Finance and the finance industry Books
OUP Oxford The Oxford Handbook of Bayesian Econometrics
Book SynopsisBayesian econometric methods have enjoyed an increase in popularity in recent years. Econometricians, empirical economists, and policymakers are increasingly making use of Bayesian methods. This handbook is a single source for researchers and policymakers wanting to learn about Bayesian methods in specialized fields, and for graduate students seeking to make the final step from textbook learning to the research frontier. It contains contributions by leading Bayesians on the latest developments in their specific fields of expertise. The volume provides broad coverage of the application of Bayesian econometrics in the major fields of economics and related disciplines, including macroeconomics, microeconomics, finance, and marketing. It reviews the state of the art in Bayesian econometric methodology, with chapters on posterior simulation and Markov chain Monte Carlo methods, Bayesian nonparametric techniques, and the specialized tools used by Bayesian time series econometricians such as Trade ReviewThis Handbook is an excellent piece of scholarly work that displays the full power of the Bayesian method. * Gael Martin *Table of ContentsPART I: PRINCIPLES ; PART II: METHODS ; PART III: APPLICATIONS
£128.25
OUP Oxford The Architecture of Innovation
Book SynopsisJosh Lerner, leading Harvard Business School professor, explores what lies behind successful innovation, and what managers and companies can learn from successful and unsuccessful cases. He combines both analysis of in-house innovation in corporate research labs, with more finance based venture capital investment in innovation.Table of ContentsPART I: THE TRADITIONAL MODEL; PART II: THE VENTURE ALTERNATIVE; PART III: THE BEST OF BOTH WORLDS?
£21.67
Oxford University Press An Introduction to Quantitative Finance
Book SynopsisThe quantitative nature of complex financial transactions makes them a fascinating subject area for mathematicians of all types. This book gives an insight into financial engineering while building on introductory probability courses by detailing one of the most fascinating applications of the subject.Trade ReviewShort and to the point, uncluttered, unfancy, free of the faux rigor of most modern finance textbooks, written by a practitioner, that hits most of the essential principles of quantitative finance. * Emanuel Derman, author of My Life as a Quant *The author writes elegantly, and combines precision of expression with topical real-world examples in a way that makes this an exceptional work. * Frank Kelly, University of Cambridge *It is all too rare to find clear thinking, based on first principles, combined with practical understanding of financial markets. This is precisely what Stephen Blyth offers, drawing equally on his mathematical and statistical training and his career in quantitative finance. This book beautifully explains both the profound implications of no-arbitrage theory for the prices of fixed-income derivative securities, and also the pitfalls in practical applications. * John Y Campbell, Harvard University *Table of ContentsI INTRODUCTION AND PRELIMINARIES; II FORWARDS, SWAPS AND OPTIONS; III REPLICATION, RISK-NEUTRALITY AND THE FUNDAMENTAL THEOREM; IV INTEREST RATE OPTIONS; V THROUGH CONTINUOUS TIME
£40.84
OUP Oxford Oxford Handbook of Bayesian Econometrics
Book SynopsisBayesian econometric methods have enjoyed an increase in popularity in recent years. Econometricians, empirical economists, and policymakers are increasingly making use of Bayesian methods. This handbook is a single source for researchers and policymakers wanting to learn about Bayesian methods in specialized fields, and for graduate students seeking to make the final step from textbook learning to the research frontier. It contains contributions by leading Bayesians on the latest developments in their specific fields of expertise. The volume provides broad coverage of the application of Bayesian econometrics in the major fields of economics and related disciplines, including macroeconomics, microeconomics, finance, and marketing. It reviews the state of the art in Bayesian econometric methodology, with chapters on posterior simulation and Markov chain Monte Carlo methods, Bayesian nonparametric techniques, and the specialized tools used by Bayesian time series econometricians such as Trade ReviewThis Handbook is an excellent piece of scholarly work that displays the full power of the Bayesian method. All chapters, whilst reasonably self-contained, also serve as springboards to the broader literature, with extensive referencing being a feature of all. Access to specialized computer code is provided in some cases, serving to aid in the wider dissemination and use of the paradigm. * Gael Martin, The Econometrics Journal *Table of ContentsPART I: PRINCIPLES ; PART II: METHODS ; PART III: APPLICATIONS
£36.09
Oxford University Press Working Capital Management
Book SynopsisAs soon as a firm starts operating and furthermore, the moment it starts to grow, it needs to come to a decision about how to invest funds, how much cash and inventory to hold on to, how much financing to provide to customers, how to obtain the necessary funds, how much debt to take on and in which terms-all the answers to these questions have serious consequences for a firm''s cash flow and profitability.Working Capital Management is a hands-on look at the crucial decision of how to define and finance the operating investments of a business. Starting with an overview of the fundamental framework of corporate finance, the authors set out to define the central, and usually underestimated, role that working capital plays within this structure. They show not only how to prevent the losses that result from mishandling of working capital, but also how to fully exploit the strategic potential that intelligent, expert management of working capital allows. The book is the first to emphasize thTrade ReviewGiven the breadth of recent capital market disruptions, companies have undergone a thorough reevaluation of their capital structure objectives. Working capital management choices have become strategically more important as they have a direct impact into financial sustainability. This book gives light to a very complex subject in a very easy to understand manner. * Lisandro Miguens, Managing Director, Senior Country Officer, J.P. Morgan *Table of ContentsPreface Introduction Chapter 1: Corporate Finance Chapter 2: Working Capital Chapter 3: Working Capital, Seasonality, and Growth Chapter 4: Financial Analysis and Working Capital Chapter 5: Cash Management Chapter 6: Managing Account Receivables Chapter 7: Managing Inventories Chapter 8: Managing Account Payables Chapter 9: Short-term Debt Chapter 10: Working Capital and Corporate Strategy Chapter 11: Working Capital Financing Costs Chapter 12: Patterns in Working Capital Notes References Index
£48.60
Oxford University Press Inc Investment Science
Book SynopsisTable of ContentsPREFACE1. Introduction PART I. DETERMINISTIC CASH FLOWS2. The Basic Theory of Interest3. Fixed Income Securities4. The Term Structure of Interest Rates5. Applied Interest Rate Analysis PART II. SINGLE-PERIOD RANDOM CASH FLOWS6. Mean-Variance Portfolio Theory7. The Capital Asset Pricing Model8. Other Pricing Models9. Data and Statistics10. Risk Measures11. General Principles PART III. DERIVATIVE SECURITIES12. Forwards, Futures, and Swaps13. Models of Asset Dynamics14. Basic Options Theory15. Additional Options Topics16. Interest Rate Derivatives17. Credit Risk PART IV. GENERAL CASH FLOW STREAMS18. Optimal Portfolio Growth19. General Investment Evaluation APPENDIX A: Basic Probability Theory APPENDIX B: Calculus and Optimization
£246.99
Oxford University Press, USA Regulated Exchanges
