国际关系课件An-Introduction-to-Multinational-Finance.ppt
- 【下载声明】
1. 本站全部试题类文档,若标题没写含答案,则无答案;标题注明含答案的文档,主观题也可能无答案。请谨慎下单,一旦售出,不予退换。
2. 本站全部PPT文档均不含视频和音频,PPT中出现的音频或视频标识(或文字)仅表示流程,实际无音频或视频文件。请谨慎下单,一旦售出,不予退换。
3. 本页资料《国际关系课件An-Introduction-to-Multinational-Finance.ppt》由用户(三亚风情)主动上传,其收益全归该用户。163文库仅提供信息存储空间,仅对该用户上传内容的表现方式做保护处理,对上传内容本身不做任何修改或编辑。 若此文所含内容侵犯了您的版权或隐私,请立即通知163文库(点击联系客服),我们立即给予删除!
4. 请根据预览情况,自愿下载本文。本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
5. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007及以上版本和PDF阅读器,压缩文件请下载最新的WinRAR软件解压。
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 国际关系 课件 An Introduction to Multinational Finance
- 资源描述:
-
1、1-1IOverview and BackgroundIIThe International Financial EnvironmentIIIDerivative Securities for Hedging Currency RiskIV Managing the Risks of Multinational OperationsVValuation and the Structure of Multinational OperationsVI International Portfolio Investment and Asset Pricing1-2Multinational finan
2、cial management is financial management conducted in more than one cultural,social,economic,or political environmentWell develop a framework for evaluating the opportunities,costs and risks of operating in the worlds markets for goods,services,and financial assets and liabilities1-3The gentle reader
3、 will never,never know what a consummate ass he can become,until he goes abroad.Mark Twain1-4Cross-border differences can affect all areas of business,particularly through differences in-Language&culture-Human resource management-Accounting-Marketing-Distribution-Logistics-Financial markets-Corporat
4、e governance-Other business conventions(legal,accounting,taxation,regulation,etc.)1-5The notes I handle no better than many pianists,but the pauses between the notes ah,that is where the art resides.Arthur Schnabel1-6Multinational finance is interdisciplinary within the field of financeMultinational
5、 financial managers must be familiar with-Foreign exchange and Eurocurrency markets-Derivatives securities-International financial(debt&equity)markets-International markets for real assets-International portfolio investment1-7Everything should be madeas simple as possible,but not simpler.Albert Eins
6、tein1-8Value=St ECFt/(1+it)tMultinational investment policy-Higher returns from existing investments-New investment opportunitiesMultinational financial policy-Reduced capital costs through access to international capital markets1-9Financial opportunities often involve a violation of one of these as
7、sumptionsFrictionless markets-No government intervention or taxes-No transactions,agency,or bankruptcy costsRational investors Equal access to costless informationEqual access to market prices1-10Frictionless markets ensure operational efficiencyRational investors with equal access to markets and in
8、formation ensure informational efficiency-That is,a market in which prices reflect all relevant informationTogether,these promote allocational efficiency1-111-12MNCs marginalcost of capitalDomestic firms investmentopportunity setDomestic firms marginalcost of capitalDomestic firmCapital budget%1-131
展开阅读全文
链接地址:https://www.163wenku.com/p-3434161.html