Multinational Business Finance, Global Edition

Series
Pearson
Author
David K. Eiteman / Arthur I. Stonehill / Michael H. Moffett  
Publisher
Pearson
Cover
Softcover
Edition
14
Language
English
Total pages
656
Pub.-date
November 2015
ISBN13
9781292097879
ISBN
1292097876
Related Titles


Product detail

Product Price CHF Available  
9781292097879
Multinational Business Finance, Global Edition
91.80 approx. 7-9 days

eBook

You'll find the eBook here.:

Free evaluation copy for lecturers


Description

For courses in International Finance.

 

Authoritative, Comprehensive Coverage of Contemporary International Finance

Renowned for its authoritative, comprehensive coverage of contemporary international finance, Multinational Business Finance 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 Fourteenth Edition, now with MyFinanceLab, attempts to capture the rapid evolution of our global marketplace, taking a closer look at the types of organizations that permeate the widespread arena, competition and opportunities in emerging markets, and how financial leadership can integrate the strategic and financial challenges that global businesses face today.

 

MyFinanceLab® not included. Students, if MyFinanceLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyFinanceLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.


MyFinanceLab is an online homework, tutorial, and assessment product designed to personalize learning and improve results. With a wide range of interactive, engaging, and assignable activities, students are encouraged to actively learn and retain tough course concepts.

 

Please note that the product you are purchasing does not include MyFinanceLab.

 

MyFinanceLab

 

Join over 11 million students benefiting from Pearson MyLabs.

This title can be supported by MyfinanceLab, an online homework and tutorial system designed to test and build your understanding. Would you like to use the power of MyfinanceLab to accelerate your learning?  You need both an access card and a course ID to access MyfinanceLab.

 

These are the steps you need to take:

 

1.  Make sure that your lecturer is already using the system

Ask your lecturer before purchasing a MyLab product as you will need a course ID from them before you can gain access to the system.

2.  Check whether an access card has been included with the book at a reduced cost

If it has, it will be on the inside back cover of the book.

3. If you have a course ID but no access code, you can benefit from MyfinanceLab at a reduced price by purchasing a pack containing a copy of the book and an access code for MyfinanceLab (ISBN:9781292097985)

4.  If your lecturer is using the MyLab and you would like to purchase the product...

Go to www.myfinancelab.com to buy access to this interactive study programme.

 

For educator access, contact your Pearson representative. To find out who your Pearson representative is, visit www.pearsoned.co.uk/replocator

 


 

 

 

Features

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content, which is especially relevant to students outside the United States.

 

Clarify tough topics

  • 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.
  • EXPANDED! Use of fundamental theoretical foundations like that of the foreign currency/interest rate box diagram and the triangular structure of the Impossible Trinity.
  • NEW! Select second-level complexity of content is delivered in appendices devoted to topics such as algebraic derivation of international parity conditions, foreign currency option pricing theory, advanced topics in transaction exposure hedging, foreign subsidiary funding and capitalization, and more.
  • NEW! Nine chapter mini-cases explore the current global financial market’s many challenges, including:
    • Crowdfunding in Kenya (Chapter 1)
    • Iceland’s Financial Collapse and The Impossible Trinity (Chapter 2)
    • Global Remittances (Chapter 5)
    • KiKos (Knock-In & Knock-Out) Options and the South Korean Crisis (Chapter 7)
    • Argentina’s Sovereign Debt and the Vulture Funds (Chapter 8)
    • Russia Ruble Roulette: Economic Sanctions and the Oil Price Collapse (Chapter 9)
    • China Noah: A Chinese Firm Managing Indonesian Rupiah Risk (Chapter 10)
    • Apple’s Global iTax Strategy (Chapter 15)
    • Elan and Royalty Pharma: Discounted Cash Flow of Cross-Border Royalty Streams and M&A (Chapter 18)
  • NEW! A mix of currency notations and symbols include the increasingly common three-letter codes–USD, CNY, EUR–and the symbols of the past which live on in modern media–$, ¥, £, €, bridging the past with the future.

