Preface

As globalization is redefining the field of corporate finance, international finance is increasingly permeating most financial transactions, which in yesteryears were deemed to be strictly domestic transactions. In fact, it is very difficult to understand what is happening in capital markets without a firm grasp of currency markets, the investment strategies of sovereign wealth funds, carry trades, foreign exchange derivative products, and so forth. Similarly, project finance cannot be understood without a firm grasp of valuation concepts in a cross-border context. Indeed, international finance is now part and parcel of the basic literacy of any financial executive whether she or he is an investment banker, a treasurer, a CFO, a portfolio manager, or a loan officer. There is no hiding from international finance.

And yet the field of international finance textbooks is not terribly crowded, with the three or four leading titles showing signs of multiple editions fatigue. What is needed is a book offering a fresh perspective on international finance that transcends the boundaries of ethnocentric thinking and an overly U.S.-centric approach—a book that brings the fascinating and rapidly unfolding story of emerging capital markets and their daring multinationals in the mainstream of international finance. International Corporate Finance is purporting to be such a book.

WHAT MAKES THIS BOOK UNIQUE

There are several features that will set International Corporate Finance apart ...

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