International corporate finance /
Jeff Madura.
- 13th Edition .
- Boston, USA ; Cengage learning , 2018.
- xxvi, 710 p. : col. ill., col. maps ; 26 cm.
Previous ed. published as: International financial management, 2002.
Includes bibliographical references and index.
PART 1: The International Financial Environment
1: MULTINATIONAL FINANCIAL MANAGEMENT: AN OVERVIEW
1-1 Managing the MNC
1-2 Why MNCs Pursue International Business
1-3 Methods to Conduct International Business
1-4 Valuation Model for an MNC
1-5 Organization of the Text
2: INTERNATIONAL FLOW OF FUNDS
2-1 Balance of Payments
2-2 Growth in International Trade
2-3 Factors Affecting International Trade Flows
2-4 International Capital Flows
2-5 Agencies That Facilitate International Flows
3: INTERNATIONAL FINANCIAL MARKETS
3-1 Foreign Exchange Market
3-2 International Money Market
3-3 International Credit Market
3-4 International Bond Market
3-5 International Stock Markets
3-6 How Financial Markets Serve MNCs
Appendix 3: Investing in International Financial Markets
4: EXCHANGE RATE DETERMINATION
4-1 Measuring Exchange Rate Movements
4-2 Exchange Rate Equilibrium
4-3 Factors That Influence Exchange Rates
4-4 Movements in Cross Exchange Rates
4-5 Capitalizing on Expected Exchange Rate Movements
5: CURRENCY DERIVATIVES
5-1 Forward Market
5-2 Currency Futures Market
5-3 Currency Options Market
5-4 Currency Call Options
5-5 Currency Put Options
5-6 Other Forms of Currency Options
Appendix 5A: Currency Option Pricing
Appendix 5B: Currency Option Combinations
Part 1 Integrative Problem: The International Financial Environment
PART 2: Exchange Rate Behavior
6: GOVERNMENT INFLUENCE ON EXCHANGE RATES
6-1 Exchange Rate Systems
6-2 A Single European Currency
6-3 Direct Intervention
6-4 Indirect Intervention
Appendix 6: Government Intervention during the Asian Crisis
7: INTERNATIONAL ARBITRAGE AND INTEREST RATE PARITY
7-1 Locational Arbitrage
7-2 Triangular Arbitrage
7-3 Covered Interest Arbitrage
7-4 Interest Rate Parity (IRP)
7-5 Variation in Forward Premiums
8: RELATIONSHIPS AMONG INFLATION, INTEREST RATES, AND EXCHANGE RATES
8-1 Purchasing Power Parity (PPP)
8-2 International Fisher Effect (IFE)
Part 2 Integrative Problem: Exchange Rate Behavior
Midterm Self-Exam
PART 3: Exchange Rate Risk Management
9: FORECASTING EXCHANGE RATES
9-1 Why Firms Forecast Exchange Rates
9-2 Forecasting Techniques
9-3 Assessment of Forecast Performance
9-4 Accounting for Uncertainty Surrounding Forecasts
10: MEASURING EXPOSURE TO EXCHANGE RATE FLUCTUATIONS
10-1 Relevance of Exchange Rate Risk
10-2 Transaction Exposure
10-3 Economic Exposure
10-4 Translation Exposure
11: MANAGING TRANSACTION EXPOSURE
11-1 Policies for Hedging Transaction Exposure
11-2 Hedging Exposure to Payables
11-3 Hedging Exposure to Receivables
11-4 Limitations of Hedging
11-5 Alternative Methods to Reduce Exchange Rate Risk
Appendix 11: Nontraditional Hedging Techniques
12: MANAGING ECONOMIC EXPOSURE AND TRANSLATION EXPOSURE
12-1 Managing Economic Exposure
12-2 A Case Study on Hedging Economic Exposure
12-3 Managing Exposure to Fixed Assets
12-4 Managing Translation Exposure
Part 3 Integrative Problem: Exchange Risk Management
PART 4: Long-Term Asset and Liability Management
13: DIRECT FOREIGN INVESTMENT
13-1 Motives for Direct Foreign Investment
13-2 Benefits of International Diversification
13-3 Host Government Impact on DFI
13-4 Assessing Potential DFI
14: MULTINATIONAL CAPITAL BUDGETING
14-1 Subsidiary versus Parent Perspective
14-2 Input for Multinational Capital Budgeting
14-3 Multinational Capital Budgeting Example
14-4 Other Factors to Consider
14-5 Adjusting Project Assessment for Risk
Appendix 14: Incorporating International Tax Law in Multinational Capital Budgeting
15: INTERNATIONAL CORPORATE GOVERNANCE AND CONTROL
15-1 International Corporate Governance
