Information is the oxygen supply of the financial markets. Financial information, or data, is so important that companies such as Barclays and Citigroup now have executive positions of Chief Data Officer or Head of Data Acquisition. This book, by a long-time industry insider at one of the leading data management vendors, discusses the present and future of financial data management by focusing on the lifecycle of the financial instruments (stocks, bonds, options, derivatives) that generate and require data to keep the markets moving. This book is a concise reference manual of the financial information supply chain and how to maximize effectiveness and minimize cost.
*First book fully dedicated to financial information supply chain and how to manage it effectively
*Addresses hot topics that readers need to know: regulatory reporting regulations, data pooling, hubs, and data exchanges
*Draws from actual lessons learned and presents many real-life scenarios of the business

The Law of Corporate Finance discusses, from a company law perspective, the provisions of the Companies Act 71 of 2008 relating to the field of shares, securities, and corporate finance. There have, thus far, been few major decisions of the courts providing guidance on this technical branch of company law. The Law of Corporate Finance unpacks the complexity of this field of law, while also examining the Companies Regulations and the common law principles preserved by the Companies Act. It offers a lucid and comprehensive treatment of this notoriously difficult subject. The Law of Corporate Finance is written to provide guidance to a wide range of persons seeking a proper grasp of both the principles of corporate finance as well as their practical application - from the judiciary, legal practitioners and legal advisors to auditors and accountants, from company directors and company secretaries to academics and students, whether undergraduate or postgraduate. The major company law topics in the field of corporate finance are discussed and analysed in this book. A highlight of The Law of Corporate Finance is that it includes a discussion of the legal remedies available to investors when the rules relating to corporate finance have been flouted. A further highlight is the practical examples that illustrate how corporate finance rules work and their shortcomings in specific situations. Due to the rapid globalisation of corporate law, a treatment of the legal position in leading foreign jurisdictions has been included, particularly those that have moulded the provisions of the South African Companies Act. These include English law, US law, Australian, Canadian and New Zealand law. This unique perspective provides an invaluable insight into the interpretation and application of the corporate finance provisions of the South African Act. Anyone seeking to understand the complex corporate finance rules will find this book to be useful and illuminating.

Risk model validation is an emerging and important area of research, and has arisen because of Basel I and II. These regulatory initiatives require trading institutions and lending institutions to compute their reserve capital in a highly analytic way, based on the use of internal risk models. It is part of the regulatory structure that these risk models be validated both internally and externally, and there is a great shortage of information as to best practise. Editors Christodoulakis and Satchell collect papers that are beginning to appear by regulators, consultants, and academics, to provide the first collection that focuses on the quantitative side of model validation. The book covers the three main areas of risk: Credit Risk and Market and Operational Risk.
*Risk model validation is a requirement of Basel I and II
*The first collection of papers in this new and developing area of research
*International authors cover model validation in credit, market, and operational risk

Volume one of the "Handbooks of Management Accounting Research" sets the context for both Handbooks, with three chapters outlining the historical development of management accounting as a discipline and as a practice in three broad geographic settings. The bulk of the first volume then draws together a series of contributions that analyse the scholarly literature in terms of distinct intellectual and theoretical social science perspectives. The volume includes a chapter which looks at work informed by psychology as a base discipline. The volume also includes a set of chapters that seek to evaluate and explain issues of research method for the different approaches to research found within management accounting.
Special pricing available if purchased as a set with Volume 2.
*Documents the scholarly management accounting literature
*Publishing both in print, and online through Science Direct
*International in scope

