Multinational Business Finance, 12/e
Renowned for its authoritative, comprehensive coverage of contemporary international finance, this market-leading text 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 firm value, the authors have embedded real-world mini-cases throughout to apply chapter concepts to the types of situations managers of multinational firms face.
Table of Content
Part I: Global Environment
- Globalization and the Multinational Enterprise
- Financial Goals & Governance
- The International Monetary System
- The Balance of Payments
- Current Multinational Financial Challenges: Crisis
Part II: Foreign Exchange Theory and Markets
- The Foreign Exchange Market
- International Parity Conditions
- Foreign Currency Derivatives
- Interest Rate and Cross Currency Swaps
- Foreign Exchange Rate Determination & Forecasting
Part III: Foreign Exchange Exposure
- Transaction Exposure
- Operating Exposure
- Translation Exposure
Part IV: Financing the Global Firm
- The Global Cost and Availability of Capital
- Sourcing Equity Globally
- Sourcing Debt Globally
Part V: Foreign Investment Decisions
- International Portfolio Theory & Investment
- Foreign Direct Investment Theory & Strategy
- Multinational Capital Budgeting
Part VI: Managing Multinational Operations
- Multinational Tax Management
- Working Capital Management
- International Trade Finance
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Salient Features
- The unique managerial emphasis employs numerous embedded mini-cases to push students beyond a superficial understanding of abstract concepts. Students learn that a successful manager in a multinational enterprise not only needs to be able to recognize imperfections in national markets for products, factors of production and financial assets, but also to be able to make decisions about how to benefit from those imperfections.
- Exceptional currency of coverage keeps students abreast of contemporary issues and events, including financial management issues in emerging markets.
- An entire chapter is devoted to the political risk challenges faced by multinational enterprises across three corridors of exposure: firm-specific risk, country-specific risk, and global-specific risk.
- Spreadsheet examples, along with online templates, give students hands on practice with a key tool of the financial manager. Multinational Business Finance also offers the most end-of-chapter problems of any text on the market. Spreadsheet solutions are available for instructors.
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