Multinational business finance / / David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett

• Autore: Eiteman David K.
• Pubblicazione: Boston : , : Pearson, , [2016]; ©2016
• Edizione: Fourteenth, global edition.
• Descrizione fisica: 1 online resource (618 pages)
• Disciplina: 658.1599
• Soggetto topico: International business enterprises - Finance
• Persona (resp. second.): StonehillArthur I.; MoffettMichael H.
• Note generali: Includes index.
• Nota di contenuto: Cover -- Title Page -- Copyright Page -- Preface -- Acknowledgments -- About the Authors -- Contents -- PART 1 Global Financial Environment -- Chapter 1 Multinational Financial Management: Opportunities and Challenges -- Financial Globalization and Risk -- The Global Financial Marketplace -- The Theory of Comparative Advantage -- What Is Different about International Financial Management? -- Market Imperfections: A Rationale for the Existence of the Multinational Firm -- The Globalization Process -- Summary Points -- MINI-CASE: Crowdfunding Kenya -- Questions -- Problems -- Internet Exercises -- Chapter 2 The International Monetary System -- History of the International Monetary System -- IMF Classification of Currency Regimes -- Fixed versus Flexible Exchange Rates -- A Single Currency for Europe: The Euro -- Emerging Markets and Regime Choices -- Globalizing the Chinese Renminbi -- Summary Points -- MINI-CASE: Iceland-A Small Country in a Global Crisis -- Questions -- Problems -- Internet Exercises -- Chapter 3 The Balance of Payments -- Fundamentals of BOP Accounting -- The Accounts of the Balance of Payments -- BOP Impacts on Key Macroeconomic Rates -- Trade Balances and Exchange Rates -- Capital Mobility -- Summary Points -- MINI-CASE: Global Remittances -- Questions -- Problems -- Internet Exercises -- Chapter 4 Financial Goals and Corporate Governance -- Who Owns the Business? -- The Goal of Management -- Publicly Traded versus Privately Held: The Global Shift -- Corporate Governance -- Summary Points -- MINI-CASE: Luxury Wars-LVMH vs. Hermès -- Questions -- Problems -- Internet Exercises -- PART 2 Foreign Exchange Theory and Markets -- Chapter 5 The Foreign Exchange Market -- Functions of the Foreign Exchange Market -- Structure of the Foreign Exchange Market -- Transactions in the Foreign Exchange Market. ; Size of the Foreign Exchange Market -- Foreign Exchange Rates and Quotations -- Summary Points -- MINI-CASE: The Venezuelan Bolivar Black Market -- Questions -- Problems -- Internet Exercises -- Chapter 6 International Parity Conditions -- Prices and Exchange Rates -- Interest Rates and Exchange Rates -- Forward Rate as an Unbiased Predictor of the Future Spot Rate -- Prices, Interest Rates, and Exchange Rates in Equilibrium -- Summary Points -- MINI-CASE: Mrs. Watanabe and the Japanese Yen Carry Trade -- Questions -- Problems -- Internet Exercises -- Appendix: An Algebraic Primer to International Parity Conditions -- Chapter 7 Foreign Currency Derivatives: Futures and Options -- Foreign Currency Futures -- Currency Options -- Option Pricing and Valuation -- Advanced Topic: Currency Option Pricing Sensitivity -- Summary Points -- MINI-CASE: KiKos and the South Korean Won -- Questions -- Problems -- Internet Exercises -- Appendix: Currency Option Pricing Theory -- Chapter 8 Interest Rate Risk and Swaps -- Interest Rate Foundations -- Interest Rate Risk -- Interest Rate Futures and FRAs -- Interest Rate Swaps -- Cross-Currency Swaps -- Summary Points -- MINI-CASE: Argentina and the Vulture Funds -- Questions -- Problems -- Internet Exercises -- Chapter 9 Foreign Exchange Rate Determination -- Exchange Rate Determination: The Theoretical Thread -- Currency Market Intervention -- Disequilibrium: Exchange Rates in Emerging Markets -- Forecasting in Practice -- Summary Points -- MINI-CASE: Russian Ruble Roulette -- Questions -- Problems -- Internet Exercises -- PART 3 Foreign Exchange Exposure -- Chapter 10 Transaction Exposure -- Types of Foreign Exchange Exposure -- Why Hedge? -- Ganado's Transaction Exposure -- Risk Management in Practice -- Advanced Topics in Hedging -- Summary Points -- MINI-CASE: China Noah Corporation -- Questions -- Problems. ; Internet Exercises -- Appendix: Complex Option Hedges -- Chapter 11 Translation Exposure -- Overview of Translation -- Translation Methods -- Ganado Corporation's Translation Exposure -- Managing Translation Exposure -- Summary Points -- MINI-CASE: McDonald's, Hoover Hedges, and Cross-Currency Swaps -- Questions -- Problems -- Internet Exercises -- Chapter 12 Operating Exposure -- A Multinational's Operating Exposure -- Measuring Operating Exposure: Ganado Germany -- Strategic Management of Operating Exposure -- Proactive Management of Operating Exposure -- Summary Points -- MINI-CASE: Toyota's European Operating Exposure -- Questions -- Problems -- Internet Exercises -- PART 4 Financing the Global Firm -- Chapter 13 The Global Cost and Availability of