Moffett, Thunderbird School of Global: Arthur I. Stonehill, University of. Fundamentals of Multinational Finance is intended for use in undergraduate.

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Fundamentals of Multinational Finance is intended for use in undergraduate International Financial Management, International Business Finance, or International Finance courses A focused, streamlined approach to creating a global financial management strategy Tomorrow’s business leaders will be expected to comprehend global markets and lead their organizations through a constantly changing global environment. By grounding concepts in the context of illuminating case studies and real-world examples, Fundamentals of Multinational Finance familiarizes students with the fundamental concepts and tools necessary to implement an effective global financial management strategy. This edition includes the many new financial management challenges faced by today’s business leaders–while still providing students with a streamlined text that gets straight to the important concepts. Focus on today’s challenges This edition highlights the management challenges faced by today’s business leaders by emphasizing the following three points: • Organizations. Multinational enterprises (MNEs) apply to organizations of all kinds—the publicly traded, the privately held, the state-run, the state-owned organizations—all forms that permeate global business today.

Country markets like that of China and India are no longer the sources of low-cost labor for global manufacturers. They are increasingly the focus for sales and growth of all firms, manufacturing and services, for earnings and growth. Although they may still be categorized as “emerging,” they are the economic drivers and primary challenges for global finance and global financial management. • Financial leadership. The leaders of MNEs face numerous foreign exchange and political risks.

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These risks can be daunting, but they also present opportunities for creating value if properly understood. These opportunities and risks are most effectively understood in the context of the global business itself, and the ability of management to integrate the strategic and financial challenges that business faces.

Provide students with updated information • NEW: Increased detail is given on changing currency regimes, theory, and practice, as emerging market currencies become ever-greater contributors to global cash flow. • NEW: Readers are introduced to the challenges faced by governments and central banks as cryptocurrencies like Bitcoin have shaken the very foundations of traditional definitions of “currency.” • NEW: New content is included throughout the book on the growing complexity of major emerging markets which are more open to capital movements, but also subject to sudden government or central bank intervention in pursuit of sovereign goals and objectives.

• NEW: The authors increased coverage of the multitude of different currency regimes and devices used by sovereigns over their currencies and markets, currencies like the Chinese yuan, the Russian ruble, the Indian rupee, the Turkish lira, and the South African rand. • NEW: Throughout the book, a mix of currency notations and symbols are used—the authors use both the common three-letter currency codes and the traditional currency symbols (which are seeing a resurgence as countries like Russia and Turkey have introduced new “currency identities” of their own). Get students straight to the point with streamlined content This edition provides students with a shorter text that gets them straight to the information they need to know. The creation of a more intense exploration of global finance without sacrificing depth or detail was achieved through the integration of a number of concepts and topics. • NEW: Chapters on the international monetary system cover both the fundamental principles of defining a currency with the complexities of macroeconomic policy and digital exchange.