跨国财务管理11章.pptxVIP

It can be well-known that economic integration sweeps all over the world, corporate internationalization is the foregone conclusion of economic integration.How can you get a job in the previous corporations? Course MaterialsEun and Resnick, 2010, International Financial Management, China Machine Press, 5th Edition (4rd Edition OK)Resources and Readings in International Finance: International Finance Resources: /internationalYahoo Finance Readings in International Finance: /The EconomistCourse ObjectiveIt is a new field of modern times corporation financial management.To provide a framework for making corporate financial decisions in an international context.Course OverviewForeignInvestmentDecisionsInternational Capital BudgetingSynthesisGlobalizationSourcingCapital inGlobal MarketsMultinational Cash ManagementRequirements and GradingClass participation and Cases (20%)Final Exam (80%)Chapter 1 Globalization the Multinational FirmChapter objectives:Understand why it is important to study international finance.Distinguish international finance from domestic finance.OutlineWhat’s multinational finance？ What’s Special about multinational Finance?Why do we need to study financial management of multinational firm?Goals for International Financial ManagementGlobalization of the World EconomyMultinational CorporationsKey wordsForeign exchange riskPolitical riskMarket imperfectionExpanded opportunity setMultinational corporation (MNC)外汇风险政治风险市场不完善扩大的市场机遇跨国公司1. What’s multinational finance？ Financial management is mainly concerned with how to optimally make various corporate financial decisions, such as those pertaining to investment, financing, dividend policy,and working capital management, with a view to achieving a set of given corporate objectives. Multinational finance is concerned with financial management in an international setting.2. What’s Special about multinational Finance?2.1 Foreign Exchange Risk The risk that foreign currency profits may evaporate in dol