Fundamentals of Multinational Finance, Global Edition, 7th edition

Published by Pearson (August 28, 2023) © 2023

  • Michael H. Moffett Thunderbird School of Global Management at Arizona State University
  • Arthur I. Stonehill University of Hawaii at Manoa
  • David K. Eiteman Retired; UCLA Anderson

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Details
  • A print copy
  • Free shipping
Features
  • Real-world examples
  • Case studies

Title overview

For international finance courses.

Real-world examples introduce students to global financial management strategy. Fundamentals of Multinational Finance helps prepare tomorrow's business leaders to comprehend global markets and lead organisations through a constantly changing global environment. Via illuminating case studies and real-world examples, students are introduced to the fundamental concepts and tools necessary to implement an effective global financial management strategy.

The 7th Edition reflects the juxtaposed forces of an increasingly digital global marketplace and a resurgence of nationalist culture and identity.

Key features

  • A running case on hypothetical US firm, Trident Corporation, provides a cohesive framework for the multifaceted globalization process.
  • End-of-chapter Mini-Cases illustrate the chapter content and extend it to the multinational financial business environment.
  • Global Finance in Practice boxes provide accounts of real-world business practices and give insight in the subtle nuances of the conduct of financial management.
  • End-of-chapter questions and problems assess students' understanding of the material. All problems are solved using spreadsheet solutions.
  • A wealth of illustrations and exhibits provide a visual parallel to the concepts and content presented.
  • A student-friendly writing style is combined with a structured presentation of material.

New to this edition

  • New Content helps students navigate major emerging markets, new market currencies, government intervention and more.
    • Interest Rate Risk and Swaps. A new chapter details the various interest rate risks of the MNE and the practical use of interest rate and cross currency swaps.
    • The Foreign Exchange Market and Digital Trade. New material explores how the changing structure of the global foreign exchange market (trading, communication, and settlement) is posing challenges for private players and public regulators and overseers.
    • International Taxation. Integrally linked to a world of digital commerce, multinational tax management continues to rise in its significance in multinational financial management.
    • Political Risk and Financial Losses. The chapter on foreign direct investment and political risk has been revised to reflect the growing use of restrictions on convertibility, transferability, and the possibility of repudiation or expropriation.
  • 11 New Mini-Cases explore many of the edgier debates rising between global business, social policy, and corporate social responsibility. Topics include Argentine debt and vulture investors, Apple's global profit positioning and tax structure, and Brexit and its potential impact on Rolls Royce.

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Table of contents

  • PART 1: GLOBAL FINANCIAL ENVIRONMENT
  • Multinational Financial Management: Challenges & Opportunities
  • The International Monetary System
  • The Balance of Payments
  • Financial Goals and Corporate Governance
  • PART 2: FOREIGN EXCHANGE THEORY & MARKETS
  • The Foreign Exchange Market
  • International Parity Conditions
  • Appendix: An Algebraic Primer to Parity Conditions
  • Foreign Currency Futures & Options
  • Interest Rate Derivatives & Swaps
  • Exchange Rate Determination & Forecasting
  • PART 3: FOREIGN EXCHANGE EXPOSURE
  • Transaction Exposure
  • Translation Exposure
  • Operating Exposure
  • PART 4: FINANCING THE GLOBAL FIRM
  • The Global Cost and Availability of Capital
  • Funding the Multinational Firm
  • Multinational Tax Management
  • International Trade Finance
  • PART 5: FOREIGN INVESTMENTS & OPERATIONS
  • Foreign Direct Investment & Political Risk
  • Multinational Capital Budgeting & Cross-Border Acquisitions
  • Answers to selected end-of-chapter problems

Author bios

Michael H. Moffett is Continental Grain Professor in Finance at the Thunderbird School of Global Management, where he has been since 1994. He has authored, co-authored, or contributed to a number of books, articles, and other publications. He has co-authored two books with Art Stonehill and David Eiteman: Multinational Business Finance, and this book, Fundamentals of Multinational Finance.

Arthur I. Stonehill is a Professor of Finance and International Business, Emeritus, at Oregon State University, where he taught for 24 years (1966-1990). Professor Stonehill received a B.A. (History) from Yale University (1953) an M.B.A. from Harvard Business School (1957), and a Ph.D. in Business Administration from the University of California, Berkeley (1965). He has authored or co-authored nine books and twenty-five other publications.

David K. Eiteman is Professor Emeritus of Finance at the John E. Anderson Graduate School of Management at UCLA. Professor Eiteman received a B.BA. (Business Administration) from the University of Michigan, Ann Arbor (1952); M.A. (Economics) from the University of California, Berkeley (1956); and a Ph.D. (Finance) from Northwestern University (1959). He has authored or co-authored four books and twenty-nine other publications.

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