"Applications of Management Science" is a blind refereed serial publication published on an annual basis. The objective of this research annual is to present state-of-the-art studies in the application of management science to the solution of significant managerial decision-making problems. It significantly aids the dissemination of actual applications of management science in both the public and private sectors. Volume 13 is directed toward the application of management science to financial management, specifically in portfolio analysis and in productivity management such as Data Envelopment Analysis (DEA). Arranged in two sections, the first comprises a collection of financial applications papers, while the second focuses on the use of DEA in such wide-ranging environments as airport operations, freight railroads, gynaecological departments, severe coastal storms, and performance evaluation and classification of universities and public schools. This volume will prove valuable to researchers and practitioners of management science and operations research, as well as being a vital companion to portfolio analysts and industrial and financial engineers alike.

"Marilyn Bancel has written a highly accessible, readable guide to a very complex process, which is no mean feat. Even if you have been through a capital campaign before and think you're ready-and especially if you're new to the capital campaign process-read it! Preparing Your Capital Campaign provides valuable insights and practical planning tools that will bolster your capacity to take on a campaign's challenge."
--Clara Miller, president, Nonprofit Finance Fund

In this hands-on workbook, fund raising expert Marilyn Bancel shows you how to prepare your organization to embark on a successful capital campaign, detailing each step that must be taken before the launch.

Preparing Your Capital Campaign--part of the Excellence in Fund Raising Workbook Series--breaks down the preparation stage into practical, manageable parts, outlining in straightforward language such essentials as creating a campaign timetable, setting up the campaign committee, determining a campaign goal, and getting the whole organization ready for a fund raising drive. Packed with useful resources, this nuts-and-bolts workbook includes a campaign skills checklist, strategies for estimating fund raising costs, a sample campaign budget, and a list of Web sites tailored to the specific needs of fund raisers.

If you are brand-new to fund raising, the book offers a concise introductory chapter that lays out the basics and answers the key questions about capital campaigns. More experienced fund raisers will benefit from a wealth of reminders for avoiding common mistakes and a framework for staying focused on the factors that are most important for success. Preparing Your Capital Campaign will show you how to make the most of this critical fund raising strategy.

The most complete guide to business valuation written by industry-leading valuation specialists! Handbook of Business Valuation Second Edition In this thoroughly revised and updated edition of the number-one guide to business valuation, nearly 50 experts provide expert advice and guidance on all facets of the subject. This is a single-source guide to valuation approaches and methods, in addition to all of the procedures necessary to accurately value a business. The Second Edition of the Handbook of Business Valuation enables you to find precisely the information you need; just go directly to the chapter concerning the topic you are interested in. There is no need to read the entire volume—it’s quick and easy. This is the only valuation book you need. It provides chapters on valuing specific businesses, such as: software companies, radio and cable stations, medical practices, home-based businesses, and many more, plus a special chapter on researching business valuation information on the Internet.

• An entire chapter on commonly used rules of thumb
• Business valuation from the perspective of the buyer, seller, lawyer, lender, and others
• All updated information, plus much that’s new
• Important sections on family limited partnerships, intellectual property issues, minority interests, and much more

The authoritative, practical guide to internal control after COSO (Committee on Sponsoring Organizations of the Treadway Commission)

Beyond COSO unravels the complexities of the COSO Report while providing clear-cut guidelines on how to implement the various internal controls it mandates. Just as important, it builds on the COSO framework to provide a more rigorous system that corporate executives and directors can use to transform the internal control function into a valuable strategic tool for leveraging corporate strengths and improving performance.

The first practical guide to complying with COSO Report mandates, Beyond COSO:

• Clearly explains the intricacies of the COSO Report
• Describes proven techniques for complying with COSO requirements
• Provides a detailed account of the internal control oversight process
• Offers expert recommendations on how to carry out internal control responsibilities more efficiently
• Supplies a wealth of ready-to-use internal control documentation

Beyond COSO is an invaluable working resource for internal and external auditors, CFOs, members of audit committees, and corporate directors.

