The world has moved on in the advanced economies where credit based financial systems coupled with malleable accounting systems disconnect capitalization and wealth accumulation from GDP trajectories and financial surplus. This, the book argues, is the product of economic, financial and cultural imperatives that privilege and encourage financial leverage for wealth accumulation.

This text re-works business models for a financialized world and presents a distinctive insight into the way in which national, corporate and focal firm business models have adapted and evolved. It also shows how, in the current financial crisis, financial disturbances can be amplified, transmitted and made porous, by accounting systems, threatening economic stability. By making visible the tensions and contradictions embedded in this process of economic development, the authors have constructed a loose business model conceptual framework that is also grounded in accounting.

This is a valuable resource for practitioners, academics and policy makers with an interest in management, accounting and economic policy.

This dissertation comprises five studies analyzing daily stock returns of listed firms. Studies one and two shed light on corporate diversification through M&A and how related risk dynamics affect shareholder wealth. Carrying over the risk analysis methodology 'GARCH' to external events in studies three and four, the author individually scrutinizes the adverse implications of bank failures and bailouts in the 2007-2009 financial crisis. Finding opposing return shocks, he identifies the limits of the 'symmetric' GARCH. As observed of the behavior of stock return data, volatility reacts asymmetrically to positive and negative return shocks. The advanced EGARCH incorporates this so called 'leverage effect'. Applying the EGARCH in his final study, the author can simultaneously scrutinize the adverse bank events with an appropriate econometric foundation.

This book examines women's financial activity from the early days of the stock market in eighteenth century England and the South Sea Bubble to the mid-twentieth century. The essays demonstrate how many women managed their own finances despite legal and social restrictions and show that women were neither helpless, incompetent and risk-averse, nor were they unduly cautious and conservative. Rather, many women learnt about money and made themselves effective and engaged managers of the funds at their disposal. The essays focus on Britain, from eighteenth-century London, to the expansion of British financial markets of the nineteenth century, with comparative essays dealing with the US, Italy, Sweden and Japan. Hitherto, writing about women and money has been restricted to their management of household finances or their activities as small business women. This book examines the clear evidence of women's active engagement in financial matters, much neglected in historical literature, especially women's management of capital. .

Arms investors with powerful new tools for measuring and managing the risks associated with the various illiquid asset classes With risk-free interest rates and risk premiums at record lows, many investors are turning to illiquid assets, such as real estate, private equity, infrastructure and timber, in search of superior returns and greater portfolio diversity. But as many analysts, investors and wealth managers are discovering, such investments bring with them a unique set of risks that cannot be measured by standard asset allocation models. Written by a dream team of globally renowned experts in the field, this book provides a clear, accessible overview of illiquid fund investments, focusing on what the main risks of these asset classes are and how to measure those risks in today's regulatory environment. * Provides solutions for institutional investors in need of guidance in today's regulatory environment * Offers detailed descriptions of risk measurement in illiquid asset classes, illustrated with real life case studies * Helps you to develop reliable risk management tools while complying with the regulations designed to contain the individual and systemic risks arising from illiquid investments * Features real-life case studies that capture an array of risk management scenarios you are likely to encounter

David Samuels, a leading authority on financial models in healthcare, draws on his multidisciplinary background in all aspects of managed care to provide an expansive yet detailed perspective of this complex field. Grounded in evidence-based modeling, the book's multidisciplinary focus puts the spotlight on core concepts from the standpoints of health plans, hospitals, physician practice, and their respective integrated network models. You'll learn what happened when a country's national health care plan is developed with problematic underwriting, why hospitals will always be victimized at their payer's bargaining table, and even how to improve the current primary care shortage at both 50% less provider costs as well as with triple their members' compliance in wellness care. The book gives you the critical tools to stay ahead of the learning curve, engage patients to take responsibility for their own and their family's health status, and improve your differentiation in a RAPIDLY changing marketplace.

