Business, Finance & Law Books

Book SynopsisJohn C. Maxwell, #1 New York Times bestselling author, shows you how to achieve a life of purpose and meaning in this compact new book derived from his previous title, Intentional Living. We all have a longing to be significant, to make a contribution, to be a part of something noble and purposeful. But know this: you don't have to be a certain age, have a lot of money, or be powerful or famous to make a real difference. You can be significant starting today -- if you know your purpose. In The Power of Significance, you will find the pathway to a life that matters. Drawing on over 50 years of experience helping people around the world, John Maxwell gives practical guidance and motivation to get you started on your unique personal path to significance. Learn how to find your why, start small but believe big, and live every day as if it matters -- because it does!

Read more less

Book SynopsisIn Future Luxe: What’s Ahead for the Business of Luxury, Erwan Rambourg identifies the major forces and emerging trends that are set to reshape luxury over the next decade. The expansion of Chinese consumption and the boost in women’s spending power around the world will fuel continued growth in the industry—but even more importantly, fundamental changes are on the horizon. The younger generation is entering the luxury market, bringing new values and demands that will redefine the very meaning of luxury. The sector should expand in the realms of travel, health, leisure, even cannabis. For brands to resonate with these younger consumers they will have to develop substance beyond a high-quality product or a desirable logo. Greenwashing won’t cut it—brands will need to take seriously issues like diversity, sustainability, and ethical production. To ensure his portrait of the industry has the depth and nuance of real-world experience, Rambourg interviews several CEOs from the largest groups and brands, including Kering, Cartier, Puma, and Moncler, in addition to drawing on his own observations from over two decades in luxury. Future Luxe is engaging, wise, and deeply informed, a vital read for those new to the industry as well as veterans planning for continued success.Trade Review“A timely exploration of luxury post-pandemic, valuable reading for anyone in the business.” — Suzy Menkes, Editor, Vogue International “Erwan Rambourg's predictions are a fascinating and inspiring take on how this ancient industry will, like a phoenix, rise again and be relevant for the next generation.“ — Alessandro Bogliolo, chief executive officer, Tiffany & Co. “Erwan draws on his expertise, supported by the insights of leading industry experts, to help us envision a different future for the luxury industry. Future Luxe is a must read for anyone thinking through the fundamentals of luxury in the 21st Century.” — Burak Cakmak, Parsons School of Design Dean of Fashion "Erwan Rambourg has done it again. In this work he explodes some common misapprehensions about the luxury industry: retail is not dead, the future will continue to be female, and the Eastern consumer has not run out of steam. There is no other observer of the luxury industry whose insights are more useful and accurate.” — Robert Dunphy, Senior portfolio manager, Invesco "Future Luxe is a hopeful, optimistic and welcome treatise on the enduring power of luxury. As a highly sought after sector expert and fellow researcher, Erwan Rambourg smartly looks past distress to desire, with smart predictions for the industry to show that he understands the mindset that creates luxury’s timeless value." — John Gerzema, CEO, The Harris Poll and New York Times Bestselling Author "Erwan Rambourg's long awaited new book on the future of luxury comes at a time when the worlds of retail and luxury are going through unprecedented changes. His insights about the effects that Covid-19 will have, his predictions about the luxury sector in China and his knowledge of the retail and luxury industries are second to none. A must read!” — Ashley Galina Dudarenok, China marketing expert, LinkedIn Top Voice, three-times best-selling author, and founder of ChoZan and Alarice “Erwan Rambourg points amazingly well to the new ideals that luxury will embody: inclusivity; a level of care for people and the planet that is both aspirational and essential; and a commitment to quality through sustainability and circularity.” — Guillaume Le Cunff, CEO, Nestlé Nespresso S.A. "As an independent company, we always look for ways to benchmark our strategies and results, to check our convictions against others, and simply to broaden our horizons. The insight provided by Erwan’s analyses is invaluable!”— Jean Cassegrain, Longchamp CEO “Tapping into his deep knowledge, extensive experience and vast network of industry leaders, Erwan Rambourg’s Future Luxe provides an insightful roadmap to navigating the global world of retail and luxury beyond the immediate aftermath of the Covid-19 pandemic, into the end of our decade. His analysis of the fundamental shifts in this field is a must-read for anyone who wants to succeed in this sector.” — Ketty Pucci-Sisti Maisonrouge, Luxury Entrepreneur, Adjunct Professor at Columbia Business School, President of the Luxury Education Foundation “An inspiring read. Rambourg captures the essence of trends we’re seeing across the fascinating world of luxury, and provides practical, strategic advice alongside important insights into the future." —Sandrine Crener, Program Director, Harvard Business School "Erwan builds his case for luxury with vigor and charm, unfurling all manner of hard evidence alongside his keen instincts and wry humor." —Miles Socha, International Editor, Women's Wear Daily

Read more less

Book SynopsisTrade Review[A] compulsively readable book about bad habits becoming big business…In crisp and playful prose and with plenty of needed humor, Courtwright has written a fascinating history of what we like and why we like it, from the first taste of beer in the ancient Middle East to opioids in West Virginia. -- Micah Meadowcroft * American Conservative *A fascinating history of corporate America’s efforts to shape our habits and desires. -- Sean Illing * Vox *One admires the eclectic sweep of Courtwright’s catalogue of addictions, his sheer wealth of knowledge…As with all addictions, the book offers many pleasures and rewards. -- Lennard Davis * Times Higher Education *A sweeping, ambitious account of the evolution of addiction…This bold, thought-provoking synthesis will appeal to fans of ‘big history’ in the tradition of Guns, Germs, and Steel. * Publishers Weekly *An important addition to Courtwright’s groundbreaking work on the history of substance use disorders, this study of the accelerating ‘weaponization’ of pleasure—and the biological, social, and economic incentives that fuel excess—is compulsory reading for anyone wondering how addiction became the foremost public health problem worldwide. Deeply researched, intensely readable, and a sobering reminder of our vulnerability to bondage marketed as liberation. -- Deborah Rudacille, author of The Riddle of GenderThe delight I took in reading this book can perhaps best be expressed by saying that I read it end-to-end in two sittings and might have done it in one if life hadn’t intruded. Courtwright’s erudition is astonishing, and his wit makes the book fun to read as well as informative. -- Keith Humphreys, author of Circles of RecoveryIs limbic capitalism the tail that wags the dog? Is it a vital cog in a larger and more complex machine? Courtwright offers a powerful and compelling history of the changing forms of pleasure and addiction over the long span of human history. A bold and fascinating book, sure to generate much discussion. -- Daniel Lord Smail, author of On Deep History and the BrainA mind-blowing tour de force that unwraps the myriad objects of addiction that surround us daily. From alcohol to internet gaming, food to gambling, drugs to sex, Courtwright covers the globe over thousands of years. This intelligent, incisive, and sometimes grimly entertaining book will become the standard work on the subject. -- Rod Phillips, author of Alcohol: A HistoryThis rich and rewarding book explores the long history of the global pleasure revolution. Alcohol, tobacco, drugs, commercialized food, gambling, and even the internet lean toward addiction, rooted in pleasure centers in the brain. Courtwright shows how today’s capitalism supplies those desires at an often frightful price. -- William Rorabaugh, author of Prohibition: A Concise HistoryCompelling and ingenious, this book deals the reader into a reality game where the crafty biology of pleasure meets what David Courtwright calls limbic capitalism. No one’s leveling up in the high-stakes game that is The Age of Addiction. The question is how you play, whether or not you can stop, and what happens when you do. -- Nancy D. Campbell, author of Discovering AddictionOffers dire warnings about our society…Courtwright has long been America’s leading voice on the history of drugs, and now he has shown how, in the world of limbic capitalism, addiction is promoted as a marketing tool for a wide variety of products, ones that guarantee customers, often for life. -- Emily Dufton * EH.net *

Read more less

Book SynopsisChanging the world and making a profit can go hand in hand.The Bestselling Business Book The Financial Times Best Economics Books of 2020"A Must Read Book From The Godfather Of Impact Investing" - Forbes"a powerful case for a movement that is gaining traction in society" - Andrew Jack, The Financial Times'[IMPACT's] aim is nothing less than to create a new type of capitalism infused with social purpose. The book deserves to be read by anybody interested in such a revolution.' - Martin Wolf, The Financial TimesA fascinating blueprint for a hope-filled future underpinned by the social power of impact investing. -- Kristalina Georgieva, Managing Director, International Monetary Fund, Former CEO, World Bank GroupCapitalism isn't immoral, it's amoral - it's a wild beast that needs to be led. Here Sir Ronnie provides the core operating manual for those seeking to do good while also doing well. -- Bono, Lead Singer of U2 and Co-Founder of The Rise FundImpact is a new and very important idea to reshape and save our economic system. -- Paul Romer, Nobel Prize in Economics, 2018The book is timely, visionary, bold...and thoroughly persuasive. -- Rabbi Lord Jonathan Sacks"The most genuinely hopeful and important work on finance and society I've read or imagined reading in decades." - Peter Sacks, Professor of English and American Literature and Language, Harvard University--- Throughout the world, capitalism and democracy are being challenged with great force. The world must change, but we cannot change it by throwing money at old ideas that no longer work. We need a new path to a new world where inequality is shrinking, where natural resources are regenerated, and people can benefit from shared prosperity.This is the world being created by the Impact Revolution.Pre-eminent international investor, entrepreneur, philanthropist and social finance innovator, Sir Ronald Cohen, has dedicated two decades to leading the Impact Revolution to achieve real social and environmental change. As one of the founders of venture capital, which ushered in the Tech Revolution, he builds on his years of personal experience to deliver a compelling account of how impact investing is reshaping capitalism.Whether you're an aspiring young entrepreneur, an established business person, an investor, a philanthropist, or somebody in government - or are interested, as a consumer or employee, in companies doing good and doing well at the same time - this book is a sure fire way to find out how you can play a role in changing the world.Throughout the world, capitalism and democracy are being challenged with great force. The world must change, but we cannot change it by throwing money at old ideas that no longer work. We need a new path to a new world where inequality is shrinking, where natural resources are regenerated, and people can benefit from shared prosperity.This is the world being created by the Impact Revolution.Pre-eminent international investor, entrepreneur, philanthropist and social finance innovator, Sir Ronald Cohen, has dedicated two decades to leading the Impact Revolution to achieve real social and environmental change. As one of the founders of venture capital, which ushered in the Tech Revolution, he builds on his years of personal experience to deliver a compelling account of how impact investing is reshaping capitalism.Whether you're an aspiring young entrepreneur, an established business person, an investor, a philanthropist, or somebody in government - or are interested, as a consumer or employee, in companies doing good and doing well at the same time - this book is a sure fire way to find out how you can play a role in changing the world.All royalties from the sale of this book are donated to impact charities.Trade ReviewA Must Read Book from the Godfather of Impact Investing. -- ForbesA powerful case for a movement that is gaining traction. -- Andrew Jack, The Financial Times[IMPACT's] aim is nothing less than to create a new type of capitalism infused with social purpose. The book deserves to be read by anybody interested in such a revolution. -- Martin Wolf, The Financial TimesA fascinating blueprint for a hope-filled future underpinned by the social power of impact investing. -- Kristalina Georgieva, Managing Director, International Monetary Fund, Former CEO, World Bank GroupCapitalism isn't immoral, it's amoral - it's a wild beast that needs to be led. Here Sir Ronnie provides the core operating manual for those seeking to do good while also doing well. -- Bono, Lead Singer of U2 and Co-Founder of The Rise Fund

