Multinational Financial Management, 10th Edition

ISBN: 9781118572382

Multinational Financial Management, 10th Edition provides a conceptual framework within which the key financial decisions of the multinational firm can be analysed. Rather than focusing solely on the risks of organisations venturing abroad, this text explores the opportunities available to multinational firms. This textbook gives you the tools you need to excel in your multinational or international finance course.


  • Focus on corporate practice through numerous real-world examples and vignettes that provide actual applications of financial concepts and theories.
  • Extensive use of examples and applications scattered throughout the body of most chapters.
  • Incorporates the changes in the world financial system, particularly the ongoing European sovereign debt crisis and the continuing development of China and India.
Alan Shapiro received his B.A. in Mathematics from Rice University and a Ph.D. in Economics from Carnegie Mellon University. With over 40 years of experience in corporate and international financial management, Alan has consulted for a variety of organisations and has taught at several institutions, including the University of Pennsylvania and UCLA. Alan is currently the Ivadelle and Theodore Johnson Professor of Banking and Finance Emeritus at the University of Southern California.
Part I Environment of International Financial Management
1. Introduction: Multinational Enterprise and Multinational Financial Management
2. The Determination of Exchange Rates
3. The International Monetary System
4. Parity Conditions in International Finance and Currency Forecasting
5. The Balance of Payments and International Economic Linkages
6. Country Risk Analysis

Part II Foreign Exchange and Derivatives Markets
7. The Foreign Exchange Market
8. Currency Futures and Options Markets
9. Swaps and Interest Rate Derivatives

Part III Foreign Exchange Risk Management
10. Measuring and Managing Translation and Transaction Exposure
11. Measuring and Managing Economic Exposure

Part IV Financing the Multinational Corporation
12. International Financing and National Capital Markets
13. The Euromarkets
14. The Cost of Capital for Foreign Investments

Part V Foreign Investment Analysis
15. International Portfolio Investment
16. Corporate Strategy and Foreign Direct Investment
17. Capital Budgeting for the Multinational Corporation

Part VI Multinational Working Capital Management
18. Financing Foreign Trade
19. Current Asset Management and Short-Term Financing
20. Managing the Multinational Financial System

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