国际金融市场管理Ch14MultinationalCapitalBudgeting教学教材演示幻灯片.pptVIP

;Chapter Objectives;Subsidiary versus Parent Perspective;Subsidiary versus Parent Perspective;Online Application;Remitting Subsidiary Earnings to the Parent;A parent’s perspective is appropriate when evaluating a project, since any project that can create a positive net present value for the parent should enhance the firm’s value. However, one exception to this rule may occur when the foreign subsidiary is not wholly owned by the parent.;Input for MultinationalCapital Budgeting;The following forecasts are usually required:;What is the expected economic growth rate for a particular country? ;Capital Budgeting Analysis;Factors to Consider in Multinational Capital Budgeting;Factors to Consider in Multinational Capital Budgeting;Factors to Consider in Multinational Capital Budgeting;Adjusting Project Assessmentfor Risk;Impact of Multinational Capital Budgetingon an MNC’s Value;Subsidiary versus Parent Perspective Tax Differentials Restricted Remittances Excessive Remittances Exchange Rate Movements Input for Multinational Capital Budgeting Multinational Capital Budgeting;Chapter Review;Chapter Review