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Multinational Business Finance 10th Edition Solution Manual IM Science, KUST, Solution Manual of MBF 10tth Edition Prepared By Wasim Uddin Orakzai 1 Multinational Business Finance 10th Edition Solution Manual Chapter-1 Financial Goals & Corporate Governance 8 Problem # 1.1: Shareholder Returns……………………………………… 9 Problem # 1.2: Shareholder Choices…………………………………….. 9 Problem # 1.3: Microsoft`s Dividend…………………………………….... 10 Problem # 1.4: Dual Classes of Common Stock………………………… 10 Problem # 1.5: Corporate Governance: Minority Shareholder Control… 11 Problem # 1.6: Price/Earnings Ratios and Acquisitions………………… 12 Problem # 1.7: Corporate Governance: Overstating Earnings…………. 13 Problem # 1.8: Carlton Corporation`s Consolidated Results…………… 14 Problem # 1.9: Carlton`s EPS Sensitivity to Exchange Rates………..… 15 Problem # 1.10: Carlton’s Earnings & Global Taxation…………….....… 17 Chapter-2 Problem # 2.1: Problem # 2.2: Problem # 2.3: Problem # 2.4: Problem # 2.5: Problem # 2.6: Problem # 2.7: Problem # 2.8: Problem # 2.9: Chapter-3 The International Monetary System (IMS) 19 Frankfurt & New York................................................. 20 Peso Exchange Rate Changes……………………….. 20 Good as Sold……………………………………………. 22 Gold Standard…………………………………………… 22 Spot Rate Customer……………………………………. 22 Forward Rate……………………………………………. 23 Forward Discount on the dollars………………………. 23 Forward Premium on the euro………………………… 24 Iraqi Imports…………………………………………….. 26 Balance of Payments (BOP) 28 Problems # 3.1 - 3.4: Problems # 3.5 - 3.9: Problems # 3.10 - 3.13: Problems # 3.14 - 3.20: Australia`s Current Account…………………… 29 Uruguay`s Current Account…………………… 30 Myanmar`s Balance of Payments……………. 31 Argentina`s Balance of Payments………….… 32 IM Science, KUST, Solution Manual of MBF 10tth Edition Prepared By Wasim Uddin Orakzai 2 Multinational Business Finance 10th Edition Solution Manual Chapter-4 Foreign Exchange Market (FEM) 35 Problem # 4.1: Problem # 4.2: Problem # 4.3: Problem # 4.4: Problem # 4.5: Problem # 4.6: Problem # 4.7: Problem # 4.8: Problem # 4.9: Problem # 4.10: Problem # 4.11: Problem # 4.12: Problem # 4.13: Problem # 4.14: Problem # 4.15: Problem # 4.16: Ringgit up or down?............................................... 36 Forward Premium & Discounts……………………. 37 Trading in Switzerland……………………………… 41 Yen Forward Premium……………………………… 42 Euro Forward Premium…………………………….. 43 Traveling: Copenhagen to St. Petersburg……….. 44 Riskless Profit on the Franc……………………….. 45 Trans Atlantic Arbitrage……………………………. 47 Wall Street Journal quotes and premiums………. 48 Finanial Times quotes……………………………… 49 Venezuelan Bolivar (A)…………………………….. 50 Venezuelan Bolivar (B)…………………………….. 51 Indirect Quotation on the Dollar…………………… 54 Direct Quotation on the Dollar…………………….. 55 Mexican Peso - European Euro Cross Rates…… 57 Around the Horn……………………………………. 58 Chapter-5 Foreign Currency Derivatives (FCD) 60 Problem # 5.1: Problem # 5.2: Problem # 5.3: Problem # 5.4: Problem # 5.5: Problem # 5.6: Problem # 5.7: Problem # 5.8: Problem # 5.9: Problem # 5.10: Problem # 5.11: Problem # 5.12: Problem # 5.13: Problem # 5.14: Problem # 5.15: Peso Futures…………………………………………. 61 Pounds Futures………………………………………. 62 Hans Schmidt, euro Speculator…………………….. 63 Hans Schmidt, Swiss franc Speculator……………. 65 Katya & the yen………………………………………. 68 Samuel’s bet………………………………………….. 70 How much profit – calls?……………………………. 71 How much profit – puts?......................................... 72 Falling Canadian dollar……………………………….. 73 Braveheart`s Put on Pounds………………………… 75 Call Options on British pounds……………………… 78 Put Options on euros………………………………… 79 Solar Turbines and Venezuelan bolivares………… 80 Vitro de Mexico……………………………………… 81 Put Options on Chinese Renminbi………………... 82 Chapter-6 International Parity Conditions (IPC) 83 Problem # 6.1: Big Mac Hamburger Standard……………………… 84 IM Science, KUST, Solution Manual of MBF 10tth Edition Prepared By Wasim Uddin Orakzai 3 Multinational Business Finance 10th Edition Solution Manual Problem # 6.2: Exchange Rate Pass-Through…………………….. 85 Problem # 6.3: Argentine pesos…………………………………….. 87 Problem # 6.4: International Fisher Effect…………………………. 