International Financial Management, 5/e

1. Financial Management In A Global Context

2. Objectives Of The Firm And The Impact Of Risk

3 The Nature And Measurement Of Exposure And Risk

4. The Balance Of Payments

5. The International Monetary System

6. Global Financial Markets And Interest Rates

7. The Foreign Exchange Market

8. Forwards, Swaps And Interest Parity

9. Currency And Interest Rate Futures

10. Currency Options

11. Exchange Rate Determination And Forecasting

12. Corporate Exposure Management Policy

13. Hedging, Speculation And Management Of Transactions Exposure

14. Management Of Operating Exposure

15. Management Of Interest Rate Exposure Fras, Interest Rate Caps And Floors

16. Financial Swaps And Credit Derivatives

17. Short Term Financial Management In A Multinational Corporation

18. International Equity Investment

19. Long-Term Borrowing In The Global Capital Markets

20. International Project Appraisal

New Features

The book has been designed primarily for MBA students specializing in finance as well as participants in other master's level courses in financial management. The reader is expected to have had some exposure to basics of corporate finance and international economics. The book draws upon practical examples of decision problems faced by finance managers and corporate treasurers and can serve as a good reference text for corporate finance managers as well as managers with careers in the treasury function of both non-finance corporations and financial institutions. The primary purpose of the book is to provide a good overview of the international monetary system, understanding and managing currency exposure and risk including currency derivatives, accessing global financial markets, and evaluating foreign direct investment projects. It also provides a brief introduction to interest rate derivatives and credit derivatives. The new edition is aimed at making the book up-to-date by bringing in new data and by discussing new developments in the markets and regulatory policies. The structure of the book has also been slightly changed to sharpen the focus of the book. ? Almost all data pertaining to key indicators in international finance like capital flows, growth of world trade volume, exchange rates, BOP, FDI, interest rates, international equity finance, and so on have been updated with latest published/research data. ? The discussion on managing international financial risk has been revamped. New derivatives instruments like non-deliverable forward contracts, credit derivatives, and so on, have been discussed in appropriate chapters. ? The effect of the falling USD in recent times in international finance have been duly highlighted. Many existing examples have been reworked and newer examples have been added in this light. Some of the new examples are on the Euro as well. ? The changes in the regulatory environment have been highlighted appropriately. For example, the impact of implementation of Basle-II recommendation on the international banking sector, latest guidelines on external commercial borrowings, guidelines for IMF funding, mechanism of opening and executing letters of credit, latest changes in regulations governing the Indian Forex market have been included or expanded in this edition. ? New concept questions will be added in relevant chapters so that the students have better practice opportunity and instructors can give assignments. ? The web supplements will include PowerPoint slides and the solutions of all unsolved problems (only for instructors)