'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.

Elgar Advanced Introductions are stimulating and thoughtful introductions to major fields in the social sciences, business and law, expertly written by the world's leading scholars. Designed to be accessible yet rigorous, they offer concise and lucid surveys of the substantive and policy issues associated with discrete subject areas. Taking a detailed tour through the emerging economic field of financial inclusion, this timely book charts the subtle conceptual shifts that gave rise to the focus on inclusivity in development finance, and provides an overview of key concepts, issues, and empirical findings. Diving into the crucial interaction of financial inclusion with gender, further chapters present new conceptual frameworks for thinking about these interactions, as well as discussing the impacts of gendered financial exclusion on both economic and empowerment outcomes. Key Features: Comprehensive introduction to the theory and practice of financial inclusion Accessible style, with focus boxes detailing more advanced material In-depth analysis of the relationship between female empowerment and financial inclusion Up to date discussions of recent developments in FinTech, the impact of microfinance, and the new frontiers of financial inclusion research Discussing what is known about the economic impacts of financial inclusion and what is still to be discovered, this book is an ideal companion for students and researchers of development finance and economics. It aims to inspire current and future cohorts of researchers and policymakers, as well as practitioners with an interest in financial inclusion.

A groundbreaking look at how Black visionaries—from Wall Street to Lagos and beyond—are reimagining capitalism to benefit the needs of Black people and, ultimately, everyone.

To many, the term “Black Capitalists” is oxymoronic. Black people were the labor force that built the infrastructure of American capitalism through the violent enforcement of legalized slavery, so they cannot, and should not, aspire to be the beneficiaries of it. But Wall Street professional and Yale-educated anthropologist Dr. Rachel Laryea poses a provocative question: What if there was a way to thrive within capitalism without diminishing someone else’s life chances through exploitative practices? There is—and Black Capitalists are showing us how.

Told through Dr. Laryea's own compelling narrative—growing up the child of a single mother who immigrated to the United States from Ghana and rose to the Ivy League and on Wall Street—with original on-the-ground reporting and rigorous historical analysis, Black Capitalists challenges readers to reconsider who gets to be the beneficiary of capitalism and reckons with the responsibility that comes with using the tools of our imperfect economic system to advance social good.

Dr. Laryea reveals in detail how race profoundly shapes the way we participate in capitalism—and how understanding these differences can guide us toward a more inclusive and equitable future. From newly minted undergraduates who find themselves working twenty-hour days to prove their worth on Wall Street to Nigerian startup founders working to build global credit scores, spanning the streets of Accra to the boardrooms of Goldman Sachs, Black Capitalists’ stories and analysis of innovators who are as ambitious as they are altruistic demonstrate the resilience, creativity, and ingenuity of Black people who have long been excluded from the full benefits of the American economic system. At its core, Black Capitalists shows a more productive, and more inclusive, way forward.

With the security services under resourced for the demands now being placed upon them, the Government have decided, as a temporary measure, to recruit some suitably experienced former Senior NCOa s to fulfil this role. As they are to have a slightly different role from that of MI5 and Special Branch they are to be referred to as the a Praetoriansa which of course was the name given to the elite guard given to those protecting the Roman Generals in ancient times. In the following story we follow the adventures of one of these men as he endeavours to protect his Minister both here in the United Kingdom and on her journeys overseas.

Written by prominent thought leaders in the global fintech and legal space, The LegalTech Book aggregates diverse expertise into a single, informative volume. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: - The current status of LegalTech, why now is the time for it to boom, the drivers behind it, and how it relates to FinTech, RegTech, InsurTech, WealthTech and PayTech - Applications of AI, machine learning and deep learning in the practice of law; e-discovery and due diligence; AI as a legal predictor - LegalTech making the law accessible to all; online courts, online dispute resolution - The Uberization of the law; hiring and firing through apps - Lawbots; social media meets legal advice - To what extent does LegalTech make lawyers redundant or more efficient? - Cryptocurrencies, distributed ledger technology and the law - The Internet of Things, data privacy, automated contracts - Cybersecurity and data - Technology vs. the law; driverless cars and liability, legal rights of robots, ownership rights over works created by technology - Legislators as innovators - Practical LegalTech solutions helping Legal departments in corporations and legal firms alike to get better legal work done at lower cost

