International finance has become one of the hottest topics in national debates with tariff wars and EU membership dominating the news. As multinational corporations (MNCs) continue to expand their operations globally, they must not only manage the advantages that ensue but also their exposure to risk. The fifth edition of Madura and Foxs International Financial Management offers students a comprehensive introduction to this fast-moving field, discussing not only exchange rate behaviour, exchange rate risk management, long- and short-term asset and liability management, but also topics such as different currencies, dissimilar political situations, imperfect markets and diversified opportunity sets. Engaging real-world examples, critical debate questions and project workshop activities equip students with the essential knowledge they need to succeed in international finance. This textbook is suitable for both final year undergraduate and masters level courses in international financial management. This title is available with MindTap, a flexible online learning solution that provides students with all the tools they need to succeed including an interactive eReader, engaging multimedia, practice questions, assessment materials, revision aids, and analytics to help you track their progress.
Part I The International Financial Environment
1 Multinational financial management: an overview
2 International flow of funds
3 International financial markets
4 Exchange rate changes
5 Currency derivatives
Part II Exchange Rate Behaviour
6 Exchange rate history and the role of governments
7 International arbitrage and interest rate parity
8 Relationships among inflation, interest rates and exchange rates
Part III Exchange Rate Risk Management
9 Forecasting exchange rates
10 Measuring exposure to exchange rate fluctuations
11 Managing transaction exposure
12 Managing economic exposure and translation exposure
Part IV Long-term Asset and Liability Management
13 Foreign direct investment
14 Country risk analysis
15 Long-term financing
16 Ethics
Part V Short-term Asset and Liability Management
17 Financing international trade
18 Short-term financing
19 International cash management
20 Concluding comments
Appendix A: Answers to self-test questions
Appendix B: Maths and statistics support
Glossary
Index
Online Additional Reading
1 Multinational Restructuring
2 Multinational Cost of Capital and Capital Structure
3 Multinational Capital Budgeting
