This original book is the first serious study investigating the crowdfunding phenomenon, which has developed deep meaning for various stakeholders benefiting from this funding collection mechanism and its innovative new role, especially in the processes of business creation and spread of entrepreneurship. The actors involved -promoters, supporters, and the platforms through which the campaigns are launched - constitute an ecosystem in continuous evolution, which has grown dramatically and allows for its further development. Irini Liakopoulou has conducted with the "multiple paper thesis" method in which original and innovative contributions are presented, applying new techniques and methodologies. The book's goal is to foster debate about crowdfunding, an under-researched topic whose implications are not fully understood but will be a vital part of social and economic life in the future.

Calvet and Fisher present a powerful, new technique for volatility forecasting that draws on insights from the use of multifractals in the natural sciences and mathematics and provides a unified treatment of the use of multifractal techniques in finance. A large existing literature (e.g., Engle, 1982; Rossi, 1995) models volatility as an average of past shocks, possibly with a noise component. This approach often has difficulty capturing sharp discontinuities and large changes in financial volatility. Their research has shown the advantages of modelling volatility as subject to abrupt regime changes of heterogeneous durations. Using the intuition that some economic phenomena are long-lasting while others are more transient, they permit regimes to have varying degrees of persistence. By drawing on insights from the use of multifractals in the natural sciences and mathematics, they show how to construct high-dimensional regime-switching models that are easy to estimate, and substantially outperform some of the best traditional forecasting models such as GARCH. The goal of their book is to popularize the approach by presenting these exciting new developments to a wider audience. They emphasize both theoretical and empirical applications, beginning with a style that is easily accessible and intuitive in early chapters, and extending to the most rigorous continuous-time and equilibrium pricing formulations in final chapters.
. Presents a powerful new technique for forecasting volatility
. Leads the reader intuitively from existing volatility techniques to the frontier of research in this field by top scholars at major universities.
. The first comprehensive book on multifractal techniques in finance, a cutting-edge field of research"

This book is an essential tool for understanding the range of IP investment strategies - and how companies unlock value and profit from it. It provides a valuable tutorial for businesspeople, entrepreneurs, analysts, and dealmakers seeking better to understand, with clear examples, the components of different IP categories and their value-creating applications.

The long-awaited sequel to the "Concepts and Practice of Mathematical Finance" has now arrived. Taking up where the first volume left off, a range of topics is covered in depth. Extensive sections include portfolio credit derivatives, quasi-Monte Carlo, the calibration and implementation of the LIBOR market model, the acceleration of binomial trees, the Fourier transform in option pricing and much more. Throughout Mark Joshi brings his unique blend of theory, lucidity, practicality and experience to bear on issues relevant to the working quantitative analyst.

"More Mathematical Finance" is Mark Joshi's fourth book. His previous books including "C++ Design Patterns and Derivatives Pricing" and "Quant Job Interview Questions and Answers" have proven to be indispensable for individuals seeking to become quantitative analysts. His new book continues this trend with a clear exposition of a range of models and techniques in the field of derivatives pricing. Each chapter is accompanied by a set of exercises. These are of a variety of types including simple proofs, complicated derivations and computer projects.

Chapter 1. Optionality, convexity and volatility 1

Chapter 2. Where does the money go? 9

Chapter 3. The Bachelier model 23

Chapter 4. Deriving the Delta 29

Chapter 5. Volatility derivatives and model-free dynamic replication 33

Chapter 6. Credit derivatives 41

Chapter 7. The Monte Carlo pricing of portfolio credit derivatives 53

Chapter 8. Quasi-analytic methods for pricing portfolio credit derivatives 71

Chapter 9. Implied correlation for portfolio credit derivatives 81

Chapter 10. Alternate models for portfolio credit derivatives 93

Chapter 11. The non-commutativity of discretization 113

Chapter 12. What is a factor? 129

Chapter 13. Early exercise and Monte Carlo Simulation 151

Chapter 14. The Brownian bridge 175

Chapter 15. Quasi Monte Carlo Simulation 185

Chapter 16. Pricing continuous barrier options using a jump-diffusion model 207

Chapter 17. The Fourier-Laplace transform and option pricing 219

Chapter 18. The cos method 253

Chapter 19. What are market models? 265

Chapter 20. Discounting in market models 281

Chapter 21. Drifts again 293

Chapter 22. Adjoint and automatic Greeks 307

Chapter 23. Estimating correlation for the LIBOR market model 327

Chapter 24. Swap-rate market models 341

Chapter 25. Calibrating market models 363

Chapter 26. Cross-currency market models 389

Chapter 27. Mixture models 401

Chapter 28. The convergence of binomial trees 407

Chapter 29. Asymmetry in option pricing 433

Chapter 30. A perfect model? 443

Chapter 31. The fundamental theorem of asset pricing. 449

Appendix A. The discrete Fourier transform 457

Praise for the Concepts and Practice of Mathematical Finance:

"overshadows many other books available on the same subject" -- ZentralBlatt Math

"Mark Joshi succeeds admirably - an excellent starting point for a numerate person in the field of mathematical finance." -- Risk Magazine

"Very few books provide a balance between financial theory and practice. This book is one of the few books that strikes that balance." -- SIAM Review

The series, Contemporary Perspectives on Data Mining, is composed of blind refereed scholarly research methods and applications of data mining. This series will be targeted both at the academic community, as well as the business practitioner. Data mining seeks to discover knowledge from vast amounts of data with the use of statistical and mathematical techniques. The knowledge is extracted from this data by examining the patterns of the data, whether they be associations of groups or things, predictions, sequential relationships between time order events or natural groups. Data mining applications are in finance (banking, brokerage, and insurance), marketing (customer relationships, retailing, logistics, and travel), as well as in manufacturing, health care, fraud detection, homeland security, and law enforcement.

