Multinational Business Finance

Multinational Business Finance

<cite><strong>Multinational Business Finance</strong></cite> 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...

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Detalles Bibliográficos
Otros Autores: Eiteman, David K., author (author), Stonehill, Arthur I., author, Moffett, Michael H., author
Formato: Libro electrónico
Idioma:Inglés
Publicado: Harlow, England : Pearson [2024]
Edición:Sixteenth, global edition
Materias:
International business enterprises > Finance.
Ver en Biblioteca Universitat Ramon Llull:https://discovery.url.edu/permalink/34CSUC_URL/1im36ta/alma991009863797306719
Tabla de Contenidos:
  • Cover
  • Title Page
  • Copyright Page
  • For Art
  • Pearson's Commitment to Diversity, Equity, and Inclusion
  • Preface
  • Brief Contents
  • Contents
  • Part 1: Global Financial Environment
  • Chapter 1. Multinational Financial Management: Opportunities and Challenges
  • 1.1 The Global Financial Marketplace
  • Global Finance in Practice 1.1: Exchange Rate Quotations
  • Global Finance in Practice 1.2: Why Don't African Countries Undervalue Their Currencies?
  • 1.2 The Theory of Comparative Advantage
  • 1.3 What Is Different About International Financial Management?
  • Global Finance in Practice 1.3: Corporate Responsibility and Corporate Sustainability
  • 1.4 The Globalization Process
  • Summary Points
  • Mini-case: Global Fintech
  • Questions
  • Problems
  • Chapter 2. International Monetary System
  • 2.1 History of the International Monetary System
  • Global Finance in Practice 2.1: The "Gold Bloc"-The Last Stand of Gold Standard
  • Global Finance in Practice 2.2: Britain Leaves the Gold Standard: Press Notice (Excerpts of September 19, 1931)
  • Global Finance in Practice 2.3: Hammering out an Agreement at Bretton Woods
  • 2.2 Fixed versus Flexible Exchange Rates
  • 2.3 The Impossible Trinity
  • 2.4 A Single Currency for Europe: The Euro
  • 2.5 Internationalization of the Chinese RMB
  • 2.6 Emerging Markets and Regime Choices
  • Global Finance in Practice 2.4: Nigeria Fights Currency Exchange Innovation
  • Summary Points
  • Mini-case: The Promise of the Digital Yuan
  • Questions
  • Problems
  • Chapter 3. The Balance of Payments
  • 3.1 Fundamentals of BOP Accounting
  • 3.2 The Accounts of the Balance of Payments
  • Global Finance in Practice 3.1: Inward Foreign Direct Investment in the Year of COVID
  • Global Finance in Practice 3.2: A Country's Net International Investment Position (NIIP)
  • 3.3 BOP Impacts on Key Macroeconomic Rates.
  • 3.4 Trade Balances and Exchange Rates
  • Global Finance in Practice 3.3: Do Trade Flows No Longer Follow the Theory?
  • 3.5 Capital Mobility
  • Global Finance in Practice 3.4: Chinese Regulatory Bureaucracy as a Capital Control
  • Summary Points
  • Mini-case: Global Remittances-Contributions of the Invisible
  • Questions
  • Problems
  • Chapter 4. Financial Goals, Corporate Governance, and the Market for Corporate Control
  • 4.1 Business Ownership
  • Global Finance in Practice 4.1: Historical Origins of the Modern Corporation
  • Global Finance in Practice 4.2: Structural Ownership Differences Across the World
  • 4.2 The Corporate Objective?
