Business, Finance & Law Books

Book SynopsisTrade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field and prepares students to undertake their own research. In Advanced International Trade, Robert Feenstra integrates the most current theoretical approacTrade ReviewPraise for the previous editon: "No other book in advanced international trade matches this one in providing a clear, complete, up-to-date, balanced, and systematic summary of international trade theory and evidence. Its impact on the graduate education and scholarly research of international trade will be felt for years to come."—Bin Xu, University of FloridaPraise for the previous editon: "In fifteen years of teaching this material I have never used a textbook. Thanks to Robert Feenstra, my students are about to experience a dramatic change for the better. When I have a question about international trade I immediately turn to Rob Feenstra for answers and insights. He is the most distinguished empirical researcher in the field today. Not surprisingly, this book reflects both his awesome scholarship and his ability to communicate ideas simply."—Daniel Trefler, University of TorontoPraise for the previous editon: "This book is a tremendous contribution. It will quickly become 'the' main textbook in graduate international trade classes, and will be a useful reference for many others interested in the field. It is very up-to-date and is unique in emphasizing empirical testing and results, precisely what most trade economists are doing these days."—Douglas Irwin, Dartmouth College, author of Free Trade Under FirePraise for the previous editon: "Feenstra covers his topics fabulously. I hope—for the sake of our field—that this book will help to complete a revolution already underway in turning the study of international trade from speculation into a science."—Donald Davis, Columbia UniversityPraise for the previous editon: "Robert Feenstra is to be congratulated on producing this excellent book, which should be on the bookshelf of anyone interested in trade theory and empirical research on international trade."—Sisira Jayasuriya, Economic RecordTable of ContentsAcknowledgments ix Foreword to the Second Edition xi Chapter 1 Preliminaries: Two-Sector Models 1 Chapter 2 The Heckscher-Ohlin Model 25 Chapter 3 Many Goods and Factors 51 Chapter 4 Trade in Intermediate Inputs and Wages 83 Chapter 5 Monopolistic Competition and the Gravity Equation I 119 Chapter 6 Monopolistic Competition and the Gravity Equation II 155 Chapter 7 Gains from Trade and Regional Agreements 186 Chapter 8 Import Tariffs and Dumping 214 Chapter 9 Import Quotas and Export Subsidies 256 Chapter 10 Political Economy of Trade Policy 299 Chapter 11 Trade and Endogenous Growth 331 Chapter 12 Multinationals and Organization of the Firm 360 Appendix A Price, Productivity, and Terms of Trade Indexes 403 Appendix B Discrete Choice Models 419 References 431 Index 465

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Book SynopsisSuitable for doctoral students and researchers, this book talks about the theory of asset pricing and portfolio selection in multiperiod settings under uncertainty. The asset pricing results are based on the three restrictive assumptions: absence of arbitrage, single-agent optimality, and equilibrium.Trade Review"This is an important addition to the set of text/reference books on asset pricing theory. It will, if it has not already, become the standard text for the second Ph.D. course in security markets. Its treatment of contingent claim valuation, in particular, is unrivaled in its breadth and coherence."--Journal of Economic LiteratureTable of ContentsPreface xiii PART I DISCRETE-TIME MODELS 1 1. Introduction to State Pricing 3 A. Arbitrage and State Prices 3 B. Risk-Neutral Probabilities 4 C. Optimality and Asset Pricing 5 D. Efficiency and Complete Markets 8 E. Optimality and Representative Agents 8 F. State-Price Beta Models 11 Exercises 12 Notes 17 2. The Basic Multiperiod Model 21 A. Uncertainty 21 B Security Markets 22 C. Arbitrage, State Prices, and Martingales 22 D. Individual Agent Optimality 24 E. Equilibrium and Pareto Optimality 26 F. Equilibrium Asset Pricing 27 G. Arbitrage and Martingale Measures 28 H. Valuation of Redundant Securities 30 I. American Exercise Policies and Valuation 31 J. Is Early Exercise Optimal? 35 Exercises 37 Notes 45 3 The Dynamic Programming Approach 49 A. The Bellman Approach 49 B. First-Order Bellman Conditions 50 C. Markov Uncertainty .51 D. Markov Asset Pricing 52 E. Security Pricing by Markov Control 52 F. Markov Arbitrage-Free Valuation 55 G Early Exercise and Optimal Stopping 56 Exercises 58 Notes 63 4. The Infinite-Horizon Setting 65 A. Markov Dynamic Programming .65 B. Dynamic Programming and Equilibrium.69 C. Arbitrage and State Prices 70 D. Optimality and State Prices.71 E. Method-of-Moments Estimation .73 Exercises 76 Notes 78 PART 11 CONTINUOUS-TIME MODELS 81 5. The Black-Scholes Model 83 A. Trading Gains for Brownian Prices 83 B. Martingale Trading Gains 85 C. Ito Prices and Gains 86 D. Ito's Formula 87 E. The Black-Scholes Option-Pricing Formula 88 F. Black-Scholes Formula: First Try 90 G. The PDE for Arbitrage-Free Prices 92 H. The Feynman-Kac Solution 93 I. The Multidimensional Case 94 Exercises 97 Notes 100 6. State Prices and Equivalent Martingale Measures 101 A. Arbitrage 101 B. Numeraire Invariance 102 C. State Prices and Doubling Strategies 103 D. Expected Rates of Return 106 E. Equivalent Martingale Measures 108 F. State Prices and Martingale Measures 110 G. Girsanov and Market Prices of Risk 111 H. Black-Scholes Again 115 I. Complete Markets 116 J. Redundant Security Pricing 119 K. Martingale Measures from No Arbitrage 120 L. Arbitrage Pricing with Dividends 123 M. Lumpy Dividends and Term Structures 125 N. Martingale Measures, Infinite Horizon 127 Exercises 128 Notes 131 7. Term-Structure Models 135 A. The Term Structure 136 B. One-Factor Term-Structure Models 137 C. The Gaussian Single-Factor Models 139 D. The Cox-Ingersoll-Ross Model 141 E. The Affine Single-Factor Models 142 F. Term-Structure Derivatives 144 G. The Fundamental Solution 146 H. Multifactor Models 148 1. Affine Term-Structure Models 149 J. The HJM Model of Forward Rates 151 K. Markovian Yield Curves and SPDEs 154 Exercises 155 Notes 161 8. Derivative Pricing 167 A. Martingale Measures in a Black Box 167 B. Forward Prices 169 C. Futures and Continuous Resettlement 171 D. Arbitrage-Free Futures Prices 172 E. Stochastic Volatility 174 F. Option Valuation by Transform Analysis 178 G. American Security Valuation 182 H. American Exercise Boundaries 186 1. Lookback Options 189 Exercises 191 Notes 196 9. Portfolio and Consumption Choice 203 A. Stochastic Control 203 B. Merton's Problem 206 C. Solution to Merton's Problem 209 D. The Infinite-Horizon Case 213 E. The Martingale Formulation 214 F. Martingale Solution 217 G. A Generalization 220 H. The Utility-Gradient Approach 221 Exercises 224 Notes 232 10. Equilibrium 235 A. The Primitives 235 B. Security-Spot Market Equilibrium 236 C. Arrow-Debreu Equilibrium 237 D. Implementing Arrow-Debreu Equilibrium 238 E. Real Security Prices 240 F. Optimality with Additive Utility 241 G. Equilibrium with Additive Utility 243 H. The Consumption-Based CAPM 245 I. The CIR Term Structure 246 J. The CCAPM in Incomplete Markets 249 Exercises 251 Notes 255 11. Corporate Securities 259 A. The Black-Scholes-Merton Model 259 B. Endogenous Default Timing 262 C. Example: Brownian Dividend Growth 264 D. Taxes and Bankruptcy Costs 268 E. Endogenous Capital Structure 269 F. Technology Choice 271 G. Other Market Imperfections 272 H. Intensity-Based Modeling of Default 274 I. Risk-Neutral Intensity Process 277 J. Zero-Recovery Bond Pricing 278 K. Pricing with Recovery at Default 280 L. Default-Adjusted Short Rate 281 Exercises 282 Notes 288 12. Numerical Methods 293 A. Central Limit Theorems 293 B. Binomial to Black-Scholes 294 C. Binomial Convergence for Unbounded Derivative Payoffs 297 D. Discretization of Asset Price Processes 297 E. Monte Carlo Simulation 299 F. Efficient SDE Simulation 300 G. Applying Feynman-Kac 302 H. Finite-Difference Methods 302 I. Term-Structure Example 306 J. Finite-Difference Algorithms with Early Exercise Options 309 K. The Numerical Solution of State Prices 310 L. Numerical Solution of the Pricing Semi-Group 313 M. Fitting the Initial Term Structure 314 Exercises 316 Notes 317 APPENDIXES 321 A. Finite-State Probability 323 B. Separating Hyperplanes and Optimality 326 C. Probability 329 D. Stochastic Integration 334 E. SDE, PDE, and Feynman-Kac 340 F. Ito's Formula with jumps 347 G. Utility Gradients 351 H. Ito's Formula for Complex Functions 355 I. Counting Processes 357 J. Finite-Difference Code 363 Bibliography 373 Symbol Glossary 445 Author Index 447 Subject Index 457

