Business, Finance & Law Books

Book SynopsisChandler argues that only with consistent attention to research and development and an emphasis on long-term corporate strategies could firms remain successful over time. He details these processes for nearly every major chemical and pharmaceutical firm, demonstrating why some companies forged ahead while others failed.Trade ReviewChandler has written an account of the industry's turbulent century that is analytical and lucid...Chandler does a remarkable job of covering the development of two industries that changed the world in the 20th century. Over the years, I have read several books that depict the colourful story of individual chemical companies, but here is one that paints them all on the same canvas. -- John Emsley * Times Higher Education Supplement *One cannot read Shaping the Industrial Century without a sense that this is a work informed by decades of inquiry into business history and the rise and fall of companies and industries across the world. The author moves quite easily and confidently across a wide range of firms to summarize the key decisions that formed the fate of these businesses...Alfred D. Chandler, Jr.'s unique perspective helps to broaden the view of the history of the pharmaceutical industry, and thereby contributes notably to the history of pharmacy. -- John P. Swann * Pharmacy in History *Shaping the Industrial Century represents an important extension of the framework that Alfred Chandler has developed in several seminal books published during his long and productive career...Chandler has done more than provide a case study of the evolution of the modern chemical and pharmaceutical industries. Shaping the Industrial Century is a dynamic demonstration of how strategy takes precedence over structure in determining the ongoing success or failure of an industry that has reached its mature phase. -- John K. Smith, Jr. * Business History Review *Table of ContentsPreface Acknowledgments Part I. Overview 1. Differences, Concepts, Themes, and Approach 2. Evolving Paths of Learning Part II. The Chemical Industry 3. The Major American Companies 4. The Focused American Companies 5. The European Competitors 6. The American Competitors Part III. The Pharmaceutical Industry 7. The American Companies: The Prescription Path 8. The American Companies: The Over-the-Counter Path 9. The American and European Competitors 10. Commercializing Biotechnology Part IV. Paths of Learning 11. The Three Revolutions: Industrial, Information, and Biotechnology Notes Index

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Book SynopsisThis updated and substantially revised 2nd edition, like its predecessor, integrates a discussion of the latest theoretical developments with a comprehensive review of empirical work. With a more cohesive writing style, reduced size, additional invaluable information, and new problems to solve, Advanced Industrial Economics, Second Edition is a key text in industrial economics.Trade Review"This is an outstanding textbook. It covers practically anything one would ever want to include in a lecture course in Advanced IO, and it does so with the perfect blending of rigorous theory and advanced empirical analysis." Gianni De Fraja, University of York, and CEPR "Stephen Martin's book is a marvellous effort. No other text provides such a comprehensive and updated overview of the literature of modern industrial economics. I wholeheartedly recommend it for graduate courses in the subject or as a reference for any professional economist.... The feature that most distinguishes Advanced Industrial Economics from competitors is the extended treatment of the literature on empirical tests of market structure and performance. This was long overdue, and Martin has to be commended for introducing new generations of students to empirical work int his field. As a teaching tool, there is much to admire in the book as well: many of the issues are given a histroical perspective so that students can better appreciate the direction in which both the theory and the empirical work has progressed. Martin also provides a wealth of material on the book's website, including an extended discussion of the theory of contestable markets as well as a solutions manual." Times Higher Education Supplement, October 2002Table of ContentsPreface. 1. Introduction:. The Scope of the Field. Theory Versus Empiricism. Barriers to Entry and the Structure–Conduct–Performance. A Decade of High Theory. An Outline of the Book. 2. Foundations of Oligopoly Theory I:. Introduction. Cournot in his Own Words. The Classical Oligopoly Theory Formulation. Best-Response Functions. Existence. Stability. Comparative Statistics: The Number of Firms. Limiting Behavior. Conclusion. 3. Foundations of Oligopoly Theory II:. Introduction. Cournot Duopoly as a Static Game. Static versus Dynamic? (Nash versus Cournot?). Conjectural Variations. The Coefficient of Cooperation. Representative Consumer Models of Product Differentiation. Cournot with Product Differentiation. Bertrand with Product Differentiation. Prices versus Quantities. Supply Function Oligopoly. Two-stage Capacity-constrained Competition. Conclusion. Problems. 4. Foundations of Oligopoloy Theory III:. Hotelling. Beyond Hotelling. Vertical Product Differentiation. The Relation between Models of Horizontal and Vertical Differentiation. Conclusion. Problems. 5. Early Empirical Studies of Structure–Conduct–Performance Relationships:. Introduction. Bain and the Critics. Early Econometric Work. Summary. 6. Debates over Interpretation and Specification:. Introduction. Market Power versus Efficiency. Measurement Issues in the Diagnosis of Market Power. Identification. Firm Effects versus Industry Effects. Conclusion. Problems. 7. Empirical Studies of Market Performance:. Introduction. Conjectures. Time Series. Avoiding Cost Data I: NEIO. Avoiding Cost Data II: The Solow Residual. Validity Checks. Event Studies. Price Versus Rate of Return. The Persistence of Profits. Not the Last Word. 8. Strategic Behavior: Investment in Entry Deterrence:. Introduction. Excess Capacity. Switching Costs. Raising Rivals' Costs. Predatory Pricing. Limit Pricing. Advertising and Limit Pricing. Animal Farm. Conclusion. Problems. 9. Advertising:. The Dorfman–Steiner Condition and Generalizations. Advertising as a Signal of Quality. Welfare Consequences of Advertising. The Duration of Advertising Effects. The Advertising Response to Entry. Conclusion. Problems. 10. Collusion and Noncooperative Collusion:. Introduction. Noncooperative Collusion in a Static Model. Noncooperative Collusion in Repeated Games. Price Wars. Conscious Parallelism. Facilitating Practices. Empirical Studies of Collusion. Conclusion. Problems. 11. Market Structure, Entry, and Exit:. Introduction. The Measurement of Seller Concentration. Entry Conditions and Market Structure. Product Differentiation as a Barrier to Entry. Financial Markets. Empirical Studies of Market Structure. Entry. Exit. Empirical Studies of Entry and Exit. Conclusion. Problems. 12. Firm Structure, Mergers, and Joint Ventures:. Introduction. Why are There Firms?. Corporate Governance. Business Groups. X-inefficiency. Horizontal Mergers. Vertical Mergers and Vertical Foreclosure. Diversification and Conglomerate Mergers. The Market for Corporate Control. Joint Ventures and Equity Interests. Conclusion. Problems. 13. Vertical Restraints:. Introduction. Incentives to Impose Vertical Restraints. Empirical Evidence. Conclusion. 14. Research and Development:. Introduction. Stylized Facts. Deterministic Innovation. Stochastic Innovation. Absorptive Capacity. Patents. Empirical Studies of R & D. Final Remarks. Problems. References. Index of Names. Index of Subjects.

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Book SynopsisA consultant with McKinsey & Co. surveys the international aluminum industry and asks why its various activities are divided among firms in the way that they are. These components include the minding of bauxite, its refining into alumina, aluminum smelting, fabrication, and manufacture of the final product.

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Book SynopsisThe role of large-scale business enterprise—big business and its managers—during the formative years of modern capitalism (1850s–1920s) is delineated in this pathmarking book. Alfred Chandler, Jr., sets forth the reasons for the dominance of big business in American transportation, communications, and central sectors of production and distribution.Trade ReviewThe Visible Hand is a revolutionary work. Business history in the past was largely about entrepreneurs—either as ‘robber barons’ or ‘industrial statesmen.’ Chandler shifts the spotlight from the promoters to the managers… The Visible Hand is a superb book—a triumph of creative synthesis. * New Republic *Chandler’s book is a major contribution to economics, as well as to business history, because it provides powerful insights into the ways in which the imperatives of capitalism shaped at least one aspect of the business world—its tendency to grow into giant companies in some industries but not into others. -- Robert L. Heilbroner * New York Review of Books *A monumental effort summarizing much of what is known about the rise of the managerial class… Chandler deserves a wide audience. -- Susan Previant Lee * New York Times Book Review *Business historians have tended to be more attracted by the great entrepreneurs—the robber barons of industry—than by the institutions they created. Professor Chandler has corrected this bias by writing a masterly account of the rise of the modern business enterprise and the methods of running it. * The Economist *Alfred Chandler has produced an extremely valuable account of the development of the large managerial firm. How—and why—did the visible hand of management supersede the invisible hand of market coordination? The study provides a rich empirical basis for work on the new frontier of industrial organization concerned with the determinants of the boundaries of the firm and the nature of interorganizational coordination in the large region between impersonal markets and complete integration. -- Victor P. Goldberg * Journal of Economic Issues *This very important work of historical synthesis by Harvard’s premier business historian should be read not only by economists and historians, but also by middle and top managers of the modern, integrated corporation. * Library Journal *Table of Contents* Introduction: The Visible Hand * Modern Business Enterprise Defined * Some General Propositions * Part I. The Traditional Processses of Production and Distribution *1. The Traditional Enterprise in Commerce * Institutional Specialization and Market Coordination * The General Merchant of the Colonial World * Specialization in Commerce * Specialization in Finance and Transportation * Managing the Specialized Enterprise in Commerce * Managing the Specialized Enterprise in Finance and Transportation * Technological Limits to Institutional Change in Commerce *2. The Traditional Enterprise in Production * Technological Limits to Institutional Change in Production * The Expansion of Prefactory Production, 1790--1840 * Managing Traditional Production * The Plantation--an Ancient Form of Large-Scale Production * The Integrated Textile Mill--a New Form of Large-Scale Production * The Springfield Armory--Another Prototype of the Modern Factory * Lifting Technological Constraints * Part II. The Revolution in Transportation and Communication *3. The Railroads: The First Modern Business Enterprises, 1850s--1860s * Innovation in Technology and Organization * The Impact of the Railroads on Construction and Finance * Structural Innovation * Accounting and Statistical Innovation * Organizational Innovation Evaluated *4. Railroad Cooperation and Competition, 1870s--1880s * New Patterns of Interfirm Relationships * Cooperation to Expand Through Traffic * Cooperation to Control Competition * The Great Cartels * The Managerial Role *5. System-Building, 1880s--1900s * Top Management Decision Making * Building the First Systems * System-Building in the 1880s * Reorganization and Rationalization in the 1880s * Structures for the New Systems * The Bureaucratization of Railroad Administration *6. Completing the Infrastructure * Other Transportation and Communication Enterprises * Transportation: Steamship Lines and Urban Traction Systems Communication: The Postal Service, Telegraph, and Telephone * The Organizational Response * Part III. The Revolution in Distribution and Production *7. Mass Distribution * The Basic Transformation * The Modern Commodity Dealer * The Wholesale Jobber * The Mass Retailer * The Department Store * The Mail-Order House * The Chain Store * The Economies of Speed *8. Mass Production * The Basic Transformation * Expansion of the Factory System * The Mechanical Industries * The Refining and Distilling Industries * The Metal-Making Industries * The Metal-Working Industries * The Beginnings of Scientific Management * The Economies of Speed * Part IV. The Integration of Mass Production with Mass Distribution *9. The Coming of the Modern Industrial Corporation * Reasons for Integration * Integration by Users of Continuous-Process Technology * Integration by Processors of Perishable Products * Intergration by Machinery Makers Requiring Specialized Marketing Services * The Followers *10. Integration by the Way of Merger * Combination and Consolidation * The Mergers of the 1880s * Mergers, 1890--1903 * The Success and Failure of Mergers *11. Integration Completed * An Overview: 1900--1917 * Growth by Vertical Integration--a Description * Food and Tobacco * Oil and Rubber * Chemicals, Paper, and Glass * The Metal Fabricators * The Machinery Makers * Primary Metals * Growth by Vertical Integration--an Analysis * The Importance of the Market * Integration and Concentration * The Rise of Multinational Enterprise * Integration and the Structure of the American Economy * Determinants of Size and Concentration * Part V. The Management and Growth of Modern Industrial Enterprise *12. Middle Management: Function and Structure * The Entrepreneurial Enterprise * American Tobacco: Managing Mass Production and Distribution of Packaged Products * Armour: Managing the Production and Distribution of Perishable Products * Singer and McCormick: Making and Marketing Machinery * The Beginnings of Middle Management in American Industry *13. Top Management: Function and Structure * The Managerial Enterprise * Standard Oil Trust * General Electric Company * United States Rubber Company * E.I. Du Pont de Nemours Powder Company * The Growing Supremacy of Managerial Enterprise *14. The Maturing of Modern Business Enterprise * Perfecting the Structure * The Professionalization of Management * Growth of Modern Business Enterprise Between the Wars * Modern Business Enterprise Since 1941 * The Dominance of Modern Business Enterprise * Conclusion: The Managerial Revolution in American Business * General Patterns of Institutional Growth * The Ascendancy of the Manager * The United States: Seed-Bed of Managerial Capitalism * Appendixes * Notes * Index

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Book SynopsisMost of Barnard’s career was spent in executive practice. A Mount Hermon and Harvard education, cut off short of the bachelor’s degree, was followed by nearly 40 years in AT&T. His association with Elton Mayo and the latter's colleagues at the Harvard Business School had an important bearing on his most original ideas.Trade ReviewFrom the ranks of the country’s leading executives comes a major contribution to the understanding of our society… The author presents an analysis of the nature of business organizations and the functions of executives in them. He has been able to stand apart from the minutiae of his everyday experiences and to view them as part of the orderly functioning of the organization as a whole… The work has important implications, for it points the way to the development of more effective co-operative systems and at the same time to the development and communication of the executive techniques essential to such systems. * The American Journal of Sociology *One of the contemporary classics on administration. It has contributed a great deal to organization theory. Often quoted, it is a basic work by a successful executive. * Business Management *Mr. Barnard has made a masterly contribution in his realistic treatment of such topics as informal organization, incentives, and the moral aspects of leadership. * Harvard Business Review *Table of ContentsPart I Preliminary Considerations Concerning Cooperative Systems I. Introduction