Read more less

Book SynopsisSince its introduction in 2009, Bitcoin has been widely promoted as a digital currency that will revolutionize everything from online commerce to the nation-state. Yet supporters of Bitcoin and its blockchain technology subscribe to a form of cyberlibertarianism that depends to a surprising extent on far-right political thought. The Politics of Bitcoin exposes how much of the economic and political thought on which this cryptocurrency is based emerges from ideas that travel the gamut, from Milton Friedman, F.A. Hayek, and Ludwig von Mises to Federal Reserve conspiracy theorists.Forerunners: Ideas First is a thought-in-process series of breakthrough digital publications. Written between fresh ideas and finished books, Forerunners draws on scholarly work initiated in notable blogs, social media, conference plenaries, journal articles, and the synergy of academic exchange. This is gray literature publishing: where intense thinking, change, and speculation take place in scholarship.Trade Review"Golumbia, in his small but important way, is helping wake us to the falsity of our perceived neutrality."—One Flew East"This book is a very readable and valuable monograph which combines sound historical research with insightful analysis. All concerned citizens should read this book, which is an essential resource for understanding the true stakes of current technological hyperbole."—Newsclick"Golumbia a le mérite de s’attaquer à des idées qui ne sont pas suffisamment remises en question dans les communautés de la cryptomonnaie et des technologies de chaînes concertées. J’en recommande fortement la lecture à quiconque s’interroge sur les impacts de ces technologies sur nos sociétés."—D’un bloc à l’autre

Read more less

Book SynopsisTable of ContentsAdditional Resources xv About the Authors xvii Foreword xxi Acknowledgments xxiii Disclaimer xxxi Introduction 1 Structure of the Book 3 Part One: Valuation (Chapters 1–3) 3 Part Two: Leveraged Buyouts (Chapters 4 & 5) 5 Part Three: Mergers & Acquisitions (Chapters 6 & 7) 6 Part Four: Initial Public Offerings (Chapters 8 & 9) 8 ValueCo Summary Financial Information 9 Part One Valuation 11 Chapter 1 Comparable Companies Analysis 13 Summary of Comparable Companies Analysis Steps 14 Step I. Select the Universe of Comparable Companies 17 Study the Target 17 Identify Key Characteristics of the Target for Comparison Purposes 18 Screen for Comparable Companies 22 Step II. Locate The Necessary Financial Information 23 SEC Filings: 10-K, 10-Q, 8-K, and Proxy Statement 24 Equity Research 25 Press Releases and News Runs 26 Financial Information Services 26 Summary of Financial Data Primary Sources 27 Step III. Spread Key Statistics, Ratios, and Trading Multiples 28 Calculation of Key Financial Statistics and Ratios 28 Supplemental Financial Concepts and Calculations 42 Calculation of Key Trading Multiples 47 Step IV. Benchmark the Comparable Companies 50 Benchmark the Financial Statistics and Ratios 50 Benchmark the Trading Multiples 50 Step V. Determine Valuation 51 Valuation Implied by EV/EBITDA 52 Valuation Implied by P/E 52 Key Pros and Cons 54 Illustrative Comparable Companies Analysis for ValueCo 55 Step I. Select the Universe of Comparable Companies 55 Step II. Locate the Necessary Financial Information 57 Step III. Spread Key Statistics, Ratios, and Trading Multiples 57 Step IV. Benchmark the Comparable Companies 69 Step V. Determine Valuation 74 Chapter 2 Precedent Transactions Analysis 75 Summary of Precedent Transactions Analysis Steps 76 Step I. Select the Universe of Comparable Acquisitions 79 Screen for Comparable Acquisitions 79 Examine Other Considerations 80 Step II. Locate the Necessary Deal-Related and Financial Information 82 Public Targets 82 Private Targets 85 Summary of Primary SEC Filings in M&A Transactions 86 Step III. Spread Key Statistics, Ratios, and Transaction Multiples 88 Calculation of Key Financial Statistics and Ratios 88 Calculation of Key Transaction Multiples 94 Step IV. Benchmark the Comparable Acquisitions 98 Step V. Determine Valuation 98 Key Pros and Cons 99 Illustrative Precedent Transaction Analysis for ValueCo 100 Step I. Select the Universe of Comparable Acquisitions 100 Step II. Locate the Necessary Deal-Related and Financial Information 101 Step III. Spread Key Statistics, Ratios, and Transaction Multiples 103 Step IV. Benchmark the Comparable Acquisitions 111 Step V. Determine Valuation 113 Chapter 3 Discounted Cash Flow Analysis 115 Summary of Discounted Cash Flow Analysis Steps 116 Step I. Study the Target and Determine Key Performance Drivers 120 Study the Target 120 Determine Key Performance Drivers 120 Step II. Project Free Cash Flow 121 Considerations for Projecting Free Cash Flow 121 Projection of Sales, EBITDA, and EBIT 123 Projection of Free Cash Flow 125 Step III. Calculate Weighted Average Cost of Capital 131 Step III(a): Determine Target Capital Structure 132 Step III(b): Estimate Cost of Debt (rd) 133 Step III(c): Estimate Cost of Equity (re) 134 Step III(d): Calculate WACC 138 Step IV. Determine Terminal Value 138 Exit Multiple Method 139 Perpetuity Growth Method 139 Step V. Calculate Present Value and Determine Valuation 141 Calculate Present Value 141 Determine Valuation 143 Perform Sensitivity Analysis 145 Key Pros and Cons 146 Illustrative Discounted Cash Flow Analysis for ValueCo 147 Step I. Study the Target and Determine Key Performance Drivers 147 Step II. Project Free Cash Flow 147 Projection of Sales, EBITDA, and EBIT 149 Step III. Calculate Weighted Average Cost of Capital 154 Step IV. Determine Terminal Value 159 Step V. Calculate Present Value and Determine Valuation 161 Part Two Leveraged Buyouts 167 Chapter 4 Leveraged Buyouts 169 Key Participants 171 Financial Sponsors 171 Investment Banks 172 Bank and Institutional Lenders 174 Bond Investors 175 Private Credit Funds 176 Target Management 176 Characteristics of a Strong LBO Candidate 177 Strong Cash Flow Generation 178 Leading and Defensible Market Positions 178 Growth Opportunities 178 Efficiency Enhancement Opportunities 179 Low Capex Requirements 179 Strong Asset Base 180 Proven Management Team 180 Economics of LBOs 181 Returns Analysis—Internal Rate of Return 181 Returns Analysis—Cash Return 182 How LBOs Generate Returns 182 How Leverage Is Used to Enhance Returns 184 Primary Exit/Monetization Strategies 187 Sale of Business 187 Initial Public Offering 188 Dividends / Dividend Recapitalization 188 Below Par Debt Repurchase 188 LBO Financing: Structure 189 LBO Financing: Primary Sources 192 Secured Debt 192 High Yield Bonds 196 Mezzanine Debt 198 Equity Contribution 199 LBO Financing: Selected Key Terms 202 Security 202 Seniority 202 Maturity 203 Coupon 204 Call Protection 205 Covenants 206 Term Sheets 209 LBO Financing: Determining Financing Structure 212 Chapter 5 LBO Analysis 217 Financing Structure 217 Valuation 218 Step I. Locate and Analyze the Necessary Information 220 Step II. Build the Pre-LBO Model 220 Step II(a): Build Historical and Projected Income Statement through EBIT 221 Step II(b): Input Opening Balance Sheet and Project Balance Sheet Items 224 Step II(c): Build Cash Flow Statement through Investing Activities 226 Operating Activities 226 Step III. Input Transaction Structure 229 Step III(a): Enter Purchase Price Assumptions 229 Step III(b): Enter Financing Structure into Sources and Uses 231 Step III(c): Link Sources and Uses to Balance Sheet Adjustments Columns 232 Uses of Funds Links 235 Step IV. Complete the Post-LBO Model 238 Step IV(a): Build Debt Schedule 238 Step IV(b): Complete Pro Forma Income Statement from EBIT to Net Income 247 Step IV(c): Complete Pro Forma Balance Sheet 250 Step IV(d): Complete Pro Forma Cash Flow Statement 252 Step V. Perform LBO Analysis 254 Step V(a): Analyze Financing Structure 254 Step V(b): Perform Returns Analysis 256 Step V(c): Determine Valuation 260 Step V(d): Create Transaction Summary Page 261 Illustrative LBO Analysis for ValueCo 262 Part Three Mergers & Acquisitions 273 Chapter 6 Sell-Side M&A 275 Auctions 276 Auction Structure 279 Organization and Preparation 279 Identify Seller Objectives and Determine Appropriate Sale Process 279 Perform Sell-Side Advisor Due Diligence and Preliminary Valuation Analysis 281 Select Buyer Universe 281 Prepare Marketing Materials 282 Prepare Confidentiality Agreement 285 First Round 286 Contact Prospective Buyers 286 Negotiate and Execute Confidentiality Agreement with Interested Parties 286 Distribute Confidential Information Memorandum and Initial Bid Procedures Letter 287 Prepare Management Presentation 288 Set Up Data Room 289 Prepare Stapled Financing Package (if applicable) 291 Receive Initial Bids and Select Buyers to Proceed to Second Round 291 Second Round 293 Conduct Management Presentations 293 Facilitate Site Visits 294 Provide Data Room Access and Respond to Diligence Requests 294 Distribute Final Bid Procedures Letter and Draft Definitive Agreement 295 Receive Final Bids 296 Negotiations 300 Evaluate Final Bids 300 Negotiate with Preferred Buyer(s) 300 Select Winning Bidder 300 Render Fairness Opinion (if required) 301 Receive Board/Owner Approval and Execute Definitive Agreement 301 Closing 302 Obtain Necessary Approvals 302 Shareholder Approval 303 Financing and Closing 305 Negotiated Sale 306 Chapter 7 Buy-Side M&A 309 Buyer Motivation 310 Synergies 311 Cost Synergies 312 Revenue Synergies 312 Acquisition Strategies 313 Horizontal Integration 313 Vertical Integration 313 Conglomeration 314 Form of Financing 315 Cash on Hand 316 Debt Financing 316 Equity Financing 317 Debt vs. Equity Financing Summary—Acquirer Perspective 318 Deal Structure 318 Stock Sale 318 Asset Sale 321 Stock Sales Treated as Asset Sales for Tax Purposes 324 Buy-Side Valuation 327 Football Field 327 Analysis at Various Prices 330 Contribution Analysis 331 Merger Consequences Analysis 333 Purchase Price Assumptions 333 Balance Sheet Effects 338 Accretion/(Dilution) Analysis 343 Acquisition Scenarios—I) 50% Stock/50% Cash; II) 100% Cash; and III) 100% Stock 346 Illustrative Merger Consequences Analysis for the BuyerCo/ValueCo Transaction 351 Part Four Initial Public Offerings 373 Chapter 8 Initial Public Offerings 375 Why Do Companies Go Public? 376 Characteristics of a Strong IPO Candidate 378 Attractive Industry 378 Strong Competitive Position 378 Growth Opportunities 379 Moat & Barriers to Entry 380 Healthy Financial Profile 380 Disruptive & Differentiated Solutions 381 Favorable Risk Profile 381 Proven Management Team 382 Key Participants 383 Investment Banks 383 Company Management 386 Current Owners/Investors 387 IPO Investors 387 Lawyers 388 Accountants 388 Exchange Partner 389 IPO Advisors 390 Vendors 390 Selected Key Terms 391 Offering Size 392 Primary/Secondary 393 Overallotment Option, a.k.a. “Greenshoe” 394 Syndicate Structure 395 Lock-up Provision 396 Listing Exchange 396 Gross Spread 397 Dual-Track Process 398 Special Purpose Acquisition Companies (SPACs) 401 Direct Listings 403 Post-IPO Equity Offerings 406 IPO Considerations 407 Nasdaq Appendix 409 Chapter 9 The IPO Process 413 Organization and Preparation 415 Select IPO Team, Exchange Partner and Assign Responsibilities 415 Manage Corporate Housekeeping 418 C Corp vs. Up-C Structure 423 Determine IPO Timing 425 Determine Offering Structure and Preliminary IPO Valuation 426 Host Organizational Meeting 429` Due Diligence, Drafting, and Filing 430 Perform Underwriter Due Diligence 430 Draft and File the Registration Statement 431 Prepare Other Key Transaction and Corporate Governance Documents 436 Coordinate with Equity Research 437 Respond to SEC Comments and File Amended Registration Statement 437 Marketing and Roadshow 438 Prepare Marketing Materials 438 Salesforce Teach-in 439 Conduct Roadshow 440 Build Order Book 443 Pricing and Allocation 445 Price the Offering 445 Allocate Shares to Investors 447 Closing 447 Afterword 449 Bibliography and Recommended Reading 451 Index 457