Book SynopsisExchanges play an essential and central role in the world''s economy. They epitomize transparency in the price-formation process, informing investors and disseminating vital information for the functioning of financial markets, and in so doing they represent an important source of capital for nascent and established companies alike. Even during the recent crisis, exchanges remained open and liquid in the face of extreme volatility-thus the trust investors place in regulated exchanges when confronted with uncertainty is beyond doubt. Since the inception of the World Federation of Exchanges in the 1960s, the operational and competitive landscape for organized exchanges has changed radically. Technology and globalization have allowed financial flows to move freely across borders, and burgeoning competition and lower regulatory barriers have spurred far-reaching transformations in the way securities are traded.Against this background, and on the occasion of the 50th anniversary of the World Federation of Exchanges, the WFE has partnered with Larry Harris and the Centre for European Policy Studies to produce a definitive volume of essays to take a look at the historic role exchanges have played in the global economy, highlighting pivotal innovations that shaped this role, and to lay out prospective ways in which exchanges will continue to shape the global economy in the future. Opening with key conceptual essays by leading academics, Regulated Exchanges examines the historical contribution of exchanges to the world''s economic growth, exchanges'' economic importance, and the regulatory characteristics of the space in which exchanges operate. The volume then presents essays on several defining milestones in the history of exchanges written by leading figures that took part in that very history, showing the interaction between the founding of exchanges, local cultures, and world financial markets. The book appropriately closes with a look forward, examining the competitive landscape and the exciting and promising future of regulated exchanges. Offering an unparalleled collection of perspectives from leading academics and practitioners involved in the history of exchanges, Regulated Exchanges sheds a brilliant and welcome light on how exchanges have influenced and fostered successful financial markets, and how they will do so for many years to come.Trade ReviewExchanges always should keep in mind their essential role-to facilitate the channelling of savings towards productive investment-which, as repeatedly has been demonstrated, is of the utmost relevance for economic development, and thus for the welfare of humankind. The hopes of millions of families, and the business projects of thousands of companies, have passed throughout the engines of our institutions: from the overseas trading companies in the seventeenth century to the construction of the railways in the nineteenth, to the design and deployment of modern telecommunications networks that connect the world in this still fresh millennium. * From the preface by Pedro Rodriguez Ponga, former President of the Bolsa de Madrid and former Chairman of the World Federation of Exchanges *Table of ContentsEDITOR'S INTRODUCTION - LAWRENCE HARRIS, EDITOR-IN-CHIEF, UNIVERSITY OF SOUTHERN CALIFORNIA MARSHALL SCHOOL OF BUSINESS; FORWARD AND ACKNOWLEDGEMENTS - WILLIAM J. BRODSKY, CHAIRMAN, WORLD FEDERATION OF EXCHANGES; CHAIRMAN, CHICAGO BOARD OPTIONS EXCHANGE AND THOMAS KRANTZ, SECRETARY GENERAL, WORLD FEDERATION OF EXCHANGES; PREFACE - PEDRO RODRIGUEZ PONGA, PAST PRESIDENT, BOLSA OF MADRID AND PAST CHAIRMAN, WFE; NICKY NEWTON-KING, DEPUTY CEO, JOHANNESBURG STOCK EXCHANGE AND SIOBHAN CLEARY, SENIOR MANAGER, JOHANNESBURG STOCK EXCHANGE; APPENDIX: WFE MEMORABILIA; INDEX
£68.00
Oxford University Press, USA Law Psychology and Morality
Book SynopsisKahneman and Tversky''s Prospect Theory posits that people do not perceive outcomes as final states of wealth or welfare, but rather as gains or losses in relation to some reference point. People are generally loss averse, meaning that the disutility generated by a loss is greater than the utility produced by a commensurate gain. Loss aversion is related to psychological phenomena such as the status quo and omission biases, the endowment effect, and escalation of commitment.Law, Psychology, and Morality: The Role of Loss Aversion systematically analyzes the complex relationships between loss aversion and the law weaving together insights from cognitive and social psychology, neuropsychology, behavioral economics, experimental legal studies, economic analysis of law, normative ethics, moral psychology, and comparative law. It discusses diverse legal issues in private and public law, national and international law, and substantive and procedural law. Eyal Zamir provides an overview of thTrade ReviewEyal Zamir's book is an astonishing accomplishment of scholarship. It will be an indispensable reference in the discussion of psychology, morality and the law. * Daniel Kahneman, Senior Scholar; Eugene Higgins Professor of Psychology, Emeritus; and Professor of Psychology and Public Affairs, Emeritus, Woodrow Wilson School, Princeton University *An excellent and eye-opening book, packed with insights into law, policy, morality, and psychology. Loss aversion is one of the very few most important findings in the last decades of behavioral science. Zamir has produced the best treatment, by far, of its relevance to law. * Cass R. Sunstein, Robert Walmsley University Professor, Harvard University *If a behavioral trait is real and important, chances are the law knew it all along. But without interdisciplinary expertise, the law lacks a language. Doctrine does not establish the links between seemingly remote phenomena that happen to have a common behavioral cause. In his fascinating, thought provoking book, Eyal Zamir demonstrates how many legal institutions react to, exploit or mold the propensity to evaluate outcomes against a reference point, rather than 'objective' values. * Christoph Engel, Max-Planck-Institute for Research on Collective Goods, Bonn *Eyal Zamir masterfully analyzes and explains how the seminal research by Amos Tverksy and Daniel Kahneman on judgment and choice should affect our understanding of the way law has evolved and how legal rules should be rethought. Law, Psychology, and Morality is a must read for anyone who cares about the relationship between how we humans think and act and the type of rules we create to organize our societies. * Russell Korobkin, Richard C. Maxwell Professor of Law, UCLA *Table of ContentsAcknowledgments ; Introduction ; Part I: The Psychology of Loss Aversion ; Chapter 1. Loss Aversion: An Overview ; A. Introduction ; B. A Brief History ; C. Prospect Theory ; D. Reference Points ; E. Alternative Theories, Limitations, and Critique ; F. Empirical Studies ; G. Loss Aversion and Emotions ; H. Related Phenomena ; I. Professional Decisionmaking ; J. Group Decisionmaking ; K. Debiasing Loss Aversion? ; L. Evolutionary Roots and Neural Basis ; M. Impact on Other Disciplines ; N. Conclusion ; Part II: Understanding Human Behavior in Legal Contexts ; Chapter 2. Consumer Behavior ; A. Introduction ; B. Framing Prices and Other Attributes ; C. Limited Availability ; D. Escalation of Commitment ; E. Lenient Return Policies and the Endowment Effect ; F. Status Quo and Omission Biases ; G. Conclusion Impact on Other Disciplines ; Chapter 3. The Market for Legal Services: Contingent Fees ; A. Introduction ; B. The Puzzle ; C. Loss Aversion and Plaintiffs' Preferences ; D. Loss Aversion and Defendants' Preferences ; E. Conclusion ; Chapter 4. Litigation and Settlement ; A. Introduction ; B. Standard Economic Analysis ; C. Framing Litigation Outcomes and Risk Attitude ; D. Settlement, Regret, and Loss Aversion ; E. Default Effect and Alternative Dispute Resolution ; F. A Note on Plea Bargains ; G. Conclusion ; Part III: Framing by the Law ; Chapter 5. Legally Induced Reference Points ; A. Introduction ; B. Default Rules ; C. Burden of Persuasion ; D. Legal Reforms and Temporary Legislation ; E. Conclusion ; Part IV: Loss Aversion and Basic Features of the Law ; Chapter 6. Correspondence between Loss Aversion and the Law ; A. Introduction ; B. Private Law: Tort vs. Unjust Enrichment ; C. Contract Remedies: Expectation vs. Disgorgement ; D. Constitutional Property Law: Takings vs. Givings ; E. Criminal Law: Necessity and Bad Samaritan Laws ; F. Human Rights: Civil and Political vs. Social and Economic ; G. Civil Rights: Affirmative Action ; H. Refugee and Immigration: Denying Entrance vs. Expelling ; I. Tax Law: Tax Exemptions and Tax Withholding ; J. Evidence Law: Burden of Proof in Civil Litigation ; K. Civil Procedure: Preliminary Injunctions ; L. Conclusion ; Chapter 7. Evolutionary Theories ; A. Introduction ; B. Efficiency-of-the-Common-Law Theories ; C. Loss Aversion and the Plaintiffs' Role ; D. Assessment and Conclusion ; Chapter 8. Cognitive Psychology, Commonsense Morality, and the Law ; A. Introduction ; B. Deontology ; C. Moderate Deontology and Commonsense Morality ; D. Deontology, Commonsense Morality, and Loss Aversion ; E. Commonsense Morality and Law ; F. Moral and Evolutionary Psychology ; G. Conclusion ; Part V: Normative Analysis ; Chapter 9. Loss Aversion: Normative Implications ; A. Introduction ; B. Preliminary Issues ; C. Justifying Basic Features of Extant Law ; D. Legal Policymaking ; E. Legal Decisionmakers' Loss Aversion ; F. Conclusion ; Conclusion ; Index
£94.50
The University of Chicago Press Financial Markets Volatility and Performance in
Book SynopsisCapital mobility is a double-edged sword for emerging economies, as governments must weigh the benefits of investment against the potential economic costs and political consequences of currency crises, devaluations, and instability. This book addresses the balance between capital mobility and capital controls.
