Finance and the finance industry Books

Book SynopsisThis book will provide a firm foundation in the understanding of financial economics applied to asset pricing. It carries the real world perspective of how the market works, including behavioral biases, and also wraps that understanding in the context of a rigorous economics framework of investors’ risk preferences, underlying price dynamics, rational choice in the large, and market equilibrium other than inexplicable irrational bubbles. It concentrates on analyses of stock, credit, and option pricing. Existing highly cited finance models in pricing of these assets are covered in detail, and theory is accompanied by rigorous applications of econometrics. Econometrics contain elucidations of both the statistical theory as well as the practice of data analyses. Linear regression methods and some nonlinear methods are also covered. The contribution of this book, and at the same time, its novelty, is in employing materials in probability theory, economics optimization, econometrics, and data analyses together to provide a rigorous and sharp intellect for investment and financial decision-making. Mistakes are often made with far too often sweeping pragmatism without deeply knowing the underpinnings of how the market economics works. This book is written at a level that is both academically rigorous for university courses in investment, derivatives, risk management, as well as not too mathematically deep so that finance and banking graduate professionals can have a real journey into the frontier financial economics thinking and rigorous data analytical findings.

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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

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Book SynopsisCovering pertinent areas of sustainable and responsible investment (SRI) this forward-looking book examines SRI in developing markets including its evolution, principles and concepts. It explores the drivers and challenges in developing economies and analyses the theoretical underpinnings to critical issues pertaining to SRI.This timely book investigates investment strategies and philosophies that attempt to incorporate environmental, social and governance (ESG) concerns into investment decision-making. In turn it provides an in-depth review of a number of different motivations for SRI, including: personal values and goals, institutional missions, and the demands of clients, constituents or plan participants. Sustainable and Responsible Investment in Developing Markets further defines how to integrate ESG issues into investment portfolios, looking to sustainable and responsible investors with a focus on financial performance, who believe in using these investments to promote ESG practices.With a focus on sustainability in relation to business and investment, this expansive book will be a useful guide for finance, business, environment, geography and innovation students, and researchers, practitioners, and policymakers interested in understanding sustainable and responsible investment, specifically for developing countries.Trade Review‘This edited book provides a rich and comprehensive examination of sustainable and responsible investment in developing countries. The book fills many gaps in existing books on investments in developing economies. I strongly recommend the book to everyone interested in responsible investments.’ -- Robert Lensink, University of Groningen, the Netherlands‘This edited volume presents an excellent contribution to the emerging area of sustainable and responsible investment (SRI), especially as it focuses on developing countries. It is a useful resource for researchers, policymakers, international development agencies, practitioners and university students. It presents an encyclopedic coverage of the main issues on SRI. I am glad to endorse this book and recommend it to everyone interested in understanding SRI in developing economies.’ -- Victor Murinde, SOAS University of London, UK‘At a time when issues pertaining to sustainable and ethical investment are assuming increasing global priority, this book could not be more relevant. Focusing on sustainable and responsible investment (SRI) in developing economies, the book fills a gap in the development and finance literatures with expert and incisive analysis of the relevance of SRI to sectors such as banking, insurance, energy, tourism and agriculture. It will prove to be an essential resource for investors and policymakers as well as everyone else who is concerned about how private investment can be aligned with environmental sustainability and social objectives. I strongly recommend it.’ -- Roy Sudharshan Canagarajah, World BankTable of ContentsContents: PART I OVERVIEW OF SUSTAINABLE AND RESPONSIBLE INVESTMENT 1 Introduction to Sustainable and Responsible Investment in Developing Markets 2 Joshua Yindenaba Abor PART II SUSTAINABLE AND RESPONSIBLE INVESTMENT: EVOLUTION, PRINCIPLES AND IMPACT 2 Evolution, principles and concepts of sustainable and responsible investment 12 Joshua Yindenaba Abor, Benjamin Agyeman and Mary Wamaitha 3 Drivers and challenges of sustainable and responsible investment in developing economies 36 Lordina Amoah, Dennis Venunye Hehetror, Richard Kotey and Olagunju Ashimolowo 4 Impact investing in developing markets 50 Zubeiru Salifu, Joshua Yindenaba Abor, Mabouba Diagne and Elizabeth Muthuma 5 Investing for impact on the African continent: an overview 73 Xolisa Dhlamini and Stephanie Giamporcaro PART III LONG-TERM RESPONSIBLE INVESTMENT, GOVERNANCE, FIDUCIARY CAPITALISM AND SUSTAINABLE DEVELOPMENT 6 Long-term responsible investment and corporate social responsibility 91 Paul Terna Gbahabo, Lwanga Elizabeth Nanziri and Tendayi Chapoto 7 Corporate governance and sustainability ethics in developing countries 115 George Nana Agyekum Donkor, Daniel Ofori-Sasu, Thankom Arun and Joshua Yindenaba Abor 8 The rise of fiduciary capitalism in developing countries 128 Michelle Filson and Joshua Yindenaba Abor 9 Sustainable development: conceptual and theoretical insights in the Global South 141 Asaah Sumaila Mohammed, Dede Woade Gafa and Raymond Aitibasa Atanga PART IV FINANCE AND SUSTAINABILITY 10 Sustainable financing in developing economies 159 Mumbi Maria Wachira, Khadijah Iddrisu, Gifty Abban and Joshua Yindenaba Abor 11 Environmental and climate finance in developing countries 172 Mawuena Akosua Cudjoe, Joshua Yindenaba Abor and Jako Volschenk 12 Sustainable banking in developing economies 190 Janet Talata Abor, Joshua Yindenaba Abor and Ahmad Hassan Ahmad 13 Sustainable risk financing and insurance in developing markets 204 Joshua Yindenaba Abor, Margaret Asare, Susana Yamoah, Gideon Ataraire and Abdul Latif Alhassan 14 Sustainable private equity and venture capital in developing economies 220 Elikplimi Komla Agbloyor, Isaac Kofi Bekoe and Joshua Yindenaba Abor 15 Crowdfunding and sustainable enterprises in developing markets 234 George Acheampong, Alex Akpabli and Joshua Yindenaba Abor PART V SECTOR-SPECIFIC SUSTAINABLE AND RESPONSIBLE INVESTMENT 16 Sustainable tourism in Africa 245 Kobby Mensah, Eunice Fay Amissah and Noel Nutsugah 17 Sustainable real estate investment and finance in developing economies: challenges and opportunities 262 Frank K. Ametefe, Precious A. Brenni and François Viruly 18 Sustainable and responsible agricultural investment in developing countries 285 Haruna Issahaku, Paul Kwame Nkegbe and Jeremiah Ogaga Ejemeyovwi 19 Sustainable and responsible mining investment in developing economies 304 Benjamin Nii Ayi Aryee, Hudson Mtegha and Michael Sandow Ali 20 Sustainable and responsible energy investment in developing economies 321 Benjamin Agyeman, Joshua Yindenaba Abor and Amin Karimu PART VI SUSTAINABLE AND RESPONSIBLE INVESTMENT PORTFOLIO CONSTRUCTION AND SUSTAINABLE VALUATION 21 Sustainable and responsible investment and asset selection 347 William Coffie, Vera Ogeh Fiador and Abacha Isa 22 Valuation of sustainable investment 363 Emmanuel Acheampong-Bonsu, Jackie Wolgast and Teddy Ossei Kwakye PART VII EMERGING TRENDS AND REGULATION OF SUSTAINABLE AND RESPONSIBLE INVESTMENT 23 COVID-19 pandemic and sustainable and responsible development: agenda for reform and prevention of another crisis 382 Michael Effah Asamoah, Emmanuel Joel Aikins Abakah and Lungile Ntsalaze 24 Regulation of sustainable and responsible investment in developing countries 396 Bright Kojo Tsikata, Lordina Amoah and Joshua Ogwal Index

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Book SynopsisTrade Review"Selected for Askblog’s Books of the year 2017"

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Book SynopsisNATIONAL BESTSELLER • The gripping story of Elizabeth Holmes and Theranos—one of the biggest corporate frauds in history—a tale of ambition and hubris set amid the bold promises of Silicon Valley, rigorously reported by the prize-winning journalist. With a new Afterword covering her trial and sentencing, bringing the story to a close.“Chilling ... Reads like a thriller ... Carreyrou tells [the Theranos story] virtually to perfection.” —The New York Times Book ReviewIn 2014, Theranos founder and CEO Elizabeth Holmes was widely seen as the next Steve Jobs: a brilliant Stanford dropout whose startup “unicorn” promised to revolutionize the medical industry with its breakthrough device, which performed the whole range of laboratory tests from a single drop of blood. Backed by investors such as Larry Ellison and Tim Draper, Theranos sold shares in a fundraising round that valued the company at more than $9 billion, putting Holmes’s worth at an estimated $4.5 billion. There was just one problem: The technology didn’t work. Erroneous results put patients in danger, leading to misdiagnoses and unnecessary treatments. All the while, Holmes and her partner, Sunny Balwani, worked to silence anyone who voiced misgivings—from journalists to their own employees.

