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大小:2.42 MB
页数:32页
时间:2019-10-08
《Chapter 9. International Financial Markets》由会员上传分享,免费在线阅读,更多相关内容在行业资料-天天文库。
1、Chapter9.InternationalFinancialMarkets2011.04.29ContentsLearningObjectives1.InternationalCapitalMarket2.MainComponentsoftheInternationalCapitalMarket23.ForeignExchangeMarket4.HowtheForeignExchangeMarketWorks6.CurrencyConvertibility5.ForeignExchangeMarketTodayLe
2、arnedinthischapterLearningObjectivesDescribethepurposes,development,andfinancialcentersoftheinternationalcapitalmarket.Describetheinternationalbond,internationalequity,andEurocurrencymarkets.Discussthefourprimaryfunctionsoftheforeignexchangemarket.3Explainhowcu
3、rrenciesarequotedandthedifferentratesgiven.Identifythemaininstrumentsandinstitutionsoftheforeignexchangemarket.Explainwhyandhowgovernmentsrestrictcurrencyconvertibility.WiiIstheChampionNintendoreportednetincomein2008of¥257.3billion($2.6billion),butalsoreportedt
4、hatitsincomeincludedaforeignexchangelossof¥92.3billion($923.5million).Ariseoftheyenagainstforeigncurrenciespriortothetranslationofsubsidiaries’earningsintoyencausedtheloss.Asyoureadthischapter,considerhowshiftingcurrencyvaluesaffectfinancialperformanceandhowman
5、agerscanreducetheirimpact.41.InternationalCapitalMarketAcapitalmarketisasystemthatallocatesfinancialresourcesintheformofdebtandequityaccordingtotheirmostefficientuses.Itsmainpurposeistoprovideamechanismthroughwhichthosewhowishtoborroworinvestmoneycandosoefficie
6、ntly.PurposesofNationalCapitalMarketsNationalcapitalmarketshelpindividualsandinstitutionsborrowthemoneythatotherindividualsandinstitutionswanttolend.51.InternationalCapitalMarketDebt-Loaninwhichtheborrowerpromisestorepaytheborrowedamount(theprincipal)plusaprede
7、terminedrateorinterest.Bond-Debtinstrumentthatspecifiesthetimingofprincipalandinterestpayments.61.InternationalCapitalMarketEquity-Partownershipofacompanyinwhichtheequityholderparticipateswithholderparticipateswithotherpartownersinthecompany’sfinancialgainsandl
8、osses.Stock-Sharesofownershipinacompany’sassetsthatgiveshareholdersaclaimonthecompany’sfuturecashflows.71.InternationalCapitalMarketPurposesoftheInternationalCapitalMarketTh
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