Fair value accounting is viewed as a major feature of IFRS and several standards either require assets to be measured at fair value or at least provide an option to fair value measurement instead of applying historical cost. While it is argued that fair values provide more timely and relevant information, the global financial crisis led to a considerable debate about the usefulness of fair value accounting. The study examines the implications of fair value accounting for financial analysts and nonprofessional investors. It provides evidence that, even if financial analysts find it challenging to produce accurate forecasts under a fair value regime, nonprofessional investors make larger investments and are more confident with their judgments for fair value firms.

Cost-benefit analysis (CBA) is the systematic and analytical process of comparing benefits and costs in evaluating the desirability of a project or programme, often of a social nature and for society as a whole. CBA is fundamental to government decision-making and can be an effective tool for informed decisions on the use of society's scarce resources. This book highlights the main concepts and principles of cost-benefit analysis used in real life cases and actual applications. The book contains rich cases, materials and examples of real life CBA applications with emphasis both on physical and non-physical projects and infrastructure developments in Asia and beyond. The book also discusses techniques frequently used in applied CBA.

The first part of the book introduces the key concepts and principles of CBA before Part Two covers some pertinent issues relating to CBA, such as the recent trend of using behavioural economics and frequently used techniques in applied CBA. Finally, in Part Three, case studies are written up to illustrate how CBA is done, and questions for the readers and students to ponder are raised at the end of each chapter.

The scope of the case studies is more than just physical infrastructures but will include public sector policies and programmes covering a host of social policies as in health, education, social welfare programmes, and the environment. For each case, there will be illustrations of the key concepts and principles of CBA used. Undertakings analyzed include:

• the Three Gorges Dam in China
• the 2008 Beijing Olympics
• the Costs of Global Warming
• the Jamuna Bridge in Bangladesh

The case studies, many of which have taken or are to take place in developing countries provide a rich background to the principles of the method, and are accompanied by a wealth of explanatory material. As well as being suitable for courses in Cost-Benefit Analysis, Public Finance, Environmental and Health Economics, the book should be of interest to all public policy decision makers and planners.

Strong financial management skills are essential to promote high program standards in international development organizations. Many non-finance people find numbers and financial techniques difficult, and some just give up or expect someone else to handle them. However, NGO managers and other staff are responsible for sound financial management and without full understanding their programs will be, at best, less effective, and, at worst, vulnerable to going unfunded.To help avoid these problems, many development agencies provide financial training for their non-finance staff, and also their partners. But just providing more skills training does not address all the issues. Poor communication about financial information, by both finance and non-finance people, often seems to cause a block. This book helps people speak and write better financial information, avoiding jargon, and preventing their listeners from switching off. It explains why messages about finance may not be received as they were intended when working cross-culturally and outlines how information can be tailored to different audiences. It outlines how to design training sessions that improve understanding and collaboration between finance and non-finance people, including partner organizations, trustees, and staff."Communicating Financial Management to Non- Finance People" should be read by non-finance and finance managers and staff within nonprofit organizations internationally, as well as other organizations.

This book addresses the lack of academic and practical research into corporate venturing by examining the role of this activity as both a form of large firm-small firm collaboration and as an alternative source of equity finance for small firms. These issues are explored through surveys of independent fund managers, coporate executives and technology-based firm directors.

Cost-benefit analysis (CBA) is the systematic and analytical process of comparing benefits and costs in evaluating the desirability of a project or programme, often of a social nature and for society as a whole. CBA is fundamental to government decision-making and can be an effective tool for informed decisions on the use of society's scarce resources. This book highlights the main concepts and principles of cost-benefit analysis used in real life cases and actual applications. The book contains rich cases, materials and examples of real life CBA applications with emphasis both on physical and non-physical projects and infrastructure developments in Asia and beyond. The book also discusses techniques frequently used in applied CBA.

The first part of the book introduces the key concepts and principles of CBA before Part Two covers some pertinent issues relating to CBA, such as the recent trend of using behavioural economics and frequently used techniques in applied CBA. Finally, in Part Three, case studies are written up to illustrate how CBA is done, and questions for the readers and students to ponder are raised at the end of each chapter.