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Book SynopsisTable of ContentsPreface viii About the Editors xi Acknowledgements xiii 1. Payments Explained Payments are Getting Political Again 6 Money: A History of Gods and Codes 11 Payments Explained 14 From Barter to App – How Payments Have Changed 17 Do We Still Need to Pay? 21 How ACH and Real-Time Payments Clearing and Settlement Works 23 Payments as a Service 26 The New Emerging Banks and Their Role in Payments 28 The Payments Race 31 PayTech Regulation Trends 34 An Innovative Local Payments Method in an Ancient Land 37 2. Payment System Infrastructures and Money Transfer Technologies The Convergence of Card Payments and Bank Payments 46 Instant Payments: A New Deal for the Payments Market? 49 PIN on Mobile – A Pivotal Moment for Payments 51 PayTech in the Cloud 54 The Rise of a Super-Correspondent Banking Network 56 Why Distinctions within Mobile Wallets and Tokenization Matter 59 The Future is Already Here; It is Just Not Evenly Distributed 61 PSD2 Open Banking: The Challenges of Third-Party Provider Identity and Regulatory Checking 64 Taking PayTech to the Villages of India 68 3. Payments Regulation and Compliance How Payments Regulation and Compliance Can Create a Better Future 74 Refining the Collective Responsibility for Compliance 78 Can Operational Agility Grow Payments in the New Online Platform Marketplaces? 81 The Hidden Value of Greater Standardization for the EU-Wide FinTech Market 84 Is Europe a Good Example of Open Banking? 86 Taking Back the Power: Regulations in the EU are Changing the Face of Banking 88 Achieving Control Effectiveness and Sustainable Compliance Using Nine Factors 91 Money Laundering Laws, Technology and Keeping Up with Criminals 94 Dynamic Regulation Readiness – Implementing the 5th Anti-Money Laundering Directive 97 eKYC: The Next Mountain for e-Businesses to Climb 100 AML Systems After Madoff: Ponzi-Identification Using “Complexity” 102 4. Blockchain Regulation Around the World Understanding Cryptocurrencies, Blockchain Technology and Regulations 110 Blockchain, Cryptocurrencies and How They Fit Within Current Payments Regulation 114 Blockchain and Beyond 117 Will Central Banks Adopt the New World Economy of Cryptocurrencies? 119 The Case for a National Cryptocurrency 122 Regulation and the Future of Blockchain: Which Approach Will Succeed? 124 Web 3.0 – The Internet of Value 127 Blockchain – An Elixir for Anti-Money Laundering? 129 Facilitating Online Crypto-Payments Now and in the Future 132 A New Law for Derivatives Markets and the Use of Smart Contracts 134 PayTech and Blockchain: Adjusting for Security and Risk 137 Cryptocommodities: An Essential Element of Decentralized Payments 140 5. Payments in Practice The Perspective of a Passionate Payments CEO 148 Plugging the Data Black Hole: How Mobile Self-Checkout Can Help Revive the High Street 152 How UnionPay Quick Pass is Beating Alipay and WeChat Pay in China 155 How Payment Agility and Cash-for-Carbon Can Solve a Global Problem for Mankind 158 Revolutionizing the Retail Industry Through Integrated Payments Systems 162 Asset Management and Payments in India – So Near and Yet So Far 164 Exploiting the Value of Data Embedded in Payments Systems 167 Reinventing the Customer Experience by Focusing on the After-Payment Emotional Experience 170 How Open Banking and Payment Touchpoints Will Save Banks 172 Why Personal Financial Management Will Be Embedded Into the Next Generation of Payments 175 How Helping Microbusinesses Accept Digital Payments Could Transform Kenya’s Economy and Enhance Inclusion 178 How Decentralization Can Create a Customer-Centric Ecosystem 182 6. Blueprint for Change A Blueprint for Change 188 Accelerating the Adoption of PayTech Innovations 192 How to Build a Successful PayTech Product 195 The Future of Digital Payments Market Infrastructures 198 It’s Money, Jim, But Not as We Know It 201 Payments as Open Business Banking Enabler for the Gig Economy 206 The Financial Arms Race: The Game with No Rules 209 How Network Paradigms Can Lead to New Payments Innovations 212 It’s the Ecosystem, Stupid! Keeping Ahead in a Payments Ecosystem 215 Mobile Money: Creating a Cash-Light Africa to Solve the Financial Inclusion Problem 217 Back to the Future: A Miraculous Time-Trip Through the Future, Present and Past of Payments 222 Fifteen Ways in Which Our Digital Future Will be Shaped by PayTech 225 List of Contributors 229 Index 236