15-2 International Corporate Control
15-3 Factors Affecting Target Valuation
15-4 A Case Study of Valuing a Foreign Target
15-5 Disparity in Foreign Target Valuations
15-6 Other Corporate Control Decisions
15-7 Corporate Control Decisions as Real Options
16: COUNTRY RISK ANALYSIS
16-1 Country Risk Characteristics
16-2 Measuring Country Risk
16-3 Incorporating Risk in Capital Budgeting
16-4 Preventing Host Government Takeovers
17: MULTINATIONAL CAPITAL STRUCTURE AND COST OF CAPITAL
17-1 Components of Capital
17-2 The MNC’s Capital Structure Decision
17-3 Subsidiary versus Parent Capital Structure Decisions
17-4 Multinational Cost of Capital
17-5 Cost of Capital across Countries
18: LONG-TERM DEBT FINANCING
18-1 Debt Denomination Decision of Foreign Subsidiaries
18-2 Debt Denomination Analysis: A Case Study
18-3 Loans Facilitate Financing
18-4 Debt Maturity Decision
18-5 Fixed versus Floating Rate Debt Decision
Part 4 Integrative Problem: Long-Term Asset and Liability Management
PART 5: Short-Term Asset and Liability Management
19: FINANCING INTERNATIONAL TRADE
19-1 Payment Methods for International Trade
19-2 Trade Finance Methods
19-3 Agencies That Facilitate International Trade
20: SHORT-TERM FINANCING
20-1 Sources of Foreign Financing
20-2 Financing with a Foreign Currency
20-3 Financing with a Portfolio of Currencies
21: INTERNATIONAL CASH MANAGEMENT
21-1 Multinational Working Capital Management
21-2 Centralized Cash Management
21-3 Optimizing Cash Flows
21-4 Investing Excess Cash
Part 5 Integrative Problem: Short-Term Asset and Liability Management
Final Self-Exam
Appendix A: Answers to Self-Test Questions
Appendix B: Supplemental Cases
Appendix C: Using Excel to Conduct Analysis
Appendix D: International Investing Project
Appendix E: Discussion in the Boardroom
Appendix F: Use of Bitcoin to Conduct International Transactions
Glossary
Index
Equip your students for success in international finance with the unrivaled depth of theory and practical applications presented in Madura's INTERNATIONAL FINANCIAL MANAGEMENT, 13E. Using a strong corporate perspective, it discusses a wide range of managerial topics and emphasizes the most recent changes in the international environment. Relevant examples, instructive diagrams, self-tests, and other learning features provide hands-on experience to help your students develop the skills they need to effectively manage in contemporary practice.
*Special prices for countries of South-Asia eff Madura, Florida Atlantic University
Dr Jeff Madura is Emeritus Professor of Finance at Florida Atlantic University. He has written several successful finance texts, including Financial Markets and Institutions (now in its 12th edition). His research on international finance has been published in numerous journals, including Journal of Financial and Quantitative Analysis; Journal of Banking and Finance; Journal of Money, Credit and Banking; Journal of International Money and Finance; Financial Management; Journal of Financial Research; Financial Review; Journal of International Financial Markets, Institutions and Money; Global Finance Journal; International Review of Financial Analysis and Journal of Multinational Financial Management. Dr Madura has received multiple awards for excellence in teaching and research, and he has served as a consultant for international banks, securities firms and other multinational corporations. He served as a director for the Southern Finance Association and the Eastern Finance Association, and he is also former president of the Southern Finance Association.
9781337099738 1337099732
GBA490760 bnb
International finance. International finance--Problems, exercises, etc. International business enterprises--Finance--Problems, exercises, etc. Foreign exchange. Foreign exchange--Problems, exercises, etc. General Management