Part 1：The International Financial Environment 1
1.Multinational Financial Management：An Overview 2
2.Exchange Rate Determination 23
3.Currency Derivatives 35
Part 2：Exchange Rate Behavior 85
4.International Arbitrage and Interest Rate Parity 86
5.Relationships among Inflation， Interest Rates，and Exchange Rates 122
Part 3：Exchange Rate Risk Management 147
6.Forecasting Exchange Rates 148
7.Measuring Exposure to Exchange Rate Fluctuations 178
8.Managing Transaction Exposure 205
9.Managing Economic Exposure and Translation Exposure 244
Part 4：Long-Term Asset and Liability Management 267
10.Direct Foreign Investment 268
11.Multinational Capital Budgeting 283
12.International Acquisitions 318
13.Country Risk Analysis 342
14.Multinational Cost of Capital and Capital Structure 368
15.Long-Term Financing 396
Part 5：Short-Term Asset and Liability Management 423
16.Financing International Trade 424
17.Short-Term Financing 441
18.International Cash Management 461
Appendix A：Answers to Self Test Questions 498
Appendix B：Supplemental Cases 509
Appendix C：International Investing Project 529
Glossary 532