第六章 国际融资管理 International Financing Management：Chapter six examines the management of the availability and cost of international finance. On the one hand, it depicts the main sources of finance raised by international businesses. On the other hand, it analyzes the weighted average cost of capital of international businesses, and explains the optimal international financial structure to minimize the WACC.6.1国际融资来源 International Sources of Finance:Section one introduces three main types of international sources of finance available to international businesses. The first one is international trade finance, such as those in connection with documentary credit, accounts receivable pledging and factoring, and forfaiting etc. The second one is international debt finance, including international borrowing, debt finance from Euronote market and international bond market. The third one is international project finance, typically BOT finance.[单选题]The finance of negotiation in connection with documentary credit is also known as ( ).
6.2国际资本成本 International Cost of Capital:Section two analyzes the linkage between global cost and availability of capital, evaluates the effect of market liquidity and segmentation on the weighted average cost of capital, compares the weighted average cost of capital for an MNC with its domestic counterpart, and allows for the optimal international financial structure by examining the saucer-shaped cost of capital curve.
6.1国际融资来源 International Sources of Finance:Section one introduces three main types of international sources of finance available to international businesses. The first one is international trade finance, such as those in connection with documentary credit, accounts receivable pledging and factoring, and forfaiting etc. The second one is international debt finance, including international borrowing, debt finance from Euronote market and international bond market. The third one is international project finance, typically BOT finance.
6.2国际资本成本 International Cost of Capital:Section two analyzes the linkage between global cost and availability of capital, evaluates the effect of market liquidity and segmentation on the weighted average cost of capital, compares the weighted average cost of capital for an MNC with its domestic counterpart, and allows for the optimal international financial structure by examining the saucer-shaped cost of capital curve.
选项:[bill purchase, red clause, assignment of proceeds, packing loan]
[单选题]Documentary credit is usually issued in favor of a customer known as ( ).
选项:[the applicant, the advising bank, the beneficiary, the issuing bank]
[单选题]The term “forfaiting” is derived from the French “ a forfait”, which means ( ).
选项:[to finance a project, to invest in bills, to deliver goods, to surrender or relinquish rights]
[单选题]In the case of ( ) letters of credit, the beneficiary( the exporter) can be paid at sight, although it issues usance draft ( s ). 选项:[a red-clause, a deferred payment, a negotiating, a pseudo-usance]
[判断题]Packing loan is a pre-shipment financing facility made by the exporter’s bank to the exporter on the instruction of the issuing bank.（ ）
选项:[对, 错]
[单选题]Foreign subsidiaries can raise internal sources of funds from the following party or parties except ( ).
选项:[themselves by depending on their internally generated funds, their parent company, their sister subsidiaries, unrelated parties without any guarantee]
[单选题]Which of the following parties is not a principal party of a BOT finance?
选项:[lending institution, home government, vehicle company, sponsor]
[判断题]
A Panda bond is a Chinese-yuan-denominated bond issued in China by a Chinese issuer.（ ）
选项:[错, 对]
[判断题]
In the case of accounts receivable pledging, the ownership of the accounts receivable still rests with the seller, while in the case of accounts receivable factoring, the ownership of it is transferred to the factor.（ ）
选项:[对, 错]
[判断题]
Seasoned public offering is referred to as the subsequent issue of additional shares to the general public after initial floatation，which is also called the follow-on offerings.（ ）
选项:[错, 对]
[单选题]Foreign subsidiaries can raise internal sources of funds from the following party or parties except ( ).
选项:[their sister subsidiaries, unrelated parties without any guarantee, themselves by depending on their internally generated funds, their parent company]
[单选题]Documentary credit is usually issued in favor of a customer known as ( ).
选项:[the advising bank, the issuing bank, the beneficiary, the applicant]
[单选题]The finance of negotiation in connection with documentary credit is also known as ( ).
选项:[bill purchase, red clause, assignment of proceeds, packing loan]
[单选题]In the case of ( ) letters of credit, the beneficiary( the exporter) can be paid at sight, although it issues usance draft ( s ). 选项:[a negotiating, a red-clause, a pseudo-usance, a deferred payment]
[单选题]The term “forfaiting” is derived from the French “ a forfait”, which means ( ).
选项:[to deliver goods, to surrender or relinquish rights, to invest in bills, to finance a project]
[单选题]Which of the following parties is not a principal party of a BOT finance?
选项:[sponsor, lending institution, vehicle company, home government]
[判断题]Packing loan is a pre-shipment financing facility made by the exporter’s bank to the exporter on the instruction of the issuing bank.（ ）
选项:[错, 对]
[判断题]
In the case of accounts receivable pledging, the ownership of the accounts receivable still rests with the seller, while in the case of accounts receivable factoring, the ownership of it is transferred to the factor.（ ）
选项:[对, 错]
[判断题]
Seasoned public offering is referred to as the subsequent issue of additional shares to the general public after initial floatation，which is also called the follow-on offerings.（ ）
选项:[错, 对]
[判断题]
A Panda bond is a Chinese-yuan-denominated bond issued in China by a Chinese issuer.（ ）
选项:[错, 对]
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