Electronic and algorithmic trading has become part of a mainstream response to buy-side traders' need to move large blocks of shares with minimum market impact in today's complex institutional trading environment. This book illustrates an overview of key providers in the marketplace. With electronic trading platforms becoming increasingly sophisticated, more cost effective measures handling larger order flow is becoming a reality. The higher reliance on electronic trading has had profound implications for vendors and users of information and trading products. Broker dealers providing solutions through their products are facing changes in their business models such as: relationships with sellside customers, relationships with buyside customers, the importance of broker neutrality, the role of direct market access, and the relationship with prime brokers.
Electronic and Algorithmic Trading Technology: The Complete Guide is the ultimate guide to managers, institutional investors, broker dealers, and software vendors to better understand innovative technologies that can cut transaction costs, eliminate human error, boost trading efficiency and supplement productivity. As economic and regulatory pressures are driving financial institutions to seek efficiency gains by improving the quality of software systems, firms are devoting increasing amounts of financial and human capital to maintaining their competitive edge. This book is written to aid the management and development of IT systems for financial institutions. Although the book focuses on the securities industry, its solution framework can be applied to satisfy complex automation requirements within very different sectors of financialservices - from payments and cash management, to insurance and securities.
Electronic and Algorithmic Trading: The Complete Guide is geared toward all levels of technology, investment management and the financial service professionals responsible for developing and implementing cutting-edge technology. It outlines a complete framework for successfully building a software system that provides the functionalities required by the business model. It is revolutionary as the first guide to cover everything from the technologies to how to evaluate tools to best practices for IT management.
*First book to address the hot topic of how systems can be designed to maximize the benefits of program and algorithmic trading
*Outlines a complete framework for developing a software system that meets the needs of the firm's business model
* Provides a robust system for making the build vs. buy decision based on business requirements

This research review assesses the ground-breaking contributions to the evolution of knowledge in the economics of risk and time, from its early twentieth-century explorations to its current diversity of approaches. The analysis focuses first on the basic decisions under uncertainty, and then on asset pricing. It further discusses both classical expected utility approach and its non-expected utility generalizations, with applications to dynamic portfolio choices, insurance, risk sharing, and risk prevention. This review will be valuable for scholars in finance and macroeconomics, particularly those with an interest in the modeling foundations of consumer and investor decisions under uncertainty.

The Financial TruthLet's be honest; money is a predetermined tool and only so much of it will flow through our hands during our lifetime. Since we can only use money once, it is crucial that we use it wisely There are endless ways to spend our money. Trying to fulfill our financial needs, wants, and coveting desires, can run up a huge tab. Not to mention, all the seducing advertising messages, that are constantly influencing us to buy, spend, and borrow. Before we know it, we are living beyond our means and our finances are totally out of control Maybe you are living paycheck to paycheck, or experiencing a temporary setback, or perhaps you plainly need a minor money tune-up. It doesn't matter. With a little help and self discipline, you can overcome your money challenges and regain control of your finances.Unfortunately, most Americans have nothing to show at the end of their working years. Bills still arrive at their mailbox every month. Sadly, many will retire broke and penniless. Even though a million or more dollars past through their hands during their working years, most end up with no monetary support system in place.Seek and practice financial truths that will make you financially FREE The truth is, with the right plan, you can achieve financial peace and prosperity in this lifetime.

This book investigates factors that contribute to the development of an efficient financial sector in Ghana. While sustainable finance has long been known to propel economic growth and development, and while many African countries have taken initiatives to develop integrated frameworks of their financial sectors that tackle developmental challenges, scholars and policymakers have always grappled with understanding of factors that enhance performance of the financial sector. In this book, an expert team of authors examines the financial landscape, central bank policies, competition, financial innovation, financial inclusion and banking stability in Ghana, while also exploring how financing models such as enterprise finance and microfinance can be more effective in sustaining financial markets. The authors discuss how Ghana can build fortified institutions, regulatory frameworks, and productive capacity to strengthen the financial sector and foster pathways that will enhance economic development. Empirical and scientific evidence give this book a unique approach that is both qualitative and quantitative.

