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Multinational Finance
Evaluating the Opportunities, Costs, and Risks of Multinational Operations
Taschenbuch von Kirt C. Butler
Sprache: Englisch

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Beschreibung
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.
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.
Inhaltsverzeichnis
Preface

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 CorporationCORPORATION

1.5 Summary

Chapter 2: World Trade and the International Monetary System

2.1 Integration of the World's Markets

2.2 Balance-of-Payments Statistics

2.3 Exchange Rate Systems

2.4 A Brief History of the International Monetary System

2.5 Summary

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

Chapter 4: The International Parity Conditions and Their Consequences

4.1 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

Appendix 4A: Continuous Compounding

Part Two: Derivative Securities for Financial Risk Management

Chapter 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

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

Appendix 6A: Currency Option Valuation

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

Part Three: Managing the Risks of Multinational Operations

Chapter 8: Multinational Treasury Management

8.1 Determining Financial Goals and Strategies

8.2 Managing International Trade

8.3 Payment Methods and Financing for International Trade

8.4 Managing Cash Flows

8.5 Managing Exposures to Currency Risk

8.6 Summary

Appendix 8A: The Rationale for Hedging Currency Risk

Chapter 9: Managing Transaction Exposure to Currency Risk

9.1 Transaction Exposure to Currency Risk

9.2 Managing Transaction Exposures Internally

9.3 Managing Transaction Exposures in the Financial Markets

9.4 Treasury Management in Practice

9.5 Summary

Chapter 10: Managing Operating Exposure to Currency Risk

10.1 Operating Exposures to Currency Risk

10.2 The Exposure of Shareholders' Equity

10.3 Managing Operating Exposures in the Financial Markets

10.4 Managing Operating Exposures Through Operations

10.5 Pricing Strategy and the Competitive Environment

10.6 Summary

Chapter 11: Managing Translat
Details
Erscheinungsjahr: 2016
Fachbereich: Betriebswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Taschenbuch
Seiten: 576
Inhalt: 576 S.
ISBN-13: 9781119219682
ISBN-10: 111921968X
Sprache: Englisch
Herstellernummer: 1W119219680
Autor: Butler, Kirt C.
Auflage: 6. Aufl.
Hersteller: Wiley
Wiley & Sons
Maße: 254 x 177 x 30 mm
Von/Mit: Kirt C. Butler
Erscheinungsdatum: 24.06.2016
Gewicht: 1,076 kg
preigu-id: 104260203
Inhaltsverzeichnis
Preface

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 CorporationCORPORATION

1.5 Summary

Chapter 2: World Trade and the International Monetary System

2.1 Integration of the World's Markets

2.2 Balance-of-Payments Statistics

2.3 Exchange Rate Systems

2.4 A Brief History of the International Monetary System

2.5 Summary

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

Chapter 4: The International Parity Conditions and Their Consequences

4.1 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

Appendix 4A: Continuous Compounding

Part Two: Derivative Securities for Financial Risk Management

Chapter 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

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

Appendix 6A: Currency Option Valuation

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

Part Three: Managing the Risks of Multinational Operations

Chapter 8: Multinational Treasury Management

8.1 Determining Financial Goals and Strategies

8.2 Managing International Trade

8.3 Payment Methods and Financing for International Trade

8.4 Managing Cash Flows

8.5 Managing Exposures to Currency Risk

8.6 Summary

Appendix 8A: The Rationale for Hedging Currency Risk

Chapter 9: Managing Transaction Exposure to Currency Risk

9.1 Transaction Exposure to Currency Risk

9.2 Managing Transaction Exposures Internally

9.3 Managing Transaction Exposures in the Financial Markets

9.4 Treasury Management in Practice

9.5 Summary

Chapter 10: Managing Operating Exposure to Currency Risk

10.1 Operating Exposures to Currency Risk

10.2 The Exposure of Shareholders' Equity

10.3 Managing Operating Exposures in the Financial Markets

10.4 Managing Operating Exposures Through Operations

10.5 Pricing Strategy and the Competitive Environment

10.6 Summary

Chapter 11: Managing Translat
Details
Erscheinungsjahr: 2016
Fachbereich: Betriebswirtschaft
Genre: Wirtschaft
Rubrik: Recht & Wirtschaft
Medium: Taschenbuch
Seiten: 576
Inhalt: 576 S.
ISBN-13: 9781119219682
ISBN-10: 111921968X
Sprache: Englisch
Herstellernummer: 1W119219680
Autor: Butler, Kirt C.
Auflage: 6. Aufl.
Hersteller: Wiley
Wiley & Sons
Maße: 254 x 177 x 30 mm
Von/Mit: Kirt C. Butler
Erscheinungsdatum: 24.06.2016
Gewicht: 1,076 kg
preigu-id: 104260203
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