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Book Synopsis'We must reject the idea - well-intentioned, but dead wrong - that the primary path to greatness in the social sectors is to become "more like a business".' So begins this astonishingly blunt and timely manifesto by leading business thinker Jim Collins. Rejecting the belief, common among politicians, that all would be well in society if only the public sector operated more like the private sector, he sets out a radically new approach to creating successful hospitals, police forces, universities, charities, and other non-profit-making organisations. In the process he rejects many deep-rooted assumptions: that somehow it's possible to measure social bodies in purely financial terms; that they can be managed like traditional businesses; that they can be transformed simply by throwing money at them. Instead he argues for radical new attitudes and strategies, using the analytical approach and clear thinking that lie at the heart of Good to Great.

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Book SynopsisElizabeth Harrin has over 20 years' experience in project roles across financial services and healthcare and currently works as a senior project manager. She is the founder of the award-wining website, Rebel's Guide to Project Management which provides training, education and mentorship to project managers and also runs the project management community, Project Management Rebels. She is based in Brighton, UK.

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Book SynopsisA map for a new kind of leadership the world sorely needs - leaders who lead from a deeper place. Leaders who strive to lead True, Brave, Kind and Curious. Practical and focused, Martin provides tools that can grow the reader into a leader who not only succeeds within their current context, but might even 'fix the character of their times.'

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Book SynopsisOutlines a systematic framework for enabling greater productivity without overworking, sharing strategies on how to eliminate unnecessary tasks while streamlining essential employee functions. By the co-author of the best-selling Multipliers. 75,000 first printing.

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Book SynopsisJo Owen is a best-selling and multi-award-winning leadership author, keynote speaker and social entrepreneur. He is a founder of eight charities, including Teach First. His books The Mindset of Success, Myths of Leadership and The Leadership Skills Handbook also published by Kogan Page, have been translated into eight different languages. Jo Owen is the first person to win the Chartered Institute of Management Gold Award four times for four of his books. He is based in London UK.

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Book SynopsisJulie Hodges is a leading expert on change in organizations and is a Professor of Organizational Change at Durham University Business School, UK. She worked as a business consultant for over 20 years in several organizations including PwC, Vertex and the UK British Council. She is an Academic Fellow of the International Council of Management Consulting Institutes (ICMCI), a Principal Fellow of the Higher Education Academy and a Senior Fellow of the Foundation for Management Education (FME). She is the author of People-Centric Organizational Change and Consulting, Organization Development and Change, both published by Kogan Page.

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Book SynopsisErik du Plessis is Chairman of Millward Brown (South Africa), one of the world's top market research companies with 78 offices in 51 countries. He is also a Visiting Professor at the Copenhagen Business School, and the author of The Advertised Mind, published by Kogan Page.Table of Contents Section - ONE: What it is all about; Chapter - 01: Introduction; Chapter - 02: This book is about the consumer’s brain; Chapter - 03: The new paradigm; Chapter - 04: The brain – the coming together of disciplines; Section - TWO: The decision-making puzzle; Chapter - 05: Interpretation, memory, experience, learning; Chapter - 06: Introducing the rat brain robot; Chapter - 07: Feelings; Chapter - 08: The ‘feeling’ brain systems and how they work; Chapter - 09: The environmental awareness system: emotions; Chapter - 10: The ‘state of body’ system: homeostasis; Chapter - 11: The ‘state of mind’ system, or moods and arousal; Chapter - 12: The evaluation system: pleasure; Chapter - 13: Personality; Chapter - 14: Social systems and culture; Chapter - 15: Gender differences; Chapter - 16: Let’s put it all together; Chapter - 17: Measuring the brain; Chapter - 18: Increasing our brainpower – using neuroscience effectively by Graham Page; Section - THREE: Creating mischief; Chapter - 19: On creating mischief; Chapter - 20: Buy-ology; Chapter - 21: The elusive subconscious; Section - FOUR: Towards insights; Chapter - 22: Read Montague’s Pepsi Challenge; Chapter - 23: Science: models and measurements; Section - FIVE: Some marketing implications; Chapter - 24: Attention; Chapter - 25: The brand soma; Chapter - 26: Consumer decision making as heuristics; Chapter - 27: Market segmentation; Chapter - 28: Advertising budget, brand life cycle, synapses and brand soma; Section - SIX: My conclusions; Chapter - 29: What this was all about; Chapter - 30: Is the future what it was?