In this book, Pascal Costantini gives a lively and wonderfully readable account of ten years of efforts by a small group of investment analysts to find a reliable, practical and implementable method for valuing and selecting shares. The result of their effort is an original investment methodology called CROCI (Cash Return on Capital Invested), best described as a variation of the economic profit model. For over a decade now, Costantinis group at Deutsche Bank has been using this valuation tool every time it has had to take a view on the pricing of an equity asset, be it a market, a sector or an individual sharein other words, every single working day, since it is this groups job to advise institutional investors on equity valuation. Costantini describes in detail, accompanied by concrete examples in the form of charts and graphs, the precise investment results of the actual implementation of the CROCI approach in the global equity markets since 1996. Readers will enjoy taking this journey with Costantini to see how and why the model was developed, assess the results of ten years of actual implementation and measure the successes of using this model in stock picking and portfolio construction. This book will also make it easy for them to see how the CROCI approach can be used successfully by others now and in the future.
The book is divided into four parts. The first part is a review and discussion of the fundamentals of investment analysis. The second part is dedicated to the construction of economic data, with the sole objective of calculating an economically meaningful asset multiple and relative return, the combination of which gives an economic PE ratio, the authors main stock selection tool. While the economic profit model is not exactly new, it is still largely ignored by the investment community. In essence, it does three things: it calculates the real amount of cash, or value created by a business; it compares the market value of an asset to an approximation of its replacement value; and it assumes that the former will converge to the latter through the arbitrage of investors and capital providers. The third part is dedicated to the analysis of economic data, and the last part deals with the actual implementation of the CROCI economic profit model, including real life examples. This final part also discusses how to use the output of the CROCI model with individual stocks, and then with investment portfolios.
*Techniques are based on the authors performance record at Deutsche Bank since 1996
*Based on almost ten years of proprietary knowledge and implementation of these techniques
*Factual illustrations of the results of the valuation techniques are provided at each step
*Techniques are based on the author's performance record at Deutsche Bank since 1996
*Based on almost ten years of proprietary knowledge and implementation of these techniques
*Factual illustrations of the results of the valuation techniques are provided at each step

The ever-evolving nature of accountant and emphasis on professional accountability means that all busness professionals need to ensure they are up-to-date with the latest developments.
This latest revision of CIMA's Official Terminology addresses this need defining relevant terms used in today's business environment.
Official Terminology clarifies the language of business to CIMA memebers and other professional accountants and is a useful glossary for CIMA students.
It provides insight into current business techniques and practices for academic researchers.
All the revisions in this extensively updated edition are based on the experiences of real management accountants, guaranteeing that each term accurately reflects what is happening in today's business world

The pace of development in financial reporting has accelerated sharply during the last few years and shows no sign of abating as the UK prepares to comply with International Accounting Standards.
This text gives accounting professionals an understanding of UK accounting standards and demonstrate how they are used in practice. It is the perfect companion for those who need to keep abreast of changes to accounting standards or who need to see how the standards are applied in practice.
Accounting Standards includes:
* Summaries outlining the principles behind UK accounting standards
* Examples and extracts from well-known recent company accounts
* Keep up to date with changes to UK accounting standards
* Includes practical examples to illustrate how accounting standards work in practice

Credit Risk Management will enable general bankers, staff, and credit analyst trainees to understand the basic information and principles underlying credit risk evaluation, and to use those underlying principles to undertake an analysis of non financial and financial risks when preparing a credit proposal. Since the best loans are the ones that do not present problems during the repayment phase, the authors also focus on elements relating to the proactive management of those loans during their inception.

This book introduces:
*Credit analysis, approval and management processes
*Concepts of financial and non-financial risk
*Financial statement analysis, including the use of ratio anaylsis
*Cash flow analysis and forecasting
*Security enhancement & management procedures designed to legally & financially manage credit risk
*Inspired by the basic entry level training courses that have been developed by major international banks worldwide.
*Will enable students and those already in the finance profession to gain an understanding of the basic information and principles of credit risk
*Questions with answers, study topics, practical "real world" examples and text with an extensive bibliography

This book is a detailed account of the instruments that are used in the corporate bond markets, from conventional "plain vanilla" bonds to hybrid instruments and structured products. There is background information on bond pricing and yield, as well as a detailed look at the yield curve. The book covers the full set of instruments used by companies to raise finance, and which are aimed at a wide range of investors. It also discusses the analysis of these instruments. Topics covered include:
*Bond basics
*The yield curve
*Callable bonds
*Convertible bonds
*Eurobonds
*Warrants
*Commercial paper
*Corporate bonds credit analysis
*Securitisation
*Asset-backed securities
*Mortgage-backed securities
*Collateralised Debt Obligations
*Synthetic CDOs
Written by one of the leading names in the fixed income markets today, this book should prove to be an invaluable reference guide for all those with an interest in corporate bond markets, whether as practitioners, consultants or researchers.
* Covers every major aspect of corporate credit markets
* Features bond instruments as well as aspects of bond analysis
* Covers conventional bonds as well as securitisation and structured financial products

Introduction to International Trade Finance covers the complete cycle of international trade and explains the roles of the specialist operators.

