ch12 - Multinational Financial Management Alan Shapiro 9th...

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1 Multinational Financial Management Alan Shapiro 9 th Edition Power Points by Joseph F. Greco, Ph.D. California State University, Fullerton
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CHAPTER 12 International Financing and National Capital Markets
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3 CORPORATE SOURCES AND USES OF FUNDS I. CORPORATE SOURCES AND USES OF FUNDS A. 3 General Sources of Funds: 1. Internally-generated cash 2. Short-term external funds 3. Long-term external funds B. Forms of Securities 1. Equity 2. Debt: the most preferred form
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4 CORPORATE SOURCES AND USES OF FUNDS C. Debt Instruments Used 1. Commercial Bank Loans 2. Bonds a. Publicly issued b. Privately issued
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5 CORPORATE SOURCES AND USES OF FUNDS D. Financial Markets v. Financial Intermediaries 1. Securitization a. Definition: replacing bank loans with securities issued in public markets. b. Reflects reduction in access costs due to 1.) Technological improvements 2.) Globalization
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6 CORPORATE SOURCES AND USES OF FUNDS E. Corporate Governance differences exist and fall into two general categories: 1. Anglo-Saxon (AS) Model 2. Continental European and Japanese (CEJ) Model example: keiretsus
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ch12 - Multinational Financial Management Alan Shapiro 9th...

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