国际财务管理课程大纲

1、国际财务管理 教学大纲syllabus of international financial management undergraduate class，fall semesterpu jun, assistant professor of finance, school of businessuniversity of international business & economics (uibe)e-mail address: mikepuoffice hour: 15:00-17:00 thursdayoffice: n533（宁远楼）code: acc412name：int

2、ernational financial management prerequisite：acc314“corporate finance” credit: 2, 36 hours textbook: cheol s. eun, bruce g. resnick, international financial management, 机械工业出版社2007年1月第一版references:1. 蒋屏，国际财务管理，对外经济贸易大学出版社2004年2. eiteman, stonshill and moffett, multinational business finance, sixth e

3、dition.，2004 by pearson education, inc. publishing as pearson addison wesley3. alan c. shapiro, foundations of multinational financial management, third edition 2005 by prentice-hall, inc.4. butler, kirt c. multinational finance (3rd edition). 2004 by thomson.5. the economist, the financial times(lo

4、ndon), business week and far eastern economic review，journal of bank research, journal of banking and finance, journal of finance6. http//dept/fin/journal/afaabout.html, http//fin/journal/jofsites.htmlteaching methods: lecture 60+discussion 40 course descr

5、iption（课程简介） this course provides an understanding of international financial environment within multinational companies, banks and other financial institutions that operate and deal with the theories and practices of multinational financial management. the course covers four main topics: internatio

6、nal financial environment and balance of payments, foreign exchange market, foreign exchange determination and fundamental analysis and, foreign exchange exposure and risk management, international investment, international financing and mnc cash management. attention is not only devoted to the rela

7、tionship between exchange rates and different hedging strategies that companies can use to cover their foreign exchange risk, but also to the decisions in investment, financing and operation management for mnc. more over the course covers some specific transitive economies topics, implementation of

8、euro, etc. course objectives (课程目标)this course aims at giving a broad understanding of what international finance is, what are the factors that can affect the financial results of a firm doing business internationally and what can the firm do to diminish its exposure to these factors. it is expected

9、 that at the end of the class you will be able to do the following:ü understand the effect that exchange rates have on the profitability of a firm that does business internationally.ü compare different methods to shield exchange rate exposure and choose the best suited for specific situati

10、ons.ü understand the main determinants of exchange rates.ü describe international financial markets.ü evaluate cash flows under different exchange rates and cost of capital for various investment alternatives. choose the best investment alternative based in your analysis.course gradin

11、g （评分标准）in-class quizzes and home assignment 10%case analysis (groups)15%group projects15%term examination 60% total 100%detailed course plan (outline of units) 1. environment for international financial management: an overview (chapter 1)case: corporate dilemma： monitoring the pesos value2. interna

12、tional financial environment (chapter 2 &3)a) international monetary systemb) balance of paymenti. accounts of balance of paymentii. balance of payment and the foreign exchangecase: (1)wal-marts use of international financial markets(2)arbitrage within europes exchange rate mechanism (erm)(3) us

13、e of currency futures and options by the sports exports company3. foreign exchange markets and foreign exchange forecastsa) foreign exchange markets: spot market and forward marketb) foreign exchange forecastsi. influence of foreign exchange rateii. international parities:irp, ppp, ife and fpiii. fo

14、recasts skillscase: (1）impact of russian inflation on exchange rates4. financial derivativesa) foreign exchange future b) foreign exchange optionsc) swaps: interest rate swaps vs. currency swapscase: (1)wal-marts use of international financial markets(2)arbitrage within europes exchange rate mechani

15、sm (erm)(3) use of currency futures and options by the sports exports company5. managing forex exposures:a) transaction exposure and managementb) economics exposure and managementc) translation exposure and managementcase: (1)dow chemicals exchange rate exposure(2)how u.s. firms are reducing their e

16、conomic exposure to exchange rate risk(3)how u.s. firms are reducing their transaction exposure to exchange rate risk6. fdi and international capital budgetinga) fdi and multinational restructuringb) country risk analysis and long termc) international capital budgeting and apv modelcase: (1) assessi

17、ng pepsicos foreign projects7. international financing managementa) international financing instrumentsb) international capital costs and capital structurecase: (1) cost of capital for subsidiaries in mexico8. international working capital managementa) international working capital managementb) international cash managementc) transferring price an