Multinational Business Finance trains the leaders of tomorrow's multinational enterprises to recognize and capitalize on the unique characteristics of global markets. Because the job of a manager is to make financial decisions that increase a firm's value, the authors have embedded real-world mini-cases throughout, applying chapter concepts to the types of situations managers of real multinational firms encounter.
The 16th Edition attempts to capture the rapid evolution of our global marketplace. It takes a closer look at the types of organizations that permeate the widespread arena, competition and opportunities in emerging markets. It also examines how financial leadership can integrate the strategic and financial challenges that global businesses face today.
Hallmark features of this title
Boost critical-thinking skills
- Global Finance in Practice boxes highlight how real firms and managers deal with the complexity of executing global business deals in a changing marketplace.
- Mini-Cases explore many of the edgier debates rising between global business, social policy and corporate social responsibility.
- 250 End-of-Chapter Problems assess students' understanding.
Proven pedagogical tools
- The authors use the Impossible Trinity as a unifying theoretical link across multiple subjects and chapters.
- A student-friendly writing style, structured presentation of material, and delivery of critical elements in a shorter framework aid student learning.
- A running case on a hypothetical Ireland-based firm provides a cohesive framework for the multifaceted globalization process.
New and updated features of this title
An introduction of new concepts and components in global business today
- Material examines how the changing structure of the global foreign exchange market is posing challenges for private players and public regulators and overseers.
- Chapter 4 on corporate governance, including elements of ownership, financial objectives, and the growing role of activist investors, has been revised. Of special note is the growth of stakeholder capitalism and its multiple objective framework as compared to stockholder wealth maximization.
- In-depth examination of the motivations, methods and metrics associated with currency manipulation is included. A new mini-case looks at whether China is or isn't a currency manipulator.
- Discussions of emerging market regimes, many recognizing they are trade-dependent economies in search of currency stability in lieu of attracting other capital account elements such as foreign direct investment, is included.
- Coverage of international taxation places emphasis on the constantly changing US tax rates and rules.
- The chapter on foreign direct investment and political risk has been revised to reflect the growing use of restrictions on convertibility, transferability, and the possibility of repudiation or expropriation.
About the Authors
David K. Eiteman is Professor Emeritus of Finance at the John E. Anderson Graduate School of Management at UCLA. He has also held teaching or research appointments at the Hong Kong University of Science & Technology, Showa Academy of Music (Japan), the National University of Singapore, Dalian University (China), the Helsinki School of Economics and Business Administration (Finland), University of Hawaii at Manoa, University of Bradford (UK), Cranfield School of Management (UK), and IDEA (Argentina). He is a former president of the International Trade and Finance Association, Society for Economics and Management in China, and Western Finance Association.
Arthur I. Stonehill was a Professor of Finance and International Business, Emeritus, at Oregon State University, where he taught for 24 years (1966 to 1990). During 1991 to 1997 he held a split appointment at the University of Hawaii at Manoa and Copenhagen Business School.
Michael H. Moffett is Continental Grain Professor in Finance at the Thunderbird School of Global Management at Arizona State University, where he has been since 1994. He also has held teaching or research appointments at Oregon State University (1985 to 1993); the University of Michigan, Ann Arbor (1991 to 1993); the Brookings Institution, Washington, DC; the University of Hawaii at Manoa; the Aarhus School of Business (Den-mark); the Helsinki School of Economics and Business Administration (Finland), the International Centre for Public Enterprises (Yugoslavia); and the University of Colorado, Boulder.