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Trade ReviewFinancial econometrics is the study and application of compelling econometric methods with a cogent financial purpose. This new book delivers a masterful introduction to financial econometrics at its best. It does so with enticing prose, motivating examples, utmost clarity and, ultimately, just the right balance of breadth and depth. In a world of big data and new technologies, not only does this rich treatment provide the fundamentals needed for more advanced explorations but also, in my view, the desire to explore further. To anyone new to this field, or to anyone who does not believe the field to be approachable and exciting, I say: this book will be an eye-opener. * Federico M. Bandi, James Carey Endowed Professor in Business, Johns Hopkins University *A comprehensive and long-overdue pedagogical treatment of financial econometrics * the only book to cover concepts, methodology, and empirical examples demonstrated with popular Stata and EViews software accessible to beginning students. The book is a self-contained first course, achieving the remarkable feat of an exhaustive introductory treatment that is inspiring, rigorous, and easy to read with clever organization into fundamentals, methods, and topics. A must-have reference source, perfect for teaching financial econometrics in masters courses or to graduate students with limited backgrounds.Eric Renault, C.V. Starr Professor of Economics, University of Warwick *Financial Econometric Modeling provides a broad introduction to financial econometrics, with an emphasis on applications and encouraging students to get their hands dirty from the very beginning. The authors cover a vast amount of material. The fact that all of the topics come with sample data sets for students to use * and all of the empirical work in the book can be replicated in EViews and Statawill be very attractive to many instructors and students.Andrew Patton, Zelter Family Professor of Economics, Duke University *I strongly recommend this textbook. It offers the perfect mix between solid bases and new developments, and between theoretical descriptions of tools and algorithms and a rich set of fully worked-out examples. * Massimo Guidolin, Professor of Finance, Bocconi University *Table of ContentsI: Fundamentals1. Prices and Returns1.1 What is Financial Econometrics?1.2 Financial Assets1.3 Equity Prices and Returns1.4 Stock Market Indices1.5 Bond Yields1.6 Exercises2. Financial Data2.1irst Look at the Data2.2 Summary Statistics2.3 Percentiles and Value at Risk2.4 The Efficient Market Hypothesis2.5 Exercises3. Linear Regression3.1 The Capital Asset Pricing Model3.2 Multi-factor CAPM3.3 Properties of Ordinary Least Squares3.4 Diagnostics3.5 Measuring Portfolio Performance3.6 Minimum Variance Portfolios3.7 Event Analysis3.8 Exercises4. Stationary Dynamics4.1 Stationarity4.2 Univariate Time Series Models4.3 Autocorrelation and Partial Autocorrelations4.4 Mean Aversion and Reversion in Returns4.5 Vector Autoregressive Models4.6 Analysing VARs4.7 Diebold-Yilmaz Spillover Index4.8 Exercises5. Nonstationarity5.1 The RandomWalk with Drift5.2 Characteristics of Financial Data5.3 Dickey-Fuller Methods and Unit Root Testing5.4 Beyond the Simple Unit Root Framework5.5 Asset Price Bubbles5.6 Exercises6. Cointegration6.1 The Present Value Model and Cointegration6.2 Vector Error Correction Models6.3 Estimation6.4 Cointegration Testing6.5 Parameter Testing6.6 Cointegration and the Gordon Model6.7 Cointegration and the Yield Curve6.8 Exercises7. Forecasting7.1 Types of Forecasts7.2 Forecasting Univariate Time Series Models7.3 Forecasting Multivariate Time Series Models7.4 Combining Forecasts.7.5 Forecast Evaluation Statistics7.6 Evaluating the Density of Forecast Errors7.7 Regression Model Forecasts7.8 Predicting the Equity Premium7.9 Stochastic Simulation of Value at Risk7.10 ExercisesII. Methods8. Instrumental Variables8.1 The Exogeneity Assumption8.2 Estimating the Risk-Return Tradeoff8.3 The General Instrumental Variables Estimator8.4 Testing for Endogeneity8.5 Weak Instruments8.6 Consumption CAPM8.7 Endogeneity and Corporate Finance8.8 Exercises9. Generalised Method of Moments9.1 Single Parameter Models9.2 Multiple Parameter Models9.3 Over-Identified Models9.4 Estimation9.5 Properties of the GMM Estimator9.6 Testing9.7 Consumption CAPM Revisited9.8 The CKLS Model of Interest Rates9.9 Exercises10. Maximum Likelihood10.1 Distributions in Finance10.2 Estimation by Maximum Likelihood10.3 Applications10.4 Numerical Methods10.5 Properties10.6 Quasi Maximum Likelihood Estimation10.7 Testing10.8 Exercises11. Panel Data Models11.1 Types of Panel Data11.2 Reasons for Using Panel Data11.3 Two Introductory Panel Models11.4 Fixed and Random Effects Panel Models11.5 Dynamic Panel Models11.6 Nonstationary Panel Models11.7 Exercises12. Latent Factor Models12.1 Motivation12.2 Principal Components12.3atent Factor CAPM12.4 Dynamic Factor Models: the Kalman Filter12.5arametric Approach to Factors12.6 Stochastic Volatility12.7 ExercisesIII: Topics13. Univariate GARCH Models13.1 Volatility Clustering.13.2 The GARCH Model13.3 Asymmetric Volatility Effects13.4 Forecasting13.5 The Risk-Return Tradeoff.13.6 Heatwaves and Meteor Showers13.7 Exercises14. Multivariate GARCH Models14.1 Motivation14.2 Early Covariance Estimators14.3 The BEKK Model14.4 The DCC Model14.5 Optimal Hedge Ratios14.6 Capital Ratios and Financial Crises14.7 Exercises15. Realised Variance and Covariance15.1 High Frequency Data15.2 Realised Variance15.3 Integrated Variance15.4 Microstructure Noise15.5 Bipower Variation and Jumps15.6 Forecasting15.7 The Realised GARCH Model15.8 Realised Covariance15.9 Exercises16. Microstructure Models16.1 Characteristics of High Frequency Data16.2 Limit Order Book16.3 Bid Ask Bounce16.4 Information Content of Trades16.5 Modelling Price Movements in Trades16.6 Modelling Durations16.7 Modelling Volatility in Transactions Time16.8 Exercises17. Options17.1 Option Pricing Basics.17.2 The Black-Scholes Option Price Model17.3irst Look at Options Data17.4 Estimating the Black-Scholes Model17.5 Testing the Black-Scholes Model17.6 Option Pricing and GARCH Volatility17.7 The Melick-Thomas Option Price Model17.8 Nonlinear Option Pricing.17.9 Using Options to Estimate GARCH Models17.10 Exercises18. Extreme Values and Copulas18.1 Motivation.18.2 Evidence of Heavy Tails18.3 Extreme Value Theory18.4 Modelling Dependence using Copulas18.5 Properties of Copulas18.6 Estimating Copula Models18.7 MGARCH Model Using Copulas18.8 Exercises19. Concluding RemarksA. Mathematical PreliminariesA.1 Summation NotationA.2 Expectations OperatorA.3 DifferentiationA.4 Taylor Series ExpansionsA.5 Matrix AlgebraA.6 Transposition ofatrixA.7 Symmetric MatrixB. Properties of EstimatorsB.1 Finite Sample PropertiesB.2 Asymptotic PropertiesC. Linear Regression Model in Matrix NotationD. Numerical OptimisationE. Simulating CopulasAuthor indexSubject index

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Book SynopsisThis book explores the nature of money and banking throughout their history, and applies this to the study of financial crises. The first part of the book covers the evolution of monetary arrangements, money creation and the business of banking since their earliest manifestations to the present day, showing how changes in the business of banking led to a transformation in the money we use. The second part of the book applies the understanding acquired during the first part to the study of financial crises, showing that money is taken out of circulation when bank loans are paid back. This key insight is at the core of the mechanism that explains financial crises, since an economy that sees its money supply diminish is also an economy that cannot generate enough demand for its own goods and services. Financial crises result when bank lending slows down or comes to a halt – while outstanding bank loans are still due for repayment. The mechanism is discussed in detail, and the crucial role of banks highlighted. Adequate policy measures to prevent crises, or to mitigate their effects, are then put forward in light of this mechanism. The book will be of interest to researchers and students of economic and financial history, as well as those working in finance, banking and economics more widely. Table of ContentsIntroduction.- 1 What is money?.- A History of Money and Banking.- 2 Money from the very beginning.- 3 Banks enter the scene.- 4 The dawn of modern banking.- 5 The creation of a paper currency.- 6 Modern banking comes of age.- 7 The role of banks in a modern economy.- II An Analysis of Financial Crises.- 8 The role of money and the logic of recessions.- 9 Describing financial crises.- 10 The mechanics of financial crises - part one.- 11 The mechanics of financial crises - part two.- 12 Fighting off financial crises.- 13 Preventing financial crises.- Further Reading.- References.

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Book Synopsis''If you''re a progressive, in Britain or elsewhere, and if you think the movement needs fresh ideas, read this book, it''s full of them. Then get to work'' The Guardian''It ought to be required reading for every civil servant, regulator and politician in the UK and elsewhere'' Literary ReviewFinancial malpractice, we''re told, is an aberration: the actions of a few bad apples deviating from the norms of a market-governed process and gaming the system. In Sabotage, political scientists Anastasia Nesvetailova and Ronen Palan blow this fiction apart, showing that sabotage is not an anomaly, but part of the business model of finance - and always has been.Abusive lending practices, misleading investors, manipulating prices, deliberately falsifying figures, cheating, obstruction and taking advantage of ''the dumbest person in the room'' - they''re actually the main source of profitability in finance, and the surest Trade ReviewSabotage is a great book. It lifts the lid on shocking, systematic abuses, of which every user of financial services needs to be aware. It ought to be required reading for every civil servant, regulator and politician in the UK and elsewhere. -- Ian Fraser * Literary Review *If you're a progressive, in Britain or elsewhere, and if you think the movement needs fresh ideas, read this book, it's full of them. Then get to work. -- Oliver Bullough * The Guardian *Distinctive, fresh and well-justified... Sabotage deserves high praise for fulfilling the most valuable injunction of all when it comes to catastrophic crises with terrible human costs: never forget. -- Felix Martin * New Statesman *Nesvetailova and Palan trace how financiers have corrupted the purpose of the corporation, undermined our tax authorities, foxed the regulators, evaded the forces of law and order, and generally rigged markets in their favour. There's a word for all this - sabotage. And as it has unfolded, finance has been steadily sabotaging our democracies. This lucid, persuasive and timely new book hits the nail on the head. -- Nicholas Shaxson, author of Treasure Islands: Tax Havens and the Men Who Stole the World

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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

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a huge range and FREE tracked UK delivery on ALL orders.

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a huge range and FREE tracked UK delivery on ALL orders.

