International Financial Management(2版)

For undergraduate and graduate students enrolled in an international finance course.
　An approach that blends theory and practice with real-world data analysis. International Financial Management seamlesslyblends theory with the analysis of data, examples, and practical case situations. Overall, Bekaert/Hodrick equips future business leaders with the analytical tools they need to understand the issues, make sound international financial decisions, and manage the risks that businesses may face in today’s competitive global environment.

NEW! Provide the latest information:
1.The newest research ideas can be found throughout the second edition. Examples include:
(1)Chapter 7, which contains the discussion of novel research on why the carry trade makes money and the risks involved.
(2)Chapter 10, which presents a discussion of new research on exchange rate determination, explaining why exchange rates are so hard to predict.
(3)Chapter 16, which contains a new terminal value calculation.
2.The global financial crisis has roiled markets and economies, which is why its ramifications are explored in several chapters of this text. Highlights include:
(1)Chapter 1 contains a general discussion of the crisis.
(2)Chapter 2 explores the effects of the crisis on transactions costs in the foreign exchange market.
(3)Chapter 6 covers the breakdown of Covered Interest Rate Parity during the crisis and Chapter 18 examines its effects on trade finance.
(4)Chapter 20 reflects on how emerging market companies dabbling in exotic options got burned when the dollar became a safe haven during the crisis.
3.The increased importance of emerging markets is prominently featured in the new edition. The so-called BRIC’s (Brazil, Russia, India, China) account for increasingly larger portion of the global economy, trade, and financial markets, with China dominating many debates about business. Several of the new illustration boxes and examples provide insights about the Chinese economy and its place in global business. Examples include:
(1)Chapter 1 discusses the attempted take-over of a US oil company by a Chinese company.
(2)The point-counterpoint in Chapter 4 discusses the balance of payments imbalances between the US and China, and their consequences.
(3)Chapters 5 and 12 discuss China’s capital controls and its equity markets, respectively.
(4)Chapter 6 explains how Brazil’s capital controls affect Covered Interest Rate Parity.

Geert Bekaert

現職：Columbia University

Robert J. Hodrick

現職：Columbia University

PART I: INTRODUCTION TO FOREIGN EXCHANGE MARKETS AND RISKS
Ch 1 Globalization and the Multinational Corporation
Ch 2 The Foreign Exchange Market
Ch 3 Forward Markets and Transaction Exchange Risk
Ch 4 The Balance of Payments
Ch 5 Exchange Rate Systems

PART II: INTERNATIONAL PARITY CONDITIONS AND EXCHANGE RATE DETERMINATION
Ch 6 Interest Rate Parity
Ch 7 Speculation and Risk in the Foreign Exchange Market
Ch 8 Purchasing Power Parity and Real Exchange Rates
Ch 9 Measuring and Managing Real Exchange Risk
Ch10 Exchange Rate Determination and Forecasting

PART III: INTERNATIONAL CAPITAL MARKETS
Ch11 International Debt Financing
Ch12 International Equity Financing
Ch13 International Capital Market Equilibrium
Ch14 Political and Country Risk

PART IV: INTERNATIONAL CORPORATE FINANCE
Ch15 International Capital Budgeting
Ch16 Additional Topics in International Capital Budgeting
Ch17 Risk Management and the Foreign Currency Hedging Decision
Ch18 Financing International Trade
Ch19 Managing Net Working Capital

PART V: FOREIGN CURRENCY DERIVATIVES
Ch20 Foreign Currency Futures and Options
Ch21 Interest Rate and Foreign Currency Swaps