This book provides insight into the multi-dimensional process of coordinating and supervising mutual funds. This book focuses on the management of mutual funds within financial markets, with an emphasis on how corporate governance and benchmarking influence asset and portfolio management. Chapters explore four important aspects of this process in particular detail: corporate governance, benchmarking, asset management and portfolio management. The author shows that the mutual fund industry provides wider access to payment systems and to a savings safety-net that operates similarly to deposit insurance. Furthermore, he demonstrates that the Indian government's focus is on establishing the right of every person to have access to affordable basic financial services offered by banks and non-banks.

This book provides insight into current research topics in finance and banking in the aftermath of the financial crisis. In this volume, authors present empirical research on liquidity risk discussed in the context of Basel III and its implications. Chapters also investigate topics such as bank efficiency and new bank business models from a business diversification perspective, the effects on financial exclusion and how liquidity mismatches are related with the bank business model. This book will be of value to those with an interest in how Basel III has had a tangible impact upon banking processes, particularly with regard to maintaining liquidity, and the latest research in financial business models.

This book presents selected papers on the factors that serve to influence an individual's capacity in financial decision-making. Initial chapters provide an overview of the cognitive factors affecting financial decisions and suggest a link between limited cognitive capacity and the need for financial education. The book then expands on these cognitive limitations to explore the tendency for overconfidence in decision-making and the interplay between rational and irrational factors. Later contributions show how credit card companies benefit from limitations in consumer financial literacy, how gender and cognition intersect to play an important role in financial decision-making, and how to improve financial capacity through financial literacy and education campaigns, including those addressing developed marketplaces. This comprehensive collection of papers will be of value to all readers who seek to better understand the multi-factorial and complex nature of personal financial management in today's economic climate.

Businesses, investors, and consumers are grappling with the seismic daily changes technology has brought to the banking and finance industry. The Money Hackers is the story of fintech's major players and explores how these disruptions are transforming even money itself. Whether you've heard of fintech or not, it's already changing your life. Have you ever "Venmoed" someone? Do you think of investing in Bitcoin--even though you can't quite explain what it is? If you've deposited a check using your iPhone, that's fintech. If you've gone to a bank branch and found it's been closed for good, odds are that's because of fintech too. This book focuses on some of fintech's most powerful disruptors--a ragtag collection of financial outsiders and savants--and uses their incredible stories to explain not just how the technology works, but how the Silicon Valley thinking behind the technology, ideas like friction, hedonic adaptation, democratization, and disintermediation, is having a drastic effect on the entire banking and finance industry. Upon reading The Money Hackers, you will: Feel empowered with the knowledge needed to spot the opportunities the next wave of fintech disruptions will bring. Understand the critical pain points that fintech is resolving, through a profile of the major finsurgents behind the disruption. Topic areas include Friction (featuring founders of Venmo), Aggregate and Automate (featuring Adam Dell, founder of Open Table and brother of Michael Dell), and Rise of the Machines (featuring Jon Stein, founder of robo-advisor Betterment). Learn about some of the larger-than-life characters behind the fintech movement. The Money Hackers tells the fascinating story of fintech--how it began, and where it is likely taking us.

Philip Radner analyzes equity financing phenomena and researches IPO underpricing and SEO announcement effects using data sets for US REITs. Moreover, he discusses underpricing theories and their applicability in the REIT context and gives a theoretical background on IPOs and on underpricing in particular. With this background at hand, the results out of this dissertation imply to focus on the wording in IPO documents as it can help to maximize IPO proceeds. In addition, he analyzes how to better time and announce subsequent equity financing events. It is expected that significantly underpriced issues attract more investors and that subsequent SEOs are then easier to conduct and typically raise more capital.

Many years on after the 2007-8 financial crisis, most developed nations still find themselves in a state of weak recovery, high debt pile-up and distributive disparity. The intriguing question that we face is whether the golden days of modern capitalism are over, or if capitalism is just undergoing another period of adjustment characteristic of its past. What is disheartening is that the twin economic goals of sustainable growth and equality, which the world has now come to recognise as of paramount importance but mutually conflicting, remain, more now than ever, illusive and unattainable. Growth Without Inequality attempts to address this issue and to provide a pragmatic solution especially for nations in the current policy gridlock. By offering a unified framework of factors that drive growth, it shows how growth also gives rise to an array of "anomalous market forms" (defined by different degrees of value and risk visibility) that subvert distributive equity between labour and capital. It debunks both the pure free market solution and the mixed economy approach on the ground that they fail to arrest the growth propelling yet subversive power inherent in the "corporate forms" under the present capitalistic regime. Having shown that effective reform can hardly take place within the system itself, this book proposes to build a separate sector (Economy II) and partition it from the existing system (Economy I). The solution is easy to implement and quick to take effect. By one single stroke, this "Non-Marxist" solution can happily achieve the ideals of both "competitive capitalism" and "egalitarian socialism".