Read more less

Book Synopsis

Read more less

Book SynopsisThe United States has just gone through the worst economic crisis in a generation. Why wasn't there more protest, as there was in other countries? During the United States' last great era of free-market policies, before World War II, economic crises were always accompanied by unrest. The history of capitalism, the economist Joseph Schumpeter warned in 1942, is studded with violent bursts and catastrophes. In The End of Protest, Alasdair Roberts explains how, in the modern age, governments learned to unleash market forces while also avoiding protest about the market's failures.Roberts argues that in the last three decades, the two countries that led the free-market revolutionthe United States and Britainhave invented new strategies for dealing with unrest over free market policies. The organizing capacity of unions has been undermined so that it is harder to mobilize discontent. The mobilizing potential of new information technologies has also been checked. Police forceTrade Review"Kudos to Cornell University Press for launching the series in order to engage the broader public about matters of the moment, such as the question of dissent."-Critical Margins

Read more less

Book SynopsisCompletely revised and greatly expanded, the new edition of this text takes readers who have been exposed to only basic courses in analysis through the modern general theory of random processes and stochastic integrals as used by systems theorists, electronic engineers and, more recently, those working in quantitative and mathematical finance.Trade Review“As supplementary reading for a second course or as s comprehensive (!) resource for the general theory of processes aimed at Ph. D. students and scholars, this second edition will stay a valuable resource.” (René L. Schilling, Mathematical Reviews, October, 2016)“This is a fundamental book in modern stochastic calculus and its applications: rich contents, well structured material, comprehensive coverage of all significant results given with complete proofs and well illustrated by examples, carefully written text. Hence, there are more than enough reasons to strongly recommend the book to a wide audience. Among them, there are good and motivated graduate university students. … Also, the book is an excellent reference book.” (Jordan M. Stoyanov, zbMATH 1338.60001, 2016)Table of ContentsPart I: Measure Theoretic Probability.- Measure Integral.- Probabilities and Expectation.- Part II: Stochastic Processes.- Filtrations, Stopping Times and Stochastic Processes.- Martingales in Discrete Time.- Martingales in Continuous Time.- The Classification of Stopping Times.- The Progressive, Optional and Predicable -Algebras.- Part III: Stochastic Integration.- Processes of Finite Variation.- The Doob-Meyer Decomposition.- The Structure of Square Integrable Martingales.- Quadratic Variation and Semimartingales.- The Stochastic Integral.- Random Measures.- Part IV: Stochastic Differential Equations.- Ito's Differential Rule.- The Exponential Formula and Girsanov's Theorem.- Lipschitz Stochastic Differential Equations.- Markov Properties of SDEs.- Weak Solutions of SDEs.- Backward Stochastic Differential Equations.- Part V: Applications.- Control of a Single Jump.- Optimal Control of Drifts and Jump Rates.- Filtering. Part VI: Appendices.

Read more less

Book SynopsisInternational Economics, 13th Edition provides students with a comprehensive, up-to-date review of the field's essential principles and theory. This comprehensive textbook explains the concepts necessary to understand, evaluate, and address the economic problems and issues the nations of the world are currently facing, and are likely to face in the future. Balancing depth and accessibility, the text helps students identify the real-world relevance of the material through extensive practical applications and examples. The new, thoroughly-updated and expanded edition provides students with a solid knowledgebase in international trade theory and policy, balance of payments, foreign exchange markets and exchange rates, open-economy macroeconomics, and the international monetary system. The text uniquely employs the same graphical and numerical model in chapters that cover the same basic concept, allowing students to recognize the relationship among the different topics witTable of Contents1 Introduction 1 1.1 The Globalization of the World Economy 1 1.2 International Trade and the Nation’s Standard of Living 4 1.3 The International Flow of Goods, Services, Labor, and Capital 8 1.4 International Economic Theories and Policies 12 1.5 Current International Economic Problems and Challenges 14 1.6 Organization and Methodology of the Text 16 Summary 18 Key Terms 19 Questions For Review 19 Problems 19 Appendix 20 A1.1 Basic International Trade Data 20 A1.2 Sources of Additional International Data and Information 24 OC Selected Bibliography OC INTERNet Part 1 International Trade Theory 2 The Law of Comparative Advantage 29 2.1 Introduction 29 2.2 The Mercantilists’ Views on Trade 30 2.3 Trade Based on Absolute Advantage: Adam Smith 32 2.4 Trade Based on Comparative Advantage: David Ricardo 33 2.5 Comparative Advantage and Opportunity Costs 38 2.6 The Basis for and the Gains from Trade under Constant Costs 42 2.7 Empirical Tests of the Ricardian Model 44 Summary 47 Key Terms 48 Questions for Review 48 Problems 49 Appendix 50 A2.1 Comparative Advantage with More Than Two Commodities 50 A2.2 Comparative Advantage with More Than Two Nations 52 OC Selected Bibliography OC INTERNet 3 The Standard Theory of International Trade 53 3.1 Introduction 53 3.2 The Production Frontier with Increasing Costs 53 3.3 Community Indifference Curves 56 3.4 Equilibrium in Isolation 57 3.5 The Basis for and the Gains from Trade with Increasing Costs 60 3.6 Trade Based on Differences in Tastes 67 Summary 68 Key Terms 69 Questions for Review 69 Problems 69 Appendix 70 A3.1 Production Functions, Isoquants, Isocosts, and Equilibrium 71 A3.2 Production Theory with Two Nations, Two Commodities, and Two Factors 72 A3.3 Derivation of the Edgeworth Box Diagram and Production Frontiers 73 A3.4 Some Important Conclusions 76 OC Selected Bibliography OC INTERNet 4 Demand and Supply, Offer Curves, and the Terms of Trade 77 4.1 Introduction 77 4.2 The Equilibrium-Relative Commodity Price with Trade—Partial Equilibrium Analysis 77 4.3 Offer Curves 80 4.4 The Equilibrium-Relative Commodity Price with Trade—General Equilibrium Analysis 83 4.5 Relationship Between General and Partial Equilibrium Analyses 84 4.6 The Terms of Trade 86 Summary 88 Key Terms 89 Questions for Review 89 Problems 89 Appendix 90 A4.1 Derivation of a Trade Indifference Curve for Nation 1 90 A4.2 Derivation of Nation 1’s Trade Indifference Map 92 A4.3 Formal Derivation of Nation 1’s Offer Curve 92 A4.4 Outline of the Formal Derivation of Nation 2’s Offer Curve 94 A4.5 General Equilibrium of Production, Consumption, and Trade 96 A4.6 Multiple and Unstable Equilibria 96 OC Selected Bibliography OC INTERNet 5 Factor Endowments and the Heckscher–Ohlin Theory 99 5.1 Introduction 99 5.2 Assumptions of the Theory 100 5.3 Factor Intensity, Factor Abundance, and the Shape of the Production Frontier 101 5.4 Factor Endowments and the Heckscher–Ohlin Theory 107 5.5 Factor–Price Equalization and Income Distribution 112 5.6 Empirical Tests of the Heckscher–Ohlin Model 119 Summary 125 Key Terms 126 Questions for Review 127 Problems 127 Appendix 128 A5.1 The Edgeworth Box Diagram for Nation 1 and Nation 2 129 A5.2 Relative Factor–Price Equalization 130 A5.3 Absolute Factor–Price Equalization 132 A5.4 Effect of Trade on the Short-Run Distribution of Income: The Specific-Factors Model 132 A5.5 Illustration of Factor–Intensity Reversal 134 A5.6 The Elasticity of Substitution and Factor–Intensity Reversal 136 A5.7 Empirical Tests of Factor–Intensity Reversal 137 OC Selected Bibliography OC INTERNet 6 Economies of Scale, Imperfect Competition, and International Trade 138 6.1 Introduction 138 6.2 The Heckscher–Ohlin Model and New Trade Theories 138 6.3 Economies of Scale and International Trade 140 6.4 Imperfect Competition and International Trade 143 6.5 Trade Based on Dynamic Technological Differences 152 6.6 Costs of Transportation, Environmental Standards, and International Trade 156 Summary 160 Key Terms 161 Questions for Review 161 Problems 162 Appendix 162 A6.1 External Economies and the Pattern of Trade 162 A6.2 Dynamic External Economies and Specialization 164 OC Selected Bibliography OC INTERNet 7 Economic Growth and International Trade 166 7.1 Introduction 166 7.2 Growth of Factors of Production 167 7.3 Technical Progress 169 7.4 Growth and Trade: The Small-Country Case 172 7.5 Growth and Trade: The Large-Country Case 177 7.6 Growth, Change in Tastes, and Trade in Both Nations 182 Summary 184 Key Terms 185 Questions for Review 185 Problems 186 Appendix 187 A7.1 Formal Proof of the Rybczynski Theorem 187 A7.2 Growth with Factor Immobility 189 A7.3 Graphical Analysis of Hicksian Technical Progress 190 OC Selected Bibliography OC INTERNet Part 2 International Trade Policy 8 Trade Restrictions: Tariffs 195 8.1 Introduction 195 8.2 Partial Equilibrium Analysis of a Tariff 197 8.3 The Theory of Tariff Structure 203 8.4 General Equilibrium Analysis of a Tariff in a Small Country 207 8.5 General Equilibrium Analysis of a Tariff in a Large Country 210 8.6 The Optimum Tariff 212 Summary 213 Key Terms 214 Questions for Review 214 Problems 215 Appendix 216 A8.1 Partial Equilibrium Effects of a Tariff in a Large Nation 216 A8.2 Derivation of the Formula for the Rate of Effective Protection 218 A8.3 The Stolper–Samuelson Theorem Graphically 219 A8.4 Exception to the Stolper–Samuelson Theorem—The Metzler Paradox 221 A8.5 Short-Run Effect of a Tariff on Factors’ Income 222 A8.6 Measurement of the Optimum Tariff 224 OC Selected Bibliography OC INTERNet 9 Nontariff Trade Barriers and the New Protectionism 226 9.1 Introduction 226 9.2 Import Quotas 226 9.3 Other Nontariff Barriers and the New Protectionism 229 9.4 The Political Economy of Protectionism 238 9.5 Strategic Trade and Industrial Policies 242 9.6 History of U.S. Commercial Policy 246 9.7 The Uruguay Round, the Failed Doha Round, and the Outstanding Trade Problems 250 Summary 255 Key Terms 256 Questions for Review 257 Problems 257 Appendix 258 A9.1 Centralized Cartels 258 A9.2 International Price Discrimination 259 A9.3 Tariffs, Subsidies, and Domestic Goals 260 OC Selected Bibliography OC INTERNet 10 Economic Integration: Customs Unions and Free Trade Areas 262 10.1 Introduction 262 10.2 Trade-Creating Customs Union 263 10.3 Trade-Diverting Customs Unions 264 10.4 The Theory of the Second Best and Other Static Welfare Effects of Customs Unions 266 10.5 Dynamic Benefits from Customs Unions 268 10.6 History of Attempts at Economic Integration 269 Summary 280 Key Terms 281 Questions for Review 281 Problems 281 Appendix 282 A10.1 General Equilibrium Analysis of the Static Effects of a Trade-Diverting Customs Union 282 A10.2 Regional Trade Agreements and Other Groups Around the World in June 2018 284 OC Selected Bibliography OC INTERNet 11 International Trade and Economic Development 289 11.1 Introduction 289 11.2 The Importance of Trade to Development 290 11.3 The Terms of Trade and Economic Development 295 11.4 Export Instability and Economic Development 300 11.5 Import Substitution versus Export Orientation 303 11.6 Current Problems Facing Developing Countries 307 Summary 313 Key Terms 313 Questions for Review 314 Problems 314 Appendix 315 A11.1 Income Inequalities by Traditional and Purchasing-Power Parity (PPP) Measures 315 A11.2 The World by Income 316 OC Selected Bibliography OC INTERNet 12 International Resource Movements and Multinational Corporations 319 12.1 Introduction 319 12.2 Some Data on International Capital Flows 320 12.3 Motives for International Capital Flows 323 12.4 Welfare Effects of International Capital Flows 326 12.5 Multinational Corporations 329 12.6 Motives for and Welfare Effects of International Labor Migration 334 Summary 338 Key Terms 339 Questions for Review 339 Problems 339 Appendix 340 A12.1 The Transfer Problem 340 A12.2 International Trade, Financial and Aid Flows, and Migration 341 OC Selected Bibliography OC INTERNet Part 3 The Balance of Payments, Foreign Exchange Markets, and Exchange Rates 13 Balance of Payments 347 13.1 Introduction 347 13.2 Balance of Payments Accounting 348 13.3 The International Transactions of the United States 350 13.4 Accounting Balances and the U.S. Balance of Payments 353 13.5 The Postwar Balance of Payments of the United States 353 13.6 The Importance of the Current Account 356 13.7 The International Investment Position of the United States 357 Summary 360 Key Terms 361 Questions for Review 361 Problems 362 Appendix 362 A13.1 The IMF Method of Reporting International Transactions 362 OC Selected Bibliography OC INTERNet 14 Foreign Exchange Markets and Exchange Rates 366 14.1 Introduction 366 14.2 Functions of the Foreign Exchange Markets 366 14.3 Foreign Exchange Rates 370 14.4 Spot and Forward Rates, Currency Swaps, Futures, and Options 376 14.5 Foreign Exchange Risks, Hedging, and Speculation 379 14.6 Interest Arbitrage and the Efficiency of Foreign Exchange Markets 385 14.7 Eurocurrency or Offshore Financial Markets 392 Summary 396 Key Terms 397 Questions for Review 398 Problems 398 Appendix 399 A14.1 Derivation of the Formula for the Covered Interest Arbitrage Margin 399 OC Selected Bibliography OC INTERNet 15 Exchange Rate Determination 401 15.1 Introduction 401 15.2 Purchasing-Power Parity Theory 402 15.3 Monetary Approach to the Balance of Payments and Exchange Rates 407 15.4 Portfolio Balance Model and Exchange Rates 416 15.5 Exchange Rate Dynamics 421 15.6 Empirical Tests of the Monetary and Portfolio Balance Models and Exchange Rate Forecasting 425 Summary 428 Key Terms 429 Questions for Review 429 Problems 429 Appendix 431 A15.1 Formal Monetary Approach Model 431 A15.2 Formal Portfolio Balance Model and Exchange Rates 433 OC Selected Bibliography OC INTERNet Part 4 Open-Economy Macroeconomics and the International Monetary System 16 The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates 437 16.1 Introduction 437 16.2 Adjustment with Flexible Exchange Rates 438 16.3 Effect of Exchange Rate Changes on Domestic Prices and the Terms of Trade 441 16.4 Stability of Foreign Exchange Markets 443 16.5 Elasticities in the Real World 445 16.6 Adjustment under the Gold Standard 454 Summary 456 Key Terms 457 Questions for Review 457 Problems 458 Appendix 458 A16.1 The Effect of Exchange Rate Changes on Domestic Prices 458 A16.2 Derivation of the Marshall–Lerner Condition 460 A16.3 Derivation of the Gold Points and Gold Flows Under the Gold Standard 462 OC Selected Bibliography OC INTERNet 17 The Income Adjustment Mechanism and Synthesis of Automatic Adjustments 464 17.1 Introduction 464 17.2 Income Determination in a Closed Economy 465 17.3 Income Determination in a Small Open Economy 468 17.4 Foreign Repercussions 476 17.5 Absorption Approach 479 17.6 Monetary Adjustments and Synthesis of the Automatic Adjustments 481 Summary 484 Key Terms 485 Questions for Review 485 Problems 486 Appendix 487 A17.1 Derivation of Foreign Trade Multipliers with Foreign Repercussions 487 A17.2 The Transfer Problem Once Again 489 OC Selected Bibliography OC INTERNet 18 Open-Economy Macroeconomics: Adjustment Policies 491 18.1 Introduction 491 18.2 Internal and External Balance with Expenditure-Changing and Expenditure-Switching Policies 494 18.3 Equilibrium in the Goods Market, in the Money Market, and in the Balance of Payments 496 18.4 Fiscal and Monetary Policies for Internal and External Balance with Fixed Exchange Rates 498 18.5 The IS–LM–BP Model with Flexible Exchange Rates 506 18.6 Policy Mix and Price Changes 510 18.7 Direct Controls 516 Summary 519 Key Terms 520 Questions for Review 520 Problems 521 Appendix 522 A18.1 Derivation of the IS Curve 522 A18.2 Derivation of the LM Curve 524 A18.3 Derivation of the BP Curve 525 A18.4 Mathematical Summary 527 OC Selected Bibliography OC INTERNet 19 Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply 528 19.1 Introduction 528 19.2 Aggregate Demand, Aggregate Supply, and Equilibrium in a Closed Economy 528 19.3 Aggregate Demand in an Open Economy Under Fixed and Flexible Exchange Rates 534 19.4 Effect of Economic Shocks and Macroeconomic Policies on Aggregate Demand in Open Economies with Flexible Prices 536 19.5 Effect of Fiscal and Monetary Policies in Open Economies with Flexible Prices 539 19.6 Macroeconomic Policies to Stimulate Growth and Adjust to Supply Shocks 544 Summary 549 Key Terms 550 Questions for Review 550 Problems 551 OC Selected Bibliography OC INTERNet 20 Flexible Versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination 552 20.1 Introduction 552 20.2 The Case for Flexible Exchange Rates 553 20.3 The Case for Fixed Exchange Rates 555 20.4 Optimum Currency Areas, the European Monetary System, and the European Monetary Union 562 20.5 Currency Boards Arrangements and Dollarization 571 20.6 Exchange Rate Bands, Adjustable Pegs, Crawling Pegs, and Managed Floating 573 20.7 International Macroeconomic Policy Coordination 578 Summary 580 Key Terms 581 Questions for Review 581 Problems 581 Appendix 582 A20.1 Exchange Rate Arrangements 582 OC Selected Bibliography OC INTERNet 21 The International Monetary System: Past, Present, and Future 586 21.1 Introduction 586 21.2 The Gold Standard and the Interwar Experience 587 21.3 The Bretton Woods System 590 21.4 Operation and Evolution of the Bretton Woods System 592 21.5 U.S. Balance-of-Payments Deficits and Collapse of the Bretton Woods System 596 21.6 The International Monetary System: Present and Future 599 Summary 615 Key Terms 616 Questions for Review 617 Problems 617 Appendix 618 A21.1 International Reserves: 1950–2018 618 OC Selected Bibliography OC INTERNet Glossary of Key Terms G-1 Name Index I-1 Subject Index I-5

