The psychological dimension of managing risk is of crucial importance, and its study has led to the identification of specific do's and don'ts. Those with an understanding of the psychology underlying risk and the skills to recognize its manifestation in practice, have the opportunity to develop frameworks that embody the do's and don'ts, thereby producing sound judgments and good decisions. Those lacking the understanding and the skills are destined to be more hit and miss in their approach to risk management, doing the don'ts and not doing the do's. Virtually every major risk management catastrophe in the last fifteen years has psychological pitfalls at its root. The list of catastrophes includes the 2008 bankruptcy of Lehman Brothers and subsequent global financial crisis, the 2010 explosion at BP's Macondo well in the Gulf of Mexico and the 2011 nuclear meltdown at the Fukushima Daiichi power plant. A critical lesson from psychological studies for those involved in risk management is that people's judgments and decisions about risk vary with type of circumstance. In Behavioral Risk Management readers will learn that there are specific actions that organizations can undertake to incorporate understanding, recognition, and behavioral interventions into the practice of risk management. There are many examples throughout the book that illustrate doing the don'ts. The chapters in the first part of the book introduce the main ideas, and the chapters in the latter part provide insight into how to apply those ideas to the practical world in which risk managers operate.

Achieving Excellence in Fundraising is the go-to reference for fundraising principles, concepts, and techniques. With comprehensive guidance toward the fundraising role, this book reflects the latest advances in fundraising knowledge. Coverage includes evolving technologies, the importance of high net worth donors, global fundraising perspectives, results analysis and performance evaluation, accountability, and credentialing, with contributions from noted experts in the field. You'll gain essential insight into the practice of fundraising and the fundraising cycle, reinforced by ancillary discussion questions, case studies, and additional readings. With contributions from members of The Fund Raising School and the faculty of Indiana University's Lilly Family School of Philanthropy, this new edition includes detailed guidance on nonprofit accounting practices as defined by the Financial Accounting Standards Board and the American Institute of Certified Public Accountants, rounding out the complete, thorough coverage of the fundraising profession. Designed to provide both theory and practical knowledge, this book is an all-in-one resource for anyone who performs fundraising duties. * Understand donor dynamics and craft an institutional development plan * Explore essential marketing and solicitation techniques * Learn effective volunteer recruitment, retention, and management strategies Fundraising merges a variety of fields including psychology, business management, accounting, and marketing, making it a unique role that requires a uniquely well rounded yet focused skillset. Amidst economic uncertainty and a widening wealth gap the world over, it's more important than ever for fundraisers to have a firm grasp on the tools at their disposal. Achieving Excellence in Fundraising is the ultimate guide to succeeding in this critical role.

In recent years the continuity of many firms has been achieved by restructuring, a task which takes up a great deal of senior management's time. Written for busy managers and executives, this book is a practical guide to the process of restructuring, covering both debt and operational restructures.

Social finance and social investment are not challenging concepts to grasp. They use commercial-style investment tools to create a social as well as a financial return. The application, however, is not always as straightforward. This book begins in the wider field of social finance but focuses primarily on social investment as a tool. The reader is helped to understand this from different angles: introducing social investment, discussing social investment and taking a "deep-dive" into it to bring it to life. This unique book takes the reader on a journey from first principles to detailed practical application. This book examines the policy context and asks why social investment has only recently become so popular, when in reality this is a very old concept. This is linked to the agenda of making charities more "business-like", set against the changing face of investment, as charities can no longer rely on donations and grants as guaranteed income. The work they do is more important than ever and social investment, used with care, offers a new opportunity that is further explored in this text. Mark Salway, Paul Palmer, Peter Grant and Jim Clifford will help readers understand how a small amount of borrowing, or a different business model focused away from grants and donations, could be transformational for the non-profit sector.

