among nations.* Presents a comprehensive discussion of the foreign exchange market.* Discusses the key parity conditions in international finance that relate interest rates, exchange rates, and inflation rates, and the underlying arbitrage considerations that determine them-along with numerous real-world applications.* Presents distinctions between real and nominal exchange rates and between accounting and economic exposure and their significance for exchange risk management.* Provides a comprehensive discussion of the mechanisms multinational firms use to manage interaffiliate fund flows on a global basis.* Presents the underpinnings of financial markets and the implications for international capital flows.* Presents specialized financing and risk management techniques.* Discusses the assessment of the cost of capital for foreign investments.* Discusses the nature and consequences of international portfolio investment, including emerging market investments.* Presents the development of global strategies of multinational corporations.* Provides the means for analyzing foreign investments.* Covers political risk measurement and management.* Includes a number of distinctive pedagogical features including real-world examples, vignettes, illustrations, and hundreds of realistic end-of-chapter questions and problems.

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