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Book SynopsisWritten during the winter of 1857-8, the Grundrisse was considered by Marx to be the first scientific elaboration of communist theory. A collection of seven notebooks on capital and money, it both develops the arguments outlined in the Communist Manifesto (1848) and explores the themes and theses that were to dominate his great later work Capital. Here, for the first time, Marx set out his own version of Hegel''s dialectics and developed his mature views on labour, surplus value and profit, offering many fresh insights into alienation, automation and the dangers of capitalist society. Yet while the theories in Grundrisse make it a vital precursor to Capital, it also provides invaluable descriptions of Marx''s wider-ranging philosophy, making it a unique insight into his beliefs and hopes for the foundation of a communist state.Table of ContentsIntroduction (Notebook M)1. Production in general2. General relation between production, distribution, exchange and consumption3. The method of political economy4. Means (forces) of production and relations of production, relations of production and relations of circulationThe Chapter on Money (Notebooks I and II, pp. 1-7)Darimon's theory of crisesGold export and crisesConvertibility and note circulationValue and priceTransformation of the commodity into exchange value; moneyContradictions in the money relation:(1) Contradiction between commodity as product and commodity as exchange value(2) Contradiction between purchase and sale(3) Contradiction between exchange for the sake of exchange and exchange for the sake of commodities(4) Contradiction between money as particular commodity and money as general commodity (The Economist and the Morning Star on money)Attempts to overcome the contradictions by the issue of time-chitsExchange value as mediation of private interestsExchange value (money) as social bondSocial relations which create an undeveloped system of exchangeThe product becomes a commodity; the commodity becomes exchange value; the exchange value of the commodity becomes moneyMoney as measureMoney as objectification of general labour time (Incidental remark on gold and silver)Distinction between particular labor time and general labour timeDistinction between planned distribution of labour time and measurement of exchange values by labour time (Strabo on money among the Albanians)The precious metals as subjects of the money relation:(a) Gold and silver in relation to the other metals(b) Fluctuations in the value-relations between the different metals(c) and (d) (headings only): Sources of gold and silver; money as coinCirculation of money and opposite circulation of commoditiesGeneral concept of circulation:(a) Circulation circulates exchange values in the form of prices (Distinction between real money and accounting money)(b) Money as the medium of exchange (What determines the quantity of money required for circulation) (Comment on (a))Commodity circulation requires appropriation through alienationCirculation as an endlessly repeated processThe price as external to and independent of the commodity: Creation of general medium of exchange; exchange as a special businessDouble motion of circulation: C-M; M-C, and M-C; C-MThree contradictory functions of money:(1) Money as general material of contracts, as measuring unit of exchange values(2) Money as medium of exchange and realizer of prices(Money, as representative of price, allows commodities to be exchanged at equivalent prices)(An example of confusion between the contradictory functions of money)(Money as particular commodity and money as general commodity)(3) Money as money: as material representative of wealth (accumulation of money)(Dissolution of ancient communities through money)(Money, unlike coin, has a universal character)(Money in its third function is the negation #negative unity# of its character as medium of circulation and measure)(Money in its metallic being; accumulation of gold and silver)(Headings on money, to be elaborated later)The Chapter on Capital (Notebooks II pp. 8-28, III, IV, V, VI and VII)The Chapter on Money as Capital:Difficulty in grasping money in its fully developed character as moneySimple exchange: relations between the exchangers (Critique of socialists and harmonizers: Bastiat, Proudhon)Section One: The Production Process of CapitalNothing is expressed when capital is characterized merely as a sum of valuesLanded property and capitalCapital comes from circulation; its content is exchange value; merchant capital, money capital, and money interestCirculation presupposes another process; motion between presupposed extremesTransition from circulation to capitalist production "Capital is accumulated labour (etc.)""Capital is a sum of values used for the production of values"Circulation, and exchange value deriving from circulation, the presupposition of capitalExchange value emerging from circulation, a presupposition of ciruclation, preserving and multiplying itself in it by means of labourProduct and capital. Value and capital. ProudhonCapital and labour. Exchange value and use value for exchange valueMoney and its use value (labour) in this relation capital: Self-multiplication of value is its only movementCapital, as regards substance, objectified labour. Its antithesis, living, productive labourProductive labour and labour as performance of a serviceProductive and unproductive labour. A. Smith etc.The two different processes in the exchange of capital with labourCapital and modern landed propertyThe marketExchange between capital and labour. Piecework wagesValue of labour powerShare of the wage labourer in general wealth determined only quantitativelyMoney is the worker's equivalent; he thus confronts capital as an equalBut the aim of his exchange is satisfaction of his need. Money for him is only medium of circulationSavings, self-denial as means of the worker's enrichmentValuelessness and devaluation of the worker a condition of capital(Labour power as capital!)Wages not productiveThe exchange between capital and labour belongs within simple circulation, does not enrich the workerSeparation of labour and property the precondition of this exchangeLabour as object absolute poverty, labour as subject general possibility of wealthLabour without particular specificity confronts capitalLabour process absorbed into capital(Capital and capitalist)Production process as content of capitalThe worker relates to his labour as exchange value, the capitalist as use valueThe worker divests himself of labour as the wealth-producing power; capital appropriates it as suchTranformation of labour into capitalRealization process(Costs of production)Mere self-preservation, non-multiplication of value contradicts the essence of capitalCapital enters the cost of production as capital. Interest bearing capital (Parentheses on: original accumulation of capital, historic presuppositions of capital, production in general)Surplus value. Surplus labour timeValue of labour. How it is determinedConditions for the self-realization of capitalCapital is productive as creator of surplus labourBut this is only a historical and transitory phenomenonTheories of surplus value (Ricardo; the Physiocrats; Adam Smith; Ricardo again)Surplus value and productive force. Relation when these increaseResult: in proportion as necessary labour is already diminished, the realization of capital becomes more difficultConcerning increases in the value of capitalLabour does not reproduce the value of material and instrument, but rather preserves it by relating to them in the labour process as to their objective conditionsAbsolute surplus labour time. RelativeIt is not the quantity of living labour, but rather its quality as labour which preserves the labour time already contained in the materialThe change of form and substance in the direct production processIt is inherent in the simple production process that the previous stage of production is preserved through the subsequent onePreservation of the old use value by new labourThe quantity of objectified labour is preserved because contact with living labour preserves its quality as use value for new labourIn the real production process, the separation of labour from its objective moments of existence is suspended. But in this process labour is already incorporated in capitalThe capitalist obtains surplus labour free of charge together with the maintenance of the value of material and instrumentThrough the appropriation of present labour, capital already possesses a claim to the appropriation of future labourConfusion of profit and surplus value. Carey's erroneous calculationThe capitalist, who does not pay the worker for the preservation of the old value, then demands remuneration for giving the worker permission to preserve the old capitalSurplus Value and ProfitDifference between consumption of the instrument and of wages. The former consumed in the production process, the latter outside itIncrease of surplus value and decrease in rate of profitMultiplication of simultaneous working daysMachineryGrowth of the constant part of capital in relation to the variable part spent on wages=growth of the productivity of labourProportion in which capital has to increase in order to employ the same number of workers if productivity risesPercentage of total capital can express very different relationsCapital (like property in general) rests on the productivity of labourIncrease of surplus labour time. Increase of simultaneous working days. (Population)(Population can increase in proportion as necessary labour time becomes smaller)Transition from the process of the production of capital into the process of circulationSection Two: The Circulation Process of CapitalDevaluation of capital itself owing to increase of productive forces(Competition)Capital as unity and contradiction of the production process and the realization processCapital as limit to production. OverproductionDemand by the workers themselvesBarriers to capitalist productionOVerproduction; ProudhonPrice of the commodity and labour timeThe capitalist does not sell too dear; but still above what the thing costs himPrice can fall below value without damage to capitalNumber and unit (measure) important in the multiplication of pricesSpecific accumulation of capital. (Transformation of surplus labour into capital)The determination of value and of pricesThe general rate of profitIf the capitalist merely sells at his own cost of production, then it is a transfer to another capitalist. The worker gains almost nothing therebyBarrier of capitalist production. Relation of surplus labour to necessary labour. Proportion of the surplus consumed by capital to that transformed into capitalDevaluation during crisesCapital coming out of the production process becomes money again(Parenthesis on capital in general)Surplus Labour or Surplus Value Becomes Surplus CapitalAll the determinants of capitalist production now appear as the result of (wage) labour itselfThe realization process of labour at the same time its de-realization processFormation of surplus capital ISurplus capital IIInversion of the law of appropriationChief result of the production and realization processOriginal accumulation of capitalOnce developed historically, capital itself creates the conditions of its existence(Performance of personal services, as opposed to wage labour)(Parenthesis on inversion of the law of property, real alien relation of the worker to his product, division of labour, machinery)Forms which precede capitalist production. (Concerning the process which precedes the formation of the capital relation or of original accumulation)Exchange of labour for labour rests on the worker's propertylessnessCirculation of capital and circulation of moneyProduction process and circulation process moments of production. The productivity of the different capitals (branches of industry) determines that of the individual capitalCirculation period. Velocity of circulation substitutes for volume of capital. Mutual dependence of capitals in the velocity of their circulationThe four moments in the turnover of capitalMoment II to be considered here: transformation of the product into money; duration of this operation. Transport costs. Circulation costs. Means of communication and transportDivision of the branches of labourConcentration of many workers; productive force of this concentrationGeneral as distinct from particular conditions of productionTransport to market (spatial condition of circulation) belongs in the production processCredit, the temporal moment of circulationCapital is circulating capitalInfluence of circulation on the determination of value; circulation time=time of devaluationDifference between the capitalist mode of production and all earlier ones (universality, propagandistic nature)(Capital itself is the contradiction)Circulation and creation of valueCapital not a source of value-creationContinuity of production presupposes suspension of circulation timeTheories of Surplus ValueRamsay's view that capital is its own source of profitNo surplus value according to Ricardo's lawRicardo's theory of value. Wages and profitQuinceyRicardoWakefield. Conditions of capitalist production in coloniesSurplus value and profit. Example (Malthus)Difference between labour and labour capacityCarey's theory of the cheapening of capital for the workerCarey's theory of the decline of the rate of profitWakefield on the contradiction between Ricardo's theories of wage labour and of valueBailey on dormant capital and increase of production without previous increase of capitalWade's explanation of capital. Capital, collective force. Capital, civilization.Rossi. What is capital? Is raw material capital? Are wages necessary for it?Malthus. Theory of value and of wagesAim of capitalist production value (money), not commodity, use value etc. ChalmersDifference in return. Interruption of the production process. Total duration of the production process. Unequal periods of productionThe concept of the free labourer contains the pauper. Population and overpopulationNecessary labour. Surplus labour. Surplus population. Surplus capitalAdam Smith: work as sacrificeAdam Smith: the origin of profitSurplus labour. Profit. WagesImmovable capital. Return of capital. Fixed capital. John Stuart MillTurnover of capital. Circulation process. Production process. Circulation costs. Circulation timeCapital's change of form and of substance; different forms of capital; circulation capital as general character of capitalFixed (tied down) capital and circulating capitalConstant and variable capitalCompetitionSurplus value. Production time. Circulation time. Turnover timeCompetition (continued)Part of capital in production time, part in circulation timeSurplus value and production phase. Number of reproductions of capital = number of turnoversChange of form and of matter in the circulation of capital. C-M-C. M-C-MDifference between production time and labour timeFormation of a mercantile estate; creditSmall-scale circulation. The process of exchange between capital and labour capacity generallyThreefold character, or mode, of circulationFixed capital and circulating capitalInfluence of fixed capital on the total turnover time of capitalFixed capital. Means of labour. MachineTransposition of powers of labour into powers of capital both in fixed and in circulatin capitalTo what extent fixed capital (machine) creates valueFixed capital and continuity of the production process. Machinery and living labour.Contradiction between the foundation of bourgeois production (value as measure) and its developmentSignificance of the development of fixed capital (for the development of capital generally)The chief role of capital is to create disposable time; contradictory form of this in capitalDurability of fixed capitalReal saving (economy)=saving of labour time=development of productive forceTrue conception of the process of social productionOwen's historical conception of industrial (capitalist) productionCapital and value of natural agenciesScope of fixed capital indicates the level of capitalist productionIs money fixed capital or circulating capital?Turnover time of capital consisting of fixed capital and circulating capital. Reproduction time of fixed capitalThe same commodity sometimes circulating capital, sometimes fixed capitalEvery moment which is a presupposition of production is at the same time its result, in that it reproductes its own conditionsThe counter-value of circulating capital must be produced within the year. Not so for fixed capital. It engages the production of subsequent yearsMaintanence costs of fixed capitalRevenue of fixed capital and circulating capitalFree labour=latent pauperism. EdenThe smaller the value of fixed capital in relation to its product, the more usefulMovable and immovable, fixed and circulatingConnection of circulation and reproductionSection Three: Capital as Fructiferous. Tranformation of Surplus Value into ProfitRate of profit. Fall of the rate of profitSurplus value as profit always expresses a lesser proportionWakefield, Carey and Bastiat on the rate of profitCapital and revenue (profit). Production and distribution. SismondiTransformation of surplus value into profitLaws of this and transformationSurplus value=relation of surplus labour to necessary labourValue of fixed capital and its productive powerMachinery and surplus labour. Recapitulation of the doctrine of surplus value generallyRelation between the objective conditions of production. Change in the proportion of the component parts of capitalMiscellaneousMoney and fixed capital: presupposes a certain amount of wealth. Relation of fixed capital and circulating capital (Economist)Slavery and wage labour; profit upon alienation (Steuart)Steuart, Montanari and Gouge on moneyThe wool industry in England since Elizabeth; silk-manufacture; iron; cottonOrigin of free wage labour. Vagabondage. (Tuckett)Blake on accumulation and rate of profit; dormant capitalDomestic agriculture at the beginning of the sixteenth century. (Tuckett)Profit. Interest. Influence of machinery on the wage fund. (Westminster Review)Money as measure of values and yardstick of prices. Critique of theories of the standard measure of moneyTransformation of the medium of circulation into money. Formation of treasures. Means of payment. Prices of commodities and quantity of circulating money. Value of moneyCapital, not labour, determines the value of money (Torrens)The minimum of wagesCotton machinery and working men in 1826. (Hodgskin)How the machine creates raw material. (Economist)Machinery and surplus labourCapital and profit. Relation of the worker to the conditions of labour in capitalist production. All parts of capital bring a profitTendency of the machine to prolong labourCotton factories in England. Example for machinery and surplus labourExamples from Glasgow for the rate of profitAlienation of the conditions of labour with the development of capital. InversionMerivale. Natural dependence of the worker in colonies to be replaced by artificial restrictionsHow the machine saves material. Bread. Dureau de la MalleDevelopment of money and interestProductive consumpion. Newman. Transformations of capital. Economic cycleDr. Price. Innate power of capitalProudhon. Capital and simple exchange. SurplusNecessity of the worker's propertylessnessGalianiTheory of savings. StorchMacCulloch. Surplus. ProfitArnd. Natural interestInterest and profit. CareyHow merchant takes the place of masterMerchant wealthCommerce with equivalents impossible. OpdykePrincipal and interestDouble standardOn moneyJames Mill's false theory of pricesRicardo on currencyOn moneyTheory of foreign trade. Two nations may exchange according to the law of profit in such a way that both gain, but one is always defraudedMoney in its third role, as money(I) Value (This section to be brought forward)Bastiat and CareyBastiat's economic harmoniesBastiat on wages

