This textbook is designed as a core text for finance courses that cover market investments, portfolio formation, and the management of investment portfolios. As such, the text seeks to convey insight and actual wisdom as to the nature of these activities. When combined with a commitment to thinking independently, the text offers the student a rigorous preparation for entry to the funds management industry. The text is presented in three parts. In Part A, the text introduces the fundamental techniques of investment analysis: a "bottom-up" and "top-down" analysis of the firm aimed at an evaluation of the underlying share as a "buy", "hold", or a "sell" recommendation. Part B offers the reader an intuitive grasp of the nature of investment growth, both across time and across assets. Part C introduces the reader to the technicalities of portfolio construction and portfolio management. The text concludes with an assessment of the funds management industry. The text builds in step-by-step stages with Illustrative Examples that consolidate the student's progress and understanding through each chapter. Each of parts A, B, and C (above) has sufficient material to justify a separate course. If the student has exposure to a more foundational course in finance, Parts A and B can be covered as a single course. If from other courses, the student is familiar with the essence of Parts A and B and with statistical concepts, the text can be covered as a single course. The text can therefore be presented readily at either an undergraduate or postgraduate level at a pace appropriate to the student's prior exposure to the concepts.

This volume features a selection of contributions presented at the 2019 Wroclaw Conference in Finance, covering a wide range of topics in finance and financial economics, e.g. financial markets; monetary policy; corporate, personal and public finance; and risk management and insurance. Reflecting the diversity and richness of research in the field, the papers discuss both fundamental and applied finance, and offer a detailed analysis of current financial-market problems, including specifics of the Polish and Central European markets. They also examine the results of advanced financial modeling. Accordingly, the proceedings offer a valuable resource for researchers at universities and policy institutions, as well as graduate students and practitioners in economics and finance at both private and government organizations.

This book is a compilation of the best papers presented at the APEF 2019 conference which was held on 25th and 26th July 2019 at the Grand Copthorne Waterfront in Singapore. With a great number of submissions, it presents the latest research findings in economics and finance and discusses relevant issues in today's world. The book is a useful resource for readers who want access to economics, finance and business research focusing on the Asia-Pacific region.

This book documents the distinctive experiences and challenges of Small and medium-sized enterprises (SMEs) in Asia. By assessing succession and innovation in SMEs as the two sides of a coin, this book explains how innovations are essential to SMEs in succession. With detailed case examples, the book provides generalized solutions for SMEs to answer the question of how to make succession and innovation simultaneously successful. The authors discuss the potential solutions to solve the challenges of SMEs on succession and innovation by considering the utilization of the capital market, the electronic commerce strategy, the international strategy, and angel investment to pursue portfolio entrepreneurship, and compare these Asia solutions to the experiences from Europe. The book is recommended for family business and SME owners, professionals serving these firms, and the consulting firms that work on continuity issues of SMEs in Asia.

A book which covers the key period in the history of actuarial science from the mid-17th century to the early 19th century. There are reprints of the most important treatises, pamphlets, tables and writings which trace the development of the actuarial industry.

A book which covers the key period in the history of actuarial science from the mid-17th century to the early 19th century. There are reprints of the most important treatises, pamphlets, tables and writings which trace the development of the actuarial industry.

A book which covers the key period in the history of actuarial science from the mid-17th century to the early 19th century. There are reprints of the most important treatises, pamphlets, tables and writings which trace the development of the actuarial industry.

A book which covers the key period in the history of actuarial science from the mid-17th century to the early 19th century. There are reprints of the most important treatises, pamphlets, tables and writings which trace the development of the actuarial industry.

A book which covers the key period in the history of actuarial science from the mid-17th century to the early 19th century. There are reprints of the most important treatises, pamphlets, tables and writings which trace the development of the actuarial industry.

A book which covers the key period in the history of actuarial science from the mid-17th century to the early 19th century. There are reprints of the most important treatises, pamphlets, tables and writings which trace the development of the actuarial industry.

