International Financial Management,
5th Edition

Part I The International Financial Environment
1 Multinational financial management: an overview
2 International flow of funds
3 International financial markets
4 Exchange rate changes
5 Currency derivatives

Part II Exchange Rate Behaviour
6 Exchange rate history and the role of governments
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 Foreign direct investment
14 Country risk analysis
15 Long-term financing
16 Ethics

Part V Short-term Asset and Liability Management
17 Financing international trade
18 Short-term financing
19 International cash management
20 Concluding comments

Appendix A: Answers to self-test questions
Appendix B: Maths and statistics support
Glossary
Index

Online Additional Reading
1 Multinational Restructuring
2 Multinational Cost of Capital and Capital Structure
3 Multinational Capital Budgeting

• Jeff Madura

  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.

• Roland Fox

  Roland Fox graduated from Manchester University and joined PriceWaterhouseCoopers. He subsequently worked in insurance and for a multinational company, Invensys, before taking up a lecturing post. He is currently a Senior Lecturer in Finance at Salford University. He has published a number of papers on management accounting, finance and education.

• Students can hone their critical thinking skills with an enhanced development of the theories of international trade including the Heckscher–Ohlin model.

• The arguments for and against tariffs are explored in more depth to help students understand the key issues as well as the theories and formulas that attempt to explain them.

• Updated coverage of currency swaps, options and derivative management gives students a clear understanding of these evolving topics.

• New sections cover international corporate governance, corruption within MNCs, and the legal foundations of international financial management to ensure students are up to date with the latest developments.

• MindTap, a flexible online learning solution, features an interactive eReader and a range of practice questions and assessment materials, including You Decide questions, longer case studies and video cases that allow students to explore realistic scenarios and test their problem-solving skills.

• A wide range of examples from the international finance sector illustrates key concepts and helps students to understand international financial management in action.

• Using the Web is a feature that supports students with further reading, research suggestions and a wider context of newly introduced topics.

• Critical debate sections help students relate chapter content to current affairs and topical discussions to equip students with a balanced view on key issues in international financial management.

• Self-test questions and applications as well as advanced questions help students to check they have fully understood the subject matter.

• Project workshops give students the opportunity to explore financial topics within a group and hone their critical thinking skills.

• An extended case study allows students to apply their knowledge and to explore international financial management in a real-world scenario.

• Small Business Dilemma’ assignments give students an understanding of international finance from the perspective of small- and medium-sized enterprises (SMEs) and highlight the differences between firms of all sizes.

• An interactive, updated MindTap is available for this edition including a variety of assessments and study tools that provide engaging content and build students’ confidence.

• A comprehensive companion website, including a Test Bank, Instructor’s Manual, Running your Own MNC and Discussion in the Boardroom activities, provides ample material for your teaching needs and challenges students to apply their knowledge to practical examples.

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.