The Forex is an over-the-counter market. Traders are located in the major commercial and investment banks around the world. They use different networks including the SWIFT (for Society for Worldwide Interbank financial telecommunications, Belgian not-for-profit cooperative. The Swift is also used for international payments. Each message is encrypted. Need some time and has some cost).
Devaluation: very big risk for a foreign investor. Foreign exchange rates are influenced by differences in inflation rates among countries, by differences in interest rates, by government policies and by transactions/ expectations in the foreign exchange markets. Currency futures are traded in the whole centrale Europe. If forward-exchange rates are greater than the spot-exchange rate in a particular currency, the forward foreign currency is said to be at a premium.
Interest rates >>
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Corporate finance
The subject: corporate finance
PART ONE: CAPITAL EXPENDITURE
The present value
Investment
decisions
Practical
problems in capital budgeting
Firms evaluation
PART TWO. BASICS OF FINANCE
The financial
markets
Options
The market
efficiency
Risk
Mergers,
Acquisitions, and Corporate Control
International
Financial Management
PART THREE FINANCING DECISIONS
Corporate
financing
Dividend policy
and capital structure
PART FOUR FINANCIAL MANAGEMENT
Financial
planning
Short-term
financial management
Courses created and updated by Dr David Chelly, PhD in Management sciences from the University of Tours.
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