Following rapid technological advancements that have taken place throughout the late 20th and early 21st centuries, this intriguing book provides a dynamic agenda for the study of artificial intelligence (AI) within finance. Through an in-depth consideration of the use of AI, it utilises case-study examples to investigate AI’s effectiveness within investment and banking. Artificial Intelligence and Financial Behaviour examines to what extent AI can guide people to improve their financial wellbeing. It explores potential effects of, and problems with, specific technologies, as well as describing current regulatory considerations regarding the use of AI and machine learning. Chapters succinctly portray the impact AI may have on investor and trader behaviour. This highly informative book will be beneficial for students and researchers studying behavioural and regulatory economics. It will also be immensely useful for financial regulators who are analysing problems from contemporary points of view.

This exercise book is comprised of questions covering topics in Differential and Integral Calculus, Matrix Algebra and Linear Programming. The aim of the work is to develop student competency in using mathematical techniques as a “toolbox” for the solution of problems relevant to Economics, Business and Finance.

The book provides an introductory revision chapter of basic mathematical principles followed by chapters of multiple-choice questions each covering a particular section of the work.

In addition to multiple-choice questions, there are extension tutorials requiring written responses and sample tests covering each section of the work. Answers are provided to each question at the back of the book together with a formula sheet for easy reference.

This innovative book explores how the design of financial education programmes could benefit from the findings of behavioural economics and finance and cognitive sciences. It covers the social, cultural and technological determinants of financial education, the role of the banking system in promoting financial literacy, and how governments and regulatory authorities are dealing with financial education and risk literacy programmes in schools. Featuring contributions from authors with diverse methodological and ideological backgrounds, Financial Education and Risk Literacy offers a rich and multifaceted debate. Chapters explore theory and empirical evidence, utilising investigations of programmes deployed and the outcomes of experiments. This book also complements the emerging literature by studying how individuals perceive and process information when making financial decisions. Economics students and scholars, in particular those studying behavioural economics, will appreciate the forward-looking agenda of this book. Its insights into how policymakers can benefit from a behavioural approach will also help regulators in the financial education sector.

Between government cutbacks, shrinking endowments, and business belt-tightening, the nonprofit sector may end up being the biggest victim of today's topsy-turvy market that few even hear about. But this does not mean that nonprofits aren't just as vital as before--if not more so--or that yours cannot receive the regular funding it needs to fulfill the mission you heroically set out to do. But it's going to take the same type of advanced organizational and competitive strategies that the most successful for-profit businesses have utilized in order to remain atop the leader board.Bridging the gap between theory and practical methods, The Nonprofit Fundraising Solution shows readers how to: - Ensure that executive leadership and board dynamics fully support fundraising initiatives - Build a broad constituency of donors aligned to the mission - Determine the right level of funding diversification - Use tactics such as challenge drives, stretch gifts, and corporate matching; parlor gatherings; leadership councils; year-end drives; corporate partnerships; and major campaigns to power revenue, increase access to wealthy donors, and raise their community profile - Proactively encourage planned giving - Avoid revenue plateausTo survive and ultimately thrive, a nonprofit needs forceful revenue strategies and an organizational culture that champions them. Complete with stories of those who have done this exceptionally well, as well as "casebooks" of the strategies-in-action, this invaluable resource for philanthropists of all kinds reveals how any nonprofit can implement advanced fundraising methods and secure the funds they need to excel.

The role of a financial manager is to ensure the financial sustainability of a firm by maintaining a firm's profitability, liquidity and solvency. Sales may generate revenue, but it is only when credit sales are converted into cash once debtors settle their accounts that these goals are achieved. As firms attempt to ensure their sustainability, they face competition from other firms, regulation, policy uncertainty and taxation issues, new technologies, as well as a dependency on suppliers and labour, plus challenges from environmental issues and dynamic economic conditions. Finance for non-financial managers explains the long-term goal of creating value, followed by the short-term goals of profitability, liquidity and solvency. A firm has to acquire assets and to finance them at the lowest cost possible. However, the management of these assets is not exclusively in the hands of a financial manager. Other functional departments, especially supply chain management and marketing, play a significant role. Finance for non-financial managers thus provides an understanding of the principles of financial management required to contribute favourably to the long-term sustainability of a firm. Finance for non-financial managers explains the financial goals of a firm, and illustrates how the principles of finance should be applied in creating wealth as opposed to simply maximising profit. With its thought-provoking opening cases and user-friendly content, this book is ideal for anyone who has little or no prior knowledge of accounting or financial management. Finance for non-financial managers is a useful resource for managers involved in marketing, human resources, logistics, supply chain management and information management, and for professionals such as engineers, architects, attorneys and medical professionals in private practice.