£174.34
The University of Chicago Press The Total Incomes System of Accounts
Book SynopsisConventional measures of national income and product and its components have proved enormously useful as indexes of economic activity and as the empirical foundations of much of macroeconomic analysis. Robert Eisner's The Total Incomes System of Accounts (TISA) brings critical new dimensions to those measures. It offers systematic extensions and expansions in an effort to count all of the output that goes into economic well-being, now and in the future. Eisner counts nonmarket as well as market production, including vast amounts of services produced by housewives and others in the home, capital formation by government and households as well as business, human and intangible capital invested in education, R&D, and health care, as well as tangible capital. He offers measures of net revaluations of tangible assets, redefines the critical boundaries between final and intermediate outputs, and presents separate sector accounts for business, nonprofit institutions, government, government ent
£64.00
The University of Chicago Press Taxes Capital Formation NBERProject Reports
Book SynopsisEconomists have long recognized the importance of capital accumulation for productivity and economic growth. The National Bureau of Economic Research is currently engaged in a study of the relationship between such accumulation and taxation policies, with particular focus on saving, risk-taking, and corporate investment in the United States and abroad. The papers presented in Taxes and Capital Formation are accessible, nontechnical summaries of fourteen individual research projects within that study. Complete technical reports on this research are published in a separate volume, The Effects of Taxation on Capital Accumulation, also edited by Martin Feldstein. By addressing some of the most critical policy issues of the day with a minimum of economic jargon, Taxes andCapital Formation makes the results of Bureau research available to a wide audience of policy officials and staff as well as to members of the business community. The volume should also prove useful for courses in public po
£36.03
University of Chicago Press Capital and Interest
Book Synopsis
£48.00
The University of Chicago Press Banking on Words
Book SynopsisIn this provocative look at one of the most important events of our time, renowned scholar Arjun Appadurai argues that the economic collapse of 2008-while indeed spurred on by greed, ignorance, weak regulation, and irresponsible risk-taking-was, ultimately, a failure of language. To prove this sophisticated point, he takes us into the world of derivative finance, which has become the core of contemporary trading and the primary target of blame for the collapse and all our subsequent woes. With incisive argumentation, he analyzes this challengingly technical world, drawing on thinkers such as J. L. Austin, Marcel Mauss, and Max Weber as theoretical guides to showcase the ways language-and particular failures in it-paved the way for ruin. Appadurai moves in four steps through his analysis. In the first, he highlights the importance of derivatives in contemporary finance, isolating them as the core technical innovation that markets have produced. In the second, he shows that derivatives a
£76.00
University of Chicago Press Monetary Policy with Very Low Inflation in the
Book SynopsisExplores the factors that have contributed to low inflation and deflation in Pacific Rim nations and forecasts some of the potential challenges faced by these nations, as well as some potential solutions. Rapid growth on the supply side of economics is one of the phenomena that have contributed to these circumstances.
£100.00
University of Chicago Press Financial Deregulation Integration in East Asia
Book SynopsisWhile financial deregulation has taken place worldwide, this pattern is most pronounced in East Asia, where it has influenced the behaviour of exchange rates, interest rates and capital flows. This text analyzes the effects of financial deregulation and integration on East Asian markets.
£115.00
The University of Chicago Press International Bankruptcy The Challenge of
Book SynopsisA look at bankruptcy laws in international perspective, highlighting the difficulties presented by global multinational corporations.Trade Review"With engaging real-life examples of the major corporate and financial collapses, International Bankruptcy puts the issues clearly in context, bringing home to readers just how difficult it may be to resolve issues in this area. An invaluable addition to the literature in the field, the book is filled with clear, accessible, and practical insights."--Paul J. Omar, De Montfort University
£61.75
The University of Chicago Press Capital in the Nineteenth Century National Bureau
Book Synopsis
£53.20
The University of Chicago Press Public Policies Household Saving NBERProject
Book SynopsisIn order to understand savings programmes, this volume provides a description of savings policies in the G-7 industrialized nations. A core of topics are discussed which include types of accumulated household savings and debt, and tax policies toward capital income.Table of ContentsIntroduction James M. Poterba 1 Government Saving Incentives in the United States James M. Poterba 2 Government Incentives and Household Saving in Canada John B.Burbidge and James B. Davies 3 Taxation and Personal Saving Incentives in the U.K. James Banks and Richard Blundell 4 Savings in Germany Axel Börsch-Supan 5 Government Incentives and Household Saving in Italy Tullio Jappelli and Marco Pagano 6 Public Policies and Household Saving in Japan Takatoshi Ito and Yukinobu Kitamura 7 Public Policies and Household Saving in France Denis Fougère
£58.00
University of Chicago Press International Comparisons of Household Saving
Book SynopsisTo aid understanding of why saving rates differ across countries, this volume provides analyses of patterns of household saving behaviour in the G7 nations, except France. Micro data sets within each country and statistics on patterns of saving by age, income and other factors are included.Table of ContentsAcknowledgments Introduction 1 James M. Poterba 1: Household Data on Saving Behavior in Canada 11 John B. Burbidge, James B. Davies. 2: Personal Saving in the United States 57 Orazio P. Attanasio 3: Household Saving Behavior in Japan 125 Noriyuki Takayama, Yukinobu Kitamura. 4: Household Saving Behavior in the United Kingdom 169 James Banks, Richard Blundell. 5: Savings in Germany - Part 2: Behavior 207 Axel Borsch-Supan 6: Personal Saving in Italy 237 Tullio Jappelli, Marco Pagano. Contributors 269 Author Index 271 Subject Index 273
£70.00
The University of Chicago Press Studies in State Local Public Finance
Book SynopsisIn fiscal year 1981-82, state and local government spending actually exceeded federal nondefense spending. However, past research in public finance has focused on federal spending and policies and paid little attention to the economic problems of state and local governments. Studies in State and Local Public Finance goes far in correcting this omission. Developed from a National Bureau of Economic Research conference on state and local financing, the volume includes papers summarizing and extending recent research as well as commentaries. Covering a wide range of topics, the papers share an empirical orientation and a concern with policy issues. The first two papers look at the role of tax-exempt bonds in local public finance. Their findings suggest that tax policies significantly affect municipal borrowing practices and that financial advantage can be achieved under certain of these practices. Other papers address specific issues related to state and local tax policy: the impact of lo
£60.00
The University of Chicago Press Capital in the Nineteenth Century
Book SynopsisTrade Review" The book will be an invaluable reference work for students of U.S. economic history." * Business Economics *Table of ContentsForeword Preface Chapter 1. Robert Gallman’s Capital Stock Project Chapter 2. Gallman’s Core Capital Stock Data Chapter 3. The United States Capital Stock, 1840–1900 Chapter 4. Capital and American Economic Growth, 1774–1980 Chapter 5. Gallman’s Annual Product Series, 1834–1909 Chapter 6. Investment Flows and Capital Stocks Chapter 7. Agriculture Chapter 8. Mining and Manufacturing Chapter 9. Nonfarm Real Estate and Trade Chapter 10. Transportation Chapter 11. Communication and Electric Utilities Chapter 12. Inventories Chapter 13. Consumer Durables Chapter 14. Wealth in the Colonial and Early National Periods Chapter 15. Wrapping Up Notes References Index
£30.40
Tellwell Talent How to Get a Sponsorship NonProfit Edition
Book Synopsis
£12.88
Palgrave Macmillan Creative Accounting Exposed
Book SynopsisContents Revenue Recognition Stock Options: The Great Accounting Fallacy Off-Balance-Sheet Financing Risk Coverage, Derivatives and Hybrid Instruments Recognition of expenses, balance sheet alterations, cash flow and quality of earnings Subjectivness in the Consolidation of Companies Creative Accounting in Public and Private Entities Bibliography IndexTable of ContentsContents Revenue Recognition Stock Options: The Great Accounting Fallacy Off-Balance-Sheet Financing Risk Coverage, Derivatives and Hybrid Instruments Recognition of expenses, balance sheet alterations, cash flow and quality of earnings Subjectivness in the Consolidation of Companies Creative Accounting in Public and Private Entities Bibliography Index
£85.49
Palgrave Macmillan Monetary Economics An Integrated Approach to
Book SynopsisLocating literature at the intersection of distinct areas of thinking on the nature, scope and methods of knowledge philosophy, theology, science, and the law this book engages with literary texts across periods and genres to address questions of probability, problems of evidence, the uses of experiment and the poetics and ethics of doubt.Trade Review'The framework that Godley and Lavoie develop, with a consistent numerical and simulational handle on the various models, is a return to a majestic Wicksellian tradition A whole generation of graduate students have been brought up on policy nihilism, bordering on paralysis in the face of policy dilemmas. A new generation, armed with the tools, concepts and models developed by Godley and Lavoie, can now return to the grand traditions of macroeconomics as an experimental science, focusing on policy.' - K. Vela Velupillai, Fellow, Girton College, Cambridge, UK, and Professor of Economics, University of Trento, Italy 'Wynne Godley has been the moving force behind keeping quantitative non-mainstream macroeconomics alive and flourishing for the last several decades...His work is inspiring, and will guide policy-oriented macroeconomic modellers for decades to come.' - Lance Taylor, Cambridge Journal of Economics '...[This] clearly deserves to become a standard reference for everybody interested in SFC modelling in particular and modern macroeconomics in general. There are already first signs that other economists are indeed inspired by this way of thinking about the economy...' - Till van Treeck, Intervention, European Journal of Economics and Economic PoliciesTable of ContentsIntroduction Balance Sheets, Transaction Matrices and The Monetary Circuit The Simplest Model with Government Money Government Money with Portfolio Choice Long-Term Bonds, Capital Gains and Liquidity Preference Introducing the Open Economy A Simple Model with Private Bank Money Time, Inventories, Profits and Pricing A Model with Private Bank Money, Inventories and Inflation A Model with both Inside and Outside Money A Growth Model Prototype Open Economy with Flexible Prices and Exchange Rates General Conclusion
£89.99
Bloomsbury Publishing PLC Personal Finance
Book SynopsisGEORGE CALLAGHAN Lecturer in Economics at The Open University, UK.IAN FRIBBANCE Lecturer in Economics at The Open University, UK.MARTIN HIGGINSON Lecturer in Economics at The Open University, UK.Trade Review'The text will definitely appeal to students. It is very well written and very engaging.' - Chris Veld, Professor of Finance, University of Glasgow 'It has a good mix of academic and practical in an important new field. Content and style both work very well. It doesn't really have any competition.' - Karen Rowlingson, Professor of Personal Finance, University of Birmingham 'Covers most of the ground one would expect (bar international perspectives), reasonably priced and arguably has an opportunity to dominate this field as there is currently a lack of competition in the way of compendium texts dedicated to personal finance.' - Chris Deeming, Senior Research Fellow, University of Bristol 'This is the best book on the market just now and is the one most likely to engage not only undergraduates, but well educated members of the general public who need to become financially literate.' - James Mallon, Lecturer in Financial Services, Edinburgh Napier UniversityTable of ContentsContributors Foreword Acknowledgements Introduction Setting the Context; A.Shipman Income; G.Callaghan Expenditure and Budgeting; M.Higginson Debt; M.Upton Savings and Investments; J.Lowe & J.Rutterford Housing and the Financial Balance Sheet; G.Callaghan & I.Fribbance Pensions; J.Lowe Sharing and Caring; S.Himmelweit Insurance and Life Events; I.Fribbance Personal Finance: the Changing Context; G.Callaghan & M.Higginson Glossary Index.