Read more less

Book SynopsisThese authors knowledge of the nuances of movie and television accounting shines through the pages of this book, which is sure to become a standard reference in this field. -- Harold L. Vogel, author, Entertainment Industry Economics. The distribution of a motion pictures profits is, for most filmmakers, a murky, labyrinthine domain ruled by studio/distributor accountants and lawyers. Movie Money -- a must-read for all film producers, directors, writers, and actors -- unravels, demystifies, and explains the film industrys unique, arcane, creative accounting practices. It examines a films various revenue-generating and revenue-consuming components and presents numerous film industry definitions and calculations of gross and net profits. It also provides in-depth coverage of the various aspects of profit participation -- its terminology and accounting and deal practices -- along with chapters on audits, claims, and negotiating tips and tricks. The Third Edition adds a wealth of all-new material on New Media, a chapter on film distribution and production in todays China, written by Tracy Liang (a CPA with Green Hasson Janks), as well as a thorough updating of every section of the book.

Read more less

Book SynopsisKinicki, Organizational Behavior 3e develops students'' problem-solving skills through a unique, consistent, integrated 3-step Problem-Solving Approach that lets them immediately put research-based knowledge into practice in their personal and professional lives. Organizational Behavior 3e explicitly addresses OB implications for students'' core career readiness skills, showing how OB provides them with the higher-level soft skills employers seek, such as problem solving, critical thinking, leadership and decision making. The understanding and application of OB theories and concepts provides tremendous value to students'' lives today and throughout their careers. Table of ContentsPART ONE: INDIVIDUAL BEHAVIOR 1. Making OB Work for Me2. Values and Attitudes3. Individual Differences and Emotions 4. Social Perception and Managing Diversity5. Foundations of Employee Motivation 6. Performance Management7. Positive Organizational BehaviorPART TWO: GROUPS8. Groups and Teams9. Communication in the Digital Age10. Managing Conflict and Negotiation11. Decision Making and Creativity12. Power, Influence, and Politics 13. Leadership EffectivenessPART THREE: ORGANIZATIONAL PROCESSES14. Organizational Culture, Socialization, and Mentoring15. Organizational Design, Effectiveness, and Innovation16. Managing Change and Stress

Read more less

Book SynopsisManaging the human side of work Research by Daniel Goleman, a psychologist and coauthor of Primal Leadership, has shown that emotional intelligence is a more powerful determinant of good leadership than technical competence, IQ, or vision. Influencing those around us and supporting our own well-being requires us to be self-aware, know when and how to regulate our emotional reactions, and understand the emotional responses of those around us. No wonder emotional intelligence has become one of the crucial criteria in hiring and promotion. But luckily it’s not just an innate trait: Emotional intelligence is composed of skills that all of us can learn and improve on. In this guide, you’ll learn how to: Determine your emotional intelligence strengths and weaknessesUnderstand and manage your emotional reactionsDeal with difficult peopleMake smarter decisionsBounce back from tough timesHelp your team develop emotional intelligence Arm yourself with the advice you need to succeed on the job, with the most trusted brand in business. Packed with how-to essentials from leading experts, the HBR Guides provide smart answers to your most pressing work challenges.