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a huge range and FREE tracked UK delivery on ALL orders.

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Book SynopsisStudents and instructors alike will benefit from this rigorous, unfussy text, which keeps a clear focus on the basic probabilistic concepts required for an understanding of financial market models, including independence and conditioning. Assuming only some calculus and linear algebra, the text develops key results of measure and integration, which are applied to probability spaces and random variables, culminating in central limit theory. Consequently it provides essential prerequisites to graduate-level study of modern finance and, more generally, to the study of stochastic processes. Results are proved carefully and the key concepts are motivated by concrete examples drawn from financial market models. Students can test their understanding through the large number of exercises and worked examples that are integral to the text.Table of ContentsPreface; 1. Probability space; 2. Probability distributions and random variables; 3. Product measure and independence; 4. Conditional expectation; 5. Sequences of random variables; Index.

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Book SynopsisFrom Measures to Itô Integrals gives a clear account of measure theory, leading via L2-theory to Brownian motion, Itô integrals and a brief look at martingale calculus. Modern probability theory and the applications of stochastic processes rely heavily on an understanding of basic measure theory. This text is ideal preparation for graduate-level courses in mathematical finance and perfect for any reader seeking a basic understanding of the mathematics underpinning the various applications of Itô calculus.Table of ContentsPreface; 1. Probability and measure; 2. Measures and distribution functions; 3. Measurable functions/random variables; 4. Integration and expectation; 5. Lp-spaces and conditional expectation; 6. Discrete-time martingales; 7. Brownian motion; 8. Stochastic integrals; Bibliography; Index.

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Book SynopsisFrom social media to mortgage-backed securities, innovation carries both risk and opportunity. Groups of people win, and lose, when innovation changes the ground rules. Looking beyond formal politics, this new book by Cristie Ford argues that we need to recognize innovation, and financial innovation in particular, as a central challenge for regulation. Regulation is at the leading edge of politics and policy in ways that we have not yet fully grasped. Seemingly innocuous regulatory design choices have clear and profound practical ramifications for many of our most cherished social commitments. Innovation is a complex phenomenon that needs to be understood not only in technical terms, but also in human ones. Using financial regulation as her primary example, Ford argues for a fresh approach to regulation, which recognizes innovation for the regulatory challenge that it is, and which binds our cherished social values and our regulatory tools ever more tightly together.Trade Review'In Innovation and the State: Finance, Regulation, and Justice Cristie Ford provides a thorough analysis of the evolution of academic literature on 'flexible regulation' and couples this with an analysis of different forms of innovation to consider how regulation can fulfil progressive social goals whilst coping effectively with the risks and uncertainties that innovations within markets can pose. Elegantly written and perceptively observed, this is a timely analysis which reminds us that regulation is a political and social project as well as a technical one.' Julia Black, London School of Economics and Political Science'A tour de force of innovation and financial regulation. Cristie Ford is street smart, experienced on Wall Street. She explains how sedimentary innovation is bound to defeat inflexible rulish regulation. Yet sedimentary innovation also defeats flexible regulation, if it fails to fill the gaps that open within a scaffolding of regulatory principles. Ford's brilliant book teaches us to learn to see financial innovation. It cautions political wisdom in building loyalty to public values as regulators steer economic interests.' John Braithwaite, Australian National University, Canberra'Like the words 'growth' and 'progress', 'innovation' is often taken for granted as a public good. Indeed, it can be. But Cristie Ford shows in this deep and thoughtful book the way this taken-for-grantedness has seduced regulators, academics and the public into a set of beliefs that undermines the necessary task of regulation itself. She points the way forward to a more sophisticated interaction between regulation and innovation in a more just, progressive society.' Donald Langevoort, Georgetown University, Washington, DC'Many scholars, including Cristie Ford, have analyzed particular aspects of these phenomena, and how they matter to business and financial policy. What no one has done before, is build a broad philosophical construct for assessing these phenomena, so that policy makers might produce innovation-ready financial regulation. Professor Ford addresses regulatory design and structure, adaptability, and our own assumptions in ways that should help academics and policy makers think more precisely about optimal financial regulation in the future.' Frank Partnoy, University of San Diego, School of LawTable of Contents1. Innovation as a regulatory challenge: four stories; 2. The history and rots of flexible regulation; 3. Flexible regulation: key scholarship; 4. Flexible regulation scholarship, 1980–2012; 5. Flexible regulation and ideology; 6. Innovation as regulatory subject; 7. Seismic innovation; 8. Innovation as sedimentary layers; 9. Conclusion.

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Book SynopsisFor decades, the economic theory of the firm referred to as agency theory has dominated business research and education in the United States. Although agency theory has been influential in accounting, finance, and managerial economics, it lacks informal and nonfinancial controls. Douglas E. Stevens resolves to enhance this theory through the incorporation of social norms. Drawing on historical context related to the firm, the theory of the firm, and social norm theory related to the firm, he demonstrates the importance of social norms in the formation and development of free-market capitalism and the firm. He also describes the latest theoretical, experimental, and archival evidence to exhibit the growing body of research that incorporates social norms into the theory of the firm. These foundations enable Stevens to create a comprehensive roadmap of agency theory that will have strong implications for practice and public policy.Trade Review'… Stevens makes a persuasive case that social norms are an important determinant of how firms are organized, and how individuals working within them behave.' Paul E. Fischer, University of Pennsylvania 'Scarcity of attention to social norms became increasingly difficult to sustain after the recent decades' events, raising uncomfortable questions about the prevailing theories of business, economics, organizations, and finance. Beyond sociology and organization behavior, awareness of the importance of social norms in accounting and law has grown rapidly. Stevens' book will help meet the hunger for new ideas in theory of the firm.' Shyam Sunder, Yale University, ConnecticutTable of Contents1. The importance of behavioral assumptions in economic theory; Part I. The Foundation: 2. A history of the firm that incorporates social norms; 3. The theory of the firm; 4. Social norm theory related to the firm; Part II. The Evidence: 5. Formal models incorporating social norms into the theory of the firm; 6. Emerging evidence of social norms in experimental research; 7. Emerging evidence of social norms in archival research; 8. Conclusion: 'where do we go from here?'

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Book SynopsisIn Blockchain Regulation and Governance in Europe, Michèle Finck examines the relationship between blockchain technology and EU law and introduces the theme of blockchain governance. The book provides a general introduction to blockchains as both a regulatable and a regulatory technology and outlines the interaction between distributed ledger technology and specific areas of EU law, such as the General Data Protection Regulation. It should be read by anyone interested in EU law, the relationship between law, innovation and technology, and technology governance.Trade Review'Blockchain Regulation and Governance in Europe brilliantly connects two complex, highly significant domains of legal development in the world today. With perceptive, careful analysis, Michèle Finck explains how blockchain systems are not only subject to regulatory influence, they can be tools for regulatory action. Europe is both a global focal point for data protection law and a hotbed of blockchain development. This much-needed work will enable scholars, practitioners and policy-makers to respond effectively to the difficult challenges that blockchains pose.' Kevin Werbach, University of Pennsylvania'In this grounded, insightful book, Finck distinguishes between hype and reality in the blockchain world, and skilfully grapples with the legal and regulatory implications of each. Required reading for regulators, policy makers and anyone involved in the blockchain or cryptocurrency space - inside or outside the EU.' Angela Walch, St Mary's University School of Law, and Research Fellow, UCL Centre for Blockchain Technologies'With great acuity, Michèle Finck has taken on the arduous task of researching an immature technology, which is therefore also a malleable technology. As she announces and demonstrates in this timely volume, this is the moment in time to investigate and to shape the future of blockchain technologies.' Mireille Hildebrandt, Vrije Universiteit Brussel'Blockchain Regulation and Governance in Europe eloquently cuts through the blockchain hype, explaining why blockchain needs the law for stability and to fulfil the technology's potential.' Aaron Wright, Director of the Tech Startup Clinic, Cardozo Law School'The arguments, extensive research and lucid prose are underpinned by scholarly rigor. The contributions do not (and rightly so) provide prescriptions to the 'lifeworld universality of the phenomenon of power'.' Joseph Savirimuthu, International Journal of Law and Information TechnologyTable of Contents1. Blockchain technology; 2. Blockchains as a regulatable technology; 3. Blockchain as a regulatory technology; 4. Blockchains and the general data protection regulation; 5. Blockchains and the idle data economy; 6. Blockchains, law, and technological innovation; 7. Blockchain governance; 8. Conclusion.

