Description
A focused, streamlined approach to creating a global financial management strategy.
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.
New to This Edition
Focus on today’s challenges: Three Points of Emphasis. This edition has been re-focused to highlight the management challenges faced by today’s business leaders and does so by emphasizing the following three points:
Organizations of all kinds. 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.
Emerging markets. Firms from all countries and markets are looking to the economic drivers of the global economy today–the emerging markets. These country markets present a multitude of specific risks, opportunities, and challenges for business and multinational finance.
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.
Provide students with enhanced information: Updated Features. This edition has:
Increased the clarity of principles and practices of the fundamentals of multinational finance.
Integrated emerging market content throughout, highlighting the promise and challenges of financial management in a global marketplace where the future likely rests with these countries and cultures.
A new chapter on the global credit crisis of 2007-2009, including how the financial crisis spread across the global financial markets.
12 new mini-cases, the majority of which are on emerging market business.
Get students straight to the point: New Streamlined Content. This edition provides students with merged and integrated chapters for a shorter text that gets them straight to the information they need to know. Specifics include:
Chapters on currency derivatives–futures, options, and swaps–have been combined.
Chapters on transaction and translation exposures–the traditional accounting based exposures in international finance–have been combined.
Chapters on the financial structures and capital sourcing strategies employed by multinational firms have been restructured and reorganized for a consolidated presentation.
Table of Contents PART I: GLOBAL FINANCIAL ENVIRONMENT Chapter 1. Current Multinational Challenges and the Global Economy Chapter 2. Financial Goals and Corporate Governance Chapter 3. The International Monetary System Chapter 4. The Balance of Payments Chapter 5. Current Multinational Financial Challenges: The Credit Crisis of 2207-2009 Part II: FOREIGN EXCHANGE THEORY AND MARKETS Chapter 6. The Foreign Exchange Market Chapter 7. International Parity Conditions Chapter 8. Foreign Currency Derivatives and Swaps PART III: FOREIGN EXCHANGE EXPOSURE Chapter 9. Foreign Exchange Rate Determination and Forecasting Chapter 10. Transaction and Translation Exposure Chapter 11. Operating Exposure PART IV: FINANCING THE GLOBAL FIRM Chapter 12. The Global Cost and Availability of Capital Chapter 13. Sourcing Equity and Debt Globally Chapter 14. Multinational Tax Management PART V: FOREIGN INVESTMENT DECISIONS Chapter 15. Foreign Direct Investment and Political Risk Chapter 16. Multinational Capital Budgeting and Cross-Border Acquisitions PART VI: Topics in International Finance
Chapter 17. Multinational Tax Management (Web Chapter)
Chapter 18. Working Capital Management (Web Chapter)
Chapter 19. International Trade Finance (Web Chapter)
Michael H. Moffett, Thunderbird - School of Global Management Arthur I. Stonehill, Oregon State University David K. Eiteman,University of California, Los Angeles