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Book SynopsisBy helping readers understand the financial history of this period and the way banking shaped the society in which ordinary Americans lived and worked, this book broadens and deepens our knowledge of the Early American Republic.Trade ReviewThis is a brisk, well-researched tour of how the American finance and banking sector got its start.—Financial HistoryMurphy has provided what should be the go-to source for anyone looking to understand the differences among savings banks, investment banks, and commercial banks in pre-Civil War America; to know what it meant for banks to provide discounts on commercial paper; and to know what terms like fractional reserve, independent treasury, bimetallism, shinplasters, wildcat banks, and bills of exchange meant.—Civil War Book ReviewMurphy has written what this financial historian considers a sound and reliable introductory or companion text to early American banking that is both engaging and easy-to-read, and at the same time broadly consistent with recent economic research on the topics covered.—EH.netIt [Other People's Money] does much to further our understanding of an important feature of international capital markets, and it raises crucial policy issues.—EH.NetThe strengths of this work are numerous. In addition to narrating some intriguing vignettes on Abigail Adams, Benjamin Franklin, and Herman Melville, this book contains a fascinating array of cartoons and images of credit instruments, many of which are drawn from the author’s extensive personal collection. Murphy’s writing is also straightforward; her analysis, insightful.—Common-PlaceI recommend Other People’s Money highly to anyone seeking a brief but accurate introduction to this fascinating era in banking and monetary history.—Business History ReviewOther People’s Money is a beautifully written book on “how banking worked in the early American Republic.” Part of Johns Hopkins University Press’s How Things Worked series, the target audience for this book is undergraduates studying U.S. history or economic history. The book condenses a large literature from American history and economic history as well as contemporary material from periodicals and novels into an interdisciplinary narrative of the political battles over money and banking from the early Republic to the Civil War. Murphy’s book shows that the politics of money shaped how money worked.—Jane Knodell, University of Vermont, Enterprise and SocietyIt is difficult to overstate the quality of Murphy's work. Other People's Money is an outstanding contribution that brilliantly accomplishes the herculean task of digesting the complexities of banking in the early republic. Moreover, Murphy manages to convey these points clearly in immensely readable prose. Helpful for both the layperson and the scholar, this book deserves a place on syllabi and the bookshelves of anyone with an interest in capitalism during this period. Murphy reminds the reader that the story of American banking has a long and complex history, and this erudite study does an excellent job of explaining that complexity in accessible terms.—Aaron L. Chin, University of New Hampshire, American Nineteenth Century HistoryThe real strength of Other People's Money can be found in its clear explanation of early American banking. Murphy makes a complex topic simple, but her treatment is anything but simplistic . . . Because of the book's engaging and lively discussions, I suspect that if it is assigned in classrooms Other People's Money will inspire more than a few students to dive more deeply into the complex and fascinating world of early American banking history.—Andrew J. B. Fagal, Princeton University, Journal of American HistoryTable of ContentsAcknowledgmentsPrologue. How the Bank War Worked1. How Money Worked2. How Banks Worked3. How Panics Worked4. Experiments in Money and Banking5. How Civil War Finance WorkedConclusion. Andrew Jackson, Other People's Money, and the Creation of the Federal ReserveEpilogue. Why Is Andrew Jackson Harriet Tubman on the $20 Bill?NotesSuggested Further ReadingIndex

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Book SynopsisCatalyst will transform your approach to networking, making it fun and infinitely more effective. A good business developer, prospector and networker knows how to create a positive connection with the people they meet. They are the catalyst that creates a chemical reaction between strangers, and they know how to convert these opportunities into new business.Louisa Clarke and David Kean have spent their careers catalysing strangers into contacts and converting contacts into clients - and even into friends. They have built successful businesses together using the proven techniques in this book, and they have helped hundreds of companies around the world win billions in new business by applying the same methods. Catalyst is full of illustrative anecdotes, hard-won wisdom and a step-by-step methodology. Whatever industry you work in, if you need more clients to buy your services and you''re not sure how to find them, convince them or wTrade ReviewCatalyst is a manual for winning business in today's economy, recommended to anyone who wants to grow their client base. Catalyst is brimming with great advice and inspiration -- Annette King, CEO Publicis Groupe UKCatalyst fizzes with actionable ideas. A firecracker of a book to get you blazing a trail for new business from two of the best operators around -- Julia Hobsbawm OBE, founder and chair, Editorial Intelligence and author of the bestselling The Simplicity PrincipleA must-read - especially post-Covid - for anyone involved in business generation. Entertaining whilst it educates, this indispensable guidebook is a revelation for any driven professional and will definitely put you ahead of the competition - if she hasn't read it as well. Time excellently well spent -- Jane Reeve, Chief Communications Officer, FerrariHumour is one of the only things that increases when you share it, as the authors of this immensely good-natured book on the human touch in business know. But I also found myself thinking about plumbing metaphors. May the good Lord spare us from pipeline accelerators, but here you can read and understand how in business, as in life, it's better to be a radiator than a drain -- Stephen Bayley, recovering design guru and author of Value: What money can't buy. A handbook for practical hedonismAn enjoyable and practical asset recommended to anyone who has to develop new business. It nails what it takes to find new clients and be a valued, trusted advisor to them; helping others helps us be more successful -- Guy Gregory, Executive Director, Client Care and Business Development, CBRE LtdAccelerate your understanding of how to grow business, fast. Recommended to anyone who dreads networking events: an entertaining and effective guide to oiling the wheels of business without the need to be oleaginous -- Sophie Devonshire, CEO, The Marketing SocietyAn extremely timely book. Now more than ever we need to understand how to communicate with each other better -- Rachel Bridge, author of Already Brilliant and How to Work for YourselfSuch a refreshing book about such a necessary part of doing business, and something so often misunderstood. Catalyst is athoroughly enjoyable and helpful read, packed with great examples, stories and tools for how to develop business, and, above all, packed with common sense. And all expressed in a natural and jargon-free way too. Terrific stuff -- Rita Clifton CBE, portfolio chair and non-executive directorUnlike many 'how to' business books, Catalyst is both an entertaining and informative read. It gives you a wealth of practical steps to transform the way you identify and secure new clients. It really gets you thinking about your approach and how you should flex your style to create real chemistry with prospects -- Deborah Saw * Catalyst magazine *

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Book SynopsisTrade ReviewThis immensely stimulating book enriches our understanding of comparative and international political economy with new perspectives drawn from post-Keynesian economics about how and why growth models vary across countries and time. Bringing macroeconomics back into the center of the study of comparative capitalism, the authors skillfully weave economics and politics together to yield a distinctive view of the challenges facing the contemporary world. This is an illuminating volume that all political economists will want to read. * Peter A. Hall, Krupp Foundation Professor of European Studies, Harvard University *What happens when growth slows down? This excellent book contributes to a growing research agenda on economic growth, ranging from heterodox economics and international political economy to political science. At the core are institutional differences between national growth regimes that are interconnected in the global economy. Understanding those institutions and dynamics will allow us to better guide the transition from fossil-fuelled growth towards decarbonization. * Anke Hassel, Professor of Public Policy, Hertie School *Every once in a while, a book comes along that genuinely takes the scholarly and analytical debates in a field forwards. This impressively substantial tome is just such a volume, enriching comparative capitalisms analysis in bringing together an array of the world's leading political economists to explore growth models and capitalist restructuring in many parts of the globe. This will become a landmark volume that students and scholars of the political economy interested in the politics of capitalist growth in all parts of the globe will need to read. * Ben Clift, Professor of Political Economy, University of Warwick *Table of ContentsList of Contributors Introduction: Rethinking Comparative Capitalism Lucio Baccaro, Mark Blyth and Jonas Pontusson Part 1: Theoretical Perspectives Chapter 1: Growth Models and Post Keynesian Macroeconomics Engelbert Stockhammer and Özlem Onaran Chapter 2: From Fordism to Franchise: Intellectual property and growth models in the Knowledge Economy Herman Mark Schwartz Chapter 3: Four Galtons and a Minsky: Growth Models from an IPE Perspective Herman Mark Schwartz and Mark Blyth Part 2: Growth Models at Scale Chapter 4: The Political Economy of the Eurozone's Post-Crisis Growth Model Alison Johnston and Matthias Matthijs Chapter 5: China's Growth Models in Comparative and International Perspective Yeling Tan and James Conran Chapter 6: The Politics of Growth Model Switching: Why Latin America Tries, and Fails, to Abandon Commodity-Driven Growth Jazmin Sierra Chapter 7: The FDI-led Growth Models of the East-Central and South-Eastern European Periphery Cornel Ban and Dragos Adascalitei Part 3: Country Case Studies Chapter 8: Credit and Consumption-Led Growth Models in the United States and United Kingdom Alexander Reisenbichler and Andreas Wiedemann Chapter 9: The Political-Economic Foundations of Export-led Growth: An Analysis of the German Case Lucio Baccaro and Martin Höpner Chapter 10: Rebalancing Balanced Growth: The Evolution of the Swedish Growth Model since the mid- 1990s Lennart Erixon and Jonas Pontusson Chapter 11: Growth and Stagnation in Southern Europe: The Italian and Spanish Growth Models Compared Lucio Baccaro and Fabio Bulfone Chapter 12: Global Capital and National Growth Models: The Cases of Ireland and Latvia Dorothee Bohle and Aidan Regan Part 4: Policies and Politics Chapter 13: Financialization and Growth Regimes Cornel Ban and Oddny Helgadóttir Chapter 14: Political Parties and Growth Models Jonathan Hopkin and Dustin Voss Chapter 15: Growth Models Under Austerity Evelyne Hübscher and Thomas Sattler Chapter 16: Welfare States and Growth Models: Accumulation and Legitimation Julia Lynch and Sara Watson Chapter 17: Green Growth Models Jonas Nahm Index

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Book SynopsisThis is the first definitive introduction to behavioral economics aimed at advanced undergraduate and postgraduate students. Authoritative, cutting edge, yet accessible, it guides the reader through theory and evidence, providing engaging and relevant applications throughout. It is divided into nine parts and 24 chapters: Part I is on behavioral economics of risk, uncertainty, and ambiguity. The evidence against expected utility theory is examined, and the behavioral response is outlined; the best empirically supported theory is prospect theory. Part II considers other-regarding preferences. The evidence from experimental games on human sociality is given, followed by models and applications of inequity aversion, intentions based reciprocity, conditional cooperation, human virtues, and social identity. Part III is on time discounting. It considers the evidence against the exponential discounted utility model and describes several behavioral models such as hyperbolic discounting, attribute based models and the reference time theory. Part IV describes the evidence on classical game theory and considers several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological game theory. Part V considers behavioral models of learning that include evolutionary game theory, classical models of learning, experience weighted attraction model, learning direction theory, and stochastic social dynamics. Part VI studies the role of emotions; among other topics it considers projection bias, temptation preferences, happiness economics, and interaction between emotions and cognition. Part VII considers bounded rationality. The three main topics considered are judgment heuristics and biases, mental accounting, and behavioral finance. Part VIII considers behavioral welfare economics; the main topics are soft paternalism, and choice-based measures of welfare. Finally, Part IX gives an abbreviated taster course in neuroeconomics.Trade ReviewIt is many years since the subject of African economic development has been treated with the best insights and methods that modern social science has to offer. Cramer, Sender, and Oqubay have set a new standard in this respect. * David Booth, African Affairs *The publication of this book is a landmark occasion for the field of behavioural economics. Until now there has been no comprehensive survey of the field suitable for graduate students. Professor Dhami has thoroughly and rigorously filled that gap. The book will be placed in a handy place in my office since I plan to consult it regularly. * Richard H. Thaler, University of Chicago *The Foundations of Behavioral Economic Analysis offers a fascinating mix of theory and evidence and is the most comprehensive synthesis of behavioral economics at an advanced level. It will be very useful for advanced researchers as well as for graduate students in behavioral economics and beyond. * Ernst Fehr, University of Zurich *This book is a tour de force, a literal encyclopedia of behavioral economics. Its extraordinary breadth and depth, spanning all aspects from psychological foundations to the most recent advances and seamlessly integrating theory with experiments, will make it the must-have reference for anyone interested in this field, and more generally in where economics is headed. It will quickly become the standard textbook for all graduate courses in behavioral economics, and a much-thumbed companion for all researchers working at the frontier. * Roland Benabou, Princeton University *For someone like myself, who started by being ignorant of the richness of the conversation within behavioral economics on a variety of issues, this magisterial volume is the ideal introduction, at once lucid and sophisticated. * Abhijit Banerjee, Massachusetts Institute of Technology *In Foundations of Behavioral Economic Analysis, Sanjit Dhami offers the first summary and exposition of research in this rapidly growing and increasingly influential subfield. The coverage is comprehensive, extending even to the recent subtopics of behavioural welfare economics and neuroeconomics. The book is distinguished by its detailed yet readable coverage of theory and evidence and its balanced discussion of the philosophical and methodological differences and similarities between behavioural and neoclassical approaches to microeconomics. Select undergraduates, graduate students, and interested scholars will all gain from this masterful book. * Vincent P. Crawford, University of Oxford and University of California, San Diego *Economic theory in the twentieth century developed an extremely powerful repertoire of analytical techniques for studying human behavior.Sanjit Dhami has performed a monumental task in consolidating this research and explaining the results in a rigorous yet accessible manner, while highlighting major controversies and sketching the central research questions facing us today. * Herbert Gintis, Santa Fe Institute *In the development of any field there comes a moment where the results already established must be synthesized, explained and consolidated both for those in the field and those outside. In this amazing volume Sanjit Dhami has done just that and far more. This book will serve as an encyclopedic must-have reference for anyone seeking to do work in this field or just curious about it. The coverage is exhaustive and the exposition extremely clear and at a level suitable for advanced undergraduates, graduate students and professionals. This is truly an achievement. * Andrew Schotter, New York University and Center for Experimental Social Science *Displaying wit and wisdom, in Foundations of Behavioral Economic Analysis Professor Dhami conveys both the substance and the excitement of the burgeoning field of behavioral economics. This remarkable volume will serve as a reference for practitioners and a compelling entry-point for the curious. * George Loewenstein, Carnegie Mellon University *This is a unique and truly remarkable achievement. It is a magnificent overview of behavioral economics, by far the best there is, and it should define the field for at least a generation. But it is much more than that. It is also a brilliant set of original discussions, with pathbreaking thinking on every important topic. An invaluable resource for policymakers, students, and professors - and if they want to try something really special, for everyone else. * Cass Sunstein, coauthor of Nudge and Founder and Director of the Program on Behavioral Economics and Public Policy, Harvard Law School *The expansion of behavioral economics during the past twenty years has been remarkable, much of it concerning strategic interaction and using tools from game theory. Sanjit Dhami's amazing book summarizes - and even defines - the field, broadly as well as in depth. His coverage of theory as well as of experiments is superb. The Foundations of Behavioral Economic Analysis will be an indispensable resource for students and scholars who wish to understand where the action is. * Martin Dufwenberg, University of Arizona *Sanjit Dhami's Foundations of Behavioral Economic Analysis is a major and most impressive achievement. It provides an exhaustive account and a masterful synthesis of the state of the art after more than three decades of behavioral economics. For many years to come it will be an indispensable reference for researchers in economics and psychology, and it is bound to become the standard text in graduate and advanced undergraduate courses on behavioural and experimental economics. * Klaus M. Schmidt, University of Munich *This is the most complete and stimulating book on behavioral economics. With elegance and unprecedented elaborateness, it ties together a wealth of experimental findings, rigorous theoretical insights and exciting applications across all relevant fields of behavioral research. Sanjit Dhami's work has been shaped by numerous comments from the leaders in the field. Now, in the years to come, it will be the standard that shapes how the next generation of students and researchers think about behavior and its science. * Axel Ockenfels, University of Cologne, Speaker of the Cologne Excellence Center of Social and Economic Behavior *This book covers all relevant theoretical aspects of behavioral economics in great depth. A great strength is its comprehensiveness: it covers the whole field. The book thus is unique in bringing to the fore the unity and diversity of the behavioral approach. The material is well-organized and accessible to a wide audience. It is invaluable to anyone teaching or studying any topic in behavioral economics, showing how the topic fits into the whole. * Peter Wakker, Erasmus University Rotterdam *Foundations of Behavioral Economic Analysis will be a central textbook for behavioral economics. One key feature is its appealing focus on the interplay between theory and evidence. For researchers, it will be a great source of information, puzzles, and challenges for the many years to come. It is a major achievement. * Xavier Gabaix, New York University, Stern School *Sanjit Dhami has spent more than 10 years on the monumental task to lay out the foundations of behavioral economics. The result is a major achievement. The book provides a comprehensive and encompassing survey and I think it will shape how the next generation of researchers thinks about the field. Overall, this is an excellent book that can be commended to advanced students of behavioural economics and to non-behavioural economics who are looking for an entry point into the field. It will also serve researchers in behavioural economics as an authoritative reference book. It is a must-have for anyone with a serious interest in the field. * Jean-Robert Tyran, Journal of Behavioral and Experimental Economics *The Foundations of Behavioural Economic Analysis is a major contribution to the contemporary economic studies in the areas of behavioural economics, psychology and game theory. It will remain as a major treatise on behavioural economics for many decades. I cannot think that another book will supersede this book in terms of rigour, comprehensiveness, and analytical sophistication in the foreseeable future. This book is also a very interesting and extremely useful publication for academic analysis, policy design and practical applications. * Professor.Sardar M. N.Islam, Victoria University *Almost all the chapters follow a basic structure: they sketch the neoclassical theory; review evidence on its empirical plausibility; introduce alternative behavioral theories; finally go on to discuss further evidence of the newer theories' relative successes and failures compared to the neoclassical theories. A lot of thought has gone into writing the introductions of each section as they outline the broad trends, debates, and core empirical results, making it easy to get into the detailed chapters with a clear idea of the direction of research in that topic.To sum it up, the book ends up doing exactly what it promised, take stock of behavioral economicscourse text for advanced students.., a research handbook for behavioral economists, and an invitation to economists and other social scientists of all persuasions to explore this exciting new field. * Utteeyo Dasgupta, Studies in Microeconomics *Table of ContentsPART I: BEHAVIORAL ECONOMICS OF RISK, UNCERTAINTY, AND AMBIGUITY; PART II: OTHER-REGARDING PREFERENCES; PART III: BEHAVIORAL TIME DISCOUNTING; PART IV: BEHAVIORAL GAME THEORY; PART V: BEHAVIORAL MODELS OF LEARNING; PART VI: EMOTIONS; PART VII: BOUNDED RATIONALITY; PART VIII: BEHAVIORAL WELFARE ECONOMICS; EXERCISES; PART IX: NEUROECONOMICS; APPENDIX ON GAME THEORY

