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The Global Marketplace is complex, interdependent, and dynamic Challenges include politics, culture, and technology Managers must find a balance between social responsibility, company image, and competitive strategies More focused on Global Management

Understanding of global trends How international banks are reacting to these challenges Implementation of a comprehensive risk management function Challenges in implementing these ideas in Asia

Chapter Objective: This chapter provides a brief introduction to the international tax environment.

Chapter Objective: This chapter discusses the microstructure of international trade.

Chapter Objective: This chapter discusses various issues associated with multinational cash management.

Chapter Objective: This chapter discusses the methodology that a multinational firm can use to analyze the investment of capital in a foreign country.

Chapter Objective: This chapter discusses the cost of capital for the multinational firm.

Chapter Objective: This chapter discusses various issues associated with foreign direct investments by MNCs, which play a key role in shaping the nature of the emerging global economy.

Chapter Objective: This chapter discusses various methods available for the management of transaction exposure facing multinational firms.

Chapter Objectives: This chapter provides a way to measure economic exposure, discusses its determinants, and presents methods for managing and hedging economic exposure.

Chapter Objectives: Why investors diversify their portfolios internationally. How much investors can gain from international diversification. The effects of fluctuating exchange rates on international portfolio investments. Whether and how much investors can benefit from investing in U.S. based...

This chapter discusses currency and interest rate swaps, which are relatively new instruments for hedging long-term interest rate risk and foreign exchange risk.

This chapter discusses exchange-traded currency futures contracts, options contracts, and options on currency futures.

This chapter continues discussion of international capital markets with a discussion of the structure of the international bond market.

Interest Rate Parity Purchasing Power Parity The Fisher Effects Forecasting Exchange Rates

This chapter serves to begin our discussion of world financial markets and institutions.

Function and Structure of the FOREX Market The Spot Market Spot Rate Quotations The Bid-Ask Spread Spot FX Trading Cross Exchange Rate Quotations Triangular Arbitrage Spot Foreign Exchange Market Microstructure The Forward Market

Balance of Payments Accounting Balance of Payments Accounts The Current Account The Capital Account Statistical Discrepancy Official Reserves Account The Balance of Payments Identity Balance of Payments Trends in Major Countries

The International Monetary System Evolution of the International Monetary System Current Exchange Rate Arrangements European Monetary System Euro and the European Monetary Union The Mexican Peso Crisis The Asian Currency Crisis Fixed versus Flexible Exchange Rate Regimes

Foreign Exchange Risk Political Risk Market Imperfections Expanded Opportunity Set