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Book SynopsisRobert Penn''s It''s All About the Bike: The Pursuit of Happiness on Two Wheels is a paean to the humble bike; it''s the story of why we ride, and why this simple machine holds the power to transport us all. Robert Penn has ridden a bike most days of his life. He rides to get to work, to bathe in air and sunshine, to stay sane and to feel free. This is the story of his love affair with cycling and the journey to build his dream bike; a freewheeling pilgrimage taking him from Californian mountain bike inventors to British artisan frame builders, and from perfect components to the path of true happiness. ''A gem of a book ... a joy''  Economist ''Infectious, exhilarating, highly engaging''  Independent ''Be swept along by Penn''s enthusiasm, humour and refreshing candour''  Sunday Telegraph ''Enriches your enjoyment of a ride''  Sunday Times ''As a depiction of a world you might vote for, Penn''s does not sound bad at all''  Observer Robert Penn writes for the Financial Times, Observer and Condé Nast Traveller, as well as a host of cycling publications. He is the author of The Wrong Kind of Snow. Robert lives in the Black Mountains, South Wales with his wife and three children and commutes to work across a heather moor on a mountain bike.Trade ReviewGem of a book * Economist *Penn writes with a Bill-Brysonesque facility for concentrating a lot of information and research into an easy-to-read ... Best of all ... his account enriches your enjoyment of a ride -- Tim Dawson, Cycle Guy * Sunday Times *Fantastic ... Well worth a read if, like me, you love cycling! -- Paul SmithArtfully, Penn turns his quest for hardware ... into a worldwide spin around cycling and its culture -- William Fotheringham * Guardian *The pages overflow with pioneers, mavericks and geniuses - certainly, it is hard to imagine anyone who reads this book being able to buy a bike "off the peg" again -- Tim Lewis * Observer *I've just spent a week pedalling slowly from Windermere to Aviemore with a copy of Penn's zealous eulogy in my pannier. His infectious admiration for the exhilarating sociability of cycling, coupled with reverence for quality craftsmanship, made highly engaging company ... appreciate the wit and enthusiasm of this unusual odyssey -- James Urquhart * Independent *Penn tells us that the bicycle, as we know it, was invented in 1885 and is the most efficient form of transport ever devised... A joyful book -- William Leith * The Scotsman *Bike-lit is booming, and while 'cross-country hardtail' might not have the same ring to it as 'penny-farthing', there's evidently little to do with cycling about which Robert Penn can't wax lyrical. Whether his subject is spokes or saddle sores, he is relentlessly enthusiastic... Penn's amiability is puncture-proof -- Stephanie Cross * Daily Mail *[H]is adrenalin-charged enthusiasm... delivers a good ride... The social history is snappy and his almost religious quest for ultimate craftsmanship full of wit. -- James Urquhart * Financial Times *

