601016270 - GLOBAL EDITION MULTINATIONAL BUSINESS FINANCE...

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GLOBAL EDITION MULTINATIONAL BUSINESS FINANCE 12TH EDITION David K. Arthur I. Michael H. EITEMAN STONEHILL MOFFETT University of California, Oregon State University Thunderbird School Los Angeles and the University of Global Management of Hawaii at Manoa Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo
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Contents PART I Global Financial Environment 1 Chapter 1 Globalization and the MyBtiBnatiomaO Enterprise 2 Globalization and Creating Value in the Multinational Enterprise 3 The Theory of Comparative Advantage 4 What Is Different about Global Financial Management? 7 Market Imperfections: A Rationale for the Existence of the Multinational Firm 8 The Globalization Process 9 Summary Points 13 MINI-CASE: Porsche Changes Tack 13 Questions • Problems • Internet Exercises 19 Chapter 2 Financial Goals and Corporate Governance 22 Who Owns the Business? 22 What Is the Goal of Management? 24 Corporate Governance 28 Summary Points 40 MINI-CASE: Governance Failure at Enron 41 Questions n Problems n Internet Exercises 45 Chapter 3 IDie international Monetary System 50 History of the International Monetary System 50 Contemporary Currency Regimes 56 Emerging Markets and Regime Choices 62 The Birth of a European Currency: The Euro 64 Exchange Rate Regimes: What Lies Ahead? 69 Summary Points 70 MINI-CASE: The Revaluation of the Chinese Yuan 71 Questions • Problems • Internet Exercises 74 Chapter 4 International Business Transactions: The BaBance of Payments 78 Typical Balance of Payments Transactions: China 79 Fundamentals of Balance of Payments Accounting 80 The Accounts of the Balance of Payments 81 The Capital and Financial Account 83 The Balance of Payments in Total 89 The Balance of Payments Interaction with Key Macroeconomic Variables 91 Trade Balances and Exchange Rates 94 Capital Mobility 97 Summary Points 99 MINI-CASE: Turkey's Kriz (A): Deteriorating Balance of Payments 100 Questions • Problems D Internet Exercises 102 Chapter 5 Current Multinational Financial Challenges: The Credit Crisis of 2007-2009 106 The Seeds of Crisis: Subprime Debt 106 The Transmission Mechanism: Securitization and Derivatives of Securitized Debt 109 The Fallout: The Crisis of 2007 and 2008 120 xiv
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Contents xv
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This note was uploaded on 03/18/2012 for the course FINANCE 20008 taught by Professor Ammar during the Spring '12 term at Abilene Christian University.

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601016270 - GLOBAL EDITION MULTINATIONAL BUSINESS FINANCE...

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