  • Global Finance in Practice 4.3: Stakeholder Capitalism Metrics: The Four Ps
  • 4.3 Corporate Governance
  • Global Finance in Practice 4.4: Italian Cross-Shareholding and the End of the Salatto Buono
  • Global Finance in Practice 4.5: Volkswagen's Governance and Diesel Gate
  • 4.4 The Market for Corporate Control
  • Summary Points
  • Mini-case: Toshiba's Failing Corporate Governance
  • Questions
  • Problems
  • Part 2: Foreign Exchange Theory and Markets
  • Chapter 5. The Foreign Exchange Market
  • 5.1 Functions of the Foreign Exchange Market
  • 5.2 Structure of the Foreign Exchange Market
  • Global Finance in Practice 5.1: The Twilight Hour in Global FX Trading
  • Global Finance in Practice 5.2: Bankhaus Herstatt and Herstatt Risk
  • Global Finance in Practice 5.3: Black Wednesday: The 1992 Sterling Crisis
  • 5.3 Transactions in the Foreign Exchange Market
  • 5.4 Foreign Exchange Rates and Quotations
  • Global Finance in Practice 5.4: The Rocketing Swiss Franc
  • Summary Points
  • Mini-case: Iceland: A Small Country in a Global Crisis
  • Questions
  • Problems
  • Chapter 6. International Parity Conditions
  • 6.1 Prices and Exchange Rates.
  • Global Finance in Practice 6.1: Lies, Damn Lies, and Statistics: Uber Fare as the Basis for Exchange Rate Parity
  • 6.2 Interest Rates and Exchange Rates
  • Global Finance in Practice 6.2: Are Foreign Capital Inflow and Interest Rate Directly Related?
  • Global Finance in Practice 6.3: Global Money Market Interest Rates, 1986-2021
  • 6.3 Forward Rate as an Unbiased Predictor of the Future Spot Rate
  • Global Finance in Practice 6.4: Hungarian Mortgage
  • 6.4 Prices, Interest Rates, and Exchange Rates in Equilibrium
  • Summary Points
  • Mini-case: Mrs. Watanabe and the Japanese Yen Carry Trade
  • Questions
  • Problems
  • Appendix: An Algebraic Primer to International Parity Conditions
  • Chapter 7. Foreign Currency Derivatives: Futures and Options
  • 7.1 Foreign Currency Futures
  • 7.2 Foreign Currency Options
  • Global Finance in Practice 7.1: Currency Options and Lufthansa
  • Global Finance in Practice 7.2: Exotic Options: Caveat Emptor
  • 7.3 Option Pricing and Valuation
  • Global Finance in Practice 7.3: The New Zealand Kiwi and Andrew Krieger
  • 7.4 Currency Option Pricing Sensitivity
  • Global Finance in Practice 7.4: GM and Fiat's Put Option
  • Summary Points
  • Mini-case: The Ups and Downs of Volatility
  • Questions
  • Problems
  • Appendix: Currency Option Pricing Theory
  • Chapter 8. Interest Rate Risk and Swaps
  • 8.1 Interest Rate Foundations
  • 8.2 The Cost of Debt
  • Global Finance in Practice 8.1: You Will Be a Millionaire in Indonesia: The Impact of South Asian Currency Crisis
  • 8.3 Interest Rate Risk
  • 8.4 Interest Rate Futures and Forward Rate Agreements
  • 8.5 Interest Rate Swaps
  • Global Finance in Practice 8.2: Procter &amp
  • Gamble and Bankers Trust
  • Summary Points
  • Mini-case: Replacing LIBOR
  • Questions
  • Problems
  • Chapter 9. Foreign Exchange Rate Determination and Intervention.
  • 9.1 Exchange Rate Determination: The Theoretical Thread
  • Global Finance in Practice 9.1: Technical Analysis of the Japanese Yen-U.S. Dollar Exchange Rate (January 2011-February 2014)
  • 9.2 Currency Market Intervention
  • Global Finance in Practice 9.2: Coordinated Intervention: The Lost Decade of Japan
  • Global Finance in Practice 9.3: Rules of Thumb for Effective Intervention
  • Global Finance in Practice 9.4: The European Monetary System's "Snake in a Tunnel"
  • 9.3 Disequilibrium: Exchange Rates in Emerging Markets
  • 9.4 Currency Forecasting in Practice
  • Summary Points
  • Mini-case: Is China a Currency Manipulator?
