Intendierte Lernergebnisse
This course provides an in-depth insight into the field of international financial management and how international finance managers identify, forecast and manage international foreign exchange risk. The course introduces students to international foreign exchange markets and exchange rate systems, types of corporate exposure to foreign exchange, methods of forecasting and methods of hedging and managing foreign exchange risks. Building on this, the course examines in detail international financial instruments used by financial managers including forward contracts, futures contracts, currency swaps, foreign currency bonds, and international stock markets. The course also introduces students to the sometimes difficult role financial managers have to assume in making hedging decisions and financial manager liability under modern corporate governance codes.
Lehrmethodik
Lectures and in-class problem discussions to illustrate exactly how international financial instruments, particularly derivatives, are used by finance managers.
International Financial Management
Themen
Introduction to foreign exchange markets and risksIntroduction to currency systemsInternational parity conditions and exchange rate determinationForecasting methods - technical and fundamentalInternational capital markets - debt and equity financing in different currenciesInternational corporate financeForeign currency derivatives including futures, currency options and currency swapsLiability and decision making by international financial managers
Erwartete Vorkenntnisse
Basic knowledge of economics and corporate financial management.
Literatur
Bekaert/Hodrick: International Financial Management, Second Edition, Pearson, 2012, 978-0-13-284298-3.
Sonstige Studienbehelfe
Course materials: power point slides, on-line readings, in-class problems.