Read more less

Book SynopsisStart a successful business mid-life When you think of someone launching a start-up, the image of a twenty-something techie probably springs to mind. However, Gen Xers and Baby Boomers are just as likely to start businesses and reinvent themselves later in life. Never Too Old to Get Rich is an exciting roadmap for anyone age 50+ looking to be their own boss and launch their dream business. This book provides up-to-date resources and guidance for launching a business when you''re 50+. There are snappy profiles of more than a dozen successful older entrepreneurs, describing their inspirational journeys launching businesses and nonprofits, followed by Q&A conversations, and pull-out boxes containing action steps. The author walks you through her three-part fitness program: guidelines for becoming financially fit, physically fit, and spiritually fit, before delving more deeply into how would-be entrepreneurs over 50 can succeed. Describes how you can Table of ContentsForeword ix Acknowledgments xiii About the Author xvii Introduction 1 Also by Kerry Hannon 13 Part I Turning a Passion Into a Business Chapter 1 Lights, Camera, Action 17 Chapter 2 Money Maven 33 Chapter 3 Military to Merlot 47 Chapter 4 Cockpit to the Coffee Shop 65 Chapter 5 Bejeweled 73 Chapter 6 Scooting Ahead 81 Chapter 7 Write Stuff 91 Chapter 8 Horsing Around 99 Part II Building a Winning Senior–Junior Partnership Chapter 9 Ginning Things Up 113 Chapter 10 The Whole Million-Dollar Package 125 Chapter 11 Cookie Contessas 135 Part III The Path to Social Entrepreneurship Chapter 12 Girl Power 147 Chapter 13 Food, Glorious Food 157 Chapter 14 Hope in Harlem 167 Chapter 15 The Magic of Music 177 Part IV Winning Strategies of Female Entrepreneurs Chapter 16 Health and Happiness 189 Chapter 17 Chilling Out 201 Chapter 18 Design from Within 211 Chapter 19 Nutty for Opera 221 Chapter 20 The Holistic Path 231 Afterword 247 Index 249

Read more less

Book SynopsisBecome more confident at work.You need confidence to inspire trust, communicate effectively, and succeed in your organization. But self-doubt and nerves can undermine your ability to act decisively and persuade others. What can you do to push past these insecurities?This book explains how you can use emotional intelligence to become more confident at work. You'll learn how to correct what is holding you back, how to overcome imposter syndrome, and when feeling too self-assured can actually backfire.This volume includes the work of: Tomas Chamorro-Premuzic Rosabeth Moss Kanter Amy Jen Su Peter Bregman How to be human at work. The HBR Emotional Intelligence Series features smart, essential reading on the human side of professional life from the pages of Harvard Business Review. Each book in the series offers proven research showing how our emotions impact our work lives, practical advice for managing difficult people and situations, and inspiring essays on what it means to tend to our emotional well-being at work. Uplifting and practical, these books describe the social skills that are critical for ambitious professionals to master.

Read more less

Book Synopsis

Read more less

Book SynopsisThree experts in Human Resources introduce a measurement system that convincingly showcases how HR impacts business performance. Drawing from the authors' ongoing study of nearly 3,000 firms, this book describes a seven-step process for embedding HR systems within the firm's overall strategy--what the authors describe as an HR Scorecard--and measuring its activities in terms that line managers and CEOs will find compelling. Analyzing how each element of the HR system can be designed to enhance firm performance and maximize the overall quality of human capital, this important book heralds the emergence of HR as a strategic powerhouse in today's organizations.Trade Review"A compelling way to define and measure HR's effect on the bottom line. The book constitutes a breakthrough in thinking for the HR function." —Paul McKinnon, Senior Vice President of HR, Dell Computer Corporation"At the root of every business challenge or opportunity is a human issue. If you believe that, you must take seriously the challenge of strategically planning for, and measuring the results of, human resource work. The HR Scorecard will both challenge your thinking in this area and provide options that you can use today." —Ralph Christensen, Senior Vice President of Human Resources, Hallmark Cards, Inc."A must-read primer for human resources professionals who view HR as critical to the success of their companies." —Mike Tindall, Vice President of Strategic Measures, Prudential"This fact-filled, thoughtful, well-researched book provides valuable insights on the most pressing issue facing organizations today: how to measure their human resource performance. In an economy increasingly based on knowledge and people, no executive can afford not to read this book." —Jeffrey Pfeffer, Thomas D. Dee II Professor of Organizational Behavior at the Stanford Business School and Author of The Human Equation"The HR Scorecard provides a language for HR professionals and line managers working together to really nail the connection between HR interventions and the firm's success." —Susan Bowick, Vice President and Director of Human Resources, Hewlett-Packard"The HR Scorecard demonstrates how improved measurements play a vital role in linking human resource initiatives to business strategies and to significant increases in shareholder value." —Robert Kaplan, Marvin Bower Professor of Leadership Development, Harvard Business School and Coauthor of The Balanced Scorecard and The Strategy-Focused Organization"This book serves as a tremendous strategic tool for HR functions to showcase their impact on the business. If you want to succeed in the new economy as a high-performing HR strategic partner, I recommend you read this book." —Robyn Ewing, Senior Vice President of HR, Energy Services, Williams"A must-read for all HR executives. Full of useful findings, methods, measures and examples." —Edward E. Lawler III, Author of Rewarding Excellence"The HR Scorecard is the definitive guide for today's human resource professional. It provides perfect insight into a field that has been under much scrutiny and in great need of change." —Milano Reyna, Worldwide Human Interests Director, Saatchi & SaatchiTable of ContentsHR as a strategic partner - the measurement challenge; appendix - research and results; clarifying and measuring HR's strategic influence - introduction of a seven-step process; creating an HR scorecard; cost-benefit analysis for HR interventions; the principles of good measurement; measuring HR alignment; competencies for HR professionals; guidelines for implementing an HR scorecard.

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book SynopsisThe key to success, salespeople are constantly told, is to follow specific steps and techniques. Just heed the advice of this guru or that speaker, and you’ll be the best! Well, that approach just doesn’t work for most salespeople. And it probably doesn’t work for you either. The most successful reps, Gallup has determined from decades of research, understand their innate talents and strengths and use them to sell more effectively. The truth is, no two great sales reps are alike: You might thrive on fierce competition, while a colleague wins by being a super-analytical problem solver. Or maybe you have a tremendous talent for building relationships, while your fellow top performer is a brilliant strategist. What’s most important is that you win business your way. You’ll receive a code to take the world-renowned Clifton StrengthsFinder assessment, which reveals your unique talents and strengths. Armed with this information, you’ll follow this book through the entire selling process — from assessing opportunity and cold calling to retaining and growing accounts — learning how to apply your talents at each step. The book also features action items that will help you make the most of your strengths in sales. There’s no one right way to sell. Salespeople get the best results by building on who they already are. This lively and liberating book will teach you to do just that.

Read more less

Book SynopsisThe Work Breakdown Structure (WBS) serves as a guide for defining work as it relates to a specific project's objectives. The Practice Standard for Work Breakdown Structures Third Edition supplies project managers and team members with direction for the preliminary development and the implementation of the WBS. Consistent with A Guide to the Project Management Body of Knowledge (PMBOK® Guide) Sixth Edition, the WBS Practice Standard presents a standard application of the WBS as a project management tool. Throughout the book, the reader will learn what characteristics constitute a high-quality WBS and discover the substantial benefits of using the WBS in every-day, real-life situations.