While residential real estate lending has gone soft, commercial lending is hot--with a wave of low interest rates and refinancing--and it shows no sign of slowing down. Right now, commercial mortgage brokering is one of the best ways to earn money without a ton of training. In this practical guide for first-timers, you'll learn the basics of brokering from application to closing, as well as inside information you won't find anywhere else. So get started!

The financial crisis has exposed severe shortcomings in mainstream monetary economics and modern finance. It is surprising that these shortcomings have not led to a wider debate about the need to overhaul these theories. Instead, mainstream economists have closed ranks to defend existing theories and public authorities have expanded their interference in markets. This book investigates the problems associated with mainstream monetary economics and finance, and proposes alternatives based on the Austrian school of economics. This school emanated from the work of the nineteenth-century Austrian economist Carl Menger and was developed further by Eugen von Boehm-Bawerk, Ludwig von Mises, and Friedrich August von Hayek. In monetary economics, the Austrian school regards the creation of money by banks through credit extension as a key source of economic instability. From this follows the need for a comprehensive reform of our present monetary system. In a new monetary order, money could be issued by both public and private institutions, and there would be no need for fractional reserve banking. Instead of creating money, banks would intermediate it. In finance, the Austrian school rejects the notion of rational expectations and measurable risk. Individuals use their subjective knowledge to gather and evaluate information, and they act in a world of radical uncertainty. Hence, markets are not "efficient" nor can portfolios be built on the basis of known probability distributions of asset prices as described in the modern finance literature. This book explores the need for a new theoretical foundation for asset pricing and investment management that will give practitioners more useful orientation.

The Chinese insurance industry has experienced rapid development during the past decade. This original book is the first English language study in the literature to address the efficiency issue of the Chinese insurance sector, and presents a comprehensive review on alternative methodologies for analyzing firm efficiency.The authors suggest alternative ways to improve performance of insurance companies in China and make useful policy recommendations on regulation, competition and development of the insurance industry. They expand the applications of data envelopment analysis and stochastic frontier analysis in the literature on technical efficiency and discuss managerial implications for both insurance companies and policymakers. Performance of the Chinese Insurance Industry under Economic Reforms will be significant for academic researchers and students of economics, finance and business. Managers of financial institutions in China and the rest of the world will find this important book intriguing, as will policymakers and regulators working in the financial and insurance industries.

Many years on after the 2007-8 financial crisis, most developed nations still find themselves in a state of weak recovery, high debt pile-up and distributive disparity. The intriguing question that we face is whether the golden days of modern capitalism are over, or if capitalism is just undergoing another period of adjustment characteristic of its past. What is disheartening is that the twin economic goals of sustainable growth and equality, which the world has now come to recognise as of paramount importance but mutually conflicting, remain, more now than ever, illusive and unattainable. Growth Without Inequality attempts to address this issue and to provide a pragmatic solution especially for nations in the current policy gridlock. By offering a unified framework of factors that drive growth, it shows how growth also gives rise to an array of "anomalous market forms" (defined by different degrees of value and risk visibility) that subvert distributive equity between labour and capital. It debunks both the pure free market solution and the mixed economy approach on the ground that they fail to arrest the growth propelling yet subversive power inherent in the "corporate forms" under the present capitalistic regime. Having shown that effective reform can hardly take place within the system itself, this book proposes to build a separate sector (Economy II) and partition it from the existing system (Economy I). The solution is easy to implement and quick to take effect. By one single stroke, this "Non-Marxist" solution can happily achieve the ideals of both "competitive capitalism" and "egalitarian socialism".

