International Financial Management

Vztahy:

Předmět G63E1302 nesmí být zapsán, je-li v témže semestru zapsán anebo již dříve absolvován předmět 32ME-P-IFMN-01 (vztah je symetrický)

Předmět G63E1302 může být splněn v zastoupení předmětem 32ME-P-IFMN-01

Garant předmětu:

Přednášející:

Cvičící:

Předmět zajišťuje:

institut ekonomických studií

Anotace:

This course provides concepts related to financial management of any multinational company functioning in several countries and thus dealing with exchange rate and interest rate risks. The hedging strategies against those risks are covered via money market and financial derivatives such as forwards, futures, options, and swaps. Profitable situations in the foreign exchange market are also described using locational arbitrage, triangle arbitrage, and covered interest arbitrage. Operational aspects of managing financially a multinational company are presented as well. The main textbook is Eun, Resnick, and Chuluun (2021), yet Madura and Fox (2020) can be also read for this course. There will be lectures and exercise sessions, where different problem sets based on lecture materials are solved together in class.

Požadavky:

Midterm and non-cumulative final exams count for 40% each of grade. Individual or group ten-minute presentation of students (up to three people), on any subject of this course, counts for the next 20%. Students have a chance to improve their grades by earning additional ten points (max) through a written submission of solutions to problems covered in one of the entire exercise sessions of their choice. Attendance at classes is expected to pass successfully the course.

Osnova přednášek:

The foreign exchange market and currency derivatives

•Spot and forward markets for foreign exchange

•International parity relationships

•Futures and options on foreign exchange

•Interest rate and currency swaps

Foreign exchange exposure

•Management of transaction exposure

•Management of economic exposure

•Management of translation exposure

Financial management of a multinational firm

•Foreign direct investment and cost of capital

•International capital budgeting and cash management

•International trade finance

•International tax environment and transfer pricing

Osnova cvičení:

There are exercises and problem sets solved together in class on each topic of lectures.

Cíle studia:

The main goal is to equip students with knowledge of how financial derivatives work in the foreign exchange market and can be used for managing risks faced by a multinational firm.

Studijní materiály:

1) Eun, C. S., Resnick, B. G., & Chuluun, T. (2021). International financial management. New York: McGrew Hill, 1-568.

2) Madura, J., and Fox, R. (2020). International financial management. England, Andover: Cengage Learning, 1-658.

Poznámka:

Další informace:

Pro tento předmět se rozvrh nepřipravuje

Předmět je součástí následujících studijních plánů:

• Financial management, AR 22/23, prezenční forma (povinný předmět zaměření)