A book which covers the key period in the history of actuarial science from the mid-17th century to the early 19th century. There are reprints of the most important treatises, pamphlets, tables and writings which trace the development of the actuarial industry.

A book which covers the key period in the history of actuarial science from the mid-17th century to the early 19th century. There are reprints of the most important treatises, pamphlets, tables and writings which trace the development of the actuarial industry.

This book presents a study of so-called indie video game developers that are widely regarded as the creative and innovative fringe of the video game industry. The video game industry is an exemplary entrepreneurial high growth industry that combines digital media, cinematographic representations and interactive gaming technologies, and uses global digital distribution channels to reach local gaming communities. The study examines a number of issues, concerns, challenges, and opportunities that indie developers are handling as part of their development work. The love of gaming and video games more specifically is the shared and unifying force of both so-called Triple-A developers and the indie developer community. Still, issues such as how to raise financial capital or otherwise fund the development work, or how to optimize the return on investment when video games are released on digital platforms are issues that indie developers need to cope with. The study is theoretically framed as a case of an innovation-led sector of the economy, yet being anchored in the Swedish welfare state model, wherein e.g., free tertiary education and social insurances and health case at low cost are provided and supportive of enterprising. This book will be valuable reading for academics working in the fields of knowledge management, innovation, and the creative economy.

"It has been said that in theory, theory translates into practice, but in practice it never does. This breakthrough book defies this conventional wisdom in a unique way. It is a must read for anyone interested in structuring derivatives products." — Dr Peter Carr, Principal, Banc of America Securities

"Harry Kat has done a masterful job explaining the world of exotic options and the role that these options play in building structured securities. Dr Kat conveys the essence of these products from the perspective of a very experienced financial engineer but in a fashion that the less experienced reader can easily follow and understand. In this, Dr Kat has shown himself to be a marvellous teacher. I'm confident that this book will prove to be one of the classics to be read by future generations of financial engineers." — John F. Marshall, Principal, Marshall, Tucker & Associates, and Founding Executive Director, International Association of Financial Engineers

"This is a refreshingly new and different book about putting together structured equity products. It is not a book about deriving formulas but a book about applying formulas. The emphasis on hedging costs and alternative ways of reducing those costs by modifying the structure will be appreciated both by those who actually manufacture and sell these products and those who buy them." — Don Chance, First Union Professor, Virginia Tech

"This book is about applications, about solving real business problems with derivatives.... Contrary to many other books in the field, the approach is managerial rather than abstractly mathematical, aimed at practitioners instead of applied mathematicians. Professor Kat's book contains all the mathematics required. However, the mathematical aspects play a purely supportive role, not the starring role. Bravo!"
— Anthony F. Herbst, University of Texas at El Paso, Founding Editor, The Journal of Financial Engineering

"It is certainly a unique book, much more useful that most new books on derivatives. In a nutshell, this book is very creatively done and a great resource for professionals."
— Mark Rubinstein, Paul Stephens Professor of Applied Investment Analysis, University of California at Berkeley

Apply C++ to programming problems in the financial industry using this hands-on book, updated for C++20. It explains those aspects of the language that are more frequently used in writing financial software, including the Standard Template Library (STL), templates, and various numerical libraries. Practical C++20 Financial Programming also describes many of the important problems in financial engineering that are part of the day-to-day work of financial programmers in large investment banks and hedge funds. The author has extensive experience in the New York City financial industry that is now distilled into this handy guide. Focus is on providing working solutions for common programming problems. Examples are plentiful and provide value in the form of ready-to-use solutions that you can immediately apply in your day-to-day work. You'll see examples of matrix manipulations, curve fitting, histogram generation, numerical integration, and differential equation analysis, and you'll learn how all these techniques can be applied to some of the most common areas of financial software development. These areas include performance price forecasting, optimizing investment portfolios, and more. The book style is quick and to-the-point, delivering a refreshing view of what one needs to master in order to thrive as a C++ programmer in the financial industry. What You Will Learn Cover aspects of C++ especially relevant to financial programming Write working solutions to commonly encountered problems in finance Design efficient, numerical classes for use in finance, as well as to use those classes provided by Boost and other libraries Who This Book Is For Those who are new to programming for financial applications using C++, but should have some previous experience with C++.

