Multinational Financial Management, EMEA Edition
Höfundar: Alan C. Shapiro, Paul Hanouna
5.890 kr.
Lýsing:
The eleventh edition of Multinational Financial Management is a comprehensive survey of the essential areas of the international financial market environment, including foreign exchange and derivative markets, risk management, and international capital markets and portfolio investment. Designed for upper-level undergraduate and masters-level courses in international finance and management, this textbook offers readers a conceptual framework for analyzing key financial decisions of multinational firms.
The authors both explain and simplify multinational financial management by illustrating how its basic principles share the same foundation as domestic corporate finance. Assuming no prior knowledge of international economics or finance, this substantially revised new edition builds upon the fundamental principles of domestic financial management to examine the unique dimensions of international finance.
Readers are presented with a solid theoretical knowledgebase for examining decision problems, as well as practical analytical techniques that clarify the often-ambiguous guidelines used by international financial executives. All the traditional areas of corporate finance are explored from the perspective of a multinational corporation, focusing on elements rarely encountered in domestic finance such as multiple currencies, segmented capital markets, and political risks of nationalization or expropriation.
Annað
- Höfundar: Alan C. Shapiro, Paul Hanouna
- Útgáfa:11
- Útgáfudagur: 01/2020
- Hægt að prenta út 10 bls.
- Hægt að afrita 2 bls.
- Format:ePub
- ISBN 13: 9781119675914
- Print ISBN: 9781119668855
- ISBN 10: 111967591X
Efnisyfirlit
- COVER
- LIST OF FIGURES
- LIST OF TABLES
- PREFACE
- WORLD CURRENCIES AND SYMBOLS
- ACRONYMS AND SYMBOLS
- PART I: THE INTERNATIONAL FINANCIAL MANAGEMENT ENVIRONMENT
- CHAPTER 1: INTRODUCTION: MULTINATIONAL CORPORATIONS AND FINANCIAL MANAGEMENT
- 1.1 THE RISE OF THE MULTINATIONAL CORPORATION
- 1.2 THE INTERNATIONALIZATION OF BUSINESS AND FINANCE
- 1.3 MULTINATIONAL FINANCIAL MANAGEMENT: THEORY AND PRACTICE
- 1.4 OUTLINE OF THE BOOK
- QUESTIONS
- APPENDIX: THE ORIGINS AND CONSEQUENCES OF INTERNATIONAL TRADE
- QUESTIONS
- NOTES
- CHAPTER 2: THE DETERMINATION OF EXCHANGE RATES
- 2.1 SETTING THE EQUILIBRIUM SPOT EXCHANGE RATE
- 2.2 EXPECTATIONS AND THE ASSET MARKET MODEL OF EXCHANGE RATES
- 2.3 THE FUNDAMENTALS OF CENTRAL BANK INTERVENTION
- 2.4 THE EQUILIBRIUM APPROACH TO EXCHANGE RATES
- 2.5 DISEQUILIBRIUM THEORY AND EXCHANGE RATE OVERSHOOTING
- 2.6 CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 3: THE INTERNATIONAL MONETARY SYSTEM
- 3.1 ALTERNATIVE EXCHANGE RATE SYSTEMS
- 3.2 A BRIEF HISTORY OF THE INTERNATIONAL MONETARY SYSTEM
- 3.3 THE EUROPEAN MONETARY SYSTEM AND MONETARY UNION
- 3.4 EMERGING MARKET CURRENCY CRISES
- 3.5 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 4: PARITY CONDITIONS IN INTERNATIONAL FINANCE AND CURRENCY FORECASTING
- 4.1 ARBITRAGE AND THE LAW OF ONE PRICE
- 4.2 PURCHASING POWER PARITY
- 4.3 THE FISHER EFFECT
- 4.4 THE INTERNATIONAL FISHER EFFECT
- 4.5 INTEREST RATE PARITY THEORY
- 4.6 THE RELATIONSHIP BETWEEN THE FORWARD RATE AND THE FUTURE SPOT RATE
- 4.7 CURRENCY FORECASTING
- 4.8 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 5: THE BALANCE OF PAYMENTS AND INTERNATIONAL ECONOMIC LINKAGES
- 5.1 BALANCE-OF-PAYMENTS CATEGORIES
- 5.2 THE INTERNATIONAL FLOW OF GOODS, SERVICES, AND CAPITAL
- 5.3 COPING WITH THE CURRENT-ACCOUNT DEFICIT
- 5.4 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 1: INTRODUCTION: MULTINATIONAL CORPORATIONS AND FINANCIAL MANAGEMENT
- CHAPTER 6: THE FOREIGN EXCHANGE MARKET
- 6.1 ORGANIZATION OF THE FOREIGN EXCHANGE MARKET
- 6.2 THE SPOT MARKET
- 6.3 THE FORWARD MARKET
- 6.4 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 7: CURRENCY FUTURES AND OPTIONS MARKETS
- 7.1 FUTURES CONTRACTS