 

Boost critical thinking

  • NEW! Increasing focus on how multinational firms financially operate similarly and/or differently across industrial markets and emerging markets.
  • NEW! A chapter devoted solely to interest rate risk and interest rate risk management, with a focus on the use of interest rate and cross-currency swaps (Chapter 8).
  • NEW! Two-level chapter structure of content with primary chapter content focused on critical components of multinational corporate finance.
  • NEW! Select business and industry practices are delivered in Global Finance in Practice boxes in each chapter that both support and on occasion oppose theoretical principles in international finance.
  • 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. Spreadsheet solutions are available for instructors.
  • Emerging market content is integrated throughout, highlighting both the promises and challenges of financial management in a global marketplace.
  • Coverage of the global financial crises from the credit crisis of 2007-2009 to the current sovereign debt and financial crisis raging across Europe.

 

Support instructors

  • NEW! All chapters are organized around a series of Learning Objectives aligned with MyFinanceLab.

 

Proven pedagogical features

 

Carried over from previous editions, you’ll find:

  • A student-friendly writing style combined with a structured presentation of material, beginning with learning objectives for each chapter, and ending with a summarization of how those learning objectives were realized.
  • A wealth of illustrations and exhibits provide a visual parallel to the concepts and content presented.
  • running case on a hypothetical U.S.-based firm, Trident Corporation, provides a cohesive framework for the multifaceted globalization process, and is reinforced in several end-of-chapter problems.
  • Internet references are dispersed throughout the chapters in text and exhibits.

 

 

MyFinanceLab® not included. Students, if MyFinanceLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyFinanceLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

 

Specific features include:

  • NEW! 18 Online Mini-Case PowerPoint Presentations.
  • NEW! Online PowerPoint Presentation Slides, prepared by Sonya Britt of Kansas State University, provide lecture outlines and selected graphics from the text for each chapter.
  • NEW! Fully functional financial calculator inside MyFinanceLab and free access to the new financial calculator app, which students can download to their iPhone®, iPad®, or Android device.
  • NEW! Learning Aids. Instructors can now choose whether to show or hide all learning aids for specific questions. In addition, a learning aid that has been removed from an assignment can be made available for a particular question in that assignment.
  • NEW! Hallmark Features such as Personalized Learning Aids, like Help Me Solve This, View an Example, and instant feedback are available for further practice and mastery when students need the help most!
  • NEW! Worked Solutions provide step-by-step explanations on how to solve problems using the exact numbers and data that were presented in the problem. Instructors have access to the Worked Solutions in preview and review mode.
  • NEW! Personalized Study Plan provides opportunity for additional practice with immediate feedback, giving each student a personalized study path based on individual learning needs.
  • NEW! Learning CatalyticsGenerate class discussion, guide your lecture, and promote peer-to-peer learning with real-time analytics. MyFinanceLab with eText now provides Learning Catalytics–an interactive student response tool that uses students’ smartphones, tablets, or laptops to engage them in more sophisticated tasks and thinking. Instructors, you can:
    • Pose a variety of open-ended questions that help your students develop critical thinking skills
    • Monitor responses to find out where students are struggling
    • Use real-time data to adjust your instructional strategy and try other ways of engaging your students during class
    • Manage student interactions by automatically grouping students for discussion, teamwork, and peer-to-peer learning
  • NEW! Reporting Dashboard allows you to view, analyze, and report learning outcomes clearly and easily, and get the information you need to keep your students on track throughout the course. Available via the MyFinanceLab Gradebook and fully mobile-ready, the Reporting Dashboard presents student performance data at the class, section, and program levels in an accessible, visual manner.

 

New to this Edition

Clarify tough topics

  • 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.
  • EXPANDED! Use of fundamental theoretical foundations like that of the foreign currency/interest rate box diagram and the triangular structure of the Impossible Trinity.
  • Select second-level complexity of content is delivered in appendices devoted to topics such as algebraic derivation of international parity conditions, foreign currency option pricing theory, advanced topics in transaction exposure hedging, foreign subsidiary funding and capitalization, and more.
  • Nine chapter mini-cases explore the current global financial market’s many challenges, including:
    • Crowdfunding in Kenya (Chapter 1)
    • Iceland’s Financial Collapse and The Impossible Trinity (Chapter 2)
    • Global Remittances (Chapter 5)
    • KiKos (Knock-In & Knock-Out) Options and the South Korean Crisis (Chapter 7)
    • Argentina’s Sovereign Debt and the Vulture Funds (Chapter 8)
    • Russia Ruble Roulette: Economic Sanctions and the Oil Price Collapse (Chapter 9)
    • China Noah: A Chinese Firm Managing Indonesian Rupiah Risk (Chapter 10)
    • Apple’s Global iTax Strategy (Chapter 15)
    • Elan and Royalty Pharma: Discounted Cash Flow of Cross-Border Royalty Streams and M&A (Chapter 18)
  • A mix of currency notations and symbols include the increasingly common three-letter codes–USD, CNY, EUR–and the symbols of the past which live on in modern media–$, ¥, £, €, bridging the past with the future.

