Advanced Modelling in Finance

We hope that our text, Advanced Modelling in Finance, is conclusive proof that a wide range of models can now be successfully implemented using spreadsheets. The models range across the complete spectrum of finance including equities, equity options and bond options spanning developments from the early fifties to the late nineties. The models are implemented in Excel spreadsheets, complemen…

The Management of Global Financial Markets

The preface of a 1992 publication from the Forum on Debt and Development (Fondad), Fragile Finance: Rethinking the International Monetary System, included the following statement: “In the face of dangerous instability of global financial flows it is high time for policymakers to seriously rethink the role they should play in a market-based international monetary and financial system. Nat…

CORPORATE FINANCE An Introduction

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13: 978-0-321-27799-

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CORPORATE FINANCE An Introduction

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Quantitative Methods in Finance

This chapter introduces the functions that are commonly used in finance and discusses their properties and applications. For instance, the exponential function is used to discount forward prices to their present value and the inverse of the exponential function, the natural logarithmic function or ‘log’ for short, is used to compute returns in continuous time. We shall encounter numerous ot…

FINANCIAL INCLUSION

The Little Data Book on Financial Inclusion 2015 is a pocket edition of the Global Financial Inclusion (Global Findex) database published in 2015. This data set represents a second round of data collection, following the initial round three years earlier. The database provides nationally representative, demand-side data on access to and use of accounts, credit, payments, and savings by adults a…

VAULT FINANCE INTERVIEW

t brings you a new service to help you prepare for your finance interviews. Your 1-hour live session with a Vault finance expert will include an actual 30- minute finance interview, which will be immediately followed by a 30-minute critique and Q&A session with your expert.

RETHINKING SOVEREIGN DEBT

Sovereign debt markets have demonstrated incredible resilience despite a century of dramatic political and economic upheaval. Among the most remarkable aspects of the contemporary debt regime is the degree to which expectations of borrowers remain relatively uniform even in the face of such major shifts. These basic expectations resolve into one background rule: sovereign borrowers must repa…

Emerging from the Euro Debt Crisis

Despite the impressive rebound seen on European financial markets following Mario Draghi’s famous speech in late July 2012, European leaders still face formidable challenges. The restoration of some confidence on financial markets should not conceal the long-term challenges to make the European Monetary Union function better in future and to make it more resilient to shocks. Despite somewhat …

The Future of the Euro

The purpose of this book is to move beyond a purely economic under- standing of the euro crisis and its likely aftermath by emphasizing the political foundations of markets. Our goals in doing so are threefold: first, to develop a holistic understanding of what caused the euro crisis, which incorporates political, ideational, institutional, as well as economic and financial factors; second, to …

The Fall of the House of Credit

Why would anyone who does not work in the banking industry want to read a book about banking? The subject should be a bore. Savings accounts are not fashionable. Mortgages do not entertain. Most of us – well, apart from banking professionals and a few banking professors like myself – have better things to do than think about payment cards or credit transfers. All we want from banks is secur…

Access device fraud and related financial crimes

An informant once said to us, “Man, you have to be crazy to use a gun to hold up a bank; those credit cards can get you the same thing with no risk.” Whether it be filling out fraudulent applications, stealing cards from the mail, or taking over legitimate accounts, it can be done — “You have to pick them though, watch out for the good banks; they’ve got systems to catch you if you …

THE ROLE OF CENTRAL BANKS IN FINANCIAL STABILITY How Has It Changed?

The wide-scale financial crisis of recent years has focused attention on the role of central banks in achieving and maintaining financial stability. Indeed, financial stability was the primary reason for the establishment of many of the earliest central banks. But as financial crises diminished in frequency and severity in the post-World War II period, particularly in industrial coun- tries, ce…

Debt, Risk and Liquidity in Futures Markets

The issues of developing country debt crises, increased volatility and risk, and the determination of market liquidity are high on the agendas of policy-makers, market participants and researchers in the area of financial markets. These issues are also of major importance to regulators and exchange officials. This book contains a collection of eight papers which provide new insights into all th…

Credit Rating Agencies

This book is a descriptive treaty proving a critical overview of the law of credit rating agencies (CRAs) on both sides of the Atlantic. It examines the regulations introduced, how effective the mechanisms for the enforcement of these regulations are, whether they act as a deterrent to CRAs and whether or not investors receive compensation for their losses. The book embarks on a systematic jour…

