TAILIEUCHUNG - Lecture Multinational financial management: Lecture 28 - Dr. Umara Noreen

This chapter emphasizes the decisions involved in the manage¬ment of cash by an MNC. The additional opportunities and risks of cash management for an MNC versus a domestic firm should be stressed. There are actually three key components of the chapter. The first is distinguishing between subsidiary control over excess cash versus centralized control. | International Cash Management 28 Lecture Chapter Objectives To explain the difference in analyzing cash flows from a subsidiary perspective versus a parent perspective; To explain the various techniques used to optimize cash flows; To explain common complications in optimizing cash flows; and To explain the potential benefits and risks of foreign investments. Complications in Optimizing Cash Flows Company-related characteristics When a subsidiary delays its payments to the other subsidiaries, the other subsidiaries may be forced to borrow until the payments arrive. Government restrictions Some governments may prohibit the use of a netting system, or periodically prevent cash from leaving the country. Characteristics of banking systems The abilities of banks to facilitate cash transfers for MNCs may vary among countries. The banking systems in different countries usually differ too. Complications in Optimizing Cash Flows Investing Excess Cash Excess funds can be invested in domestic or

• Tài chính doanh nghiệp
• Multinational financial management
• Financial management
• Lecture Multinational financial management
• International cash management
• Optimizing cash flows
• Investing excess cash
• Multinational capital budgeting
• Capital structure
• Multinational cost of capital
• Multinational cost
• Capital budgeting analysis
• International project
• Costs of capital
• Country risk analysis
• Multinational corporation
• Capital budgeting
• International financial reporting standards
• Foreign exchange risk management
• Cash flow analysis
• Centralized cash management
• Lesson International financial management
• International financial management
• Globalization Multinational Firm
• The Multinational Firm
• Multinational Corporations
• Foreign Exchange Risk
• Quản lý tài chính
• Quản lý tài chính đa quốc gia
• Multinational finance
• Finance careers
• Management control
• Corporate control
• MNCs Financial Management
• Goals of MNC
• The rise of the MNCs
• Internationalization of Business
• Multinational Financial Management Theory
• Cash flows
• Multiple choice
• International equity markets
• Measures of liquidity
• Market structure