Read more less

Book Synopsis

Read more less

Book Synopsis

Read more less

Book SynopsisA guide to the study of how and why you really make financial decisions While classical economics is based on the notion that people act with rational self-interest, many key money decisionslike splurging on an expensive watchcan seem far from rational. The field of behavioral economics sheds light on the many subtle and not-so-subtle factors that contribute to our financial and purchasing choices. And in Behavioral Economics For Dummies, readers will learn how social and psychological factors, such as instinctual behavior patterns, social pressure, and mental framing, can dramatically affect our day-to-day decision-making and financial choices. Based on psychology and rooted in real-world examples, Behavioral Economics For Dummies offers the sort of insights designed to help investors avoid impulsive mistakes, companies understand the mechanisms behind individual choices, and governments and nonprofits make public decisions. A friendTable of ContentsIntroduction 1 About This Book 1 Conventions Used in This Book 2 What You’re Not to Read 2 Foolish Assumptions 3 How This Book isOrganized 3 Part I: Introducing Behavioral Economics: The Science of Making Real-World Choices 4 Part II: Understanding Choice 4 Part III: Growing the Economic Pie: The Economic Importance of Ethics, Well-Being, and Culture 4 Part IV: When Bubbles and Busts and Inefficiencies Are Possible: Some Behavioral Insights into the Strange World of Economic Reality 5 Part V: The Part of Tens 5 Icons Used in This Book 6 Where to Go from Here 6 Part I: Introducing Behavioral Economics: The Science of Making Real-World Choices 7 Chapter 1: Decoding Behavioral Economics 9 Making Wise Assumptions 9 Why reality matters 10 Why incentives matter — even in behavioral economics 10 Making Sense of Choice 11 Maximizing versus satisficing 11 The effect of emotions 12 The avoidance of loss 12 How options are framed 12 Paternalism versus free choice 13 The role of social context in decision making 14 Relative positioning 14 Growing the Economic Pie 15 Deciphering Bubbles and Busts 15 Inefficient markets and investment behavior 16 Emotions, intuition, animal spirits, and business cycles 16 Understanding Happiness: Money Isn’t Everything 17 Chapter 2: Getting Real about Assumptions 19 Defining an Economic Model 20 Explaining economic phenomena 21 Making simplifying assumptions 21 Discovering the irrelevance of facts 22 Understanding the role of math in model building 23 Considering cause and effect 26 Watching out for spurious correlations 26 Contemplating Conventional Economic Assumptions and Real-World Alternatives 27 Conventional assumption #1: People’s preferences are stable and consistent 27 Conventional assumption #2: People are solitary decision makers 28 Conventional assumption #3: How people form preferences doesn’t matter 28 Conventional assumption #4: People have the same preferences 29 Conventional assumption #5: People are all maximizers 30 Conventional assumption #6: People have perfect knowledge 32 Conventional assumption #7: People have unbounded computational capabilities 33 Conventional assumption #8: People have willpower 34 Conventional assumption #9: People are capable of acting upon their preferences 35 Understanding Rational Economic Behavior 36 You can do no wrong: Errors and biases in decision making 37 Selfishness and the smart society 38 Getting to Know the Behavioral Economics Actor 39 Chapter 3: Neuroeconomics: Exploring the Brain for Economic Analysis 41 Where Neuroeconomics Fits in the Behavioral Economics Perspective 43 The Brain and Economics 45 The evolution of the human brain 45 The division of labor in the human brain 48 The Emotional Brain 49 Descartes’ error: The somatic marker hypothesis 49 Phineas Gage and the social and emotional side of rational decision making 50 How Emotions Affect Decision Making 53 Fear and decision making 53 Happiness and decision making 54 The Limits of the Human Brain and Homo Economicus 54 The brain isnot a calculating machine 55 The brain isa scarce resource 55 What Brain Sciences Confirm for the Behavioral Economist 57 People prefer the present to the future 57 People’s aversion to loss affects their decision making 58 What people feel isn’t always what they experience 58 People care about keeping up with — and beating —the Joneses 60 People’s brains evolve over their lifetimes 61 People value fairness 62 People like to trust and be trusted 63 Chapter 4: Why Incentives and Markets Matter, but Money Isn’t Everything 65 The Role of Economic Incentives for Economic Behavior 66 Why money isall that matters in conventional economics 67 Opportunity costs for Homo economicus 69 Decision Making and Opportunity Costs 71 Using up your mind: Bounded rationality 71 Considering costs other than money: Psychological costs 72 Reducing opportunity costs in the real world: Satisficing behavior 73 Weighing the opportunity cost of altruism 75 Supply and Demand and Behavioral Economics 75 Introducing the bandwagon effect 76 Investigating the snob effect 77 Interjecting morals and ethics 78 Introducing sociology to supply and demand 79 Economic Psychology: How Thoughts and Feelings Impact Decisions 84 Loss aversion: How framing, ownership, and control affect economic behavior 85 How the fear of uncertainty influences decisions 85 The warm glow: Why people sacrifice money for fairness or justice 87 Forfeiting money for status 88 Part II: Understanding Choice 89 Chapter 5: Exploring the Limits to Free Choice 91 Free Choice in Economic Decision Making 92 What conventional economics says 92 What behavioral economics says 93 Revealed Preferences: When Choices Reveal Your Inner Self 94 The narrative about preferences 95 False preferences versus true preferences 96 The limits of revealed preferences and free choice 98 The Illusion of Free Choice 99 Advertising and preference distortions 99 Self-control and free choice 101 Defaults as a determinant of choice 102 Herding, the bandwagon effect, and free choice: Are followers irrational? 103 Constraining Choice versus Freedom of Choice 104 Information 104 Education 105 Consumer rights 105 Chapter 6: Quick and Simple Heuristics and Real-World Decision Making 107 A Bird’s-Eye View of Smart Decision Making in Conventional Economics 108 Decision-making norms in conventional economics: The human calculating machine 109 The optimizing decision-making machine in conventional economics 110 Core conventional benchmarks for rational choice: To dream an impossible dream 111 The limits of conventional rationality 112 Rethinking Bounded Rationality and the Limits of the Mind 113 Bounded rationality and satisficing: Rationality within reason 114 The two blades of the decision-making scissors: Ecological rationality 114 Prospect Theory: Describing Average Decision-Making Behavior 116 Introducing prospect theory: Real-world decision making under uncertainty 117 Thinking about prospect theory and conventional norms 118 Exploring emotions as a hot bed of irrationality 118 The fundamentals of prospect theory: Understanding the value function 119 Unveiling Some Implications of Loss Aversion 122 Loss aversion and the certainty effect 122 Risk seeking in losses 123 The endowment effect: Explaining attachment to possessions 124 Uncovering Errors and Biases in Decision Making 125 Overconfidence 125 Herd behavior 125 Confirmation bias 126 Anchoring 126 Generalizing 127 Less isBest in Decision-Making: Fast and Frugal Heuristics 127 Exploring the superiority of heuristics 128 Understanding human rationality: New benchmarks built on human capabilities 130 Chapter 7: How the Framing of Choices Affects Decision Making 131 The Framing Effect 131 Framing and the economic schools of thought 132 The effect of framing on preferences and choices 133 Appreciating the objective unimportance of frames: The errors and biases approach 133 Understanding frames as heuristics 134 Framing in Pictures: The Possibility of Cognitive Illusions 134 Framing the Mona Lisa 135 Distorting the line illusion 135 Framing faces 136 Framing automobiles: Surface beauty versus substance 137 The letter illusion 138 We’re All Framed: Framing and Decision Making 139 Framing and loss aversion: The classic Asian disease experiment 140 When money isn’t everything 142 Saving a penny to lose a bundle: Framing prices through relative positioning 143 Frames as Defaults: How Anchors Sway the Course of Decision Making 144 Changing default options and choices 144 Revisiting choice architecture 146 Framing isimportant, but so are income and prices 147 The Inescapable Frame and Rational Decision Making 148 Understanding frames as an information-generating machine 148 Repairing frames and rational decision making 148 Introducing product labels into the framing arsenal 149 Market Failure and the Framing Effect 149 Chapter 8: How Norms, Peers, History, and Culture Influence Choice 153 Making Decisions in a Bubble, the Conventional Economics Way 154 Making decisions as if other people don’t matter 155 Making decisions as if history doesn’t matter 155 Making decisions as if society doesn’t matter 157 Introducing Social Norms to Decision Making 157 Looking at some norms 158 Identifying how trust impacts economic development 161 Seeing how discriminating norms can lead to a slow economy 162 Studying the role of education in the formation of norms and the shaping of preferences 163 The carrot and the stick: Exploring the enforcement of social norms 163 Peer Pressure: Seeing How Peers Affect Decision Making 164 How History and Culture Affect Choice 165 Rooting choice in history 165 Culture club: How culture affects the formation of preferences and choices 166 Chapter 9: Why Gender, Children, and Age Matter for Economic Analysis 167 How Gender Affects Choice 167 Not tonight, honey: Conventional choice theory 168 Household bargaining power and women’s rights 169 Understanding household choices when women have a voice 171 Exploring population growth when women’s preferences count 172 Understanding why women go on welfare even if they want to work 174 Identifying why women are more risk averse than men 175 Exploring women’s altruistic preferences 176 Examining labor market discrimination 177 The Role of Children in Economic Decision Making 179 News Flash! Preferences Change with Age 179 Part III: Growing the Economic Pie: The Economic Importance of Ethics, Well-Being, and Culture 181 Chapter 10: Why Smart People Pay Taxes, Recycle, and Even Break the Law 183 Why Most People Pay Taxes: The Big Stick versus the Warm Glows 183 How the big stick induces tax payments 184 The niceness effect 185 Social norms and taxes 186 A sense of fairness and tax compliance 186 Different Perspectives on Reducing Pollution 187 Exploring the economics of pollution control 187 Thinking about the green corporation 188 Understanding the links between green consumption and green production 189 Studying social norms and the greening of the world 189 Understanding the mix of economic and non-economic variables in determining green production 190 Crime and Punishment 190 The calculating criminal 191 Addiction and criminal behavior 193 The role of identity and social networks in determining criminal behavior 193 Why most people don’t commit crimes even when crime pays 194 Chapter 11: Labor Supply in the Real World 197 An Introduction to Labor Supply 197 Decoding the reality of labor supply 197 Mapping out changes to labor supply 198 Uncovering what people do when they aren’t working 201 Labor Supply When People Prefer Leisure: The Conventional Economics Perspective 202 The income-leisure trade-off: Bribing people to work 203 Why economics predicts that more income reduces labor supply: Work as an inferior good 206 How to increase the labor supply when people dislike work: Using the big stick 207 How Economic Necessity, Norms, and Love of Work Determine Labor Supply 207 How target income affects labor supply 208 Why increasing income doesn’t reduce labor supply 209 Labor supply when market employment isa superior good 210 Social welfare programs and labor supply 210 Norms, anchors, default retirement age, and labor supply 213 Chapter 12: The Black Box of the Firm: Human Relationships and Productivity 215 Survival of the Fittest, the Firm, and Contemporary Economic Theory 216 Doing the best we can: From slave to free labor to the big boss 216 Determining industrial relations through market forces 217 Maximizing profits and minimizing costs in the calculating firm 218 Understanding why the behavioral firm wins out 221 When People Don’t Behave According to Conventional Economics: X-Inefficiency 221 Types of x-inefficiency 221 When product markets aren’t competitive enough 222 Increasing inefficiency, managerial slack, and the art of lobbying 223 Preferences, managerial slack, and x-inefficiency 223 How low wages produce x-inefficiency and high wages contribute to x-efficiency 224 Efficiency wages: Connecting wages, effort, and productivity 226 Exploring fairness and gift exchange inside the firm 227 Understanding the relationship between conventional, x-efficiency, and efficiency wage theories 227 Chapter 13: The Good Economy: How Ethical Behavior Can Grow the Economy 229 Ethical Behavior: An Introduction 229 The Conventional Perspective on Ethical Behavior and the Economy 231 The Good Company 233 The Compatibility between Ethics and Profits 236 Examining x-efficiency and the socially responsible firm 236 How ethical consumers sustain and grow ethical production 239 Chapter 14: Why Institutions Matter 243 What Behavioral Economics Has to Say about Institutions 244 The decision-making context 245 The theory of the firm 245 The New Institutional Economics 246 Institutions and Wealth Creation 250 Governance 251 Culture 255 Part IV: When Bubbles and Busts and Inefficiencies Are Possible: Some Behavioral Insights into the Strange World of Economic Reality 257 Chapter 15: Deciphering Behavioral Finance 259 What Behavioral Finance is259 The Efficient Asset Market Models and Their Limits 260 The efficient market hypothesis 261 The random walk hypothesis 262 Irrational Exuberance: Smells Like Animal Spirit 264 Bubbles and Busts: A Preface to Inefficient Markets 266 The Dutch tulip bulb bubble 266 Contemporary bubbles: Evidence of inefficient markets 268 The causes of financial bubbles 271 Chapter 16: Looking into Recessions and Depressions 275 Introducing Psychology in Business Cycle Narratives 276 Grasping the meaning of macroeconomics, recessions, and depressions 276 Understanding animal spirits 279 Deconstructing business cycles: The tango between psychology and “real” factors 284 Economic Psychology and Government Policy 285 How Fairness, Reciprocity, and Punishment Influence Wages, Effort, and the Business Cycle 286 How efficiency wages cause sticky wages and involuntary unemployment 287 Why businesspeople don’t like to cut wages over the business cycle 287 Insights on money illusion: Tricking workers into cutting their wages 288 Why high wages don’t necessarily cause higher unemployment 289 How unemployment undermines confidence and destroys productivity 289 Chapter 17: The Art and Science of Happiness: Can You Be Happy without More Money? 291 Happiness and Conventional Economics 291 How happiness ismeasured 292 The art of being happy 292 Why conventional economics assumes that money makes you happy 294 Diminishing returns for income and wealth 295 What increasing per-capita income ignores 295 Happiness and Behavioral Economics 296 What makes us happy: The individual versus the expert 297 Why money alone can’t make you happy (at least if you’re well off) 298 The new empirics of the happiness debate 301 What money can’t buy (at least not easily) 303 How Government Policy Affects Happiness 306 Part V: The Part of Tens 309 Chapter 18: Ten (Or So) Key Public Policy Implications of Behavioral Economics 311 Consumer Rights and Protection and the Framing of Information 312 Product Labeling and Consumer Choice 312 Financial Markets and Information Deceit 313 Saving for the Future 313 Organ Donations 314 Weakness of Will and Self-Control 315 Labor Market Regulation and Economic Efficiency 316 Big Brother and Behavioral Economics: Does Government Know Best? 316 Crime, Punishment, and Identity 317 Population Growth and the Empowerment of Women 318 Tax Compliance: The Carrot isas Important as the Stick 319 Trust and Economic Efficiency in an Imperfect World 319 Chapter 19: Ten (Or So) Experiments in Behavioral Economics 321 The Ultimatum Game: Fairness and Punishment 321 The Dictator Game: Being Fair Because It’s the Right Thing to Do 323 Fair Wage Experiments: Adventures into Labor Market Dynamics 324 Public Goods Games: Sacrificing for the Public Good 325 The Dark Side of Humanity: It Isn’t All about Lovingkindness 327 The Endowment Effect: How Ownership Affects Behavior 327 Market Games: Markets Work Even When They’re “Irrational” 329 Bubble Experiments: How Smart People Produce Economic Bubbles 330 Experiments on Bounded Rationality 331 Chapter 20: Ten Decision-Making Lessons from Behavioral Economics 333 Be Wary of Overconfidence 333 You Can’t Believe Everything You Read 334 Avoid Situations That Require More Self-Control Than You Can Muster 335 Don’t Blindly Follow the Herd 336 You Can’t Trust Everyone 336 Invest Simply 337 Pay Attention to Sample Size 337 Read the Fine Print 338 Being Nice Pays 338 Educate Yourself 339 Index 341

