Coupling in-depth coverage of essential theory with practical applications, Madura's INTERNATIONAL FINANCIAL MANAGEMENT, 13e, builds on the fundamental principles of corporate finance to provide the timely information and contemporary insights you need to prosper in today's global business environment. This best-seller introduces international finance with a focus on the important role that modern multinational corporations play in global commerce and discusses a wide range of managerial topics using a strong corporate perspective. Clear explanations, real-world applications, relevant examples, self-tests, and hands-on applications help you maximize your course success. In addition, MindTap Finance enables you to connect with your instructor, organize coursework, and access a range of study tools, including an e-book and apps -- all in one place.
Part I: THE INTERNATIONAL FINANCIAL ENVIRONMENT.
1. Multinational Financial Management: An Overview.
2. International Flow of Funds.
3. International Financial Markets.
4. Exchange Rate Determination.
5. Currency Derivatives.
Part II: EXCHANGE RATE BEHAVIOR.
6. Government Influence on Exchange Rates.
7. International Arbitrage and Interest Rate Parity.
8. Relationships among Inflation, Interest Rates, and Exchange Rates.
Part III: EXCHANGE RATE RISK MANAGEMENT.
9. Forecasting Exchange Rates.
10. Measuring Exposure to Exchange Rate Fluctuations.
11. Managing Transaction Exposure.
12. Managing Economic Exposure and Translation Exposure.
Part IV: LONG-TERM ASSET AND LIABILITY MANAGEMENT.
13. Direct Foreign Investment.
14. Multinational Capital Budgeting.
15. International Corporate Governance and Control.
16. Country Risk Analysis.
17. Multinational Capital Structure and Cost of Capital.
18. Long-Term Debt Financing.
Part V: SHORT-TERM ASSET AND LIABILITY MANAGEMENT.
19. Financing International Trade.
20. Short-Term Financing.
21. International Cash Management.
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Jeff Madura
Dr. Jeff Madura is Emeritus Professor of Finance at Florida Atlantic University. The recipient of multiple awards for excellence in teaching and research, Dr. Madura has written several successful finance textbooks. His research on financial markets and institutions has been published in numerous journals, including Journal of Financial and Quantitative Analysis; Journal of Money, Credit and Banking; Financial Management; Journal of Financial Research; and Financial Review. Dr. Madura has served as a consultant for commercial banks, securities firms, and numerous other financial institutions. In addition, he is a former director of the Eastern Finance Association and a former director and president of the Southern Finance Association.
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Delivering the most current coverage available, all chapters in the 13th edition have been thoroughly updated to include recent developments in international financial markets as well as the latest tools used to manage a multinational corporation.
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In Chapter 2, "International Flow of Funds," the balance of payments accounting coverage has been revised to make it consistent with the recent format used by the U.S. government for reporting specific accounts.
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Chapter 6, "Government Influence on Exchange Rates," now includes sections on black markets for currencies as well as the recent challenges of the European Central Bank to stabilize financial conditions in the eurozone.
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Chapter 8, "Relationships among Inflation, Interest Rates, and Exchange Rates," has been reworked to synthesize the relationships between the Fisher effect, purchasing power parity, and the international Fisher effect.
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Chapter 10, "Measuring Exposure to Exchange Rate Fluctuations," includes an improved flow between sections and gives more emphasis to the value at risk method for assessing exchange rate exposure.
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Chapter 14, "Multinational Capital Budgeting," now includes more detailed information about how managers (and students) can use electronic spreadsheets to facilitate the international capital budgeting process and apply sensitivity analysis.
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Reflecting the latest from real-world practice, INTERNATIONAL FINANCIAL MANAGEMENT heavily emphasizes the use of practical examples in every chapter.
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End-of-chapter self-test questions and problems, a self-test midterm exam, and a self-test final exam help students assess their understanding of concepts -- and maximize their course success.
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The robust selection of chapter applications gives students plenty of hands-on practice and includes Point/Counter-Point exercises evaluating two alternative points of view, Critical Thinking Questions to prompt student short essays, Continuing Cases, Small Business Dilemmas, Internet/Excel Exercises, and Supplemental Cases.
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Each part ends with an Integrative Problem based on concepts covered within chapters contained in that part -- helping students build on the skills they are learning.
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Hands-on Experiential Exercises give students additional real-world practice. Discussion In The Boardroom features place students in the position of a board member of a multinational corporation. Running Your Own MNC requires students to use their entrepreneurial skills to create their own small multinational corporation. The International Investing Project enables students to make international portfolio decisions.
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Timely updates throughout the 13th edition reflect the most current research and trends from the field. Up-to-date content prepares your students to deal with the most recent financial changes, developments, and emerging issues in international finance.
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