www.wiley.com/accounting

Cost-benefit analysis is the only method of economic evaluation that can effectively indicate whether a health care treatment or intervention is worthwhile. In this thoroughly updated and revised second edition, Robert Brent expands the scope of the field by including the latest concepts and applications throughout all regions of the world. This book attempts to strengthen the link between cost-benefit analysis and the mainstream health care evaluation field, which is dominated by non-economists. The need to build a bridge between the two is more important than ever before, as the general understanding of cost-benefit analysis appears to have regressed.Case studies are used throughout to explain and illustrate the various methodologies being examined. In addition, the author now covers more of the statistical requirements that are necessary to understand and carry out health care evaluations, and follows an applied economics approach. Ultimately, he resolves a number of disputes and makes some new, but subtle, contributions by reinterpreting, correcting and extending existing work. The book covers the topic in an accessible manner, from the foundations to the frontiers of the field, and clearly explains all the necessary economic principles along the way. Cost-Benefit Analysis and Health Care Evaluations, Second Edition will be invaluable to students and researchers of health economics, public policy and health care policy, as well as policymakers and health care practitioners. It can also be used as a comprehensive introductory text by anyone with an interest in cost-benefit analysis. From this perspective, the new additional final chapter is particularly useful as it supplies a summary of CBA that highlights the main conclusions of the text in a single chapter. Contents: 1. Introduction to Health Care Evaluation 2. Cost Minimization and the Definition of 'Cost' 3. Types of Costs and their Measurement 4. External Costs 5. Social Cost of Taxation 6. Fundamentals of Cost-effectiveness Aanalysis 7. Further Issues of Cost-effectiveness Analysis 8. Fundamentals of Cost utility Analysis 9. Measuring Utilities in Cost utility Analysis 10. Cost-utility Analysis and Equity 11. Cost-benefit Analysis and the Human Capital Approach 12. Cost-benefit Analysis and Willingness to Pay 13. Cost-benefit Analysis and Equity 14. Methods for Measuring the Benefits of HIV/AIDS Interventions Index

This text covers the technical aspects of capital investment decision-making, including the selection of an appropriate discount rate, and also its human and behavioural characteristics. It is a book that will be of value to accounting and finance students, general business students, and also to those actively involved in the capital decision-making process at all levels.

The fast and easy way to grasp cash flow management

"Cash Flow For Dummies" offers small business owners, accountants, prospective entrepreneurs, and others responsible for cash management an informational manual to cash flow basics and proven success strategies. Cash Flow For Dummies is an essential guide to effective strategies that will make your business more appealing on the market. Loaded with valuable tips and techniques, it teaches individuals and companies the ins and outs of maximizing cash flow, the fundamentals of cash management, and how it affects the quality of a company's earnings.

Cash flow is the movement of cash into or out of a business, project, or financial product. It is usually measured during a specified, finite period of time, and can be used to measure rates of return, actual liquidity, real profits, and to evaluate the quality of investments. "Cash Flow For Dummies" gives you an understanding of the basic principles of cash management and its core principles to facilitate small business success.Covers how to read cash flow statementsIllustrates how cash balances are analyzed and monitored--including internal controls over cash receipts and disbursements, plus bank account reconciliation and activity analysisTips on how to avoid the pitfalls of granting credit--evaluating customer credit, sources of credit information, and overall credit policyAdvice on how to prevent fraud and wasteCovers cash-generating tactics when doing business with dot-coms, other start-ups, and bankrupt customers

"Cash Flow For Dummies" is an easy-to-understand guide that covers all of these essentials for success and more.

In the two years since the publication of The Handbook of Risk Management and Analysis interest and the practice of management, modelling and control of financial risks has grown enormously. The author/editor has produced two stand-alone or companion volumes. Only one third of the original material remains. Measuring and Modelling Financial Risk has been structured in four parts: the first three chapters survey standard approaches to measuring and modelling financial risk from the risk manager perspective, Chapters 4 and 5 are aimed primarily at quantitative risk analysts whose job it is to put the systems in place. Chapters 6 and 7 discuss important issues in IT and systems design, and the last two chapters cover pricing and risk management of credit-risky products. Leading figures in the field contribute: Michel Crouhy, Dan Galai and Robert Mark, Stan Beckers, Thomas Wilson, Mark Broadie and Paul Glasserman, Nigel Webb, Ron Dembo, Robert Jarrow and Stuart Turnbull, and Lee Wakeman.

"Risk management is becoming an increasingly important activity for financial institutions, fund managers, and corporate treasurers. It used to be the case that the brightest ‘quants’ were used to design and value ever-more-exotic derivatives. Now increasingly they are finding that their talents can best be put to work in risk management. In this volume Carol Alexander has gathered together nine articles concerned with different aspects of risk management and analysis. The topics covered include the regulatory framework, volatility and correlation models, value at risk, and credit risk. The book will provide a valuable source of reference material for both market participants and students." John Hull, August 1998

