This book is a 'crossover' treatment of quantitative and qualitative risk analysis within the setting of new high technology ventures in the UK. Reid and Smith have based their research on extensive fieldwork in patent-intensive, high-technology firms. This has included face-to-face interviews with leading investors, and is illustrated by two chapters of case studies. Their aim is to advance the understanding of methods of risk assessment and to illuminate current policy concerns about stimulating innovative output and securing intellectual property. This book is unique in being academic in intent and purpose, yet strongly grounded in practice, without becoming merely a practitioner volume. Reid and Smith find a considerable consensus in the venture capital industry on the spectrum of investments by risk, and on key commercial factors affecting risk. This book offers a useful and interdisciplinary approach to an increasingly popular field of study.

In a 24/7 world and a global economy, there is no doubt that relationships impact virtually every economic transaction. In Relationship Economics, Lindon Robison and Bryan Ritchie argue that what needs to be understood is not just whether relationships matter (which, of course, they do), but also, how much, and in what circumstances they should matter. Providing a rigorous and measurable definition of the way that relationships among individuals create a capital, social capital, that can be saved, spent, and used like other forms of capital, Robison and Ritchie use numerous examples and insightful analysis, to explain how social capital shapes our ability to reduce poverty, understand corruption, encourage democracy, facilitate income equality, and respond to globalization. The first part of the book explains how social capital can be manipulated, stored, expended, and invested. The second part explores how levels of social capital within relationships influence economic transactions both positively and negatively, which in turn shape poverty levels, economic efficiency, levels and types of political participation, and institutional structures.

An incisive and comprehensive exploration of value investing in the real world In the newly revised second edition of Common Stocks and Common Sense: The Strategies, Analyses, Decisions, and Emotions of a Particularly Successful Value Investor, celebrated Wall Street value investor Ed Wachenheim walks readers through eleven revealing case studies of real-world investments made by the author's firm, Greenhaven Associates. Each case uncovers unique insights into the technical and human elements that go into any profitable investment transaction. This latest edition includes brand-new content with coverage of the electric vehicle (EV) market, and in-depth discussions of General Motors. Refreshed and renewed content also appears throughout the book, with several new investment theses appearing for the first time in this edition. Readers will also find: An emphasis on the softer, human side of value investing, including the biases and emotions that can get in the way of successful investments New material covering emerging and high-growth industries Value investing advice that goes beyond balance sheets and technical ratios An essential handbook for retail value investors everywhere, Common Stocks and Common Sense will also earn a place on the bookshelves of portfolio and fund managers, securities analysts, and anyone else with a personal or professional interest in the financial markets.

This monograph provides empirical evidence on the relationship between intellectual capital (IC) and organizational performance of social cooperative enterprises (SCEs) that work in the non-profit sector. The author presents a survey of a sample of SCEs located in Italy to identify the main components of IC for SCEs and to investigate the effect of IC sub-dimensions on a firm's performance. The book thus presents new empirical evidence on IC in non-profit organizations along with a revelation of the main value drivers by using the survey method as an IC measurement tool combined with a principal components analysis. Finally, considering the difficulties related to the data gathering process in the non-profit sector and in measuring intangible assets, this book helps in increasing the understanding of IC features with a focus on the hybrid organization as SCEs.

Demystifies regression-based valuation through simple explanations, easy-to-understand charts, and time-saving bonus resources Current methodologies using median, quartiles, or standard deviations to calculate revenue multipliers and cash flow multipliers often produce values that are wildly divergent. This forces the appraiser to choose between a very high or a very low value or consider averaging the values, opening the possibility for the appraiser to be challenged. On the surface, regression analysis appears to be the more complex, mathematical model, so many professionals shy away from using it out of fear that readers will be confused and reject the results of the appraisal. Valuing Businesses Using Regression Analysis solves this issue by breaking down regression to its simplest terms and providing easy-to-read charts and explanations that can be understood by all. Since regression analysis does not come pre-installed in Excel, this book will show you how to enable Excel's regression in your computer. Then you'll learn four different Regression tools that can be used for business valuations or for forecasting in general. As an added perk, this book also comes with a template that simplifies the entire regression methodology into the click of one button. With a minimal amount of work, you can use this template to produce a compelling four-page valuation report. See why current valuation methodologies can be wildly inaccurate and why regression analysis is a practical and preferable alternative Learn how to set up Regression in Excel and use single-variable linear regression to predict revenue and cash flow multipliers Walk through the process for conducting more advanced analyses, including curved regression with outliers and multiple variable regression Use the bonus template to create attractive four-page valuation reports using regression analysis in Excel This book is an excellent choice for valuators and other financial professionals ready to take the leap into regression analysis for more accurate, more objective business valuations.

