Multinational Finance: Evaluating the Opportunities, Costs, and Risks of Multinational Operations, 6th Edition

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.

Table of Contents

PART ONE The International Financial Environment
CHAPTER 1 An Introduction to Multinational Finance
CHAPTER 2 World Trade and the International Monetary System
CHAPTER 3 Foreign Exchange and Eurocurrency Markets
CHAPTER 4 The International Parity Conditions and Their Consequences

PART TWO Derivative Securities for Financial Risk Management
CHAPTER 5 Currency Futures and Futures Markets
CHAPTER 6 Currency Options and Options Markets
CHAPTER 7 Currency Swaps and Swaps Markets

PART THREE Managing the Risks of Multinational Operations
CHAPTER 8 Multinational Treasury Management
CHAPTER 9 Managing Transaction Exposure to Currency Risk
CHAPTER 10 Managing Operating Exposure to Currency Risk
CHAPTER 11 Managing Translation Exposure and Accounting for Financial Transactions

PART FOUR Valuation and the Structure of Multinational Operations
CHAPTER 12 Foreign Market Entry and Country Risk Management
CHAPTER 13 Multinational Capital Budgeting
CHAPTER 14 Multinational Capital Structure and Cost of Capital
CHAPTER 15 Taxes and Multinational Corporate Strategy
CHAPTER 16 Real Options and Cross-Border Investment Strategy
CHAPTER 17 Corporate Governance and the International Market for Corporate Control

PART FIVE International Portfolio Investment and Asset Pricing
CHAPTER 18 International Capital Markets
CHAPTER 19 International Portfolio Diversification
CHAPTER 20 International Asset Pricing

Appendix: Useful Rules and Formulas