Description

Multinational Finance is an authoritative and comprehensive description of the theory and practice of international finance and its management. This fifth edition builds on the strengths of previous editions, offering a user-friendly guide to the subject that moves through the basics to the advanced with clarity and conciseness. The content has been thoroughly revised to incorporate the most up to date information in terms of markets, coverage of new financial instruments, and the latest empirical work (in particular in relation to discount rates and required rates of return). A key feature of this edition is its strong European orientation, a theme that runs throughout the book and makes Multinational Finance unique in its field.

Multinational Finance is recommended for undergraduate, MBA and other postgraduate courses in international financial management taken as a part of a degree programme in finance or international business. The book also caters for professionals in the financial field.

Features

Strong European orientation with full coverage of markets and issues relating to this region make the book ideal for courses in Europe.

Plenty of exercises and multiple choice questions are provided for each part to allow students to track their own progress.

Each chapter ends with an extensive summary, sign-posted with bullet points to ease the revision of key points.

Much-praised, comprehensive glossary.

New to this Edition

Up-to-date coverage of international accounting (IFRS) and recent empirical studies.

Foreign exchange coverage fully revised with Euro currency referenced throughout the book.

Improved coverage of essential areas and issues such as international capital budgeting, and country risk bring students entirely up-to-date.

Two-colour text design greatly improves readability.

Companion website with extra support for both lecturers and students.

New end of chapter questions with answers provided at the back of the book.

Table of Contents

Preface and acknowledgements

PART A: ESSENTIAL BACKGROUND

1. Introduction

2. The international monetary system

3. Corporate finance around the world

PART B: FOREIGN EXCHANGE

4. Exchange rates: the basic equations

5. Foreign exchange markets

6. The balance of payments

7. Theories and empiricism on exchange rate movements

8. Definitions of foreign exchange risk

9. Financial accounting and foreign exchange

TEST BANK 1

Exercises

Multiple choice questions

PART C: HEDGING

10. Does foreign exchange exposure matter?

11. Principles of exposure management

12. Internal techniques of exposure management

13. External techniques of exposure management

TEST BANK 2

Exercises

Multiple choice questions

PART D: DERIVATIVES

14. Swaps

15. Financial futures and foreign exchange

16. Options

17. Currency options

18. Interest rate risk

19. Financial engineering

TEST BANK 3

Exercises

Multiple choice questions

PART E: INTERNATIONAL CAPITAL BUDGETING

20. The internationalization process

21. Exchange controls and corporate tax in international investment

22. The international capital budgeting framework

23. The international capital budgeting model

24. International investment: what discount rate?

25. Country risk analysis and political risk

26. International capital budgeting: the practicalities

TEST BANK 4

Exercises

Multiple choice questions

PART F: INTERNATIONAL FINANCING

27. International debt instruments

28. Financing the multinational and its overseas subsidiaries

29. Cash management

30. Project finance

31. Financing international trade and minimizing credit risk

PART G: MISCELLANEOUS

32. Miscellaneous issues in multinational finance

TEST BANK 5

Exercises

Multiple choice questions

Suggested answers to selected exercises Suggested answers to end of chapter questions

Solutions to multiple choice questions

Appendix 1: Present value of $1

Appendix 2: Present value of $1 received annually for n years

Appendix 3: Table of areas under the normal curve

Appendix 4: Black and Scholes value of call option expressed as a percentage of the share price

Appendix 5: Present value of $1 with a continuous discount rate, r , for T periods.

Values of e-rt Appendix 6: SWIFT codes

Glossary

References

Index

Back Cover

Multinational Finance

is an authoritative and comprehensive description of the theory and practice of international finance and its management.

This fifth edition builds on the strengths of previous editions, offering a user-friendly guide to the subject that moves through the basics to the advanced with clarity and conciseness. The content has been thoroughly revised to incorporate the most up-to-date information in terms of markets, coverage of new financial instruments, and the latest empirical work (in particular in relation to discount rates and required rates of return). A key feature of this edition is its strong European orientation, a theme that runs throughout the book and makes Multinational Finance unique in its field.

New to this edition:

Up-to-date coverage of international accounting (IFRS) and recent empirical studies.

Foreign exchange coverage fully revised with euro currency referenced throughout the book.

Improved coverage of essential areas and issues such as international capital budgeting and country risk bring students entirely up to date.

Two-colour text design greatly improves readability.

Companion Website with extra support for both lecturers and students at www.booksites.net/buckley.

New end of chapter questions with answers provided at the back of the book.

Features:

Strong European orientation with full coverage of markets and issues relating to this region make the book ideal for courses in Europe.

Plenty of exercises and multiple choice questions are provided for each part to allow students to track their own progress.

Each chapter ends with an extensive summary, sign-posted with bullet points to ease the revision of key points.

Much-praised, comprehensive glossary.

Multinational Finance is recommended for undergraduate, MBA and other postgraduate courses in international financial management taken as a part of a degree programme in finance or international business. The book also caters for professionals in the financial field.

Dr Adrian Buckley is Emeritus Professor of Finance at Cranfield School of Management. He has been a visiting professor at numerous universities around the globe and has lectured in every continent in the world. Prior to entering academic life, Adrian worked in investment banking, management consulting and as Group Treasurer to a FTSE-100 company. He has been a director of various companies, ranging from the construction industry to treasury consultancy. He is the author of the widely-adopted text Multinational Finance, now in its fifth edition. He has published thirty two papers in refereed journals, over one hundred articles in the technical press plus forty case studies.