An in-depth treatment of the international financial arena Multinational Finance, Fifth Edition assumes the viewpoint of the financial manager of a multinational corporation with investment or financial operations in more than one country. This book provides a framework for evaluating the many opportunities, costs, and risks of multinational operations in a manner that allows readers to see beyond the math and terminology surrounding this field to realize the general principles of multinational financial management. Logically organized and written in a clear, non-technical style, this book includes information on international finance topics such as foreign exchange, currency and derivatives markets, currency risk (transaction, operating, and translation) management, country risk, international taxation, capital structure, cost of capital, and international portfolio diversification. It also offers unique chapters on multinational treasury management, the rationale for hedging currency risks, options on real assets, international corporate governance, asset pricing, and portfolio management.* Emphasizes the managerial aspects of multinational finance with graphs, figures, and the use of numerous real-world examples* Expands on the treatment of parity disequilibria to include exchange rate expectations that differ from parity and a project's operating exposure to currency risk* Provides an overview and comparison of the various derivative instruments and their use in risk hedging* Contains valuable insights on valuation and management of a multinational corporation's investments If you're looking for the best way to gain a firm understanding of multinational finance, look no further than the fifth edition of this classic text.