This textbook helps students truly understand how to apply the principles behind corporate finance in a real world context from both a firm and investor perspective. In its second edition, this text focuses on traditional theory applied to a holistic and realistic business case study, written as a novel set in current times so that all readers can relate. As such, this textbook offers readers both a quantitative and qualitative perspective on topics such as capital budgeting, time value of money, corporate risk, and capital structure. The sections are laid out to mirror the financial decision process, making it easier for readers to grasp the idea of the corporate financial life cycle. New topics such as socially responsible investing and private capital markets are also incorporated into this edition. Finally, PowerPoint slides, answer keys and data sets are available online for instructors.

The relationship between ownership structure and firm performance has been studied extensively in corporate finance and corporate governance literature. Nevertheless, the mediation (path) analysis to examine the issue can be adopted as a new approach to explain why and how ownership structure is related to firm performance and vice versa. This approach calls for full recognition of the roles of agency costs and corporate risk-taking as essential mediating variables in the bi-directional and mediated relationship between ownership structure and firm performance. Based on the agency theory, corporate risk management theory and accounting for the dynamic endogeneity in the ownership-performance relationship, this book develops two-mediator mediation models, including recursive and non-recursive mediation models, to investigate the ownership structure-firm performance relationship. It is demonstrated that agency costs and corporate risk-taking are the 'missing links' in the ownership structure-firm performance relationship. Hence, this book brings into attention the mediation and dynamic approach to this issue and enhances the knowledge of the mechanisms for improving firm's financial performance. This book will be of interest to corporate finance, management and economics researchers and policy makers. Post-graduate research students in corporate governance and corporate finance will also find this book beneficial to the application of econometrics into multi-dimensional and complex issues of the firm, including ownership structure, agency problems, corporate risk management and financial performance.

This book offers new insights and perspectives on the financial and banking sector in Europe with a special focus on Central and Southeastern European countries. Through quantitative and qualitative analysis of primary sources and datasets, the book examines both the financial development and performance of the real sector of the economy and the impact and involvement of the banking sector. The contributions offer new insights into current financial innovations and discuss best practices in innovative financial solutions. They also highlight new perspectives in finance and analyze characteristic problems in the real and banking sectors in various European countries. The insights and financial solutions presented in this book will be of interest to scholars of finance and financial economics as well as practitioners in the financial industry and policy makers.

This book explores the relationship between and the compatibility of lean management (LM) and value-based management (VBM) approaches at the systems level. It then develops a model to improve LM and VBM professional practice by fostering a shared understanding of the value creation process within a lean system, and in doing so helps to remove existing barriers. The results promote future fruitful alliances between a company's operational and financial communities, enhancing the benefits to the enterprise and its stakeholders. The book is of primary interest to LM and VBM professionals and researchers.

This book brings together research works, ideas, critical reviews and strategic proposals encompassing various ethical and corporate governance issues in workplaces and organizations around the globe. For the most part, organizations are managed by policies, guidelines and systems. Good ethics and solid corporate governance help to tie these three elements together so that an effective and successful organization is established. Alongside corporate governance, ethics play an integral role in ensuring the long term survival of businesses. Multidisciplinary in approach, this book provides a platform for scholars and researchers from various backgrounds and interdisciplinary expertise to showcase their research work, ideas, critical review and strategic proposals on the ethical aspects, governance and risk management issues in organizations. The book includes discussions of ethical issues in a variety of organizations around the globe including the non-profit and non-governmental sector and also provides readers with ideas, guidelines and strategic recommendations for handling such issues.

