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International Financial Management, 15th Edition

Jeff Madura, Chad Zipfel

  • Copyright 2026
  • {{checkPublicationMessage('Published', '2025-03-05T00:00:00+0000')}}
Starting At $77.95 See pricing and ISBN options
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International Financial Management 15th Edition by Jeff Madura/Chad Zipfel
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Overview

Madura/Zipfel\u2019s INTERNATIONAL FINANCIAL MANAGEMENT, 15th Edition, builds on fundamental principles of international corporate finance. The reader-friendly presentation, clear explanations and lived-in corporate perspective, focuses on the importance of finance managers within a multinational corporation. New content explores the impact of FinTech on global finance, hands-on skills and techniques to mitigate financial risks, step-by-step Excel financial models and international changes impacting MNCs and students going into the workforce. Students learn real-world scenarios they can follow along with updated Blades case at the end of each chapter. Step-by-step problems in Excel are a key change to this edition. Examples, self-tests and hands-on exercises work with MindTap online algorithmic practice problems to help students develop the skills and understanding for international finance.

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Meet the Authors

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Jeff Madura

Jeff Madura is presently Emeritus Professor of Finance at Florida Atlantic University. He has written several successful finance texts, including FINANCIAL MARKETS & INSTITUTIONS (now in its 14th edition). His research on international finance has been published in numerous journals, including Journal of Financial and Quantitative Analysis; Journal of Banking and Finance; Journal of Money, Credit and Banking; Journal of International Money and Finance; Financial Management; Journal of Financial Research; Financial Review; Journal of International Financial Markets, Institutions, and Money; Global Finance Journal; International Review of Financial Analysis; and Journal of Multinational Financial Management. Dr. Madura has received multiple awards for excellence in teaching and research and he has served as a consultant for international banks, securities firms and other multinational corporations. He served as a director for the Southern Finance Association and the Eastern Finance Association and he is also former president of the Southern Finance Association.

Chad Zipfel

What's New

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  • 15 real-world Excel problems are now included, pairing with specific chapters. These are not just algorithmic “fill in the input” calculator problems, but rather ones that require the student (and show the instructor) to think through all the necessary steps to build a working spreadsheet model that solves real problems from start to finish. This gives students tangible skills for their career, improving accuracy and efficiency in how they solve problems.
  • In key chapters where capital budgeting is demonstrated, a detailed working Excel model is now included in the text (and for instructors) that links across all 3 related chapters (chapters 14–16) with the same company and spreadsheet model.
  • Key revisions/updates to this edition include a new chapter on Fintech in global financial markets, full updates on SOFR replacing LIBOR and more emphasis on Small Business Dilemmas as a thought-starter tool for instructors to kick off each class discussion. Updated links in each chapter to websites/databases now provide more real-world applications with the material, and multiple Fortune 500 company quotes from Annual Reports or earnings calls have been added where relevant.

