The authors provide the reader with an extensive tool set for active and successful management of fixed income portfolios as well as for credits. The focus of discussion is on quantitative and, for credits, qualitative methods of portfolio management. These strategies may be employed for portfolio diversification and in order to outperform the benchmark. Methods applicable for different risk factors - duration, yield curve, basis, volatility and credit management - are illustrated in detail using a top-down and bottom-up approach.

This book reports on foreign investments in transitional economies and the corporate governance of international strategic alliances in China. It throws new light on the relationship between ownership, corporate governance, international technology transfer, organizational learning and the performance of such alliances. The book reviews the problems encountered by these international strategic alliances, provides significant empirical evidence of foreign investment decisions and profiles corporate governance and organizational learning in strategic alliances. Based on research into 1000 firms in China, it draws important conclusions for theory and practice.

This comprehensive book presents an accessible guide to Risk Management and Trading applications for the Electricity Markets in a practical manner. Various methodologies developed over the last few years are considered and current literature is reviewed. Fiorenzani emphasizes the relationships between trading, hedging and generation asset management. With its clear structure and well researched text, this is an invaluable asset to Investment Professionals, Research Analysts, Energy CEO's & Risk Management Professionals. It would also be an invaluable text for postgraduates in energy finance.

This market is the largest and most liquid-call type derivative in the world. Philips and Connolly intend to clarify definitions and discuss why the warrant is so important to the institutional investor. The authors consider its versatility and the implications for profit from the tremendous volatility in this market.

Before entering the seemingly lucrative Chinese market, investors should be aware of the darkside of the current business environment. The risk of rampant corruption, economic, social and political problems, and threat to personal safety go along with the potential benefits of a thriving economy, rapid growth and swelling consumer demand. Dixon and Newman describe the Chinese business environment and its major players--the People's Liberation Army, the 'princelings'--and 'guanxi' (connections). In addition, they describe the plight of foreign business people who have recently found themselves in ugly personal situations because of China's lack of internationally accepted business practices and ethics, lack of institutionalized rule of law, and lack of an impartial law enforcement system. They conclude that any prospective business rewards must be discounted by the personal and personnel risks foreign businesses face when dealing with China.

Taiwanese foreign direct investment rapidly expanded in the mid-1980s when the domestic wage rate and the value of the Taiwanese currency skyrocketed simultaneously. Losing their competitive edge at home, many Taiwanese firms relocated to lower wage countries; mainly Southeast Asia and China. Taiwanese Firms in Southeast Asia provides a comprehensive review of Taiwan's direct investment in Southeast Asia, including Indonesia, Malaysia, Thailand, the Philippines and Vietnam. It also explores the motivation behind investment in Asia, Europe and the US. In most countries, incidence of foreign direct investment is positively correlated with firm size. However, in Taiwanese firms, the opposite is true. The book examines the reasons for this and assesses the difference in practice between small and large firms conducting foreign direct investment, focusing on the manufacturing sector. The book also includes an original, comprehensive survey and a series of interviews with Taiwanese parent firms and their subsidiaries in Southeast Asia. The authors conclude that networking underscores the core competitiveness of Taiwanese firms and when these firms invest abroad, they attempt to maintain a close connection with domestic networks to retain competitiveness and flexibility. However, they will have difficulty in sustaining this in the long-term because co-ordination of production across national borders requires intensive input of managerial resources which are scarce among Taiwanese firms. In the long-term, they have to localize and integrate themselves into the local networks. The book is a result of joint research efforts by Taiwanese, American and Southeast Asian scholars and will be required reading for students and scholars of economies in Southeast Asia, international business, Asian studies and multinational enterprise.

Disputes arising from foreign investment activities are on the increase, and with them a growing awareness among practitioners of a greater variety of settlement methods than most legal analyses have dealt with heretofore. With the experience gained in recent years from a broad spectrum of successful negotiation, arbitration, and litigation techniques, it is possible to derive a comprehensive, critical survey of the principal methods of settling foreign investment disputes. This book provides such a survey. The subject is treated systematically, dealing first with the internal balances within modern foreign investment contracts, the complexities that arise due to state participation or interference in these contracts, and the stances that are taken when disputes arise. It goes on to examine, in turn, the main issues involved in negotiation, arbitration, and judicial settlement as the methods of settling foreign investment disputes, discussing the controversial themes in each of these methods in detail. Recognizing that the focus of attention is shifting to the misconduct of multinational corporations, the last chapter contains a discussion of the role of domestic courts.

