Multinational Business Finance, Global Edition
Autor Arthur Stonehill, David Eiteman, Michael Moffetten Limba Engleză Paperback – 15 aug 2023
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. As such, the authors have embedded real-world mini-cases throughout, applying the chapter concepts to the types of situations managers of real multinational firms encounter.
The 16th Edition attempts to capture the rapid evolution of our global marketplace. It takes a closer look at the types of organizations that permeate the arena, and the competition, opportunities and challenges global businesses face today.
Hallmark features of this title
Boost critical-thinking skills
- Global Finance in Practice boxes highlight how real firms and managers deal with the complexity of executing global business deals in a changing marketplace.
- Mini-Cases explore many of the edgier debates rising between global business, social policy and corporate social responsibility.
- 250 End-of-Chapter Problems assess students' understanding.
Proven pedagogical tools
- The authors use the Impossible Trinity as a unifying theoretical link across multiple subjects and chapters.
- A student-friendly writing style, structured presentation of material, and delivery of critical elements in a shorter framework aid student learning.
- A running case on a hypothetical US-based firm provides a cohesive framework for the multifaceted globalization process.
An introduction of new concepts and components in global business today
- NEW: Material examines how the changing structure of the global foreign exchange market is posing challenges for private players and public regulators and overseers.
- REVISED: Chapter 4 on corporate governance, including elements of ownership, financial objectives, and the growing role of activist investors, has been revised. Of special note is the growth of stakeholder capitalism and its multiple objective framework as compared to stockholder wealth maximization.
- NEW: In depth examination of the motivations, methods and metrics associated with currency manipulation is included. A new mini-case looks at whether China is or isn't a currency manipulator.
- NEW: Discussions of emerging market regimes, many recognizing they are trade-dependent economies in search of currency stability in lieu of attracting other capital account elements such as foreign direct investment, is included.
- EXPANDED: Coverage of international taxation places emphasis on the constantly changing US tax rates and rules.
- REVISED: The chapter on foreign direct investment and political risk has been revised to reflect the growing use of restrictions on convertibility, transferability, and the possibility of repudiation or expropriation.
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Specificații
ISBN-13: 9781292445960
ISBN-10: 1292445963
Pagini: 640
Dimensiuni: 204 x 247 x 30 mm
Greutate: 1.16 kg
Ediția:16. Auflage
Editura: Pearson Education
ISBN-10: 1292445963
Pagini: 640
Dimensiuni: 204 x 247 x 30 mm
Greutate: 1.16 kg
Ediția:16. Auflage
Editura: Pearson Education
Notă biografică
David K. Eiteman is Professor Emeritus of Finance at the John E. Anderson Graduate School of Management at UCLA. He has also held teaching or research appointments at the Hong Kong University of Science & Technology, Showa Academy of Music (Japan), the National University of Singapore, Dalian University (China), the Helsinki School of Economics and Business Administration (Finland), University of Hawaii at Manoa, University of Bradford (UK), Cranfield School of Management (UK), and IDEA (Argentina). He is a former president of the International Trade and Finance Association, Society for Economics and Management in China, and Western Finance Association.
Professor Eiteman received a BBA (Business Administration) from the University of Michigan, Ann Arbor (1952); MA (Economics) from the University of California, Berkeley (1956); and a PhD (Finance) from North-western University (1959).
He has authored or co-authored 4 books and 29 other publications. His articles have appeared in The Journal of Finance, The International Trade Journal, Financial Analysts Journal, Journal of World Business, Management International, Business Horizons, MSU Business Topics, Public Utilities Fortnightly, and others.
Arthur I. Stonehill was a Professor of Finance and International Business, Emeritus, at Oregon State University, where he taught for 24 years (1966 to 1990). During 1991 to 1997 he held a split appointment at the University of Hawaii at Manoa and Copenhagen Business School. From 1997 to 2001 he continued as a Visiting Professor at the University of Hawaii at Manoa. He has also held teaching or research appointments at the University of California, Berkeley; Cranfield School of Management (UK); and the North European Management Institute (Norway). He was a former president of the Academy of International Business, and was a western director of the Financial Management Association.
Professor Stonehill received a BA (History) from Yale University (1953); an MBA from Harvard Business School (1957); and a PhD in Business Administration from the University of California, Berkeley (1965). He was awarded honorary doctorates from the Aarhus School of Business (Denmark, 1989), the Copenhagen Business School (Denmark, 1992), and Lund University (Sweden, 1998).
He authored or co-authored 9 books and 25 other publications. His articles appeared in Financial Management, Journal of International Business Studies, California Management Review, Journal of Financial and Quantitative Analysis, Journal of International Financial Management and Accounting, International Business Review, European Management Journal, The Investment Analyst (UK), National�konomisk Tidskrift (Denmark), Sosial�konomen (Norway), Journal of Financial Education, and others.
Michael H. Moffett is Continental Grain Professor in Finance at the Thunderbird School of Global Management at Arizona State University, where he has been since 1994. He also has held teaching or research appointments at Oregon State University (1985 to 1993); the University of Michigan, Ann Arbor (1991 to 1993); the Brookings Institution, Washington, DC; the University of Hawaii at Manoa; the Aarhus School of Business (Den-mark); the Helsinki School of Economics and Business Administration (Finland), the International Centre for Public Enterprises (Yugoslavia); and the University of Colorado, Boulder.
Professor Moffett received a BA (Economics) from the University of Texas at Austin (1977), an MS (Resource Economics) from Colorado State University (1979), an MA (Economics) from the University of Colorado, Boulder (1983), and PhD (Economics) from the University of Colorado, Boulder (1985).
