International business activity is not new. The transfer of goods and services across national borders has been taking place for thousands of years, antedating even Joseph's advice to the rulers of Egypt to establish that nation as the granary of the Middle East. Since the end of World War II, however, international business has undergone a revolution out of which has emerged what is probably the most important economic phenomenon of the latter half of the 20th century: the multinational corporation. The sixth edition of Multinational Financial Management provides the conceptual framework within which key financial decisions of the multinational firm can be analyzed. The emphasis throughout the book is on taking advantage of being a multinational corporation. Using real-world examples and illustrations of corporate practices, the text demonstrates to students the value of making judgments with a solid theoretical foundation. Beyond the traditional coverage of corporate finance, key elements including multiple currency, exchange rates, differing tax systems, and political risks such as nationalization and expropriation are explored. New to This EditionExtensive discussion of the Asian currency crisisExamination of international differences in corporate governanceExploration of the eurocurrencyAdditional coverage of the European Monetary UnionCompletely updated real-world examples that provide actual applications of financial concepts and theoriesNew cases and end-of-chapter problemsSupplements Instructor's Manual with Solutions and Test Bank This all-inclusive ancillary contains lecture outlines and objectives, key points, suggested answers to discussion questions and solutions to all end-of-chapter problems. This manual also includes a test bank completely revised and updated for the sixth edition by Joseph Greco of California State University-Fullerton. PowerPoint Lecture Presentation is available by downloading it from the comprehensive finance Web site at http://www.wiley.com/college/shapiro6E