Capital -- Financial Globalization and Strategy -- International Portfolio Theory and Diversification -- The Demand for Foreign Securities: The Role of International Portfolio Investors -- The Cost of Capital for MNEs Compared to Domestic Firms -- Summary Points -- MINI-CASE: Novo Industri A/S (Novo) -- Questions -- Problems -- Internet Exercises -- Chapter 14 Raising Equity and Debt Globally -- Designing a Strategy to Source Capital Globally -- Optimal Financial Structure -- Optimal Financial Structure and the Multinational -- Raising Equity Globally -- Depositary Receipts -- Private Placement -- Foreign Equity Listing and Issuance -- Raising Debt Globally -- Summary Points -- MINI-CASE: Petrobrás of Brazil and the Cost of Capital -- Questions -- Problems -- Internet Exercises -- Appendix: Financial Structure of Foreign Subsidiaries -- Chapter 15 Multinational Tax Management -- Tax Principles -- Multinational Tax Management -- Tax Havens and International Offshore Financial Centers -- Google: An Illustrative Case of Profit Repositioning -- Corporate Inversion -- Summary Points. ; MINI-CASE: Apple's Global iTax Strategy -- Questions -- Problems -- Internet Exercises -- Chapter 16 International Trade Finance -- The Trade Relationship -- Benefits of the System -- Key Documents -- Government Programs to Help Finance Exports -- Trade Financing Alternatives -- Forfaiting: Medium- and Long-Term Financing -- Summary Points -- MINI-CASE: Crosswell International and Brazil -- Questions -- Problems -- Internet Exercises -- PART 5 Foreign Investments and Investment Analysis -- Chapter 17 Foreign Direct Investment and Political Risk -- Sustaining and Transferring Competitive Advantage -- The OLI Paradigm and Internationalization -- Deciding Where to Invest -- Modes of Foreign Investment -- Illustrative Case: Corporate Competition from the Emerging Markets -- Predicting Political Risk -- Country-Specific Risk: Transfer Risk -- Country-Specific Risk: Cultural and Institutional Risk -- Global-Specific Risk -- Summary Points -- MINI-CASE: Strategic Portfolio Theory, Black Swans, and [Avoiding] Being the Turkey -- Questions -- Internet Exercises -- Chapter 18 Multinational Capital Budgeting and Cross-Border Acquisitions -- Complexities of Budgeting for a Foreign Project -- Illustrative Case: Cemex Enters Indonesia -- Real Option Analysis -- Project Financing -- Cross-Border Mergers and Acquisitions -- Summary Points -- MINI-CASE: Elan and Royalty Pharma -- Questions -- Problems -- Internet Exercises -- Answers to Selected End-of-Chapter Problems -- Glossary.
• Sommario/riassunto: For courses in International Finance. Authoritative, Comprehensive Coverage of Contemporary International Finance Renowned for its authoritative, comprehensive coverage of contemporary international finance, Multinational Business Finance 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. The Fourteenth Edition, now with MyFinanceLab, attempts to capture the rapid evolution of our global marketplace, taking a closer look at the types of organizations that permeate the widespread arena, competition and opportunities in emerging markets, and how financial leadership can integrate the strategic and financial challenges that global businesses face today. MyFinanceLab® not included. Students, if MyFinanceLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyFinanceLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information. MyFinanceLab is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts. Please note that the product you are purchasing does not include MyFinanceLab. MyFinanceLab Join over 11 million students benefiting from Pearson MyLabs. This title can be supported by MyfinanceLab, an online homework and tutorial system; designed to test and build your understanding. Would you like to use the power of MyfinanceLab to accelerate your learning? You need both an access card and a course ID to access MyfinanceLab. These are the steps you need to take: 1. Make sure that your lecturer is already using the system Ask your lecturer before purchasing a MyLab product as you will need a course ID from them before you can gain access to the system. 2. Check whether an access card has been included with the book at a reduced cost If it has, it will be on the inside back cover of the book. 3. If you have a course ID but no access code, you can benefit from MyfinanceLab at a reduced price by purchasing a pack containing a copy of the book and an access code for MyfinanceLab (ISBN:9781292097985) 4. If your lecturer is using the MyLab and you would like to purchase the product... Go to www.myfinancelab.com to buy access to this interactive study programme. For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned.co.uk/replocator &nbsp.
• Titolo autorizzato: Multinational business finance
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910154927603321
• Lo trovi qui: Univ. Federico II
• Serie: Pearson series in finance.