Authoritative, comprehensive coverage of contemporary international finance.
Renowned for its authoritative, comprehensive coverage of contemporary international finance, this market-leading text 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 firm value, the authors have embedded real-world mini-cases throughout to apply chapter concepts to the types of situations managers of multinational firms face.
The thirteenth edition attempts to capture the rapid evolution of our global marketplace through a number of principles, practices, and features.
Key Features
- The unique managerial emphasis employs numerous embedded mini-cases to push students beyond a superficial understanding of abstract concepts. Students learn that a successful manager in a multinational enterprise not only needs to be able to recognize imperfections in national markets for products, factors of production and financial assets, but also to be able to make decisions about how to benefit from those imperfections.
- Exceptional currency of coverage keeps students abreast of contemporary issues and events, including financial management issues in emerging markets.
- An entire chapter is devoted to the political risk challenges faced by multinational enterprises across three corridors of exposure: firm-specific risk, country-specific risk, and global-specific risk.
- Spreadsheet examples, along with online templates, give students hands on practice with a key tool of the financial manager. Multinational Business Finance also offers the most end-of-chapter problems of any text on the market. Spreadsheet solutions are available for instructors.
- A complete supplements package, including PowerPoint® lecture notes, instructor’s manual and a comprehensive test bank is available.
New to This Edition
- NEW. Emerging market content is integrated throughout, highlighting both the promises and challenges of financial management in a global marketplace.
- EXPANDED coverage of the global financial crises from the credit crisis of 2007-2009 to the current sovereign debt and financial crisis raging across Europe.
- NEW. Twelve of the 20 mini-cases in the book are new. The majority are inclusive of emerging market business.
- REVISED. In order to create a shorter, tighter text for today's more complex courses, the authors have merged and integrated a number of concepts and chapters:
- Chapters on currency derivatives - futures, options, and swaps - have been combined.
- Chapters on translation exposure and operating (economic) exposure have been revised to capture the industry’s growing interest and concern over these currency-based company exposures.
- Chapters on the financial structures and capital sourcing strategies employed by multinational firms have been restructured and reorganized for a tighter presentation.
Contents
Part I Global Financial Environment
- Chapter 1 Current Multinational Challenges and the Global Economy
- Chapter 2 Corporate Ownership, Goals, and Governance
- Chapter 3 The International Monetary System
- Chapter 4 The Balance of Payments
- Chapter 5 The Continuing Global Financial Crisis
Part II Foreign Exchange Theory and Markets
- Chapter 6 The Foreign Exchange Market
- Chapter 7 International Parity Conditions
- Chapter 8 Foreign Currency Derivatives and Swaps
Part III Foreign Exchange Exposure
- Chapter 9 Foreign Exchange Rate Determination and Forecasting
- Chapter 10 Transaction Exposure
- Chapter 11 Translation Exposure
- Chapter 12 Operating Exposure
Part IV Financing the Global Firm
- Chapter 13 The Global Cost and Availability of Capital
- Chapter 14 Raising Equity and Debt Globally
- Chapter 15 Multinational Tax Management
Part V Foreign Investment Decisions
- Chapter 16 International Portfolio Theory and Diversification
- Chapter 17 Foreign Direct Investment and Political Risk
- Chapter 18 Multinational Capital Budgeting and Cross-Border Acquisitions
Part VI Managing Multinational Operations
- Chapter 19 Working Capital Management
- Chapter 20 International Trade Finance
About the Authors
- Arthur I. Stonehill is a Professor of Finance and International Business, Emeritus, at Oregon State University, where he taught for 24 years (1966–1990).
- David K. Eiteman is Professor Emeritus of Finance at the John E. Anderson Graduate School of Management at UCLA.
- Michael H. Moffett is Continental Grain Professor in Finance at the Thunderbird School of Global Management.
Book Details
- Hardcover: 648 pages
- Publisher: Prentice Hall; 13 edition (c2013)
- Language: English
- ISBN-10: 0132743469
- ISBN-13: 978-0132743464
- Product Dimensions: 10.2 x 7.9 x 0.7 inches
- List Price: $260.00