Cost models underlie all the techniques used in construction cost and price forecasting, yet until relatively recently industry has been unfamiliar with their characteristics and properties. An understanding of the various types of cost model is vital to enable effective cost control and the development of future forecasting techniques. This volume brings together more than 20 seminal contributions to building cost modelling and introduces the major landmarks in progress and thinking in this field: * strategies and directions * explorations in cost modelling * cost-product/process modelling * dealing with uncertainty The strong techniques bias of this book will appeal to construction professionals involved in estimating, as well as researchers and students of building economics.

Drawing upon current cutting-edge theories, knowledge and research findings, this Handbook provides an analysis of the interaction between small and medium-sized enterprises (SMEs), entrepreneurs and financial institutions globally. The contributors consider regional and international perspectives within and between Europe, North America, New Zealand, the Middle East, as well as South, Central and East Asia on a chapter-by-chapter basis. In so doing, they provide a contextualized, up-to-date snapshot of research into entrepreneurial finance across the world. This book is aimed at both established and emergent researchers, as well as undergraduate and postgraduate students looking for avenues of future research into entrepreneurial finance. It will also be of use to policymakers and practitioners seeking a global perspective in their work. Contributors: M. Akoorie, H. Al-Dajani, R. Baldock, Z. Bika, T. Botelho, C.G. Brush, D. Deakins, D. Demirba , S. Demirba , L.F. Edelman, R.T. Harrison, S. Heilbrunn, J.G. Hussain, N. Kushnirovich, J. Li, C. Mac an Bhaird, S. Mahmood, T.S. Manolova, C. Mason, H. Matlay, M. Nitani, D. North, I. Peiris, A. Riding, N. Sandhu, J.M. Scott, P. Sinha, M. Subalova, S. Talbot, G. Whittam

"Like a true Master in Fine Arts, Michel Fleuriet is able to combine a great historical culture with a deep technical background to give us a brilliant and synthetic view of the fundamentals driving financial markets. This book should be a reference in a troubled period where everyone, from the non professional investor to the sophisticated professional, needs to go back to basics!" Henri de Castries, Chairman of the Management Board and CEO, Axa

"As only a talented teacher and seasoned professional can, Fleuriet makes the understanding of capital markets and complex financial instruments unbelievably easy. What a tour de force! So-called financial innovations are given a unique historical perspective that stresses their critical importance since the origin of trade. This book is an absolute must for the novice and should be required reading for all traders, portfolio managers and investment bankers." Michel Crouhy, Head of Business Analytic Solutions, Canadian Imperial Bank of Commerce

"This is a book that every practitioner should take with him to a desert island. Fleuriet does a beautiful job of blending market expertise from around the world, looking at the historic view as well as up-to-date theoretical developments. He presents strong ideas and interesting opinions to explain the present and explore the future. This book takes a truly global and novel approach to economics." Jerome P. Kenney, EVP and Vice Chairman, Merrill Lynch & Co.

Originally published in 1976, this book discusses the management skills needed to evaluate, implement and control computer-based operation. Every chapter contains detailed check lists which guide the reader to formulate policies to deal with real situations. It provides a practical look at an indispensable tool of management, with a set of guidelines to help get the most out of the available technology.

Until now there were no published analyses of the recent solvency work conducted in Europe, specifically the risk categories proposed by the International Actuarial Association (IAA). Answering the insurance industry's demand in the wake of the EU Solvency II project, Solvency: Models, Assessment and Regulation provides a concrete summary and review of solvency and inspires additional work in the field. Following an introduction to the concept, the first section of the book provides a historical review of solvency, detailing solvency regulation and accounting within the EU. A review of the steps leading to Solvency II looks at accounting, supervision, the actuarial field, the first phase of Solvency II, international approaches to banking, and the solvency systems of 12 major nations. The second section explores the current basis for solvency modeling, focusing on the valuation of assets and liabilities, dependency and various conservative approaches, as well as a baseline and benchmark approach. This section also provides examples of risk structure and the effects of diversification. The final section discusses groups and internal modeling as it relates to EU Solvency II. It addresses insurance groups, financial conglomerates, reinsurance, the importance of internal modeling and stress testing, and the current state of the second phase of EU Solvency II.