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Book SynopsisKatherine Melchior Ray lectures on international marketing and leadership at UC Berkeley Hass School of Business, CA. She has over twenty-five-years experience building the world's best consumer brands at companies including Nike, Nordstrom, Louis Vuitton, Gucci, Hyatt, Shiseido and Babbel across the world including in the USA, Japan and Europe. She has guest lectured at Stanford, Wharton, Brown and Portland State University. Nataly Kelly is Chief Marketing Officer at Zappi, based in Boston, MA. Previously she served at HubSpot as Vice President of Marketing, Vice President of International Operations and Strategy, and Vice President of Localization.

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Book SynopsisForecasting for the Pharmaceutical Industry is a definitive guide for forecasters as well as the multitude of decision makers and executives who rely on forecasts in their decision making. In virtually every decision, a pharmaceutical executive considers some type of forecast. This process of predicting the future is crucial to many aspects of the company - from next month''s production schedule, to market estimates for drugs in the next decade. The pharmaceutical forecaster needs to strike a delicate balance between over-engineering the forecast - including rafts of data and complex 'black box' equations that few stakeholders understand and even fewer buy into - and an overly simplistic approach that relies too heavily on anecdotal information and opinion. Arthur G. Cook''s highly pragmatic guide explains the basis of a successful balanced forecast for products in development as well as currently marketed products. The author explores the pharmaceutical forecasting process; the varied

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Book SynopsisTransnational Management provides an integrated conceptual framework to guide students and instructors through the challenges facing enterprises operating in today''s complex worldwide environment. Through text narrative and cases, the authors skillfully examine the development of strategy, organizational capabilities and management roles, and responsibilities for managing effectively across national boundaries. The key concepts are developed in eight chapters supplemented by practical case studies from world-leading case writers. All chapters have been revised and updated for this ninth edition to reflect the latest thinking in transnational management while retaining the book''s strong integrated conceptual framework. Nineteen new cases have been added and thirteen classics are retained. Recommended academic and practitioner readings have been updated for each chapter. A full range of online support materials include detailed case teaching notes, comprehensive lecture slides and a test bank. Suitable for MBA, executive education, and senior undergraduate students studying courses such as international management, international business or global strategy.

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Book SynopsisIn this eagerly awaited sequel to the international bestseller The Monk Who Sold His Ferrari, world renowned leadership guru Robin Sharma will teach you how to restore trust, commitment and belief within your organisation, while simultaneously changing the way you live your life in the process.A practical guide to visionary leadership and an inspiring fable, Leadership Wisdom is the true sequal to the international bestseller The Monk Who Sold His Ferrari.It follows the story of Peter Franklin, a frustrated owner of a struggling digital software company. Just as things start to seem hopeless for Peter, a young monk appears at his door, offering sure-fire advice on how to turn the fate of his business around. Peter is astonished to learn that the monk is in fact his long-lost friend Julian Mantle, returned from his extraordinary Indian odyssey and ready to share his timeless wisdom for visionary leadership.Expressed in an easy-to-use eight step system of practical lessons, this inspirinTrade Review‘Robin Sharma has the rare gift of writing books that are truly life-changing.’Richard Carlson, author of Don’t Sweat the Small Stuff 'Robin Sharma's books are helping people all around the world live great lives.'Paulo Coelho PRAISE FOR THE MONK WHO SOLD HIS FERRARI: ‘Nothing less than sensational. This book will bless your life.’Mark Victor Hansen, co-author, Chicken Soup for the Soul ‘The Monk Who Sold His Ferrari is a captivating story that teaches as it delights’Paulo Coelho ‘Contains treasures of wisdom that can enrich and enhance the life of every single person.’Brian Tracy, author of Maximum Achievement

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Book Synopsis“A quintessential work of technological futurism.” – James Surowiecki, strategy + business, “Best Business Books 2017 – Innovation”From one of our leading technology thinkers and writers, a guide through the twelve technological imperatives that will shape the next thirty years and transform our livesMuch of what will happen in the next thirty years is inevitable, driven by technological trends that are already in motion. In this fascinating, provocative new book, Kevin Kelly provides an optimistic road map for the future, showing how the coming changes in our lives—from virtual reality in the home to an on-demand economy to artificial intelligence embedded in everything we manufacture—can be understood as the result of a few long-term, accelerating forces. Kelly both describes these deep trends—interacting, cognifying, flowing, screening, accessing, sharing, filtering, remixing, tracking, and questioni

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Book SynopsisGemma Dale is a senior lecturer in the Business School at Liverpool John Moores University, teaching management, HR and personal development skills to first second and third year undergraduates. She is an experienced HR professional, as Chartered Fellow of the CIPD and Fellow of the HEA , with over twenty years of experience working in a range of HR roles across multiple sectors. Gemma Dale is the author of How to Work Remotely and Flexible Working, also published by Kogan Page.

