2020 国际金融(广西财经学院)1451933455 最新满分章节测试答案

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本课程起止时间为:2020-03-02到2020-07-31
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【作业】CHAPTER 1： MULTINATIONAL FINANCIAL MANAGEMENT： AN OVERVIEW 跨国财务管理 单元作业：Assignment01

1、 问题:Agency Problems of MNCs. a.   Explain the agency problem of MNCs.  b.   Why might agency costs be larger for an MNC than for a purely domestic firm?
评分规则: 【 Both Enlish and Chinese are accepted言之有理即可
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2、 问题: Comparative Advantage.a.   Explain how the theory of comparative advantage relates to the need for international business. b.   Explain how the product cycle theory relates to the growth of an MNC.
评分规则: 【 Both Enlish and Chinese are accepted言之有理即可
】

3、 问题:Imperfect Markets.a.   Explain how the existence of imperfect markets has led to the establishment of subsidiaries in foreign markets.  b.   Suppose perfect markets existed.What if perfect markets existed, would wages, prices, and interest rates among countries be more similar or less similar than under conditions of imperfect markets?  Why?
评分规则: 【 Both Enlish and Chinese are accepted言之有理即可
】

4、 问题:Estimating an MNC’s Cash Flows. Biloxi Co. is a U.S. firm with a subsidiary in China. The subsidiary reinvests half of its net cash flows into operations and remits half to the parent. Biloxi Co. has expected cash flows of $10,000,000 from domestic business and the Chinese subsidiary is expected to generate 100 million Chinese yuan at the end of the year.The expected value of yuan at the end of the year is $.13. What are the expected dollar cash flows of the parent of Biloxi Co. in one year?
评分规则: 【 Both English and Chinese are acceptedThis is a simple calculation, only one solution该计算题只有唯一一个标准答案
】

CHAPTER 1： MULTINATIONAL FINANCIAL MANAGEMENT： AN OVERVIEW 跨国财务管理 单元测验：Quiz01

1、 问题:The commonly accepted goal of an MNC is to:
选项：
A:maximize short-term earnings.
B:maximize shareholder wealth.
C:minimize risk.
D:A and C.
E:maximize international sales.
答案: 【maximize shareholder wealth.】

2、 问题:For an MNC, agency costs are typically:
选项：
A:nonexistent
B:larger than agency costs of a small purely domestic firm.
C:smaller than agency costs of a small purely domestic firm.
D:the same as agency costs of a small purely domestic firm.
答案: 【larger than agency costs of a small purely domestic firm.】

3、 问题:The agency costs of an MNC are likely to be lower if it:
选项：
A:scatters its subsidiaries across many foreign countries.
B:increases its volume of international business.
C:uses a centralized management style.
D:A and B.
答案: 【uses a centralized management style.】

4、 问题:The Sarbanes-Oxley Act improved corporate governance of MNCs because it:
选项：
A:made executives more accountable for verifying financial statements.
B:eliminated stock options as a form of compensation.
C:tied executive compensation to firm performance.
D:placed a limit on the amount of funds that managers can spend.
答案: 【made executives more accountable for verifying financial statements.】

5、 问题:Assume that an MNC purchases a foreign building, and then leases the building to another party and allows that party to operate the business in the building for 30 years if the party follows standards set by the MNC. This process is referred to as:
选项：
A:a foreign acquisition.
B:franchising.
C:a licensing agreement.
D:exporting.
答案: 【a foreign acquisition.】

6、 问题:A product cycle is the process by which a firm provides a specialized sales or service strategy, support assistance, and possibly an initial investment in a franchise in exchange for periodic fees.
选项：
A:正确
B:错误
答案: 【错误】

7、 问题:Licensing is the process by which a firm provides its technology (copyrights, patents, trademarks, or trade names) in exchange for fees or some other specified benefits.
选项：
A:正确
B:错误
答案: 【正确】

8、 问题:Franchising is the process by which national governments sell state-owned operations to corporations and other investors.
选项：
A:正确
B:错误
答案: 【错误】

9、 问题:The parent of an MNC can implement compensation plans that directly reward the subsidiary managers for enhancing the value of the MNC.
选项：
A:正确
B:错误
答案: 【正确】

10、 问题:Imperfect markets reflect conditions under which factors of production are immobile.
选项：
A:正确
B:错误
答案: 【正确】

11、 问题:If a U.S. firm sets up a plant in Mexico to benefit from low-cost labor, it will likely have a comparative advantage over other firms in Mexico that sell the same product.
选项：
A:正确
B:错误
答案: 【错误】

12、 问题:If a U.S.-based MNC focused entirely on exporting, then its valuation would likely be adversely affected if most currencies were expected to appreciate against the dollar over time.
选项：
A:正确
B:错误
答案: 【错误】

13、 问题:The valuation of an MNC accounts for all the cash flows received by the foreign subsidiaries plus all the cash flows remitted by the subsidiaries.
选项：
A:正确
B:错误
答案: 【错误】

14、 问题:A microeconomic perspective focuses on external forces such as economic conditions that can affect the value of an MNC.
选项：
A:正确
B:错误
答案: 【错误】

15、 问题:Assume that an MNC has a subsidiary in Italy, which exports its products to various countries in Europe. Since all of the countries where it exports use the euro as their currency, this MNC is not subject to exchange rate risk.
选项：
A:正确
B:错误
答案: 【错误】

16、 问题:In determining the valuation of foreign projects, an MNC will always use the same required rate of return as it would for its domestic projects.
选项：
A:正确
B:错误
答案: 【错误】

17、 问题:Under the product cycle theory, foreign demand can be initially satisfied by exporting.
选项：
A:正确
B:错误
答案: 【正确】

18、 问题:A purely domestic firm may be affected by exchange rate fluctuations if it faces at least some foreign competition.
选项：
A:正确
B:错误
答案: 【正确】

CHAPTER 2： INTERNATIONAL FLOW OF FUNDS 国际资本流动 单元测验：Quiz02

1、 问题:If a country’s government imposes a tariff on imported goods, that country’s current account balance will likely ____ (assuming no retaliation by other governments).
选项：
A:decrease
B:increase
C:remain unaffected
D:either decrease or increase is possible
答案: 【increase】

2、 问题:An increase in the current account deficit will place ____ pressure on the home currency value, other things being equal.
选项：
A:upward
B:downward
C:no
D:upward or downward (depending on the size of the deficit)
答案: 【downward】

3、 问题:If the home currency begins to appreciate against other currencies, this should ____ the current account balance, other things being equal (assume that substitutes are readily available in other countries, and that the prices charged by firms remain the same).
选项：
A:increase
B:have no impact on
C:reduce
D:all of the above are equally possible
答案: 【reduce】

4、 问题:The World Bank was established to reduce poverty and promote economic development:
选项：
A:in Asia through grants to businesses.
B:by providing nonsubsidized loans (at market interest rates) to governments and their agencies.
C:by providing low-interest-rate loans (below-market rates) to poor nations.
D:through the private sector by providing loans to corporations and investing in their stock.
答案: 【by providing nonsubsidized loans (at market interest rates) to governments and their agencies.】

5、 问题:Which of the following would likely have the least direct influence on a country’s current account?
选项：
A:inflation
B:national income
C:exchange rates
D:tariffs
E:a tax on income earned from foreign stocks
答案: 【a tax on income earned from foreign stocks】

6、 问题:The "J-curve" effect describes:
选项：