国际金融第十版

CHAPTER 1
The Foreign Exchange Market 3
Opening Case
The Rise (and Fall) of the Japanese Yen 3
Introduction 4
The Functions of the Foreign Exchange Market 5
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CHAPTER 1
The Foreign Exchange Market 3
Opening Case
The Rise (and Fall) of the Japanese Yen 3
Introduction 4
The Functions of the Foreign Exchange Market 5
Currency Conversion 5
Insuring against Foreign Exchange Risk 6
Management Focus
Volkswagen’s Hedging Strategy 8
The Nature of the Foreign Exchange Market 9
Economic Theories of Exchange Rate Determination 10
Prices and Exchange Rates 11
Country Focus
Quantitative Easing, Inflation, and the U.S. Dollar 15
Interest Rates and Exchange Rates 16
Investor Psychology and Bandwagon Effects 17
Summary of Exchange Rate Theories 18
Exchange Rate Forecasting 18
The Efficient Market School 18
The Inefficient Market School 19
Approaches to Forecasting 19
Currency Convertibility 20
Implications for Managers 21
Management Focus
Dealing with the Rising Euro 23
Chapter Summary 25
Critical Thinking and Discussion Questions 25
Research Task 26
Closing Case
Billabong 26
Endnotes 28
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