 

Boost critical thinking

  • Increasing focus on how multinational firms financially operate similarly and/or differently across industrial markets and emerging markets.
  • A chapter devoted solely to interest rate risk and interest rate risk management, with a focus on the use of interest rate and cross-currency swaps (Chapter 8).
  • Two-level chapter structure of content with primary chapter content focused on critical components of multinational corporate finance.
  • Select business and industry practices are delivered in Global Finance in Practice boxes in each chapter that both support and on occasion oppose theoretical principles in international finance.

 

Support instructors

  • All chapters are organized around a series of Learning Objectives aligned with MyFinanceLab.

 

MyFinanceLab® not included. Students, if MyFinanceLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyFinanceLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

 

Specific features include:

  • 18 Online Mini-Case PowerPoint Presentations.
  • Online PowerPoint Presentation Slides, prepared by Sonya Britt of Kansas State University, provide lecture outlines and selected graphics from the text for each chapter.
  • Fully functional financial calculator inside MyFinanceLab and free access to the new financial calculator app, which students can download to their iPhone®, iPad®, or Android device.
  • Learning Aids. Instructors can now choose whether to show or hide all learning aids for specific questions. In addition, a learning aid that has been removed from an assignment can be made available for a particular question in that assignment.
  • Hallmark Features such as Personalized Learning Aids, like Help Me Solve This, View an Example, and instant feedback are available for further practice and mastery when students need the help most!
  • Worked Solutions provide step-by-step explanations on how to solve problems using the exact numbers and data that were presented in the problem. Instructors have access to the Worked Solutions in preview and review mode.
  • Personalized Study Plan provides opportunity for additional practice with immediate feedback, giving each student a personalized study path based on individual learning needs.
  • Learning CatalyticsGenerate class discussion, guide your lecture, and promote peer-to-peer learning with real-time analytics. MyFinanceLab with eText now provides Learning Catalytics—an interactive student response tool that uses students’ smartphones, tablets, or laptops to engage them in more sophisticated tasks and thinking. Instructors, you can:
    • Pose a variety of open-ended questions that help your students develop critical thinking skills
    • Monitor responses to find out where students are struggling
    • Use real-time data to adjust your instructional strategy and try other ways of engaging your students during class
    • Manage student interactions by automatically grouping students for discussion, teamwork, and peer-to-peer learning
  • Reporting Dashboard allows you to view, analyze, and report learning outcomes clearly and easily, and get the information you need to keep your students on track throughout the course. Available via the MyFinanceLab Gradebook and fully mobile-ready, the Reporting Dashboard presents student performance data at the class, section, and program levels in an accessible, visual manner.

Table of Contents

Part I: Global Financial Environment
1. Multinational Financial Management: Challenges and Opportunities
2. The International Monetary System
3. The Balance of Payments
4. Financial Goals and Corporate Governance

Part II: Foreign Exchange Theory and Markets
5. The Foreign Exchange Market
6. International Parity Conditions
Appendix: An Algebraic Primer to Parity Conditions
7. Foreign Currency Futures and Options
Appendix: Foreign Currency Options Pricing Theory
8: Interest Rate Derivatives and Swaps
9. Exchange Rate Determination and Forecasting

Part III: Foreign Exchange Exposure
10. Transaction Exposure
Appendix: Complex Option Hedges
11. Translation Exposure
12. Operating Exposure

Part IV: Financing the Global Firm
13. The Global Cost and Availability of Capital
14. Raising Equity and Debt Globally
Appendix: Financial Structure of Foreign Subsidiaries
15. Multinational Tax Management
16. International Trade Finance

Part V: Foreign Investment Decisions
17. Foreign Direct Investment and Political Risk
18. Multinational Capital Budgeting and Cross-Border Acquisitions

Answers to select end-of-chapter questions
Glossary
Index