With tariff disputes, ethical concerns and digital currencies dominating the news, international finance continues to engage national debate. As globalization expands, organizations must not only manage the advantages that ensue but also their exposure to risk. Now in its sixth edition, International Financial Management offers students a comprehensive introduction to this fast-moving field. Up-to-date real-world examples, critical debate questions and project workshop activities equip students with the essential knowledge they need to succeed in international finance. This textbook is suitable for final-year undergraduate as well as masters level courses in international financial management. This title is available with MindTap, a flexible online learning solution that provides your students with all the tools they need to succeed, including an interactive eReader, engaging multimedia, practice questions, assessment materials, revision aids and analytics to help you track their progress.
Part I. The international financial environment
1. Multinational financial management: an overview
2. International trade, measurement and theories
3. International financial markets and portfolio investment
4. Ethics
Part II. Exchange rate behaviour
5. Exchange rate changes
6. Exchange rate history and the role of governments
7. Forecasting exchange rates
8. International arbitrage and covered interest rate parity
9. Relationships between inflation, interest rates and exchange rates
Part III. Exchange rate risk management
10. Measuring exposure to exchange rate fluctuations
11. Market insurance: currency derivatives
12. Non-market methods of transaction management
13. Economic and translation exposure management
Part IV. Long-term asset and liability management
14. Foreign direct investment
15. Country risk analysis
16. Long-term financing
Part V. Short-term asset and liability management
17. Financing international trade
18. Short-term financing
19. International cash management
20. Concluding comments
Appendix A: Answers to self-test questions
Appendix B: Maths and statistics support
Online additional reading
1. Multinational restructuring
2. Multinational cost of capital and capital structure
3. Multinational capital budgeting
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.