In the collective psyche, a financier is a capitalist. In managerial capitalism, the notion of the 'manager' emerged, and the role of the manager was distinct from the role of the 'owner'. Financial capitalism is similarly underpinned by financiers who are not the holders of the financial assets they buy, sell, trade or advise upon. Finance at Work explores the world of financiers, be they finance-oriented CEOs, CFOs, financial journalists, mergers and acquisitions' advisors or wealth managers. Part I investigates the professional trajectories of members of corporate boards and financialisation as the dissemination of financial logic outside its primary 'iron cage'; Part II responds by studying financiers at work within financial occupations or financial operations involving external actors; while Part III pursues the issue of financial boundaries by seeking out the way financial logic crosses these boundaries. Part IV takes back the hypothesis of differentiations within finance presented in Part I, and analyses the internal boundaries of asset management, wealth management and leveraged buyout (LBO) acquisitions. This book is essential reading for researchers and academics within the field of finance who aim to understand the 'spread of finance' in contemporary societies.

"The Philadelphia Stock Exchange and the City It Made" recounts the history of America's first stock exchange and the ways it shaped the growth and decline of the city around it. Founded in 1790, the Philadelphia Stock Exchange, its member firms, and the companies they financed had profound impacts on the city's place in the world economy. At its start, the exchange and its members helped spur the development of the early United States, its financial sector, and its westward expansion. During the nineteenth century, they invested in making Philadelphia the center of industrial America, raising capital for the railroads and coal mines that connected cities to one another and built a fossil fuel-based economy. After financing the Civil War, they underwrote the growth of the modern metropolis, its transportation infrastructure, utility systems, and real estate development.At the turn of the twentieth century, stagnation of the exchange contributed to Philadelphia's loss of power in the national and world economy. This original interpretation of the roots of deindustrialization holds important lessons for other cities that have declined. The exchange's revival following World War II is a remarkable story, but it also illustrates the limits of economic development in postindustrial cities. Unlike earlier eras, the exchange's fortunes diverged from those of the city around it. Ultimately, it became part of a larger, global institution when it merged with NASDAQ in 2008.Far more than a history of a single institution, "The Philadelphia Stock Exchange and the City It Made" traces the evolving relationship between the exchange and the city. For people concerned with cities and their development, this study offers a long-term history of the public-private partnerships and private sector-led urban development popular today. More generally, it traces the networks of firms and institutions revealed by the securities market and its participants. Herein lies a critical and understudied part of the history of metropolitan economic development.

The internet is dramatically transforming the way business is done, particularly for financial services. Digital Finance takes a thoughtful look at how the industry is evolving, and it explains how to integrate concepts of digital finance into existing traditional finance platforms. This book explores what successful companies are doing to maximize their opportunities in this context and offers suggestions on how to introduce digital finance into a firm's structure. Specific strategies for a digital future are presented, alongside numerous case studies that explore key attributes of success. In recognition of the rapidly evolving nature of finance today, Digital Finance is accompanied by a website maintained by the author (PerryBeaumont.com), as well as links to other content with insightful articles, analyses, and opinions. For both practitioners and students of finance, Digital Finance provides a rich context for a better understanding of the landscape of finance today, and lays the foundation for us to process and create the financial innovations of tomorrow.

The World Scientific Handbook of Futures Markets serves as a definitive source for comprehensive and accessible information in futures markets. The emphasis is on the unique characteristics of futures markets that make them worthy of a special volume. In our judgment, futures markets are currently undergoing remarkable changes as trading is shifting from open outcry to electronic and as the traditional functions of hedging and speculation are extended to include futures as an alternative investment vehicle in traditional portfolios. The unique feature of this volume is the selection of five classic papers that lay the foundations of the futures markets and the invitation to the leading academics who do work in the area to write critical surveys in a dozen important topics.

In this book, first published in 1890, the author endeavours to determine whether protectionism or free trade better accords with the interests of labour - particularly with regards to the raising of wages. He analyses the popularity of protection in the face of the evidence of its fallacies, and examines the principle of free trade and its consequences.

This book examines the banking crisis of July/August 2007 and its ensuing after-effects in 2008-2009: economic crisis, credit crunch, massive recapitalization of some banks and nationalization of other banks. The author offers his views on the factors which led to this global financial catastrophe and how it could have been avoided.

