Computational Finance presents a modern computational approach to mathematical finance within the Windows environment, and contains financial algorithms, mathematical proofs and computer code in C/C++. The author illustrates how numeric components can be developed which allow financial routines to be easily called by the complete range of Windows applications, such as Excel, Borland Delphi, Visual Basic and Visual C++.
These components permit software developers to call mathematical finance functions more easily than in corresponding packages. Although these packages may offer the advantage of interactive interfaces, it is not easy or computationally efficient to call them programmatically as a component of a larger system. The components are therefore well suited to software developers who want to include finance routines into a new application.
Typical readers are expected to have a knowledge of calculus, differential equations, statistics, Microsoft Excel, Visual Basic, C++ and HTML.
A CD-ROM is included which contains: working computer code, demonstration applications and also pdf versions of several research articles.
* Enables reader to incorporate advanced financial modelling techniques in Windows compatible software
* Aids the development of bespoke software solutions covering GARCH volatility modelling, derivative pricing with Partial Differential Equations, VAR, bond and stock options
* Includes CD-ROM with adaptive software

The Handbooks in Finance are intended to be a definitive source for comprehensive and accessible information in the field of finance. Each individual volume in the series should present an accurate self-contained survey of a sub-field of finance, suitable for use by finance and economics professors and lecturers, professional researchers, graduate students and as a teaching supplement. The goal is to have a broad group of outstanding volumes in various areas of finance. The Handbook of Heavy Tailed Distributions in Finance is the first handbook to be published in this series.

This volume presents current research focusing on heavy tailed distributions in finance. The contributions cover methodological issues, i.e., probabilistic, statistical and econometric modelling under non- Gaussian assumptions, as well as the applications of the stable and other non -Gaussian models in finance and risk management.

Islamic commercial and financial practice has not experienced the trial-and-error style of development that has characterized the development of the common law in the English-speaking world. Many of the principles, rules and practices prevalent in the Islamic law of contract, commerce, finance and property remain the same as those outlined by the Quran and the Prophet Muhammad, and expounded by scholars of jurisprudence as far back as the 13th century, despite the advancement in time and sophistication of commercial interaction. Hanaan Balala here demonstrates how, in order to bridge the gap between the principles outlined by the Quran and the Prophet in the 7th century and commercial practice in the 21st century, Islamic finance jurisdictions need to open themselves to learning from the experience (including the mistakes) of the English common law. "Islamic Finance and Law: Theory and Practice in a Globalized World" provides an analysis of the fundamental principles underlying the Islamic law of contract and commercial practice in comparison with their equivalents in common law in the English-speaking world. It seeks to draw parallels (and differences where appropriate) to facilitate the growth and development of Islamic commercial and financial law globally.

Over the past years, significant changes have occurred in the corporate sector arising from globalization, increasing international competitiveness, and intensive use of information and communication technologies (ICTs). These developments have led to new corporate and social behaviors that are affecting the entire corporate value chain. Thus, business organizations are focusing on technological innovation as a driving force of development. Emerging Tools and Strategies for Financial Management is a pivotal reference source that explores both practical and theoretical perspectives on how financial management is evolving and how future consequences of technological innovation will affect individuals, businesses, and society. While highlighting topics such as financial imbalance, venture capital, and shadow banking, this publication explores the relationship between companies and their customers and the methods of generating changes in today's enterprises. This book is ideally designed for business managers, financial analysts, financial controllers, directors, finance officers, treasurers, entrepreneurs, CEOs, academicians, students, and research professionals.

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).

Susiku Akapelwa is an economist and fi nancialanalyst with over 15 year's global experiencein the fi nancial sector. His expertise is in CreditLending, Risk Management, Business ProcessManagement, Enterprise Solution Developmentand Mortgage Banking. He has previously workedfor Ocwen Federal Bank, Asset ManagementOutsourcing and is currently with AmericanExpress Company. Mr. Akapelwa is also anentrepreneur and consultant in North Americaand Southern Africa. He is author of "International Management"published by Booksurge/Amazon in 2005. He received hisundergraduate & graduate education from Slippery Rock Universityof Pennsylvania & Troy University. He holds degrees in economics, business administration and international management.

An Introduction to Wavelets and Other Filtering Methods in Finance and Economics presents a unified view of filtering techniques with a special focus on wavelet analysis in finance and economics. It emphasizes the methods and explanations of the theory that underlies them. It also concentrates on exactly what wavelet analysis (and filtering methods in general) can reveal about a time series. It offers testing issues which can be performed with wavelets in conjunction with the multi-resolution analysis. The descriptive focus of the book avoids proofs and provides easy access to a wide spectrum of parametric and nonparametric filtering methods. Examples and empirical applications will show readers the capabilities, advantages, and disadvantages of each method.
*The first book to present a unified view of filtering techniques
*Concentrates on exactly what wavelets analysis and filtering methods in general can reveal about a time series
*Provides easy access to a wide spectrum of parametric and non-parametric filtering methods

This book examines a range of current issues in Islamic development management. The first part of the book explores practical issues in governance and the application of Islamic governance in new areas such as quality management systems and the tourism industry, while the second delves into questions of sustainability. The book proposes a new Islamic sustainability and offers new perspectives on CSR in connection with waqf (Islamic endowments) and microfinance. The third part of the book addresses Islamic values and how they are applied in entrepreneurship, inheritance, consumer behavior and marketing. The fourth part examines the issues of waqf and takaful (a form of insurance in line with the Islamic laws), while the fifth discusses the fiqh (the study of Islamic legal codes) and legal framework from the perspectives of entrepreneurship, higher education, reporting and inheritance (wills). The final chapter is dedicated to the application of Islamic principles in various other issues. Written in an accessible style, the book will appeal to newcomers to the field, as well as researchers and academics with an interest in Islamic development management.