This book is a detailed and step-by-step introduction to the mathematical foundations of ordinary and partial differential equations, their approximation by the finite difference method and applications to computational finance. The book is structured so that it can be read by beginners, novices and expert users. Part A Mathematical Foundation for One-Factor Problems Chapters 1 to 7 introduce the mathematical and numerical analysis concepts that are needed to understand the finite difference method and its application to computational finance. Part B Mathematical Foundation for Two-Factor Problems Chapters 8 to 13 discuss a number of rigorous mathematical techniques relating to elliptic and parabolic partial differential equations in two space variables. In particular, we develop strategies to preprocess and modify a PDE before we approximate it by the finite difference method, thus avoiding ad-hoc and heuristic tricks. Part C The Foundations of the Finite Difference Method (FDM) Chapters 14 to 17 introduce the mathematical background to the finite difference method for initial boundary value problems for parabolic PDEs. It encapsulates all the background information to construct stable and accurate finite difference schemes. Part D Advanced Finite Difference Schemes for Two-Factor Problems Chapters 18 to 22 introduce a number of modern finite difference methods to approximate the solution of two factor partial differential equations. This is the only book we know of that discusses these methods in any detail. Part E Test Cases in Computational Finance Chapters 23 to 26 are concerned with applications based on previous chapters. We discuss finite difference schemes for a wide range of one-factor and two-factor problems. This book is suitable as an entry-level introduction as well as a detailed treatment of modern methods as used by industry quants and MSc/MFE students in finance. The topics have applications to numerical analysis, science and engineering. More on computational finance and the author's online courses, see www.datasim.nl.

The world of quantitative finance (QF) is one of the fastest growing areas of research and its practical applications to derivatives pricing problem. Since the discovery of the famous Black-Scholes equation in the 1970's we have seen a surge in the number of models for a wide range of products such as plain and exotic options, interest rate derivatives, real options and many others. Gone are the days when it was possible to price these derivatives analytically. For most problems we must resort to some kind of approximate method.

In this book we employ partial differential equations (PDE) to describe a range of one-factor and multi-factor derivatives products such as plain European and American options, multi-asset options, Asian options, interest rate options and real options. PDE techniques allow us to create a framework for modeling complex and interesting derivatives products. Having defined the PDE problem we then approximate it using the Finite Difference Method (FDM). This method has been used for many application areas such as fluid dynamics, heat transfer, semiconductor simulation and astrophysics, to name just a few. In this book we apply the same techniques to pricing real-life derivative products. We use both traditional (or well-known) methods as well as a number of advanced schemes that are making their way into the QF literature: Crank-Nicolson, exponentially fitted and higher-order schemes for one-factor and multi-factor options Early exercise features and approximation using front-fixing, penalty and variational methods Modelling stochastic volatility models using Splitting methods Critique of ADI and Crank-Nicolson schemes; when they work and when they don't work Modelling jumps using Partial Integro Differential Equations (PIDE) Free and moving boundary value problems in QF

Included with the book is a CD containing information on how to set up FDM algorithms, how to map these algorithms to C++ as well as several working programs for one-factor and two-factor models. We also provide source code so that you can customize the applications to suit your own needs.

