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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<$$$> | |