- 7.2 CURRENCY OPTIONS
- 7.3 READING CURRENCY FUTURES AND OPTIONS PRICES
- 7.4 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- APPENDIX: OPTION PRICING USING BLACK-SCHOLES
- PROBLEMS
- APPENDIX: PUT-CALL OPTION INTEREST RATE PARITY
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 8: CURRENCY, INTEREST RATE, AND CREDIT DERIVATIVES AND SWAPS
- 8.1 INTEREST RATE AND CURRENCY SWAPS
- 8.2 INTEREST RATE FORWARDS AND FUTURES
- 8.3 STRUCTURED NOTES
- 8.4 CREDIT DEFAULT SWAPS
- 8.5 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCE
- NOTES
- CHAPTER 9: MEASURING AND MANAGING TRANSLATION AND TRANSACTION EXPOSURE
- 9.1 ALTERNATIVE MEASURES OF FOREIGN EXCHANGE EXPOSURE
- 9.2 ALTERNATIVE CURRENCY TRANSLATION METHODS
- 9.3 TRANSACTION EXPOSURE
- 9.4 DESIGNING A HEDGING STRATEGY
- 9.5 MANAGING TRANSLATION EXPOSURE
- 9.6 MANAGING TRANSACTION EXPOSURE
- 9.7 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- APPENDIX: STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 52
- NOTES
- CHAPTER 10: MEASURING AND MANAGING ECONOMIC EXPOSURE
- 10.1 FOREIGN EXCHANGE RISK AND ECONOMIC EXPOSURE
- 10.2 THE ECONOMIC CONSEQUENCES OF EXCHANGE RATE CHANGES
- 10.3 IDENTIFYING ECONOMIC EXPOSURE
- 10.4 CALCULATING ECONOMIC EXPOSURE
- 10.5 AN OPERATIONAL MEASURE OF EXCHANGE RISK
- 10.6 MANAGING OPERATING EXPOSURE
- 10.7 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 11: INTERNATIONAL FINANCING AND NATIONAL CAPITAL MARKETS
- 11.1 CORPORATE SOURCES AND USES OF FUNDS
- 11.2 NATIONAL CAPITAL MARKETS AS INTERNATIONAL FINANCIAL CENTERS
- 11.3 DEVELOPMENT BANKS
- 11.4 PROJECT FINANCE
- 11.5 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 12: THE EUROMARKETS
- 12.1 THE EUROCURRENCY MARKET
- 12.2 EUROBONDS
- 12.3 NOTE ISSUANCE FACILITIES AND EURONOTES
- 12.4 EURO-COMMERCIAL PAPER
- 12.5 THE ASIACURRENCY MARKET
- 12.6 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 13: INTERNATIONAL PORTFOLIO MANAGEMENT
- 13.1 THE RISKS AND BENEFITS OF INTERNATIONAL EQUITY INVESTING
- 13.2 INTERNATIONAL BOND INVESTING
- 13.3 OPTIMAL INTERNATIONAL ASSET ALLOCATION
- 13.4 MEASURING THE TOTAL RETURN FROM FOREIGN PORTFOLIO INVESTING
- 13.5 MEASURING EXCHANGE RISK ON FOREIGN SECURITIES
- 13.6 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 14: COUNTRY RISK ANALYSIS
- 14.1 LEARNING OBJECTIVES
- 14.2 MEASURING POLITICAL RISK
- 14.3 ECONOMIC AND POLITICAL FACTORS UNDERLYING COUNTRY RISK
- 14.4 COUNTRY RISK ANALYSIS IN INTERNATIONAL LENDING
- 14.5 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 15: THE COST OF CAPITAL FOR FOREIGN INVESTMENTS
- 15.1 THE COST OF EQUITY CAPITAL
- 15.2 THE WEIGHTED AVERAGE COST OF CAPITAL FOR FOREIGN PROJECTS
- 15.3 DISCOUNT RATES FOR FOREIGN INVESTMENTS
- 15.4 THE COST OF DEBT CAPITAL
- 15.5 ESTABLISHING A WORLDWIDE CAPITAL STRUCTURE
- 15.6 VALUING LOW-COST FINANCING OPPORTUNITIES
- 15.7 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 16: CORPORATE STRATEGY AND FOREIGN DIRECT INVESTMENT
- 16.1 THEORY OF THE MULTINATIONAL CORPORATION
- 16.2 DESIGNING A GLOBAL EXPANSION STRATEGY
- 16.3 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
- CHAPTER 17: CAPITAL BUDGETING FOR THE MULTINATIONAL CORPORATION
- 17.1 BASICS OF CAPITAL BUDGETING
- 17.2 ISSUES IN FOREIGN INVESTMENT ANALYSIS
- 17.3 FOREIGN PROJECT APPRAISAL: THE CASE OF INTERNATIONAL DIESEL CORPORATION
- 17.4 POLITICAL RISK ANALYSIS
- 17.5 GROWTH OPTIONS AND PROJECT EVALUATION
- 17.6 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- APPENDIX: MANAGING POLITICAL RISKS
- NOTES
- CHAPTER 18: MANAGING THE INTERNAL CAPITAL MARKETS OF MULTINATIONAL CORPORATIONS
- 18.1 THE VALUE OF THE MULTINATIONAL FINANCIAL SYSTEM
- 18.2 INTERCOMPANY FUND-FLOW MECHANISMS: COSTS AND BENEFITS
- 18.3 DESIGNING A GLOBAL REMITTANCE POLICY
- 18.4 SUMMARY AND CONCLUSIONS
- QUESTIONS
- PROBLEMS
- REFERENCES
- NOTES
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- Gerð : 208
- Höfundur : 5845
- Útgáfuár : 2020
- Leyfi : 380
