Chapter 5 Currency Derivatives Lecture Outline Forward Market How MNCs Can Use Forward Contracts Non-Deliverable Forward Contracts Currency Futures Market Contract Specifications Trading Futures Comparison of Currency Futures and Forward Contracts Pricing Currency Futures Credit Risk of Currency Futures Contracts Speculation with Currency Futures How Firms Use Currency Futures Closing Out a Futures Position Transaction Costs of Currency Futures Currency Call Options Factors Affecting Call
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Multinational Financial Management: An Overview * Identify the management goal and organizational structure of the Multinational Corporation (MNC). * Describe the key theories that justify international business * Explain the common methods used to conduct international business * Provide a model for valuing the MNC The International Financial Environment Managing the MNC 1. Managers are expected to make decisions that will maximize the stock price *
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International Financial Centre Comparison Hong Kong and Shanghai Both Shanghai and Hong Kong are ranked in the top five global financial centre according to GFCI‚ 2011[1]. Shanghai keeps up with Hong Kong in finance field in the recent years. We pick up four criteria including diversity of financial products‚ availability of qualified staff‚ taxation of capital gains and local currency convertibility to compare Hong Kong and Shanghai. Diversity of financial products The diversities of financial
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1. About non-profits: Briefly describe what type of organization qualifies as a “non-profit” or community benefit organization. An organization that will qualifies as a non-profit organization would be an organization serving homeless individuals with healthcare‚ meals‚ shelter and social services. An example of a non-profit organization in Fresno‚ CA is the Poverello House which offers all the services said above. How does society benefit from having a healthy community of CBO’s? Society
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Running head: How Do I Learn Best How Do I Learn Best Kelli Powell Grand Canyon University: NRS 429V September 30‚ 2012 What is a learning style? Well a learning style is the way a person tends to learn best. It involves your preferred method of taking in‚ organizing‚ and making sense of information‚ Lake Washington Institute of Technology (2012). Some people prefer to learn by doing and touching‚ others prefer to learn by seeing‚ or by hearing the information. Still others learn
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The International Monetary Fund The original policies and goals created in 1944 by the International Monetary Fund (IMF) differ little from the main focus of the organization at present. The IMF was created to rebuild and stabilize the world economy after World War II. And to this day it continues in its efforts to support and stabilize the economies of its member nations. Initially the IMF was created to help ward off what was thought to be an imminent post war depression. It was founded at the
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time the state is still a substantial actor on the International Relations Stage. Furthermore the EU’s integration has its origins in the 1950s‚ which can give us a clear example of how this integration‚ although increased by recent tides of communications and transportation technologies‚ has been a long-standing process. This essay will examine globalisation within the EU through a Transformationalist perspective to explore the extent of the impact of globaliation in Europe to see what it can tell
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the Americas thus the spread of colonization‚ and imperialism. Global interconnectivity or globalization transcends local and national boundaries and presents both positive and negative impacts to industrialized‚ along with ‘developing’ countries. Globalization is presented almost as a modern day utopia‚ whereas‚ the evidence suggests the contradictory. One of the main difficulties presented by globalization is the investment of multinational corporations within developing countries. The interconnectivity
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Overview of the objectives of strategic financial management What is financial management? That part of management accounting concerned with setting financial objectives‚ planning and acquiring the optimum finance to meet them‚ and seeing that fixed and working capital are effectively managed.’ (CIMA). Two fundamental questions: 1. What investments should a firm make? Long term investments are referred to as capital investment projects’ e.g. build a new supermarket or factory. 2
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questions: 1. In what long-term assets should the firm invest? (Capital budgeting) 2. How can the firm raise cash for required capital expenditures? (Capital structure) 3. How should short-term operation cash flows be managed? (Working capital management) Forms of business organization: Proprietorship- single owner Partnership- more than one owner Corporation- legal entity separate and distinct form its owners and managers. Corporations Advantages: Unlimited life- independent of owners
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