Independent Research Project
Week 11 – Final
Keri Occhipinti
Table of Contents
1. Introduction
2. Operational goals and international business activities
3. Corporate governance model and ownership structure
4. The influence of exchange rate changes and its trading partners exchange rate regimes on the
company’s profits, cash flows, and market value
5. The firm’s transaction exposure and how the company manages it
6. The firm’s economic and translation exposures and their management
7. The use of international equity and debt markets for financing the company’s projects and
international operations
8. The use of interest rate and currency swaps, if any, for financing the company’s projects and
international operations
9. The firm’s foreign direct investment which is subject to political risk
10. Capital budgeting techniques applied to the company‘s international investment projects
11. Company’s global cash management and its international trade finance strategies
12. Conclusion
Financial management is “concerned with how to optimally make varies corporate financial
decisions … maximizing shareholders wealth” This is the same whether a company is multinational or
purely domestic. Although the goal for both enterprises are the same the way they go about financial
analysis is different. This also holds true for the tools a financial manager would use, when looking at
multinational businesses these tools need to be changed due to the different factors that effect
international activities. For my independent research project I looked at Apple Inc. a publicly owned
multinational company with stocks sold internationally. They do research and development in the US,
have holding companies, and distribution companies in Ireland and sell there products in over 100
counties with retail stores in Belgium, France, Germany, Italy, Netherlands, Spain, Switzerland, and the
UK. Doing business in so many different places its important for them to make sure they are utilizing
all of the tools that are available for international business and paying attention to the different factors
that go into play.
