International Financial Economics

International Financial Economics : Corporate Decisions in Global Markets

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Completely updated and revised, the second edition of International Financial Economics: Corporate Decisions in Global Markets applies the principles of financial economics to explain how international corporate finance decisions are made in the real world. Written from a practical, financial perspective versus one of pure economic theory, the text is divided into three sections. The first section provides a comprehensive discussion of exchange rates. The next section offers an in-depth look at a firm's foreign exchange exposure measurement and hedging. The material highlights the connection between foreign exchange exposure in profit and foreign exchange exposure in equity, as well as the impact of foreign currency debt and currency swaps. The third section examines overseas investment decisions in both countries integrated with the global financial market and those still segmented from it. Coverage emphasizes the cost of capital and accounting for overseas investments and hedging of foreign exchange risk. International Financial Economics: Corporate Decisions in Global Markets is ideal for advanced undergraduate and graduate courses in global financial management.
Features BLEmploys a practical, financial perspective with real-world applications BLIncludes expanded material on currency swaps to show their role in foreign exchange exposure management BLOffers a detailed description of economic foreign exchange exposure BLProvides additional material on overseas investment decisions when exchange rates are not correctly valued
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Product details

  • Hardback | 320 pages
  • 195.6 x 236.2 x 20.3mm | 725.76g
  • New York, United States
  • English
  • Revised
  • 2nd Revised edition
  • Numerous tables and line drawings
  • 0195175042
  • 9780195175042

Review quote

"This text provides an exciting, fresh approach to international financial management. Masterfully written by a recognized leader in the field, International Financial Economics is unique for its clarity, creativity, and coverage. O'Brien explains the material thoroughly, yet concisely, by relying on economic intuition and artfully weaving together theoretical concepts and fascinating examples. The book will be appealing to a variety of audiences. It is appropriately sophisticated for MBA students, but accessible to undergraduates, and up-to-date for practitioners in finance. I highly recommend this text for anyone seeking answers to the complex problems in international finance."-Reid W. Click, George Washington University
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About Thomas J. O'Brien

Thomas J. O'Brien is Professor and Head of the Finance Department at the University of Connecticut. He is the author and coauthor of several books on financial management and has published numerous articles in professional journals including the Journal of Finance, Financial Management, European Financial Management, and the Financial Analyst's Journal.
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Table of contents

I. FOREIGN EXCHANGE RATES ; 1. Introduction to Foreign Exchange ; 2. Foreign Exchange and Purchasing Power ; 3. Forward Foreign Exchange ; 4. Interest Rates and Foreign Exchange ; II. LONG-TERM FOREIGN EXCHANGE EXPOSURE ; 5. Foreign Exchange Operating Exposure ; 6. Debt and Foreign Exchange Exposure ; 7. Currency Swaps ; 8. Economic Foreign Exchange Exposure ; III. COST OF CAPITAL AND CROSS-BORDER INVESTMENTS ; 9. Global Finance and the Cost of Capital ; 10. Cost of Capital for Overseas Investments ; 11. Accounting for Foreign Investments and Hedging ; 12. Cross-Border Investment Decisions
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