Essential tools and guidance for effective nonprofit financial management Financial Management for Nonprofit Organizations provides students, professionals, and board members with a comprehensive reference for the field. Identifying key objectives and exploring current practices, this book offers practical guidance on all major aspects of nonprofit financial management. As nonprofit organizations fall under ever-increasing scrutiny and accountability, this book provides the essential knowledge and tools professional need to maintain a strong financial management system while serving the organization's stated mission. Financial management, cash flow, and financial sustainability are perennial issues, and this book highlights the concepts, skills, and tools that help organizations address those issues. Clear guidance on analytics, reporting, investing, risk management, and more comprise a singular reference that nonprofit finance and accounting professionals and board members should keep within arm's reach. Updated to reflect the post-recession reality and outlook for nonprofits, this new edition includes new examples, expanded tax-exempt financing material, and recession analysis that informs strategy going forward. Articulate the proper primary financial objective, target liquidity, and how it ensures financial health and sustainability Understand nonprofit financial practices, processes, and objectives Manage your organization's resources in the context of its mission Delve into smart investing and risk management best practices Manage liquidity, reporting, cash and operating budgets, debt and other liabilities, IP, legal risk, internal controls and more Craft appropriate financial policies Although the U.S. economy has recovered, recovery has not addressed the systemic and perpetual funding challenges nonprofits face year after year. Despite positive indicators, many organizations remain hampered by pursuit of the wrong primary financial objective, insufficient funding and a lack of investment in long-term sustainability; in this climate, financial managers must stay up-to-date with the latest tools, practices, and regulations in order to serve their organization's interests. Financial Management for Nonprofit Organizations provides clear, in-depth reference and strategy for navigating the expanding financial management function.

Managerial decisions are considerably influenced by taxes: e.g. the choice of location, buying or leasing decisions, or the proper mix of debt and equity in the company's capital structure increasingly demand qualified employees in an economic environment that is becoming more and more complex. Due to the worldwide economic integration and constant changes in tax legislation, companies are faced with new challenges - and the need for information and advice is growing accordingly. This book's goal is to identify and quantify possible tax effects on companies' investment strategies and financing policies. It does not focus on details of tax law, but instead seeks to address students and practitioners focusing on corporate finance, accounting, investment banking and strategy consulting.

This book provides the most comprehensive treatment of the theoretical concepts and modelling techniques of quantitative risk management. Whether you are a financial risk analyst, actuary, regulator or student of quantitative finance, Quantitative Risk Management gives you the practical tools you need to solve real-world problems. Describing the latest advances in the field, Quantitative Risk Management covers the methods for market, credit and operational risk modelling. It places standard industry approaches on a more formal footing and explores key concepts such as loss distributions, risk measures and risk aggregation and allocation principles. The book's methodology draws on diverse quantitative disciplines, from mathematical finance and statistics to econometrics and actuarial mathematics. A primary theme throughout is the need to satisfactorily address extreme outcomes and the dependence of key risk drivers. Proven in the classroom, the book also covers advanced topics like credit derivatives. * Fully revised and expanded to reflect developments in the field since the financial crisis* Features shorter chapters to facilitate teaching and learning* Provides enhanced coverage of Solvency II and insurance risk management and extended treatment of credit risk, including counterparty credit risk and CDO pricing* Includes a new chapter on market risk and new material on risk measures and risk aggregation

"I am always pleased to discover a book written by a former practitioner which ensures that readers understand the theory of market instruments. Walmsley's practical knowledge of the markets, combined with an easy to understand writing style, makes this book ideal for practitioners wishing to brush up on both theory and their understanding of market practice." John L. Langton Chief Executive and Secretary General International Securities Market Association, Zurich
Over the past few years the foreign exchange markets have gone through dramatic changes which will affect the way in which international business is conducted. International Money and Foreign Exchange Markets is an accessible guide to the major money markets around the world, providing comprehensive coverage of day to day financial management and control issues. The author provides valuable, easy to understand information on all the latest trends and techniques of this decade including: ? chaos theory ? neural nets ? technical charting methods ? European Monetary System ? RiskMetrics (TM) Written by a well-known financial author and respected authority in international investing, trading and risk management, this text will be essential reading for students of finance, banking and business, as well as MBA students needing an introduction to financial markets.

