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| Environment of International Financial Management | |
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| Introduction: Multinational Enterprise and Multinational Financial Management | |
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| The Rise of the Multinational Corporation | |
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| The Internationalization of Business and Finance | |
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| Multinational Financial Management: Theory and Practice | |
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| Outline of the Book | |
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| The Origins and Consequences of International Trade | |
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| The Determination Of Exchange Rates | |
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| Setting the Equilibrium Spot Exchange Rate | |
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| Expectations and the Asset Market Model of Exchange Rates | |
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| The Fundamentals of Central Bank Intervention | |
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| The Equilibrium Approach to Exchange Rates | |
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| Summary and Conclusions | |
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| The International Monetary System | |
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| Alternative Exchange Rate Systems | |
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| A Brief History of the International Monetary System | |
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| The European Monetary System and Monetary Union | |
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| Emerging Market Currency Crises | |
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| Summary and Conclusions | |
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| Parity Conditions in International Finance and Currency Forecasting | |
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| Arbitrage and the Law of One Price | |
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| Purchasing Power Parity | |
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| The Fisher Effect | |
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| The International Fisher Effect | |
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| Empirical Evidence | |
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| Interest Rate Parity Theory | |
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| The Relationship Between the Forward Rate and the Future Spot Rate | |
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| Currency Forecasting | |
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| Summary and Conclusions | |
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| The Balance of Payments and International Economic Linkages | |
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| Balance-of-Payments Categories | |
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| The International Flow of Goods, Services, and Capital | |
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| Coping with the Current-Account Deficit | |
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| Summary and Conclusions | |
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| Country Risk Analysis | |
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| Measuring Political Risk | |
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| Economic and Political Factors Underlying Country Risk | |
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| Country Risk Analysis in International Banking | |
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| Summary and Conclusions | |
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| Foreign Exchange and Derivatives Markets | |
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| The Foreign Exchange Market | |
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| Organization of the Foreign Exchange Market | |
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| The Spot Market | |
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| The Forward Market | |
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| Summary and Conclusions | |
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| Currency Futures and Options Markets | |
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| Futures Contracts | |
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| Currency Options | |
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| Reading Currency Futures and Options Prices | |
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| Summary and Conclusions | |
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| Option Pricing Using Black-Scholes | |
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| Put-Call Option Interest Rate Parity | |
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| Swaps and Interest Rate Derivatives | |
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| Interest Rate and Currency Swaps | |
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| Interest Rate Forwards and Futures | |
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| Structured Notes | |
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| Summary and Conclusions | |
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| Foreign Exchange Risk Management | |
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| Measuring and Managing Translation and Transaction Exposure | |
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| Alternative Measures of Foreign Exchange Exposure | |
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| Alternative Currency Translation Methods | |
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| Transaction Exposure | |
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| Designing a Hedging Strategy | |
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| Managing Translation Exposure | |
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| Managing Transaction Exposure | |
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| Summary and Conclusions | |
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| Measuring and Managing Economic Exposure | |
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| Foreign Exchange Risk and Economic Exposure | |
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| The Economic Consequences of Exchange Rate Changes | |
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| Identifying Economic Exposure | |
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| Calculating Economic Exposure | |
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| An Operational Measure of Exchange Risk | |
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| Managing Operating Exposure | |
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| Summary and Conclusions | |
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| Financing the Multinational Corporation | |
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| Chapt<$$$> | |