What does an undocumented immigrant look like? What kind of family must she come from? How could she get into this country? What is the true price she must pay to remain in the United States? JULISSA ARCE knows firsthand that the most common, preconceived answers to those questions are sometimes far too simple-and often just plain wrong. On the surface, Arce's story reads like a how-to manual for achieving the American dream: growing up in an apartment on the outskirts of San Antonio, she worked tirelessly, achieved academic excellence, and landed a coveted job on Wall Street, complete with a six-figure salary. The level of professional and financial success that she achieved was the very definition of the American dream. But in this brave new memoir, Arce digs deep to reveal the physical, financial, and emotional costs of the stunning secret that she, like many other high-achieving, successful individuals in the United States, had been forced to keep not only from her bosses, but even from her closest friends. From the time she was brought to this country by her hardworking parents as a child, Arce-the scholarship winner, the honors college graduate, the young woman who climbed the ladder to become a vice president at Goldman Sachs-had secretly lived as an undocumented immigrant. In this surprising, at times heart-wrenching, but always inspirational personal story of struggle, grief, and ultimate redemption, Arce takes readers deep into the little-understood world of a generation of undocumented immigrants in the United States today- people who live next door, sit in your classrooms, work in the same office, and may very well be your boss. By opening up about the story of her successes, her heartbreaks, and her long-fought journey to emerge from the shadows and become an American citizen, Arce shows us the true cost of achieving the American dream-from the perspective of a woman who had to scale unseen and unimaginable walls to get there.

Just plain greedy? Intrinsically corrupt? Or victims of the greatest game on earth, that of making money? The Elephant Hunters penetrates the secret world of big deals and investment banking and exposes the psyche and activities of one of the most powerful sects -financiers.

Mobile financial services (MFS) are of major interest and importance to both researchers and practitioners. The role played by nonbanking actors including telecoms and FinTech firms as well as other participants, such as PayPal and Amazon, in developing and deploying innovative financial and payment services is undeniable. Peer2peer (P2P) payments from nonbank services are becoming increasingly commonplace and will shortly be codified by EC (EU?) regulations requiring banks to provide access to consumer data for third-party app developers and service providers. Three major mobile financial systems-mobile banking, mobile payments, and branchless banking-currently dominate the electronic retail banking sector. Although interconnected and interrelated, their business models, regulatory frameworks, and target markets are distinct. This book provides a unified perspective on MFS and discusses its evolution, growth, and future, as well as identifying the frameworks, stakeholders, and technologies used in financial information systems in general and MFS in particular. Academics and researchers in digital and financial marketing will find this book an invaluable resource, as will bank executives, regulators, policy makers, FinTech professionals, and anyone interested in how mobile technology, social media and financial services will increasingly intersect.

Everything that we know about the world of finance is changing before us. Innovation is happening constantly, despite the protests of the traditional financial industry. With all the new technology that we have today, it is almost mind-blowing to think about the kind of technology that we will have in another ten years or so. The change is going to keep coming, the only thing we can do is get on board with it. This book introduces the basics of FinTech and equips readers with the knowledge to get on the cutting edge of age we live in today.

This book, first edited with an introduction by F. A. v. Hayek in 1939, explores some of the popular errors which related to the suspension of the cash payments of the Bank of England, and to the influence of our paper currency on the price of provisions. The introduction provides an interesting overview of the life, thoughts, and achievements of Henry Thornton. An Enquiry into the Nature and Effects of the Paper Credit of Great Britain will be of interest to students of the history of economic thought.

The roadmap to success for financial professionals using real-world examples, practical how-to's, and a structured approach to marketing strategy and tactics that covers the basics for beginners and inspires new ideas for marketing pros

"The Financial Marketing Services Handbook, Second Edition" gives sales and marketing practitioners the practical tools and best practices they need both to improve their job performance and their retail and institutional marketing strategies. "The FSM Handbook" guides marketing and sales professionals working in an industry characterized by cut-throat competition, client mistrust, transformative technologies, and ever-changing regulation, to understand the practical steps they must take to turn these threats into opportunities.

Providing invaluable information on how to target, win, and retain profitable customers, the book presents an overview of the basic marketing functions--segmentation, positioning, brand building, situational analyses, and tactical planning--as they relate specifically to the financial services industry. With up-to-date case studies, showing what has worked and, more tellingly, what hasn't, the book demonstrates how to effectively utilize the marketer's toolbox--from advertising and public relations to social media and mobile marketing.Discusses how social media (Twitter, Facebook, blogs, review sites) impact branding and salesPacked with new information on landing pages, email success factors, and smartphone appsDemonstrates how behavioral economics affect marketing strategyCase studies and charts are fully revised and updated

The financial industry is under intense pressure to improve profits, retain high-value clients, and maintain brand equity without straining budgets. The first edition has become an industry-standard reference book and "The Financial Services Marketing Handbook, Second Edition" gives sales and marketing professionals even more of the information they need to stretch value from each marketing dollar.