The scope of the case studies is more than just physical infrastructures but will include public sector policies and programmes covering a host of social policies as in health, education, social welfare programmes, and the environment. For each case, there will be illustrations of the key concepts and principles of CBA used. Undertakings analyzed include:

• the Three Gorges Dam in China
• the 2008 Beijing Olympics
• the Costs of Global Warming
• the Jamuna Bridge in Bangladesh

The case studies, many of which have taken or are to take place in developing countries provide a rich background to the principles of the method, and are accompanied by a wealth of explanatory material. As well as being suitable for courses in Cost-Benefit Analysis, Public Finance, Environmental and Health Economics, the book should be of interest to all public policy decision makers and planners.

The European regulation of financial reporting has substantially changed. Both the contents of accounting standards and the regulatory framework governing the setting of these standards are novel. In particular, the transfer of legislative competencies to a privately organized body, the International Accounting Standards Board, is a major deviation from formerly established national practice. This study explores the way of private-public governance from a political perspective. Building on models of democracy, the book develops a procedural account of legitimate authority and subsequently evaluates the new governance regime.

Find out what your early stage business is really worth--and what you can do to increase its value even more

One of the most misconstrued concepts in business today, valuation has also rapidly become one of the most important for business owners in today's unpredictable financial atmosphere.

An experiential and practical guide drawn from author and valuation expert Neil Beaton's fifteen years of focused start-up work, "Valuing" "Early Stage and Venture-Backed Companies" equips you with a solid foundation of the ins and outs of early stage and venture-backed valuations--no matter what your field.

This step-by-step guide offers contributions from top valuation practitioners, walking you through:

New techniques for applying options methods

The pros and cons of the option pricing model

Early stage preferred stock rights

Applicable discounts for early stage companies

New procedures for implementing the probability-weighted expected returns method

Valuation theory, the consensus view on application, and the tools to apply them

The popular and widely used AICPA Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation

"Valuing Early Stage and Venture-Backed Companies" replaces bewildering computations with technical expertise to help you figure out what your business is really worth, and how you can increase that value starting today.

This book investigates how businesses can adapt their executive and fiscal practices to adopt an ethical, equal-opportunity approach. The authors demonstrate how corporations can create sustainable work environments that embrace feminist care ethics and ground their research in a strong theoretical discussion of this relatively new framework. The discussion has a multidisciplinary outlook and explores how the concept of care ethics might be successfully applied to various professional contexts. Later chapters present findings from an empirical case study conducted in Australia and use both qualitative and quantitative methods to analyse the potential power of a feminist care of ethics approach within commercial and corporate management.

The current period of market and governmental turbulence is the most challenging--yet rewarding--time to be a treasurer. Now, as perhaps never before, the treasurer's visions, skills, and worth will be tested and proven. A useful reference, "The Strategic Treasurer: A Partnership for Corporate Growth" systematically equips today's corporate treasurers to move from merely being the liquidity manager to becoming a strategic driver and steward of corporate value as well as an equal partner with senior management.

The objective of this textbook is to introduce students to basic principles of international corporate finance. This book stresses practical applications in a user-friendly format. It is suitable for both undergraduate and graduate level courses in international finance, and can be used in any part of the world as it does take a nationalistic viewpoint. This self-contained book and combines theory and applications. Students will be exposed to key tools and techniques of global corporate finance without a complex treatment of theoretical financial concepts.

Financial Management in Agriculture, Seventh Edition, introduces students to modern concepts and tools of finance, developed and applied to the agricultural sector. Using case studies, practical problems, and a lucid presentation, the text focuses on planning, analyzing, and controlling business performance in agriculture and related financial markets. This new edition addresses recent structural changes in the food system, covering important topics such as the growth in vertical coordination within the food and fiber system, and the significant implications for financial analysis and risk management by those managing or financing the agricultural sector.

