Book description
Deep coverage and rigorous examination of international corporate financeMultinational Finance offers an advanced exploration of international corporate finance concepts and operations. Despite its status as one of the most rigorous texts on the topic, this book remains accessible and readable without sacrificing depth of coverage. Sidebars, key terms, essays, conceptual questions, and problems with solutions help aid in the learning process, while suggested readings and PowerPoint handouts reinforce the material and offer avenues for further exploration. This new sixth edition includes Excel templates that allow students to use real-world tools in a learning environment, and the modular structure facilitates course customization to individual objectives, interests, and preparatory level. The emphasis is on the basics of financial management, but coverage includes unique chapters on treasury management, asset pricing, hedging, options, and portfolio management in addition to traditional finance topics.
International finance is a diverse field with myriad specialties and a vast array of possible interests. This book allows students to view the field through the lens of a financial manager with investment or financial options in more than one country to give them a practical feel for real-world application.
- Understand the nature and operations of international corporate finance
- Evaluate opportunities, costs, and risks of multinational operations
- See beyond the numbers and terminology to the general principles at work
- Learn the markets, currencies, taxation, capital structure, governance, and more
Comprehensive, adaptable, and rigorously focused, this book gives students a solid foundation in international corporate finance, as well as a sound understanding of the tools and mechanics of the field. Designed for MBA and advanced undergraduate courses, Multinational Finance provides the deep coverage so essential to a solid education in finance.
Table of contents
- Series Page
- Title Page
- Copyright
- Preface
- Acknowledgments
- About the Author
- Part One: The International Financial Environment
- Part Two: Derivative Securities for Financial Risk Management
-
Part Three: Managing the Risks of Multinational Operations
- Chapter 8: Multinational Treasury Management
- Appendix 8A: The Rationale for Hedging Currency Risk
- Chapter 9: Managing Transaction Exposure to Currency Risk
-
Chapter 10: Managing Operating Exposure to Currency Risk
- 10.1 Operating Exposures to Currency Risk
- 10.2 The Exposure of Shareholders' Equity
- 10.3 Managing Operating Exposures in the Financial Markets
- 10.4 Managing Operating Exposures Through Operations
- 10.5 Pricing Strategy and the Competitive Environment
- 10.6 Summary
- Key Terms
- Conceptual Questions
- Problems
- Further Reading
-
Chapter 11: Managing Translation Exposure and Accounting for Financial Transactions
- 11.1 Financial Accounting and Reporting Standards
- 11.2 The Current Rate Method of IAS 21 and ASC 830–30
- 11.3 Corporate Hedging of Translation Exposure
- 11.4 Accounting for Financial Market Instruments
- 11.5 Accounting, Disclosure, and Corporate Hedging Activities
- 11.6 Summary
- Key Terms
- Conceptual Questions
- Problems
- Further Reading
-
Part Four: Valuation and the Structure of Multinational Operations
- Chapter 12: Foreign Market Entry and Country Risk Management
- Chapter 13: Multinational Capital Budgeting
-
Chapter 14: Multinational Capital Structure and Cost of Capital
- 14.1 Capital Structure and the Cost of Capital
- 14.2 Valuation of a Foreign Project with the WACC
- 14.3 The Cost of Capital on Multinational Operations
- 14.4 Sources of Funds for Multinational Operations
- 14.5 The International Evidence of Capital Structure
- 14.6 Summary
- Key Terms
- Conceptual Questions
- Problems
- Further Reading
-
Chapter 15: Taxes and Multinational Corporate Strategy
- 15.1 The Objectives of National Tax Policy
- 15.2 Types of Taxation
- 15.3 Taxes and Organization Form
- 15.4 U.S. Taxation of Foreign-Source Income
- 15.5 Transfer Pricing and Tax Planning
- 15.6 Taxes and the Location of Foreign Assets and Liabilities
- 15.7 Summary
- Key Terms
- Conceptual Questions
- Problems
- Further Reading
-
Chapter 16: Real Options and Cross-Border Investment Strategy
- 16.1 Real Options and the Theory and Practice of Investment
- 16.2 Market Entry as a Simple Real Option
- 16.3 Uncertainty and the Value of the Option to Invest
- 16.4 Market Entry as a Compound Real Option
- 16.5 The Real Option Approach as Complement to NPV
- 16.6 Summary
- Key Terms
- Conceptual Questions
- Problems
- Further Reading
- Chapter 17: Corporate Governance and the International Market for Corporate Control
- Part Five: International Portfolio Investment and Asset Pricing
- Appendix: Useful Rules and Formulas
- Glossary
- End User License Agreement
Product information
- Title: Multinational Finance, 6th Edition
- Author(s):
- Release date: May 2016
- Publisher(s): Wiley
- ISBN: 9781119219682
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