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Book SynopsisBig banks are capable of wreaking havoc on the global economy, and governments have often felt powerless to stop them. Regulators have responded by developing coordinated programs to handle banks, insurers, broker dealers, shadow banks and other businesses that can blow up in a crisis. This program began informally and undemocratically, and has developed into something much more organized, formalized and predictable, even though it has never been legally enforceable. David Zaring examines the realities of the current international financial system and concludes that in fact this is a well-ordered and functioning regulatory environment: the international financial system enjoys a substantial degree of compliance, and operates predictably and harmoniously. As a result, perhaps this could serve as a paradigm for future global governance. Zaring explores three aspects of international financial regulation that can inform global governance: harmonization through rules, cooperation on enforcTrade Review'The Globalized Governance of Finance is an expansive and, at times, colorful portrayal of the 'legalish' realm of global financial regulation. It provides a coherent and modern account of the world that lawyers and institutions experience. It is well worth a read.' Verity Winship, JotwellTable of Contents1. A transformative Forty Years; 2. The structure and rules of the globalized governance of finance; 3. Banking, global oversight's ne plus ultra; 4. Securities regulation: cooperation instead of harmonization; 5. Cooperation in insurance: a slow start, but a fast present; 6. The other networks of financial regulation; 7. International financial regulation and international law; 8. International financial regulation and China; 9. The next financial crisis and postscript.

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Book SynopsisBig banks are capable of wreaking havoc on the global economy, and governments have often felt powerless to stop them. Regulators have responded by developing coordinated programs to handle banks, insurers, broker dealers, shadow banks and other businesses that can blow up in a crisis. This program began informally and undemocratically, and has developed into something much more organized, formalized and predictable, even though it has never been legally enforceable. David Zaring examines the realities of the current international financial system and concludes that in fact this is a well-ordered and functioning regulatory environment: the international financial system enjoys a substantial degree of compliance, and operates predictably and harmoniously. As a result, perhaps this could serve as a paradigm for future global governance. Zaring explores three aspects of international financial regulation that can inform global governance: harmonization through rules, cooperation on enforcTrade Review'The Globalized Governance of Finance is an expansive and, at times, colorful portrayal of the 'legalish' realm of global financial regulation. It provides a coherent and modern account of the world that lawyers and institutions experience. It is well worth a read.' Verity Winship, JotwellTable of Contents1. A transformative Forty Years; 2. The structure and rules of the globalized governance of finance; 3. Banking, global oversight's ne plus ultra; 4. Securities regulation: cooperation instead of harmonization; 5. Cooperation in insurance: a slow start, but a fast present; 6. The other networks of financial regulation; 7. International financial regulation and international law; 8. International financial regulation and China; 9. The next financial crisis and postscript.

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Book SynopsisMath for Business & Finance: An Algebraic Approach provides modern examples for students to understand business mathematics and make connections with real-world applications. The course covers mathematical concepts from an algebraic approach, combined with Business applications. Every chapter is devoted to a Personal Finance theme, with topics that include Payroll and the Cost of Purchasing a Home. There is also extensive integration of scientific calculator notation, and also has the Wall Street Journal and Kiplinger news clips that have been widely popular in Jeffrey Slater''s other two Business Math texts. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective. Table of ContentsCHAPTER 1: Problem Solving with Math CHAPTER 2: Fractions CHAPTER 3: Percents and Their Applications Video Case: Project Management at Six Flags, New Jersey CHAPTER 4: Solving for the Unknown CHAPTER 5: Business Statistics CHAPTER 6: Banking and Budgeting CHAPTER 7: Payroll and Income Tax CHAPTER 8: Sales, Excise, and Property Taxes Video Case: EDP Renewables CHAPTER 9: Risk Management CHAPTER 10: Installment Buying and Revolving Charge Credit Cards CHAPTER 11: Discounts: Trade and Cash Video Case: Recycling at Subaru of Indiana Automotive CHAPTER 12: Markups and Markdowns: Perishables and Breakeven Analysis Video Case: Noodles & Company CHAPTER 13: How to Read, Analyze, and Interpret Financial Reports Video Case: Buycostumes.com CHAPTER 14: Depreciation CHAPTER 15: Inventory and Overhead CHAPTER 16: Simple Interest CHAPTER 17: Promissory Notes, Simple Discount Notes, and the Discount Process CHAPTER 18: The Cost of Home Ownership CHAPTER 19: Compound Interest and Present Value CHAPTER 20: Annuities and Sinking Funds Video Case: DHL Global Delivery Cumulative Review: A Word Problem Approach CHAPTER 21: Stocks, Bonds, and Mutual Funds APPENDIX A: Additional Homework by Learning Unit APPENDIX B: Worked-Out Solutions to Extra Practice Quizzes and You Try It Problems APPENDIX C: Check Figures APPENDIX D: Calculator Basics and the Metric System

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Book SynopsisStochastic Finance provides an introduction to mathematical finance that is unparalleled in its accessibility. Through classroom testing, the authors have identified common pain points for students, and their approach takes great care to help the reader to overcome these difficulties and to foster understanding where comparable texts often do not. Written for advanced undergraduate students, and making use of numerous detailed examples to illustrate key concepts, this text provides all the mathematical foundations necessary to model transactions in the world of finance. A first course in probability is the only necessary background. The book begins with the discrete binomial model and the finite market model, followed by the continuous BlackScholes model. It studies the pricing of European options by combining financial concepts such as arbitrage and self-financing trading strategies with probabilistic tools such as sigma algebras, martingales and stochastic integration. All these concTrade Review'The text does a great job of providing a comprehensive picture of basic mathematical finance concepts in both discrete and continuous settings. The authors provide a balanced amount of details in both the financial (arbitrage, replicating strategies, etc.) and mathematical aspects (probability, stochastic calculus, etc.) I really appreciate the fact that the technical details are presented in a way that is accessible to an advanced undergraduate student.' Triet Pham, Department of Mathematics, The School of Arts and Sciences, Rutgers, The State University of New Jersey'This is a rigorous textbook on stochastic finance in which the reader will enjoy the path the authors take while introducing conditional expectations with respect to sigma-algebras, and the sequence of models from the binomial to Black-Scholes. In all, a careful construction of the theory with proofs that are both thorough and readable.' Ludolf E. Meester, Delft University of TechnologyTable of ContentsPreface; Acknowledgements; Part I. Discrete-Time Models for Finance: 1. Introduction to finance; 2. Discrete probability; 3. Binomial or CRR model; 4. Finite market model; 5. Discrete Black–Scholes model; Part II. Continuous-Time Models for Finance: 6. Continuous probability; 7. Brownian motion; 8. Stochastic integration; 9. The Black–Scholes model; A Supplementary material; Bibliography; Symbol index; Index.

