International Financial Management

Jeff Madura is presently Emeritus Professor of Finance at Florida Atlantic University. He has written several successful finance texts, including FINANCIAL MARKETS & INSTITUTIONS (now in its 14th edition). His research on international finance has been published in numerous journals, including Journal of Financial and Quantitative Analysis; Journal of Banking and Finance; Journal of Money, Credit and Banking; Journal of International Money and Finance; Financial Management; Journal of Financial Research; Financial Review; Journal of International Financial Markets, Institutions, and Money; Global Finance Journal; International Review of Financial Analysis and Journal of Multinational Financial Management. Dr. Madura has received multiple awards for excellence in teaching and research and he has served as a consultant for international banks, securities firms and other multinational corporations. He served as a director for the Southern Finance Association and the Eastern Finance Association, and he is also former president of the Southern Finance Association. Roland Fox graduated from Manchester University in Accounting and Finance and joined PricewaterhouseCoopers. He subsequently worked in the actuarial department of a multinational company and as a management accountant for Invensys Ltd (prior to it becoming Schneider Electric), before taking up a lecturing post. Until 2022, he was a Senior Lecturer in Finance at Salford University. He has published a number of papers on management accounting, finance and education.

• Part I. The international financial environment1. Multinational financial management: an overview2. International trade, measurement and theories3. International financial markets and portfolio investment4. EthicsPart II. Exchange rate behaviour5. Exchange rate changes 6. Exchange rate history and the role of governments7. Forecasting exchange rates8. International arbitrage and covered interest rate parity9. Relationships between inflation, interest rates and exchange ratesPart III. Exchange rate risk management10. Measuring exposure to exchange rate fluctuations11. Market insurance: currency derivatives12. Non-market methods of transaction management13. Economic and translation exposure managementPart IV. Long-term asset and liability management14. Foreign direct investment15. Country risk analysis16. Long-term financingPart V. Short-term asset and liability management17. Financing international trade18. Short-term financing19. International cash management20. Concluding commentsAppendix A: Answers to self-test questionsAppendix B: Maths and statistics supportOnline additional reading1. Multinational restructuring2. Multinational cost of capital and capital structure3. Multinational capital budgeting