This book looks at the effectiveness of the 1999 restructuring of the UK through the establishment of the Scottish Parliament and the Assemblies for Northern Ireland and Wales, considering the process of devolution and its consequences on the key mechanisms of accounting and democratic accountability. Many of the chapters in this book examine whether devolution is enhancing democratic accountability, or creating a fragmentary state with conflict and tensions between the Westminster government and the devolved bodies. The focus is on the financial mechanisms for democratic accountability both in the UK and in international comparator countries (New Zealand, Norway, and the US). This book examines the turbulent pattern of relationships between central and devolved government and explores whether the present arrangements for devolution in the UK represent an end game, or whether they may be merely a stepping stone to a more fully fledged federal state. It is argued that the main thrust of many of the financial reforms in the UK has confounded, obfuscated, and complicated the desire for democratic accountability.

This book presents selected papers from the 31st Eurasia Business and Economics Society (EBES) Conference, which took place as a virtual conference due to the global COVID-19 health crisis. The theoretical and empirical papers gathered here cover diverse areas of business, economics and finance in various geographic regions, including not only topics from HR, management, finance, marketing but also contributions on public economics, political economy and regional studies.

Explore the foundations of modern finance with this intuitive mathematical guide In Mathematical Techniques in Finance: An Introduction, distinguished finance professional Amir Sadr delivers an essential and practical guide to the mathematical foundations of various areas of finance, including corporate finance, investments, risk management, and more. Readers will discover a wealth of accessible information that reveals the underpinnings of business and finance. You'll learn about: Investment theory, including utility theory, mean-variance theory and asset allocation, and the Capital Asset Pricing Model Derivatives, including forwards, options, the random walk, and Brownian Motion Interest rate curves, including yield curves, interest rate swap curves, and interest rate derivatives Complete with math reviews, useful Excel functions, and a glossary of financial terms, Mathematical Techniques in Finance: An Introduction is required reading for students and professionals in finance.

From Canada's best-selling real esate author, Don R. Campbell, and his team.

From rental properties to business offices, more and more Canadians buying real estate are unwittingly setting themselves up for problems. Real estate investments and their corresponding tax policies are complicated--without knowing the tax rules, investors will see how quickly seemingly viable investments can become financial disasters. "81 Financial and Tax Tips for the Canadian Real Estate Investor" offers practical advice on successfully navigating the tax implications of property ownership, including tips on a) deductions from income; b) preparing for an audit; and c) leveraging professional help. Filled with insights and Canadian-specific tips, there's no other book like it on the market.

Foundations in Accountancy (FIA) awards are entry-level, core-skill focused qualifications from ACCA. They provide flexible options for students and employers, and as an ACCA Approved Content Provider, BPP Learning Media s suite of study tools will provide you with all the accurate and up-to-date material you need for exam success.

Be your own financial planner and create a winning strategy to achieve your money goals Do you want to learn and apply the strategies that experts use to grow and protect wealth? In Smart Money Strategy, popular financial planner Luke Smith comprehensively reveals the principles, methods and tactics that real financial planners use with their clients. Every person's--and every family's--financial journey is different. There's no silver bullet or one-size-fits-all approach. But there are financial strategies that can be applied, no matter what stage you're at in life, to get your money working harder for you with less stress. Smart Money Strategy will help you to define your priorities and create a personalised, actionable plan to achieve your goals. You'll learn effective strategies to manage your income, reduce your debts, and maximise your investment, superannuation and retirement outcomes. Even better, you'll learn how different strategies can be stacked together for maximum benefit. In other words, you'll learn how you can stack the financial odds in your favour! You'll discover: The basics: 5 truths about money and the 5 foundations you need to get started The actual strategies used by financial planners when it comes to cash flow, risk assessment, investing, protecting wealth, retirement, and estate planning How smart planning can minimise fees and taxes on your investments How to combine your money strategies and put together your own detailed financial plan From adopting a money mindset to protecting your assets, with Smart Money Strategy you'll uncover the secrets to achieving your financial goals. Whether you want a hands-on DIY approach, or you're looking for the essentials you need to talk more confidently with your own financial planner, this book will help you create a tailored plan for growing your wealth.