The IPO Decision is an exciting new book that clarifies how the initial public offering (IPO) process actually works. It separates fact from fiction and imposes a logical structure on the most up-to-date IPO-related research. All major topics pertaining to the going-public process are included: IPO timing, the financial, strategic, and corporate governance benefits and costs of public ownership, corporate restructuring, valuation, the role of the investment bank in the primary and secondary markets, the optimality of IPO mechanisms (book-building vs. auctions), analyst coverage, and the long-run performance of IPOs. IPOs garnered unprecedented positive attention in the 1990s for their spectacular returns and central role in entrepreneurial activity. Subsequent revelations of unscrupulous IPO allocation and promotion practices cast a less favorable shadow. The latest significant event in the IPO market is Google's unconventional use of an auction for its offering. Public discussion and debate about these developments has often taken place in an information vacuum, leading to misunderstandings and false conclusions. Unparalleled in its scope, The IPO Decision presents the findings from theoretical and empirical research in a rigorous yet accessible manner. In doing so, it develops the intellectual foundation necessary for a constructive dialogue about reforming the IPO process. Scholars, students and industry professionals interested in the economics of IPOs will find this volume a comprehensive and engaging addition to their library.

Finance is key to every business organisation as well as outside. This book makes sense of the finance world from a non-finance perspective. It introduces, explains and demystifies essential ideas of business finance to those who do not have financial background or training. Lucid, accessible, yet comprehensive, the book delineates the financial workings of businesses and offers an overview of corporate finance in the global context. The volume: Contains effective tools for financial communication, monitoring, analysis and resource allocation; Provides important learning aids such as figures, tables, illustrations and case studies; Highlights fundamental concepts and applications of finance; Surveys global corporate practices, recent trends and current data. This updated second edition contains new sections on Tax Planning, including Income Tax and Goods and Services Tax in India. A guide to building financial acumen, this book will be a useful resource for executive and management development programmes (EDPs & MDPs) oriented towards business managers, including MBA programmes. It will benefit business executives, corporate heads, entrepreneurs, government officials, teachers, researchers, and students of management and business, as well as those who deal with finance or financial matters in their daily lives.

Finance is key to every business organisation as well as outside. This book makes sense of the finance world from a non-finance perspective. It introduces, explains and demystifies essential ideas of business finance to those who do not have financial background or training. Lucid, accessible, yet comprehensive, the book delineates the financial workings of businesses and offers an overview of corporate finance in the global context. The volume: Contains effective tools for financial communication, monitoring, analysis and resource allocation; Provides important learning aids such as figures, tables, illustrations and case studies; Highlights fundamental concepts and applications of finance; Surveys global corporate practices, recent trends and current data. This updated second edition contains new sections on Tax Planning, including Income Tax and Goods and Services Tax in India. A guide to building financial acumen, this book will be a useful resource for executive and management development programmes (EDPs & MDPs) oriented towards business managers, including MBA programmes. It will benefit business executives, corporate heads, entrepreneurs, government officials, teachers, researchers, and students of management and business, as well as those who deal with finance or financial matters in their daily lives.

Proper cost accounting and financial management are essential elements of any successful construction job, and therefore make up essential skills for construction project managers and project engineers. Many textbooks on the market focus on the theoretical principles of accounting and finance required for head office staff like the chief financial officer (CFO) of a construction firm. This book's unique practical approach focuses on the activities of the construction management team, including the project manager, superintendent, project engineer, and jobsite cost engineers and cost accountants. In short, this book provides a seamless connection between cost accounting and construction project management from the construction management practitioner's perspective. Following a complete accounting cycle, from the original estimate through cost controls to financial close-out, the book makes use of one commercial construction project case study throughout. It covers key topics like financial statements, ratios, cost control, earned value, equipment depreciation, cash flow, and pay requests. But unlike other texts, this book also covers additional financial responsibilities such as cost estimates, change orders, and project close-out. Also included are more advanced accounting and financial topics such as supply chain management, activity-based accounting, lean construction techniques, taxes, and the developer's pro forma. Each chapter contains review questions and applied exercises and the book is supplemented with an eResource with instructor manual, estimates and schedules, further cases and figures from the book. This textbook is ideal for use in all cost accounting and financial management classes on both undergraduate and graduate level construction management or construction engineering programs.