Traditional research about Financial Stability and Sustainable Growth typically omits Earnings Management (as a broad class of misconduct), Complex Systems Theory, Mechanism Design Theory, Public Health, psychology issues, and the externalities and psychological effects of Fintech. Inequality, Environmental Pollution, Earnings Management opportunities, the varieties of complex Financial Instruments, Fintech, Regulatory Fragmentation, Regulatory Capture and real-financial sector-linkages are growing around the world, and these factors can have symbiotic relationships. Within Complex System theory framework, this book analyzes these foregoing issues, and introduces new behaviour theories, Enforcement Dichotomies, and critiques of models, regulations and theories in several dimensions. The issues analyzed can affect markets, and evolutions of systems, decision-making, "nternal Markets and risk-perception within government regulators, operating companies and investment entities, and thus they have Public Policy implications. The legal analysis uses applicable US case-law and statutes (which have been copied by many countries, and are similar to those of many common-law countries). Using Qualitative Reasoning, Capital Dynamics Theory (a new approach introduced in this book), Critical Theory and elements of Mechanism Design Theory, the book aims to enhance cross-disciplinary analysis of the above-mentioned issues; and to help researchers build better systems/Artificial-Intelligence/mathematical models in Financial Stability, Portfolio Management, Policy-Analysis, Asset Pricing, Contract Theory, Enforcement Theory and Fraud Detection. The primary audience for this book consists of university Professors, PHD students and PHD degree-holders (in industries, government agencies, financial services companies and research institutes). The book can be used as a primary or supplementary textbook for graduate courses in Regulation; Capital Markets; Law & Economics, International Political Economy and or Mechanism Design (Applied Math, Operations Research, Computer Science or Finance).

Eliminate your money anxiety and create lasting happiness with your financial situation - not by creating a blistering budget but by living the life you love! Ashley Feinstein Gerstley was working in financial services when she came to the shocking realization that even she was stressed about her personal finances. Ashley quickly realized that her stress didn't only arise from a lack of knowledge but from the way that we as a society treat and talk (or rather don't talk) about money, so she created a system to turn the entire practice on its head! The 30-Day Money Cleanse, named an Amazon Best Book of 2019 So Far, is a groundbreaking money management book that will set you on the path to financial peace with interactive journaling prompts to hold you accountable and keep you on track. Through Ashley's system, in just 30 days you will create a healthier, happier relationship with your money by: Eliminating all money stressors Finally knowing where your money is going Breaking those panic-inducing bad money habits Learning the basics of how and where to invest Making a plan that you can not only live with but enjoyWith its cheery and easy-to-follow guide, this is the perfect book on money management for young adults or those looking for an unintimidating guide to managing money. Readers who have tried the 30-Day Money Cleanse have, on average, saved over $950 through the course of the month! Are you ready for financial freedom? "[An] easy-to-follow guide to creating a healthy personal relationship with money."-Publishers Weekly

Proven guidance for expertly using analytics in fraud examinations, financial analysis, auditing and fraud prevention Fraud Analytics thoroughly reveals the elements of analysis that are used in today's fraud examinations, fraud investigations, and financial crime investigations. This valuable resource reviews the types of analysis that should be considered prior to beginning an investigation and explains how to optimally use data mining techniques to detect fraud. Packed with examples and sample cases illustrating pertinent concepts in practice, this book also explores the two major data analytics providers: ACL and IDEA. * Looks at elements of analysis used in today's fraud examinations * Reveals how to use data mining (fraud analytic) techniques to detect fraud * Examines ACL and IDEA as indispensable tools for fraud detection * Includes an abundance of sample cases and examples Written by Delena D Spann, Board of Regent (Emeritus) for the Association of Certified Fraud Examiners (ACFE), who currently serves as Advisory Board Member of the Association of Certified Fraud Examiners, Board Member of the Education Task Force of the Association of Certified Anti-Money Laundering Specialists ASIS International (Economic Crime Council) and Advisory Board Member of the Robert Morris University (School of Business), Fraud Analytics equips you with authoritative fraud analysis techniques you can put to use right away.

This new addition to the Wiley Financial Series is edited by a practitioner and teacher of the topic. It includes 35 cases on various aspects of international finance that can be used in any advanced course on the subject covering areas such as international financial markets; foreign exchange; foreign investment; international accounting and taxation; and financing international operations.

Over the past decade the financial and business environments have undergone significant changes. During the same period several advances have been made within the field of financial engineering, involving both the methodological tools as well as the application areas.

This comprehensive edited volume discusses the most recent advances within the field of financial engineering, focusing not only on the description of the existing areas in financial engineering research, but also on the new methodologies that have been developed for modeling and addressing financial engineering problems.

This book is divided into four major parts, each covering different aspects of financial engineering and modeling such as portfolio management and trading, risk management, applications of operation research methods, and credit rating models.

Handbook of Financial Engineering is intended for financial engineers, researchers, applied mathematicians, and graduate students interested in real-world applications to financial engineering.