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Book SynopsisNew York Times best-selling author Donald Miller uses the seven universal elements of powerful stories to teach listeners how to dramatically improve how they connect with customers and grow their businesses.

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Book SynopsisThis best-selling dictionary includes more than 3,800 entries covering all aspects of accounting, including financial accounting, financial reporting, management accounting, taxation, auditing, corporate finance, and accounting bodies and institutions. Its international coverage includes important terms from UK, US, Australia, India, and Asia-Pacific. Over 150 new entries have been added to this edition to reflect the very latest developments in the accounting profession, e.g. Accounting Coucil, European Financial Stability Mechanism, and General Anti-Abuse Rule. In addition, existing entries have been updated to cover the latest developments, most notably the Financial Reporting Standard Applicable in the UK and the Republic of Ireland, which sets out new rules in areas such as goodwill, hedge accounting, and fair value accounting. There is increased coverage of topics such as corporate governance, accounting ethics, accounting scandals, and major firms and professional bodies.With itTable of ContentsPreface Credits Dictionary

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Book SynopsisTraditionally economists have based their economic predictions on the assumption that humans are super-rational creatures, using the information we are given efficiently and generally making selfish decisions that work well for us as individuals. Economists also assume that we''re doing the very best we can possibly do - not only for today, but over our whole lifetimes too. But increasingly the study of behavioural economics is revealing that our lives are not that simple. Instead, our decisions are complicated by our own psychology. Each of us makes mistakes every day. We don''t always know what''s best for us and, even if we do, we might not have the self-control to deliver on our best intentions. We struggle to stay on diets, to get enough exercise and to manage our money. We misjudge risky situations. We are prone to herding: sometimes peer pressure leads us blindly to copy others around us; other times copying others helps us to learn quickly about new, unfamiliar situations. This Very Short Introduction explores the reasons why we make irrational decisions; how we decide quickly; why we make mistakes in risky situations; our tendency to procrastination; and how we are affected by social influences, personality, mood and emotions. The implications of understanding the rationale for our own financial behaviour are huge. Behavioural economics could help policy-makers to understand the people behind their policies, enabling them to design more effective policies, while at the same time we could find ourselves assaulted by increasingly savvy marketing. Michelle Baddeley concludes by looking forward, to see what the future of behavioural economics holds for us.ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.Trade ReviewBehavioural Economics is a valuable addition to Oxford University Press's Very Short Introduction series, being well-suited to an intelligent and curious reader with limited background in the area. Baddeley offers a broad range of concepts, thinkers, experiments and implications. The book made me curious: I found myself looking up more detailed explanations of key experiments as I moved across concepts and chapters. This is perhaps the biggest compliment of all. * Barton Edgerton, LSE Review of Books *Table of ContentsREFERENCES; FURTHER READING; INDEX

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Book SynopsisImprove your managerial skills and learn how to inspire your team''s potential.Managing people is an essential part of any business. Learning how to motivate staff effectively and apply various managing styles to different situations is vital for improving output and creativity - whether your teams are in the office, remote or a combination of both.If you''re new to managing or keen to improve existing managerial skills, this is the manager''s book for you. Inside, you''ll find:- Practical, how-to approach that teaches you the skills you need to run a project successfully- New spreads with tools for project managing teams who are working remotely- Step-by-step instructions, tips, checklists, and Ask yourself features that show you how to make an impact- Tables, illustrations, in-focus panels, and real-life case studies that demonstrate and explain problem-solving, and how to build confidence and get resultsThis business management book is the ideal guide for managers and business leaders. Essential Managers Managing People is published in a slim compact format to allow you to easily navigate through key concepts and use it as a quick reference whenever you need advice. The book includes guidance on conflict resolution, change management, effective communication, and how to get the best from your team. This manager''s training book is packed with step-by-step instructions, tips, checklists to show you how to persuade and influence people in the business. Tables, illustrations, and real-life case studies further explain how to build your confidence and boost productivity.Whether it''s negotiating, managing people, or improving your leadership skills, DK''s Essential Managers series contains the know-how you need to be a more effective manager and hone your management style.

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Book SynopsisThis sweeping history of classical economics shows how the work ethic has been used both to oppress workers and to liberate them. Today''s neoliberalism offers an oppressive version of the work ethic. However, the work ethic also offers resources for reorganizing the economy on behalf of ordinary people--Trade Review'Hijacked is an important and fascinating book that tells the spellbinding story of the struggle between conservatives and progressives over the Protestant work ethic. Nobody matches Anderson's distinctive combination of historical, political, and philosophical insight.' Stephen Darwall, author of Modern Moral Philosophy: From Grotius to Kant'This critical examination of the Protestant work ethic and its evolution in social and economic theory outlines the challenges of preserving rewarding and purposeful work in liberal economies where free market capitalism has eroded both aspirations and capabilities, undermining the intrinsic dignity and meaning of work.' Richard Donkin, author of The History of Work'Most of us will spend a significant part of our lives at work. But work conditions differ radically and the working poor often face brutal and dehumanizing workplaces. In this brilliant book, Anderson uncovers the role of a skewed version of the work ethic in shaping these harsh conditions. This skewed version turned the values of industry, prudence, and frugality against workers, while leaving the predatory and idle rich off the hook. Not only does Anderson offer a subtle diagnosis of the origins of today's stigmatization and deprivation of the poor, but she offers creative ideas for reclaiming the work ethic in the service of democracy. Her superb analysis, connecting political philosophy with both history and political economy, will stimulate wide debate.' Debra Satz, coauthor of Economic Analysis, Moral Philosophy, and Public Policy'As rigorous as it is approachable, this poignant plea for worker dignity contextualizes one of today's most salient economic issues.' Publishers Weekly'If we arm ourselves with Elizabeth Anderson's superb history of the work ethic, we obtain a powerful lens with which to explore at a perfect time - during party conference season - how different visions of work form the beating heart of ideological struggle.' Morning StarTable of ContentsPreface; 1. The dual nature of the Protestant work ethic and the birth of utilitarianism; 2. Locke and the progressive work ethic; 3. How conservatives hijacked the work ethic and turned it against workers; 4. Welfare reform, famine, and the ideology of the conservative work ethic; 5. The progressive work ethic (1): Smith, Ricardo, and Ricardian socialists; 6. The progressive work ethic (2): J. S. Mill; 7. The progressive work ethic (3): Marx; 8. Social democracy as the culmination of the progressive work ethic; 9. Hijacked again: Neoliberalism as the return of the conservative work ethic; 10. Conclusion: What should the work ethic mean for us today?; Acknowledgments; Major works cited; Notes; Index.

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Book SynopsisTable of Contentsacknowledegments ix about the author xi introduction xiii plan chapter 1 consider your audience 3 chapter 2 craft your message 25 chapter 3 compile the pieces 45 chapter 4 form a story 65 create chapter 5 set the style & structure 91 chapter 6 say it with words 127 chapter 7 show data in graphs 151 chapter 8 illustrate with images 187 deliver chapter 9 refine through practice 219 chapter 10 build your confidence 243 chapter 11 introduce yourself 273 chapter 12 have a stellar session 289 appendix 309 index 333

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Book SynopsisBook five in the sensational Magnolia Parks Universe series! How many loves do you actually get in a lifetime? Everyone knows by now that Magnolia Parks and BJ Ballentine are in the stars, but is that enough? Magnolia and BJ are reeling from a devastating loss as they try to plan what''s been dubbed ''the wedding of the century''. As family tensions mount and their respective pasts begin catching up to them, they finally have to look the truth in the eye: Can they learn to trust and be with one another again, or will they die trying?READERS LOVE THE MAGNOLIA PARKS UNIVERSE''Magnolia and BJ have embedded themselves into my DNA.'' ⭐⭐⭐⭐⭐''This book gave drama, love triangles, toxicity, chaos and I ate up every single moment.'' ⭐⭐⭐⭐⭐''TikTok made me do it, 1000% lived up to the hype.'' ⭐⭐⭐

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Book SynopsisBy the author of the #1 bestseller THE BIG SHORT and the original business classic LIAR'S POKER comes a reissue of the definitive and hugely entertaining book about America and Japan.Trade ReviewPraise for LIAR'S POKER: 'An amazing book, readable, funny and mind-boggling ... one of the great business books of all time' * Punch *Read all about it: headlong greed, inarticulate obscenity, Animal House horseplay . . . * The Sunday Times *Immense verve and wit * 20/20 Magazine *A highly immoral book * Daily Mail *Wickedly funny * Daily Express *As traders would say, this book is a buy * Financial Times *

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Book SynopsisThe remarkable run of self-proclaimed "democratic socialist" Bernie Sanders for president of the United States has prompted-for the first time in decades and to the shock of many-a national conversation about socialism. A New York Times poll in late November found that a majority of Democrats had a favorable view of socialism, and in New Hampshire in February, more than half of Democratic voters under 35 told the Boston Globe they call themselves socialists. It's unclear exactly what socialism means to this generation, but couple with the ascendancy of longtime leftwinger Jeremy Corbyn to the leadership of the Labour Party in the UK, it's clear there's a historic, generational shift underway.This book steps into this moment to offer a clear, accessible, informative, and irreverent guide to socialism for the uninitiated. Written by young writers from the dynamic magazine Jacobin, alongside several distinguished scholars, The ABCs of Socialism answers basic questions, including ones that many want to know but might be afraid to ask ("Doesn't socialism always end up in dictatorship?", "Will socialists take my Kenny Loggins records?"). Disarming and pitched to a general readership without sacrificing intellectual depth, this will be the best introduction an idea whose time seems to have come again.Table of ContentsBhaskar Sunkara is the founding editor and publisher of Jacobin magazine.

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Book Synopsis''BRILLIANTLY CLEAR AND CAPTIVATING PROSE'' STEPHEN FRYA WATERSTONES BOOK OF YEAR 2023An award-winning mathematician explores the maths behind the games we love and why we love to play them.Where should you move first in Connect 4?Which property is best in Monopoly?How can pi help you win Rock Paper Scissors?Crossing oceans, continents and millennia, award-winning mathematician Marcus du Sautoy explores how maths and games have always been deeply intertwined. As well as being integral to human psychology and culture throughout the ages, games provided the first opportunities for deep mathematical insight into the world. This grand adventure teaches us how to strategise, play better and win more often.The subject matter is fun (I mean, isn't it quite literally the definition of fun?) and du Sautoy's enthusiasm is infectious' THE SUNDAY TIMES''A delightful and addictive celebration of games. You'll keep wanting one more go'' DARA Ó BRIAIN, author of Is There Anybody Out There?Lively, creative and humane exactly as one would expect from Marcus du Sautoy' TIM HARFORD, author of How To Make The World Add UpYou do not need to be a seasoned player nor a skilled mathematician to relish this enchanting read. However, this book may just encourage you to become the one or the other' REINER KNIZIA, award-winning game designerTrade Review‘With the lightest of touches du Sautoy manages persuasively to show how games are both narratives that speak about us and structures whose ideas underlie everything in our known universe. And on top of it, the book serves as an absolutely indispensable compendium. Rainy weekends in Cornwall will now be welcomed’ Stephen Fry 'A delightful and addictive celebration of games. You’ll keeping wanting one more go' Dara Ó Briain ‘Whether your game is Go, Dungeons and Dragons, or Chocolate Chilli Roulette, you'll find this book adorable. It's lively, creative and humane – exactly as one would expect from Marcus du Sautoy’ Tim Harford, author of How To Make The World Add Up ‘The book encapsulates the very essence of human ingenuity and our intrinsic love for play and exploration. You do not need to be a seasoned player nor a skilled mathematician to relish this enchanting read. However, this book may just encourage you to become the one or the other’ Reiner Knizia, award-winning game designer

