Book description
An in-depth treatment of the international financial arena
Multinational Finance, Fifth Edition assumes the viewpoint of
the financial manager of a multinational corporation with investment
or financial operations in more than one country. This book provides a
framework for evaluating the many opportunities, costs, and risks of
multinational operations in a manner that allows readers to see beyond
the math and terminology surrounding this field to realize the general
principles of multinational financial management.
Logically organized and written in a clear, non-technical style, this
book includes information on international finance topics such as
foreign exchange, currency and derivatives markets, currency risk
(transaction, operating, and translation) management, country risk,
international taxation, capital structure, cost of capital, and
international portfolio diversification. It also offers unique
chapters on multinational treasury management, the rationale for
hedging currency risks, options on real assets, international
corporate governance, asset pricing, and portfolio management.
- Emphasizes the managerial aspects of multinational finance with
graphs, figures, and the use of numerous real-world examples
- Expands on the treatment of parity disequilibria to include
exchange rate expectations that differ from parity and a project's
operating exposure to currency risk
- Provides an overview and comparison of the various derivative
instruments and their use in risk hedging
- Contains valuable insights on valuation and management of a
multinational corporation's investments
If you're looking for the best way to gain a firm understanding of
multinational finance, look no further than the fifth edition of this
classic text.
KIRT C. BUTLER is an Associate Professor in the Department of
Finance and Director of Study Abroad for the Eli Broad College of
Business at Michigan State University, where he teaches multinational
finance and global strategy. His research has appeared in a variety of
academic and practitioner journals, including the Journal of
Finance, Journal of Accounting Research, Financial Analysts Journal,
Journal of Portfolio Management, Journal of International Money and
Finance, and the Journal of International Business Studies,
among others. Professor Butler's academic research has been profiled
in the New York Times, Time, and Money magazines, and on
the CNN and CNBC websites. He has a PhD in finance and also holds an
MBA in finance from the College of Business, an MS in computer science
from the College of Engineering, and a BA in psychology from the
Honors College, all from Michigan State University.