This volume, originally published in 1995, examines the mechanisms by which businesses that have the capacity to grow - whether in terms of output, innovation or export - acquire the cash that enables growth. Addressing an issue of central importance to the competitiveness of firms and economies, this book draws together research by leading academics in the area. Throughout, research studies develop the themes of market failure, finance gaps and failure of demand. They also bring out the linkages between the financing choices facing the growing firm and the issues of organisation and of corporate governance that have to be address during the process of growth and maturity. Contributors challenge financial orthodoxy throughout, providing coherent analyses of the difficulties faced in the finance of the growing enterprise, from its early dependence on banks and informal finance to the pinnacle of a stock exchange listing.

The maths, the formulas, and the problems associated with corporate finance can be daunting to the uninitiated, but help is at hand. Corporate Finance For Dummies, UK Edition covers all the basics of corporate finance, including: accounting statements; cash flow; raising and managing capital; choosing investments; managing risk; determining dividends; mergers and acquisitions; and valuation. It also serves as an excellent resource to supplement corporate finance coursework and as a primer for exams. Inside you ll discover: * The tools and expert advice you need to understand corporate finance principles and strategies * Introductions to the practices of determining an operating budget, calculating future cash flow, and scenario analysis - in plain English * Information on the risks and rewards associated with corporate finance and lending * Easy to understand explanations and examples * Help to pass your corporate finance exam!

As a small business owner, having knowledge of crucial numbers is the most important tool you can equip yourself with to survive today's competitive marketplace. If you're not a numbers person, Accounting for the Numberphobic is to the rescue! Why do so many business owners dread looking at the numbers? Financial statements, ledgers, profit and loss reports--many avoid these and treat them like junk mail and phone solicitors. Nevertheless, it's true--you're not a numbers person. How can you learn to make sense out of all this Greek? This easy-to-follow guide demystifies your company's financial dashboard: the Net Income Statement, Cash Flow Statement, and Balance Sheet. The book explains in plain English how each measurement reflects the overall health of your business--and impacts your decisions. In Accounting for the Numberphobic, you will discover: How your Net Income Statement is the key to growing your profits; How to identify the break-even point that means your business is self-sustaining; Real-world advice on measuring and increasing cash flow; What the Balance Sheet reveals about your company's worth; And much more! Don't leave your company's finances entirely in the hands of a third-party accounting service or an employee who is only loyal to the highest paycheck. Knowing the numbers yourself isn't just about seeing how your company is doing, it's about knowing where it is going--and guiding it toward the highest profits possible.

This highly accessible book brings together the insights of leading academics and researchers to promote a better understanding of the role of private equity providers in the development of growth-oriented start-ups and the management of growth processes. The book explores the domain of start-up and business venturing, and within this realm, the perspectives of the entrepreneur, the venture capitalist, the financial community and the role of government in private equity are considered. Specifically, topics discussed include: * the venture capital industry * investment in venture capital funds in Europe * the Equity Gap * European private equity funds * the role of private equity in the creation of university spin-out companies * motivation of entrepreneurs towards private equity operations. Providing theoretical frameworks together with practical conclusions and implications, this book will be warmly welcomed by academics and practitioners alike. It will be of particular value to scholars with an interest in business, management and entrepreneurship, to investment professionals and policy advisors involved in stimulating entrepreneurship, and, of course, to entrepreneurs themselves.

