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As more businesses in today’s economy are moving towards a international reach, it is necessary for finance students to grasp how the fundamentals of corporate finance relate to multinational firms.  Shapiro’s Multinational Financial Management 9^th Edition provides that conceptual framework within which key financial conclusions of a multinational firm may be analyzed. The author’s comprehensive approach is to treat international financial management as a natural extension of the principles learned in the basi course in financial management. The book builds it is coverage of international finance on the framework of valuation traditionalisti by domestic corporate finance. It may be employed in courses in International Financial Management and International Finance at the upper-level undergrad or MBA level.

From the PublisherGrounded in progressed financial theory, this highly acclaimed text provides a conceptual framework wherein the key financial conclusions of the multinational firm may be analyzed. As in former editions, the book's approach treats international financial management as a natural and logical extension of principles learned in the originations of financial management course. This Fifth Edition has been exhaustively altered and bettered to reflect the most recent developments in the field and heighten overall learning.

From the Back CoverSpecific guidelines for making financial conclusions in an global context
Learn how to make sound financial conclusions in the multinational firm with Alan Shapiro’s Eighth Edition of Multinational Financial Management. Shapiro provides a clear conceptual framework for analyzing key financial conclusions in multinational firms–a framework that you may rely on allround your career.

Keep up with current financial events around the globe.
The new Eighth Edition is exhaustively altered with heightened discussions of the affect of China on the international financial system, current issues facing the euro, the debate over outsourcing, the political considerations underlying the debate over protectionism, the competitory devaluations for the duration of 2003, and more.

 Make smart decisions.
Multinational Financial Management focuses on decision making in an global context. The text presents analytical proficiencies that translate the often vague rules of thumb employed by international financial executives into specific decision criteria.

Learn how to take vantage of being multinational.
Too often companies focus on the threats and risks inherent in venturing abroad. In contrast, Alan Shapiro emphasizes the chances that are available to multinational firms, such as the capacity to obtain a dandier degree of international diversification and the capacity to arbitrage among imperfect capital markets.

Examine real global financial problems.
Throughout the text, a potpourri of real-life cases and examples, including new mini-cases in most chapters, demonstrate how to use financial analysis and reasoning to solve real international financial problems.

About the AuthorDr. Alan C. Shapiro is the Ivadelle and Theodore Johnson Professor of Banking and Finance. Prior to joining USC in 1978, he was an Assistant Professor at the Wharton School of the University of Pennsylvania (1971-1978). He has likewise been a Visiting Professor at Yale University, UCLA, the Stockholm School of Economics, University of British Columbia, and the U.S. Naval Academy. His specialisms are corporate and global financial management.

Most helpful client reviews

7 of 7 people found the following review helpful.
Good Introduction to the Subject, in Some Parts too Brief
By Eric Dubuis
The book "Multinational Financial Management" is a good introduction to this rather complex subject. It is written well and holds a lot of examples and historical references. Some of the chapters in the second part are held a tad too short though.

The book covers the main topics of international financial management, the environs of global financial management, alien interchange and derivatives market and peril management, financing of multinational corporations, alien investment analysis and multinational working capital management in 5 main sections.

I found most elements of the text to be very well readable and easy to understand. All conceptions are backed up by examples and discerned illustrations talking about a real event in more or less detail. This works specially well in the primary chapters of the text covering the more elementary concepts. Subjects like international monetary systems or country peril analysis (to just mention a few) are covered in outstanding detail, and the required math, e.g. the formulas used for the parity conditions and the Fisher Effect, are illustrated with sufficient examples even for someone with little or no mathematical background.

The parts of the book covering derivatives is too short and the theory provided does not go deep sufficient in order to comprehend the more complex examples easily. Trying to figure out the mechanics of Kodak's Zero Coupon Australian Dollar Interest Rate/Currency Swap involving 11 parties, multiple swaps and currencies was no easy task after a mere 2 1/2 page theoretical introduction to currency swaps. There are better books for understanding currency swaps.

Other elements not covered deep sufficient were the chapters on global project and firm evaluation (covering subject like WACC and CAPM). With just this book, it is totally unlikely to get an idea of the real meaning of these models and techniques. Too galore details are omitted that will have to have been covered. Granted, these are more complex subjects, but perchance the author must have either keep the book focalized on the main topics or split the content over two books.

Overall, the original portion of the book is very useful, but the more complex subjects are not covered with the depth they require.

7 of 8 people found the following review helpful.
Sometimes Wordy
By C. Ang
This is one of the better books for a course in international finance. It has cases in the text, which allows the student to get the real world intuition of the topics that are being covered. This is not a text that only extends capital budgeting to an global setting, it likewise includes numerous conceptions borrowed from global economics (e.g. purchasing power parity, interest rate parity, covered interest arbitrage, etc.). It also looks into a good deal of danger management exercises that are applicable for multinational corporations. However, I feel that a lot of topics could have been cut short and the author just wanted to add a few (hundred) more pages to the text.

5 of 6 humans found the following review helpful.
Verbose and Obtuse
By Connolly Joseph
I employed this book for the original and last time in Autumn term 2006 with 28 alien students in my Global Finance MBA course. When one wishes to make cash by systematically reissuing new editions he has an obligation to update it at least minimally, (The Paul Samuelson Rule). In this case Greed is not good.

Hence, my exasperation when I open the 2006 edition of the book and on the basi page learn that the currency of Belgium is the Belgian franc, the currency of Ireland is the pound,(Ireland's curency was never the pound; it was the punt) or that Germany still has the DM. Many of students lost points on a midterm because they thought the currency of Finland is is the markka. Shapiro in 2006 says so. On the next page he fails to mention Monaco; there are a lot of capital flows internationally through Monoco. And on that page Spain still has a peseta.Portugal has escudos.

The book likewise suffers from wordiness. I did like the key phrases section in each chapter; I thought at least that all key phrases would be included in the glossary but I could find all there. There is a sure obtuseness which I did find perplexed my students sometimes, who did not rather receive pleasure from this book as I had hoped. We would not use it again.

I tried to contact the author by email with assorted queries but did not experience the courtesy of a reply.

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