Performance Contracting is a must-read for those concerned about energy and the environment. It examines state-of-the-art facts and pragmatic realities from financing to measurement and verification, and includes up-to-date "how-to's" for both end users and energy service companies. Readers will find expert advice on RFPs and RFQs, tips on making an energy project investment worthy, and guidelines for effectively negotiating and developing energy services agreements. They will also learn the key strategies for managing risks, both from a user's and a service provider's point of view, as well as ways to expand business and serve customers more effectively.

A comprehensive look at the tools and techniques used in quantitative equity management

Some books attempt to extend portfolio theory, but the real issue today relates to the practical implementation of the theory introduced by Harry Markowitz and others who followed. The purpose of this book is to close the implementation gap by presenting state-of-the art quantitative techniques and strategies for managing equity portfolios.

Throughout these pages, Frank Fabozzi, Sergio Focardi, and Petter Kolm address the essential elements of this discipline, including financial model building, financial engineering, static and dynamic factor models, asset allocation, portfolio models, transaction costs, trading strategies, and much more. They also provide ample illustrations and thorough discussions of implementation issues facing those in the investment management business and include the necessary background material in probability, statistics, and econometrics to make the book self-contained.Written by a solid author team who has extensive financial experience in this areaPresents state-of-the art quantitative strategies for managing equity portfoliosFocuses on the implementation of quantitative equity asset managementOutlines effective analysis, optimization methods, and risk models

In today's financial environment, you have to have the skills to analyze, optimize and manage the risk of your quantitative equity investments. This guide offers you the best information available to achieve this goal.

This book focuses on the comprehensive grasp and analysis of the financial data of ZLCs in 2020 and in-depth observations by ZLCA for many years. This book objectively presents the capital market distribution, overall scale, profitability, innovation ability and social contribution of ZLCs from multiple dimensions and carries out thematic analysis and research on the high proportion of accounts receivable to current assets in ZLCs in recent years, aiming at objectively presenting their competitive strength and development status. Whether you are an investor, an economic researcher or the general public interested in Z-Park, this book is an important way for you to understand the latest development of Z-Park and the high-quality listed companies in Z-Park.

This book focuses on the analysis of financial data and innovative results of Chinese Zhongguancun (Z-park) NEEQ Listed Firms in 2020 and objectively evaluates the growth ability of them. The book displays the overall scale, growth capacity, industry distribution, social contribution, and comparison with other regions of NEEQ Listed Firms in Zhongguancun from multiple dimensions, aiming at objectively presenting the growth characteristics and development status of them. For global investors, economic researchers, or financial analysts, this book is an important way to understand China's scientific and technological innovation achievements and Zhongguancun's outstanding enterprises.

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Don't you love those moments in your course when students are fully engaged? When the "Aha!" revelations are bursting like fireworks? The authors have developed a unique set of materials based directly on their collective years in the classroom. They've brought together best practices by (1) building an Organized Learning Framework for Financial Accounting, (2) reinforcing the Framework in each chapter's text and end-of-chapter assignments, and (3) enriching that Framework using real-world companies, Excel assignments, General Ledger problems, data analytics tools, and a variety of auto-graded cases. The material is communicated in a student-friendly, concise and conversational writing style. After the proven success of the first five editions of Financial Accounting, we are confident that the sixth edition will not only motivate, engage, and challenge students-it will illuminate the financial accounting course like never before.

This book shows the growing phenomenon and the broad impact of socio-environmental conflicts in the grassroots communities-farmers, fishermen and urban poor-in Indonesia, as the effects of government's development strategies based on neoliberal and New Public Management (NPM) views without a clear accountability system or socio-environmental accountability practices and reports are becoming apparent. Inspired by the emancipatory socio-environmental accounting discourse, which focuses on the socio-local context in developing alternative models of accountability based on local views and people's aspirations, this book uses research methodology based on the principles put forth by Indonesian national hero and critical scholar Tan Malaka to develop a framework of integrated accountability for the local government. This book fills the present gap in English publications that analyse the intents and outcomes of the public management reforms in Indonesia with regard to socio-environmental issues, as a basis for further research at the international level as well as policymaking in Indonesia. As the Indonesian government has recently undertaken key structural and accounting reforms in the public sector, this book is a timely and valuable read for graduate students, researchers,- and policymakers.