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Book SynopsisInvestors and traders seek methods to identify reversal and continuation to better time their trades. This applies for virtually everyone, whether employing a swing trading strategy, engaging in options trading, or timing entry and exit to spot bull and bear reversals. Key signals are found in the dozens of candlesticks, combined with technical signals such as gaps and moves outside of the trading range; size of wicks (shadows) and size of real bodies. The science of candlestick analysis has a proven track record not only from its inception in 17th century Japan, but today as well. This book explains and demonstrates candlestick signals, including both the appearance of each but in context on an actual stock chart. It further takes the reader through the rationale of reversal and continuation signals and demonstrates the crucial importance of confirmation (in the form of other candlesticks, traditional technical signals, volume, momentum and moving averages). Michael C. Thomsett isTable of ContentsChapter 1: The Basic Candlestick  1 The Origin and Meaning of the Candlestick  2 Strengths and Weaknesses of Candlesticks  7 Paper Trading as a Testing Ground  12 The Skills Every Trader Needs  15 Candlesticks: General Observations Concerning Their Use  19 Expanding the Information Pool Effectively  22 Chapter 2: Single Stick Signs  27 Uptrends and Downtrends  28 The Significance of a Candlestick’s Shape  31 Variations on the Bullish Long Candlestick  33 The Mistake Pattern  35 The Spinning Top, Hanging Man, and Hammer  41 Line Signals  44 The Significance of Tails  45 Chapter 3: Double Stick Moves  49 Two Reversal Moves: Engulfing and Harami  50 More Reversals: The Inverted Hammer and Doji Star  56 Gaps and Lines  60 Neck Lines, Crows, and Rabbits  68 Reversal and Confirming Moves—Relative Values  78 Chapter 4: Complex Stick Patterns  81 Reversal Trend Change Patterns  82 Inside and Outside Formations  88 Reversal Stars and Abandoned Babies  91 Line and Gap Continuation Signals  95 Tower Tops and Bottoms  105 Chapter 5: Reversal and Continuation Pattern Analysis  109 Strong Top and Bottom Signals  111 Stars, Kicks, Swallows, and Sandwiches  117 Matching and Star Reversals  126 Ladders and “Major” Reversals  130 Sakata’s Five Methods  134 Price Patterns with Low Reliability  142 Strong Price Line Reversals  150 Recognizing the False Signal  165 Chapter 6: Volume and Volatility  169 Volume as a Price Indicator  169 Volume Indicators  174 Testing Price Volatility  183 Triangles and Wedges  185 Chapter 7: Buy and Sell Set-Up Signals  193 Price Spikes and Reaction Swings  196 Percentage Swing Systems  200 Short-Term Gapping Behavior  202 Anticipating the Trend During Consolidation  206 The False Indicator  210 Support and Resistance in the Swing Trade  214 Chapter 8: Swing Trading with Candlesticks  219 A Swing Trading Overview  220 Quantifying Price Movement with Candlesticks  223 The Importance of Convergence and Divergence  226 Primary Trends and Candlestick-Based Entry or Exit  230 Set-Up Criteria and Action Points  234 Selling Short in Swing Trades  239 Chapter 9: Spotting Trends and Using Trendlines  243 Identifying the Trendline  244 Trendlines and Confirmation Signals  249 Applying Moving Averages to Candlestick Analysis  252 The Channel Line  254 Chapter 10: Technical Indicators  257 The Value of Confirmation  258 A Review: Technical Analysis Basics  261 The Significance of Gaps  264 A Framework for Interpretation: Support and Resistance  267 Overbought and Oversold Indicators  270 Relative Strength Index (RSI)  270 Stochastics  272 MACD  273 Bollinger Bands  274 The Potential of Candlestick Signals  278 Glossary  281 Index  297

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Book SynopsisThis book presents a rigorous empirical study of various aspects of poverty alleviation in rural Bangladesh. The themes include the trend and structure of rural poverty and the role of microfinance in alleviating rural poverty through participation of the rural poor in NGOs and microfinance institutions (MFIs). It also includes different challenges of participation of rural poor women in NGO-MFIs. In probing those issues, this book employs a different approach of investigation. In comparison with other poverty studies, this book can claim a number of distinct features. First, this book probes the participation behavior of rural poor women who face different socioeconomic, cultural and psycho-attitudinal challenges to participate in NGO-MFIs which ultimately prevented the attainment of the prime objective of poverty alleviation in Bangladesh. In analyzing those issues, this book uses a social psychological theory named the theory of planned behavior (TPB) as a theoretical model upon which the research framework was grounded upon. Second, unlike other studies which are based on relatively small and unrepresentative samples, this book is based on a nationally representative large-scale survey. Third, even though it employs a cross-sectional survey, the study explored in this book attempts to infuse an element of dynamics by employing information on both current and initial condition of resources of households being defined as the resource-base a household had inherited at the time it was formed. This type of data-set helped analyze the dynamics of resource adequacy of the participants in NGO-MFIs which yielded key insights into the challenges of poverty alleviation. Fourth, a concern with the possible influence of microfinance in the economy runs as an intrinsic theme throughout the book. In addition to devoting a long chapter of emergence of NGO-MFIs in Bangladesh, the author analyzes the role of microfinance in its specific contexts in each subsequent chapter, for example, in shaping the trends in poverty, inequality, resource accumulation and in influencing participation of the rural poor in NGO-MFIs and in affecting the ability of the rural poor to be free from poverty and to cope with environmental shocks. Some remarks on possible prospects or recommendations are provided at the end of the book.

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Book SynopsisThis book is a comprehensive compilation of all reports, testimony, correspondence and other publications issued by the GAO (Government Accountability Office) during the month of May, grouped according to the topic: Business and Finance.

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Book SynopsisThis book is a comprehensive compilation of all reports, testimony, correspondence and other publications issued by the Congressional Research Service on International Relations during the month of May.

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Book SynopsisThis is a resource for academia, practitioners, and policymakers seeking to take part in the discourses of various most updated issues within the shared prolific intersection of the three domains. It discusses headline topics such as how internet penetration and quality may improve a country's productivity, how usage of big data can predict customer churn, how connection with global value chain may stimulate demand for worker, how prominence of CSR disclosure in optimizing firm value along with the reflections of other thought-provoking topics. The configuration of this edited volume manifests the concerted connection between economics of development, business and finance in its four parts, which offer thorough investigation-based evidence on investment, technology and human capital development; corporate social responsibility, big data, and customer behaviour; reporting, auditing, business financial performance; and finance and banking. Articles in these chapters are also completed with executable managerial and policy implications providing handiness to business leaders and policymakers to walk the talk without getting overinvolved with texts and numbers.Table of ContentsPreface; Evidence of the Crowding-Out Effect in Indonesia: Comparison of 19902002 and 20032017; Finding a New Source of Growth: Impact of Internet Towards Productivity in Indonesia; Do Workers Benefit from the Global Value Chain? Lessons Learned from the Indonesian Apparel Sector; Money Talks but Education Doesnt: A Study of Economic Abuse of Married Couple in Indonesia; Labor Migration and Economic Agglomeration in Indonesia; The Effect of Board Size and Organisational Slack Resources on CSR Disclosure and Value of Indonesian Manufacturing Firms; Effects of CSR Disclosure on Firm Value: Investigating the Moderating Role of Risk Management; Firm Life Cycle, Corporate Social Responsibility and Firm Financial Performance; Predicting Customer Churn in the Indonesia Telecommunications Industry Using Big Data; Multi-Channel Retailing: Effect of Service Quality and Image Congruity on Intention to Recommend; Co-Creation in the Video Game Industry through Membership in Virtual Communities; Influence of Intrinsic Motivation and Risk-Taking Propensity on the Financial Performance of SMEs in South Sulawesi, Indonesia with Non-Financial Performance as a Mediator; The Determinants of Consumer Vulnerability to Being a Victim of Affinity Fraud; Effect of Whistleblowing and Codes of Conduct on Reported Fraud in Indonesias Banks; IFRS Convergence and Audit Fees: An ASEAN Cross-Country Study; The Effect of Diversity on Boards of Directors and Earnings Management with Audit Committee as the Moderator; Effect of Other Component Auditor Involvement in Audit Group on Audit Quality: The Role of SA 600; Does the Agency Problem Mitigate Effects of Procurement Expenditures on Local Government Performance? Evidence from Indonesia; The Effectiveness of the Board of Commissioners and Audit Committee Alleviating Fraud; The Association Among Characteristics of Boards of Commissioners, Audit Committee Members and Audit Fees in Indonesia; The Impact of Global Financial Distress and Uncertainties toward Sukuk Return Dynamics in Global Market, GCC and Non-GCC; Factors Affecting Funding Decisions of Donation-Based Crowdfunding Projects; Effects of Internal Risk Factors and Corporate Governance on Risk-Taking by Indonesian Insurance Companies; Index.

