International Finance - Desai, Mihir A.
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Now, Mihir Desai's International Finance: A Casebook takes international finance from the world of theory and abstraction to the real-world questions that financial decision-makers face in today's increasingly global environment. Desai takes a firm-centric approach that focuses on the realities of cross-border transactions and how they are influenced by exchange rates, country risk factors, legal regimes, and tax rules. With this casebook, you'll develop the skills and insights you need to make key financial decisions in a rapidly globalizing world.
These cases include:
* Globalizing the…mehr

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Produktbeschreibung
Now, Mihir Desai's International Finance: A Casebook takes international finance from the world of theory and abstraction to the real-world questions that financial decision-makers face in today's increasingly global environment. Desai takes a firm-centric approach that focuses on the realities of cross-border transactions and how they are influenced by exchange rates, country risk factors, legal regimes, and tax rules. With this casebook, you'll develop the skills and insights you need to make key financial decisions in a rapidly globalizing world.

These cases include:

* Globalizing the Cost of Capital and Capital Budgeting at AES

* Foreign Exchange Hedging Strategies at General Motors

* Valuing a Cross-Border LBO: Bidding on the Yell Group

* Dow Chemical's Bid for the Privatization of PBB in Argentina

* Drilling South: Petrobras Evaluates Pecom

* The Refinancing of Shanghai General Motors

* The Continuing Transformation of Asahi Glass: Implementing EVA

* Nestlé and Alcon--the Value of a Listing

* Growing Up in China: The Financing of BabyCare Ltd.

* Czech Mate: CME and Vladimir Zelezny

* The Corporate Inversion of Stanley Works

* Antitrust Regulations in a Global Setting: The EU Investigation of the GE/Honeywell Merger
In today's global marketplace, being able to work seamlessly across borders is vital to a company's success. Unfortunately, many multinational companies lack a clear understanding of the finance issues they face, nor do they have the analytical capabilities to effectively manage these challenges. The case studies presented by Professor Desai in this text offer real-world insight into the complex world of multinational finance and provide an invaluable foundation for those charged with building a finance operation without borders.
--Jean Blackwell, CFO, Cummins Inc.

Professor Desai discusses a plethora of real-world issues facing finance heads of global corporations. His approach and the firm-centric emphasis move beyond the conventional theoretical discourse and facilitate imparting of pragmatic skills and insights to aid the modern day practitioner of international finance.
--Mohan Pai, CFO, Infosys Inc.

Financing, investing and risk management decisions for global corporations can't be made responsibly today without an in-depth understanding of global capital markets and the opportunities and pitfalls that they present. With responsibility for General Mills international businesses and as CFO, I found this casebook to provide a wonderful one-stop shop for understanding finance as it should be practiced at a world-class multinational.
--Jim Lawrence, Executive Vice President, Chief Financial Officer and International, General Mills, Inc.

Multinational firms are central today to understanding the determinants and consequences of cross-border capital and product flows. Mihir Desai, an important scholar of these firms and flows, provides us with this casebook where he goes inside these firms to see how they make critical investment and financial decisions. Practitioners and scholars alike can benefit greatly from his invaluable insights.
--Jagdish Bhagwati, University Professor, Economics and Law, at Columbia University, and author of In Defense of Globalization

Mihir has hit it on the nose - These days, cross-border transactions or dealing with foreign operations is part of the ordinary course of business. Yet, most textbooks provide little help with these circumstances. In today's environment, this book must be part of any financial manager's toolbox!
--Alvaro Rodriguez Arregui, CFO, Vitro S.A.

Part I: Exchange Rates, Markets and Firms.

Exchange Rates and Global Markets.

1. Foreign Exchange Markets and Transactions.

2. Exchange Rate Policy at the Monetary Authority of Singapore.

3. Innocents Abroad: Currencies and International Stock Returns.

Exchange Rates and Firms.

4. Hedging Currency Risks at AIFS.

5.Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures.

6.Foreign Exchange Hedging Strategies at General Motors: Competitive Exposures.

Part II: Multinational Finance.

Financing Decisions within the Firm.

7. The Refinancing of Shanghai General Motors.

8. Corporate Inversions: Stanley Works and the Lure of Tax Havens.

9. The Continuing Transformation of Asahi Glass: Implementing EVA.

Valuing Cross-Border Investments.

10. Valuing a Cross-Border LBO: Bidding on the Yell Group.

11. Globalizing the Cost of Capital and Capital Budgeting at AES.

12. Dow Chemical's Bid for the Privatization of PBB in Argentina.

Part III: Cross-Border Financing.

Cross-Border Financial Decisions.

13. Drilling South: Petrobras Evaluates Pecom.

14. Nestlé and Alcon--The Value of a Listing.

15. Cross-Border Listings and Depositary Receipts.

16. Tax-Motivated Film Financing at Rexford Studios.

17. The Strategy and Sources of Motion Picture Finance.

Part IV: Institutions and Finance.

Finance in Weak Institutional Environments.

18. Growing Up in China: The Financing of BabyCare Ltd.

19. Czech Mate: CME and Vladimir Zelezny (A).

20. Czech Mate: CME and Vladimir Zelezny (B1) - CME Negotiates.

21. Czech Mate: CME and Vladimir Zelezny (B2) - SBS Negotiates.

22. Czech Mate: CME and Vladimir Zelezny (B3) - Zelezny Negotiates.

23. Czech Mate: CME and Vladimir Zelezny (C) - The Struggle for Control.

24. Czech Mate: CME and Vladimir Zelezny (D) - Resolution.

25. Czech Mate: CME and Vladimir Zelezny (E) - CME Returns.

Regulatory Regimes.

26. Antitrust Regulations in a Global Setting: The EU Investigation of the GE/Honeywell Merger.

27. Redesigning Sovereign Debt Restructuring Mechanisms.
Autorenporträt
Mihir A. Desai is the Rock Center Associate Professor of Finance and Entrepreneurial Management and the MBA Class of 1961 Fellow at Harvard Business School (HBS) where he has taught since 1998. He is also a Faculty Research Fellow in the National Bureau of Economic Research's Public Economics and Corporate Finance Programs. His research on international finance and public economics has been published in leading academic journals such as the Quarterly Journal of Economics, the Journal of Finance, the Journal of Financial Economics and the Journal of Public Economics and has been cited widely in the business press. A fuller discussion of his research and publications can be found at www. people.hbs.edu/mdesai.

The cases in this book were developed for Professor Desai's second-year elective, entitled "International Financial Management," that he has taught at HBS since 2004. In addition, Professor Desai co-teaches Public Economics at Harvard College, is the Faculty Chair of the executive program on Cross-Border Financial Decision Making and has participated in numerous executive education programs at HBS. He received the Student Association Award for teaching excellence from the HBS Class of 2001. Professor Desai received h is Ph.D. in political economy from Harvard University; his MBA as a Baker Scholar from HBS; and a bachelors degree in history and economics from Brown University. in 1994, he was Fulbright Scholar to India. His Professional experiences include working at CS First Boston and advising a number of firms and governmental organizations.