Introduction to International Trade Finance aims to:
*Guide the reader through every phase of typical trade transactions, examining in detail the relationships between the various parties involved and explaining the facilities employed.
*Demonstrate the range of banking instruments and techniques available to exporters and importers which enable them to enter into contracts, confident that whichever method of settlement they agree upon can be provided with the minimum of risk.
*Provide a firm understanding of when to apply a particular form of finance, what risks are involved and how they can be counteracted
Now updated to include the UCP600.
*Inspired from the basic entry level training courses that have been developed by major international banks worldwide.
*Will enable MSc Finance students, MBA students and those already in the finance profession to gain an understanding of the basic information and principles underlying the topic under discussion
*Questions with answers, study topics, practical "real world" examples and text with an extensive bibliography and references ensure learning outcomes can be immediately applied
Now updated to include the UCP600.

Twelve papers focus on investment analysis, portfolio theory, and their implementation in portfolio management

John MacNamara s timely report looks at the principles and practice of structured trade and commodity finance deals and what can go wrong. It is supported by invaluable case study material.
An authoritative guide to structured trade and commodity finance in emerging marketsA detailed study of the problems and opportunities presented by structured tradeA clear explanation of typical structures and risk mitigation techniques"

'Financial Performance' presents the foundation concepts underlying the Senior Executive Programmes the Authors have taught together and separately over the last 15 years in Europe, Asia and North America.
These programmes include
The Oxford Advanced Management Programme
The Oxford Senior Executive Finance Programme
The INSEAD Advanced Management Programme
The IMI, Geneva, Advanced Management Programme
The Harvard Advanced Management Programme
The Oxford International Executive Programme, Singapore
The IMI International Finance Programme, Singapore
The book is intended as a reference manual as well as a textbook and will be of value to anyone with an interest in financial performance - particularly senior executives.

The developments in modern finance over the last two decades have considerable implications for the way senior executives think about the finance discipline. It is no longer enough to have a rudimentary knowledge of basic finance and a heavy reliance on financial specialists.
CEOs of course need excellent financial professionals - however they need to go beyond this and provide strategic leadership. This requires a conceptual framework for dealing with financial matters. This book provides a description of the underlying ideas and will be of value to anyone with an interest in financial performance - particularly senior executives.

This book revolves around the concept of value and it is organised into two parts.
Part IPerformance Measurement
Consists of three chapters, all of which focus on the real and fairly complex set of financial statements of DaimlerChrysler AG.
The first two chapters provide a detailed guided tour of the financial statements which deconstruct the complexity and then reconstruct the financials to provide a clearer base for analysis. These chapters have been arranged to deal with each line item of financial statements which have been highlighted in such a way to allow the reader to treat the materials as a reference as well as a sequential read.
Chapter three presents a framework for evaluating financial health and introduces a cash flow based model for understanding the short and medium term constraints on a firm's growth. This exposition revolves around the concept of sustainable growth.
Part 2Valuation
In the second part of the book chapter 4 introduces the cost of capital concept followed by chapter 5 which provides a general source of reference for valuation and a variety of difference applications.Chapter 6 concludes the book with a review of concept of shareholder value from a European perspective.

Rory Knight MA(Oxon), MCom, PhD, CA
Dean (Emeritus), Templeton College, University of Oxford
For the last five years Rory has been Dean of Templeton College, the University of Oxford's business college. During this time he led the Oxford Advanced Management Programme and he created the Oxford Senior Executive Finance Programme. He has considerable experience in business and management development. He is actively involved in briefing the senior executives of leading companies on issues in Finance and Strategy.
Prior to coming to Oxford Dr Knight was the deputy director of a foundation within the Swiss National Bank (SNB) and previously a Professor in Finance at IMI, Geneva & IMD, Lausanne.

Marc Bertoneche MA, MBA, DBA, Phd
Visiting Professor, Harvard Business School
Marc is a Professor in Business Administration at the University of Bordeaux and has been on the faculty at INSEAD, the European Institute of Business Administration in Fontainebleau France for more than twenty years. His areas of interest include corporate and financial strategy, mergers and acquisitions, venture capital, financial markets, corporate ownership and governance, risk management and international finance. He is currently visiting professor at the Harvard Business School.
Marc and Rory have worked as a team for over fifteen years in teaching senior executives and academic research.

Cutting edge techniques in financial management and corporate financial strategy.
How to maximize shareholder value.
Based upon the advanced management programmes at Oxford and INSEAD.