Multinational Finance [Hardcover]

Kirt C. Butler (Author)

Book Description

Publication Date: June 30, 2003 | ISBN-10: 0324177453 | ISBN-13: 978-0324177459 | Edition: 3rd

MULTINATIONAL FINANCE provides a concise treatment of the investment and financial decisions facing the multinational corporation. The text provides a framework for evaluating the opportunities, costs and risks of multinational operations so readers can see beyond the algebra and terminology to general principles. It is distinguished by its logical organization, superior pedagogy, and clear, non-technical writing style. It includes the traditional international finance topics of foreign exchange, currency and derivatives markets, currency risk (transaction, operating and translation) management, country risk, taxation, capital structure, cost of capital, and international portfolio diversification. It also has unique chapters on multinational treasury management, options on real assets, corporate governance, asset pricing, and international portfolio management.

Editorial Reviews

Review

Butler is certainly a strong candidate for future adoption. On the whole it's easy to read and follow and covers most of the important topics in an integrated fashion.

Teaching international parity conditions (IPCs) is tricky. The average textbook presents them in a drab, unconnected manner, leaving the student confused and unaware of their importance in explaining realized currency returns and forming foreign exchange forecasts. Butler does an excellent job in covering this topic and avoids these pitfalls

Chapters 1-17 of the Butler text make it very straight-forward to extend the concepts/results from principles to the multinational setting.

From the Back Cover

Multinational Finance assumes the viewpoint of the financial manager of a multinational corporation with investment or financial operations in more than one country. The text provides a framework for evaluating the many opportunities, costs, and risks of multinational operations in a manner that allows readers to see beyond the algebra and terminology to the general principles of multinational financial management.

Multinational Finance includes coverage of traditional topics such as foreign exchange and Eurocurrency markets, multinational treasury management, management of currency risk exposures (transaction, operating, and translation), country risk, multinational capital structure and cost of capital, taxation of foreign source income, and international portfolio diversification. Also included are distinctive chapters on the economic rationale for hedging currency risks, derivatives markets (with separate chapters on currency futures, options, and swaps), real options in international markets, international corporate governance, and international asset pricing.

Intended for MBA and advanced undergraduate classes, the text requires only a single preparatory course in finance. Chapters that extend material from the first course begin with a brief review of the fundamentals. Numerous graphs and figures assist the reader in understanding key financial concepts and techniques are used in practice. Advanced material is placed in chapter appendices, so that study can be tailored to each individual's objectives. --This text refers to the Paperback edition.

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Product Details

• Hardcover: 660 pages
• Publisher: South-Western College Pub; 3rd edition (June 30, 2003)
• Language: English
• ISBN-10: 0324177453
• ISBN-13: 978-0324177459
• Product Dimensions: 10 x 8 x 1.2 inches
• Shipping Weight: 3 pounds (View shipping rates and policies)
• Average Customer Review: 4.0 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #1,049,879 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

5 of 5 people found the following review helpful:

4.0 out of 5 stars A Handy Reference Book for MBA Level, June 24, 2004

By 

Simon Tang (Sydney, Australia) - See all my reviews

This review is from: Multinational Finance (Hardcover)

This textbook is used in our MBA International Finance course (1 semester) and we basically covered about 80% of the materials in the class. The book is well organised and, most importantly, the notations are very clear which helps understanding the materials. Each chapter include a list of references so that students who need to do further research (e.g. for their projects) can start from there. There are also extensive references to the current developments in international finance arena including internet links. We used the Conceptual Questions and Problems at the end of each chapter for revision purpose as well. I do not find much numerical errors as other reviewers mentioned in 2nd edition. Overall I find it very well-written and was useful for my learning experience.

5.0 out of 5 stars Great book, October 17, 2009

By 

Huyan Yang - See all my reviews
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Amazon Verified Purchase

This review is from: Multinational Finance (Paperback)

This is a finance book with high value to price ratio. And in addition, what makes the book unique is that key point is summarized beside corresponding paragraph, making it easier for readers to understand.

2 of 4 people found the following review helpful:

1.0 out of 5 stars If you don't have to - don't buy it!, June 14, 2003

By 

Daniel Hüske (Niederau Germany) - See all my reviews

This review is from: Multinational Finance (Hardcover)

Unfortunately I had to buy the book and read all 600 pages of it. It was my textbook for one of my courses at uni. Generally, the content of the book is quite all right, but lots of mistakes (esp. of numerical nature) make the book nearly worthless. If your lecturer wants to use this book as a reference, tell her/him it is even not worth the way to the bookshop.