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SCHOOL OF BANKING AND FINANCE FINS5516 INTERNATIONAL CORPORATE FINANCE Session 1, 2003 potx

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FINS5516

1 S2.2001



SCHOOL OF BANKING AND FINANCE

FINS5516 INTERNATIONAL CORPORATE FINANCE
Session 1, 2003


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This course will equip students with the basic theoretical and practical knowledge required to
deal with international investment and financial decisions. It is relevant to a broad range of
professions including corporate treasury management, corporate finance, international
securities trading and investment management. The general emphasis is on the identification
and management of opportunities and risk relating to exchange rate fluctuations, international
financial markets and government policy changes.

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Instructor Location Telephone Consultation Hours

A/Prof Suk-Joong Kim (SK) Q3061 93854278 Monday 3-5pm
()
Prof. Fariborz Moshirian (FM Q3064 9385 5859 Wednesday 2-3pm
(
)

Dr Alfred Yawson (AY) Q3067 93854900 Thursday11-13pm
()
Please note that instructors will only response to student email correspondence that specifies the
student’s full name and student number.
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There will be two streams and students may attend either of these two streams. For each
stream, there will be two two hour lectures and one hour of tutorial each week. The time
and location are as follows:


Lectures:
1-Wednesday 11:00-14:00(for the first 6 weeks) in
Science Theatre
and from week
7 to week 14 from 15pm to 18pm
in CLB 8

2-Wednesday 18pm-21pm from week 1 to week 14 in Murphy Theatre

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FINS5516

2 S2.2001

Assessment

The assessment scheme for this course is as follows:


Mid-Session Examination 50%
Final Examination 50%


Examination Format


Both mid-session and final examinations will be of 2 to 2.5 hours in duration.


Mid-Session Examination

The Mid-Session Examination will be held at
NEW SOUTH GLOBAL on
FRIDAY 2 May 2003 from 6pm to 8.30
pm. It covers lecture materials from
lecture 1 to lecture 6. Attendance is compulsory.

Final Examination

The Final Exam will cover material from week 7 to week 14.

If you fail to sit for the examinations at the scheduled time, there is NO guarantee that a
supplementary examination will be provided.


Special Consideration


All requests for special consideration must be submitted to the Student Centre with supporting
documentation within seven days of the related examination or the due date of the related
assignment. A copy of the application form and its supporting documentation must also
be submitted to the lecturer-in-charge
. Special consideration applications will be assessed
by the school’s committee. Requests on medical grounds will not be considered unless
Section B of the application form is duly stamped and signed by a registered medical
practitioner, with clearly legible contact details. Supplementary examination will only be
granted in exceptional cases. Should any supplementary examination (mid-session or final) be
granted, it would be held AFTER the formal final examination period. Specifically, the
student must be able to demonstrate a serious illness or a serious accident injury evidenced

by a medical certificate indicating physical inability to attend.

It is the responsibility of the students to check the subject HOMEPAGE for
supplementary examination date.

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3 S2.2001

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Main Texts

Shapiro, A.C. (2002), Multinational Financial Management, Seventh Edition,
Wiley.

Other Highly Useful Texts Includes

Eiteman, D.K., A.I. Stonehill and M.H. Moffett (1998), Multinational Business
Finance, 8
th
Edition, Addison-Wesley.

Butler, K. C. (2000), Multinational Finance, 2
nd
Edition, South-Western.

Grabbe, J.O. (1996), International Financial Markets, Third Edition, New Jersey: Prentice
Hall.

Moosa, I. A. (1998) International Finance, Irwin, McGraw-Hill.


Other References

Eaker, M., F.J. Fabozzi, and D. Grant (1996) International Corporate Finance,
Dryden Press.

M. Skully, ed. (1990), International Corporate Finance: A Handbook of Australian
Business, Butterworths.


Levi, M.D. (1996), International Finance Third Edition, McGraw-Hill, 1990.

Juttner, J. (1995), International Finance and Global Investment Markets, Longmans,
Cheshire.

Gunter Duffey & Ian H. Gibby (1987), 50 Cases in International Finance, Addison &
Wesley.
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Foreign Exchange Markets and Key Relationships

Foreign Exchange Risk Management

International Corporate Finance
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FINS5516

4 S2.2001

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I.
Introduction

Lecture 1 (AY) International Financial Management
Chap 1

II. Foreign Exchange Markets and Key Relationships

Lecture 2 (AY)
Foreign Exchange Market and Exchange Rates Determination
Chaps 7 & 2

Lecture 3 (AY) The International Monetary System and Economic Linkages
Chaps 3 &5


Lecture 4 (SK) Parity Conditions in International Finance, Futures and Options
Chaps 4 & 8
III. Foreign Exchange Risk Management


Lecture 5 (SK) Measuring and Managing Transaction Exposures
Chap 10

Lecture 6 (SK)
Measuring and Managing Economic Exposure
Chapter 11


Lecture 7 (FM) Country Risk Analysis and International Taxation issues
Chaps 6 and 17A



Lecture 8 Mid-session Exam (No Lecture on that week)
(The exam will cover lecture materials up to and including that covered in lecture 6.
The exam will be held in the New South Solution on Friday 2 May 2003 at 6pm .




IV. International Corporate Finance


Lecture 9 (FM) International Portfolio and Direct Investments
Chapters 15 & 16

Fariborz Moshirian, Financial Systems in the new Millennium, Journal of
Multinational Financial Management, no 10, vol 3-4, 2001.


Fariborz Moshirian, The New International Financial Architecture, Journal of
Multinational Financial Management, Vol 3-4, 2002. Please go to the library website of the
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5 S2.2001


UNSW and then go to the elsevier web on www.elsevier.com/locate/econbae and then
under the Journal of Multinational Financial Management type the title of the article or follow
the instructions given below:

Go to: "www.elsevier.com/locate/econbase".
There click: "Journal of Multinational Financial Management".
There click: "Full Text & Abstracts".

Lecture 10 (FM) Managing the Multinational Financial System
Chapter 20

Lecture 11 (FM) Multinational Corporation Capital Budgeting and Cost of Capital
Chaps 14 & 17

Lecture 12 (FM) International Financial Markets and Short Term Financing
Chap 12, 18 & 19.4

Lecture 13 (FM)
Swaps and The Euromarkets
Chaps 9 & 13



Lecture 14 (FM) International Financial serviced
& the Review of the Final Exam

Reading: F.Moshirian, International Investment in Financial services,
Journal of Banking and Finance, Vol 26, 2001. (download from
www.elsevier.com/locate/econbase
under Journal of Banking and

Finance

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