Utilizing a multi-paradigmatic approach in considering the scientific methodology of mainstream financial economics, and suggesting improvements, this book identifies eleven biases of the scientific methodology of mainstream financial economics. It explores intellectual bias, local bias, fad bias, ideological bias, automaticity bias, confirmation bias, cultural bias, stereotyping bias, under-productivity bias, homogeneity bias, and isolation bias. Applying this approach, which consists of four key paradigms; functionalist, interpretive, radical humanist, and radical structuralist; Kavous Ardalan considers the methodology of mainstream financial economics and identifies these biases, the rectification of which provides a broad and balanced understanding of the multi-faceted subject matter. Generating insightful theories, concepts, and analytical tools, the multi-paradigmatic approach enables a systematic and methodical approach, in the discussion of which Ardalan commences with a foundational philosophical introduction and then applies it to the methodology of financial economics. The book concludes with useful guidance on broadening both teaching and research techniques using this valuable approach in a diverse world. Active scholars and researchers in financial economics and related fields will find this a fascinating alternative read to the more traditional books, alongside those looking for an alternative method of teaching this all-important field.

In this fascinating book, Imad A. Moosa challenges existing preconceptions surrounding normative economics, arguing that what some economists see as undisputed facts of life may be myths caused by dogmatic thinking. With this in mind, Moosa argues that the alleged puzzles found in the economics and finance literature are not puzzles at all, because they can be explained intuitively, without the need for complex models or the extravaganza of econometrics. Plausible explanations are suggested for puzzles in various areas of economics and finance, such as the home bias puzzle, the PPP puzzle and the presidential puzzle. The author explains why some common beliefs are, in fact, myths, including those of the power of the market, inefficiency of the public sector and the use of low-interest policy to combat the depression caused by the Covid-19 outbreak. Controversies in Economics and Finance is a thought-provoking and stimulating read that exposes common flaws in economic analysis. It will be of great benefit to academics, graduate students and policy-makers looking to understand the limits of economic analysis.

Covering pertinent areas of sustainable and responsible investment (SRI) this forward-looking book examines SRI in developing markets including its evolution, principles and concepts. It explores the drivers and challenges in developing economies and analyses the theoretical underpinnings to critical issues pertaining to SRI. This timely book investigates investment strategies and philosophies that attempt to incorporate environmental, social and governance (ESG) concerns into investment decision-making. In turn it provides an in-depth review of a number of different motivations for SRI, including: personal values and goals, institutional missions, and the demands of clients, constituents or plan participants. Sustainable and Responsible Investment in Developing Markets further defines how to integrate ESG issues into investment portfolios, looking to sustainable and responsible investors with a focus on financial performance, who believe in using these investments to promote ESG practices. With a focus on sustainability in relation to business and investment, this expansive book will be a useful guide for finance, business, environment, geography and innovation students, and researchers, practitioners, and policymakers interested in understanding sustainable and responsible investment, specifically for developing countries.

First published as "Tracks: the Cv" work directory in 1997, the tenth revised and updated edition is published in 2006. It gives information of over 130 professions in the UK, organised in eight booklets from communications media to service industries. Titles include pathways in the arts, construction industry, financial services, health care, insurance, land and sea work, law, leisure and tourism, local government, manufacturing crafts, marketing, planning and public services. Qualifications are listed from GCSE and NVQ/BTEC to degree level. There are work descriptions and pay scales with interviews and advice from British chartered institutes and individuals established in the particular field. Designed in an easy to access format of a page per profession, the handbooks also include contacts for working in countries in the European Union and a detailed index of internet recruitment sites for each sector. "Tracks Directory 1" covers career paths in financial services, including retail and investment banking, insurance, accounting, auditing and the Inland Revenue.