A new book to help senior executives and boards get smart about risk management The ability of businesses to survive and thrive often requires unconventional thinking and calculated risk taking. The key is to make the right decisions-even under the most risky, uncertain, and turbulent conditions. In the new book, Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise, authors Rick Funston and Steve Wagner suggest that effective risk taking is needed in order to innovate, stay competitive, and drive value creation. Based on their combined decades of experience as practitioners, consultants, and advisors to numerous business professionals throughout the world, Funston and Wagner discuss the adoption of 10 essential and practical skills, which will improve agility, resilience, and realize benefits: Challenging basic business assumptions can help identify "Black Swans" and provide first-mover advantage Defining the corporate risk appetite and risk tolerances can help reduce the risk of ruin. Anticipating potential causes of failure can improve chances of survival and success through improved preparedness. Factoring in velocity and momentum can improve speed of response and recovery. Verifying sources and the reliability of information can improve insights for decision making and thus decision quality. Taking a longer-term perspective can aid in identifying the potential unintended consequences of short-term decisions.

In recent years, real estate investment has witnessed an unprecedented internationalisation. However, national markets largely continue to be shaped by domestic law and local business practices. This book provides a comparison of the British and German property markets, which are Europe's most important, and discusses key elements of the economics of leasing. Applying the theory of long-term contracts and the economic analysis of bankruptcy law to leases, it examines in detail the regulations pertaining to rent adjustment and tenant default, which can substantially impact investment performance. The prevailing rent adjustment mechanisms such as rent review and indexation are discussed. A comparison is made of the remedies available to landlords of defaulting tenants under both jurisdictions.

An essential guide to business valuation and bankruptcy

"Business Valuation and Bankruptcy" helps you-whether you are an accountant dealing with a troubled company, a lender, an investor, a bankruptcy and restructuring lawyer/financial advisor, or a private equity player-to focus on solving everyday and case determinative disputes when creditors, lenders, and debtors have differing views of value.

Introducing valuation issues early on in the restructuring/bankruptcy process so you can plan accordingly, this book offers
Many real life case examples, case descriptions, and tables to demonstrate the applicable sections of the Bankruptcy LawsA review of the methods, applications, pros and cons of restructuring with the basic tools to understanding itA description of the life cycle of a troubled company and the various stages of a restructuringAn analysis of the valuation issues that confront practitioners in the real world of application of the law

"Business Valuation and Bankruptcy" is written in terms that are common to bankruptcy professionals and is essential, timely reading for players in the bankruptcy and restructuring environment.

The economic climate, new regulations and developments both here and abroad have totally changed the face of today's mergers and acquisitions. Completely rewritten and updated, it examines realistic strategies and goals for the 1990s that must be addressed in order to achieve a successful acquisition program. Includes coverage of the post-acquisition process, chapters on restructuring financially troubled companies, and unique strategies that apply to niche acquisitions. It also features new material on international mergers, the pros and cons of partial buy-ins, cross-border alliances, financing options and covers issues (strategic, legal, financial and regulatory) that can affect a deal of any size.

This book consists of 11 papers based on research presented at the KIER-TMU International Workshop on Financial Engineering, held in Tokyo in 2009. The Workshop, organised by Kyoto University's Institute of Economic Research (KIER) and Tokyo Metropolitan University (TMU), is the successor to the Daiwa International Workshop on Financial Engineering held from 2004 to 2008 by Professor Kijima (the Chair of this Workshop) and his colleagues. Academic researchers and industry practitioners alike have presented the latest research on financial engineering at this international venue.These papers address state-of-the-art techniques in financial engineering, and have undergone a rigorous selection process to make this book a high-quality one. This volume will be of interest to academics, practitioners, and graduate students in the field of quantitative finance and financial engineering.