  • Questions
  • Problems
  • Part 3: Foreign Exchange Exposure
  • Chapter 10. Transaction Exposure
  • 10.1 Types of Foreign Exchange Exposure
  • 10.2 Why Hedge?
  • Global Finance in Practice 10.1: Hedging and the Samsung Group
  • 10.3 Transaction Exposure
  • 10.4 Transaction Exposure Management
  • Global Finance in Practice 10.2: Forward Rates and the Cost of Hedging
  • 10.5 Transaction Exposure Management in Practice
  • Global Finance in Practice 10.3: Why Intra-Company Hedging Makes Sense
  • Summary Points
  • Mini-case: GraysonChung's FX Exposure
  • Questions
  • Problems
  • Appendix A: Complex Option Hedges
  • Appendix B: The Optimal Hedge Ratio and Hedge Effectiveness
  • Chapter 11. Translation Exposure
  • 11.1 Overview of Translation
  • Global Finance in Practice 11.1: Functional Currency and Management Performance
  • 11.2 Translation Methods
  • 11.3 Aidan Corporation's Translation Exposure
  • Global Finance in Practice 11.2: Value of a Foreign Subsidiary: Tata Motors and Jaguar Land Rover
  • 11.4 Managing Translation Exposure
  • Global Finance in Practice 11.3: Foreign Currency Hedge Accounting
  • Summary Points
  • Mini-case: Electrolux of Sweden's Currency Management
  • Questions
  • Problems
  • Chapter 12. Operating Exposure.
  • 12.1 A Multinational's Operating Exposure
  • Global Finance in Practice 12.1: Operating Exposure: Jet2.com
  • 12.2 Measuring Operating Exposure
  • Global Finance in Practice 12.2: The Misunderstood Equation
  • 12.3 Strategic Management of Operating Exposure
  • Global Finance in Practice 12.3: The United Kingdom and Europe: Trans-Channel Currency Shifts
  • 12.4 Proactive Management of Operating Exposure
  • Global Finance in Practice 12.4: Hedging Hogs: Risk Sharing at Harley-Davidson
  • Global Finance in Practice 12.5: Do Fixed Exchange Rates Increase Corporate Currency Risk in Emerging Markets?
  • Summary Points
  • Mini-case: Brexit and Rolls-Royce
  • Questions
  • Problems
  • Appendix: Measuring Operating Exposure: Aidan Turkey
  • Part 4: Financing the Global Firm
  • Chapter 13. Global Cost and Availability of Capital
  • 13.1 Financial Globalization and Strategy
  • Global Finance in Practice 13.1: Brexit and the Cost of Capital
  • 13.2 International Portfolio Theory and Diversification
  • 13.3 The Role of International Portfolio Investors
  • Global Finance in Practice 13.2: Emerging Market Growth Companies-IPOs and Corporate Governance
  • Global Finance in Practice 13.3: Culture, Religion, Law, and Financial Behavior
  • 13.4 The Cost of Capital for MNEs Compared to Domestic Firms
  • 13.5 Illustrative Case: Novo Industri A/S (Novo)
  • Summary Points
  • Mini-case: The Recapitalization of Saudi Aramco
  • Questions
  • Problems
  • Chapter 14. Funding the Multinational Firm
  • 14.1 Designing a Strategy to Source Capital Globally
  • 14.2 Optimal Financial Structure
  • 14.3 Raising Equity Globally
  • Global Finance in Practice 14.1: Saudi Aramco's IPO Valuation
  • Global Finance in Practice 14.2: Global Equity Listings
  • 14.4 Depositary Receipts
  • 14.5 Private Placement
  • 14.6 Raising Debt Globally
  • Global Finance in Practice 14.3: Islamic Finance.
  • 14.7 Financing Foreign Subsidiaries.

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