£61.74
Palgrave Macmillan The Future of Private Equity
Book SynopsisIntroduction PART I An Industry at a Crossroads Jon Moulton, Chairman, Better Capital LLP Nick Ferguson, Chairman, SVG Capital John Hess, Chief Executive Officer, Altius Associates Limited Jeremy Coller, Partner and Chief Investment Officer, Coller Capital PART II Developed Markets Ajit Nedungadi, Managing Director, TA Associates L.P. Steve Klinsky, Managing Director, Founder and Chief Executive Officer, New Mountain Capital Wol Kolade, Managing Partner, ISIS Equity Partners Matthew Collins, Founding Partner, Hutton Collins Garry Wilson, Managing Partner, Endless LLP PART III Emerging Markets Derek Sulger, Partner, Lunar Capital Management Niten Malhan, Managing Director, Warburg Pincus LLP Martin Escobari, Managing Director, Advent International Mark Goldsmith, Director and Head of Environmental and Social Governance, Actis Rod Evison, Managing Director, Africa, CDC Group Hurley Doddy, Co-Chief Executive Officer, Emerging Capital Partners Mustafa Abdel-Wadood, Chief ExecutTable of ContentsIntroduction PART I An Industry at a Crossroads Jon Moulton, Chairman, Better Capital LLP Nick Ferguson, Chairman, SVG Capital John Hess, Chief Executive Officer, Altius Associates Limited Jeremy Coller, Partner and Chief Investment Officer, Coller Capital PART II Developed Markets Ajit Nedungadi, Managing Director, TA Associates L.P. Steve Klinsky, Managing Director, Founder and Chief Executive Officer, New Mountain Capital Wol Kolade, Managing Partner, ISIS Equity Partners Matthew Collins, Founding Partner, Hutton Collins Garry Wilson, Managing Partner, Endless LLP PART III Emerging Markets Derek Sulger, Partner, Lunar Capital Management Niten Malhan, Managing Director, Warburg Pincus LLP Martin Escobari, Managing Director, Advent International Mark Goldsmith, Director and Head of Environmental and Social Governance, Actis Rod Evison, Managing Director, Africa, CDC Group Hurley Doddy, Co-Chief Executive Officer, Emerging Capital Partners Mustafa Abdel-Wadood, Chief Executive Officer, Abraaj Capital Limited, and Tom Speechley, Chief Executive Officer, Riyada Enterprise Development Hisham El-Khazindar, Co-Founder and Managing Director, Citadel Capital Limited Conclusions
£58.49
MP-IMF International Monetar Rapid Credit Growth In Central And Eastern Europ
Book SynopsisThis book represents the latest developments and policy debate on the rapid growth of banking sector credit to the private sector, which continues to occupy the minds of academics and policymakers alike in many Central and Eastern European countries. The contributions discuss ways to assess and respond to excessive credit growth.Table of ContentsPART I: Assessing and Managing Rapid Credit Growth in Central and Eastern Europe; C.Enoch The Causes and Nature of Rapid Growth of Bank Credit in the Central, Eastern, and South Eastern European Countries; C.Arcalean, O.Calvo-Gonzalez, C.Móré, A.van Rixtel, A.Winkler & T.Zumer Using Fundamentals to Identify Episodes of 'Excessive' Credit Growth in Central and Eastern Europe; F.Boissay, O.Calvo-Gonzalez & T.Kozluk Fast Credit Expansion in Central and Eastern Europe: Catching Up, Sustainable Financial Deepening, or Bubble?; P.Backé, B.Égert & T.Zumer Analysis of and Policy Responses to Rapid Credit Growth; P.Hilbers, I.Ötker-Robe & C.Pazarbasioglu Rapid Credit Growth - The Role of Supervisors; M.Josefsson PART II: Assessing and Managing Rapid Credit Growth - Country Experiences Credit Growth Slow Down: The Experience of Bulgaria; V.Petkova & S.Manolov Croatian Experience with Rapid Credit Growth; M.Lang Estonia's Experience with Rapid Credit Growth; R.Lättemäe Latvia's Experience with Rapid Credit Growth; U.Rutkaste Assessment of Credit Growth in Lithuania; T.Ramanauskas Poland's Experiences with Rapid Credit Growth - The 1996-1997 Episode; P.Szpunar Growth of Non-Government Credit and Macroeconomic Developments: The Case of Romania; C.Popa Slovakia: Credit Growth in the Household Sector and Response to the Related Risks; M.Licák Too Much of a Good Thing? Credit Booms in Transition Economies: The Cases of Bulgaria, Romania, and Ukraine; C.Duenwald, N.Gueorguiev & A.Schaechter PART III: Regional Dimensions of Rapid Credit Growth and Perspectives from Euro Convergence Countries The Role of Housing Markets and Foreign Owned Banks in the Credit Expansion in Central and Eastern Europe; D.Mihaljek Regional Dimensions of Dealing with Rapid Credit Growth: Perspectives from Greece, 1998-2005; N.Kamberoglou & N.Stavrianou Debt Growth: Factors, Institutional Issues and Implications - The Portuguese Case; N.Ribeiro The Growth of Private Sector Debt in Spain: Causes and Consequences; C.Martinez-Carrascal PART IV: Cross-Border Dimension: Supervisory Coordination Between Bank Supervisors Cross-Border Supervisory Cooperation; K.Zartl Home Country Perspective: The Role of Cross Border Supervisory Coordination when Dealing with Rapid Credit Growth in Emerging Countries - The Case for Cooperating Supervisors; L.van Goor Home and Host Supervisors' Relations - A Host Supervisor's Perspective; P.Bednarski & D.Starnowski PART V: Concluding Remarks Lessons from Country Experiences with Rapid Credit Growth in Europe and Policy Implications; C.Enoch & I.Ötker-Robe
£78.30
Columbia University Press Modern Capital Theory
Book Synopsis'
£67.20
Columbia University Press Alexander Hamilton on Finance Credit and Debt
Book SynopsisThis book traces the development of Alexander Hamilton’s financial thinking, policies, and actions through a selection of his writings. The financial historians and Hamilton experts Richard Sylla and David J. Cowen provide commentary that demonstrates the impact Hamilton had on the modern economic system.Trade ReviewHamilton’s writings always impress for their clarity of argument and, especially, for their prescient vision of the future of the American economy. Thanks to Richard Sylla and David J. Cowen for reminding us of that. -- Ben Bernanke, former chairman of the Board of Governors of the Federal Reserve SystemAlexander Hamilton was the architect of the American financial system that endures to this day, making his founding-era writings on topics such as the national debt, trade, foreign investment, and central banking both resonant and relevant to contemporary readers. Sylla and Cowen provide helpful historical context, but they largely let Hamilton’s genius speak for itself. From short essays that resemble the modern op-ed to legal documents to his reports to Congress as Treasury Secretary, the book offers a compelling window into Hamilton’s visionary thinking on economic matters. -- Robert E. Rubin, co-chair emeritus, Council on Foreign Relations, and former U.S. Treasury SecretarySeen the musical? Now read Hamilton’s original letters setting out his vision for the financial revolution that created today’s American economy—all excellently and helpfully edited by Richard Sylla and David J. Cowen. -- Lord Mervyn King, former Governor of the Bank of EnglandSylla and Cowen make clear to readers that Hamilton had a solid historical foundation and a farsighted vision for his policy prescriptions. Without their expert guidance, this structure would often be missed even if one were to read through a larger set of writings. I could not imagine a better team to write this book. -- Matthew Jaremski, Colgate UniversityThis is undoubtedly a treasure trove for financial and public policy geeks, and the book will also help lay readers go beyond the hit musical in understanding Hamilton’s lasting significance. * Publishers Weekly *A fascinating examination of Hamiltonian economics. * Washington Times *Table of ContentsAcknowledgmentsIntroduction: Hamilton and the U.S. Financial Revolution 1. To — (December 1779–March 1780) 2. To James Duane (September 3, 1780)3. To Robert Morris (April 30, 1781)4. The Continentalist (1781–1782)5. Constitution of the Bank of New York (February 23–March 15, 1784)6. To Thomas Willing (September 13, 1789) 7. Report Relative to a Provision for the Support of Public Credit (January 9, 1790)8. To Wilhem and Jan Willink, Nicholaas and Jacob Van Staphorst, and Nicholas Hubbard (August 28, 1790)9. First Report on the Further Provision Necessary for Establishing Public Credit (December 13, 1790)10. Second Report on the Further Provision Necessary for Establishing Public Credit (Report on a National Bank, December 14, 1790) 11. Report on the Establishment of a Mint (January 28, 1791)12. Opinion on the Constitutionality of an Act to Establish a National Bank (February 23, 1791)13. Prospectus of the Society for Establishing Useful Manufactures (August 1791)14. Report on the Subject of Manufactures (December 5, 1791)15. Letters to William Seton (February 10 and March 22, 1792)16. Report on a Plan for the Further Support of Public Credit (January 16, 1795)17. The Defense of the Funding System (July 1795)18. Articles of Association of the Merchants Bank (April 7, 1803)19. Conclusion: Legacies of the U.S. Financial Revolution NotesIndex
£22.50
Columbia University Press Alexander Hamilton on Finance Credit and Debt
