Multinational Financial Management, 9th Edition
by Alan C. Shapiro (University of Southern California)Edition: 9th
Format: Hardcover
Pub. Date: 2009-03-01
Publisher(s): WILEY
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Summary
As more businesses in today's economy are moving towards a global reach, it is essential for finance students to understand how the fundamentals of corporate finance relate to multinational firms. Shapiro's Multinational Financial Management 9 th Edition provides that conceptual framework within which key financial decisions of a multinational firm can be analyzed. The author's comprehensive approach is to treat international financial management as a natural extension of the principles learned in the first course in financial management. The book builds its coverage of international finance on the framework of valuation established by domestic corporate finance. It can be used in courses in International Financial Management and International Finance at the upper-level undergraduate or MBA level.
Author Biography
Dr. Alan C. Shapiro is the Ivadelle and Theodore Johnson Professor of Banking and Finance. Prior to joining USC in 1978, he was an Assistant Professor at the Wharton School of the University of Pennsylvania (1971-1978). He has also been a Visiting Professor at Yale University, UCLA, the Stockholm School of Economics, University of British Columbia, and the U.S. Naval Academy. His specialties are corporate and international financial management.
Table of Contents
| Environment of International Financial Management | |
| Introduction: Multinational Enterprise and Multinational Financial Management | |
| The Rise of the Multinational Corporation | |
| The Internationalization of Business and Finance | |
| Multinational Financial Management: Theory and Practice | |
| Outline of the Book | |
| The Origins and Consequences of International Trade | |
| The Determination Of Exchange Rates | |
| Setting the Equilibrium Spot Exchange Rate | |
| Expectations and the Asset Market Model of Exchange Rates | |
| The Fundamentals of Central Bank Intervention | |
| The Equilibrium Approach to Exchange Rates | |
| Summary and Conclusions | |
| The International Monetary System | |
| Alternative Exchange Rate Systems | |
| A Brief History of the International Monetary System | |
| The European Monetary System and Monetary Union | |
| Emerging Market Currency Crises | |
| Summary and Conclusions | |
| Parity Conditions in International Finance and Currency Forecasting | |
| Arbitrage and the Law of One Price | |
| Purchasing Power Parity | |
| The Fisher Effect | |
| The International Fisher Effect | |
| Empirical Evidence | |
| Interest Rate Parity Theory | |
| The Relationship Between the Forward Rate and the Future Spot Rate | |
| Currency Forecasting | |
| Summary and Conclusions | |
| The Balance of Payments and International Economic Linkages | |
| Balance-of-Payments Categories | |
| The International Flow of Goods, Services, and Capital | |
| Coping with the Current-Account Deficit | |
| Summary and Conclusions | |
| Country Risk Analysis | |
| Measuring Political Risk | |
| Economic and Political Factors Underlying Country Risk | |
| Country Risk Analysis in International Banking | |
| Summary and Conclusions | |
| Foreign Exchange and Derivatives Markets | |
| The Foreign Exchange Market | |
| Organization of the Foreign Exchange Market | |
| The Spot Market | |
| The Forward Market | |
| Summary and Conclusions | |
| Currency Futures and Options Markets | |
| Futures Contracts | |
| Currency Options | |
| Reading Currency Futures and Options Prices | |
| Summary and Conclusions | |
| Option Pricing Using Black-Scholes | |
| Put-Call Option Interest Rate Parity | |
| Swaps and Interest Rate Derivatives | |
| Interest Rate and Currency Swaps | |
| Interest Rate Forwards and Futures | |
| Structured Notes | |
| Summary and Conclusions | |
| Foreign Exchange Risk Management | |
| Measuring and Managing Translation and Transaction Exposure | |
| Alternative Measures of Foreign Exchange Exposure | |
| Alternative Currency Translation Methods | |
| Transaction Exposure | |
| Designing a Hedging Strategy | |
| Managing Translation Exposure | |
| Managing Transaction Exposure | |
| Summary and Conclusions | |
| Measuring and Managing Economic Exposure | |
| Foreign Exchange Risk and Economic Exposure | |
| The Economic Consequences of Exchange Rate Changes | |
| Identifying Economic Exposure | |
| Calculating Economic Exposure | |
| An Operational Measure of Exchange Risk | |
| Managing Operating Exposure | |
| Summary and Conclusions | |
| Financing the Multinational Corporation | |
| Chapt<$$$> | |
| Table of Contents provided by Publisher. All Rights Reserved. |
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