Description
By (author) Geert J Bekaert; By (author) Bekaert, Geert J; By (author) Hodrick, Robert J.
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For undergraduate and graduate students enrolled in an international finance course.
An approach that blends theory and practice with real-world data analysis.
International Financial Management seamlesslyblends theory with the analysis of data, examples, and practical case situations. Overall, Bekaert/Hodrick equips future business leaders with the analytical tools they need to understand the issues, make sound international financial decisions, and manage the risks that businesses may face in today’s competitive global environment.
All data in this edition has been updated to reflect the most recent information, including coverage on the latest research, global financial crisis, and emerging markets.
Table of contents:
PART I: INTRODUCTION TO FOREIGN EXCHANGE MARKETS AND RISKS
Chapter 1: Globalization and the Multinational Corporation
Chapter 2: The Foreign Exchange Market
Chapter 3: Forward Markets and Transaction Exchange Risk
Chapter 4: The Balance of Payments
Chapter 5: Exchange Rate Systems
PART II: INTERNATIONAL PARITY CONDITIONS AND EXCHANGE RATE DETERMINATION
Chapter 6: Interest Rate Parity
Chapter 7: Speculation and Risk in the Foreign Exchange Market
Chapter 8: Purchasing Power Parity and Real Exchange Rates
Chapter 9: Measuring and Managing Real Exchange Risk
Chapter 10: Exchange Rate Determination and Forecasting
PART III: INTERNATIONAL CAPITAL MARKETS
Chapter 11: International Debt Financing
Chapter 12: International Equity Financing
Chapter 13: International Capital Market Equilibrium
Chapter 14: Political and Country Risk
PART IV: INTERNATIONAL CORPORATE FINANCE
Chapter 15: International Capital Budgeting
Chapter 16: Additional Topics in International Capital Budgeting
Chapter 17: Risk Management and the Foreign Currency Hedging Decision
Chapter 18: Financing International Trade
Chapter 19: Managing Net Working Capital
PART V: FOREIGN CURRENCY DERIVATIVES
Chapter 20: Foreign Currency Futures and Options
Chapter 21: Interest Rate and Foreign Currency Swaps
New feature:
NEW! Provide the latest information :
- The newest research ideas can be found throughout the second edition. Examples include:
- Chapter 7, which contains the discussion of novel research on why the carry trade makes money and the risks involved.
- Chapter 10, which presents a discussion of new research on exchange rate determination, explaining why exchange rates are so hard to predict.
- Chapter 16, which contains a new terminal value calculation.
- The global financial crisis has roiled markets and economies, which is why its ramifications are explored in several chapters of this text. Highlights include:
- Chapter 1 contains a general discussion of the crisis.
- Chapter 2 explores the effects of the crisis on transactions costs in the foreign exchange market.
- Chapter 6 covers the breakdown of Covered Interest Rate Parity during the crisis and Chapter 18 examines its effects on trade finance.
- Chapter 20 reflects on how emerging market companies dabbling in exotic options got burned when the dollar became a safe haven during the crisis.
- The increased importance of emerging markets is prominently featured in the new edition. The so-called BRIC’s (Brazil, Russia, India, China) account for increasingly larger portion of the global economy, trade, and financial markets, with China dominating many debates about business. Several of the new illustrati
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