Chapter 1 Multinational financial management: An overview Lecture outline Managing the MNC How business disciplines are used to manage the MNC Agency problems Management structure of an MNC
Why companies pursue international business Theory of comparative advantage Imperfect markets theory Product cycle theory
How companies engage in international business International trade Licensing Franchising Joint ventures Acquisitions of existing operations Establishment of new foreign subsidiaries Summary of methods
Valuation model for an MNC Domestic model Multinational model Uncertainty surrounding an MNC’s cash flows Summary of international effects How uncertainty affects the MNC’s cost of capital
The global financial crisis Fundamental cause of the GFC Foreign exchange markets MNC currency risk management
The impact of COVID-19 on multinational companies Organisation of the text
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