This authoritative guide--the only in-depth survey of dividend policy--challenges the belief that corporate executives and financial analysts should dismiss dividend policy as irrelevant to shareholder wealth. Dividend policy does matter, say the authors, as they cite many classic and contemporary examples to show how dividend policy decisions play out in the marketplace. A carefully planned and executed policy is critical to maximizing shareholder wealth. This accessible, practical book covers every aspect of sound dividend planning and implementation. It includes a brief history of the evolution of dividends, statistics on dividends relative to profits and capital investments, their importance as a component of investor total returns, the relationship of dividends to share price, how management makes dividend decisions, and the impact of different tax regulations on dividend policies. The book focuses less on mathematics and more on the intuition of share valuation as a function of dividend policy. While the authors acknowledge the irrelevance of dividend policy in a world with perfect capital markets, they stress how market imperfections such as taxes, imperfect information, and agency issues can alter the dividend irrelevance conclusion. The book devotes special chapters to international dividend policy and to share repurchases as an alternative to dividend payouts. It concludes with the authors' recommendations on how managers should incorporate market imperfections most relevant to their firms in setting dividend policy. Dividend Policy is a must-have resource for all managers, executives, and institutional investors.

The fascinating story behind the company that revolutionized the financial world Catching Lightning in a Bottle traces the complete history of Merrill Lynch and the company's substantial impact on the world of finance, from the birth of the once-mighty company to its inauspicious end. Throughout its ninety-four year history, Merrill Lynch revolutionized finance by bringing Wall Street to Main Street, operating under a series of guidelines known as the Principles. These values allowed the company to gain the trust of small investors by putting the clients' interests first, driving a business trajectory that expanded capital markets and fueled the growth of the American post-war economy. Written by the son of Merrill Lynch co-founder Winthrop H. Smith, this book describes the creation and evolution of the company from Charlie Merrill's one-man shop in 1914 to its acquisition by Bank of America in 2008. Author Winthrop H. Smith Jr. spent twenty-eight years at the company his father co-founded, bringing a unique perspective to bear in telling the story of the company that democratized the stock market and eventually fell from its lofty perch. * Learn why the industry initially scoffed at Charles Merrill's "radical" investment ideas * Discover the origin of the Principles, and how they drove operations for nearly a century * Find out why the author left a successful Wall Street career, and why it was such a smart move * Examine the culture and values that built Merrill Lynch into one of the world's most successful and respected companies Revolutionary vision is rare, and enduring success is even more so. When a single organization demonstrates both of those characteristics, it is felt throughout the world. Discover the fascinating story behind Merrill Lynch and the men who built it from an insider's perspective in Catching Lightning in a Bottle.

With an ever growing diverse population and access to new technologies, it is no revelation that education is undergoing a significant transformation in the twenty-first century. What remains a struggle is equipping students to meet modern expectations while trying to provide a platform for learning that does not perpetuate the same inequalities found in society. Critical Practice in P-12 Education: Transformative Teaching and Learning presents a framework for teaching that empowers students, fosters literacy development and explains the underlying factors that influence pedagogy. Highlighting practises from around the globe; this book is an essential tool for P-12 educators, pre-service and in-service teachers, administrators, teacher educators and researchers across social science disciplines that have an interest in field-based educational research.

This second volume of Gyllenbok's encyclopaedia of historical metrology comprises the first part of the compendium of measurement systems and currencies of all sovereign states of the modern World (A-I). Units of measurement are of vital importance in every civilization through history. Since the early ages, man has through necessity devised various measures to assist him in everyday life. They have enabled and continue to enable us to trade in commonly and equitably understood amounts, and to investigate, understand, and control the chemical, physical, and biological processes of the natural world. The encyclopeadia will be of use not only to historians of science and technology, but also to economic and social historians and should be in every major academic and national library as standard reference work on the topic.

This book discusses risk management, product pricing, capital management and Return on Equity comprehensively and seamlessly. Strategic planning, including the required quantitative methods, is an essential part of bank management and control. A thorough introduction to the advanced methods of risk management for Credit Risk, Counterparty Credit Risk, Market Risk, Operational Risk and Risk Aggregation is provided. In addition, directly applicable concepts and data such as macroeconomic scenarios for strategic planning and stress testing as well as detailed scenarios for Operational Risk and advanced concepts for Credit Risk are presented in straightforward language. The book highlights the implications and chances of the Basel III and Basel IV implementations (2022 onwards), especially in terms of capital management and Return on Equity. A wealth of essential background information from practice, international observations and comparisons, along with numerous illustrative examples, make this book a useful resource for established and future professionals in bank management, risk management, capital management, controlling and accounting.