Financial management practices are likely to have a marked effect on the financial performance of a corporate enterprise. Therefore, sound financial decisions/practices can contribute towards meeting the desired objective of having profitable operations. This subject assumes paramount significance in view of the present dynamic and turbulent business environment, which has produced more intense competition and smaller profit margins across the world. In this context, the financial management practices of the corporates in India, a country with a vast potential for economic growth, can offer valuable insights. The present study explores whether there has been a major change in the financial performance (measured in terms of profitability) and financial policies/decisions of the sample companies over a fixed period (2000-2001 to 2010-2011), with a special focus on pre and post-recession analysis. It delves deeper into current research areas such as zero working capital, real options in capital budgeting, pecking order in capital structures, and clause 49 as reflected in the financial management decisions of sample companies, and provides a broader perspective by identifying trends (if any) in certain aspects of financial decision-making over the past two decades. A comprehensive study, covering all the major aspects of financial management practices, also contains an inter-sectoral study (among the sample companies) and develops an index of professionalism in financial management based on the practices of the sample companies. The book is primarily targeted at teachers/students of finance, management, commerce, accounting and related professional disciplines/fields. Practitioners/professionals will find it an invaluable text that helps guide them to better decision-making.

This book examines rating agencies role in the recent financial crisis and proposed reforms. It summarizes the key causes that have led to the crisis, analyzes points of criticism and accusations leveled at rating agencies, and discusses proposals towards regulatory reform. The author takes rating agencies position regarding these accusations and proposals into account. In contrast to other studies focusing only on US and EU regulatory issues, this study also considers whether responses from other countries could deliver a feasible path in adopting new regulations. The author examines in a cross-country qualitative manner stakeholder perceptions with respect to rating agencies. Based on empirical findings the study discusses how perceived or revealed shortcomings can be solved.

Grantwriters often have little or no training in the practical task of grantseeking. Many feel intimidated by the act of writing, and some don't enjoy writing. In Storytelling for Grantseekers, Second Edition, Cheryl Clarke presents an organic approach to grantseeking, one that views the process through the lens of the pleasures and rewards of crafting a good story. Grantseekers who approach the process as one in which they are connecting with an audience (grantmakers) and writing a narrative (complete with settings, characters, antagonists and resolutions) find greater success with funders. The writing process becomes a rewarding way to tell the organization's tale, rather than a chore, and their passion and creativity lead to winning proposals.
This book walks readers through all the main phases of the proposal, highlighting the creative elements that link components to each other and unify the entire proposal. The book contains resources on crafting an effective synopsis, overcoming grantwriter's block, packaging the story, and the best ways to approach the "short stories" (inquiry and cover letters) that support the larger proposal.
Clarke also stresses the need to see proposal-writing as part of a larger grantseeking effort, one that emphasizes preparation, working with the entire development staff, and maintaining good relations with funders. In Storytelling for Grantseekers, new and experienced grantseekers alike will discover how to write and support successful proposals with humor and passion.
New edition features:
* Overall updates as well as both refreshed and new examples
* Workshop exercises for using the storytelling approach
* New chapters onthe application of the storytelling method to other fundraising communications like appeal letters and case statements, as well as the importance of site visits
* Example of a full narrative proposal

This book focuses on the concepts and applications of risk-based asset allocation. Markowitz's traditional approach to asset allocation suffers from serious drawbacks when implemented. These mainly arise from the estimation risk associated with the necessary input the most critical being expected returns. With the financial crisis, there has been an increasing interest in asset allocation approaches that don't need expected returns as input, known as risk-based approaches. The book provides an analysis of the different solutions that fit this description: the equal-weighting approach, the global minimum-variance approach, the most diversified portfolio approach and the risk parity approach. In addition to a theoretical discussion of these, it presents practical applications in different investment environments. Three different evaluation dimensions are considered to put these approaches to the test: financial efficiency, diversification and portfolio stability.

In this book, the relationship between financial decision-making and chronic regulatory focus is explored to provide a better understanding of consumer decisions. Financial decisions are modelled on the basis of assets and portfolios sensitive to particular regulatory foci. Studies in the book test whether participants select assets/portfolios that conform to their respective foci. In addition, given that gender, age and education can shape financial decisions, further hypotheses are put forth to explore whether these are related to asset and portfolio selection and regulatory focus. As consumers tend to make financial decisions prior to priming, this book diverts from previous research involving primed states of regulatory focus and instead explores the chronic state. The study employs two complementary instruments, the eye tracker and self-report, to explicate the hypotheses. As the main hypotheses were not supported, the author posits that the harsh worldwide financial climate may have acted as an external influence, moving participants to select assets and portfolios not aligned with their foci. This study marks a valuable contribution to the current literature concerning financial decision-making, the underlying motivational systems and external influences, and will promote further research in these areas. It offers an essential resource for academics and students interested in how regulatory focus interacts with financial decisions and the overarching economic climate.