Book SynopsisThis book traces the development of Alexander Hamilton’s financial thinking, policies, and actions through a selection of his writings. The financial historians and Hamilton experts Richard Sylla and David J. Cowen provide commentary that demonstrates the impact Hamilton had on the modern economic system.Trade ReviewHamilton’s writings always impress for their clarity of argument and, especially, for their prescient vision of the future of the American economy. Thanks to Richard Sylla and David J. Cowen for reminding us of that. -- Ben Bernanke, former chairman of the Board of Governors of the Federal Reserve SystemAlexander Hamilton was the architect of the American financial system that endures to this day, making his founding-era writings on topics such as the national debt, trade, foreign investment, and central banking both resonant and relevant to contemporary readers. Sylla and Cowen provide helpful historical context, but they largely let Hamilton’s genius speak for itself. From short essays that resemble the modern op-ed to legal documents to his reports to Congress as Treasury Secretary, the book offers a compelling window into Hamilton’s visionary thinking on economic matters. -- Robert E. Rubin, co-chair emeritus, Council on Foreign Relations, and former U.S. Treasury SecretarySeen the musical? Now read Hamilton’s original letters setting out his vision for the financial revolution that created today’s American economy—all excellently and helpfully edited by Richard Sylla and David J. Cowen. -- Lord Mervyn King, former Governor of the Bank of EnglandSylla and Cowen make clear to readers that Hamilton had a solid historical foundation and a farsighted vision for his policy prescriptions. Without their expert guidance, this structure would often be missed even if one were to read through a larger set of writings. I could not imagine a better team to write this book. -- Matthew Jaremski, Colgate UniversityThis is undoubtedly a treasure trove for financial and public policy geeks, and the book will also help lay readers go beyond the hit musical in understanding Hamilton’s lasting significance. * Publishers Weekly *A fascinating examination of Hamiltonian economics. * Washington Times *Table of ContentsAcknowledgmentsIntroduction: Hamilton and the U.S. Financial Revolution 1. To — (December 1779–March 1780) 2. To James Duane (September 3, 1780)3. To Robert Morris (April 30, 1781)4. The Continentalist (1781–1782)5. Constitution of the Bank of New York (February 23–March 15, 1784)6. To Thomas Willing (September 13, 1789) 7. Report Relative to a Provision for the Support of Public Credit (January 9, 1790)8. To Wilhem and Jan Willink, Nicholaas and Jacob Van Staphorst, and Nicholas Hubbard (August 28, 1790)9. First Report on the Further Provision Necessary for Establishing Public Credit (December 13, 1790)10. Second Report on the Further Provision Necessary for Establishing Public Credit (Report on a National Bank, December 14, 1790) 11. Report on the Establishment of a Mint (January 28, 1791)12. Opinion on the Constitutionality of an Act to Establish a National Bank (February 23, 1791)13. Prospectus of the Society for Establishing Useful Manufactures (August 1791)14. Report on the Subject of Manufactures (December 5, 1791)15. Letters to William Seton (February 10 and March 22, 1792)16. Report on a Plan for the Further Support of Public Credit (January 16, 1795)17. The Defense of the Funding System (July 1795)18. Articles of Association of the Merchants Bank (April 7, 1803)19. Conclusion: Legacies of the U.S. Financial Revolution NotesIndex
£12.59
Columbia University Press The Spectacle of Expertise
Book SynopsisAlex Preda provides an ethnographic exploration of how financial expertise is performed and produced in the media, analyzing its features and how audiences react to it. He examines how analysts, anchors, and producers collaborate in manufacturing financial talk that circulates around the world.Trade ReviewThis is easily the most original book in the sociology of finance that I have read in many years. Preda singles out financial expert talk by academics, analysts, and financial journalists, showing how it is interactionally produced and performed, and how it invades the public sphere and influences how finance is understood. This book should not be missed by sociologists of finance and financial economists. It is also a must read for science communication generally, expert studies and media studies—and for practitioners, seeking to look into a mirror of their practice. -- Karin Knorr Cetina, author of Epistemic Cultures: How the Sciences Make KnowledgeHow are we ever going to make sense of our world after the 2008 crash without understanding what financial experts think they are doing? Reaching into all the latest research on, and analysis of expertise, Alex Preda tells us what is going on when financial experts present themselves in the media. -- Harry Collins, coauthor of Why Democracies Need ScienceTalk is fundamental to how human beings interact, and what we say about money and finance matters. Focusing on Hong Kong's TV and radio studios, and employing his trademark combination of ethnographic insight and sharp sociological analysis, Preda throws important new light on financial talk, its nuances, and its audiences. -- Donald MacKenzie, author of Trading at the Speed of Light: How Ultrafast Algorithms Are Transforming Financial MarketsWritten in clear prose, Preda’s ethnography moves easily between theory and evidence. * Social Forces *Table of ContentsIntroduction1. What Is Financial Expertise?2. Talk, Spectacle, and Expertise3. The Organization of Expert Talk4. Strategic Facework: The Expert Presentation of Experts5. Unfaultable Talk6. Talk and Truth7. Managing AudiencesConclusionAppendix 1. Hong Kong as a Global Financial CenterAppendix 2. Ethnographic MethodsAcknowledgmentsNotesReferencesIndex
£93.60
Penguin Books Ltd Going Infinite
Book Synopsis*INSTANT SUNDAY TIMES BESTSELLER**NO. 1 NEW YORK TIMES BESTSELLER*Extraordinary' The ObserverA stupefyingly pleasurable book to read' New YorkerLewis's storytelling is as good as ever' The EconomistFrom the #1 bestselling author of The Big Short and Flash Boys, the high-octane story of the enigmatic figure at the heart of one of the 21st century''s most spectacular financial collapses''I asked him how much it would take for him to sell FTX and go do something other than make money. He thought the question over. One hundred and fifty billion dollars, he finally said-though he added that he had use for infinity dollars...''Sam Bankman-Fried wasn''t just rich. Before he turned thirty he''d become the world''s youngest billionaire, making a record fortune in the crypto frenzy. CEOs, celebrities and world leaders vied for his time. At one point he consideTrade ReviewGoing Infinite is insanely readable and I devoured it, marvelling at Lewis’s ability to pace, structure and humanise a story about something as dense and unfriendly as crypto… As with previous outings such as Moneyball (nerdy baseball stats), The Big Short (credit default swaps), and Flash Boys (high-frequency trading), Going Infinite shows off Lewis’s peculiar genius for making arcane information as transporting as fantasy fiction. * Guardian *Going Infinite is a stupefyingly pleasurable book to read. It’s perfectly paced, extremely funny, and fills in many gaps in a story that has been subjected to an unholy amount of reporting... What he began with Moneyball has come into full flower with Going Infinite. Lewis has surveyed a landscape taken by convention as settled and found it destabilized, at least here and there, by uneven and unreliable information. Perhaps Lewis’s book should encourage an update, however minuscule, in our own priors. * New Yorker *Going Infinite is a portrait of grandiose ambitions, youthful arrogance, and the distorting power of money... [Lewis] remains the greatest living exponent of the plain style in reporting. His eye for detail is unsurpassed... And as a chronicle of collective delusion - a modern version of the Dutch tulip mania - Going Infinite is an instant classic... Michael Lewis deserves huge credit for capturing [SBF] in all his infinite weirdness... Mark Zuckerberg, another boy genius in ratty shoes, once described Twitter as a clown car that fell into a gold mine. Sam Bankman-Fried was a Seth Rogen character who fell into a tulip field circa 1634. Another one will be along in a minute. We never learn. * The Atlantic *Going Infinite is in many ways Lewis at his best. He marshals a complex global story without losing sight of the delightful and revealing human details. He is a world-class noticer … Lewis is a generous writer with a humane intelligence, and it is to his credit that he doesn’t reach for easy cynicism or cheap effects. -- Jesse Armstrong * TLS *Lewis’ storytelling is as good as ever… In the past, Mr Lewis has focused on little-known people doing extraordinary things. This time his subject is notorious… Mr Bankman-Fried’s hyper-rationality sets him apart from everyone. He views people not as good or bad, but as “probability distributions” around a mean… By tolerating the idea that hyper-rationalists cannot make sense of the rules of the game the way most people do, Mr Lewis implicitly asks readers to reconsider whatever they thought they knew about Mr Bankman-Fried. In the court of public opinion, he is already convicted. That’s reason enough