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Book SynopsisTrade Review“Matt Higgins knows from experience that when you have little to lose, there’s a lot to be gained by making bold bets. In this engaging, actionable book, he shows how it’s possible to take the reins and reinvent your career." — Adam Grant, #1 New York Times bestselling author of Think Again and host of the TED podcast WorkLife "Some people are afraid to take that first step and start a business. Matt gives you a path to challenge yourself and accomplish what you may have been too afraid to start." — Mark Cuban, entrepreneur and Shark Tank Shark "Instead of wondering what’s next, I’ve found it’s better, wherever you are in your career, to focus on what you can learn. Anybody who thinks through the questions Matt raises in Burn the Boats will form a clearer idea of where it is they want to go, and after reading his inspiring stories, they’ll be ready to blaze their own trail." — David Solomon, CEO of Goldman Sachs “Matt has a rare ability to articulate the fears that loom so large in our collective subconscious. Burn the Boats is a brilliant book that will renew your faith in your ability to achieve exactly what you set out to do, to stop settling and start striving for the life you always imagined. In these pages you'll discover the practical tools you need to conquer your self-doubt and navigate around people's opinions and expectations of you. This book will change you.” — Jay Shetty, #1 New York Times bestselling author Think Like a Monk “I hate Plan B. I always tell people that to achieve big dreams, you have to ignore the naysayers, but the naysayers are external. Once you have a Plan B, you’ve become your own naysayer. Big dreams require relentless focus, and any time we spend planning for failure sets us up for failure. When Matt told me I inspired him, I was really touched. But the best part is, inspiration is contagious, and now Matt can inspire you with this book. Enjoy it, when you finish reading, I can’t wait to hear about who you inspire.” — Arnold Schwarzenegger "I’ve always known that one of the best advantages is being disadvantaged. Life and business is all about how you can take those negatives and turn them into positives by thinking completely outside of the box. Matt and I both know that our scrappy roots growing up on the streets of Queens is what sparked a fire to achieve the impossible." — Daymond John, costar of Shark Tank and New York Times bestselling author "If you're looking for the push to take the leap, Burn the Boats is it. Matt is among the most remarkable entrepreneurs and businessmen I've ever met. The circumstance of Matt's journey forced him to take enormous risks and build without hesitation, which resulted in compounding success in his career from high school dropout to Harvard lecturer. At Shopify, we are building the tools for people to reach for independence and become entrepreneurs; Burn the Boats gives you the push to take the leap and start." — Harley Finkelstein, president of Shopify "While most people found it difficult to believe, as founder I saw no way that ARK would fail. Matt Higgins understood. Now, in his book Burn the Boats, Matt shares the story not only of his own intrepid and incredibly successful entrepreneurial adventures, but also those of many other dogged entrepreneurs who saw no option other than success. His book is replete with lessons learned along with encouragement and guidance for those ready to take their own leaps of faith!" — Cathie Wood, founder, CEO, and CIO of Ark Invest “So motivated and encouraged by Matt Higgins’s perspective—currently reading Burn the Boats and the pages are soaked with highlighter ink.” — Joanna Gaines, interior designer, television personality, author, and founder of Magnolia

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Book SynopsisAino Vonge Corry, independent consultant, has facilitated retrospectives for over a decade, written about facilitation for almost as long, and spoken widely and taught courses worldwide on the subject. She holds a PhD in computer science with a focus on design patterns in object-oriented design and OO language constructs: pattern-glasses that have been invaluable in formulating experience for others to learn from. She has taught for over two decades, in both university and industry settings.Table of ContentsForeword xvPreface xviiAcknowledgments xxxvAbout the Author xxxvii The Story Begins 1Part I: Structural Antipatterns 2Chapter 1: Wheel of Fortune 4 Context 6 General Context 7 Antipattern Solution 7 Consequences 7 Symptoms 8 Refactored Solution 9 Online Aspect 12 Personal Anecdote 13 Chapter 2: Prime Directive Ignorance 16 Context 18 General Context 20 Antipattern Solution 21 Consequences 21 Symptoms 22 Refactored Solution 22 Online Aspect 23 Personal Anecdote 23 Chapter 3: In the Soup 26 Context 28 General Context 28 Antipattern Solution 29 Consequences 29 Symptoms 30 Refactored Solution 30 Online Aspect 34 Personal Anecdote 34 Chapter 4: Overtime 36Context 38 General Context 39 Antipattern Solution 39 Consequences 39 Symptoms 40 Refactored Solution 40 Online Aspect 43 Personal Anecdote 43 Chapter 5: Small Talk 46 Context 48 General Context 48 Antipattern Solution 48 Consequences 49 Symptoms 49 Refactored Solution 49 Online Aspect 51 Personal Anecdote 51 Chapter 6: Unfruitful Democracy 54 Context 56 General Context 56 Antipattern Solution 57 Consequences 57 Symptoms 58 Refactored Solution 58 Online Aspect 60 Personal Anecdote 61 Chapter 7: Nothing to Talk About 62 Context 64 General Context 64 Antipattern Solution 64 Consequences 65 Symptoms 65 Refactored Solution 65 Online Aspect 70 Personal Anecdote 71 Chapter 8: Political Vote 74 Context 76 General Context 77 Antipattern Solution 77 Consequences 78 Symptoms 78 Refactored Solution 78 Online Aspect 79 Personal Anecdote 79 Part II: Planning Antipatterns 80Chapter 9: Team, Really? 82 Context 84 General Context 85 Antipattern Solution 85 Consequences 85 Symptoms 86 Refactored Solution 86 Online Aspect 87 Personal Anecdote 88 Chapter 10: Do It Yourself 90 Context 92 General Context 92 Antipattern Solution 92 Consequences 93 Symptoms 93 Refactored Solution 94 Online Aspect 96 Personal Anecdote 96 Chapter 11: Death by Postponement 98 Context 100 General Context 100 Antipattern Solution 100 Consequences 101 Symptoms 101 Refactored Solution 102 Online Aspect 103 Personal Anecdote 104 Chapter 12: Get It Over With 106 Context 108 General Context 108 Antipattern Solution 108 Consequences 109 Symptoms 109 Refactored Solution 109 Online Aspect 110 Personal Anecdote 111 Chapter 13: Disregard for Preparation 114 Context 116 General Context 117 Antipattern Solution 118 Consequences 118 Symptoms 119 Refactored Solution 120 Online Aspect 122 Personal Anecdote 123 Chapter 14: Suffocating 124 Context 126 General Context 127 Antipattern Solution 127 Consequences 127 Symptoms 127 Refactored Solution 128 Online Aspect 128 Personal Anecdote 129 Chapter 15: Curious Manager 130 Context 132 General Context 132 Antipattern Solution 133 Consequences 133 Symptoms 133 Refactored Solution 133 Online Aspect 134 Personal Anecdote 134 Chapter 16: Peek-A-Boo 136 Context 138 General Context 138 Antipattern Solution 139 Consequences 139 Symptoms 140 Refactored Solution 140 Online Aspect 143 Personal Anecdote 143 Part III: People Antipatterns 146Chapter 17: Disillusioned Facilitator 148 Context 150 General Context 151 Antipattern Solution 151 Consequences 151 Symptoms 151 Refactored Solution 152 Online Aspect 153 Personal Anecdote 153 Chapter 18: Loudmouth 156 Context 158 General Context 158 Antipattern Solution 158 Consequences 159 Symptoms 160 Refactored Solution 160 Online Aspect 162 Personal Anecdote 162 Chapter 19: Silent One 166 Context 168 General Context 168 Antipattern Solution 169 Consequences 169 Symptoms 169 Refactored Solution 170 Online Aspect 171 Personal Anecdote 172 Chapter 20: Negative One 174 Context 176 General Context 176 Antipattern Solution 176 Consequences 177 Symptoms 177 Refactored Solution 177 Online Aspect 179 Personal Anecdote 180 Chapter 21: Negative Team 182 Context 184 General Context 184 Antipattern Solution 184 Consequences 185 Symptoms 185 Refactored Solution 186 Online Aspect 187 Personal Anecdote 187 Chapter 22: Lack of Trust 188 Context 190 General Context 191 Antipattern Solution 191 Consequences 191 Symptoms 191 Refactored Solution 192 Online Aspect 197 Personal Anecdote 197 Chapter 23: Different Cultures 202 Context 204 General Context 204 Antipattern Solution 204 Consequences 205 Symptoms 205 Refactored Solution 205 Online Aspect 207 Personal Anecdote 207 Chapter 24: Dead Silence 210 Context 212 General Context 212 Antipattern Solution 213 Consequences 213 Symptoms 214 Refactored Solution 214 Online Aspect 216 Personal Anecdote 216 Conclusion 219 References 221Index 225

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Book SynopsisRalph Birchmeier argues that an optimal portfolio-building strategy means patiently waiting for the few investments worthy of capital allocation. He outlines the principles required for success then examines specific reasons to pass on investments, detailing behavioral biases that disrupt optimal decision making.Trade ReviewRalph Birchmeier covers extensive territory, expanding on Graham’s fundamental principles as well as Warren Buffett and Charlie Munger's ideals to offer new perspectives on investing wisely. Readers will greatly benefit from his insights on accounting and valuation. -- Jean-Marie Eveillard, trustee emeritus, First Eagle FundsWhile most investment books tell you what to look for in an investment, more importantly, Reasons to Pass tells you what to avoid. Ralph Birchmeier has distilled his decades of hands-on experience into a book that offers a comprehensive and entertaining introduction to core investing principles for the aspiring investor. -- Paul D. Sonkin, coauthor of The Enduring Value of Roger Murray and Pitch the Perfect InvestmentRalph Birchmeier presents a unique and comprehensive survey of investment opportunities in global equity capital markets, elegantly demonstrating why good investments are hard to find. -- Joel Lusman, Lusman Capital ManagementTable of ContentsPart I. Principles and MoreIntroduction1. Reasons to Pass: Investment Principles2. Main Street Versus Wall Street: A Rigged Market?3. Fundamental Analysis in the Digital Age4. Indexing: A Viable OptionPart II. Reasons to PassIntroduction5. Minimum Market Capitalization6. Financial Leverage: The Ultimate Killer7. High–Fixed Cost Businesses8. Accounting9. Regulatory Uncertainty10. Corporate Governance11. Asset Liability Mismatch12. Deep Cyclical Companies Near Cycle Peak13. High-Cost Commodity Businesses14. Cash Flow and Earnings Disconnect15. Structurally Declining Businesses16. Obsolescence Risk17. Valuation: A Critical Protector of Capital and Returns18. Lollapalooza EffectPart III. Reasons to BuyIntroduction19. Screening20. Growth Stocks21. Core Characteristics of Successful Investors22. Viable, and Buyable, Investment Opportunities23. Selling DisciplineConclusionIndex

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Book SynopsisTrade Review"A well-written, scholarly dissection that should be required reading for all graduate courses (and perhaps some advanced undergraduate) in macroeconomics or monetary economics." * Choice *"With lucid precision, Mehrling traces the history of how Fed policy makers became biased toward 'excessive elasticity'. . . . Mehrling saves the best for the end, where he describes the Fed's battle to save the system with an alphabet soup of lending programs."---James Pressley, Bloomberg News"An important book about the new Fed."---Tyler Cowen, Marginal Revolution"In The New Lombard Street, Perry Mehrling . . . provides a lucid account of how the system worked when it was working—and of the growing role assumed by the Fed in an era of global economic volatility and 'credit-fueled bubbles.'"---Glenn C. Altschuler, Tulsa World"[A] fantastic book."---Rortybomb, Mike Konczal blog"Important. . . . Mehrling's new book tries to do just what Bagehot did: to give an account both of how and why the Fed acted when it reinvented the rules in the middle of a financial crisis, and of what the implications for future monetary policy will be."---Harold James, Central Banking Journal"This is an excellent and accessible analysis for anyone wishing to understand the origins of the financial crisis and how the Fed came to respond as it did."---Larry Hatheway, Business Economist"The book can be read as an important contribution in the ongoing debate on the future of central banks. In terms of monetary policy thinking, this book is another contribution to the increasing awareness that central banks, perhaps lured by seeming success of inflation targeting, in the years before 2008 did not manage to strike the right balance between monetary and financial stability."---Lars Fredrik Øksendal, Enterprise & Society

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Book SynopsisA collection of writings from one of the anti-Apartheid struggle's major revolutionary public intellectualsTrade Review'A treasure chest for all opponents of racism and capitalism, introducing key writings of the late South African revolutionary Neville Alexander on the workings of racial capitalism in his country. More than that, it shows us Alexander the grassroots organizer for liberation. Throughout these pages, we encounter a great radical thinker profoundly committed to changing the world. This is a vital resource in the struggle for global justice.' -- David McNally, Director of the Project on Race and Capitalism, University of Houston'Amidst all this talk of racial capitalism and abolition, there is one thinker we should all be reading: Neville Alexander. He is a revolutionary intellectual for our times and for our planet. For anyone committed to abolishing, not just studying, racial capitalism, this is the book to read.' -- Robin D. G. Kelley, author of 'Freedom Dreams: The Black Radical Imagination''Understanding and dismantling racial capitalism is one of the foremost challenges of our time. Not too often seen by international audiences is the brilliant work of South African revolutionary, anti-Apartheid activist, intellectual, and 10-year political prisoner, Neville Alexander. This amazing collection remedies that.' -- Steven J. Klees, Professor of International Education Policy, University of Maryland'Both profound and provocative. Grounded in history, engaged with revolutionary theory, and informed by a lifetime of practice, Neville’s intellectual acuity and passion for freedom shine through in every page. Read, learn, and join the growing global struggle 'Against Racial Capitalism', and for the just future that Alexander dreamed of and fought for.' -- Barbara Ransby, historian, writer, longtime activist, author of 'Making All Black Lives Matter''Much of the contemporary debate around racial capitalism owes an acknowledged debt to Neville Alexander’s path-breaking interventions in the midst of the South African anti-apartheid struggle. This new collection of writings, superbly curated by Salim Vally and Enver Motala, reveals the extraordinary relevance of Neville’s thought for activists and scholars today.' -- Adam Hanieh, Professor of Political Economy and Global Development, University of Exeter'By reading writings like these, we Palestinians can learn from the South African condition in recognizing apartheid as both a system of institutionalized racial discrimination and a system of racial capitalism. A must-read for all those believing in a future vision of a secular-democratic state in Palestine that is based on a critical understanding of the limits and pitfalls of transformation in post-apartheid South Africa.' -- Professor Haidar Eid, al-Aqsa University, Gaza, Occupied Palestine'Thoughtfully honours the writing and legacy of Neville Alexander and, in doing so, powerfully offers us coordinates for making a just society. In compiling this book, Salim Vally and Enver Motala inspire us all to continue Alexander’s profound work for racial justice.' -- Arathi Sriprakash, author of 'Learning Whiteness: education and the settler colonial state''Thanks to the tireless work of his comrades Salim Vally and Enver Motala, Neville Alexander’s moment is upon us. These careful selections from a half century of speeches and writings, many available here for the first time, are a crucial resource for activists mobilizing against racial capitalism today. This volume is destined to become a classic.' -- Professor Zachary Levenson, University of Texas at Austin, author of 'Delivery as Dispossession: Land Occupation and Eviction in the Postapartheid City''In our times of rising global fascism and predatory capitalism, Neville Alexander’s writings provide us with insightful ways of thinking through and beyond the present, and a must read for all of us who share his commitment to 'non-dogmatic Marxism and internationalism'.' -- Mario Novelli, Professor in the Political Economy of Education, University of Sussex'Powerfully reignites the contributions of Neville Alexander and left organisations including the Black consciousness movement in South Africa, at precisely the moment when we most need its inspiration. Scholars, students, and activists committed to liberation struggles have much to learn from the writings of one of the most significant revolutionary intellectuals of the last century.' -- Antonia Darder, Professor Emerita, Loyola Marymount University'This must-read, expertly curated by Salim Vally and Enver Motala, offers a genealogy of Alexander’s political thought, insightful scholarship, and engaged praxis vis-à-vis issues of racial capitalism, multilingualism, education and more.Timely and relevant for scholars and activists concerned with advancing justice around the globe.' -- Monisha Bajaj, Professor of International & Multicultural Education, University of San Francisco'Neville Alexander’s imaginative work remains profoundly relevant, both to comprehend the pervasive crises of our times and to produce new revolutionary politics and praxes.' -- Professor Noor Nieftagodien, Head of History Workshop, Wits University'Situates Neville Alexander where he belongs, among the great revolutionaries of the 20th century. In Alexander’s political teachings, we discover strategies for the necessary work of challenging the oppressive racial capitalist order and, through his life of struggle, we inherit a model of radical intellectualism, which refuses the false boundaries between theory and praxis. An essential guide for all who are struggling toward liberated futures.' -- Krystal Strong, assistant professor of Black Studies, Rutgers University'Whether the topic is education, race, housing, employment, displacement, violence, Neville Alexander’s beautiful writing patiently connects theory and method with purpose. Conceived in the volatile conjunctures of South Africa’s long struggle for self-determination, 'Against Racial Capitalism' is absolutely necessary for all who struggle to understand and change 21st century conditions.' -- Ruth Wilson Gilmore, author 'Abolition Geography: Essays Towards Liberation''The lucid writings of Neville Alexander - socialist, pan Africanist, internationalist, revolutionary – are charted against the history of the unfolding liberation struggle in South Africa. Essential reading.' -- Pam Christie, Emeritus Professor at the University of Cape Town'Neville Alexander blazed a path among scholars and activists in understanding the entanglements of class and race. This rich collection traces his incisive commentaries as he insisted that theory as well as political action be rooted in the struggle to transform society in apartheid and post-apartheid South Africa.' -- Joel Samoff, Center for African Studies, Stanford University'Essential' -- 'Boston Review'Table of ContentsPreface by Karen Press Timeline: Key events in the life and times of Neville Alexander Introduction by Salim Vally and Enver Motala Part I: Prison Writings: ‘The University of Robben Island’ 1964-1974 Part II: Reaping the Whirlwind: the 1980s Part III: The Transition to Democracy: 1990 to 1994 Part IV: Post-1994 essays, talks and articles Bibliography

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Book SynopsisGain a lifetime of experience from the inventor of test marketing and coupon sampling -- Claude C. Hopkins. Here, you'll get two landmark works in one, and discover his fixed principles and basic fundamentals that still prevail today.