He has authored, co-authored, or contributed to a number of books, articles, case studies, and other publications. He has co-authored 2 books with Art Stonehill and David Eiteman, Fundamentals of Multinational Finance, and this book, Multinational Business Finance. His articles have appeared in the Journal of Financial and Quantitative Analysis, Journal of Applied Corporate Finance, Journal of International Money and Finance, Journal of International Financial Management and Accounting, Contemporary Policy Issues, Brookings Discussion Papers in International Economics, and others. He has contributed to a number of collected works including the Handbook of Modern Finance, the International Accounting and Finance Handbook, and the Encyclopedia of International Business. He is also co-author of 2 books in multinational business with Michael Czinkota and Ilkka Ronkainen, International Business (7th Edition) and Global Business (4th Edition), and The Global Oil and Gas Industry: Strategy, Finance, and Management, with Andrew Inkpen.
Professor Eiteman received a BBA (Business Administration) from the University of Michigan, Ann Arbor (1952); MA (Economics) from the University of California, Berkeley (1956); and a PhD (Finance) from North-western University (1959).
He has authored or co-authored 4 books and 29 other publications. His articles have appeared in The Journal of Finance, The International Trade Journal, Financial Analysts Journal, Journal of World Business, Management International, Business Horizons, MSU Business Topics, Public Utilities Fortnightly, and others.
Arthur I. Stonehill was a Professor of Finance and International Business, Emeritus, at Oregon State University, where he taught for 24 years (1966 to 1990). During 1991 to 1997 he held a split appointment at the University of Hawaii at Manoa and Copenhagen Business School. From 1997 to 2001 he continued as a Visiting Professor at the University of Hawaii at Manoa. He has also held teaching or research appointments at the University of California, Berkeley; Cranfield School of Management (UK); and the North European Management Institute (Norway). He was a former president of the Academy of International Business, and was a western director of the Financial Management Association.
Professor Stonehill received a BA (History) from Yale University (1953); an MBA from Harvard Business School (1957); and a PhD in Business Administration from the University of California, Berkeley (1965). He was awarded honorary doctorates from the Aarhus School of Business (Denmark, 1989), the Copenhagen Business School (Denmark, 1992), and Lund University (Sweden, 1998).
He authored or co-authored 9 books and 25 other publications. His articles appeared in Financial Management, Journal of International Business Studies, California Management Review, Journal of Financial and Quantitative Analysis, Journal of International Financial Management and Accounting, International Business Review, European Management Journal, The Investment Analyst (UK), National�konomisk Tidskrift (Denmark), Sosial�konomen (Norway), Journal of Financial Education, and others.
Michael H. Moffett is Continental Grain Professor in Finance at the Thunderbird School of Global Management at Arizona State University, where he has been since 1994. He also has held teaching or research appointments at Oregon State University (1985 to 1993); the University of Michigan, Ann Arbor (1991 to 1993); the Brookings Institution, Washington, DC; the University of Hawaii at Manoa; the Aarhus School of Business (Den-mark); the Helsinki School of Economics and Business Administration (Finland), the International Centre for Public Enterprises (Yugoslavia); and the University of Colorado, Boulder.
Professor Moffett received a BA (Economics) from the University of Texas at Austin (1977), an MS (Resource Economics) from Colorado State University (1979), an MA (Economics) from the University of Colorado, Boulder (1983), and PhD (Economics) from the University of Colorado, Boulder (1985).
He has authored, co-authored, or contributed to a number of books, articles, case studies, and other publications. He has co-authored 2 books with Art Stonehill and David Eiteman, Fundamentals of Multinational Finance, and this book, Multinational Business Finance. His articles have appeared in the Journal of Financial and Quantitative Analysis, Journal of Applied Corporate Finance, Journal of International Money and Finance, Journal of International Financial Management and Accounting, Contemporary Policy Issues, Brookings Discussion Papers in International Economics, and others. He has contributed to a number of collected works including the Handbook of Modern Finance, the International Accounting and Finance Handbook, and the Encyclopedia of International Business. He is also co-author of 2 books in multinational business with Michael Czinkota and Ilkka Ronkainen, International Business (7th Edition) and Global Business (4th Edition), and The Global Oil and Gas Industry: Strategy, Finance, and Management, with Andrew Inkpen.
Cuprins
PART I: GLOBAL FINANCIAL ENVIRONMENT
- Multinational Financial Management: Challenges and Opportunities
- International Monetary System
- The Balance of Payments
- Financial Goals, Corporate Governance and the Market for Corporate Control
- The Foreign Exchange Market
- International Parity Conditions
- Appendix: An Algebraic Primer to International Parity Conditions
- Foreign Currency Derivatives: Futures & Options
- Appendix: Currency Option Pricing Theory
- Interest Rate Risk and Swaps
- Foreign Exchange Rate Determination & Intervention PART III: FOREIGN EXCHANGE EXPOSURE
- Transaction Exposure
- Appendix A: Complex Option Hedges
- Appendix B: The Optimal Hedge Ratio and Hedge Effectiveness
- Translation Exposure
- Operating Exposure PART IV: FINANCING THE GLOBAL FIRM
- Global Cost and Availability of Capital
- Funding the Multinational Firm
- Multinational Tax Management
- International Trade Finance PART V: FOREIGN INVESTMENTS AND INVESTMENT ANALYSIS
- Foreign Direct Investment & Political Risk
- Multinational Capital Budgeting & Cross-Border Acquisitions
- Answers to select end-of-chapter problems