International Finance: A Survey

Author: H. Kent Baker; Leigh A. Riddick
Publisher: Oxford University Press USA
ISBN: 9780199754656
Published In: January 2013
Format: Hardback , 592 pages
Jurisdiction: International ? Disclaimer:
Countri(es) stated herein are used as reference only

Out of stock

Description
Contents
Author

Details

Provides a comprehensive discussion of financial theory, empirical work, and practice within the various topics covered. Thus, the book not only attempts to blend the conceptual world of scholars with the pragmatic view of practitioners, but also synthesizes important and relevant research studies in a straightforward manner and includes recent developments.
Provides relevant theoretical and mathematical derivations, when needed, to explain the topic at hand. When discussing the results of empirical studies that link theory and practice, the objective is to distill them to their essential content so that they are understandable to the reader.
Each chapter ends with a summary and conclusions that provide the key lessons of the chapter.
Each chapter has discussion questions that help to reinforce key concepts. Guideline answers are provided at the end of the book.

Understanding the current state of affairs and tools available in the study of international finance is increasingly important as few areas in finance can be divorced completely from international issues. International Financereflects the new diversity of interest in international finance by bringing together a set of chapters that summarizes and synthesizes developments to date in the many and varied areas that are now viewed as having international content. The book attempts to differentiate between what is known, what is believed, and what is still being debated about international finance. The survey nature of this book involves tradeoffs that inevitably had to be made in the process given the vast footprint that constitutes international finance. No single book can cover everything. This book, however, tries to maintain a balance between the micro and macro aspects of international finance.
Although each chapter is self-contained, the chapters form a logical whole that follows a logical sequence. The book is organized into five broad categories of interest: (1) exchange rates and risk management, (2) international financial markets and institutions, (3) international investing, (4) international financial management, and (5) special topics. The chapters cover market integration, financial crisis, and the links between financial markets and development in some detail as they relate to these areas. In each instance, the contributors to this book discuss developments in the field to date and explain the importance of each area to finance as a field of study. Consequently, the strategic focus of the book is both broad and narrow, depending on the reader's needs. The entire book provides a broad picture of the current state of international finance, but a reader with more focused interests will find individual chapters illuminating on specific topics.

Readership: Practitioners, academics, students, and others interested in international finance.

Chapter 1 International Finance: An Overview (H. Kent Baker and Leigh A. Riddick)
Section I. Exchange Rate Behavior and Risk Management
Chapter 2 A Primer on Exchange Rate Behavior (James R. Lothian and Mark P. Taylor)
Chapter 3 Markets and International Interest Rate Parity (Suk Hun Lee and A. G. Malliaris)
Chapter 4 Corporate Risk Management in the Multinational Firm (Ulrich Hommel and Tobias Prokesch)
Section II. International Financial Markets and Institutions
Chapter 5 Central Banks and Economic Policy after the Crisis: What Have We Learned? (Andew Hughes Hallett, Giovanni Di Bartolomeo, and Nicola Acocella)
Chapter 6 International Financial Integration: Benefits, Costs, and Policy Challenges (Pierre-Richard Agenor)
Chapter 7 Links between International Financial Markets and Volatility (Kirt C. Butler and William Gerken)
Chapter 8 Challenges in Financial Regulation (Stijn Claessens)
Chapter 9 International Equity Markets: Risk and Return (Yigit Atilgan, Taran G. Bali, and K. Ozgur Demirtas)
Chapter 10 International Corporate Debt Markets (Manuela Geranio and Issam Hallak)
Chapter 11 Financing International Trade (Marc Auboin)
Chapter 12 Cross-Listing Behavior (Thomas O'Connor and Kate Phylaktis)
Chapter 13 International Regulatory Regimes (Tony Porter)
Section III. International Investing
Chapter 14 Asset Pricing in International Setting (Leigh A. Riddick)
Chapter 15 The Home Bias Puzzle in Equity Portfolios (Piet Sercu and Rosanne Vanpee)
Chapter 16 Investing in Emerging and Developing Markets (Jenny Berrill and Colm Kearney)
Chapter 17 International Investment Patterns (Simon J. Broome and Thomas J. Flavin)
Chapter 18 Integrated Versus Segmented Capital Markets: Implications for Financial Decision Making (Robert Johnson and Luc Soenen)
Section IV. International Financial Management
Chapter 19 Multinational Capital Budgeting: Valuing Cross-Border Investments (Kirt C. Butler and Swinyai Utete)
Chapter 20 Multinational Restructuring (Pengcheng Zhu)
Chapter 21 Corporate Management of Foreign Currency Risk: Conceptual Framework, Policies, and Strategies (Raj Aggarwal)
Chapter 22 Multinational Cost of Capital and Capital Structure (Franck Bancel, Usha R. Mittoo, and Zhou Zhang)
Chapter 23 Dividend Policy across Countries (Stephen P. Ferris and Sanjiv Sabherwal)
Chapter 24 International Governance and Convergence (Stephen P. Ferris and Karen Schnatterly)
Section V. Special Topics
Chapter 25 Business Bankruptcies across Countries and the Law (Benoit Mario Papillon)
Chapter 26 Alternative Financing Methods (James Moore)
Chapter 27 Differences in Ownership Structures across Countries (Woojin Kim)
Chapter 28 Understanding Financial Market Failures (Raj Aggarwal)