Anyone who works in an environment where cash is key and common will want to be trusted, be seen as effective and efficient in their style of service, and be happy on and off the job. However, this is not always the case, as most cash workers end up with low self-esteem, depressed, and frustrated. All these things result from mistakes that are based on a poor psychological understanding of the job they have to do. Winning with Cash shows you how to strike a balance between your work, your relationships on and off the job, and yourself without sacrificing the exceptional bottom line targets placed on you by your supervisor and your organization as a whole. This handy guide is filled with powerful lessons on the following: How to identify the different types of customer psychology and customer service tips How to relieve stress and decrease the number of errors you commit How to easily catch and round up a fraudster How to manage and tame your boss How to make your income bigger Winning with Cash is not just a compilation of some procedures and policies guiding the processing of cash laid up in banks, financial institutions, or sales centers'; it goes beyond this to place the cash man on a balanced psychological start, telling him where and how to deal with the challenges he must definitely encounter on the job and thereby ensuring the cash man of a successful career growth in this path.

For courses in financial and managerial accounting. Horngren's Financial and Managerial Accounting, The Managerial Chapters presents the core content of principles of accounting courses in a fresh format designed to help today's learners succeed. As teachers first, the author team knows the importance of delivering a student experience free of obstacles. Their pedagogy and content uses leading methods in teaching students critical foundational and emerging topics (e.g., data analytics and employability skills) in the field of accounting, and concentrates on improving student results - all tested in class by the authors themselves. With this in mind, the 7th Edition continues to focus on readability and student comprehension and takes this a step further by employing a new theme to help students see how accounting is used as a tool to help businesses make decisions. By providing more meaningful learning tools, this title gives professors the resources needed to help students clear hurdles inside and outside of the classroom, like never before. Features Chapter Openers present relatable stories that set up the concepts to be covered in the chapter. Students then learn the implications of those concepts on a company's reporting and decision-making processes. Common Questions, Answered is rooted in the authors' teaching experiences over the years, and offers additional help with patterns and rules that consistently confuse students. Located in the text's margin next to where the answer or clarification can be found, they help students better understand difficult concepts. Instructor Tips & Tricks throughout the text mimic the experience of having an experienced teacher walk a student through concepts on the board. Many include mnemonic devices or examples to help students remember the rules of accounting. Effects on the Accounting Equation illustrations help students see connections between transactions, as well as how transactions fit into the bigger picture. Located next to every journal entry, they reinforce the connections between recording a transaction and the effect those transactions have on the accounting equation. Try It! boxes found after each learning objective and at the end of the chapter give students the opportunity to apply the concepts they've just learned by completing an accounting problem. Things You Should Know provide students with a brief review of each learning objective presented in a question and answer format, helping to prepare them for exams. Decisions Boxes highlight common questions that business owners face, prompting students to determine the course of action they would take based on concepts covered in the chapter. Comprehensive Problems, located in select interrelated chapters, help students make connections between topics. Chapters 1-5 discusses fundamental managerial accounting concepts: job ordering, process costing, cost management systems, and cost-volume-profit analysis. Chapters 7-9 explores planning and control decisions for a manufacturing company, including a master budget, flexible budget, variance analysis, and performance evaluation. Chapters 10-11 reviews decision making, both short-term business decisions and capital budgeting decisions New to this edition Data and research, including any years and numbers as they relate to real companies (such as Kohl's and Target), ensures students have relevant examples to help them engage with the course. Discussions of important concepts and calculations help students to better understand the material. They include: Chapter 1 'Introduction to Managerial Accounting' offers updated info on the IMA Statement of Ethical Professional Practices to reflect changes made by IMA on July 1, 2017. Chapter 2 'Job Order Costing' has a new Learning Objective for calculating Cost of Goods Manufactured and Cost of Goods Sold for easier teaching, learning, and assessment activities. Chapter 8 'Flexible Budgets and Standard Cost Systems' includes updated direct materials calculations (i.e., cost vs. efficiency variance), so that inputs do not equal outputs. Employability coverage throughout the text looks at professional certifications that management accountants can obtain, such as Certified Management Accountant (CMA) and Chartered Global Management Accountant (CGMA), and highlights the importance of these credentials in today's job market. Data Analytics in Accounting features highlight real companies that are now using data analytics to track inventory, monitor cash flow, forecast sales, and maximise profits. Also discussed are advances in technology, including robotic process automation and artificial intelligence, and how they relate to the work management accountants perform. Key Terms focus on the concepts central to students' learning, including Lean Management System, Relevant and Irrelevant Revenue, and more. Check Your Understanding boxes let students gauge their comprehension of the material and have been updated to include new accounts introduced under the Revenue Recognition Standard. Tying It All Together boxes tie together key concepts from the chapter using the company highlighted in the chapter opener. The in-chapter box presents scenarios and questions that the company could face and focuses on the decision-making process. The end-of-chapter business case helps students synthesise the concepts of the chapter and reinforce critical thinking. Updates to the 7th edition includes discussion of how companies are using zero-based budgeting (chapter 7). End-of-chapter problems and exercises help students build skills to analyse and interpret information and apply reasoning and logic to new or unfamiliar ideas and situations. Updates include: an exercise on the triple bottom line (chapter 1). an exercise on completing job cost sheets (chapter 2). updated labor costs to $10 per hour (chapter 8).