AE International Financial Management,
14th Edition

Jeff Madura

ISBN-13: 9789814915007 | ISBN-10: 9814915009

Copyright 2021

| Published 2020

| 736 pages

List Price USD $249.95


Equip your students for success in international finance with the unrivaled depth of theory and practical applications in Madura's INTERNATIONAL FINANCIAL MANAGEMENT, 14E. This best-selling resource builds on the fundamental principles of international corporate finance to provide the most current insights your students need to prosper in today's global business environment. Using a reader-friendly presentation, clear explanations, and a strong corporate perspective, this edition focuses on the important role of multinational corporations in global commerce. New content explores tradeoffs in international trade policies, the realities of popular theories, multinational capital budgeting, barriers to entry in international markets, and the most recent changes internationally. Numerous examples, self-tests, and hands-on exercises work with new MindTap online algorithmic practice problems, Excel Online problems, and Aplia to help students develop the skills and understanding for international finance.

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Meet the Authors

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Jeff Madura is presently Emeritus Professor of Finance at Florida Atlantic University. He has written several successful finance texts, including Financial Markets and Institutions (now in its 13th edition). His research on international finance has been published in numerous journals, including Journal of Financial and Quantitative Analysis; Journal of Banking and Finance; Journal of Money, Credit and Banking; Journal of International Money and Finance; Financial Management; Journal of Financial Research; Financial Review; Journal of International Financial Markets, Institutions, and Money; Global Finance Journal; International Review of Financial Analysis; and Journal of Multinational Financial Management. Dr Madura has received multiple awards for excellence in teaching and research, and he has served as a consultant for international banks, securities firms, and other multinational corporations. He served as a director for the Southern Finance Association and the Eastern Finance Association, and he is also former president of the Southern Finance Association.

  • NEW DISCUSSION DEMONSTRATES HOW TO ACCOUNT FOR UNCERTAINTY WHEN APPLYING MULTINATIONAL CAPITAL BUDGETING. Students examine the challenges and complexities of capital budgeting for a multinational corporation (MNC). Readers learn how to consider anticipated exchange rate effects, possible differences in the cost of funds at the subsidiary versus the parent company and country risk scenarios in foreign markets. Students learn how proper multinational capital budgeting accounts for a variety of possible outcomes that enable the MNC can make rational decisions in its use of capital.
  • NEW COVERAGE EXAMINES IMPLICIT BARRIERS TO ENTRY IN SOME INTERNATIONAL MARKETS. Students explore how many multinational corporations (MNCs) that wish to expand internationally are prevented from penetrating foreign markets because of implicit barriers to entry. Students also learn how these MNCs can adapt in order to circumvent implicit barriers.
  • NEW COVERAGE EXAMINES THEORY VERSUS REALITY FOR RELATIONSHIPS BETWEEN THE FISHER EFFECT, PURCHASING POWER PARITY (PPP), AND THE INTERNATIONAL FISHER EFFECT (IFE). Many theories of international finance, such as purchasing power parity and the international Fisher effect, are not consistent with reality, especially in short-run periods. This edition examines the reality of these theories and how multinational corporations (MNCs) must prepare to handle these discrepancies.
  • NEW DISCUSSION REVIEWS HOW TO MOST EFFECTIVELY MANAGE EXCHANGE RATE RISK. Students study how today's multinational corporations (MNCs) must properly measure their exposure to exchange rate risk before the organizations can decide whether and how to hedge. This edition provides a seamless flow from measurement to management of exchange rate risk.
  • NEW DISCUSSION EXPLORES TRADEOFFS IN ANY INTERNATIONAL TRADE POLICY. Most students have an opinion about the ideal trade policy that their home countries should implement. However, most students are not familiar with the many tradeoffs that need to be considered. This edition examines these tradeoffs in detail, which prompts engaging dialogue among students about the impact of international trade barriers.

Table of Contents

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1. Multinational Financial Management: An Overview.
2. International Flow of Funds.
3. International Financial Markets.
4. Exchange Rate Determination.
5. Currency Derivatives.
6. Government Influence on Exchange Rates.
7. International Arbitrage and Interest Rate Parity.
8. Relationships among Inflation, Interest Rates, and Exchange Rates.
9. Forecasting Exchange Rates.
10. Measuring Exposure to Exchange Rate Fluctuations.
11. Managing Transaction Exposure.
12. Managing Economic Exposure and Translation Exposure.
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.
19. Financing International Trade.
20. Short-Term Financing.
21. International Cash Management.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

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AE International Financial Management

  • ISBN-10: 9814915009
  • ISBN-13: 9789814915007

Price USD$ 249.95


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