to give this book a read. * The Economist *Going Infinite is wildly entertaining, surprising multiple times on pretty much every page, but it adds up to a sad story, even a tragedy, for its central character and for all the people who lost so much thanks to his actions… Lewis tries to answer the first question he was asked about Bankman-Fried: who was this guy? The question of his guilt or innocence Lewis leaves to the criminal justice system. I think that’s good practice, given that the trial is happening right now. For what it’s worth, I see no contradiction between the person described in Going Infinite and the things SBF is accused of having done. In fact I think the book makes it easier to understand how and why he did what he allegedly did. -- John Lanchester * London Review of Books *Michael Lewis has an uncanny instinct for a big story, and is now right in the thick of the action again... Reading Lewis can feel like being a passenger in an expertly piloted bobsleigh. You’re moving so fast down the mountain, but you know you’re going to be delivered safe and sound – hot chocolate waiting at the bottom. There is no need to stress, only to thrill to the scenery as it hurtles past. * New Statesman *In November 2022, FTX collapsed in a matter of days after it suffered billions of dollars in customer withdrawals, sending shockwaves through the crypto world. To make sense of all this, with perfect timing, comes Michael Lewis… Going Infinite is his superbly detailed picture of the man behind it... So where might the money have gone? We still don’t entirely know, though Lewis offers some preliminary balance sheet calculations — which remain more detailed than anything FTX ever published. * Evening Standard *Michael Lewis is the world’s finest financial storyteller… Going Infinite is at its best in describing Bankman-Fried’s rise… Lewis is equally sharp on how the effective altruism movement shifted its priorities, from donating to prevent disease and mortality in the global south to worrying about (putative) trillions of human lives across the galaxy in the distant future. * Daily Telegraph *When the stories of our times are told, there will be no more seminal documents than the books of Michael Lewis. * Guardian *I would read an 800-page history of the stapler if he wrote it. * New York Times Book Review *In the hands of Michael Lewis, anything is possible. * Sunday Times *He is so good everyone else may as well pack up. * Evening Standard *Life is what happens between Michael Lewis books. -- Michael Hofmann
£22.50
Institute of Economic Affairs Capital Controls
Book SynopsisFree capital movements played an important part in the economic integration and globalisation of the nineteenth century. This work analyses historical experience with capital controls, in Britain and elsewhere, and reviews the theory. It concludes that such controls are damaging and that there is no case for reviving them.
£9.50
MIT Press Ltd Capital Markets Institutions Instruments and
Book SynopsisThe substantially revised fifth edition of a textbook covering the wide range of instruments available in financial markets, with a new emphasis on risk management.Over the last fifty years, an extensive array of instruments for financing, investing, and controlling risk has become available in financial markets, with demand for these innovations driven by the needs of investors and borrowers. The recent financial crisis offered painful lessons on the consequences of ignoring the risks associated with new financial products and strategies. This substantially revised fifth edition of a widely used text covers financial product innovation with a new emphasis on risk management and regulatory reform. Chapters from the previous edition have been updated, and new chapters cover material that reflects recent developments in financial markets.The book begins with an introduction to financial markets, offering a new chapter that provides an overview of risk—including the
£112.50
MIT Press Capital Markets sixth edition
Book SynopsisThe comprehensively updated sixth edition of a leading textbook that examines the wide range of instruments available in financial markets, with new material on central banks, capital market technology, and financing markets for small businesses.Capital markets are an integral part of the financial system, and their evolution reflects a larger story of global financial change characterized by shifts in regulations, investor behavior, and technological advancements. Now in a comprehensively updated new edition, this widely used textbook examines the wide range of instruments for financing, investing, and controlling risk in today?s financial markets. The book begins with an introduction to financial markets, followed by a detailed examination of risk, including financial risk identification, quantification, and management. It then covers market participants, including a new chapter on central banks; fundraising markets, with a new chapter on financing markets for small businesses; risk and return theories; equity, debt, and derivatives markets; and capital market technologies, in a dedicated new section. Sixth edition highlights: ?Includes new chapters on central banks, capital market technologies, and financing markets for small businesses?Incorporates analysis of the role of technological innovation throughout?Offers broad coverage of all types of financial instruments, including cash and derivative instruments, as well as the risk management dilemmas confronted by major institutional investors ?Features rich pedagogy and resources, including end-of-chapter discussion questions and integrated online appendices
£124.20
MIT Press Ltd Comparing Financial Systems
Book SynopsisThe authors argue that the view that market-based systems are best is simplistic; a more nuanced approach is necessary.Financial systems are crucial to the allocation of resources in a modern economy. They channel household savings to the corporate sector and allocate investment funds among firms; they allow intertemporal smoothing of consumption by households and expenditures by firms; and they enable households and firms to share risks. These functions are common to the financial systems of most developed economies. Yet the form of these financial systems varies widely. In the United States and the United Kingdom competitive markets dominate the financial landscape, whereas in France, Germany, and Japan banks have traditionally played the most important role.Why do different countries have such different financial systems? Is one system better than all the others? Do different systems merely represent alternative ways of satisfying similar needs? Is the current trend
£42.75
MIT Press Ltd An Engine Not a Camera How Financial Models Shape
Book SynopsisIn An Engine, Not a Camera, Donald MacKenzie argues that the emergence of modern economic theories of finance affected financial markets in fundamental ways. These new, Nobel Prize-winning theories, based on elegant mathematical models of markets, were not simply external analyses but intrinsic parts of economic processes.Paraphrasing Milton Friedman, MacKenzie says that economic models are an engine of inquiry rather than a camera to reproduce empirical facts. More than that, the emergence of an authoritative theory of financial markets altered those markets fundamentally. For example, in 1970, there was almost no trading in financial derivatives such as futures. By June of 2004, derivatives contracts totaling $273 trillion were outstanding worldwide. MacKenzie suggests that this growth could never have happened without the development of theories that gave derivatives legitimacy and explained their complexities.MacKenzie examines the role played by finance theory in
£30.40
Pearson Education Personal Financial Planning Theory and Practice
Book Synopsis
£37.49
Pearson Education Fundamentals of Financial Management
Book SynopsisJames C. Van Horne, Professor of Banking and Finance at Stanford University. Also the author of Financial Management and Policy, a Pearson Education text. John Wachowicz, Jr., Professor of Finance at The University of Tennessee. Table of Contents PART ONE: INTRODUCTION TO FINANCIAL MANAGEMENT 1. The Role of Financial Management 2. The Business, Tax and Financial Environments PART TWO: VALUATION 3. The Time Value of Money 4. The Valuation of Long-Term Securities 5. Risk and Return Appendix A: Measuring Portfolio Risk Appendix B: Arbitrage Pricing Theory PART THREE: TOOLS OF FINANCIAL ANALYSIS AND PLANNING 6. Financial Statement Analysis Appendix: Deferred Taxes and Financial Analysis 7. Funds Analysis, Cash-Flow Analysis, and Financial Planning Appendix: Sustainable Growth Modeling PART FOUR: WORKING CAPITAL MANAGEMENT 8. Overview of Working Capital Management 9. Cash and Marketable Securities Management 10. Accounts Receivable and Inventory Management 11. Short-Term Financing PART FIVE: INVESTMENT IN CAPITAL ASSETS 12. Capital Budgeting and Estimating Cash Flows 13. Capital Budgeting Techniques Appendix A: Multiple Internal Rates of Return Appendix B: Replacement Chain Analysis 14. Risk and Managerial Options in Capital Budgeting PART SIX: THE COST OF CAPITAL, CAPITAL STRUCTURE, AND DIVIDEND POLICY 15. Required Returns and the Cost of Capital Appendix A: Adjusting the Beta for Financial Leverage Appendix B: Adjusted Present Value 16. Operating and Financial Leverage 17. Capital Structure Determination 18. Dividend Policy PART SEVEN: INTERMEDIATE AND LONG-TERM FINANCING 19. The Capital Market 20. Long-Term Debt, Preferred Stock, and Common Stock Appendix: Refunding A Bond Issue 21. Term Loans and Leases Appendix: Accounting Treatment of Leases PART EIGHT: SPECIAL AREAS OF FINANCIAL MANAGEMENT 22. Convertibles, Exchangeables, and Warrants Appendix: Option Pricing 23. Mergers and Other Forms of Corporate Restructuring Appendix: Remedies for a Failing Company 24. International Financial Management
