International Corporate Finance (Seventh Edition)

Author: Shapiro
Publisher:
Publish Date: 2005-07-01
Features: Overseas enterprises often focus on internal risk management while overlooking the opportunities available to multinational corporations. However, it is these opportunities that enable multinational corporations to engage in international diversification investments and raise funds at lower costs compared to purely domestic companies. This book addresses the aforementioned issues by introducing the environment of financial management for multinational corporations and methods to mitigate risks. From the perspective of multinational corporations, the book discusses fundamental factors influencing corporate decision-making, such as the impact of exchange rate fluctuations and differing inflation rates on currency values, different tax systems, multiple currency markets, segmented capital markets, and political risks, among others. It covers nearly all areas of corporate financial management, including working capital management, capital budgeting, capital costs, and capital structure. The book emphasizes concepts and practice while avoiding complex quantitative analysis. Combined with numerous case studies, the content is both novel and rich, making it suitable as a textbook for undergraduate and graduate students, as well as a training resource for bank managers and senior corporate executives.