Providing a one-stop shop for every aspect of your money management, Personal Finance and Investing All-in-One For Dummies is the perfect guide to getting the most from your money. This friendly guide gives you expert advice on everything from getting the best current account and coping with credit cards to being savvy with savings and creating wealth with investments. It also lets you know how to save money on tax and build up a healthy pension. Personal Finance and Investing All-In-One For Dummies will cover:* Organising Your Finances and Dealing with Debt* Paying Less Tax* Building up Savings and Investments* Retiring Wealthy* Your Wealth and the Next Generation

This book brings together a collection of studies intended to touch upon, and advance the understanding of, the changing role of trade and foreign direct investment in a globalizing economy, and how the economies of the nation state, and the economic policies of national governments, are becoming increasingly intertwined. It examines the impact of globalization on the competitiveness of a variety of regions and countries, ranging from the European Union and New Zealand to Taiwan and Ghana, and sets out the main analytical components of competitiveness, viewed from the perspective of both firms and countries. It describes and analyzes the interface between trade, FDI flows, and the activities of MNE's, as each is affected by, and affects the level and pattern of globalization - and, in some cases, regionalization. The determinants of outward FDI and its implication for the economic structure and competitiveness of the home country are examined, as is the impact of some of the more recent developments in the global economy - and particularly that of the liberalization of trade and investment regimes - on inbound FDI. It deals with some of the consequences of globalization, and the deepening of cross-border economic relationships, on the policies of national governments. The impact of regional economic integration on FDI and trade (including trade by the foreign affiliates of MNE's) is examined, as are the policies pursued by national governments in response to recent economic events, and the implications of globalization for the macro-economic and macro-organizational policies of national administrations.

Turkey is an attractive location for Western foreign investment because of its emerging role as a springboard for foreign companies to access the newly emerging markets of Central Asia via entering joint ventures with Turkish partners. Turkey's own emerging potential and its market attractiveness for an incremental share of world foreign direct investment (FDI) inflows have also been confirmed by the U.S. government, designating the country as one of the ten Big Emerging Markets along with China, India, Russia and Brazil, which are expected to offer the greatest commercial growth opportunities in the 21st century due to their high economic growth and rapidly growing population. Tatoglu and Glaister provide an empirical analysis of the core dimensions of FDI activity based on primary data collected from Western multinationals engaged in either wholly-owned subsidiaries or joint ventures and from local Turkish firms which are the partners in joint ventures in Turkey.

Written for scholars and students of international business, global management, and strategic management, as well as for executives who are actively pursuing international market opportunities and managers in Turkish firms seeking joint venture partners, this book provides a timely account of the key facets of Western FDI activity in Turkey. Tatoglu and Glaister analyze location specific influences, strategic motives, partner selection criteria in joint ventures, management control issues and performance.

This comparative research was triggered by the assessment of property registration law published in the World Bank Doing Business reports (DB). The international and interdisciplinary team aimed to assess how legal certainty was imagined and put in practice in French and English law, using commercial real estate as a case study. Not only this study identifies the economic impact of the law in both jurisdictions, it also looked at the practitioners functions in the dealing with commercial real estate transactions. In other words, it analyses the topical position of practitioners such as the French notaires and the role of solicitors in England. Nowadays, the profession of notaires is confronted to numerous challenges. For instance, nationality requirement for its access, has been ruled by the ECJ as contrary to the freedom of establishment and art. 49 TFEU and not justified by "the exercise of public authority".In this study, the authors argue that the actual nature and the quality of the work done by the practitioners should be considered as well as financial cost and delays. They also argue that a liberalisation of professions such as civil law notaires would have very little impact on the cost associated with doing business. As a matter of fact, both the English and the French mechanisms are very similar in their objectives and outcome even though they handle the same transaction differently, because of the culturally different relevant angles.

