ch12_2 - 1 Multinational Financial Management Alan Shapiro...

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Unformatted text preview: 1 Multinational Financial Management Alan Shapiro 9 th Edition J.Wiley & Sons Power Points by Joseph F. Greco, Ph.D. California State University, Fullerton CHAPTER 12 International Financing and National Capital Markets 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 4 CORPORATE SOURCES AND USES OF FUNDS C. Debt Instruments Used 1. Commercial Bank Loans 2. Bonds a. Publicly issued b. Privately issued 5 CORPORATE SOURCES AND USES OF FUNDS A. Financial Markets v. Financial Intermediaries Whether international fund flows take place through financial intermediation or securitization depends on the relative costs and risks of the two mechanisms—cost of gathering information on foreign firms, for instance 6 1. Securitization a. Definition: replacing bank loans with securities issued in public markets....
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This note was uploaded on 01/24/2011 for the course FINS 5516 taught by Professor A during the Three '10 term at University of New South Wales.

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ch12_2 - 1 Multinational Financial Management Alan Shapiro...

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