* Integrates economic and political factors underlying exchange rate determination.
* Uses the balance-of-payments framework to assess economic links among nations.
* Presents a comprehensive discussion of the foreign exchange market.
* Discusses the key parity conditions in international finance that relate interest rates, exchange rates, and inflation rates, and the underlying arbitrage considerations that determine them-along with numerous real-world applications.
* Presents distinctions between real and nominal exchange rates and between accounting and economic exposure and their significance for exchange risk management.
* Provides a comprehensive discussion of the mechanisms multinational firms use to manage interaffiliate fund flows on a global basis.
* Presents the underpinnings of financial markets and the implications for international capital flows.
* Presents specialized financing and risk management techniques.
* Discusses the assessment of the cost of capital for foreign investments.
* Discusses the nature and consequences of international portfolio investment, including emerging market investments.
* Presents the development of global strategies of multinational corporations.
* Provides the means for analyzing foreign investments.
* Covers political risk measurement and management.
* Includes a number of distinctive pedagogical features including real-world examples, vignettes, illustrations, and hundreds of realistic end-of-chapter questions and problems.
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Grounded in modern financial theory, this highly acclaimed text provides a conceptual framework wherein the key financial decisions of the multinational firm can be analyzed. As in previous editions, the book's approach treats international financial management as a natural and logical extension of principles learned in the foundations of financial management course. This Fifth Edition has been thoroughly updated and improved to reflect the most recent developments in the field and enhance overall learning.From the Back Cover:
International business activity is not new. The transfer of goods and services across national borders has been taking place for thousands of years, antedating even Joseph’s advice to the rulers of Egypt to establish that nation as the granary of the Middle East. Since the end of World War II, however, international business has undergone a revolution out of which has emerged what is probably the most important economic phenomenon of the latter half of the 20th century: the multinational corporation. The sixth edition of Multinational Financial Management provides the conceptual framework within which key financial decisions of the multinational firm can be analyzed. The emphasis throughout the book is on taking advantage of being a multinational corporation. Using real-world examples and illustrations of corporate practices, the text demonstrates to students the value of making judgments with a solid theoretical foundation. Beyond the traditional coverage of corporate finance, key elements including multiple currency, exchange rates, differing tax systems, and political risks such as nationalization and expropriation are explored. New to This Edition
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Book Description Wiley. Textbook Binding. Book Condition: Good. Light shelf wear and minimal interior marks. Bookseller Inventory # G0130101427I3N00