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Designing for Playful Engagement in Museums is filled with creative fodder for practitioners who wish to make more memorable and engaging experiences that promote a sense of presence, effectively evoke emotions, tell stories that transport them, and harness visitorsâ innate playfulness.Providing readers with a framework for understanding playful engagement, Rodley details four concepts that, used effectively, can create a new generation of compelling visitor experiences. The book combines research and examples from the cultural and for-profit sectors with new insights from current research in psychology, neuroscience and human computer interaction to explore why these concepts are valuable to designers. Reflections from leading practitioners from around the globe and across the experience design spectrum provide unique insights into the current state of practice. This is augmented by examples from the authorâs thirty-plus years of experience developing visitor experiences in a variety of science, art, and history museums.Designing for Playful Engagement in Museums provides practitioners with a concrete way of thinking about engagement that centers visitors. The book will be of particular interest to professionals in museums, libraries and archives, but will also be essential reading for academics and students engaged in the study of museums, heritage, digital humanities and experience design.

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Book SynopsisGenerally referring to all forms of social coordination and patterns of rule, the term 'governance' is used in many different contexts. In this Very Short Introduction, Mark Bevir explores the main theories of governance and considers their impact on ideas of governance in the corporate, public, and global arenas.Trade Review[A] a well written, strong account of the story of governance * Political Studies Review *Table of ContentsLIST OF ABBREVIATIONS; FURTHER READING; INDEX

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Book SynopsisIn addressing the nature and causes of the wealth of nations, Adam Smith made one of the most potent contributions to subsequent ideological history. In the west since the early nineteenth century he has been the patron saint of homo economicus. More recently, successive British governments have invoked his policy recommendations of free trade and laissez-faire to aid their extension of privatization and market effectiveness into areas such as health and education. Smith, however, not only viewed merchants and manufacturers with deep suspicion, but also tempered his celebration of a self-regulating market with a darker vision of the dehumanizing potential of a profit-oriented society. He did not write an economics textbook, but rather a panoramic narrative about the struggle for individual liberty and general prosperity in history, a subject he shared with other writers of the Enlightenment.Trade Reviewthe selection of material is judicious and the commentary brilliant and entertaining * Mark Davis, Professor of Mathematics, Imperial College London *

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Book SynopsisPerforming Organizational Paradoxes takes a constitutive, process approach to organizational paradoxes. It underscores the performative nature of paradox through underlying dialectical tensions, its sociomaterial foundations, and power features that bring paradoxes to life, sustain them, and enable their transformation. The book first situates a constitutive approach in the extant organizational paradox literature, by broadening the constitutive approach and addressing the many debates and inaccuracies around it. For the novice, several early chapters devote themselves to considering how paradoxical tensions present themselves, invite responses, and interrelate through their organizing outcomes. For the advanced, latter chapters consider the ubiquity of power and paradox, how bodies escape the quarantine of their paradox narratives, how inventive category work can resist power-imbued paradoxes, and an agenda for future research that challenges scholars to do more on the process side of paradox.Filling an important gap in the existing literature, this book will be a key resource for scholars and students in the fields of communication, management, educational administration, organizational psychology and any other fields that study organizations.

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Book SynopsisIn Volume Two of this arresting and powerful manifesto for economic change, Jon Moynihan analyses the UK's decades-long stagnant economy and looks at what can be done to resuscitate it.

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Book SynopsisCase Studies in Finance links managerial decisions to capital markets and the expectations of investors. At the core of almost all of the cases is a valuation task that requires students to look to financial markets for guidance in resolving the case problem. The focus on value helps managers understand the impact of the firm on the world around it. These cases also invite students to apply modern information technology to the analysis of managerial decisions.The cases may be taught in many different combinations. The eight-part sequence indicated by the table of contents relates to course designs used at the authors'' schools. Each part of the casebook suggests a concept module, with a particular orientation.

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Book Synopsis'Provocative and detailed ... Excellent' The Telegraph'Shocking and meticulous' Danny Dorling'An eye-opening revelation ... a must-read' Joel BakanTHE TELEGRAPH BEST BOOKS OF 2024British politicians love to vaunt the benefits of the UK's supposed special relationship' with the US. But are we really America's economic partner or its colony?Vassal State lays bare the extent to which US corporations own and control Britain's economy: how American business chiefs decide what we're paid, what we buy, and how we buy it. US companies have carved up Britain between them, siphoning off enormous profits, buying up our most lucrative firms and assets, and extracting huge rents from UK PLC all while paying little or no tax. Meanwhile, policymakers, from Whitehall mandarins to NHS chiefs, shape their decisions to suit the whims of our American corporate overlords. Based on his 40 years of business experience, devastating new research, and interviews with the major players, Angus Hanton exposes why Britain has become the poor transatlantic relation and what we can do to change it.

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Book SynopsisImproving Performance is recognized as the book that launched the Process Improvement revolution. It was the first such approach to bridge the gap between organization strategy and the individual. Now, in this revised and expanded new edition, Gary Rummler reflects on the key needs of organizations faced with today''s challenge of managing change in today''s complex world. The book shows how to apply the three levels of performance and link performance to strategy, move from annual programs to sustained performance improvement, redesign processes, overcome the seven deadly sins of performance improvement and much more.Table of ContentsList of Figures and Tables v Foreword ix Preface xi The Authors xvii Part One: A Framework for Improving Performance 1 1 Viewing Organizations as Systems 3 2 Three Levels of Performance: Organization, Process, and Job/Performer 12 Part Two: Exploring The Three Levels of Performance 27 3 The Organization Level of Performance 29 4 The Process Level of Performance 42 5 The Job/Performer Level of Performance 62 Part Three: Applying The Three Levels of Performance 75 6 Linking Performance to Strategy 77 7 Moving from Annual Programs to Sustained Performance Improvement 86 8 Diagnosing and Improving Performance: A Case Study 97 9 Project Definition: The Ten Essential Steps 110 10 Process Analysis and Design: The Ten Essential Steps 140 11 Overcoming the Seven Deadly Sins of Process Improvement 174 12 Measuring Performance and Designing a Performance Management System 182 13 Managing Processes and Organizations as Systems 211 14 Designing an Organization Structure That Works 226 15 Creating a Performance-Based Human Resource Development Function 244 16 Developing an Action Plan for Performance Improvement 259 Index 264 Instructor’s Guide 270