A practical, accessible introduction to the evolving electric power industry

As the industry environment transforms from a completely regulated setting to a broader, deregulated marketplace, new market participants must understand planning and operations of power systems to effectively participate in markets. This industry overview provides a description of utility operations and traditional planning, and then explains asset management, investment analysis, and risk management within the context of a market environment. Written to provide a broad, working knowledge of the industry, Electric Power Planning for Regulated and Deregulated Markets:

Includes descriptions of generation and transmission network equipment

Provides an overview of the regulatory framework, system design, and systems operations for ensuring reliable delivery of power

Presents system planning across different time horizons with the objective of minimizing power production costs

Explains the principles and architecture of a market environment, coupling operational imperatives with financial transactions

Addresses approaches of various participants, including power producers, retailers, and integrated energy companies toward bidding in day ahead markets, managing risks in forward markets, portfolio development, and investment analysis

Provides numerous examples addressing cost minimization, price forecasting, contract valuation, portfolio risk measurement, and other challenges

Examines past news events and explains what went wrong at Three Mile Island, the Northeast blackout of 2003, and the California energy crisis

This is an ideal reference for professionals in the public and privatepower service sectors, including engineers, lawyers, systems specialists, economists, financial analysts, policy analysts, and applied mathematicians.

This book examines women's financial activity from the early days of the stock market in eighteenth century England and the South Sea Bubble to the mid-twentieth century. The essays demonstrate how many women managed their own finances despite legal and social restrictions and show that women were neither helpless, incompetent and risk-averse, nor were they unduly cautious and conservative. Rather, many women learnt about money and made themselves effective and engaged managers of the funds at their disposal. The essays focus on Britain, from eighteenth-century London, to the expansion of British financial markets of the nineteenth century, with comparative essays dealing with the US, Italy, Sweden and Japan. Hitherto, writing about women and money has been restricted to their management of household finances or their activities as small business women. This book examines the clear evidence of women's active engagement in financial matters, much neglected in historical literature, especially women's management of capital. .

Essential guidance on the revised COSO internal controls framework

Need the latest on the new, revised COSO internal controls framework? "Executive's Guide to COSO Internal Controls" provides a step-by-step plan for installing and implementing effective internal controls with an emphasis on building improved IT as well as other internal controls and integrating better risk management processes. The COSO internal controls framework forms the basis for establishing Sarbanes-Oxley compliance and internal controls specialist Robert Moeller looks at topics including the importance of effective systems on internal controls in today's enterprises, the new COSO framework for effective enterprise internal controls, and what has changed since the 1990s internal controls framework.Written by Robert Moeller, an authority in internal controls and IT governancePractical, no-nonsense coverage of all three dimensions of the new COSO frameworkHelps you change systems and processes when implementing the new COSO internal controls frameworkIncludes information on how ISO internal control and risk management standards as well as COBIT can be used with COSO internal controlsOther titles by Robert Moeller: "IT Audit, Control, and Security, Executives Guide to IT Governance"

Under the Sarbanes-Oxley Act, every corporation has to assert that their internal controls are adequate and public accounting firms certifying those internal controls are attesting to the adequacy of those same internal controls, based on the COSO internal controls framework. "Executive's Guide to COSO Internal Controls" thoroughly considers improved risk management processes as part of the new COSO framework; the importance of IT systems and processes; and risk management techniques.

"Major gifts are at the heart of any coordinated, successful fundraising effort. Julie Walker shows you how to do it all-- find the prospects, staff the program, and ask for the money. The sidebar stories and real-world examples sprinkled throughout the book are entertaining, yet still make a point. I would buy it for the advice and keep it for the anecdotes."
--Duris Holmes, Chairman of the Board Benjamin Franklin High School New Orleans, Louisiana

Part of the AFP/Wiley Fund Development Series, Nonprofit Essentials: Major Gifts is a professional guide to major gift fundraising, concisely presented in a format that is accessible, lively, and easy-to-read. With in-depth advice from experienced fundraiser Julia Walker, this book takes the reader from the early stages of establishing a program through the core elements of all major gift programs: identifying and rating prospects; preparing the case; training volunteers; cultivating donors; making the ask; and providing recognition and stewardship for the gift. Its nuts-and-bolts presentation focuses on how to create a prospect-centered program that develops the capacity to engage and solicit donors, effectively based on their unique interests and needs.