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ID:12419878
大小:642.50 KB
页数:186页
时间:2018-07-17
《春 东财《证券投资的分析》在线作业三(随机)》由会员上传分享,免费在线阅读,更多相关内容在教育资源-天天文库。
1、SUGGESTEDANSWERSANDSOLUTIONSTOEND-OF-CHAPTERQUESTIONSANDPROBLEMSIM-186IM-186CHAPTER1GLOBALIZATIONANDTHEMULTINATIONALFIRMSUGGESTEDANSWERSTOEND-OF-CHAPTERQUESTIONSQUESTIONS1.Whyisitimportanttostudyinternationalfinancialmanagement?Answer:Wearenowlivinginaworldwhereallthemajore
2、conomicfunctions,i.e.,consumption,production,andinvestment,arehighlyglobalized.Itisthusessentialforfinancialmanagerstofullyunderstandvitalinternationaldimensionsoffinancialmanagement.Thisglobalshiftisinmarkedcontrasttoasituationthatexistedwhentheauthorsofthisbookwerelearnin
3、gfinancesometwentyyearsago.Atthattime,mostprofessorscustomarily(andsafely,tosomeextent)ignoredinternationalaspectsoffinance.Thismodeofoperationhasbecomeuntenablesincethen.2.Howisinternationalfinancialmanagementdifferentfromdomesticfinancialmanagement?Answer:Therearethreemaj
4、ordimensionsthatsetapartinternationalfinancefromdomesticfinance.Theyare:1.foreignexchangeandpoliticalrisks,2.marketimperfections,and3.expandedopportunityset.3.Discussthethreemajortrendsthathaveprevailedininternationalbusinessduringthelasttwodecades.Answer:The1980sbroughtara
5、pidintegrationofinternationalcapitalandfinancialmarkets.Impetusforglobalizedfinancialmarketsinitiallycamefromthegovernmentsofmajorcountriesthathadbeguntoderegulatetheirforeignexchangeandcapitalmarkets.Theeconomicintegrationandglobalizationthatbeganintheeightiesispickingupsp
6、eedinthe1990sviaprivatization.Privatizationistheprocessbywhichacountrydivestsitselfoftheownershipandoperationofabusinessventurebyturningitovertothefreemarketsystem.Lastly,tradeliberalizationandeconomicintegrationcontinuedtoproceedatboththeregionalandgloballevels.IM-1864.How
7、isacountry’seconomicwell-beingenhancedthroughfreeinternationaltradeingoodsandservices?Answer:AccordingtoDavidRicardo,withfreeinternationaltrade,itismutuallybeneficialfortwocountriestoeachspecializeintheproductionofthegoodsthatitcanproducerelativelymostefficientlyandthentrad
8、ethosegoods.Bydoingso,thetwocountriescanincreasetheircombinedproduction,whichallow
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