£64.99
Pearson Education Bookkeeping and Accounts for Entrepreneurs
Book SynopsisMartin Quinn is a full-time Lecturer in Accounting at Dublin City University, Dublin, Ireland. Previous to this he has eleven years experience in accounting and IT roles in the manufacturing sector. He is an Associate member of CIMA. He is also a registered PhD student at the University of Dundee aiming to complete his PhD in early 2009. He has contributed to two academic texts in the past two years: Drury, C. Management & Cost accounting, 7 edition 14 half page real world views McLaney & Atrill, Accounting, an introduction, 4 edition a series of key concepts for the MAL tool and a review of questions within MAL.Table of ContentsChapter 1 – Accounting fundamentals The nature, purpose and role of accounting Branches of accounting Accounting terms – assets, liabilities, income, expenditure etc Basic concepts – the business entity, underlying assumptions, accounting equation Users of accounting information and their needs – to include qualitative characteristics Chapter 2 – The business plan- Preparing a plan to present to a bank/financier Appreciation of costs and cost structures The concept of breakeven The basics of budgeting and planning Chapter 3 – Financing Sources of finance Financing options, costs, advantages/disadvantages Chapter 4 – Keeping the books Source documents and records Books of original entry Computerised entry Chapter 5 – Double entry accounting system Principles of the double-entry system Nominal and personal ledgers Control accounts – explanation and purpose The trial balance – preparation and purpose Chapter 6 – Income statement and Balance Sheet (sole trader) Preparation of basic income statement and balance sheet from trial balance Would introduce revenues, expenditures, accruals, depreciation, stock valuation Layout of the financial statements Chapter 7 – Accounts of limited companies Differences, additional requirements Chapter 8 – Cash Flow Statement Preparation of a cash flow statement Chapter 9 – Interpretation of financial statements Need to interpret accounts Usefulness and application of ratio analysis Main accounting ratios; relationships between ratios Chapter 10 – valuation of companies Book v market value Some simple valuation methods
£12.74
Pearson Education Financial Times Guide to Using and Interpreting
Book SynopsisTable of Contents Table of Contents Preface PART 1 WHAT INFORMATION WILL I FIND IN THE ACCOUNTS? 1 An introduction to the accounts2 The profit and loss account3 The balance sheet4 The cash flow statement5 The statement of total recognised gains and losses6 The note of historical cost profits and losses7 Other information found in the accounts8 International conventions – local GAPP, IFRS, emerging nations PART 2 HOW DO I ANALYSE THE ACCOUNTS?9 How do I analyse the accounts?10 Solvency11 Profitability12 Cash management13 The investor’s perspective14 Johnson Matthey PART 3 HOW CAN I USE MY ANALYSIS? 15 How can I use my analysis?16 Suppliers’ accounts17 Customers’ accounts18 Competitors’ accounts19 Identifying a company’s acquisition potential20 The availability of accounts Weblinks Index
£27.54
Pearson Education Mastering the ISDA Master Agreements
Book SynopsisAbout the author Paul Harding is a graduate of London University and has worked in several UK and foreign banks in London in credit, marketing and documentation roles. Since 1990 he has been involved with OTC derivatives documentation and was a well known negotiator in the City of London with Barclays Capital Securities Limited and Hill Samuel Bank Limited where he was head of Treasury Documentation. In February 1997 he founded Derivatives Documentation Limited (http://www.derivsdocu.com) , a derivatives consultancy and project management company based in the City of London and providing negotiation, recruitment and in-house and on-line training services in derivatives documentation. Its clients include many of the world's leading banks. Paul is also the author of Mastering Collateral Management and Documentation, written in conjunction with Christian Johnson, which was published iTable of ContentsChapter 1 Introduction to the global derivatives market (15 pages) -Size of market according to latest ISDA figures. -Estimated amount really at risk. -Main products -Main currencies. -Market users. -How a deal is done from start to finish. Chapter 2 Need for and evolution of the ISDA Master Agreement (9 pages) -Inefficiency in documenting each trade in the market's early days. -Documentation standardisation introduced by ISDA from 1985. -How ISDA documentation evolved. -Product Definitions -Confirmations -Master Agreement types. Chapter 3 Section by section clear analysis of the 1992 ISDA Master Agreement (95 pages). The idea is as before to have a block of ISDA Master Agreement text on one page and a clear explanation of it on the opposite page. ISDA is willing for Pearson to reproduce the 1992 ISDA Master Agreement in this format provided it pays the USD 5,000 licensing fee referred to in Section 2 above. Chapter 4 Section by section clear analysis of the 2002 ISDA Master Agreement (200 pages). Same format. ISDA is willing for Pearson to reproduce the 2002 ISDA Master Agreement in this format provided it pays the USD 5,000 licensing fee referred to in Section 2 above. Chapter 5 Legal issues relating to the ISDA Master Agreements (35 pages) UK issues -Gaming laws -Capacity and authority of transacting parties. -Ultra vires considerations. -the Hammersmith and Fulham case and local authorities as swaps counterparties. -Protection from case law and the 1985 Companies Act in the UK. -specialised entities e.g. insurance companies, pension funds, unit trusts, building societies. -The concept of suitability. -Enforceability of close-out netting and set-off. -Automatic Early Termination. -The ISDA collective legal opinions. -Third Party Rights. New section on US issues Chapter 6 Credit issues relating to the ISDA Master Agreements (15 pages) -Addition of Specified Entities. -Specified Indebtedness variations. -Downgrade from Cross Default to cross acceleration. -Threshold Amounts. -Credit Event Upon Merger variations. -Additional Termination Events. -Set Off -Transfers. -Political risk. -The “vanilla ISDA”. Chapter 7 Operational issues relating to the ISDA Master Agreements (8 pages) -Confirmations -Payments -Deliveries -Close out -Administrative matters. Chapter 8 A sample 1992 ISDA Master Agreement Schedule and accompanying commentary (up to 175 pages). Chapter 9 A sample 2002 ISDA Master Agreement Schedule and accompanying commentary (up to 30 pages) In each of these chapters the idea is to have a block of Schedule text on one page and a clear explanation of it on the opposite page. Chapter 10 Provisions for special entity types and those sought by US counterparties As per the first edition with some updating. (50 pages). To include new and additional commentary on loan-linked ISDAs, covered bond ISDAs and Hedge fund ISDAs. Chapters 8, 9 and 10 are the hub of the book because the Schedule is what negotiators actually negotiate and where they need core knowledge and awareness of possi
£118.75
Pearson Education Financial Times Guide to Corporate Valuation The
Book SynopsisAbout the authors: David Frykman is the CEO and owner of Fred Ventures, a private investment company. Previously, he was the CEO and main shareholder of Gymgrossisten (Nasdaq: GYM) and before that a Senior Vice President at Swedbank Markets Corporate Finance. David has also worked with venture capital at Novare Kapital and Spray Investment. In his different roles as owner, board member and CEO, David has conducted a large number of mergers and acquisitions, fund raisings and divestitures. David holds an MSc in economics and finance from Stockholm School of Economics and the Asian Institute of Management as well as a BSc in psychology from Stockholm University. Jakob Tolleryd is a Swedish serial entrepreneur and investor. He is the founder and investor behind a number of companies in the IT/Internet industry. Among them, Compricer; a price comparison site for services, Easyart; the leading European e-commerce company for art prints and Klikki; one of tTable of ContentsTable of Contents and New Edition Content 1 Introduction 2 Presentation of Model Company 3 When Do You Need to Value a Company? 4 Company Valuation – An Overview 5 Ratio-based Valuation 6 Discounted Cash Flow Valuation 7 Underlying Analysis and Key Value Drivers 8 How to Value Your Company in Practice – An Example 9 Value-based Management 10 Afterword Appendix AInspirational list of key value drivers Appendix BTypical information needed for a valuation Notes Glossary Further Reading
