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Full Description
Multinational Business Finance trains the leaders of tomorrow's multinational enterprises to recognize and capitalize on the unique characteristics of global markets. Because the job of a manager is to make financial decisions that increase a firm's value, the authors have embedded real-world mini-cases throughout, applying chapter concepts to the types of situations managers of real multinational firms encounter.
The 16th Edition attempts to capture the rapid evolution of our global marketplace. It takes a closer look at the types of organizations that permeate the widespread arena, competition and opportunities in emerging markets. It also examines how financial leadership can integrate the strategic and financial challenges that global businesses face today.
Contents
PART I: GLOBAL FINANCIAL ENVIRONMENT
1. Multinational Financial Management: Challenges and Opportunities
2. International Monetary System
3. The Balance of Payments
4. Financial Goals, Corporate Governance and the Market for Corporate Control
PART II: FOREIGN EXCHANGE THEORY AND MARKETS
5. The Foreign Exchange Market
6. International Parity Conditions
Appendix: An Algebraic Primer to International Parity Conditions
7. Foreign Currency Derivatives: Futures & Options
Appendix: Currency Option Pricing Theory
8. Interest Rate Risk and Swaps
9. Foreign Exchange Rate Determination & Intervention
PART III: FOREIGN EXCHANGE EXPOSURE
10. Transaction Exposure
Appendix A: Complex Option Hedges
Appendix B: The Optimal Hedge Ratio and Hedge Effectiveness
11. Translation Exposure
12. Operating Exposure
PART IV: FINANCING THE GLOBAL FIRM
13. Global Cost and Availability of Capital
14. Funding the Multinational Firm
15. Multinational Tax Management
16. International Trade Finance
PART V: FOREIGN INVESTMENTS AND INVESTMENT ANALYSIS
17. Foreign Direct Investment & Political Risk
18. Multinational Capital Budgeting and Cross-Border Acquisitions
Answers to select end-of-chapter problems