An outrageous, white-knuckle journey to the dark heart of an intoxicating world - from someone who survived the trading game and then blew it all wide open

'If you were gonna rob a bank, and you saw the vault door there, left open, what would you do? Would you wait around?

Ever since he was a kid, kicking broken footballs on the streets of East London in the shadow of Canary Wharf's skyscrapers, Gary wanted something better. Something a whole lot bigger.

Then he won a competition run by a bank: 'The Trading Game'. The prize: a golden ticket to a new life, as the youngest trader in the whole city. A place where you could make more money than you'd ever imagined. Where your colleagues are dysfunctional maths geniuses, overfed public schoolboys and borderline psychopaths, yet they start to feel like family. Where soon you're the bank's most profitable trader, dealing in nearly a trillion dollars. A day. Where you dream of numbers in your sleep - and then stop sleeping at all.

But what happens when winning starts to feel like losing? When the easiest way to make money is to bet on millions becoming poorer and poorer - and, as the economy starts slipping off a precipice, your own sanity starts slipping with it? You want to stop, but you can't. Because nobody ever leaves.

Would you stick, or quit? Even if it meant risking everything?

"The first edition of Municipal finance and accounting was published in 2007, and was the first comprehensive text on the principles and best practice of municipal finance and accounting to appear since Dr Jack Cowden's 1968 treatment of more or less the same subject matter. The first edition was revised in 2011, the main changes being the inclusion of considerable additional material on the legislative framework governing municipalities, an extensive revision of the chapter on municipal budgets in order to incorporate the approaches introduced by the 2009 regulations on budgets and reporting requirements, and various amendments to chapters 3 and 4 to reflect the advent of further GRAP standards and changes in important local government statutes. The example of the annual financial statements contained in Chapter 5 was entirely redone to accord with the requirements of GRAP, and the chapter itself amended to include summaries of most of the prescribed GRAP standards. The many changes in municipal finance that occurred since 2011 have now necessitated a second revision. All new enacted legislation and amendments to existing legislation have been included, as well as important impending legislation and new regulations, particularly those issued in terms of the Municipal Systems Act and Municipal Finance Management Act. Important MFMA circulars are also covered, as are other significant guidelines issued by the National Treasury. Various other matters of importance in relation to the financial administration and governance of municipalities are also dealt with, including municipal public accounts committees (MPACs), new approaches to grants, the supply chain management reporting framework and several significant court cases. An updated version of the annual financial statements has also been prepared. As with the original edition, this revised version deals holistically with all the key features of municipal finance and accountancy, with emphasis on the principles of sound financial governance in municipalities. It is designed for use in tertiary education and also for regular consultation by accounting officers, financial and non-financial officials and councillors in the performance of their duties. Municipal finance and accounting should be useful to anyone involved with, or interested in, the financial administration and governance of municipalities."

Crypto is red-hot right now.

Media outlets are giving crypto unprecedented airtime while the general public has been captivated by the staggering price rises seen across the board. When measured in US dollar terms, Bitcoin ballooned by over 10 times in the 2017 calendar year alone.

Beyond the tremendous increases in value, crypto has received so much attention because of the challenging questions it raises about money and the role of central authorities such as banks and governments - roles which were taken for granted in the past.Before the start of the crypto revolution, government-issued banknotes and coins seemed to be the only conceivable forms of money. We had never known any other way in our lifetime, nor in that of our parents.

Fast-forward to today, and many members of the crypto community ardently believe that crypto is destined to replace government-issued money, just as the personal computer replaced the typewriter. If this vision is even halfright, the implications are hard to overstate. At the very least, crypto promises to substantially weaken the monopoly power of centralized institutions.

But these are still early days for crypto. And most members of the public find crypto to be, well, cryptic. As United States Senator Thomas Carper said: "Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others, and confused the heck out of the rest of us."1 Perhaps some readers can relate to that sentiment.

Truthfully, few people have an accurate understanding of how crypto works, and many are highly skeptical. The Crypto Intro has been written to explain everything and respond to the tough crypto questions.But we may be getting ahead of ourselves. Before taking a look at how crypto functions, let's make sure we understand what we're talking about.