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Book SynopsisOr, how to beat the Street with a broomstick...Since that first tulip was traded on that madly speculative exchange in 17th-century Amsterdam, some very special individuals - plungers not in the Merrill Lynch tradition - have been picking winners and harvesting huge profits with uncanny success. How?They play the market in ways that seem weird to the rest of us - but they win! There are those who feel vibrations, play by the stars, read tarot cards, rely on extrasensory perception, dream dreams, play by numbers. Crazy? Maybe. Yet every single one of them is rich. You''ll meet them all in this peek at the occult side of the street.If you want to play the game their way, there''s an appendix to teach you their specialised techniques; with astrology, tarot cards, witchcraft, magic squares, and other uncanny devices.Each method is carefully explained by the author, a veteran writer of unimpeachable reputation who researched this book with the objectivity of a scientist and who vouches for the accuracy of the results described in it.Table of Contents1. The Man Who Was Never Wrong 2. Winners and Losers and Why 3. The Ancients 4. The Feelers 5. By the Stars 6. Useful Ghosts 7. By the Dark of the Moon 8. By the Cards 9. The Dreamers 10. Devices 11. By the Numbers 12. A Synthesis of Predictions 13. Where Now, Sweet Aspirant? Appendix: Lessons on Winning Weirdly Occult Market Lesson I: Winning Weirdly with Feeler Techniques Occult Market Lesson II: Winning Weirdly with Astrology Occult Market Lesson III: Winning Weirdly with Tarot Cards Occult Market Lesson IV: Winning Weirdly with Witchcraft

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Book SynopsisPresents a rebuttal of the cultural reductionism of Max Weber and others who have tried to explain the politics and society of the Middle East by reference to some unchanging entity called 'Islam,' typically characterised as instinctively hostile to capitalism. This work looks at the facts, analysing economic texts with his customary common sense.Trade Review'In Islam and Capitalism, we can see a powerful mind wrestling with some of the largest questions which concern, not just the peoples of the Middle East but also those who wish to understand their economies, their societies and their ideologies, and to chart their progress.' Roger Owen

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Book SynopsisWith twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.Trade Review'The electricity sector - the backbone of the modern economy - is under tremendous pressure right now. Because of climate change, it is being asked to both grow at a much faster pace than it has historically and, at the same time, fundamentally transform its operations. There is no better time for a comprehensive volume with an all-star list of contributors - hats off to Glachant, Joskow and Pollitt.' -- Catherine Wolfram, University of California, Berkeley, USTable of ContentsContents: 1 Introduction to the Handbook on Electricity Markets 1 Jean-Michel Glachant, Paul L. Joskow and Michael G. Pollitt PART I TAKING STOCK: THE LEGACY 2 Strengths and weaknesses of traditional arrangements for electricity supply 13 Richard Schmalensee 3 Optimal wholesale pricing and investment in generation: the basics 36 Paul L. Joskow and Thomas-Olivier L.autier 4 Wholesale electricity market design 73 Frank A. Wolak 5 The evolution of competitive retail electricity markets 111 Stephen Littlechild 6 Strengths and weaknesses of the British market model 156 David Newbery 7 Strengths and weaknesses of the PJM market model 182 William W. Hogan 8 ERCOT: success (so far) and lessons learned 205 Ross Baldick, Shmuel S. Oren, Eric S. Schubert and Kenneth Anderson 9 Lessons from Australia’s National Electricity Market 1998–2018: strengths and weaknesses of the reform experience 242 Paul Simshauser 10 Strengths and weaknesses of the Nordic market model 287 Chlo. Le Coq and Sebastian Schwenen 11 The evolution of the European model for electricity markets 308 Fabien Roques PART II ADAPTING TO NEW TECHNOLOGIES AND NEW POLICY PRIORITIES 12 New technologies on the supply side 332 Nils May and Karsten Neuhoff 13 New technologies on the demand side 353 Fereidoon Sioshansi 14 Tools and policies to promote decarbonization of the electricity sector 383 Kathryne Cleary, Carolyn Fischer and Karen Palmer 15 Shifting supply as well as demand: the new economics of electricity with high renewables 408 Richard Green 16 The future design of the electricity market 428 Michael G. Pollitt 17 New business models in the electricity sector 443 Jean-Michel Glachant 18 Electrifying transport: issues and opportunities 463 Bentley C. Clinton, Christopher R. Knittel and Konstantinos Metaxoglou 19 Electrification of residential and commercial heating 506 Mathilde Fajardy and David M. Reiner 20 Harnessing the power of integration to achieve universal electricity access: the case for the Integrated Distribution Framework 540 Ignacio J. P.rez-Arriaga, Divyam Nagpal, Gr.goire Jacquot and Robert Stoner 21 Reforming China’s electricity industry: national aspiration, bureaucratic empires, local interests 568 Xu Yi-chong 22 The evolution of electricity sectors in Africa: ongoing obstacles and emerging opportunities to reach universal targets 595 Vivien Foster, Anton Eberhard and Gabrielle Dyson Index 629

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Book SynopsisA compelling profile of an emerging Chinese competitor Chinese firms are reinventing their business models, their corporate cultures, and themselves, becoming global competitors who increasingly offer knowledge rather than cheap labour in their quest to join the ranks of the world''s best companies. This book offers a compelling profile of the most ambitious of these emerging Chinese competitors, the Haier Corporation (the world''s largest manufacturer of home appliances), and shares insights on how one organization has repeatedly reinvented its business model and corporate culture in an effort to sustain its success. Reinventing Giants provides an exclusive look within the Haier Corporation and shows how managerial accountability and responsibility have been repositioned at every level of the organization, with the core value of market-centricity, while aligning strategy on each level of management. It includes actual work reports that show this process in detTable of ContentsForeword ixAlexander Osterwalder 1. Moving a Company with the Times: What Makes Haier Unique? 1 2. The Battle field: The Home Appliance Industry in the West and China 17 3. The Story of Haier and the Evolution of Its Corporate Culture 43 4. Liberating Talent: Tapping the Entrepreneurial Spirit 81 5. Building a Corporate Culture for the Twenty-First Century 109 6. Haier as a High Performer 147 7. A True Hybrid: How to Fashion a Strategically Agile Organization 175 8. A True Disrupter: How Embracing Change Creates Value 211 Postscript: While We Were Writing . . . 227 Appendix: How ZZJYTs Work 233 Notes 249 Acknowledgments 261 The Authors 267 Index 269

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Book SynopsisSecure venture capital? Easy. Getting a business up and running or pushing a brilliant product to the marketplace requires capital. For many entrepreneurs, a lack of start-up capital can be the single biggest roadblock to their dreams of success and fortune.Table of ContentsIntroduction 1 Part I: Getting Started with Venture Capital 5 Chapter 1: Nothing Ventured, Nothing Gained: Venture Capital Basics 7 Chapter 2: The Venture Capitalist Mindset 17 Chapter 3: Is Working with a VC Right for You? 33 Chapter 4: Alternatives to Venture Capital Funding 45 Chapter 5: Connecting with Investors Online and Face to Face 65 Part II: Becoming Attractive to Venture Capitalists 85 Chapter 6: Positioning Your Company for Funding 87 Chapter 7: Cultivating Relationships 111 Chapter 8: Providing an Exit Strategy 131 Part III: Getting Your Ducks in a Row: Deal Design and Due Diligence 149 Chapter 9: Structuring Pre-VC Deals 151 Chapter 10: Leading the Risk Conversation 173 Chapter 11: Telling Your Valuation Story 195 Chapter 12: Negotiating Your Terms 211 Part IV: Pitching to Investors 235 Chapter 13: Due Diligence: Preparation and Fundamentals 237 Chapter 14: Planning Your Pitch 261 Chapter 15: Visualizing the Deal: Creating Your Pitch Deck 275 Chapter 16: Show Time! Making Your Presentation 299 Chapter 17: If at First You Don’t Succeed — and Even If You Do — Try, Try Again 309 Part V: The Part of Tens 321 Chapter 18: Ten Ways to Lose a Deal 323 Chapter 19: Ten Places and People That Can Lead You to a VC 327 Index 331

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Book SynopsisThe maths, the formulas, and the problems associated with corporate finance can be daunting to the uninitiated, but help is at hand.Table of ContentsIntroduction 1 Part I: Getting Started with Corporate Finance 5 Chapter 1: Introducing Corporate Finance 7 Chapter 2: Navigating the World of Corporate Finance 15 Chapter 3: Raising Money for Business Purposes 35 Part II: Reading Financial Statements as a Second Language 45 Chapter 4: Seeing What You’re Worth with the Balance Sheet 47 Chapter 5: Getting Paid with the Profit and Loss Account 59 Chapter 6: Easy Come, Easy Go: Understanding the Cash Flow Statement 69 Chapter 7: Making Financial Statements Useful with Ratio Analysis 77 Chapter 8: Measuring Financial Wellbeing with Special-Use Ratios 97 Part III: Placing Valuations on the Price Tags of Business 115 Chapter 9: Determining Present and Future Values: Time Is Money 117 Chapter 10: Looking to the Future with Capital Budgeting 125 Chapter 11: Bringing on Your Best Bond Bets 143 Chapter 12: Being Savvy When Shopping for Shares 159 Chapter 13: Measuring Valuations of the May-Be: Derivatives 177 Part IV: Walking in a Risk Management Wonderland 189 Chapter 14: Managing the Risky Business of Corporate Finances 191 Chapter 15: Through the Looking Glass of Modern Portfolio Theory 203 Chapter 16: Entering the Science Lab: Financial Engineering 223 Chapter 17: Assessing Capital Structure 239 Part V: Understanding Financial Management 249 Chapter 18: Assessing Financial Performance 251 Chapter 19: Forecasting Finances Is Easier than Predicting the Weather 273 Chapter 20: Spelling out the ABC of M&A 289 Part VI: The Part of Tens 309 Chapter 21: Ten Things You Need to Know about International Finance 311 Chapter 22: Ten Things You Need to Understand about Behavioural Finance 325 Index 337

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Book SynopsisDevelop your own trading system with practical guidance and expert advice In Building Algorithmic Trading Systems: A Trader's Journey From Data Mining to Monte Carlo Simulation to Live Training, award-winning trader Kevin Davey shares his secrets for developing trading systems that generate triple-digit returns.Table of ContentsAcknowledgments ix About the Author x Introduction 1 Part I A Trader’s Journey 7 Chapter 1 The Birth of a Trader 9 Chapter 2 Enough Is Enough 15 Chapter 3 World Cup Championship of Futures Trading ® Triumph 23 Chapter 4 Making the Leap—Transitioning to Full Time 33 Part II Your Trading System 41 Chapter 5 Testing and Evaluating a Trading System 43 Chapter 6 Preliminary Analysis 53 Chapter 7 Detailed Analysis 61 Chapter 8 Designing and Developing Systems 71 Part III Developing a Strategy 77 Chapter 9 Strategy Development—Goals and Objectives 79 Chapter 10 Trading Idea 83 Chapter 11 Let’s Talk about Data 93 Chapter 12 Limited Testing 103 Chapter 13 In-Depth Testing/Walk-Forward Analysis 115 Chapter 14 Monte Carlo Analysis and Incubation 129 Chapter 15 Diversification 133 Chapter 16 Position Sizing and Money Management 139 Chapter 17 Documenting the Process 147 Part IV Creating a System 153 Chapter 18 Goals, Initial and Walk-Forward Testing 155 Chapter 19 Monte Carlo Testing and Incubation 163 Part V Considerations Before Going Live 175 Chapter 20 Account and Position Sizing 177 Chapter 21 Trading Psychology 187 Chapter 22 Other Considerations before Going Live 195 Part VI Monitoring a Live Strategy 203 Chapter 23 The Ins and Outs of Monitoring a Live Strategy 205 Chapter 24 Real Time 219 Part VII Cautionary Tales 233 Chapter 25 Delusions of Grandeur 235 Conclusion 243 Appendix A Monkey Trading Example, TradeStation Easy Language Code 247 Appendix B Euro Night Strategy, TradeStation Easy Language Format 255 Appendix C Euro Day Strategy, TradeStation Easy Language Format 259 About the Companion Web Site 263 Index 265

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Book SynopsisRisk runs through the fabric of any project. It is so intimately bound up in forecasting and decision making that it cannot be isolated or handled separately from other project management activities. Success can only be achieved if risk management is integrated closely with project management. Over the past decade, developments in risk management methods and standards have addressed the need to manage risk in a project in an integrated manner. This is a more natural way of working than past practices have been. It has beneficial effects on the practice of risk management and the way it is implemented in projects. This new edition of Project Risk Management Guidelineshas beenfully updated to include the new international standards that embody this principle, ISO 31000 Risk management and IEC 62198 Managing risk in projects. The book explains the standards and how they can be applied. It provides a clear introduction to basic project risk management,Table of ContentsAbout the Authors vii Foreword to the Second Edition xi Preface xiii Acknowledgements xv Introduction to Project Risk Management xvii Part I Project Risk Management: Principles and Framework 1 Chapter 1 Principles of Effective Project Risk Management 3 Chapter 2 Project Phases and Approval Decisions 9 Chapter 3 Framework for Managing Risk in Projects 23 Part II The Project Risk Management Process 33 Chapter 4 The Approach to Managing Risk in Projects 35 Chapter 5 Communication and Consultation 41 Chapter 6 Establish the Context 49 Chapter 7 Risk Identification 69 Chapter 8 Qualitative Risk Analysis and Risk Evaluation 77 Chapter 9 Semi-Quantitative Risk Assessment for Systems and Sub-Systems 95 Chapter 10 Risk Treatment 105 Chapter 11 Monitoring and Review 117 Chapter 12 Recording and Reporting 123 Chapter 13 Managing Opportunities 129 Chapter 14 Simplifying the Process 141 Part III Quantitative Risk Analysis for Projects 151 Chapter 15 Introduction to Quantification for Project Risks 153 Chapter 16 Cost Risk Assessment 173 Chapter 17 Schedule Risk Analysis 197 Chapter 18 Investment Evaluation for Large Projects 219 Chapter 19 Risk Analysis and Economic Appraisal 241 Part IV Extending the Process 251 Chapter 20 Contracts and Risk Allocation 253 Chapter 21 Case Study: Tender Evaluation 265 Chapter 22 Market Testing and Outsourcing 271 Chapter 23 Public–Private Partnerships and Private Financing 283 Chapter 24 Technical Tools and Techniques 303 Chapter 25 Managing Environment-Related Risks 323 Chapter 26 Climate Change 345 Part V Additional Information and Supporting Material 351 Chapter 27 Other Approaches to Project Risk Management 353 Chapter 28 Risk Management Process Checklist 361 Chapter 29 Worksheets and Evaluation Tables 365 Chapter 30 Examples of Risks and Treatments 381 Glossary 393 References 397 Index 401