This book presents the best papers from the 1st International Conference on Mathematical Research for Blockchain Economy (MARBLE) 2019, held in Santorini, Greece. While most blockchain conferences and forums are dedicated to business applications, product development or Initial Coin Offering (ICO) launches, this conference focused on the mathematics behind blockchain to bridge the gap between practice and theory. Every year, thousands of blockchain projects are launched and circulated in the market, and there is a tremendous wealth of blockchain applications, from finance to healthcare, education, media, logistics and more. However, due to theoretical and technical barriers, most of these applications are impractical for use in a real-world business context. The papers in this book reveal the challenges and limitations, such as scalability, latency, privacy and security, and showcase solutions and developments to overcome them.

This book presents a theoretical and empirical framework to interpret the possible configurations of the integration between performance management and risk management systems as part of management control systems. The book provides an overview of the development paths of these three systems, outlining the evolution and the current development of these disciplines, highlighting emerging issues and providing some original considerations. The author uses both an inductive and deductive approach in shaping the proposed framework, and includes the perspective of practitioners and academics on the topic. Based on a multiple case study in listed companies and a survey administered to small and medium enterprises, this book provides readers with valuable insights to adapt the proposed framework in different business contexts.

This book is a simple and concise text on the subject of security analysis and portfolio management. It is targeted towards those who do not have prior background in finance, and hence the text veers away from rather complicated formulations and discussions. The course 'Security Analysis and Portfolio Management' is usually taught as an elective for students specialising in financial management, and the authors have an experience of teaching this course for more than two decades. The book contains real empirical evidence and examples in terms of returns, risk and price multiples from the Indian equity markets (over the past two decades) that are a result of the analysis undertaken by the authors themselves. This empirical evidence and analysis help the reader in understanding basic concepts through real data of the Indian stock market. To drive home concepts, each chapter has many illustrations and case-lets citing real-life examples and sections called 'points to ponder' to encourage independent thinking and critical examination. For practice, each chapter has many numericals, questions, and assignments

A detailed look at financial planning strategies surrounding professional corporations for doctors, dentists, lawyers, business owners and other Canadian professionals. If you're a doctor, a dentist, a lawyer, or a business owner--virtually any type of professional in Canada--you strongly need to consider how incorporating fits into your financial plan. A good financial planner should acknowledge they have absolutely no control of the markets. However, taxes are completely controllable, and having a corporation is a powerful tool that allows professionals to control their tax bill. Using a mix of personal observations, real-life examples, and strategy evaluations, this book guides the professional along their path to using their corporation in the most efficient way. Kickstart Your Corporation: The Incorporated Professional's Financial Planning Coach is your practical guide to controlling your tax bill and taking advantage of all that a Professional Corporation has to offer. Drawing upon decades of hands-on experience in wealth management, author Andrew Feindel provides clear and accurate advice on making the incorporation decision, setting up and investing inside your corporation, optimizing your salary and dividend compensation mix, valuing permanent insurance on your corporate balance sheet, using prudent leverage, weighing the pros and cons of active or passive investment management, using alternative strategies like a Capital Gains Strip, Individual Pension Plans and Retirement Compensation Arrangements, and much more. This must-have book: Provides Canadian professionals with an accurate and straightforward investment and financial planning guide to incorporation Covers the basics of incorporating for the professional and business owner, including a review of the process and the costs to incorporate, and the likely benefits Analyzes the best financial strategy for various situations Offers real-world advice on structuring compensation, risk management, borrowing to invest, and the role of trusts in professionals' financial plans Written by a senior vice president at an independent leading-edge wealth management firm Kickstart Your Corporation: The Incorporated Professional's Financial Planning Coach is essential reading for any professional who has incorporated and is looking to maximize benefits, and those wanting to incorporate for the first time with expert guidance.

A merger or acquisition is one of the most significant events in the life of a firm and the consequences thereof are multi-faceted: Directors' fiduciary duties, shareholders' rights, valuation methods, structuring, and financing of the deal, to cite a few. Moreover, it requires an army of savvy professionals (accountants and investment banks, etc.) throughout the process; those understanding the technicalities of M&A guarantees and preventing costly missteps. This book explains the steps, distilling the process of both the legal and financial aspects of M&A, for both students and practitioners.