Overview

MULTINATIONAL FINANCE provides a concise treatment of the investment and financial decisions facing the multinational corporation. The text provides a framework for evaluating the opportunities, costs and risks of multinational operations so readers can see beyond the algebra and terminology to general principles. It is distinguished by its logical organization, superior pedagogy, and clear, non-technical writing style. It includes the traditional international finance topics of foreign exchange, currency and derivatives markets, currency risk (transaction, operating and translation) management, country risk, taxation, capital structure, cost of capital, and international portfolio diversification. It also has unique chapters on multinational treasury management, options on real assets, corporate governance, asset pricing, and international portfolio management.

Full Product Details

Author:   Kirt Butler (Michigan State University)
Publisher:   Cengage Learning, Inc
Imprint:   South-Western
Edition:   3rd edition
Dimensions:   Width: 20.80cm , Height: 3.00cm , Length: 25.10cm
Weight:   1.400kg
ISBN:  

9780324177459

ISBN 10:   0324177453
Pages:   688
Publication Date:   30 June 2003
Audience:   College/higher education ,  Tertiary & Higher Education
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

PART ONE. OVERVIEW AND BACKGROUND Chapter 1. An Introduction to Multinational Finance Chapter 2. World Trade and the International Monetary System PART TWO. THE INTERNATIONAL FINANCIAL ENVIRONMENT Chapter 3. International Financial Markets Chapter 4. The Foreign Exchange Market and Currency Risk Management Chapter 5. The International Parity Conditions PART THREE. DERIVATIVE SECURITIES FOR CURRENCY RISK MANAGEMENT Chapter 6. Currency Futures and Futures Markets Chapter 7. Currency Options and Options Markets Chapter 8. Currency Swaps and Swaps Markets PART FOUR. MANAGING THE RISKS OF MULTINATIONAL OPERATIONS Chapter 9. The Rationale for Hedging Currency Risk Chapter 10. Multinational Treasury Management Chapter 11. Managing Transaction Exposure to Currency Risk Chapter 12. Managing Operating Exposure to Currency Risk Chapter 13. Managing Translation Exposure to Currency Risk Chapter 14. Country Risk Management PART FIVE. VALUATION AND THE STRUCTURE OF MULTINATIONAL OPERATIONS Chapter 15. Cross-Border Capital Budgeting Chapter 16. Multinational Capital Structure and Cost of Capital Chapter 17. Taxes and Multinational Corporate Strategy Chapter 18. Real Options and Cross-Border Investment Chapter 19. Corporate Governance and the International Market for Corporate Control PART SIX. INTERNATIONAL PORTFOLIO INVESTMENT AND ASSET PRICING Chapter 20. International Portfolio Diversification Chapter 21. International Asset Pricing and Portfolio Chapter 22. Managing an International Investment Portfolio

Reviews

Butler is certainly a strong candidate for future adoption. On the whole itas easy to read and follow and covers most of the important topics in an integrated fashion.

PART 1: OVERVIEW AND BACKGROUND. 1. An Introduction to Multinational Finance. 2. World Trade and the International Monetary System. PART 2: THE INTERNATIONAL FINANCIAL ENVIRONMENT. 3. International Financial Markets. 4. Foreign Exchange Eurocurrencies, and Currency Risk Management. 5. The International Parity Conditions. PART 3: DERIVATIVE SECURITIES FOR CURRENCY RISK MANAGEMENT. 6. Currency Futures and Futures Markets. 7. Currency Options and Options Markets. 8. Currency Swaps and Swaps Markets. PART 4: MANAGING THE RISKS OF MULTINATIONAL OPERATIONS. 9. The Rationale for Hedging Currency Risks. 10. Multinational Treasury Management. 11. Managing Transaction Exposure to Currency Risk. 12. Managing Operating Exposure to Currency Risk. 13. Managing Translation Exposure to Currency Risk. 14. Country Risk Management. PART 5: VALUATION AND THE STRUCTURE OF MULTINATIONAL OPERATIONS. 15. Cross-Border Capital Budgeting. 16. Multinational Capital Structure and Cost of Capital. 17. Taxes and Multinational Corporate Strategy. 18. Real Options and Cross-Border Investment. 19. Corporate Governance and the International Market for Corporate Control. PART 6: INTERNATIONAL PORTFOLIO INVESTMENT AND ASSET PRICING. 20. International Portfolio Diversification. 21. International Asset Pricing. 22. Managing an International Investment Portfolio.

Author Information

Kirt C. Butler is an Associate Professor in the Department of Finance at Michigan State University where he teaches multinational finance and global strategy in MSU¿s Eli Broad College of Business. He joined the faculty in 1985 after completing his doctorate in finance at Michigan State University. He also holds a M.S. degree in Computer Science from the College of Engineering and a B.A. in Psychology from the Honors College at Michigan State University. Professor Butler¿s research has appeared in a variety of academic and practitioner journals including the Journal of Finance, Journal of Accounting Research, Financial Analysts Journal, Journal of Portfolio Management, Journal of International Money and Finance, and the Journal of International Business Studies, among others. Professor Butler is also a Sensei of Okinawan Shido-kan (Shorin Ryu) Karate, with more than 25 years of experience and a rank of sixth degree black belt.

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