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Book SynopsisWith over 300,000 copies sold, the new edition of this comprehensive mentoring guide clearly presents all of the essential information needed to learn to trade options. Whereas most options books focus on profit and loss opportunities, this book addresses the issues of hedging market risks in an equity portfolio head on. The author presents the compelling argument that options should not be thought of as risky stand-alone trading vehicles, but offer greater value as a coordinated strategic methodology for managing equity portfolio risks as presented in numerous examples in this book. Divided into four parts, Options reflects a guiding standard of the past nine editions and includes: Crystal clear explanations of the attributes and strategies of calls and puts. A chapter on the short life of an option. This, missing in almost every options book, is a key to understanding options trading. Examples in Part 1 showing different trading strategies on both sides of the trade. The second part of the book is about closing positions; taking profit, exercising, expirations or rolling forward your position, risk analysis, profit calculations, and the impact of volatility. The third part simplifies the complex issues of advanced strategies including the various spreads, combining spreads to successfully hedge other positions and how certain strategies work. Each spread is covered in at least one detailed example. The final part is on evaluating risk. The unquestioned benefits of hedging risk and strategies that are virtually guaranteed to succeed that are generally the domain of the investment giants along with many examples are discussed. The book’s broad coverage makes it an incredibly valuable desk reference to any trader in options. You won’t get explanations like these on the internet. Michael C. Thomsett is a market expert, author, speaker, and coach. His many books include Stock Market Math, Candlestick Charting, The Mathematics of Options, and A Technical Approach to Trend Analysis. Click here to see an interview with the author. https://youtu.be/8bgrgLB3Mx4Table of ContentsPart I: The Basics 1 Chapter 1: Calls and Puts: Defining the Field of Play  3 Equity Investments  3 Debt Investments  4 Investments with No Tangible Value: Options  5 Trading Options on Exchanges  7 Calls and Puts  10 The Call Option  13 The Long-Term Call Option  20 Investment Standards for Call Buyers  21 How Call Selling Works  22 The Put Option  26 Option Valuation  32 Picking the Right Stock  37 Intrinsic Value and Time Value  38 Chapter 2: The Life of an Option  45 Expiration and Exercise  45 What is “Clearing”?  46 Bid and Ask  47 Order Entry  48 Types of Orders  49 Who Are the Players?  49 Chapter 3: Opening and Tracking: How It All Works  51 Terms of the Option (Standardized Terms)  51 Strike Price  51 Expiration Date  52 Type of Option  53 Underlying Stock  54 A Note on the Expiration Cycle  54 Opening and Closing Option Trades  56 Using the Daily Options Listings  56 Understanding Option Abbreviations  59 Calculating the Rate of Return for Sellers  61 Chapter 4: Buying Calls: Maximizing the Rosy View  65 Understanding the Limited Life of the Call  66 Judging the Call  70 Call Buying Strategies  76 Strategy 1: Calls for Leverage  76 Strategy 2: Limiting Risks  80 Strategy 3: Planning Future Purchases  81 Strategy 4: Insuring Profits  82 Strategy 5: Premium Buying  84 Strategy 6: Pure Speculation  85 Defining Profit Zones  87 Chapter 5: Buying Puts: The Positive Side of Pessimism  93 The Limited Life of the Put  95 Judging the Put  101 Put Buying Strategies  106 Strategy 1: Gaining Leverage  107 Strategy 2: Limiting Risks  109 Strategy 3: Hedging a Long Position  110 Strategy 4: Pure Speculation  114 Defining Profit Zones  115 Chapter 6: Selling Calls: Conservative and Profitable  119 Selling Uncovered Calls  121 Assessing Uncovered Call Writing Risks  126 A Question of Suitability  127 Selling Covered Calls  129 Assessing Covered Call Writing Risks  133 Calculating the Rate of Return  134 Chapter 7: Selling Puts: The Overlooked Strategy  139 Analyzing Stock Value  143 Evaluating Risks  145 Put Strategies  146 Strategy 1: Producing Income  147 Strategy 2: Using Idle Cash  149 Strategy 3: Buying Stock  150 Strategy 4: Writing a Covered Put on Short Stock  153 Strategy 5: Creating a Tax Put  153 Part II: Closing the Position  157 Chapter 8: Closing Positions: Profit, Exercise, or Roll  159 Defining Possible Outcomes of Closing Options  159 Results for the Buyer  160 Results for the Seller  160 Exercising the Option  162 Timing the Decision  168 Avoiding Exercise  171 Chapter 9: Paper Trading: A Test Run of the Theory  183 The Case for Paper Trading  185 Sites Worth Checking  187 www.Optionsxpress.com  187 marketwatch.com  188 www.investopedia.com  188 Proceeding with a Paper Trading Plan  188 The Dangers of Paper Trading  189 Chapter 10: Calculating the Return: A Complex Aspect to Options  193 Finding a Realistic Method  193 Annualizing Models and Guidelines  195 An Overview of Basic Calculations for Calls  198 You Close the Position and Calculate Option-Based Net Return  199 You Close the Position and Calculate Net Return Based on the Entire Position  199 The Covered Call is Exercised, and You Calculate Option and Stock Profits Separately  200 Any Covered Call Outcome Is Computed Strictly Based on Capital on Deposit  200 Anticipating the Likely Return  201 Chapter 11: The Basics of Risk: What Every Trader Needs to Know  205 Volatility as the Definition of Risk  205 Historical Volatility  207 Implied Volatility  210 Pricing Models  213 Risk and Human Nature  215 Confirmation Bias  216 Anchoring  216 Herding  217 Framing  217 Selective Memory  218 Loss Aversion  218 Chapter 12: Strategies in Volatile Markets: Uncertainty as an Advantage  221 Avoiding 10 Common Mistakes  222 Modifying Your Risk Tolerance  228 The Nature of Market Volatility  229 Market Volatility Risk  230 Options in the Volatile Environment  235 Part III: Advanced Strategies  241 Chapter 13: Combinations and Spreads: Creative Risk Management  243 Overview of Advanced Strategies  246 The Spread  246 The Hedge  251 The Straddle  252 The Strangle  253 Vertical Spread Strategies  255 Bull Spreads  256 Bear Spreads  258 Box Spreads  262 Debit and Credit Spreads  265 Horizontal and Diagonal Spread Strategies  265 Altering Spread Patterns  270 Varying the Number of Options  271 Expanding the Ratio  274 Strategies with Moneyness Close to Underlying Prices  277 Variations on the Butterfly  280 Multi-Leg Option Orders  281 In Conclusion  282 Chapter 14: Hedges and Straddles: More Creativity  283 The Two Types of Hedges  283 Hedging Beyond Coverage  286 Hedging Option Positions  288 Partial Coverage Strategies  292 Straddle Strategies  295 Middle Loss Zones  295 Middle Profit Zones  298 Theory and Practice of Combined Techniques  301 In Conclusion  302 Chapter 15: Options for Specialized Trading: Leveraging the Technical Approach  303 Swing Trading Basics  305 The Setup Signal  308 Testing the Theory  311 A Strategic View of Option for Swing Trading  313 Selection of Stocks Based on Value  313 A Stock’s Price Volatility  314 Price History (Recent and Potential)  315 The Price-To-Earnings (P/E) Ratio of the Stock  315 Fundamental and Technical Tests of the Company and Stock  316 Options Used for Other Trading Strategies  316 Swing- and Day-Trading Advanced Strategies  317 Taking Partial Profits  318 Partial Exercise  319 Add More Option Contracts in Times of Price Momentum  319 In Conclusion  320 Chapter 16: Options on Futures: Leveraging Your Leverage  321 Important Distinctions  322 Regulatory Differences  326 In Conclusion  328 Chapter 17: Synthetic Positions: Tracking the Stock  331 Synthetic Put (Protected Short Sale)  333 Synthetic Long Call (Insurance Put, or Married Put)  334 Synthetic Long Stock  336 Synthetic Short Stock  338 Split Strike Strategy (Bullish)  340 Split Strike Strategy (Bearish)  342 Collars  343 Synthetic Straddles  350 In Conclusion  353 Part IV: Risk Evaluation  355 Chapter 18: Risk: Rules of the Game  357 Identifying the Range of Risk  357 Margin and Collateral Risk  360 Personal Goal Risks  360 Risk of Unavailable Market  361 Risk of Disruption in Trading  362 Brokerage Risks  363 Trading Cost Risk  363 Lost Opportunity Risks  364 Tax Consequence Risk  365 Evaluating Your Risk Tolerance  366 In Conclusion  367 Chapter 19: Taxes: The Wild Card of Options Trading  369 Tax Rules for Options  369 Qualified Covered Calls—Special Rules  373 Looking to the Future  378 In Conclusion  379 Chapter 20: Choosing Stocks: Finding the Right Ingredients  381 Developing a Covered Call Action Plan  385 Selecting Stocks for Call Writing  387 Benefiting from Price Appreciation  388 Analyzing Stocks  390 Fundamental Tests  394 Technical Tests  398 Deciding Which Tests to Apply  400 Applying Analysis to Options—the “Greeks”  401 Beta  402 Delta  402 The Rest of the Greeks  404 Acting on Good Information  406 Putting Your Rules Down on Paper  407 In Conclusion  408 Glossary  409 Index  409

