Multinational Financial Management

by Alan C. Shapiro, Paul Hanouna, Atulya Sarin

Overview

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*Extensive discussion of the Asian currency crisis*Examination of international differences in corporate governance*Exploration of the eurocurrency*Additional coverage of the European Monetary Union*Completely updated real-world examples that provide actual applications of financial concepts and theories*New cases and end-of-chapter problemsSupplements Instructor's Manual with Solutions and Test Bank This all-inclusive ancillary contains lecture outlines and objectives, key points, suggested answers to discussion questionsand solutions to all end-of-chapter problems. This manual also includes a test bank completely revised and updated for the sixth edition by Joseph Greco of California State University—Fullerton.

Product Details

ISBN-13:	9781394187836
Publisher:	Wiley
Publication date:	02/28/2024
Pages:	672
Product dimensions:	8.00(w) x 9.90(h) x 1.20(d)

About the Author

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

Introduction: Multinational Enterprise and Multinational Financial Management.
PART ONE: ENVIRONMENT OF INTERNATIONAL FINANCIAL MANAGEMENT.
The Determination of Exchange Rates.
The International Monetary System.
The Balance of Payments and International Economic Linkages.
The Foreign Exchange Market.
Currency Futures and Options Markets.
Parity Conditions in International Finance and Currency Forecasting.
PART TWO: FOREIGN EXCHANGE RISK MANAGEMENT.
Measuring Accounting Exposure.
Managing Accounting Exposure.
Measuring Economic Exposure.
Managing Economic Exposure.
PART THREE: MULTINATIONAL WORKING CAPITAL MANAGEMENT.
Financing Foreign Trade.
Current Asset Management.
Managing the Multinational Financial System.
PART FOUR: FINANCING FOREIGN OPERATIONS.
International Financing and International Financial Markets.
Special Financing Vehicles.
International Banking Trends and Strategies.
The Cost of Capital for Foreign Investments.
PART FIVE: FOREIGN INVESTMENT ANALYSIS.
International Portfolio Investment.
Corporate Strategy and Foreign Direct Investment.
Capital Budgeting for the Multinational Corporation.
The Measurement and Management of Political Risk.
Glossary of Key Words and Terms in International Finance.

Editorial Reviews

As the multinational corporation becomes the norm rather than the exception, there is an apparent need to internationalize the tools of financial analysis. This revised textbook provides a conceptual framework within which the key financial decisions of the multinational firm can be analyzed. All the traditional areas of corporate finance are explored from the perspective of a multinational corporation, concentrating on decision elements rarely encountered by domestic firms. The revisions are mainly of a pedagogical nature, enhancing the text as a teaching/learning vehicle. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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