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Book SynopsisCreate and run a human resource analytics project with confidence For any human resource professional that wants to harness the power of analytics, this essential resource answers the questions: Where do I start? and What tools are available? Predictive Analytics for Human Resources is designed to answer these and other vital questions.Table of ContentsForeword xiii Preface xv Chapter 1 Where’s the Value? 1 Some Basics 1 What Is Analytics? 2 Two Values 4 Analytic Capabilities 4 Analytic Value Chain 6 Analytic Model 8 Typical Application 14 Training Value Measurement Model 15 Inside the Data 16 Notes 19 Chapter 2 Getting Started 21 Go-to-Market Models 22 Assessment 23 Developmental Experiences 23 Financial Connections 24 Sample Case 26 Focusing on the Purpose 26 Present-Day Needs 28 How Human Capital Analytics Is Being Used 29 Turning Data into Information 30 Three Value Paths 30 Solving a Problem 31 Essential Step 31 Prime Question 32 Case in Point 32 Preparing for an Analytics Unit 33 Ten Steps for an Analytics Unit 35 Structure and Team Building 36 Developing an Analytics Culture 37 Notes 37 Chapter 3 What You Will Need 39 Dealing with the C Level 40 Breaking Through 41 Research 41 Recruiting a Sponsor or Champion 42 Making the Sale 43 Selling Example 44 Working with Consultants and Coaches 46 Designing and Delivering Reports 48 Making an Impact 50 Process Management 50 Preparation 52 Notes 54 Chapter 4 Data Issues 55 Efficiency Measures 56 Effectiveness Measures 61 Business Outcome Measures 67 Note 69 Chapter 5 Predictive Statistics Examples 71 Begin with the End in Mind 71 Go Back to the Beginning 74 Who Owns Data, and Will They Share It? 75 What Will You Do with the Data? 77 What Form Is the Data In? 79 Is the Data Quality Sufficient? 80 Note 82 Chapter 6 Predictive Analytics in Action 83 First Step: Determine the Key Performance Indicators 83 Second Step: Analyze and Report the Data 89 Relationships, Optimization, and Predictive Analytics 96 Predictive Analytics 97 Interpreting the Results 102 Predicting the Future 111 Structural Equation Modeling 113 Notes 114 Chapter 7 Predicting the Future of Human Capital Analytics 115 What Does the Future Look Like? 116 Bringing It All Together 126 Predictive Analytics for HR in Action 126 Notes 128 Epilogue 129 Appendix: Example Measures of Efficiency, Effectiveness, and Outcomes 133 About the Authors 135 Index 137

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Book SynopsisRisk analysis has become critical to modern financial planning Financial Forecasting, Analysis and Modelling provides a complete framework of long-term financial forecasts in a practical and accessible way, helping finance professionals include uncertainty in their planning and budgeting process. With thorough coverage of financial statement simulation models and clear, concise implementation instruction, this book guides readers step-by-step through the entire projection plan development process. Readers learn the tools, techniques, and special considerations that increase accuracy and smooth the workflow, and develop a more robust analysis process that improves financial strategy. The companion website provides a complete operational model that can be customised to develop financial projections or a range of other key financial measures, giving readers an immediately-applicable tool to facilitate effective decision-making. In the aftermath of the recent finanTable of ContentsPreface xi Acknowledgments xiii About the Author xv Part one Developing Corporate Finance Models 1 Chapter 1 Introduction 3 1.1 What is Financial Modelling? 3 1.2 Defining the Inputs and the Outputs of a Simple Financial Model 6 1.3 The Financial Modelling Process of More Complex Models 9 1.3.1 Step 1: Defining the Problem the Model Will Solve: The Fundamental Business Question 9 1.3.2 Step 2: Specification of the Model 10 1.3.3 Step 3: Designing and Building the Model 11 1.3.4 Step 4: Checking the Model’s Output 13 1.4 Excel as a Tool of Modelling: Capabilities and Limitations 13 Chapter 2 A Short Primer in the Accounting of Financial Statements 17 2.1 The Accounting Equation 17 2.2 The Balance Sheet 20 2.3 The Income Statement 23 2.3.1 Cash Accounting Versus Accrual Accounting 26 2.4 The Cash Flow Statement 26 2.4.1 Operating Activities 27 2.4.2 Investing Activities 27 2.4.3 Financing Activities 27 2.4.4 Income Flows and Cash Flows 27 2.4.5 Preparing the Statement of Cash Flows 28 2.5 The Articulation of Income Statement, Balance Sheet, and Cash Flow Statements 29 2.6 Financial Statement Analysis: Ratio Analysis 32 2.6.1 Profitability Ratios 35 2.6.2 Liquidity Ratios 37 2.6.3 Solvency Ratios 38 2.6.4 Other Ratios 39 2.6.5 The Limitations of Financial Ratios 40 Chapter 3 Financial Statement Modelling 43 3.1 Introduction – How Financial Models Work 43 3.2 Collecting and Analyzing Historical Data 47 3.3 Selecting the Key Forecast Drivers 53 3.4 Modelling the Income Statement 59 3.5 Modelling the Balance Sheet 63 3.6 Modelling Interest and Circular References 66 3.7 Modelling the Cash Flow Statement 69 Chapter 4 Forecasting Performance 75 4.1 Introduction: Designing a Dashboard-like Control Panel 75 4.2 Basic Statistical Methods Used for Forecasting 88 4.3 Forecasting Sales 93 4.3.1 Bottom-up Versus Top-down Forecasting 97 4.3.2 Forecasting Sales of Existing Products or Services 97 4.4 Forecasting Costs 99 4.5 Forecasting CAPEX and Depreciation 103 4.5.1 Forecasting CAPEX and Depreciation for Existing Companies 108 4.6 Forecasting Working Capital and Funding Needs 110 4.6.1 Forecasting Funding Needs 113 Chapter 5 Business Valuation 115 5.1 Valuation Approaches 115 5.2 Steps for Applying the DCF Method 120 5.3 Rewriting Financial Statements – Calculation of Free Cash Flows 121 5.4 Calculating the Weighted Average Cost of Capital 124 5.4.1 Calculating the Weighted Average Cost of Capital of SteelCo 128 5.5 Estimating the Terminal Value 131 5.6 DCF Summary – Enterprise Value Adjustments 132 Part two Planning for Uncertainty 137 Chapter 6 Using Sensitivity Analysis 139 6.1 Introduction 139 6.2 One-Dimensional and 2-Dimensional Sensitivity Analysis 140 6.3 Choosing the Variables to Change 145 6.4 Modelling Example 149 6.4.1 Selecting the Variables to Change 149 6.4.2 Assigning a Range of Values 149 6.4.3 Constructing the 2-dimensional Sensitivity Analysis Table 151 6.4.4 Interpreting the Results 153 Chapter 7 Using Scenarios 157 7.1 Introduction 157 7.2 Using Scenario Analysis with Excel’s Scenario Manager 158 7.2.1 Adding 2 More Scenarios 159 7.3 Alternative Ways to Create Scenarios in Excel 163 7.4 Applying Scenarios to SteelCo’s Case 167 7.4.1 Deciding on the Number of Scenarios and Input Variables under each Scenario 167 7.4.2 Deciding on the Output Variables 168 7.4.3 Assigning Values to the Input Variables under Each Scenario 170 7.4.4 Building the Scenarios in Excel’s Scenario Manager 173 7.4.5 Interpreting the Results 176 Chapter 8 Using Monte Carlo Simulation 179 8.1 Introduction 179 8.2 Building Uncertainty Directly Into the Modelling Process 180 8.3 Probabilities, Cumulative Probabilities, and Frequency Distribution Charts 182 8.4 Modelling Example 187 8.4.1 Identifying the Key Risk Variables 188 8.4.2 Choosing a Probability Distribution for Each Input Variable 188 8.4.3 Performing the Simulation Runs 190 8.4.3.1 The Simple VBA CODE 192 8.4.4 Creating a Histogram (Frequency Distribution Chart) in Excel 195 8.4.5 Interpreting the Results 200 8.4.6 Some Issues of Concern 201 Appendix 203 1. Walking through the Excel Model Provided with the Book (SteelCo SA 4yr Business Plan) 203 Introduction 203 Structure of the Model 204 2. Other Excel Files Provided with the Book 205 Index 207

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Book SynopsisAccounting and finance are key aspects of business. All those who work for, or deal with, businesses need to understand these subjects. Essentially, understanding accounting and finance is a prerequisite for understanding business.Table of ContentsAbout the Author xv About the Book xvii Acknowledgements xxiii 1 Introduction to Accounting and Finance 1 Introduction 2 Nature of Accounting and Finance 2 Importance of Accounting and Finance 4 Financial Accounting and Management Accounting 5 Users of Accounts 7 Accounting Context 9 Types of Accountancy 13 Types of Accountant 18 Limitations of Accounting 21 Conclusion 21 Discussion Questions 23 Section A: Financial Accounting: The Techniques 25 2 The Accounting Background 27 Introduction 28 Financial Accounting 28 Language of Accounting 30 The Process of Accounting 38 The Accounting Equation 38 Student Example 44 Why is Financial Accounting Important? 48 Accounting Principles 49 Accounting Conventions 49 Conclusion 51 Discussion Questions 52 Numerical Questions 53 Appendix 2.1: Illustration of a Consolidated Income Statement for Marks & Spencer plc 2010 55 Appendix 2.2: Illustration of a Consolidated Statement of Financial Position for Marks and Spencer plc 2010 57 Appendix 2.3: Illustration of a Consolidated Statement of Cash Flows for Marks and Spencer plc 2010 59 Appendix 2.4: Illustration of a Consolidated Income Statement for Volkswagen 2009 61 Appendix 2.5: Illustration of a Consolidated Balance Sheet (Statement of Financial Position) for Volkswagen 2009 62 Appendix 2.6: Illustration of a Consolidated Cash Flow Statement (Statement of Cash Flows) for Volkswagen 2009 64 3 Main Financial Statements: The Income Statement (Profit and Loss Account) 66 Introduction 67 Context 67 Definitions 69 Layout 71 Main Components 72 Profit 79 Listed Companies 82 Capital and Revenue Expenditure 82 Limitations 83 Interpretation 83 Conclusion 83 Discussion Questions 84 Numerical Questions 84 4 Main Financial Statements: The Statement of Financial Position (Balance Sheet) 86 Introduction 87 Context 88 Definitions 89 Layout 90 Main Components 91 Limitations 103 Interpretation 104 Listed Companies 105 Conclusion 105 Discussion Questions 106 Numerical Questions 107 Appendix 4.1: Horizontal Format of Statement of Financial Position 108 5 Preparing the Financial Statements 109 Introduction 110 Main Financial Statements 110 Trial Balance to the Income Statement (Profit and Loss Account) and the Statement of Financial Position (Balance Sheet) 112 Adjustments to Trial Balance 116 Comprehensive Example 124 Conclusion 128 Discussion Questions 128 Numerical Questions 129 6 Partnerships and Limited Companies 141 Introduction 142 Context 143 Partnerships 144 Limited Companies 150 Distinctive Accounting Features of Limited Companies 154 Accounting Treatment for Limited Companies 163 Limited Company Example: Stevens, Turner Ltd 165 Limited Companies: Published Accounts 170 Conclusion 175 Discussion Questions 176 Numerical Questions 177 Appendix 6.1: Example of an Income Statement (Profit and Loss Account) Using UK GAAP (Manchester United Ltd) 187 Appendix 6.2: Example of a Statement of Financial Position (Balance Sheet) Using UK GAAP (Manchester United Ltd) 188 7 Main Financial Statements: The Statement of Cash Flows 190 Introduction 191 Importance of Cash 192 Context 194 Cash and the Bank Account 194 Relationship between Cash and Profi t 198 Preparation of Statement of Cash Flows 200 Conclusion 214 Discussion Questions 214 Numerical Questions 215 Appendix 7.1: Main Headings for the Cash Flow Statement (Statement of Cash Flows) for Sole Traders, Partnerships and some Non-Listed Companies under UK GAAP 222 Appendix 7.2: Preparation of a Sole Trader’s Cash Flow Statement Using the Direct Method Using UK Format 223 Appendix 7.3: Preparation of the Cash Flow Statement of Any Company Ltd Using the Indirect Method Using UK GAAP 224 Appendix 7.4: Example of Statement of Cash Flows (Cash Flow Statement) Using UK GAAP (Manchester United Ltd) 227 8 Interpretation of Accounts 229 Introduction 230 Context 230 Overview 231 Importance of Ratios 233 Closer Look at Main Ratios 234 Worked Example 246 Report Format 254 Holistic View of Ratios 256 Performance Indicators 257 Limitations 258 Conclusion 259 Discussion Questions 260 Numerical Questions 261 Appendix 8.1: John Brown Plc 270 Appendix 8.2: The Cash Flow Ratio Using UK GAAP 272 Section B: Financial Accounting: The Context 273 9 Regulatory and Conceptual Frameworks 275 Introduction 276 Traditional Corporate Model: Directors, Auditors and Shareholders 277 Regulatory Framework 282 Regulatory Framework in the UK 288 Corporate Governance 293 Conceptual Framework 298 Conclusion 306 Selected Reading 306 Discussion Questions 308 10 Measurement Systems 309 Introduction 310 Overview 310 Measurement Systems 313 Deficiencies of Historical Cost Accounting 315 Illustrative Example of Different Measurement Systems 315 Real Life 318 Conclusion 319 Selected Reading 319 Discussion Questions 320 11 The Annual Report 321 Introduction 322 Definition 322 Context 323 Multiple Roles 324 Main Contents of the Annual Report 329 Presentation 348 Group Accounts 350 Impression Management 352 Conclusion 355 Selected Reading 356 Discussion Questions 357 Section C: Management Accounting 359 12 Introduction to Management Accounting and Finance 361 Introduction 362 Context 363 Relationship with Financial Accounting 364 Relationship between Management Accounting and Finance 366 Overview 366 Cost Minimisation and Revenue Maximisation 374 Use of Computers and Impact of Digital Technology 375 Art not a Science 376 Changing Nature of Management Accounting 377 Conclusion 377 Selected Reading 377 Discussion Questions 379 13 Costing 380 Introduction 381 Importance of Cost Accounting 382 Types of Cost 383 Traditional Costing 387 Activity-Based Costing 393 Costing for Inventory Valuation 397 Different Costing Methods for Different Industries 401 Target Costing 405 Cost-Cutting 405 Conclusion 406 Discussion Questions 407 Numerical Questions 407 14 Planning, Control and Performance: Budgeting 413 Introduction 414 Management Accounting Control Systems 414 Nature of Budgeting 415 Cash Budget 419 Other Budgets 420 Manufacturing Budgets 423 Comprehensive Budgeting Example 426 Behavioural Aspects of Budgeting 431 Responsibility Accounting 435 Conclusion 437 Discussion Questions 437 Numerical Questions 438 15 Planning, Control and Performance: Standard Costing 443 Introduction 444 Nature of Standard Costing 445 Standard Cost Variances 446 Interpretation of Variances 455 Conclusion 456 Discussion Questions 457 Numerical Questions 458 16 Short-Term Decision Making 462 Introduction 463 Decision Making 463 Contribution Analysis 465 Decisions, Decisions 469 Throughput Accounting 475 Break-Even Analysis 477 Contribution Graph 481 Conclusion 483 Discussion Questions 484 Numerical Questions 484 Section D: Business Finance 489 17 Long-Term Decision Making: Capital Investment Appraisal 491 Introduction 492 Nature of Capital Investment 492 Capital Investment Appraisal Techniques 496 Payback Period 498 Accounting Rate of Return 500 Net Present Value 504 Profitability Index 507 Internal Rate of Return (IRR) 507 Other Factors 512 Conclusion 512 Discussion Questions 513 Numerical Questions 514 Appendix 17.1: Present Value of £1 at Compound Interest Rate (1 + r) 517 18 The Sources of Finance 518 Introduction 519 Nature of Sources of Finance 519 Long-Term Financing 521 Structure of the Business 534 Cost of Capital 534 Conclusion 537 Discussion Questions 538 Numerical Questions 539 19 The Management of Working Capital 540 Introduction 541 Working Capital 541 Short-Term Financing 544 Conclusion 556 Discussion Questions 556 Numerical Questions 557 Glossary of Key Accounting and Finance Terms 559 Appendix: Answers 591 Index 645