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Book SynopsisCentral Bank Balance Sheet and Real Business Cycles argues that a deeper comprehension of changes to the central bank balance sheet can lead to more effective policymaking. Any transaction engaged in by the central bank—issuing currency, conducting foreign exchange operations, investing its own funds, intervening to provide emergency liquidity assistance and carrying out monetary policy operations—influences its balance sheet. Despite this, many central banks throughout the world have largely ignored balance sheet movements, and have instead focused on implementing interest rates. In this book, Mustapha Abiodun Akinkunmi highlights the challenges and controversies faced by central banks in the past and present when implementing policies, and analyzes the links between these policies, the central bank balance sheet, and the consequences to economies as a whole. He argues that the composition and evolution of the central bank balance sheet provides a valuable basis for understanding the needs of an economy, and is an important tool in developing strategies that would most effectively achieve policy goals. This book is an important resource for anyone interested in monetary policy or whose work is affected by the actions of the policies of central banks.Table of ContentsChapter 1: Global Genesis of the Central Bank  1 1.1 Origin of the Central Bank  1 1.2 Roles of the Central Bank  1 Questions  3 Chapter 2: Relevance of the Central Bank Balance Sheet  5 2.1 Understanding Relevance of Central Bank Balance Sheet in Functions of Economy  5 2.1.1 Similarities and Differences between a Company’s Balance Sheet and a Central Bank Balance Sheet  5 2.2 Trajectory Relevance of the Central Bank Balance Sheet  8 2.3 Externality of the Central Bank Balance Sheet Size  12 Questions  13 Chapter 3: Components of Central Bank Balance Sheets  15 3.1 Factors Influence the Reporting Frequency of Central Bank Balance Sheets  17 3.2 Components of Central Bank Assets and their Composition Analysis  18 3.2.1 Foreign Assets  18 3.3 Components of Central Bank Liabilities and their Composition Analysis  20 3.3.1 Banknotes  21 3.3.2 Commercial Bank Reserves  23 3.3.3 Capital  23 Questions  25 Chapter 4: Analytical Framework of Central Bank Balance Sheets  27 4.1 Structure of Central Bank Balance Sheets  27 4.2 Balance Sheet Indicators  28 4.2.1 Computation of Indicators  28 4.2.2 Significance of these Indicators  29 4.2.3 Underlying Assumptions of Four Indicators  29 4.3 Determinants of Central Bank Balance Sheet Composition  30 4.4 Classification of Central Bank Balance Sheet Components  31 4.5 Theoretical Landscape: Quantity Theory of Money versus Quality Theory of Money  32 4.5.1 Quantity Theory of Money  32 4.5.2 Quality Theory of Money  34 Questions  39 Chapter 5: Evolution of Central Bank Balance Sheets and Their Heterogeneous Dimensions  41 5.1 What Makes Central Bank Balance Sheets Special?  41 5.2 Historic Uses of Central Bank Balance Sheets  43 5.3 Composition of Central Bank Balance Sheet Liabilities  44 5.3.1 Central Bank Liabilities in Normal Times  45 5.3.2 Snapshot of Selected Economies’ Performance before the 2007–008 Crisis  46 5.3.3 Country-by-Country Snapshots of Economic Structure Since 2005  47 5.3.4 A Look at the Balance Sheets: 2005 and 2006  56 5.3.5 Snapshot of Selected Economies’ Performance during the 2007–008 Crisis  65 5.3.6 Snapshot of Selected Economies’ Performance Today  74 5.3.7 Central Bank Liabilities Today  78 Conclusion  86 Questions  86 Chapter 6: Composition of Central Bank Balance Sheet Assets  87 6.1 Central Bank Assets in Normal Times  87 6.1.1 Central Bank Assets of Emerging Economies  95 6.2 Central Bank Assets During the 2007–2008 Crisis  96 6.2.1 Central Bank Assets of Developing and Emerging Economies during the 2007–2008 Crisis  104 6.3 Central Bank Assets Today  104 6.3.1 Central Bank Assets of Emerging Economies Today  112 6.4 Asset-Side Composition and Economic Growth Nexus  115 6.4.1 Asset-Growth Nexus before the 2007–2008 Crisis  115 6.4.2 Asset-Growth Nexus during the 2007–2008 Crisis  116 6.4.3 Asset-Growth Nexus after the 2007–2008 Crisis  116 6.5 The Evolution of Central Bank Balance Sheets in the Future  117 Questions  119 Chapter 7: Financial Ratios of the Central Bank Balance Sheet  121 7.1 International Strength  121 7.2 External Strength Ratio  122 7.3 External Impact Ratio  123 7.4 Liquidity Ratios I, II, and III  123 7.4.1 Liquidity Ratio I  124 7.4.2 Liquidity Ratio II  124 7.4.3 Liquidity Ratio III  124 7.5 Equity Ratio  125 Questions  126 Chapter 8: Central Bank Operations  127 8.1 Types of Central Bank Operations  127 8.1.1 Supply Liquidity  127 8.1.2 Absorb Excess Liquidity  127 8.1.3 Asset Securities  128 8.1.4 Off Balance Swap  131 8.2 Central Bank Policy Instruments  131 8.2.1 Open Market Operations  131 8.2.2 Reserve Requirements  132 8.2.3 Discount Rate  134 8.2.4 Money Market Investor Funding Facility  135 8.2.5 Term Auction Facility  136 8.2.6 Commercial Paper Funding Facility  137 8.2.7 Primary Dealer Credit Facility  140 8.2.8 Recap of Policy Instruments  141 Questions  141 Chapter 9: Real Business Cycles  143 9.1 The RBC Model  143 9.1.1 Features of RBC Models  144 9.1.2 Basic Economic Factors  145 9.1.3 Fluctuations in the Business Cycle  145 9.1.4 Boom and Recession  145 9.2 Concept of RBCs Applied to Economic Policy  149 9.3 Techniques of Estimating RBCs  150 9.4 Methods to Estimate Potential Output and Output Gaps  151 9.4.1 Trending Methods  152 9.4.2 Univariate Filters Method  153 9.4.3 Multivariate Filters  156 9.4.4 Production Function Approaches  157 9.4.5 Criteria for Evaluating Different Methods of Estimating Potential Output  161 Questions  165 Chapter 10: Central Bank Balance Sheets and Real Business Cycles  167 10.1 Linkages between Central Bank Balance Sheets and Real Business Cycles  167 10.1.1 Monetary Policies and Business Cycles  168 10.1.2 Identifying an Acceptable Range of Values  169 10.1.3 Asset Transparency  170 10.2 Impact Evaluation of Central Bank Balance Sheets on Economic Environment  171 10.2.1 Central Bank Balance Sheets and Debt Management  172 10.2.2 Modeling Challenges Confronting Central Bank Balance Sheets  173 Questions  177 Chapter 11: Conclusion  179 Questions Left Unanswered: Areas for Future Research  180 Policy Debates  181 Appendix I: Central Bank Balance Sheets of Different Countries  183 Asia Region  183 Malaysia’s Central Bank Balance Sheets for the Month of February 2018  183 Monetary Authority of Singapore  184 Africa Region  185 Nigeria’s Central Bank Balance Sheets for the Month of November 2017  185 South America  186 Central Reserve Bank of Peru  186 Brazil  188 Chile  189 Argentina  190 North America  193 Mexico  193 Canada  194 United States  195 Appendix II: Abbreviations  197 References  199 Index  205

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