Read more less

Book SynopsisPerhaps no economist was more vindicated by the global financial crisis than Hyman P. Minsky (1919-96). Although a handful of economists raised alarms as early as 2000, Minsky's warnings began a half-century earlier, with writings that set out a compelling theory of financial instability. Yet even today he remains largely outside mainstream economiTrade Review"An accessible introduction to the economist who saw the global financial crisis coming."--Bookseller Buyer's Guide "Written in clear prose, with Minsky's idiosyncratic ideas and language patiently explained ... [this book] provides the best general introduction to Minsky's economics."--Edward Chancellor, Reuters Breaking Views "I came away from the book with considerably more understanding of Minsky's views and a greater respect for them."--Arnold Kling, Econlib "[A] crystal-clear summary of Minsky's life's work... While Minsky is now quite well known, his contributions are still widely ignored or misunderstood. This makes Wray's book a godsend... By making his insights accessible to a general audience for the first time, Wray's book has the potential to transform the future of economic policymaking and, with it, to create a better life for future generations."--Victoria Bateman, Times Higher Education "A useful and accessible overview of both what Minsky said and--as the title puts it--why it matters."--Diane Coyle, The Enlightened Economist blog "Why Minsky Matters ... brings together the maverick economist's work in a more accessible form."--Ishan Bakshi, Business Standard "Why Minsky Mattersserves up a rich variety of concepts that will stimulate and inform anyone concerned about the fate of the economy. If you want to know where we are going, it helps to know where we have come from, andWhy Minsky Mattersprovides an essential road map for that journey--past, present, and future."--Financial Analysts Journal "A highly readable overview of the contributions of Hyman Minsky, and justifies the title as to how Minsky matters."--Malcolm Sawyer, Journal of Economic Literature "One might think this book is a biography of the economist Hyman Minsky, but it is much more than that. In a thoroughly engaging, elucidating way, the author summarizes macroeconomic theories from Adam Smith to Keynes and the present."--Choice "A fine book that successfully brings Minsky's great contributions to our attention again. If there should be an after-life, one of its purest pleasures for me would be to have the chance to discuss monetary analysis with Hyman Minsky for a sizeable chunk of eternity. Wray's book gives a foretaste of such heavenly interaction."--Charles Goodhart, European Journal of the History of Economic ThoughtTable of ContentsPreface vii Introduction 1 1 Overview of Minsky's Main Contributions 21 2 Where Did We Go Wrong? Macroeconomics and the Road Not Taken 47 3 Minsky's Early Contributions: The Financial Instability Hypothesis 71 4 Minsky's Views on Money and Banking 87 5 Minsky's Approach to Poverty and Unemployment 109 6 Minsky and the Global Financial Crisis 137 7 Minsky and Financial Reform 163 8 Conclusion: Reforms to Promote Stability, Democracy, Security, and Equality 193 Notes 223 Further Reading 253 The Collected Writings of Hyman P. Minsky 257 Index 269

Read more less

Book SynopsisBuilding Intelligent Enterprises by leveraging the emerging and next-generation technologies to accelerate the adoption of digital transformation The speed of innovation and emerging IT technologies are changing at a very fast pace and enterprises are eager to join the digital revolution so they can stand above the competition and succeed as the enterprise of tomorrow. This book is an attempt to make the enterprise intelligent by providing the path to digital transformation and the adoption of new IT methods, tools and technologies. This book has been organized to cover the following topics: Digital Transformation, Design Thinking, Agile, DevOps, Robotic Process Automation, Internet of Things, Artificial Intelligence, Machine Learning, Blockchain, Drones, Augmented and Virtual Reality, 3D Printing, Big Data, Analytics, Cloud Computing, APIs, and SAP Leonardo. No prior knowledge of any technical coding or language is necessary to understand the content of this boTable of ContentsPreface xi About this Book xiii Acknowledgments xix Part I—Introduction 1 Chapter 1 Digital Transformation 3 Digital Transformation 3 Digital Transformation Impact 8 Value Drivers 9 Digital Implementation Methodology 10 Emerging Technology Heatmap 13 Emerging Digital Themes by Industry 15 Conclusion 26 Part II—Collaborative Methods and Tools 27 Chapter 2 Design Thinking 29 Design Thinking Overview 29 Design Thinking Methodology 31 Tools and Techniques 35 Use Cases 41 Conclusion 43 Chapter 3 Agile 45 Agile Overview 45 Agile Methodology 48 Agile Tools 49 Conclusion 51 Chapter 4 DevOps 53 DevOps Overview 53 DevOps Enterprise Maturity 56 DevOps Enablers 57 Adoption by Industry 59 Use Cases 62 Conclusion 63 Part III—Intelligent Technologies 65 Chapter 5 Robotic Process Automation 67 Robotic Process Automation (RPA) Overview 67 Automation Capabilities 69 Enterprise RPA Architecture 74 Enterprise RPA Model 76 Enterprise RPA Implementation Methodology 78 Potential Automation Opportunities 81 RPA Opportunities by Industry 82 RPA Opportunities by Function 89 Use Cases 96 Conclusion 98 Chapter 6 Internet of Things 99 Internet of Things Overview 99 Understanding IoT Architecture 105 IoT Implementation Methodology 119 New Era with Connected Devices 121 IoT Applications by Industry 129 Use Cases 135 Conclusion 139 Chapter 7 Artificial Intelligence 141 Artificial Intelligence (AI) Overview 141 AI Capabilities 147 Enterprise AI Architecture 154 Enterprise AI Implementation Methodology 157 Potential AI Opportunities 160 AI Opportunities by Industry 161 AI Opportunities by Functional Area 171 Use Cases 175 Conclusion 178 Chapter 8 Machine Learning 179 Machine Learning Overview 179 Machine Learning Algorithms 182 Enterprise Machine Learning Model 183 Machine Learning Implementation Methodology 184 Machine Learning Solutions by Industry 186 Use Cases 187 Conclusion 189 Chapter 9 Blockchain 191 Blockchain Overview 191 Understanding Blockchain Architecture 197 Smart Contracts in Blockchain 204 Blockchain Execution Roadmap 205 Blockchain Security 207 Challenges of Blockchain-enabled Transformation 209 Applications of Blockchain 209 Use Cases of Blockchain 211 Key Players 218 Conclusion 219 Chapter 10 Drones 221 Drones Overview 221 Drones as Data Collector 224 Risk Considerations 225 Drone Applications 226 Opportunities by Industry 227 Use Cases 232 Conclusion 233 Chapter 11 Virtual Reality 235 Augmented and Virtual Reality Overview 235 AR and VR in the Current Ecosystem 237 Understanding AR/VR Architecture 237 Platform 248 Security and Privacy 249 Opportunities by Industry 251 Use Cases 257 Conclusion 258 Chapter 12 3D Printing 259 3D Printing Overview 259 Methodology 262 Use Cases 263 Conclusion 265 Chapter 13 Big Data 267 Big Data Overview 267 Big Data Technology 273 Understanding Big Data Architecture 278 Big Data Opportunities by Industry 285 Use Cases 285 Conclusion 290 Chapter 14 Analytics 291 Analytics Overview 291 Analytics Components 294 Analytics Methodology 294 Analytics Techniques 296 Use Cases 301 Conclusion 303 Part IV—Digital Infrastructure 305 Chapter 15 Cloud Computing 307 Cloud Overview 307 Enterprise Cloud Transformation Methodology 319 Enterprise Cloud Migration Framework 322 Enterprise Strategy and Roadmap to Cloud 324 Enterprise Migration Path to Cloud 327 Key Cost Drivers 330 Enterprise Transformation to the Cloud 332 Enterprise Cloud Management and Optimization 336 Use Cases 339 Conclusion 342 Chapter 16 APIs 343 API Overview 343 API Architecture 345 API Business Strategy 347 API Life Cycle and Roadmap 349 Conclusion 352 Part V—Product Review 353 Chapter 17 SAP Leonardo 355 SAP S/4HANA ERP Overview 355 Understanding SAP Leonardo 356 SAP Leonardo Internet of Things 357 SAP Leonardo Machine Learning 362 SAP Leonardo Blockchain 366 SAP Leonardo Big Data 367 SAP Leonardo Data Intelligence 368 SAP Leonardo Analytics 368 SAP Leonardo Enterprise Engagement 369 Conclusion 371 About the Author 373 Index 375

Read more less

Book SynopsisTrade Review"Just when U.S. regulators and lenders are showing signs of forgetting the lessons of the 2008 financial crisis, Richard Vague comes out with this timely treatise on the dangers of excessive private debt. Deeply researched yet easily understandable, it's must-reading for anyone who wants to understand the financial crises of the past-and anticipate the catastrophes of the future." * Rich Miller, Bloomberg News *"Richard Vague unmasks a very important insight that financial crises throughout history have originated in bubble formation in the private sector. This diagnosis presents a huge challenge to the political system regarding how to implement the preventative medicine to impede bubbles. The stakes are high for preventing prolonged economic downturns, and the impotence of the public sector is devastating to the reputation of experts and governance, not only in the financial sector but across every division of government. The demoralization on both the left and right after the Great Financial Crisis remains a major contributor to the politics of today. Vague challenges us to face up to these costs." * Robert Johnson, Institute for New Economic Thinking *"Debt is always the biggest indicator of where financial crises will strike next. But while most people focus on government debt, private debt has been overlooked as a risk factor. Richard Vague rectifies that problem-and given that corporate debt is now at record highs-there couldn't be a better time to read his book." * Rana Foroohar, Financial Times *"Debt booms are the Achilles heel of modern economies, and nobody understands this better than Richard Vague. It takes a former banker to expose the folly of lenders in fueling credit booms that lead to devastating financial crises. In his sweeping account of 200 years of financial history, Vague builds on his intimate understanding of banking to explain how private debt booms put economic and social prosperity at risk. This is a must read for anyone who wants to see the next crisis coming." * Moritz Schularick, University of Bonn *

Read more less

Book SynopsisA Financial Times Economics Book of the Year A brilliant narrative of early capitalism's most famous scandal, a speculative frenzy that nearly bankrupted the British state during the hot summer of 1720 – and paradoxically led to the birth of modern finance. The South Sea Company was formed to trade with Asian and Latin American countries. But it had almost no ships and did precious little trade. Instead it got into financial fraud on a massive scale, taking over the government's debt and promising to pay the state out of the money received from the shares it sold. And how they sold. In the summer of 1720 the share price rocketed and everyone was making money. Until the carousel stopped, and thousands lost their shirts. Isaac Newton, Alexander Pope and others lost heavily. Thomas Levenson's superb account of the South Sea Bubble is not just the story of a huge scam, but is also the story of the birth of modern financial capitalism: the idea that you can invest in future prosperity and that governments can borrow money to make things happen, like funding the rise of British naval and mercantile power. These dreamers and fraudsters may have bankrupted Britain, but they made the world rich. Praise for Money For Nothing: 'A scholar who makes complicated and subtle matters not just accessible but fun. Utterly relevant to the 2008 financial crisis and 2020 pandemic' SIMON SEBAG MONTEFIORE 'Thoroughly researched and vibrantly written, Money For Nothing captures those heady, heartbreaking times, which still hold lessons for today' DAVID KAISER 'A gripping story of scientists and swindlers, all too pertinent to our modern world' JAMES GLEICK 'It's easy to look back and think of the South Sea bubblers, like the tulip-mad Dutch of the 1630s, as financially naive – until you remember how many people jumped in on various other more recent crazes (from Beanie Babies to Pets.com and Bitcoin). This is not a new tale, but Levenson tells it with a light touch' SPECTATORTrade ReviewSuperb, fascinating and totally timely, Money for Nothing is a gripping history of the South Sea Bubble by a scholar who makes complicated and subtle matters not just accessible but fun – the story of a world crisis with a flashy cast of grifters, scientists, politicians and charlatans that Levenson makes utterly relevant to the 2008 financial crisis and 2020 pandemic. Essential reading -- Simon Sebag MontefioreDoes a stockmarket crash and a plague sound somehow familiar? Leverson's new book is proof – very cleverly told – of how enlightening history can be. There is no excuse not to learn from the past -- Andrea WulfInspired by Isaac Newton's example, clever schemers sought to conquer the chaos of human affairs by abstracting financial value from tangible goods. Their calculations unleashed the notorious South Sea Bubble, which destroyed fortunes and roiled nations. Thoroughly researched and vibrantly written, Money for Nothing captures those heady, heartbreaking times, which still hold lessons for today -- David KaiserThomas Levenson is a brilliant synthesizer with a grand view of history. Here is the birth of modern finance amid catastrophe and fraud – a gripping story of scientists and swindlers, all too pertinent to our modern world -- James GleickA brilliant history of the South Sea Bubble, an astounding episode from the early days of financial markets that to this day continues to intrigue and perplex historians. Deeply researched and featuring a colorful cast of characters out of 18th century England – mathematical geniuses, unscrupulous financiers, greedy aristocrats, venal politicians – Money for Nothing is narrative history at its best, lively and fresh with new insights -- Liaquat AhamedThis erudite and entertaining history offers a fresh take on high finance * Publishers Weekly *An enthralling account of an economic revolution that emerged from a scandal * Kirkus Reviews *Levenson is very fluent in his descriptions... This is not a new tale, but Levenson tells it with a light touch' * Spectator *The book has helped me better understand a number of different institutions... If you want an embarkation point from which to understand the history of the City of London as a financial rather than simply mercantile or population centre then this book is a useful one, and one to whet your appetite' * London Historian's Blog. *A vivid account of the development of share trading in the coffee shops of Exchange Alley in the City, with fascinating asides such as Newton's extraordinarily modern management techniques when running the Royal Mint... A compelling read' * Financial Times. *Levenson is a talented writer * Money Week *A beautifully written account of the seminal bubble of capitalism * Financial Times *Levenson is a talented writer who does a good job explaining the complicated nature of the South Sea Company and how it paradoxically saved the British state from bankruptcy * Money Week *Levenson explored the murky tale in a wide ranging study of political intrigue, cultural attitudes and – his strength as a historian of science – the emergence of mathematical reasoning about the value of assets * BBC History Magazine *Levenson is very good on the deep history of the bubble... Building on recent scholarship and especially the work of his MIT colleague William Deringer, Levenson proposes instead that we see the era's scientific accomplishments and speculative bubbles as equal manifestations of a newly mathematical way of knowing and being' * TLS *

