Multinational business finance

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. 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 a firm's 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 15th Edition 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. Reach every student by pairing this text with MyLab Finance: MyLab™ is the teaching and learning platform that empowers you to reach every student. By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student.

Features: Clarify tough topics · Expanded - The Impossible Trinity's use as a unifying theoretical link across multiple subjects and chapters. · New - How the changing structure of the global foreign exchange market is posing challenges for private players and public regulators and overseers. · Expanded - Translation Exposure, a cross-section of international finance, economics, and accounting, now more effectively covers its wider theoretical and practical applications in industry. · Expanded - Discussion of subsidiary foreign funding sources and practices includes recent developments and changing access to capital. · New - The seismic changes introduced by the US effective on January 1, 2018, have been highlighted in exploration of how taxation alters the fundamental financial management activities of global companies. · Revised - The chapter on foreign direct investment and political risk now reflects the growing use of restrictions on convertibility, transferability, and the possibility of repudiation or expropriation. Boost critical-thinking skills · Learning Objectives are included in each chapter and are aligned with MyLab Finance. · Global Finance in Practice highlights how real firms and real managers deal with the never-ending complexity of executing global business deals in a changing marketplace. · Expanded - 250 End-of-Chapter Questions and Problems assess students' understanding of the material. · Numerous mathematical derivations are placed in appendices for selective use as students/instructors see fit.

Proven pedagogical tools · 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, is used. Critical elements are also delivered in a shorter framework. · A wealth of illustrations and exhibits provide a visual parallel to the concepts and content presented. · A running case on a hypothetical Ireland-based firm, Aidan Corporation, provides a cohesive framework for the multifaceted globalization process, and is reinforced in several end-of-chapter problems. · New - Seven of the 18 Mini-Cases are completely new to the 15th Edition and explore many of the edgier debates rising between global business, social policy, and corporate social responsibility.

New to this Edition: Clarify tough topics · The Impossible Trinity's use as a unifying theoretical link across multiple subjects and chapters. · How the changing structure of the global foreign exchange market is posing challenges for private players and public regulators and overseers. · Translation Exposure, a cross-section of international finance, economics, and accounting, now more effectively covers its wider theoretical and practical applications in industry. · Discussion of subsidiary foreign funding sources and practices includes recent developments and changing access to capital. · The seismic changes introduced by the US effective on January 1, 2018, have been highlighted in exploration of how taxation alters the fundamental financial management activities of global companies. · The chapter on foreign direct investment and political risk now reflects the growing use of restrictions on convertibility, transferability, and the possibility of repudiation or expropriation. Boost critical-thinking skills · 250 End-of-Chapter Questions and Problems assess students' understanding of the material. Proven pedagogical tools · Seven of the 18 Mini-Cases are completely new to the 15th Edition and explore many of the edgier debates rising between global business, social policy, and corporate social responsibility. Pearson MyLab™ Finance is not included. Students, if Pearson MyLab Finance is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. Pearson MyLab Finance should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

Authorized adaptation from the United States edition, entitled 'Multinational Business Finance', 15th edition, ISBN 9780134796550 by David K. Eiteman, Arthur I. Stonehill, and Michael H. Moffett, published by Pearson Education 2019.

PART I: GLOBAL FINANCIAL ENVIRONMENT: 1. Multinational Financial Management: Opportunities and Challenges -- 2. The International Monetary System -- 3. The Balance of Payments -- 4. Financial Goals and Corporate Governance -- PART II: FOREIGN EXCHANGE THEORY & MARKETS: 5. The Foreign Exchange Market -- 6. International Parity Conditions -- Appendix: An Algebraic Primer to International Parity Conditions -- 7. Foreign Currency Derivatives: Futures and Options -- Appendix: Foreign Currency Options Pricing Theory -- 8. Interest Rate Risk and Swaps -- 9. Foreign Exchange Rate Determination and Intervention -- PART III: FOREIGN EXCHANGE EXPOSURE: 10. Transaction Exposure -- Appendix: Complex Option Hedges -- 11. Translation Exposure -- Mini case: Electrolux of Sweden Currency Management New #2 -- 12. Operating Exposure -- Mini-Case: Rolls Royce & Brexit New #2 -- PART IV: FINANCING THE GLOBAL FIRM: 13. The Global Cost and Availability of Capital -- 14. Funding the Multinational Firm -- 15. Multinational Tax Management -- 16. International Trade Finance -- PART V: FOREIGN INVESTMENTS & INVESTMENT ANALYSIS: 17. Foreign Direct Investment & Political Risk -- 18. Multinational Capital Budge…