MultinationalFinance-InternationalBusinessCenter(CIBER).ppt

MSU/CIBER Institute for Community College FacultyInternational FinancebyKirt C. Butler(MSU’s Department of Finance) Multinational financial management Multinational financial management is financial management conducted in more than one cultural, social, economic, or political environment Topics of multinational finance Multinational investment policy Higher returns from existing investments New investment opportunities in international markets Multinational financial policy Reduced capital costs through access to international capital markets Vivé la difference International business is necessarily interdisciplinary because business is affected by cross-border differences in: - Language culture - Human resource mgmt - Accounting - Marketing - Distribution - Logistics - Financial markets - Corporate governance - Other business conventions (legal, accounting, taxation, regulation, etc.) Multinational financial management Multinational finance is interdisciplinary within the field of finance Multinational financial managers must be familiar with Foreign exchange and Eurocurrency markets International capital (debt equity) markets International markets for real assets International portfolio investment Derivatives securities …where the art resides The notes I handle no better than many pianists, but the pauses between the notes – ah, that is where the art resides.  Arthur Schnabel Topics in Finance for beginners International markets International markets in goods services International financial markets The FX game /~butler/ Foreign market entry Exporting, contracting, investing Corporate governance Mergers and acquisitions (MA) Corporate control Publicly traded debt equity (December 2001) Major domestic debt markets(billions) Bank for International Settlements Click on: - Publications and statistics - International financial statistics Major stock markets(billions) Web resourceMorgan Stanley Capital Inter