Statistics in Business, Finance, Management & Information Technology

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tenth edition

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Statistics in Business, Finance, Management & Information Technology

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Interest Rates in Financial Analysis and Valuation

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9788776819286

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Interest Rates in Financial Analysis and Valuation

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INTERNATIONAL FINANCE AND ACCOUNTING HANDBOOK

This handbook is intended as a reference for financial managers, credit and security analysts, bankers, lawyers, accountants, auditors, and educators, whose decisions en- compass the international dimensions of financial analysis, reporting, and control. It expands and updates the topical coverage of its award-winning predecessor, The Handbook of International Accounting, and, in its second e…

CRIMINAL CAPITAL

For much of the last 20 years, I have sifted through thousands of files relating to hundreds of relationships involving financial institutions in different parts of the world that have either facilitated crimes or laundered the proceeds of crimes on behalf of customers. I have tried to maintain a balanced perspective, recognising that many financial institutions are committed to the preventio…

Policy and Choice

Then should the government intervene in the economy? When do mar- kets fail? How do we craft policies that maximize social welfare? How do we design policies to minimize unintended consequences? Traditional public finance provides a powerful framework to tackle those questions. This frame- work, however, relies on an overly simple model of human behavior. This book revisits the core questions…

The Capital Asset Pricing Model

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1st Edition

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Financial System Stability, Regulation, and Financial Inclusion

Asia and the Pacific has been advancing in many aspects of its development, but the potential for growth is vast. The ADB Institute Series on Development Economics aims to identify and propose solutions using a multidisciplinary approach to impor- tant development issues facing economies in the Asia and Pacific region. Through edited volumes and monographs, the series showcases the research out…

Fundamentals of Financial Management

Financial management continues to change at a rapid pace. Advancements are occurring not only in the theory of financial management but also in its real-world practice. One result has been for financial management to take on a greater strategic focus, as managers struggle to create value within a corporate setting. In the process of value creation, financial managers are increasingly supple…

Mathematics for Finance: An Introduction to Financial Engineering

True to its title, this book itself is an excellent financial investment. For the price of one volume it teaches two Nobel Prize winning theories, with plenty more included for good measure. How many undergraduate mathematics textbooks can boast such a claim? Building on mathematical models of bond and stock prices, these two theories lead in different directions: Black–Scholes arbitrage…

THE INTELLIGENT INVESTOR

The purpose of this book is to supply, in a form suitable for laymen, guidance in the adoption and execution of an investment policy. Comparatively little will be said here about the technique of analyzing securities; attention will be paid chiefly to investment principles and investors’ attitudes. We shall, however, provide a number of condensed comparisons of specific securities—chie…

Sustainable financing for forest and landscape restoration

The international community has set ambitious goals for forest and landscape restoration (FLR), including reaching land degradation neutrality by 2030 (Target 15.3 of the Sustainable Development Goals), restoring 150 million hectares by 2020 in the framework of the Bonn Challenge, and restoring 350 million hectares by 2030 under the New York Declaration on Forests. The technical feasibility…

Ten years after: Revisiting the Asian Financial Crisis

The Asian financial crisis of 1997-98 is now seen as one of the most significant economic events in recent world history. The crisis began in early July 1997, when the Thai baht was floated, and spread into a virulent contagion—leaping from Thailand to South Korea, Indonesia, the Philippines, and Malaysia. It led to severe currency depreciations and an economic recession that threatened …

Fundamentals of Corporate Finance

This material is an introduction to corporate finance. We will discuss the various responsibilities of the corporation’s financial managers and show you how to tackle many of the problems that these managers are expected to solve. We begin with a discussion of the corporation, the financial decisions it needs to make, and why they are important. To survive and prosper, a company must sat…

Financial Institutions: An Introduction

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9788740308860

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Financial Institutions: An Introduction

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Markets, Money and Capital

One important premise of Hicks’s theoretical framework is the distinction between the structure of reality and the purpose-oriented arrangement of human actions. There are reasons to believe that, at an early stage of his development as an economist, Hicks came across the distinction between an ‘order of being’ and an ‘order of doing,’ as discussed by Maffeo Pantaleoni (Pantaleoni, 19…

Bond Market: An Introduction

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1st Edition

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9788740305937

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Bond Market: An Introduction

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