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Book SynopsisPractical trading psychology insight that can be put to work today Trading Psychology 2. 0 is a comprehensive guide to applying the science of psychology to the art of trading.Table of ContentsPreface ix Introduction xiii Prelude xvii Chapter 1 Best Process #1: Adapting to Change 1 Chapter 2 Best Process #2: Building on Strengths 95 Chapter 3 Best Process #3: Cultivating Creativity 199 Chapter 4 Best Process #4: Developing and Integrating Best Practices 277 Conclusion: From Best Practices to Best Processes 411 Postscript 415 References 417 About the Author 423 Index 425

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Book SynopsisBe a more effective leader with strategic thinking Leading with Strategic Thinking reveals what effective leaders do differently. Eschewing the one-size-fits-all leadership model, this helpful guide outlines four general leadership types and demonstrates how each type achieves success whether through personal vision, structured process, collaboration, or by empowering others. The authors identify the actions and skills that distinguish strategic leadership, drawn from interviews and focus groups with over three hundred leaders from around the world. Examples and case studies illustrate these concepts in action, and the provided reference materials steer readers toward more advanced information on this important topic. The disruptive forces of technology and globalization raise new challenges for leaders. This book is a manual that will help executives and aspiring leaders harness these forces and address the two central questions of strategic leadership:Trade Review“Leading with strategic thinking is a fantastic place to start if you have an interest in bettering the way you behave and think (and strategise) as a leader, if you are looking for inspiration for bringing psychological or behavioural ideas to your business, or simply if you’re keen to understand more about yourself and where your actions might take you” (B2B Marketing, February 2016)Table of ContentsForeword xiKristi Savacool Preface xv Introduction xxi Issues and Considerations xxi Fundamental Questions xxv Chapter 1 Fundamentals of Strategic Thinking and Leadership 1 The Nature of Strategic Thinking 1 The Art of Leadership 22 Chapter 2 The Four Types of Strategic Leadership 47 The Visionary Type: Driving Strategy through Personal Insight 55 The Directive Type: Driving Strategy through Structure and Process 71 The Incubating Type: Driving Strategy through Empowering Others 84 The Collaborative Type: Driving Strategy through Cocreation 99 Chapter 3 Examples of Strategic Leadership 117 Indiegogo 118 P&G’s Latin American Merger with Gillette 130 Design for America 141 Google Takeout 149 Chapter 4 Applying Strategic Leadership 159 Gaining Strategic Insight 160 Driving Strategic Change 164 Todd Connor and the Bunker 168 Chapter 5 Garnering Buy-in, Commitment, and Advocacy 179 Winning the Hearts of Your Followers 181 The YMCA of the USA 184 Engaging the Minds of Your Followers 192 The United States Coast Guard 193 Leveraging the Hands of Your Followers 201 The Heartland Angels 203 Chapter 6 Developing Strategic Leadership 211 Competencies of the Strategic Leader 213 Organization and Individual Development 237 GE’s Crotonville 242 In Closing 247 Resources 249 Firming Up and Rounding Out Your Skills and Abilities 249 Notes 261 References 271 About the Authors 279 Index 28

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Book SynopsisThe real story of what it takes to risk it all and go for broke. Conventional wisdom says most startups need to be in Silicon Valley, started by young engineers around a sexy new idea, and backed by VC funding. But as Mikkel Svane reveals in Startupland, the story of founding Zendesk was anything but conventional.Trade Review“Mikkel Svane’s Startupland is a refreshingly honest and provocative account of his journey building Zendesk, complete with the hard choices, unexpected turns, and sheer terrors involved in running a startup. Svane blends practical advice with deeply personal reflections on the company, the industry, and Silicon Valley as a whole. A must-read for aspiring entrepreneurs.” —Aaron Levie, cofounder and CEO, Box “Mikkel Svane is a great founder who wrote a great book about some of the not-so-great moments throughout his entrepreneurial escapades. With honesty, humor, and humility, Startupland shows what it’s really like.” —Paddy Cosgrave, founder, the Web Summit and F.ounders “I read Startupland over one weekend. I laughed, I cried, and mostly I was so happy I was on the other side. Mikkel Svane knows what it’s like and tells it as it is. A must-read.” —Julia Hartz, cofounder and president, Eventbrite, Inc. “Startupland is a refreshingly honest and humble inside look from Mikkel Svane, a Silicon Valley outsider. Startup founders will want to keep it as a reference for whenever things aren’t going according to plan (which is all the time).” —Ben Chestnut, cofounder and CEO, MailChimp Table of ContentsForeword by Alexia Tsotsis ix Introduction: The Pursuit of Happiness 1 1 The Honeymoon 7Believing that what you’re doing is great and knowing nothing of what’s to come 2 The Salad Days 31Keeping it together when things should be falling apart 3 Going for Broke 57How to turn down money and keep your company (and your soul) 4 The Bubble Redux 69Battling circumstances beyond your control 5 The Game is Not Over 81Getting investors and getting along with your partners 6 Coming to America 97Chasing the dream—and dealing with the reality 7 Go West 115Leveraging location and upending our lives 8 Growing Up 133Going from building a product to building a company—and messing up along the way 9 Innocence Lost 151From idealist to realist, and the uncomfortable journey in between 10 Going to the Show 167Becoming a public company and remembering where we came from Epilogue 179 A Few More Thoughts 185It’s all about relationships Notes 189 Acknowledgments 191 About the Authors 193 Index 197

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Book SynopsisProfessional-level guidance on effectively trading ETFs in markets around the world The ETF Handbookis a comprehensive handbook for using Exchange Traded Funds, designed specifically for institutional investors and professional advisors seeking to improve ETF profitability. While ETFs trade like stocks, they are not stocksand the differences impact every aspect of their use. This book provides full guidance toward effectively monitoring, analyzing, and executing ETFs, including the technical details you won''t find anywhere else. You''ll learn how they work, where they fit, and who is using them, as well as the resources that exist to provide access for investors. This new second edition includes updated coverage on how business has moved from niche to mainstream, ETF performance and issuers around the world, and changes to the users of ETFs in the US. The companion website features instructional video, as well as ready-to-use spreadsheets for calculating NAV and IIV.<Table of ContentsPreface ix Acknowledgments xv Introduction xvii Part One Introduction to the ETF Market Place 1 Chapter 1 How Did We End Up Here? 5 Chapter 2 Steps for Developing an ETF 32 Chapter 3 Giving an ETF Life in the Markets 50 Part Two ETF Trading and Execution 69 Chapter 4 Trading Volumes and ETF Liquidity 71 Chapter 5 Volume ≠ Liquidity—Understanding ETF Implied Liquidity 96 Chapter 6 Execution 128 Chapter 7 Market Participants and Their Trading Strategies 155 Chapter 8 Market Structure and ETFs—Protecting Your Portfolio from Flash Crashes 181 Part Three ETF Valuation 207 Chapter 9 ETFs with Domestic Holdings 209 Chapter 10 ETFs with International Constituents 224 Chapter 11 Fixed-Income and Currency ETFs 240 Chapter 12 Leveraged, Inverse, and Commodity Products 266 Chapter 13 Structure of an ETF 281 Appendix A Bloomberg ETF Reference Guide 304 Appendix B ETF Issuers 314 Appendix C An Overview of Japanese ETF Market 316 Appendix D An Overview of European ETF Market 322 About the Author 327 Index 329

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Book SynopsisClear, comprehensive guidance toward the global infrastructure investment market Infrastructure As An Asset Class is the leading infrastructure investment guide, with comprehensive coverage and in-depth expert insight. This new second edition has been fully updated to reflect the current state of the global infrastructure market, its sector and capital requirements, and provides a valuable overview of the knowledge base required to enter the market securely. Step-by-step guidance walks you through individual infrastructure assets, emphasizing project financing structures, risk analysis, instruments to help you understand the mechanics of this complex, but potentially rewarding, market. New chapters explore energy, renewable energy, transmission and sustainability, providing a close analysis of these increasingly lucrative areas. The risk profile of an asset varies depending on stage, sector and country, but the individual structure is most important in deteTable of ContentsList of Figures xiii List of Tables xv Preface xvii A Note from the Publisher xix Acknowledgements xxi About the Authors xxiii Introduction xxv Chapter 1 Infrastructure – An Overview 1 1.1 Demand for Infrastructure 2 1.2 Sustainability and Infrastructure 7 1.2.1 Sustainability and sustainable development – a brief history 8 1.2.2 The need for sustainable infrastructure 9 1.3 Definition and Characteristics of Infrastructure 10 1.3.1 Differentiation of terms: project – asset – facility 13 1.3.2 Characteristics 15 1.3.3 Cross-sector characteristics 16 1.3.4 Types of infrastructure companies 16 1.3.5 Role of the private sector 18 1.3.6 Value chain elements 19 1.3.7 Greenfield versus brownfield investments 21 1.3.8 Yield-driven versus IRR-driven investors 22 1.3.9 Sources of revenue and financing 24 1.3.10 Competition and regulation 25 Chapter 2 Infrastructure Investments 27 2.1 Infrastructure as an Asset Class 28 2.1.1 Investors in infrastructure 29 2.1.2 Risk-return profiles of unlisted infrastructure investments 33 2.1.3 Benchmarking infrastructure investments 40 2.1.4 Portfolio diversification through infrastructure 46 2.2 Sustainable Infrastructure Investing 56 2.2.1 Concept of sustainable investing 56 2.2.2 Why invest in sustainable infrastructure? 62 2.2.3 How to invest in infrastructure sustainably 64 2.2.4 Challenges of sustainable infrastructure investing 68 2.3 Approaches to Infrastructure Investing 69 2.3.1 Listed infrastructure investments 69 2.3.2 Unlisted infrastructure investments 73 Chapter 3 Organisational Model 87 3.1 Privatisation Models 87 3.1.1 Privatisation versus PPP 88 3.1.2 Formal privatisation 94 3.1.3 Functional privatisation 95 3.1.4 Material privatisation 96 3.2 Partnership Models 100 3.3 Business Models 102 3.3.1 Availability payment models 103 3.3.2 User-driven payment models 105 3.3.3 Direct-user payment models 106 3.4 Contractual Models 107 3.5 Financing Models 110 3.6 Interim Summary – Various ‘Privatisation Paths’ 110 Chapter 4 Characteristics of Selected Infrastructure Sectors and Subsectors 113 4.1 Transport 114 4.1.1 Cross-sector characteristics 114 4.1.2 Road transport 118 4.1.3 Rail transport 125 4.1.4 Air transport 133 4.1.5 Water transport 141 4.1.6 Sustainability considerations 149 4.2 Water Supply and Sewage Disposal 152 4.2.1 Characteristics and organisation 152 4.2.2 Sources of revenue and value chain elements 158 4.2.3 Competition and regulation 160 4.2.4 Private-sector involvement 161 4.2.5 Sustainability considerations 164 4.3 Waste Disposal 166 4.3.1 Characteristics and organisation 166 4.3.2 Sources of revenue and value chain elements 172 4.3.3 Competition and regulation 175 4.3.4 Private-sector involvement 176 4.3.5 Sustainability considerations 178 4.4 Energy – Electricity 180 4.4.1 Overview 181 4.4.2 Generation – renewable electricity – cross-sector characteristics 186 4.4.3 Generation – solar energy 191 4.4.4 Generation – wind energy – onshore 193 4.4.5 Generation – wind energy – offshore 195 4.4.6 Generation – hyrdoelectric energy 197 4.4.7 Generation – bioenergy 199 4.4.8 Transmission and distribution 203 4.4.9 Electricity storage 215 4.4.10 Sustainability considerations 228 4.5 Energy – Natural Gas Networks 234 4.5.1 Characteristics and organisation 234 4.5.2 Transmission 235 4.5.3 Storage 236 4.5.4 Distribution 237 4.5.5 Sources of revenue and value chain elements 237 4.5.6 Competition and regulation 238 4.5.7 Private-sector involvement 239 4.5.8 Sustainability considerations 240 4.6 Energy – District Energy Systems (DES) 241 4.6.1 Characteristics and organisation 242 4.6.2 Sources of revenue and value chain elements 244 4.6.3 Competition and regulation 246 4.6.4 Private-sector involvement 247 4.6.5 Sustainability considerations 248 4.7 Social Infrastructure 249 4.7.1 Healthcare facilities 250 4.7.2 Education facilities 253 4.7.3 Administrative facilities 255 4.7.4 Sustainability considerations 256 Chapter 5 Risks 259 5.1 Risk Management 259 5.2 General Risks 265 5.2.1 Market risk 265 5.2.2 Interest rate risk 269 5.2.3 Exchange rate risk 270 5.2.4 Environmental, social and governance (ESG) risk 270 5.2.5 Political, legal and regulatory risk 277 5.2.6 Force majeure 282 5.3 Project/Asset-specific Risks 283 5.3.1 Planning, construction and completion risk 284 5.3.2 Technical risk 285 5.3.3 Financing risk 287 5.3.4 Syndication risk 288 5.3.5 Operational risk 289 5.3.6 Contractual and counterparty risk 290 5.3.7 Realisation risk 290 5.4 Sector-specific Risks 291 Chapter 6 Project Finance 295 6.1 Project Finance Basics 295 6.2 Project Finance and PPP 297 6.3 Basic Structure of Project Finance 299 6.3.1 Key characteristics 299 6.3.2 Participants and other stakeholders 302 6.3.3 Objectives and contributions of project participants 308 6.3.4 Typical contractual framework for project finance 310 6.4 Structuring Project Financings – Traditional and in PPPs 312 6.4.1 Phase I – Advisory 316 6.4.2 Phase II – Project assessment 316 6.4.3 Phase III – Risk analysis and allocation 318 6.4.4 Phase IV – Financing 319 6.4.5 Phase V – Implementation and monitoring 324 Chapter 7 Financing Instruments 327 7.1 Equity 328 7.2 Mezzanine Capital 330 7.3 Debt 331 7.3.1 Senior loans 331 7.3.2 Bonds 334 7.3.3 Short-term finance 339 7.4 Government Support Schemes 339 7.4.1 National development banks 340 7.4.2 European Investment Bank (EIB) 341 7.4.3 European PPP Expertise Centre (EPEC) 343 7.4.4 Governmental export credit and direct investment insurance – ECAs 343 7.5 Asset-backed Securities 344 7.6 Sale and Leaseback 346 7.7 Derivatives 346 7.7.1 Futures 347 7.7.2 Options 348 Concluding Remarks 349 Appendix A Sample Page from CDC Toolkit on ESG for Fund Managers 351 Appendix B Credit List for Envision’s Sustainable Infrastructure Rating System 353 Appendix C Infrastructure Sustainability Rating System (Australia) – Themes and Categories 355 Appendix D National Appropriate Mitigation Actions (NAMAs) 357 References 361 Index 381

