Multinational Business Finance, Global Edition Paperback – 7 October 2015

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