Multinational finance : evaluating the opportunities, costs, and risks of multinational operations / Kirt C. Butler.

Format:

Book

Series:

Wiley finance series.

Wiley Finance Series

Language:

English

Subjects (All):

Foreign exchange.

International business enterprises--Finance.

International business enterprises.

International finance.

Physical Description:

1 online resource (661 p.)

Edition:

Sixth edition.

Place of Publication:

Hoboken, N.J.: Wiley, c2016.

Hoboken, New Jersey : Wiley, 2016.

Language Note:

English

Summary:

Deep coverage and rigorous examination of international corporate finance Multinational Finance offers an advanced exploration of international corporate finance concepts and operations. Despite its status as one of the most rigorous texts on the topic, this book remains accessible and readable without sacrificing depth of coverage. Sidebars, key terms, essays, conceptual questions, and problems with solutions help aid in the learning process, while suggested readings and PowerPoint handouts reinforce the material and offer avenues for further exploration. This new sixth edition includes Excel templates that allow students to use real-world tools in a learning environment, and the modular structure facilitates course customization to individual objectives, interests, and preparatory level. The emphasis is on the basics of financial management, but coverage includes unique chapters on treasury management, asset pricing, hedging, options, and portfolio management in addition to traditional finance topics. International finance is a diverse field with myriad specialties and a vast array of possible interests. This book allows students to view the field through the lens of a financial manager with investment or financial options in more than one country to give them a practical feel for real-world application. Understand the nature and operations of international corporate finance Evaluate opportunities, costs, and risks of multinational operations See beyond the numbers and terminology to the general principles at work Learn the markets, currencies, taxation, capital structure, governance, and more Comprehensive, adaptable, and rigorously focused, this book gives students a solid foundation in international corporate finance, as well as a sound understanding of the tools and mechanics of the field. Designed for MBA and advanced undergraduate courses, Multinational Finance provides the deep coverage so essential to a solid education in finance.

Contents:

Series Page; Title Page; Copyright; Table of Contents; Preface; Key Features; Learning Aids for Students; Supplements for Instructors; Acknowledgments; About the Author; Part One: The International Financial Environment; Chapter 1: An Introduction to Multinational Finance; 1.1 The Goals of the Multinational Corporation; 1.2 The Challenges of Multinational Operations; 1.3 The Opportunities of Multinational Operations; 1.4 Financial Management of the Multinational Corporation; 1.5 Summary; Key Terms; Conceptual Questions; Chapter 2: World Trade and the International Monetary System

2.1 Integration of the World's Markets2.2 Balance-of-Payments Statistics; 2.3 Exchange Rate Systems; 2.4 A Brief History of the International Monetary System; 2.5 Summary; Key Terms; Conceptual Questions; Problems; Chapter 3: Foreign Exchange and Eurocurrency Markets; 3.1 Characteristics of Financial Markets; 3.2 The Eurocurrency Market; 3.3 The Foreign Exchange Market; 3.4 Foreign Exchange Rates and Quotations; 3.5 Hedging with Currency Forwards; 3.6 The Empirical Behavior of Exchange Rates; 3.7 Summary; Key Terms; Conceptual Questions; Problems

Chapter 4: The International Parity Conditions and Their Consequences4.1 The Law of One Price; 4.2 Exchange Rate Equilibrium; 4.3 Covered Interest Arbitrage and Interest Rate Parity; 4.4 Less Reliable International Parity Conditions; 4.5 The Real Exchange Rate; 4.6 Exchange Rate Forecasting; 4.7 Summary; Key Terms; Conceptual Questions; Problems; Further Reading; Appendix 4A: Continuous Compounding; Continuously Compounded Rates of Return; International Parity Conditions in Continuously Compounded Returns; Real Exchange Rates in Continuously Compounded Returns; Summary; Problems

Part Two: Derivative Securities for Financial Risk ManagementChapter 5: Currency Futures and Futures Markets; 5.1 The Evolution of Futures Markets; 5.2 Futures Contracts; 5.3 Forward versus Futures Market Hedges; 5.4 Hedging with Currency Futures; 5.5 Summary; Key Terms; Conceptual Questions; Problems; Chapter 6: Currency Options and Options Markets; 6.1 What Is an Option?; 6.2 Option Payoff Profiles; 6.3 Currency Option Values Prior to Expiration; 6.4 Hedging with Currency Options; 6.5 Exchange Rate Volatility Revisited; 6.6 Summary; Key Terms; Conceptual Questions; Problems; Further Reading

Appendix 6A: Currency Option ValuationThe Black-Scholes option pricing model; A currency option pricing model; Key Terms; Problems; Further Reading; Chapter 7: Currency Swaps and Swaps Markets; 7.1 The Growth of the Swaps Market; 7.2 Swaps as Portfolios of Forward Contracts; 7.3 Currency Swaps; 7.4 Interest Rate Swaps; 7.5 Other Types of Swaps; 7.6 Hedging the Swap Bank's Exposure to Financial Price Risk; 7.7 Summary; Key Terms; Conceptual Questions; Problems; Advanced; Part Three: Managing the Risks of Multinational Operations; Chapter 8: Multinational Treasury Management

8.1 Determining Financial Goals and Strategies

Notes:

Description based upon print version of record.

Includes bibliographical references at the end of each chapters and index.

Description based on print version record.

ISBN:

1-119-21970-1

1-119-21971-X

1-119-21972-8

OCLC:

935784418