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Book SynopsisAn innovative guide that identifies what distinguishes the best financial risk takers from the rest From 1987 to 1992, a small group of Wall Street quants invented an entirely new way of managing risk to maximize success: risk management for risk-takers. This is the secret that lets tiny quantitative edges create hedge fund billionaires, and defines the powerful modern global derivatives economy. The same practical techniques are still used today by risk-takers in finance as well as many other fields. Red-Blooded Risk examines this approach and offers valuable advice for the calculated risk-takers who need precise quantitative guidance that will help separate them from the rest of the pack. While most commentators say that the last financial crisis proved it''s time to follow risk-minimizing techniques, they''re wrong. The only way to succeed at anything is to manage true risk, which includes the chance of loss. Red-Blooded Risk presents specific, actionTrade Review"Wickedly original, one of the most fascinating accounts I have ever seen. A rollicking and highly opinionated read." (Risk Professional, October 2011) “No one who reads Red-Blooded Risk: The Secret History of Wall Street will ever again regard risk management as a necessary but unproductive appendage of the financial industry. Other authors have chronicled how quantitative finance influenced investment management, but Aaron Brown has made a compelling case for a far more profound economic impact. . . If Red-Blooded Risk: The Secret History of Wall Street dealt with nothing more than the inadequacy of models used in highly important activities, it would represent a valuable contribution to financial economics. Brown’s book, however, covers a great deal more than econometric malpractice. Probably no other book offers as much insight into the process with so little resort to mathematical notation. Especially valuable are Brown’s discussions of middle-office risk management and value at risk, comparatively recent innovations that are essential to understanding modern financial institutions. Readers of Red-Blooded Risk should be prepared to have many of their assumptions challenged. Red-Blooded Risk is one of the most original and thought-provoking books reviewed in these pages in the past 20 years. No one who reads it will ever again regard risk management as a necessary but unproductive appendage of the financial industry. Other authors have chronicled how quantitative finance influenced investment management, but Aaron Brown has made a compelling case for a far more profound economic impact.” —Martin S. Fridson, CFA Institute Publications Book Reviews “Red-Blooded Risk mixes risk history and philosophy nimbly and provides a perspective that can be both refreshing and challenging (often on the same page). While the book is not without weaknesses, it is also brimming with original perspectives and controversial opinions. Those who work in risk management or quantitative finance will enjoy Brown’s story-telling and expert perspectives, even if they do not share his views, while non-quants will find his insights and confessions to be a useful glimpse into the psyche and ethos of an influential group of early quantitative risk takers. —Roger M. Stein, Research and Academic Relations, Moody’s Corporation, as reviewed in Quantitative Finance (August 6, 2012)Table of ContentsAcknowledgments xi Chapter 1 What This Book Is and Why You Should Read It 1 Risk, Danger, and Opportunity 2 Red- Blooded Risk Management 4 Risk and Life 7 Play and Money 9 Frequentism 11 Rationality 13 Bets 15 Exponentials and Culture 18 Payoff 20 Chapter 2 Red Blood and Blue Blood 23 Chapter 3 Pascal’s Wager and the Seven Principles of Risk Management 29 Principle I: Risk Duality 32 Principle II: Valuable Boundary 33 Principle III: Risk Ignition 35 Principle IV: Money 38 Outside the VaR Boundary 40 Principle V: Evolution 45 Principle VI: Superposition 48 Principle VII: Game Theory 49 Chapter 4 The Secret History of Wall Street: 1654– 1982 57 Pascal and Fermat 58 Poker 61 Advantage Gamblers 62 Sports Betting 63 Quants to Wall Street 66 Finance People 68 Real Finance 69 Chapter 5 When Harry Met Kelly 73 Kelly 74 Harry 76 Commodity Futures 79 If Harry Knew Kelly 84 Investment Growth Theory 88 eRaider.com 92 MPT Out in the World 96 Chapter 6 Exponentials, Vampires, Zombies, and Tulips 101 Types of Growth 102 The Negative Side 105 Tulips 106 Tulip Propaganda 108 Quantitative Tulip Modeling 111 Money 112 Chapter 7 Money 117 Chapter 8 The Story of Money: The Past 125 Property, Exchange, and Money 126 Paleonomics 128 Transition 131 What Money Does 134 Risk 135 Government and Paper 138 Paper versus Metal 142 1776 and All That 145 Andrew Dexter 147 A Short Digression into Politics and Religion 150 Chapter 9 The Secret History of Wall Street: 1983– 1987 155 Efficient Markets 157 Anomalies 159 The Price Is Right Not! 161 Efficiency versus Equilibrium 162 Beating the Market 165 Paths 170 Sharpe Ratios and Wealth 174 1987 177 Chapter 10 The Story of Money: The Future 179 Farmers and Millers 180 Money, New and Improved 183 A General Theory of Money 185 Value and Money 189 Numeraire 191 Clearinghouses 196 Cash 197 Derivative Money 200 The End of Paper 203 Chapter 11 Cold Blood 207 Chapter 12 What Does a Risk Manager Do?—Inside VaR 213 Professional Standards 213 Front Office 215 Trading Risk 217 Quants on the Job 218 Middle Office 222 Back Office 225 Middle Office Again 227 Looking Backward 228 Risk Control 230 Beyond Profit and Loss 232 Numbers 234 The Banks of the Charles 236 Waste 238 The Banks of the Potomac 241 The Summer of My Discontent 245 Validation 247 Chapter 13 VaR of the Jungle 251 Chapter 14 The Secret History of Wall Street: 1988– 1992 255 Smile 256 Back to the Dissertation 258 Three Paths 262 An Unexpected Twist 265 Surprise! 267 Computing VaR 271 Chapter 15 Hot Blood and Thin Blood 277 Chapter 16 What Does a Risk Manager Do?— Outside VaR 283 Stress Tests 283 Trans-VaR Scenarios 287 Black Holes 289 Why Risk Managers Failed to Prevent the Financial Crisis 290 Managing Risk 296 Unspeakable Truth Number One: Risk Managers Should Make Sure Firms Fail 299 Unspeakable Truth Number Two: There’s Good Stuff beyond the VaR Limit 305 Unspeakable Truth Number Three: Risk Managers Create Risk 309 Chapter 17 The Story of Risk 313 Chapter 18 Frequency versus Degree of Belief 323 Statistical Games 324 Thorp, Black, Scholes, and Merton 329 Change of Numeraire 333 Polling 336 The Quant Revolution 341 Chapter 19 The Secret History of Wall Street: 1993– 2007 345 Where Did the Money Come From? 348 Where Did They Put the Money? 359 Where Did the Money Go? 364 Chapter 20 The Secret History of Wall Street: The 2007 Crisis and Beyond 369 Postmortem 379 A Risk Management Curriculum 387 One Hundred Useful Books 393 About the Author 401 About the Illustrator 403 Index 405