An insightful look at leadership transition from the successor's perspective Success and Succession examines the leadership transition process from the successor's point of view, and outlines the considerations and strategies that lead to a better future for the business. With a focus on practical planning and execution, this insightful guide provides insight into the strategies that smooth the transition and help the new leadership make better business decisions. You'll learn when and how to start planning, who you need on your team, and the obstacles you should anticipate along the way. You'll learn to navigate the uncertainty the process entails, and how to identify opportunities for reciprocal understanding and adopt workable approaches for successful resolution of a multitude of transition issues. Interviews with those at various stages of transition highlight the real-world application of these ideas, and give you an inside look at what worked, what didn't, and what they wish they had thought of. The transition of leadership in an independent, non-public professional service business can be emotional and difficult for everyone. This book gives you a framework for smoothing the process and driving the best possible future of the business. * Consider the complexities of succession and transition * Balance conflicting dynamics of outgoing and incoming leadership * Plan for operational, financial, and emotional obstacles * Develop and execute a winning strategy for long term success The transition from founder to successor is far from an academic exercise, and is not linear. Answers are hard to find, and the ebb and flow of the process requires patience, creativity, and willingness to try again. Success and Succession provides a unique strategy for success, from the perspective of incoming leadership.

An inside look at a Wall Street trading room and what this reveals about today's financial system Debates about financial reform have led to the recognition that a healthy financial system doesn't depend solely on how it is structured-organizational culture matters as well. Based on extensive research in a Wall Street derivatives-trading room, Taking the Floor considers how the culture of financial organizations might change in order for them to remain healthy, even in times of crises. In particular, Daniel Beunza explores how the extensive use of financial models and trading technologies over the recent decades has exerted a far-ranging and troubling influence on Wall Street. How have models reshaped financial markets? How have models altered moral behavior in organizations? Beunza takes readers behind the scenes in a bank unit that, within its firm, is widely perceived to be "a class act," and he considers how this trading room unit might serve as a blueprint solution for the ills of Wall Street's unsustainable culture. Beunza demonstrates that the integration of traders across desks reduces the danger of blind spots created by models. Warning against the risk of moral disengagement posed by the use of models, he also contends that such disengagement could be avoided by instituting moral norms and social relations. Providing a unique perspective on a complex subject, Taking the Floor profiles what an effective, responsible trading room can and should look like.

Everything you need to know to succeed in today's fastest growing sector of the consulting market.

Jim Ainsworth is an extremely successful financial planning professional with more than 30 years in the business. In How to Become a Successful Financial Consultant, he tells you everything you need to know to move into financial consulting. He familiarizes you with all the types of planning that financial consultants deal with, as well as the various investment vehicles. And, based on his own experiences and those of other successful financial consultants across the nation, he supplies you with a proven blueprint for success. You get expert advice, guidance, and insiders' tips on how to:

• Get the education, experience, and licensing you need to qualify.
• Get certified (and whether you need to).
• Develop a surefire success plan.
• Set up a practice and attract clients.
• Network, market, and sell your services.
• Set fees and collect other forms of compensation for your services.
• Avoid the 10 most common mistakes that beginners make.
• Get the most out of meetings and professional conferences.

Written by Jim Ainsworth, a financial planning professional with 30 years in the business, this valuable guide provides professionals interested in making the move into financial consulting with everything they need to know to make a living investing other people's money.

Drawing on his personal experiences and those of colleagues across North America, Ainsworth covers all the bases. He begins by describing the three major groups of financial planners and the seven different styles of asset management and helps you to decide which is right for you. You find out all about the various types of financial planning that most consultants deal with—including estate planning, retirement planning, and family financial planning—and the best investment vehicles currently available.

Ainsworth then cuts to the chase and provides the nuts-and-bolts information you need to make it as a financial adviser. Writing in a down-to-earth style, he tells you what type of education and experience you need to become an effective financial consultant, how to become licensed, how to get started in business, how to set fees and receive compensation, how to market your services and promote different financial instruments, and much more. He shows you how to develop a surefire success plan, and he supplies expert advice and guidance on how to avoid the top 10 beginners' mistakes.

Throughout this book, Ainsworth advocates taking a holistic approach to financial planning—one that takes into consideration not just people's differing needs, but their contrasting attitudes about money and investments. To that end, he provides insightful profiles of the different types of "money personalities" in the financial world and shows you how to identify and successfully work with each type.

How to Become a Successful Financial Consultant is your complete guide to making it in today's fastest growing sector of the consulting market.