FINANZAS INTERNACIONALES

CORTE 1

CLASE 1 Y 2: 27 DE JULIO Y 3 DE AGOSTO

Multinational financial managment:

Stock: acciones de la empresa

Bonds: bonos de la empresa

Example:

A Company needs capital so it goes to the bank looking for financial market (stock/bond market)
so the company goes to the bank for take capital, and the bank need interest for the money they
give to the company, the company can sell the stock/bonds to countries, if i sell my stock/bonds I
get a lower interest and I get the capital for international finance

Direct investment: borrow from international finance

Cross border: frontera, mandar un producto por tierra Venezuela a Colombia
Underdeveloping countries:

An underdeveloped country is a country characterized by widespread chronic poverty and less
economic development than other nations. ... These countries have very low per capita income,
and many residents live in very poor conditions, including lacking access to education and health
care.
Developing countries:
Developing country refers a nation with a less developed industrial base and a sovereign state
with less human development indicators (HDI) than other developed countries. Per capita
income or gross domestic product (GDP) is also includes in defining a developing country.
Developed countries:

A developed country—also called an industrialized country—has a mature and sophisticated

economy, usually measured by gross domestic product (GDP) and/or average income per resident.
Developed countries have advanced technological infrastructure and have diverse industrial and
service sectors.
Customs: aduanas
Pagina para ver la economia de Colombia, exportaciones importaciones, gdp, etc.
Cost of capital: porcentaje de interés por pedir capital de un pais

CLASE 3: 10 DE AGOSTO
EXAMPLE: im the exporter and im going to do a agreement with the bank, im going to sell my
goods, im going to pay a fee to the bank

Fee: tarifa

EXAMPLE: If I do an investment of 10.000.000 shareholder, I need a return but no easily because

it is a first investment, so if is in a long term I can get the return
Po: price of the stock = 0

P1: price of tomorrow = 1

D1: dividend, return of the investment = 1

R1: return of tomorrow = P1 + D1 – P0 / P0

R1: rentabilidad por dividend – dividend yield

OUTSIDE GOAL: LONG TERM, SHAREHOLDER

INSIDE GOAL: SHORT TERM, STAKEHOLDER

CLASE 4: 17 DE AGOSTO

INSURANCE: im not expecting accidents but if happens i am tranquila

If you don’t have risk, then you don’t pay the insurance

The remaining I got it if I have an accident

HOW CAN YOUR COMPANY EXPAND IN THE MARKET
VALUE FOR MNC

FOR DOMESTIC COMPANY:

T=0 investment

Cf= cash flow

Vd= value domestic company

Vd= cf1+cf2+cf3+cf4+cf5

Numeros= años

E(cf1)= excepted cash flow in the year

Present value of cash flow= 1/(1+k) a la n ; n= cuantos años

K= discount value o excepted return

 cf$= Colombian peso

FOR INTERNATIONAL COMPANY:

M= número de paises