HKB: Professor of Finance and Kogod Research Professor, Kogod School of Business at American UniversityLR: Associate Professor of Finance, Department of Finance and Real Estate, Kogod School of Business American University.

Contributors:
Nicola Acocella is Professor of Economic Policy at the University of Rome La Sapienza,
Pierre-Richard Agenor is Hallsworth Professor of International Macroeconomics and Development Economics at the University of Manchester
Raj Aggarwal is Sullivan Professor of International Business and Finance at the University of Akron
Yigit Atilgan is Assistant Professor of Finance at Sabanci University
Marc Auboin is Counselor in the Economic Research and Statistics Division at the World Trade Organization
H. Kent Baker is University Professor of Finance and Kogod Research Professor at American University
Taran G. Bali is David Krell Chair Professor of Finance at Baruch College, CUNY
Franck Bancel is Professor at ESCP Europe
Jenny Berrill is College Lecturer at Trinity College Dublin, Ireland
Simon J. Broome is Lecturer in Economics at National University of Ireland Maynooth
Kirt C. Butler is Associate Professor of Finance at Michigan State University
Stijn Claessens is Assistant Director in the Research Department of the International Monetary Fund
K. Ozgur Demirtas is Associate Professor of Finance at Baruch College, CUNY, and Sabanci University
Giovanni Di Bartolomeo is Associate Professor of Economic Policy at the University of Teramo, Italy
Stephen P. Ferris is Professor and J. H. Rogers Chair of Money, Credit, and Banking at the University of Missouri
Thomas J. Flavin is Senior Lecturer in Finance at National University of Ireland Maynooth
Manuela Geranio is Researcher at Bocconi University, Italy
William Gerken is Assistant Professor of Finance at Auburn University
Issam Hallak is Assistant Professor at Bocconi University, Italy
Andew Hughes Hallett is Professor of Economics and Public Policy at George Mason University and University of St. Andrews
Ulrich Hommel is Professor at the Strategic Finance Institute (SFI) at the EBS Business School and Visiting Professor at Stockholm University School of Business
Robert Johnson is Professor of Economics at the University of San Diego
Colm Kearney is Professor of International Business at Trinity College Dublin, Ireland
Woojin Kim is Assistant Professor of Finance at Seoul National University
Suk Hun Lee is Professor of Economics and Finance, Loyola University Chicago
James R. Lothian is Distinguished Professor of Finance at Fordham University
A. G. Malliaris is Professor of Economics and Finance and Walter F. Mullady Sr. Chair in Business Administration at Loyola University Chicago
Usha R. Mittoo is Bank of Montreal Professor of Finance at the University of Manitoba
James Moore is Managing Director of the Global Opportunity Fund and Adjunct Professor of International Political Economy at Golden Gate University
Thomas O'Connor is Lecturer in Finance at National University of Ireland Maynooth
Benoit Mario Papillon is Professor of Economics at the University of Quebec in Trois-Rivieres
Kate Phylaktis is Professor of International Finance and Director of the Emerging Markets Group at the University of London
Tony Porter is Professor of Political Science, McMaster University
Tobias Prokesch is Research Assistant at the Strategic Finance Institute (SFI) at EBS Business School
Leigh A. Riddick is Associate Professor of Finance at American University
Sanjiv Sabherwal is Associate Professor at the University of Texas at Arlington
Karen Schnatterly is Associate Professor at the University of Missouri
Piet Sercu is Professor of International Finance at Katholieke Universiteit Leuven
Luc Soenen is Professor of Finance at Tilburg University and Antwerp Management School
Mark P. Taylor is Dean at the Warwick Business School and Professor of Finance at the University of Warwick
Swinyai Utete is Visiting Assistant Professor of Finance at Louisiana State University
Rosanne Vanpee is Assistant Professor of Financial Management at Hogeschool-Universiteit Brussel
Zhou Zhang is Assistant Professor and Viterra Faculty Fellow at the University of Regina
Pengcheng Zhu is Assistant Professor of Finance at the University of the Pacific