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Book SynopsisBelieving high-risk equals high-reward is holding your portfolio hostage High Returns from Low Risk proves that low-volatility, low-risk portfolios beat high-volatility portfolios hands down, and shows you how to take advantage of this paradox to dramatically improve your returns.Trade Review"This cleverly defined set of arguments poses an interesting challenge for those who remain intent on chasing higher premiums." (Investment Europe, March 2017)Table of ContentsIntroduction 1 Chapter One The Opposite of What You’re Aiming For 5 Chapter Two Mr Thrifty Enters the Stock Market 11 Chapter Three The Tortoise Beats the Hare 19 Chapter Four A Little Bit Is Enough 29 Chapter Five Ignoring the Eighth Wonder of the World 35 Chapter Six It’s All a Matter of Perspective 43 Chapter Seven The Dark Appeal of Risk 53 Chapter Eight Buy Them Cheap and Remember the Trend Is Your Friend 59 Chapter Nine All Good Things Come in Threes 67 Chapter Ten Spotting Tortoises and Hares 77 Chapter Eleven Slice and Dice, But Do It Wisely 83 Chapter Twelve Sit Back and Relax 91 Chapter Thirteen Trade Little, Be Patient 101 Chapter Fourteen The Biggest Victory of All 109 Chapter Fifteen The Golden Rule 117 Chapter Sixteen The Paradox Is Everywhere 123 Chapter Seventeen Will the Paradox Persist? 129 Chapter Eighteen Final Reflections 133 Epilogue Jan’s Perspective 137 Appendix ParadoxInvesting.com 143 Acknowledgments 145 References 147 Index 151

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Book SynopsisTrade ReviewPraise for EMPOWERED "EMPOWERED dives deep into the tough organizational and cultural issues that get in the way of most companies I work with today. This is the experience and advice I’ve been waiting for in one book."—Jeff Patton, Product Process and Design Coach "I've known Chris for well over a decade. He is one of the finest product leaders I know. The product managers who worked for him went on to become great product leaders themselves, in some of the best tech companies around. If you want to learn from the best, this book captures those lessons."—Doug Camplejohn, EVP and GM, Sales Cloud, Salesforce "Once again, Marty's wisdom and unique perspective have synthesized best-in-class companies, cultures, and leaders into a thesis and set of principles that are transformational. Easy to consume and apply, EMPOWERED is a must read for product leaders and all leaders who are convinced there must be a better way."—Chuck Geiger, former CTO Chegg, IAC, PayPal, eBay, Wine.com, Travelocity "If you're leading product people or even the whole product organization of your company, this book is for you. It’s the first book to outline the underlying philosophy behind stellar product organizations from a leader's perspective, and its many examples make it easy to understand these concepts and apply them in your company’s environment."—Petra Wille, Product Leadership Coach "As one of the most respected leaders on product globally, Marty takes us for a fascinating ride that will help you become a better product leader so you can do what you do best—create satisfying, engaging experiences for your users and customers."—Simon Zhang, CEO, Growing IO "To thrive in this age of constant disruption, companies must accelerate innovation and continuously deliver products customers love. A higher level of consistent innovation can only come from truly empowered teams. Over the past several years, Marty's insights, practical advice, and wisdom have been immensely valuable during our transformation to a highly empowered product organization. In this book, Marty provides an essential blueprint for building empowered teams. If you are serious about achieving extraordinary business results and developing a product innovation culture you can be truly proud of, this is a must-read!"—Shamim Mohammad, SVP, Chief Information and Technology Officer, CarMax "I've had the good fortune to work with Marty for many years, and yet, every time he comes out with a new book or article, I’m filled with both excitement and fear. What new product techniques are our competitors using that we are missing? EMPOWERED hits the mark dead on and provides a recipe for creating great products. Marty has a knack for making difficult product techniques seem both necessary and tangible. Read the book and rejuvenate your company!"—Jeff Trom, CTO, Workiva "The core challenge of all tech companies today is to be a truly product-led organization, with continuous product innovation resulting in sustainable competitive advantage. EMPOWERED to change their companies in order to survive and thrive."—Frerk-Malte Feller, COO, Afterpay "If you are wondering what will ensure your company survives, or why your products are failing, read this book. This is the 'how to'’ manual for building great product companies that last."—Amanda Richardson, CEO, CoderPad "I included INSPIRED as mandatory reading for anyone joining my product development teams. Now I'll add EMPOWERED to the list of mandatory reading."—Joca Torres, CPO, Gympass "INSPIRED has been a manual for our team to build better products. EMPOWERED is now a manual to build a stronger team. Everything I've read from SVPG is spot on, and often feels like I can use it the same day."—Ian Cairns, Head of Product for Twitter Developer Platform "EMPOWERED is first and foremost about permission. Companies have to give themselves the permission to orient around a culture of product centricity. Everything from org structure, to technology, to culture and coaching derives from this. And nothing embodies this idea more than Marty's writings."—Punit Soni, founder, CEO, SukiTable of ContentsPart I Lessons From Top Tech Companies 1 Chapter 1 Behind Every Great Company 5 Chapter 2 The Role of Technology 12 Chapter 3 Strong Product Leadership 17 Chapter 4 Empowered Product Teams 23 Chapter 5 Leadership in Action 25 Chapter 6 A Guide to EMPOWERED 27 Part II Coaching 31 Chapter 7 The Coaching Mindset 33 Chapter 8 The Assessment 40 Chapter 9 The Coaching Plan 47 Chapter 10 The One-on-One 65 Chapter 11 The Written Narrative 73 Chapter 12 Strategic Context 76 Chapter 13 Sense of Ownership 81 Chapter 14 Managing Time 87 Chapter 15 Thinking 90 Chapter 16 Team Collaboration 93 Chapter 17 Stakeholder Collaboration 98 Chapter 18 Imposter Syndrome 102 Chapter 19 Customer-Centricity 105 Chapter 20 Integrity 109 Chapter 21 Decisions 114 Chapter 22 Effective Meetings 120 Chapter 23 Ethics 124 Chapter 24 Happiness 128 Chapter 25 Leader Profile: Lisa Kavanaugh 134 Part III Staffing 139 Chapter 26 Competence and Character 142 Chapter 27 Recruiting 146 Chapter 28 Interviewing 151 Chapter 29 Hiring 155 Chapter 30 Remote Employees 159 Chapter 31 Onboarding 164 Chapter 32 New Employee Bootcamp 170 Chapter 33 Performance Reviews 174 Chapter 34 Terminating 176 Chapter 35 Promoting 179 Chapter 36 Leader Profile: April Underwood 182 Part IV Product Vision and Principles 187 Chapter 37 Creating a Compelling Vision 190 Chapter 38 Sharing the Product Vision 195 Chapter 39 Product Principles and Ethics 201 Chapter 40 Leader Profile: Audrey Crane 203 Part V Team Topology 209 Chapter 41 Optimizing for Empowerment 212 Chapter 42 Team Types 216 Chapter 43 Empowering Platform Teams 220 Chapter 44 Empowering Experience Teams 224 Chapter 45 Topology and Proximity 229 Chapter 46 Topology Evolution 233 Chapter 47 Leader Profile: Debby Meredith 236 Part VI Product Strategy 241 Chapter 48 Focus 246 Chapter 49 Insights 251 Chapter 50 Actions 258 Chapter 51 Management 261 Chapter 52 Leader Profile: Shan-Lyn Ma 264 Part VII Team Objectives 269 Chapter 53 Empowerment 274 Chapter 54 Assignment 280 Chapter 55 Ambition 285 Chapter 56 Commitments 288 Chapter 57 Collaboration 292 Chapter 58 Management 295 Chapter 59 Accountability 298 Chapter 60 Objectives in Perspective 301 Chapter 61 Leader Profile: Christina Wodtke 304 Part VIII Case Study 309 Chapter 62 Company Backgrounder 312 Chapter 63 Company Objectives 314 Chapter 64 Product Vision and Principles 317 Chapter 65 Team Topology 319 Chapter 66 Product Strategy 325 Chapter 67 Product Team Objectives 334 Chapter 68 Business Results 343 Chapter 69 Key Takeaways 346 Chapter 70 Leader Profile: Judy Gibbons 349 Part IX Business Collaboration 355 Chapter 71 The Role of Product Leaders 357 Chapter 72 Stakeholder Management vs. Collaboration 360 Chapter 73 Shared Insights and Learning 363 Chapter 74 Keeping the Lights On 365 Chapter 75 Evangelism 367 Chapter 76 Leader Profile: Avid Larizadeh Duggan 370 Part X Inspired, Empowered, And Transformed 375 Chapter 77 Meaningful Transformation 377 Chapter 78 Transformation in Action 380 Chapter 79 TRANSFORMED 386 Chapter 80 The Most Important Thing 389 Chapter 81 The Destination 392 Acknowledgments 396 About the Authors 398 Learning More 400 Index 401

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Book SynopsisWALL STREET JOURNAL BESTSELLERFrom the cofounder of a $40 billion software company comes an invaluable guide packed with $1 trillion worth of advice from some of the worldâs most successful and recognizable entrepreneurs.Over the past 20 years, first as an early employee at Salesforce and later as a cofounder of Okta (a publicly traded software company now valued at over $40 billion), Frederic Kerrest has met the most successful entrepreneurs and investors in Silicon Valley and beyond. Heâs discussed every angle of entrepreneurship with themâwhat works, what doesnât, and what to do when things get roughâand heâs taken notes. The result is this unmatched blueprint for building and growing a business, drawn from his own experience as well as that of his fellow visionaries and business leaders, who have collectively built over $1 trillion worth of wealth for themselves and their investors. They include Marc Andreessen and Ben Horo

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Book SynopsisThe story of western correspondents in Russia is the story of Russia's attitude to the west. Russia has at different times been alternately open to western ideas and contacts, cautious and distant or, for much of the twentieth century, all but closed off. From the revolutionary period of the First World War onwards, correspondents in Russia have striven to tell the story of a country known to few outsiders. Their stories have not always been well received by political elites, audiences, and even editors in their own countriesbut their accounts have been a huge influence on how the West understands Russia. Not always perfect, at times downright misleading, they have, overall, been immensely valuable. In Assignment Moscow, former foreign correspondent James Rodgers analyses the news coverage of Russia throughout history, from the coverage of the siege of the Winter Palace and a plot to kill Stalin, to the Chernobyl explosion and the Salisbury poison scandal.Trade ReviewAssignment Moscow exposes how the Moscow correspondent has had to adapt to multiple manifestations of censorship, or compete with state-run media, the severity of which has ebbed and flowed with changes in regime. * History Today *Rodgers’s narrative rests on an enormous number of articles in Anglo-American media, books by and about journalists, and his own interviews with many Moscow correspondents. * Foreign Affairs Magazine *Rodgers retains his focus on the correspondent’s interactions with Russia and Russians, rather than being sidetracked into discussions of normative values or political controversy. This approach prepares the reader for the conclusion, which celebrates the openness and curiosity of the best Russia correspondents, reminding the reader that what they have just read is a history not of Russia but of how Western correspondents have told Russia’s stories. Differentiating the two is an important and hitherto neglected task but one that James Rodgers has achieved masterfully. * Journalism *Reporting from Russia has never been easy; Rodgers vividly captures the changing fortunes of Moscow correspondents over the past hundred years, as they penetrated the mysteries of life in Russia and brought them to our newspapers and screens. Some were duped, some were fellow-travellers or spies; most battled against censors and blank-faced politicians; all have helped to shape our understanding of the world’s biggest country. * Angus Roxburgh, former Moscow correspondent for the BBC, Sunday Times and Economist *Writing about journalism in Russia since the revolution, James Rodgers rightly emphasises that to understand Russia you have to talk to people of all kinds. But he argues that even correspondents who knew the language and the history found it hard to report dispassionately because of official obstruction and their own emotional involvement. * Rodric Braithwaite *A highly original, engrossing and accessible book, Assignment Moscow stands out among journalistic accounts of Russia for its subtlety, humility and historic scope. It tells the story of British and American journalists who aimed to throw light on Russia from Lenin to Putin, and in the process illuminated the West itself. * Arkady Ostrovsky, Author of The Invention of Russia: The Rise of Putin and the age of Fake News, Winner of the 2016 Orwell Prize *It is hard to believe that in the torrent of books published on Russia each year, that one could come along as original and valuable as Assignment Moscow. One comes to appreciate the service of our reporting men and women in Moscow. For all their fallibilities, without their dedication, we wouldn’t have half the understanding of Russia that we have today, imperfect as it will always be. We therefore owe them – and especially Rodgers as journalist, teacher, analyst and cataloguer – a huge debt. * James Nixey, Chatham House *[Rodgers'] experience has been wisely distilled in this fair-minded, balanced and perceptive exploration of the problems reporters have faced in trying to report from Russia. * British Journalism Review *Reveals how journalists’ experiences reporting from Russia for the past 100 years mirrors its changing attitude to the West. * The Journalist *Table of ContentsAcknowledgements List of illustrations Foreword by Martin Sixsmith Introduction 1.Sympathies in the Struggle: Reporting Russia in Revolution, 1917 2.‘The press is lying, or does not know’: Russia goes to war with itself 3.From ‘A Wild And Barbarous Country’ via Starvation to Stalinism 4.Believe Everything But The Facts 5.But What A Story Everything Tells Here: The Great Patriotic War 6.Secrets, Censorship, and Cocktails with the Central Committee 7.A Window On The Country: Reporting Reform and Ruin 8.‘Free for all’: the Yeltsin era 9.Becoming Strong Again? 10.Russia: My History Bibliography Index

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