Read more less

Book SynopsisThis powerful book shows how poor countries can ignite growth without waitingfor global action or the creation of ideal local conditions.Trade Review"Shortlisted for the 2018 Africa-Asia ICAS Book Prize, International Convention of Asia Scholars and Association for Asian Studies in Africa"

Read more less

Book SynopsisAs a leader, do you feel you face a straight choice between high performance versus wellbeing?Strategic resilience allows you to achieve both, without compromise.At The Resilience Engine, we believe that everyone deserves to perform well without compromising their wellbeing. We know our approach works because it’s backed up by ten years of research and experience with thousands of clients in over 75 organisations. The Resilience Dynamic® illustrates, with practical tools, how to develop resilience as a buffer to stress and how it can transform how you lead change and increase performance in a complex and uncertain world.Trade ReviewJenny makes the case for building your resilience to adapt to change and be able to thrive. Not just a book about coping or bounceback; its about what happens as our resilience diminishes as much as its about how to stay highly resilient in life.It is a highly accessible book and one which is supported by case studies and research. * amazon.co.uk *Jenny's fabulous book clearly describes how to understand and enhance your levels of resilience and wellbeing. Full of examples and relatable case studies, Jenny busts the myths about being resilient, and provides proven and practical ways to create a Resilient Way. * amazon.co.uk *A book whose time has come ! Business world is seized with changing business model , new international equations, digital transformation, AI and automation. This calls for adaptation and resilience to survive. This also has profound implications on personal lives and relationships. This book gives both a perspective and framework to cope. Well done Jenny !!! * amazon.co.uk *At last a book which provides a practical, step by step approach to building ones own resilience, as well as supporting teams, friends and family through theirs. Guidance is based in research and real life examples, making it a cut above the theoretical advise that can be found on the internet.Invest! * amazon.co.uk *A must read for anyone interested in Resilience. Research and practice based material that brings the often complex nature of resilience into a straightforward and practical model. It will yield results for people who are starting out and the seasoned professional coach. * amazon.co.uk *

Read more less

Book Synopsis

Read more less

Book SynopsisThe Soulful Art of Persuasion is a revolutionary guide to becoming a master influencer in an age of distrust through the cultivation of character-building habits that are essential to both personal growth and sustained business success. This isn't a book full of tips and life-hacks. Instead, The Soulful Art of Persuasion will develop the habits that others want to be influenced by. This book is based on a radical idea: Persuasion isn't about facts and argument. It's all about personal character.Jason Harris, CEO of the powerhouse creative agency Mekanism, argues that genuine persuasion in the twenty-first century is about developing character rather than relying on the easy tactics of flattery, manipulation, and short-term gains. It is about engaging rather than insisting; it is about developing empathy and communicating your values. Based on his experience in and out of the boardroom, and drawing on the latest in-depth research on trust, influence, and habit formation, Harris shows that being persuasive in a culture plagued by deception means rejecting the ethos of the quick and embracing the commitment of putting your truest self forward and playing the long game. Through instructive and entertaining stories, Harris lays out the 11 habits that will guide readers to become authentically persuasive, including Earning respect through collaboration Becoming the person others want to be around Practicing generosity through gestures big and smallPersuasion today is about personal excellence, sharing the stage, and respecting other people's motivations. In The Soulful Art of Persuasion, Jason Harris shows us the way.Trade ReviewNobody knows more about the art of selling ideas than Jason Harris. This book is a peek inside the mind that some of the biggest companies in the world rely on to launch their products. And now anyone can apply these principles. Read it. -- Ryan Holiday, New York Times bestselling author of The Obstacle Is the Way and Ego Is the EnemyI've seen firsthand how the successful application of these tools can be truly transformative. These habit-forming lessons flat-out work, and this book will be your new secret weapon. -- John Foley, founder and CEO of Peloton"The Soulful Art of Persuasion isn't about winning. It is focused on building relationships, blending appreciation and collaboration to ensure success. It's a business book about Karma, and as you give, you will receive." - Dave Stever, CMO, Ben & Jerry's

Read more less

Book Synopsis''Refreshingly clear and engaging'' Tim Harford''Delightful . . . full of unique insights'' Prof Sir David SpiegelhalterThere''s no getting away from statistics. We encounter them every day. We are all users of statistics whether we like it or not.Do missed appointments really cost the NHS 1bn per year?What''s the difference between the mean gender pay gap and the median gender pay gap?How can we work out if a claim that we use 42 billion single-use plastic straws per year in the UK is accurate?What did the Vote Leave campaign''s 350m bus really mean?How can we tell if the headline ''Public pensions cost you 4,000 a year'' is correct?Does snow really cost the UK economy 1bn per day?But how do we distinguish statistical fact from fiction? What can we do to decide whether a number, claim or news story is accurate? Without an understanding of data, we cannot truly understand what is going on in the woTrade ReviewFascinating . . . timely . . . a lovely humorous undercurrent to it all -- Marcus Berkmann * Daily Mail *A refreshingly clear and engaging guide to the statistical claims all around us * Tim Harford, author of Fifty Things That Made The Modern Economy & Presenter of BBC More or Less *Having spent his journalistic career working in a newsroom, being inundated with press releases full with dodgy statistics, Reuben has learned all the ways in which numbers can tell a misleading story. In this delightful book, full of unique insights from personal experience, he warns us of the phrases to look out for, and all the questions to ask about shabby surveys and dubious economic forecasts - there's also a great chapter on how to interpret big numbers. And he advises that we all ask the big question - is this number reasonably likely to be true? * Prof Sir David Spiegelhalter *Statistics can clarify or confuse. That's why you need to read this book * John Humphrys *

Read more less

Book SynopsisA sweeping history of the full range of human labor Few authors are able to write cogently in both the scientific and the economic spheres. Even fewer possess the intellectual scope needed to address science and economics at a macro as well as a micro level. But Paul Cockshott, using the dual lenses of Marxist economics and technological advance, has managed to pull off a stunningly acute critical perspective of human history, from pre-agricultural societies to the present. In How the World Works, Cockshott connects scientific, economic, and societal strands to produce a sweeping and detailed work of historical analysis. This book will astound readers of all backgrounds and ages; it will also will engage scholars of history, science, and economics for years to come.

Read more less

Book SynopsisThe complexity and relentless pace of our world places exceptional demands on leaders today. They work incredibly hard and yet feel that they are not meeting their own expectations of excellence. They feel disconnected from their own values and overburdened. By the thousands, they seek out books on leadership skills, time management, and "getting things done," but the techniques these volumes offer, useful as they are, often don't speak to the leader's fundamental sense that something is missing. Janice Marturano, a senior executive with decades of experience in Fortune 500 corporations, explains how Mindful Leadership training integrates the practice of mindfulness--meditation and self-awareness--with the practical tools of management, enabling leaders to bring a wider range of their capacities to the challenges at hand. We already know from scientific research that mindfulness practices enhance mental health and improve clarity and focus. Finding the Space to Lead shows how this training has specific value for leaders. This is not a new "leadership system" to add to the burden of already overworked people. It brings the concepts of mindfulness into the everyday life of anyone in a leadership role, through specific exercises that address practical issues--the calendar, schedule, phone usage, meetings, to-do list, and strategic planning, as well as interpersonal challenges such as listening and working with difficult colleagues. Leaders who have experienced mindfulness training report that it provides a "transformative experience" with significant improvements in innovation, self-awareness, listening, and making better decisions. In Finding the Space to Lead, Marturano masterfully lays out her proven techniques for promoting mindfulness in the busy executive''s working life.

Read more less

Book Synopsis

Read more less

Book SynopsisTable of ContentsAcknowledgments ix Foreword xv Preface xvii Introduction xix Part One Investing in Credit vs. Investing in a Combination of Treasuries and Equities Chapter 1 Can a Combination of Treasuries and Equities Replace Credit in a Portfolio? 3 Part Two Capitalizing on Index Inefficiencies Fallen Angels: Index Liquidation Chapter 2 Fallen Angels: Characteristics, Performance, and Implications for Investors 81 Chapter 3 Fallen Angels: Capacity, Transaction Costs, and the Bond-CDS Basis 127 Chapter 4 Introducing the Fallen Angel Reversal Scorecard 163 New Issuance: Index Inclusion Chapter 5 Issuance Dynamics and Performance of Corporate Bonds 191 Chapter 6 The Value of Waiting to Buy: Inclusion-Delay Investment-Grade Corporate Indices 215 Chapter 7 Concessions in Corporate Bond Issuance: Magnitude, Determinants, and Post-Issuance Dynamics 239 Performance Cost of Investment Constraints Chapter 8 “Try-and-Hold” Credit Investing 265 Chapter 9 Effect of Rating-Based Stop-Loss Rules on Performance 303 Part Three Performance Implications of Portfolio Characteristics Chapter 10 Coupon Effects in Corporate Bonds: Pricing, Empirical Duration, and Spread Convexity 333 Chapter 11 Maturity Dependence of Corporate Bond Excess Returns 355 Chapter 12 ESG Investing in Credit 369 Part Four Factor Investing in Credit Value Investing Chapter 13 Relative Value Investing in Credit Using Excess Spread to Peers 413 Chapter 14 Long-Horizon Value Investing in Credit Using Spread per Unit of Debt-to-Earnings Ratio 435 Momentum Investing Chapter 15 Equity Momentum in Credit 483 Chapter 16 Corporate Sector Timing Using Equity Momentum 515 Size Effect Chapter 17 Issuer Size Premium in Credit Markets 527 Combining Factor Strategies Chapter 18 Integrating Systematic Strategies into Credit Portfolio Construction 563 Chapter 19 OneScore: Combining Quantitative and Fundamental Views in Credit 597 Part Five Using Equity-Related Data, Dynamics, and Instruments Chapter 20 Does the Post-Earnings-Announcement-Drift Extend to Credit Markets? 613 Chapter 21 Equity Short Interest as a Signal for Credit Investing 653 Index 691

Read more less

Book Synopsis

Read more less

Book SynopsisFormer IBM CTO Mark Minevich discusses critical technology management issues for CTOs, with insights and best practices from global C-Level leaders. Topics include strategic roles, privacy, offshore outsourcing, project execution, technology alignment, future technologies, leadership, risk-taking, and risk management.

Read more less