£30.59
Pearson Education Financial Times Guide to Investing in Funds The
Book SynopsisJérôme de Lavenère Lussan is the founder and managing director of Laven Partners and investment management consultant whose specialism is operational due diligence on investment companies. Laven Partners has recently won the Best Regulatory Advisory Firm 2009', awarded by Hedge Fund Manager magazine. Jérôme trained as a lawyer and worked at Jones Day before running a hedge fund: this has given him the detailed understanding of how an investment management business works. Jérôme has taught on courses for Financial Times Knowledge and Euromoney. He also participates in in-house training for FT journalists, known as FT Business Masterclass'. He's frequently interviewed for market comments and recently appeared on Bloomberg TV.Trade ReviewThis book highlights the many pitfalls that investors often overlook or do not understand when investing. This includes a range of investment vehicles ranging from offshore hedge funds through to onshore regulated vehicles. Far too often, investors place too much reliance on brand names or regulators to protect themselves or to defend an investment decision. Jerome Lussan has been able to provide thought provoking insight, especially with respect to operational investment issues. A must-have tool in your investment kit!Marc de Kloe, Senior Product Specialist, Head of Hedge Funds, ABN AMRO Private Banking This book is a timely and valuable guide for fund investors. I very much enjoyed reading it. By building on his practical experience and a range of excellent case studies Jerome Lussan successfully highlights the importance of taking a comprehensive approach to fund evaluation in order to make successful investments. Professor Robert Kosowski, Director of Risk Management Lab and Centre for Hedge Fund Research, Imperial College London With his deep knowledge of the industry and his pragmatic approach, Lussan gives not only an exhaustive overview of the organization, structure and service providers involved in investment funds but he also covers comprehensively actual developments in the industry, such as risk management or compliance and offers to the reader some insightful case studies. Accessible and understandable but at the same time thorough and critical. Paolo Vinciarelli, Head of Investment Funds, BCEE Luxembourg Investors are invariably seduced by return patterns. They might do better and follow the Bard’s advice to “Let every eye negotiate for itself and trust no agent”. This helpful book suggests the best ways investors might improve their eye for better managed funds and hopefully better returns. Edmund Bellord,Asset Allocation Portfolio Strategist,GMO LLC Hedge fund investing requires a blend of art and science which Lussan understands well and this comes out from the book, and provides an invaluable insight from a leading expert. The Financial Times Guide to Investing in Funds teaches readers how to be disciplined when investing to obtain the right disclosures to ensure the protection of their assets. Read this book and you will learn how due diligence principles can protect your investments. Nathanael Benzaken, Managing Director, Head of Managed Account Development, Lyxor Asset Management This is a comprehensive guide for all professionals and investors into the due diligence process behind picking the right fund for their portfolio. Too many investors focus simply on fund statistics and the manager's underlying strategy and neglect the basics of good fund management which includes corporate governance, regulatory controls and elementary accounting. This impressive new book makes amends and forces the investor to think about the actual structure of fund management and understand how it can so easily go wrong - along the way Lussan fleshes out his analysis with real world examples of investment disasters including the notorious Bernard Madoff affair. An essential read for any sophisticated investor" David Stevenson, Financial Times Adventurous Investor ColumnistTable of Contents1. Introduction 2. The Manager 3. The Fund 4. The Prospectus 5. Governance 6. Service Providers 7. Front and Back Office Operations 8. Investment Process and Products 9. Risk Management 10. Compliance 11. Background Checks 12. Conclusion
£33.29
Pearson Education Financial Times Guide to Options The
Book SynopsisTable of Contents Preface About the author About this book Introduction Part 1 – Options fundamentals 1 Options in Everyday life 2 The basics of calls 3 The basics of puts 4 Pricing and behaviour 5 Volatility and pricing models 6 The Greeks and risk assessment: delta 7 Gamma and theta 8 Vega Part 2 - Options spreads 9 Call spreads and put spreads 10 One by two directional spreads 11 Combos and hybrid spreads for market direction 12 Volatility spreads 13 Iron butterflies and iron condors 14 Butterflies and condors 15 The covered write, the calendar spread and the diagonal spread Part 3 – Thinking about options 16 The interaction of the Greeks 17 Options performance based on cost 18 Options talk 1 19 Options talk 2: trouble shooting and common problems 20 Volatility skews Part 4 – Basic non-essentials 21 Futures, synthetics and put-call parity 22 Conversions, reversals, boxes and options arbitrage 23 Conclusion Glossary Suggestions for further reading Index of underlying contracts
£28.79
Pearson Education Introduction to Islamic Banking Finance
Book SynopsisTable of Contents An Introduction to Islamic Banking and Finance Islamic Contract Law Financial Instruments of Islamic Banking and Finance Financial Accounting for Islamic Banking Products Corporate Governance for Islamic Financial Institutions Islamic Asset and Fund Management Islamic Bonds Islamic Insurance (Takaful) Islamic Microfinance Risk Management in Islamic Finance Glossary
£49.70
Pearson Education Key Financial Market Concepts
Book SynopsisBob Steiner is the founder/managing director of Markets International, an independent training company. A former treasury officer and financial consultant he's also the author of Mastering Financial Calculations, now in its second edition.Table of ContentsTIME VALUE OF MONEY Simple Interest and Compound Interest Equivalent Rate, Effective Rate and Continuously Compounded Rate Future Value (FV), Present Value (PV), Rate of Discount and Discount Factor Net Present Value (NPV), and Internal Rate of Return (IRR) Money-weighted and Time-weighted Rates of Return Annuity THE MONEY MARKETS Certificate of Deposit (CD), Commercial Paper (CP), Treasury Bill, True Yield and Discount Rate Value Dates, Interpolation and Extrapolation ZERO-COUPON YIELD AND YIELD CURVE Zero-coupon Yield, the Spot Yield Curve and Bootstrapping The Par Yield Curve The Forward-forward Yield Curve FORWARD-FORWARDS, FRAS AND FUTURES Forward-forward Interest Rate Forward Rate Agreement (FRA) Stir Futures Contract and Margin Basis Risk Spread, Butterfly Spread and Condor STRIP THE BOND AND REPO MARKETS Accrued Interest, Clean Price and Dirty Price Money Market Basis and Bond Basis Yield to Maturity (YTM) Current Yield and Simple Yield to Maturity Zero-coupon Security and STRIP Asset-backed Securities (ABS), Mortgage-backed Securities (MBS), Collateralized Debt Obligations (CDO) and Covered Bonds Bond Futures, Conversion Factor and Cheapest-to-deliver (CTD) Cash-and-carry Arbitrage and Implied Repo Rate Duration, Modified Duration, Price Value of a Basis Point (PVB), Dollar Value of an 01 (DV01) and Convexity Hedge Ratio Repo and Reverse Repo Haircut and Margin Buy/Sell -Back and Sell/Buy-Back Securities Lending/Borrowing THE SWAPS MARKET Interest Rate Swap (IRS) Asset Swap and Liability Swap Overnight Index Swap (OIS) Currency Swap FOREIGN EXCHANGE Forward Outright and Forward Swap Cross-rate Short Dates Forward-forward Exchange Rate Non-deliverable Forward (NDF) OPTIONS Calls and Puts The Black and Scholes Pricing Model Historic Volatility and Implied Volatility Binomial Pricing Model The Put/Call Parity Cap, Floor, Collar and Zero-cost Option Break Forward, Range Forward and Participation Forward Option Trading Strategies: Straddle, Strangle, Spread, Butterfly, Condor, Ratio Spread and Risk Reversal Barrier Options: Knock-out Option and Knock-in Option Credit Derivatives, Synthetic CDO and First-to-default Baskets The ‘Greeks’: Delta, Gamma, Vega, Theta and Rho STATISTICS Mean, Median and Mode Variance and Standard Deviation Correlation and Covariance Probability Density and the Normal Probability Function RISK MANAGEMENT AND INVESTMENT MANAGEMENT Value at Risk (VaR) The Capital Adequacy Ratio Efficient Markets Hypothesis APPENDICES Glossary Day/Year Conventions for Money Markets
£26.99
Pearson Education Financial Times Guide to Foreign Exchange Trading
Book SynopsisTable of Contents1. Foreign exchange trading: getting started 2. Accessing the markets: different types of trading account 3. Risk management for the forex trader 4. Currencies in brief 5. Trading emerging markets currencies 6. What moves the markets 7. Developing a trading plan for currency markets 8. Technical analysis for the FX trader 9. Further resources for the forex trader 10. Careers in FX trading
£24.29