This book presents a unified treatment of various problems arising in the theory of financial markets with friction. It gives a succinct account of arbitrage theory for financial markets with and without transaction costs based on a synthesis of ideas.

Discover how to dip your toe into the cryptocurrency investing pool without getting burned In Sustainably Investing in Digital Assets Globally, international finance and fintech expert Selva Ozelli delivers an eye-opening and insightful discussion of cryptocurrency investment, as well as the risks and opportunities that await those who deal in this promising new technology. In the book, the author explores how cryptocurrencies have been used by illicit operators throughout the US and the world and how legitimate investors have sought to limit their exposure to illegal activity. Readers will also find comprehensive treatments of US-based and global cryptocurrency regulations, as well as: Advice for investors concerned about the environmental sustainability of blockchain technology but who still wish to invest in cryptocurrencies Information about a variety of countries and governments who have explored and implemented various cryptocurrency initiatives inside their own borders Discussions surrounding the drive by many central banks to introduce a digital currency, in addition to the surging popularity of non-fungible tokens A can't-miss handbook for the crypto-curious investor, Sustainably Investing in Digital Assets Globally deserves a place in the bookshelves of anyone with an interest in international finance, fintech, technology, or cryptocurrency.

Teach your children to make sound financial decisions. Prepare them to use their money wisely and with a purpose Money issues challenge every family, no matter their background. That's why Money Minded Families: How to Raise Financially Well Children offers advice on how every adult and child can be "financially well." The book explores how we can align our individual values with finances, while planning for a more secure financial future. It looks at how we can save, spend, share, and invest with a purpose. The author supplies financial basics for families and direction on creating a family mission statement, in order to help drive mindful financial choices. With the help of this book's holistic financial guidance, families can take steps to live their best financial lives, rather than simply getting by. Readers will find advice on: Practicing financial mindfulness Understanding the current financial landscape Spending with a focus on personal values Understanding key financial concepts Engaging in healthy financial socialization Becoming financially independent Today's financial environment sets up unique challenges, including concerns over Social Security, sky-high college costs, and debt. Kids are more likely to make their buying decisions online rather than in stores. It's important that children's knowledge about money begins in the home. When parents actively teach their kids about money, it can contribute to their chances of future financial success. Within Money Minded Families, parents will find tools for evaluating and improving their own financial wellness. They can also teach their children about positive financial health using the book's activities, which are organized by age.

Completely revised and greatly expanded, the new edition of this text takes readers who have been exposed to only basic courses in analysis through the modern general theory of random processes and stochastic integrals as used by systems theorists, electronic engineers and, more recently, those working in quantitative and mathematical finance. Building upon the original release of this title, this text will be of great interest to research mathematicians and graduate students working in those fields, as well as quants in the finance industry. New features of this edition include: End of chapter exercises; New chapters on basic measure theory and Backward SDEs; Reworked proofs, examples and explanatory material; Increased focus on motivating the mathematics; Extensive topical index. "Such a self-contained and complete exposition of stochastic calculus and applications fills an existing gap in the literature. The book can be recommended for first-year graduate studies. It will be useful for all who intend to work with stochastic calculus as well as with its applications."-Zentralblatt (from review of the First Edition)

This monograph presents a modern treatment of (1) stochastic differential equations and (2) diffusion and jump-diffusion processes. The simultaneous treatment of diffusion processes and jump processes in this book is unique: Each chapter starts from continuous processes and then proceeds to processes with jumps.In the first part of the book, it is shown that solutions of stochastic differential equations define stochastic flows of diffeomorphisms. Then, the relation between stochastic flows and heat equations is discussed. The latter part investigates fundamental solutions of these heat equations (heat kernels) through the study of the Malliavin calculus. The author obtains smooth densities for transition functions of various types of diffusions and jump-diffusions and shows that these density functions are fundamental solutions for various types of heat equations and backward heat equations. Thus, in this book fundamental solutions for heat equations and backward heat equations are constructed independently of the theory of partial differential equations.Researchers and graduate student in probability theory will find this book very useful.