国际财务管理（英文版）第11版马杜拉答案Chapter3.pdf

该【国际财务管理（英文版）第11版马杜拉答案Chapter3 】是由【1781111****】上传分享，beplayapp体育下载一共【9】页，该beplayapp体育下载可以免费在线阅读，需要了解更多关于【国际财务管理（英文版）第11版马杜拉答案Chapter3 】的内容，可以使用beplayapp体育下载的站内搜索功能，选择自己适合的beplayapp体育下载，以下文字是截取该文章内的部分文字，如需要获得完整电子版，请下载此beplayapp体育下载到您的设备，方便您编辑和打印。:..’sValue:..-to-dayoperationsofMNCs,includingforeignexchangetransactions,investinginforeignmarkets,??-termfunds?Whataboutafirmthatneedslong-termfunds?CriticaldebateShouldfirmsthatgopublicengageininternationalofferings?(IPO),,,,,,,??:,,,,say,theBritishpoundincreasesthreedaysinarow,onthefourthdaythereisstilla50:,thereforethepriceismore:..,iftheforwardmarketpredictsariseinvalue,onaverage,,,ifitweresounpredictableandthereforeunprofitabletothespeculator,howisitthatthereissuchavastsumofmoneybeingtradedeverydayforspeculativepurposes–,buycurrenciesthathaveincreasedthreedaysinarowandonaverageyoushouldmakeaprofit,(theirloss),checkallfourthdaychangesafterthreedaysofrises,anydifferenceisgoingtobenotenoughtocoveruracyinyourfigureswhicharelikelytobeclosingdaymidpointofthebid/,allcurrencymovementsarerelatedtoinformationandno-?Couldtherebeundiscoveredpatterns?Couldsomemovementsnotberelatedtoinformation?Couldsomeprivatenewsbeleakingout?ANSWER:,doesmarketinefficiencynecessarilyinvolvepatterns,,,theluckyspeculatorfromthespeculatorwhowasintheknow.:..:,::IftheAustraliandollarappreciatesovertheinvestmentperiod,thisimpliesthattheFrenchfirmpurchasedtheAustraliandollarstomakeitsinvestmentatalowerexchangeratethantherateatwhichitwillconvertA$,:IftheJapaneseyenappreciatesovertheborrowingperiod,,:Theimportantcharacteristicsare(petitivenessofthequote,(2)thefirm’srelationshipwiththebank,(3)speedofexecution,(4)adviceaboutcurrentmarketconditions,and(5)’sbidpriceforUSdollarsis￡￡?ANSWER:(￡–￡)/￡=.%:...:directratesare1/=$:1pesoastheaskrateand1/=$:1pesoasthebidratesothespreadis[($–$)/$]=.041,%.,shouldithedgeitsexportswithaforwardcontract?Explain..ANSWER:,inthiscase,:￡,whatistheindirectrateoftheeuro?Thatis,whatisthevalueofapoundineuros?ANSWER:1/=’scurrency(thezloty)isworth￡￡(implied)rateofthezlotywithrespecttoyen?ANSWER:￡/￡=34zloty::,:BankssettheloanratebasedontheprevailingLIBOR,andallowtheloanratetofloat(changeevery6months)?,credit,andbondmarketsdifferfromoneanother.:..ANSWER:(1);and(2)-termdepositsandloans,whiletheinternationalcreditmarketisusedtotapmedium-termloans,andtheinternationalbondmarketisusedtoobtainlong-termfunds(byissuinglong-termbonds).:,,,thebandswereeliminatedsothatratescouldrespondtomarketforceswithoutlimits(althoughgovernmentsstilldidinterveneperiodically)..[Seethechapterappendix.]ANSWER:,theIndonesianstockmarketdeclinedbyabout27%,%.,whoaretheborrowers???ANSWER:,(Londoninterbankofferrate).:..,wheretheCanadiandollarwasworth￡$200fromyourtripandcouldexchangethemforpoundsattheairport,buttheairportforeignexchangedeskwillonlybuythemfor￡,￡$?:$forpesosattheforeignexchangedesk,theC$200ismultipliedby￡￡￡=$.=1454pesos,?ANSWER:,thesefirmsmayhaveforeigncurrencyinflowsintheforeigncountryth