07-0809_Global_Financial___Management.ppt

Fundamentals of International Business Chapter 9 Global Financial Management Contents Global Financial Goals International Capital Budgeting Capital Structure: International Dimensions Foreign Exchange Exposure International Accounting International Taxation Financing Import / Export Operations Key Terms and Concepts Maximization of shareholder value 股东价值最大化 Net present value (NPV) 净现值 Capital budget 资本预算 Capital outlays 资本支出/基建投资 Operating cash flows 营业性现金流 Terminal cash flows 终点现金流 Capital structure 资本结构 Debt-equity structure 债务股本结构 Working capital management 运营资本管理 Financing cash flows 融资性现金流 Operating cash flows 营业性现金流 Netting （支付）净值 Cash pooling 现金总汇 Lead 提前结汇 Lag 延期结汇 Re-invoicing 再开发票 Internal bank 内部财务公司 Transaction exposure 交易风险 Economic exposure 经济风险 (Operating exposure 经营风险) Translation exposure 换算/转换风险 (Accounting exposure 会计风险） Hedging 期现对抵交易 Accounting diversity 会计标准的多样性 Direct taxes 直接税 Indirect taxes 间接税 Value-added tax (VAT) 增值税 Letter of credit 信用证 Bill of lading 提单 Bank draft 银行（承兑）汇票 Trade draft 商业汇票 Accounts receivable 应收帐 Accounts payable 应付帐 Other Terms and Expressions Offshore centers 境外金融中心 Corporate taxes 公司税 International business and investment 国际商务与投资 Currency exposure 货币风险 Accounting practices 会计方法/模式 U.S.-based multinational firms 总部设在美国的跨国公司 Taxation liabilities 纳税义务 Import-export operations 进出口业务 The European Commission 欧洲委员会 Tax havens 逃税港 Agricultural produce 农产品 The Organization for Economic Cooperation and Development (OECD) 经济合作与发展组织 Money laundering 洗钱 Money laundry 洗钱 Financial crimes 金融犯罪 Drug-trafficking industry 毒品走私业 International mafia organizations 国际黑手党组织 Financial management activities 财务管理活动 Tax burden 税费负担 Cash inflows / outflows 现金流入 / 流出 Real estate 不动产/ 房地产 Salvage value 残值/ 残余价值 Resale value 转卖价值 Oppo