Fundamentals of Multinational Finance
Tomorrow's business leaders will be expected to comprehend global markets and lead their organizations through a constantly changing global environment. By grounding concepts in the context of illuminating case studies and real-world examples, Fundamentals of Multinational Finance familiarizes students with the fundamental concepts and tools necessary to implement an effective global financial management strategy.This edition includes the many new financial management challenges faced by today's business leaders–while still providing students with a streamlined text that gets straight to the important concepts
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Table of Content
"Part 1. Global Financial Environment
1. Multinational Financial Management: Opportunities and Challenges
2. The International Monetary System
3. The Balance of Payments
4. Financial Goals and Corporate Governance
Part 2. Foreign Exchange Theory and Markets
5. The Foreign Exchange Market
6. International Parity Conditions
7. Foreign Currency Derivatives and Swaps
8. Foreign Exchange Rate Determination
Part 3. Foreign Exchange Exposure
9. Transaction Exposure
10. Translation Exposure
11. Operating Exposure
Part 4. Financing the Global Firm
12. The Global Cost and Availability of Capital
13. Raising Equity and Debt Globally
14. Multinational Tax Management
15. International Trade Finance
Part 5. Foreign Investment Decisions
16. Foreign Direct Investment and Political Risk
17. Multinational Capital Budgeting and Cross-Border Acquisitions"
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Salient Features
"This edition highlights the management challenges faced by today's business leaders by emphasizing the following three points:
· Organizations. Multinational enterprises (MNEs) apply to organizations of all kinds—the publicly traded, the privately held, the state-run, the state-owned organizations—all forms that permeate global business today.
· Markets. Country markets like that of China and India are no longer the sources of low-cost labor for global manufacturers. They are increasingly the focus for sales and growth of all firms, manufacturing and services, for earnings and growth. Although they may still be categorized as “emerging,” they are the economic drivers and primary challenges for global finance and global financial management.
· Financial leadership. The leaders of MNEs face numerous foreign exchange and political risks. These risks can be daunting, but they also present opportunities for creating value if properly understood. These opportunities and risks are most effectively understood in the context of the global business itself, and the ability of management to integrate the strategic and financial challenges that business faces."
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