This book provides coherent theoretical and empirical analysis of firms' investment and financing decisions. It assesses the role of uncertainty, financial imperfections, corporate governance and taxation. Evidence is obtained using several unique and high quality microeconomic data-sets, which explore features seldom addressed. Overall, the empirical results confirm theoretical precedents. Some firms are indeed financially constrained, for fixed investment as well as for R&D projects. The 'free cash-flow' hypothesis holds, that is managers divert excess funds away for their own interests, but less so in closely controlled companies. In accordance with the real option theory, the results suggest that uncertainty leads firms to adopt a 'wait and see' strategy which eventually reduces investment, especially for irreversible investment. Corporate governance features are shown to affect managers, discipline and companies' restructuring plans. Finally, different tax reforms are evaluated, and an alternative tax structure that would stimulate growth is proposed. Scholars, including those with an interest in microeconomics and econometrics, and staff within central banks and national and international organisations will also find the book of interest, as will policymakers and decision-makers concerned with the role of financing, corporate governance and taxation on firm's decisions.

Risk Monetization: Converting Threats and Opportunities into Impact on Project Value addresses the organizational, political, cultural, and technical issues related to implementing a successful risk assessment, management, and monetization process. Suitable for readers in any organization or area of expertise, the book assumes no prior background in risk assessment, management, or monetization. With more than three decades of experience in risk-process implementation, the author first explains the benefits of the risk-monetization process and how risk matters are generally not handled properly in contemporary organizations. He then introduces the terms and definitions essential to making risk monetization successful in a project. The text goes on to give examples of risk-monetization techniques applied in a variety of settings before discussing the typical risk situation for most projects and the shortcomings of conventional processes. It also describes how risk identification, assessment, management, and monetization processes are set up in an ideal environment as well as in imperfect situations. The final chapter focuses on how investment decisions are made based on the monetization and ranking of risks. Enhancing your project's value, this book offers step-by-step practical guidance on identifying, assessing, managing, and monetizing both threats and opportunities so that risk impedes the bottom line as little as possible. It shows you how to convert probable risks into positive impacts on the chance of success and/or profitability of any project.

This highly accessible book brings together the insights of leading academics and researchers to promote a better understanding of the role of private equity providers in the development of growth-oriented start-ups and the management of growth processes. The book explores the domain of start-up and business venturing, and within this realm, the perspectives of the entrepreneur, the venture capitalist, the financial community and the role of government in private equity are considered. Specifically, topics discussed include: * the venture capital industry * investment in venture capital funds in Europe * the Equity Gap * European private equity funds * the role of private equity in the creation of university spin-out companies * motivation of entrepreneurs towards private equity operations. Providing theoretical frameworks together with practical conclusions and implications, this book will be warmly welcomed by academics and practitioners alike. It will be of particular value to scholars with an interest in business, management and entrepreneurship, to investment professionals and policy advisors involved in stimulating entrepreneurship, and, of course, to entrepreneurs themselves.

After a fairly low threshold, income and material wealth have no measurable effect on happiness. But how we spend our money does. In this groundbreaking book, Dr Elizabeth Dunn and Dr Michael Norton explain the secret to "happiness-efficient" spending. Using their own cutting-edge research, they reveal: * Why it's better to buy concert tickets instead of a new iPhone * Adverts actually make television more enjoyable * Why you should book your next holiday many months in advance * How "time affluence" is more important than a fat pay cheque * Why charitable giving is the best investment you can make A rare combination of informed science writing, wit, and practical pointers for a flourishing life, Happy Money will help you to be more fulfilled for less.

The world of construction is intrinsically linked with that of finance, from the procurement and tendering stage of projects right through to valuation of buildings. In addition to this, things like administrations, liquidations, mergers, take-overs, buy-outs and floatations affect construction firms as they do all other companies. This book is a rare explanation of common construction management activities from a financial point of view. While the practical side of the industry is illustrated here with case studies, the authors also take the time to build up an understanding of balance sheets and P&L accounts before explaining how common tasks like estimating or valuation work from this perspective. Readers of this book will not only learn how to carry out the tasks of a construction cost manager, quantity surveyor or estimator, they will also understand the financial logic behind them, and the motivations that drive senior management. This is an essential book for students of quantity surveying or construction management, and all ambitious practitioners.