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International Finance: Theory into Practice [Kindle Edition]

Piet Sercu
2.9 out of 5 stars  See all reviews (7 customer reviews)

Digital List Price: $110.00 What's this?
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  • Print ISBN-10: 069113667X
  • Print ISBN-13: 978-0691136677
  • Length: 832 pages
  • Due to its large file size, this book may take longer to download
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Book Description

International Finance presents the corporate uses of international financial markets to upper undergraduate and graduate students of business finance and financial economics. Combining practical knowledge, up-to-date theories, and real-world applications, this textbook explores issues of valuation, funding, and risk management. International Finance shows how theoretical applications can be brought into managerial practice.

The text includes an extensive introduction followed by three main sections: currency markets; exchange risk, exposure, and risk management; and long-term international funding and direct investment. Each section begins with a short case study, and each of the sections' chapters concludes with a CFO summary, examining how a hypothetical chief financial officer might apply topics to a managerial setting. The book also contains end-of-chapter questions to help students grasp the material presented.

Focusing on international markets and multinational corporate finance, International Finance is the go-to resource for students seeking a complete understanding of the field.

  • Rigorous focus on international financial markets and corporate finance concepts

  • An up-to-date and practice-oriented approach

  • Strong real-world examples and applications

  • Comprehensive look at valuation, funding, and risk management

  • Introductory case studies and "CFO summaries," and end-of-chapter quiz questions

  • Solutions to the quiz questions are available online

Editorial Reviews


"[This] is the most comprehensive textbook on the financing, transactional, and risk management side of international trade and investment currently available. . . . Compared to many other textbooks, this one excels at focusing on the topic at hand and not merely providing a corporate or derivative textbook with some international flavor added. The book provides more than ample material for courses on financial markets and business finance."--Evert Wipplinger, Financial Markets and Portfolio Management

From the Back Cover

"This will become a classic of international finance."--Philippe Jorion, University of California, Irvine

"This book combines a rigor and practicality that few leading finance textbooks achieve. Once you have read it you will understand what matters in international finance, what does not, and how to deal with both."--Ian Cooper, London Business School

"I cannot think of a more comprehensive and more operationally relevant textbook than this one. Having read it, a student or practitioner is ready for operational work and duly prepared to avoid all the conceptual pitfalls commonly encountered on the international side of finance."--Bernard Dumas, University of Lausanne and Swiss Finance Institute

"This textbook employs modern finance in an international setting, all presented in the clearest, most stimulating way. In addition to each chapter being accompanied by a set of exercises, each part of the textbook is also nicely complemented by a case study. Comprehensive and up to date, the book covers everything from forward exchange rates, exchange risks, costs of international capital, and international taxation, to cross listings, swaps, and values at risk. There is no doubt this is the premier textbook for international finance."--Suleyman Basak, London Business School

"Piet Sercu's tour de force provides the most comprehensive treatment of major issues in international finance among all the books in the field. The author defines the key issues up front, tackles them in a coherent and focused manner, and strikes the right balance between basic concepts and practical applications. Readers can feel the pulse of world financial markets from the author's lively explanations of market mechanisms and conventions. Clear, entertaining, and up-to-date, this book sets a high standard for the study of international finance."--Cheol Eun, Georgia Institute of Technology

"Analytical and rigorous, International Finance presents fresh data, cohesively organized chapters, and timely issues."--G. Andrew Karolyi, Ohio State University

"This accessible and important book provides a big picture for corporate finance within the context of the international financial markets."--Karen K. Lewis, University of Pennsylvania

Product Details

  • File Size: 11878 KB
  • Print Length: 832 pages
  • Publisher: Princeton University Press (March 2, 2009)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B005Z67DFO
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Not Enabled
  • Lending: Not Enabled
  • Amazon Best Sellers Rank: #997,806 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

2.9 out of 5 stars
2.9 out of 5 stars
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Most Helpful Customer Reviews
7 of 9 people found the following review helpful
1.0 out of 5 stars Terrible book and full of typos July 13, 2010
By carsten
We used this book in my Masters-level international finance course. I highly recommend that anyone (profs, students, practitioners) thinking about adopting or reading an IF book to shy away from this one. It is too verbose; it lacks cohesion; it's unclear and full of small but critical mistakes. The solutions online are also full of errors. If you already know the material from another course, or are doing research in the area, then perhaps you might use this as a reference book. For the regular reader, stay away - you will find the text frustrating and confusing. You can get a nearly complete preprint copy free by searching online, so try it first before you buy it.
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2 of 2 people found the following review helpful
Format:Hardcover|Verified Purchase
I am taking a Master's Level International Finance course and this is the book for the class. The answer key is full of typos and the practice problems and quiz questions are not even close to what is talked about in the text. Some questions are repeated in multiple chapters. The author also tries to be funny, by mentioning martians or making fun of people that aren't smart by calling them "cerebrally underendowed". Definitely not what you would expect in a typical finance book. I would avoid this text. It was very unclear. There is not any structure to it. I spent most of the time on Investopedia, because the text did not make sense. I don't recommend this book for beginners, or even intermediate finance students. I am not new to finance and have worked in corporate finance and at a university, and found this book to be difficult to understand. I had to reread chapters 3 times to partially understand the math and concepts.
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1 of 1 people found the following review helpful
2.0 out of 5 stars Not very clear and full of errors February 6, 2013
I don't know which edition I got (I can't find it written on the book!), but it's amazing the amount of errors you find on this book. At a certain point there's a mathematical expression with its result at the right side, but if you solve it on your calculator the result is different. So I have to spend time trying to find if it's the result that is wrong or if there's an error in the mathematical expression. And this happened more than once! This, together with incoherent notations and some not very clear explanations, I wouldn't reccomend it. I don't know who is to blame, the author or the editor, but it made me waste time. The layout of the book is not appealing as well, the only thing good on this book is the subject, which is nonetheless interesting, even if very confusingly explained.
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4.0 out of 5 stars Good resource of international currency awareness December 16, 2014
By Drew
This is an amazing resource for anyone who deals with or is learning about the ramification of the fluctuating international currency market and the potential risks and advantages to businesses and investors with differing levels of exposure. An in-depth explanation is given from forwards to swaps, hedging and even international taxation. I found this very informative and helpful.
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