. Financing Foreign Trade. 16. Managing the Multinational Financial System.
