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 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…
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…
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…
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…
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…
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…
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…
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…
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 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…
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…
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 …
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…
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…
This compendium provides a comprehensive overview of the most important topics covered in a corporate finance course at the Bachelor, Master or MBA level. The intension is to supplement renowned corporate finance textbooks such as Brealey, Myers and Allen’s “ Corporate Finance”, Damodaran’s “Corporate Finance – Theory and Practice”, and Ross, Westerfield and J…
This book has been written for business owners and managers who want to refine the accounting and financial operations of their companies. It provides detailed information about how to run these operations, track cash flows, conduct analyses, analyze key financial information, create a corporate risk management strategy, and manage tax liabilities—in short, all of the key accounting and finan…
Tins is an unconventional book practical rather than theoretical. The methods of financing foreign trade described in it may not follow exactly the ordinary accepted rules laid down by writers on economics, but they are those to which the importer and exporter have to conform when seeking financial facilities from bankers. " If you would only tell us how you do the business, and what it…
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 to er…
In today’s healthcare environment, where financial realities play an important role in business decision making, it is vital that managers at all levels under- stand the basic concepts of healthcare finance and how these concepts are used to enhance the financial well-being of the organization. In this chapter, we introduce readers to the book, including its goals and organization. Fur- th…
The idea is to provide the necessary theory on a "need-to-know" basis. In this way, readers who choose not to cover the continuous pricing theory, for example, need not deal with matters related to continuous probability. The book is organized as follows. The first chapter is devoted to the elements of discrete probability. The discussion includes such topics as random variables, independe…