Equip your students for success in international finance with the depth of theory and practical applications in this best-selling text. Madura's INTERNATIONAL FINANCIAL MANAGEMENT, 11E builds on the fundamental principles of corporate finance to provide the timely information and contemporary insights your students need to prosper in today's global business environment.
Well-known for its inviting reader-friendly style and clear explanations, this book introduces international finance with a focus on the important role of modern multinational corporations in global commerce. The book discusses a wide range of managerial topics using a strong corporate perspective. The latest updates throughout this edition emphasize the most recent financial changes and industry trends to prepare your students for contemporary practice. This edition also now highlights financial reform and its impact on international finance today with new call-outs and content.
New Online Articles as well as expanded real-world applications and clear, relevant examples provide the hands-on experience your students need to understand and effectively manage within the dynamic field of international finance. Instructive diagrams, learning features, and self-test opportunities further guide your students to the strong understanding of financial theory they'll need for international finance success.
Table of Contents
Part I: THE INTERNATIONAL FINANCIAL ENVIRONMENT.
1. Multinational Financial Management: An Overview.
2. International Flow of Funds.
3. International Financial Markets.
4. Exchange Rate Determination.
5. Currency Derivatives.
Part II: EXCHANGE RATE BEHAVIOR.
6. Government Influence on Exchange Rates.
7. International Arbitrage and Interest Rate Parity.
8. Relationships among Inflation, Interest Rates, and Exchange Rates.
Part III: EXCHANGE RATE RISK MANAGEMENT.
9. Forecasting Exchange Rates.
10. Measuring Exposure to Exchange Rate Fluctuations.
11. Managing Transaction Exposure.
12. Managing Economic Exposure and Translation Exposure.
Part IV: LONG-TERM ASSET AND LIABILITY MANAGEMENT.
13. Direct Foreign Investment.
14. Multinational Capital Budgeting.
15. International Corporate Governance and Control.
16. Country Risk Analysis.
17. Multinational Cost of Capital and Capital Structure.
18. Long-Term Debt Financing (new chapter name).
Part V: SHORT-TERM ASSET AND LIABILITY MANAGEMENT.
19. Financing International Trade.
20. Short-Term Financing.
21. International Cash Management.
Appendix A: Answers to Self-Test Questions.
Appendix B: Supplemental Cases.
Appendix C: Using Excel to Conduct Analysis.
Appendix D: International Investing Project.
Appendix E: Discussion in the Boardroom.
Direct Exchange Rates over Time (inside front and back covers).