Private equity is more economically significant than ever, as institutions hunt for high returns in a risky world. Private Equity 4.0 examines the role, workings and contribution of this important industry in a straightforward yet revealing manner. Dr. Josh Lerner Jacob H. Schiff Professor of Investment Banking Chair, Entrepreneurial Management Unit Harvard Business School A multi-perspective look at private equity's inner workings Private Equity 4.0 provides an insider perspective on the private equity industry, and analyzes the fundamental evolution of the private equity asset class over the past 30 years, from alternative to mainstream. The book provides insightful interviews of key industry figures, and case studies of some of the success stories in the industry. It also answers key questions related to strategy, fund manager selection, incentive mechanisms, performance comparison, red flags in prospectuses, and more. Private Equity 4.0 offers guidance for the many stakeholders that could benefit from a more complete understanding of this special area of finance. * Understand the industry's dominant business models * Discover how value is created and performance measured * Perform a deep dive into the ecosystem of professionals that make the industry hum, including the different incentive systems that support the industry's players * Elaborate a clear set of guidelines to invest in the industry and deliver better performance Written by a team of authors that combine academic and industry expertise to produce a well-rounded perspective, this book details the inner workings of private equity and gives readers the background they need to feel confident about committing to this asset class. Coverage includes a historical perspective on the business models of the three major waves of private equity leading to today's 4.0 model, a detailed analysis of the industry today, as well as reflections on the future of private equity and prospective futures. It also provides readers with the analytical and financial tools to analyze a fund's performance, with clear explanations of the mechanisms, organizations, and individuals that make the system work. The authors demystify private equity by providing a balanced, but critical, review of its contributions and shortcomings and moving beyond the simplistic journalistic descriptions. Its ecosystem is complex and not recognizing that complexity leads to inappropriate judgments. Because of its assumed opacity and some historical deviant (and generally transient) practices, it has often been accused of evil intents, making it an ideal scapegoat in times of economic crisis, prodding leading politicians and regulators to intervene and demand changes in practices. Unfortunately, such actors were often responding to public calls for action rather than a thorough understanding of the factors at play in this complex interdependent system, doing often more harm than good in the process and depriving economies of one of their most dynamic and creative forces. Self-regulation has clearly shown its limits, but righteous political interventions even more so. Private equity investment can be a valuable addition to many portfolios, but investors need a clear understanding of the forces at work before committing to this asset class. With detailed explanations and expert insights, Private Equity 4.0 is a comprehensive guide to the industry ways and means that enables the reader to capture its richness and sustainability.

As the world business climate globalizes and national economies become closely interlinked, India looms as the largest country in the world to embrace the market economy. Bullis maintains that not only will India be changed by international market forces, it will have a significant impact upon the world economy as it emerges as a mass consumer market and an extended, low-cost manufacturing center. But India has problems that pose difficulties for offshore investors. Only with a clear idea of Indian business thinking and the relationship of commerce to India's complex mix of traditional, caste, and religious practices can businesspeople from the West gain any real hope of success. This work provides the sort of far-reaching information and advice essential for international businesspeople and for researchers and scholars in the academic community who want to be a part of India's economic future.

Bullis asserts that Indian businesspeople are far more knowledgeable about international markets than most international businesspeople are about India. Yet, India's long period of socialist dormancy produced very different concepts of management, employee relations, the role of competition, marketing, finance, and business-government relations. All these factors will play critical roles in the success or failure of investment plans formulated outside India's borders. Moreover, Indian people have a more diverse and compartmentalized culture than any other people, posing a marketing challenge (and challenges of other kinds) that outsiders may be ill-equipped to handle. Bullis's descriptions and analyses of the Indian economy, social structure, history, and business practices will provide the kind of understandings that Westerners need to enter the Indian market and compete successfully.

A fascinating discussion of the role played by fear in financial market panics. Professor Read demonstrates, in easy-to-understand terms, that rising market fear portends to major financial declines. He explains the science and the economics of fear and shows that the financial market has learned how to capitalize on investor or economic fear

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The EU is moving towards the full implementation of the Investment Services Directive (ISD). Indeed, in some Member States, implementation has been or will be complemented by further changes to the domestic legal framework in order to cater more effectively for increased competition among financial institutions and markets. This book analyzes these developments from a legal and economic perspective and includes papers written by academics and practitioners from Europe and the US. Some papers examine critical aspects of the ISD from a comparative viewpoint, in particular considering whether further harmonization would be appropriate. Special attention is paid to the regulation of financial exchanges in the new competitive arena and to the need for co-operation between supervisors. The volume is aimed at all those involved in European securities and derivatives markets in either a legal or economic capacity. It will be of interest to banking and financial lawyers, financial economists, regulators, exchanges and intermediaries.

The Financial Markets of the Future is concerned with e-business as it applies to financial institutions who operate within these markets. It presents a strategic overview of the impact and implications of technology in these markets. The model identifies two primary inter-related technological causes of change and the elegance and simplicity of the model and format provide a means to evaluate developments in the financial markets. Aimed at all high level financial practitioners evaluating the application of e-business and in particularly to banks on the sell-side in their capacities as securities dealers.