For international finance courses.
Multinational Business Finance
trains the leaders of tomorrow''s multinational enterprises to recognize and capitalize on the unique characteristics of global markets. As such, the authors have embedded real—world mini—cases throughout, applying the chapter concepts to the types of situations managers of real multinational firms encounter.
The
16th Edition
attempts to capture the rapid evolution of our global marketplace. It takes a closer look at the types of organizations that permeate the arena, and the competition, opportunities and challenges global businesses face today.
Global Finance in Practice boxes
highlight how real firms and managers deal with the complexity of executing global business deals in a changing marketplace.
Mini—Cases
explore many of the edgier debates rising between global business, social policy and corporate social responsibility.
250 End—of—Chapter Problems
assess students'' understanding.
The authors use the
Impossible Trinity as a unifying theoretical link
across multiple subjects and chapters.
A student—friendly writing style, structured presentation of material,
and
delivery of critical elements in a shorter framework
aid student learning.
A running case
on a hypothetical Ireland—based firm provides a cohesive framework for the multifaceted globalization process.
NEW: Material examines how the changing structure of the global foreign exchange market
is posing challenges for private players and public regulators and overseers.
REVISED:
Chapter 4 on
corporate governance
, including elements of ownership, financial objectives, and the growing role of
activist investors
, has been revised. Of special note is the growth of
stakeholder capitalism
and its multiple objective framework as compared to stockholder wealth maximization.
NEW:
In depth examination of the motivations, methods and metrics associated with
currency manipulation
is included. A new mini—case looks at whether China is or isn''t a currency manipulator.
NEW: Discussions of emerging market regimes
, many recognizing they are trade—dependent economies in search of currency stability in lieu of attracting other capital account elements such as foreign direct investment, is included.
EXPANDED: Coverage of international taxation
places emphasis on the constantly changing US tax rates and rules.
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.