89 Problem # 6.5: Covered Interest Arbitrage (CIA) - Denmark I…… 92 Problem # 6.6: CIA Denmark B – Part (a) & Part (b)……………… 94 Problem # 6.7: CIA– Japan………………………………………….. 97 Problem # 6.8: Uncovered Interest Arbitrage – Japan……………. 98 Problem # 6.9: International Parity Conditions in Equilibrium……. 99 Problem # 6.10: Mary Smyth – CIA…………………………………… 102 Problem # 6.11: Mary Smyth – UIA…………………………………… 103 Problem # 6.12: Mary Smyth -- one month later…………………….. 105 Problem # 6.13: Langkawi Island Resort…………………………….. 106 Problem # 6.14: Covered Interest against the Norwegian krone…... 107 Problem # 6.15: Frankfurt and New York…………………………….. 109 Problem # 6.16: Chamonix chateau rentals…………………………. 110 Problem # 6.17: East Asiatic Company – Thailand…………………. 111 Problem # 6.18: Maltese Falcon: 2003-2004………………………… 114 Problem # 6.19: London Money Fund………………………………… 115 Problem # 6.20: The African Beer standard of PPP…………………. 118 Chapter-7 Foreign Exchange Rate Determination 120 Problem # 7.1: Problem # 7.2: Problem # 7.3: Problem # 7.4: Problem # 7.5: Problem # 7.6: Problem # 7.7: Problem # 7.8: Problem # 7.9: Problem # 7.10: Chapter-8 Problem # 8.1: Problem # 8.2: Problem # 8.3: Problem # 8.4: Problem # 8.5: Problem # 8.6: Current spot rates………………………………….… 122 Purchasing power parity forecasts…………….…… 123 International Fisher forecasts………………………. 125 Implied real interest rates…………………………… 127 Forecasting with real interest rates………….…….. 129 Forward rates………………………………….……… 131 Real economic activity and misery………….……… 133 Balance of payments approach……………….……. 135 Current accounts and spot rates…………………… 135 Exchange Rate Trends and Bounds……………….. 135 Transaction Exposure 136 Lipitor in Indonesia…………………………………… 137 Embraer of Brazil…………………………………….. 138 Mattel Toys…………………………………………… 139 Hindustan Lever……………………………………… 140 Tek - Italian Account Receivable…………………… 141 Tek - Japanese Account Payable………………….. 143 IM Science, KUST, Solution Manual of MBF 10tth Edition Prepared By Wasim Uddin Orakzai 4 Multinational Business Finance 10th Edition Solution Manual Problem # 8.7: Problem # 8.8: Problem # 8.9: Problem # 8.10: Problem # 8.11: Problem # 8.12: Problem # 8.13: Problem # 8.14: Problem # 8.15: Problem # 8.16: Problem # 8.17: Problem # 8.18: Problem # 8.19: Problem # 8.20: Problem # 8.21: Problem # 8.22: Problem # 8.23: Problem # 8.24: Problem # 8.25: Chapter-9 Tek - British Telecom Bid…………………………… 145 Tek -- Swedish Price List…………………………… 146 Tek -- Swiss Dividend Payable…………………….. 148 Northern Rainwear…………………………………... 150 Vamo Road Industries………………………………. 151 Worldwide Travel……………………………………. 152 Seattle Scientific, Inc……………………………….. 153 Wilmington Chemical Company…………………… 154 Dawg-Grip, Inc……………………………………..... 155 Aqua-Pure……………………………………………. 157 Botox Watch Company……………………………… 159 Redwall Pump Company…………………………… 160 Pixel`s Financial Metrics……………………………. 162 Scout Finch and Dayton Manufacturing (A)………. 163 Scout Finch and Dayton Manufacturing (B)………. 165 Siam Cement………………………………………… 167 Aswan Project: Mitsubishi`s Exp. (Part a & b)…… 168 Aswan Project: Fluor`s Exposure………………….. 171 Aswan Project: DaSilva`s Contingency Lever…….. 173 Operating Exposure 174 Problem # 9.1: Carlton Germany - Case 4…………………………… 175 Problem # 9.2: Carlton Germany - Case 5…………………………… 176 Problem # 9.3: Denver Plumbing Company (A)……………………… 178 Problem # 9.4: Denver Plumbing Company (B)……………………... 178 Problem # 9.5: Hawaiian Macadamia Nuts………………………….. 179 Problem # 9.6: Cellini Fashionwear…………………………………… 180 Problem # 9.7: Autocars, Ltd………………………………………….. 181 Problem # 9.8: High-Profile Printers, Inc. (A)………………………… 182 Problem # 9.9: High-Profile Printers, Inc. (B)………………………… 183 Problem # 9.10: Hedging Hogs: Risk-Sharing at Harley Davidson…. 185 Chapter-10 Translation Exposure (Accounting Exposure) 187 Problem # 10.1: Problem # 10.2: Problem # 10.3: Problem # 10.4: Problem # 10.5: Problem # 10.6: Carlton Germany (A)……………………………….. 188 Carlton Germany (B)……………………………….. 189 Carlton Germany (C)……………………………….. 191 Carlton Germany (D)……………………………….. 192 Montevideo Products, S.A. (A)……………………. 193 Montevideo Products, S.A. (B)……………………. 194 IM Science, KUST, Solution Manual of MBF 10tth Edition Prepared By Wasim Uddin Orakzai 5 ... - tailieumienphi.vn