Features

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  • CURRENT, PRACTICAL EXAMPLES REFLECT THE LATEST IN FINANCIAL PRACTICE WORLDWIDE. This best-selling resource is recognized for its use of practical examples in every chapter. Meaningful examples, drawn from today's real international organizations, demonstrate the latest financial practices that multinational corporations rely upon every day. These examples further clarify concepts within each chapter and demonstrate the importance of what students are learning.
  • HANDS-ON EXPERIENTIAL EXERCISES PROVIDE ADDITIONAL ACTUAL PRACTICE. Engaging exercises place students in key international positions. The Blades Case follows along the same company in each chapter, giving students opportunities to apply their learning (along with all the needed features in the instructor manual to support this case).
  • SELF-TESTING QUESTIONS AND TOOLS HELP READERS CHECK AND REINFORCE COMPREHENSION. Your students can check their understanding of important concepts and skills using the large variety of self-test questions at the end of each chapter. In addition, students can use self-testing midterm and final exams to ensure they understand concepts for the best possible success in your course.
  • VARIETY OF CHAPTER APPLICATIONS PROVIDE VALUABLE HANDS-ON PRACTICE. Robust applications throughout this edition offer an extensive selection of practice opportunities. Point/Counter-Point exercises challenge students to evaluate alternative points of view, while Critical-Thinking Questions prompt short essays. In addition, Small Business Dilemmas offers a great way to kick off class discussion and Current Event exercises at the end of each chapter allow students to conduct research relevant to what they just learned.
  • INTEGRATIVE PROBLEMS DEMONSTRATE HOW FINANCIAL CONCEPTS FROM EACH CHAPTER WORK TOGETHER. An integrative problem at the end of each part clearly illustrates how concepts from each of the chapters in every part are integrated and rely upon or impact one another. In addition, parts of the text have a working Excel spreadsheet model that connects the concepts and improves student efficiency and effectiveness in solving real-world problems.
  • HANDS-ON EXPERIENTIAL EXERCISES PROVIDE ADDITIONAL ACTUAL PRACTICE. Engaging exercises place students in key international positions. "Blades” Case follows along the same company each chapter, giving students opportunities to apply their learning (along with all the needed features in the instructor manual to support this Case).
  • TIMELY UPDATES THROUGHOUT THIS EDITION REFLECT THE MOST CURRENT RESEARCH AND TRENDS FROM THE FIELD. Up-to-date content prepares your students to deal with the most recent financial changes, developments, and emerging issues in international finance.
  • SELF-TESTING QUESTIONS AND TOOLS HELP READERS CHECK AND REINFORCE COMPREHENSION. Your students can check their understanding of important concepts and skills using the large variety of self-test questions at the end of each chapter. In addition, students can use self-testing midterm and final exams to ensure they understand concepts for the best possible success in your course.
  • VARIETY OF CHAPTER APPLICATIONS PROVIDE VALUABLE HANDS-ON PRACTICE. Robust applications throughout this edition offer an extensive selection of practice opportunities. "Point/Counter-Point" exercises challenge students to evaluate alternative points of view, while Critical-Thinking Questions prompt short essays. In addition, Small Business Dilemmas offers a great way to kick off class discussion and “Current Event” exercises at end of each chapter allow for students to conduct research relevant to what they just learned.
  • INTEGRATIVE PROBLEMS DEMONSTRATE HOW FINANCIAL CONCEPTS FROM EACH CHAPTER WORK TOGETHER. An integrative problem at the end of each part clearly illustrates how concepts from each of the chapters in every part are integrated and rely upon or impact one another. In addition, parts of the text have a working Excel spreadsheet model that connects the concepts and improves student efficiency and effectiveness in solving real-world problems.

Table of Contents

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Part I: THE INTERNATIONAL FINANCIAL ENVIRONMENT.
1. Multinational Financial Management: An Overview.
2. International Flow of Funds.
3. International Financial Markets.
4. Exchange Rate Determination.
5. Currency Derivatives.
Part II: EXCHANGE RATE BEHAVIOR.
6. Government Influence on Exchange Rates.
7. International Arbitrage and Interest Rate Parity.
8. Relationships among Inflation, Interest Rates, and Exchange Rates.
Part III: EXCHANGE RATE RISK MANAGEMENT.
9. Forecasting Exchange Rates.
10. Measuring Exposure to Exchange Rate Fluctuations.
11. Managing Transaction Exposure.
12. Managing Economic Exposure and Translation Exposure.
Part IV: LONG-TERM ASSET AND LIABILITY MANAGEMENT.
13. Direct Foreign Investment.
14. Multinational Capital Budgeting.
15. Corporate Governance: International Acquisitions and Divestitures.
16. Country Risk Analysis.
17. Multinational Capital Structure and Cost of Capital.
18. Long-Term Debt Financing.
Part V: SHORT-TERM ASSET AND LIABILITY MANAGEMENT.
19. Financing International Trade.
20. Short-Term Financing.
21. International Cash Management.
22. Fintech in Financial Markets.

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MindTap
Each MindTap product offers the full, mobile-ready textbook combined with superior and proven learning tools at one affordable price. Students who purchase digital access can add a print option at any time when a print option is available for their course.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

Standalone Digital Access — Ultimate Value

Recommended and most popular

  • ISBN-10: 8214040760
  • ISBN-13: 9798214040769
  • RETAIL $99.95
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Textbook Only Options

Traditional eBook and Print Options

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  • ISBN-10: 8214040809
  • ISBN-13: 9798214040806
  • RETAIL $77.95

  • ISBN-10: 821404068X
  • ISBN-13: 9798214040684
  • RETAIL $200.95
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Supplements

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Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

FOR STUDENTS

MindTap for Madura/Zipfel's International Financial Management, 2 terms Instant Access

ISBN: 9798214040769
MindTap for Madura/Zipfel\u2019s INTERNATIONAL FINANCIAL MANAGEMENT, 15th Edition, is the online learning platform that powers students from memorization to mastery. It gives you complete control of your course to provide engaging content, challenge every individual and build their confidence. Empower students to accelerate their progress with MindTap. MindTap: Powered by You.\n\nMindTap gives you complete ownership of your content and learning experience. Customize the interactive syllabi, emphasize the most important topics and add your own material or notes in the eBook.