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Book SynopsisGrow the Core stands conventional wisdom about business growth on its head and provides a proven formula for growing your business in recessionary times. These days, it s a common belief among business leaders across industry sectors that the best way to grow their businesses is to expand into new markets.Trade ReviewIncludes useful tips, including how to strengthen a core brand with a limited communication budget. (Supply Business, January 2013) For a marketer, retail buyer, entrepreneur or interested consumer, this is a great book looking at whether businesses should stick to what they know of their original or most profitable brand or whether businesses should expand into other broader areas. (Supply Management, February 2013) The marketing division of any well-established company should study this book- you never know when the mighty might fall. (Professional Manager, May 2013)Table of ContentsThanks xi Introduction xiii Part I: Why Grow the Core? 1 1. Defining the core 3 What is the core? 3 Anchoring the core 7 Key takeouts 9 Checklist 9 2. Stretching the brand, forgetting the core 11 Getting it right… brand stretch can work – Apple 11 Getting it wrong… brand ego tripping – Virgin 13 Snow White and the 17 dwarves 20 Neglecting the core – Bausch & Lomb 24 Key takeouts 25 Checklist 26 3. The case for the core 27 Two ways to make a million – Heinz soup 27 The case for the core 30 A new marketing mind-set – Scooty 30 The challenges of growing the core 32 Key takeouts 36 Checklist 36 Part II: Grow the Core Principles 37 4. The core growth drivers 39 Core growth driver 1: Penetration 39 Driving penetration with distinctiveness 44 Fresh consistency – James Bond 48 Driving penetration with distribution 57 Core growth driver 2: Premiumisation 58 The Grow the Core workouts 59 The best brand in the world – Nespresso? 61 Key takeouts 65 Checklist 66 5. Renovation or re-invention? 67 Renovate the core – Walkers 69 Re-position the core – Lucozade 72 Re-define the core – Bertolli 76 Re-invent the core – Kodak and TomTom 77 Key takeouts 82 Checklist 83 Part III: Grow the Core Workouts 85 6. Workout 1: Bake the brand into your product 87 Bake in your brand – The Geek Squad 89 Using product to grow your core 1: Amplify a product truth – Morrisons and Castle Lite 92 Using product to grow your core 2: More of what you want – McDonald’s 97 Using product to grow your core 3: Less of what you don’t want – Walkers 99 Key takeouts 100 Checklist 100 7. Workout 2: Create a distinctive identity 103 Identity crisis 105 Being the 1 in 1000 106 Balancing freshness and consistency – Tropicana 108 Updating your identity – Nivea 110 Creating your identity – Charlie Bigham’s 111 Suggesting a benefit – Waitrose Essentials 113 Re-positioning – Green & Black’s 115 Adding value – Molton Brown 115 Packvertising – innocent 116 Family ties – Nescaf´e and Red Bull 118 Amplifying brand properties – Felix 121 Five-minute focus groups 122 Key takeouts 124 Checklist 124 8. Workout 3: Communicate with cut-through 127 Communication breakdown 129 Fresh consistency 132 Think like a TV producer 137 Creating a campaign – Sainsbury’s 138 Refreshing what made you famous – Hovis 140 What about social media? 144 Key takeouts 161 Checklist 162 9. Workout 4: Go beyond promotion to activation 163 Grab and go – innocent’s Big Knit 166 Creating an activation property – Carling ‘Be the Coach’ 168 Amplifying the property – Nike 172 Key takeouts 175 Checklist 176 10. Workouts 5 and 6: Drive your distribution 177 Workout 5: Existing channels 180 Workout 6: New channels 182 Key takeouts 188 Checklist 189 11. Workouts 7 and 8: Extend the core 191 Delivering a double whammy 193 Workout 7: Pack extension – WD-40 196 Workout 8: Product extension – Ryvita 199 Key takeouts 202 Checklist 202 Part IV: The Grow the Core Workplan 203 12. Grow the core – getting started 205 Stage 1: Insight 207 Stage 2: Ideas 214 Stage 3: Exploration 214 Stage 4: Action 215 Key takeouts 220 Checklist 221 References 223 Also by 227 Index 229

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Book SynopsisThe keys to global business success, as taught by a T-shirt''s journey The Travels of a T-Shirt in the Global Economy is a critically-acclaimed narrative that illuminates the globalization debates and reveals the key factors to success in global business. Tracing a T-shirt''s life story from a Texas cotton field to a Chinese factory and back to a U.S. storefront before arriving at the used clothing market in Africa, the book uncovers the political and economic forces at work in the global economy. Along the way, this fascinating exploration addresses a wealth of compelling questions about politics, trade, economics, ethics, and the impact of history on today''s business landscape. This new printing of the second edition includes a revised preface and a new epilogue with updates through 2014 on the people, industries, and policies related to the T-shirt''s life story. Using a simple, everyday T-shirt as a lens through which to explore the business, economic, morTable of ContentsPreface ix Prologue xvii Part I King Cotton 1 1 How America Has Dominated the Global Cotton Industry for 200 Years 3 2 The History of American Cotton 9 3 Back at the Reinsch Farm 24 4 All God’s Dangers Ain’t the Subsidies 49 Part II Made in China 75 5 Cotton Comes to China 77 6 The Long Race to the Bottom 92 7 Sisters in Time 105 8 The Unwitting Conspiracy 120 Part III Trouble at the Border 141 9 Returning to America 143 10 Dogs Snarling Together 156 11 Perverse Effects and Unintended Consequences of T-Shirt Trade Policy 171 12 45 Years of ‘‘Temporary’’ Protectionism End in 2009—Now What? 196 Part IV My T-shirt Finally Encounters a Free Market 213 13 Where T-Shirts Go after the Salvation Army Bin 215 14 How Small Entrepreneurs Clothe East Africa with Old American T-Shirts 227 15 Mitumba: Friend or Foe to Africa? 239 Conclusion 253 Epilogue: Developments 2009–2014 262 I: American Cotton Is Still King 262 II: The Race to the Bottom Speeds Up 270 III: The Alphabet Armies March On 277 IV: Competition Heats Up in the Used Clothing Business 282 Acknowledgments 286 Notes 288 Bibliography 310 Index 335

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Book SynopsisYour plain-English guide to understanding and using technical chart patterns Chart pattern analysis is not only one of the most important investing tools, but also one of the most popular.Table of ContentsPreface to First and Second Editions ix Acknowledgments xi Chapter 1 Introduction to Chart Patterns 1 Chapter 2 Identifying Chart Patterns 7 Chapter 3 The Truth about Trendlines 17 Chapter 4 Support and Resistance 35The Most Important Chart Patterns Chapter 5 Ten Buy Signals 53 Chapter 6 Ten Sell Signals 119 Chapter 7 Special Situations 191 Chapter 8 Busted Patterns 225Making Money by Trading Failure Chapter 9 More Trades 255Putting It All Together Chapter 10 The Art of Trading 285Checklists Chapter 11 Crunching the Numbers 323 Glossary 327 Visual Index of Chart Patterns 333 About the Author 339 Index 341

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Book SynopsisA trusted resource on the complex ethical questions that define the accounting professionAn accountant's practice depends on making difficult decisions. To achieve the best results, individual accountants and accounting firms need a clear understanding of the ethical duties and decision-making involved in the four major functions of modern accountingauditing, management accounting, tax accounting, and consultingas well as a strong sense of ethical conduct to guide the certification and validation of reliable financial records. Now in its third edition, Accounting Ethics is a thorough and engaging exploration of the ethical issues that accountants encounter in their professional lives. Since the publication of the first edition in 2002, Accounting Ethics has become an indispensable resource for accounting courses and certification programs worldwide, known for its focus on real-world application, practical advice, reader-friendly guidance, and Table of ContentsPreface to the Third Edition vii Introduction to Accounting Ethics 1 1 The Nature of Accounting and the Chief Ethical Difficulty:True Disclosure 9 2 Ethical Behavior in Accounting: What is Ethics? 35 3 Ethical Behavior in Accounting: Ethical Theory 57 4 Accounting as a Profession: Characteristics of a Profession 75 5 Accounting Codes of Conduct 83 6 The Rules of the Code of Conduct 103 7 The Auditing Function 129 8 The Ethics of Managerial Accounting 157 9 The Ethics of Tax Accounting 177 10 Ethics Applied to the Accounting Firm 197 Appendix A: Summary of Sarbanes–Oxley Act of 2002 219 Appendix B: IMA Statement of Ethical Professional Practice 231 Index 235

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