An accessible reference that explores every aspect of the municipal bond market

Until now, there has been no accessible encyclopedia, dictionary, nor guide to the world of municipal bonds. Comprehensive and objective, this groundbreaking volume covers the history and mechanics of the municipal market in clear and understandable terms. It covers all aspects of the market, including pricing, trading, taxation issues and yields, as well as topical events such as the financial crisis, hysteria about defaults and Chapter 9 municipal bankruptcy, fraud, and regulation.

"Encyclopedia of Municipal Bonds" also contains entries on important historical events and provides much-needed context for this field.Everything you ever wanted to know about municipal bonds in one comprehensive resourceJoe Mysak is the author of the Bloomberg bestseller "Handbook for Muni Issuers"Demystifies the world of municipal bonds for both the novice and professional investorExplores issues such as the Orange County bankruptcy, the Jefferson County default, the New York City financial crisis, and the surprisingly recent creation of the modern municipal market

"Encyclopedia of Municipal Bonds" offers an essential reference guide for investors, professionals, regulators, insurers, and anyone else involved in the municipal bond market.

This book is the first to combine the views of scholars with those of practitioners (mostly CEOs and C-level executives) on the topic of sustainability, technology and finance. Includes the top thought leaders from the worlds of practice and research. Readers will gain insights into how technology and digitalization can fundamentally reshape the way ESG is practiced.

This collected edition captures the essence of private equity development in emerging markets, examining the evolution of the private equity industry as well as exit opportunities, financial performance, and anticipated future trends. It also discusses the 'hands-on' aspects of private equity investing in emerging markets.

With the rapid growth of China and India and the resurgence of Southeast Asia post-1997 8, emerging Asia has once again become one of the most dynamic regions in the world. This dynamism has in turn been fuelled largely by a carefully calibrated embracement of economic openness to international trade, investments and capital flows. While much has been written about international trade, there has been somewhat less work on the issue of capital flows, macroeconomic management and foreign direct investment (FDI) to and from the region, a gap that this book attempts to fill.

The book is divided into two parts. The first part deals with selected issues pertaining to macroeconomic management in small and open economies, with particular focus on exchange rates. The second part of the book deals with the trends and determinants of FDI in emerging Asia, its importance as a source of finance, its impact on growth and development, and the nexus between FDI and foreign portfolio flows (FPI).

Overall, the chapters in this book tackle important policy issues of contemporary relevance, but are informed by analytical frameworks, data and empirics. While each of the topic areas chosen in individual chapters is intentionally narrow, the book as a whole covers a number of areas and countries/regions within Asia (i.e. East, Southeast and South Asia). While the chapters have been written in a manner that can stand up to academic scrutiny, they are also meant to be accessible to policy makers, researchers and others who might be interested in FDI and related issues in Asia.

Shrouded in mystery, managed behind closed doors, and the subject of both awe and derision, the Federal Reserve is commonly referred to as the fourth branch of our federal government, with wide-ranging influence over monetary policy, and by extension, banking, price levels, employment rates, and economic growth, income, and wealth. Bernard Shull traces the fascinating and improbable history of this institution from its establishment by an Act of Congress in 1913 to the present day. His careful analysis reveals a paradoxical phenomenon: focusing on three periods of economic stress (the inflation and deflation following World War I, the stock market crash of 1929 and subsequent Depression, and the stagflation and volatility of the 1970s and 1980s), Shull argues that despite convincing evidence that the Fed contributed to these crises, it has consistently emerged from each more powerful and influential than before. Setting the current profile of the Fed against its evolutionary context, The Fourth Branch sheds new light on the Fed's character and its impact on our economic, political, and cultural history. In many ways, the story of the Fed is the classic American epic: turning adversity into opportunity, responding to threat by innovating and adapting. Even today, under attack by liberals and conservatives alike-in the wake of the stock market bubble, economic recession, and rampant job loss-the Fed is poised to remain strong long after the tenure of legendary Chairman Alan Greenspan. Setting the current profile of the Fed against its evolutionary context, The Fourth Branch sheds new light on the Fed's character and its impact on our economic, political, and cultural history.

As the global investment banking business enters its third year of lower revenues following the peak year of 2000, bank management must address a host of issues: business mix, Cost Management Risk, aligning interests of professionals with stockholders, and attracting and leading a unique team of professionals. Based on an extensive interview series with over 50 banking professionals and independent experts, this book defines best practice in addressing each issue. It concludes with the outlook for the medium term expressed by interviewees as well as by the author's own views.

Dr. Kwaw provides a wide-ranging discussion of the offshore banking and finance process, structure, and law--including, among other topics, eurocurrency wholesale deposits, international funds transfers, eurocurrency syndicated loans, eurosecurities issues, securities regulation, and swap-driven financing. Kwaw discusses both the deposit and credit sides of the offshore banking and finance market, then takes readers through a hands-on description of the nature of a eurocurrency deposit, the laws governing such deposits, and the common law of funds transfers. On the credit side, Kwaw treats regulations and common law rules for offshore banking and finance, including Exchange controls, U.S. and U.K. securities regulation, and governing law issues. A useful, readable book for professionals in banking, finance, investment and their academic colleagues.

Dr. KwaW's book is a discussion of the structure and process of offshore banking and finance and the common law and regulations that govern offshore banking and finance activities. This wide-ranging introduction to the facet of offshore banking, usually referred to as the eurocurrency market, treats not only the deposit side of the eurocurrency market--the deposit and placement of wholesale funds in foreign currency--but also the process by which funds that are deposited in offshore accounts are either loaned to borrowers or transformed into other financial assests such as eurosecurities.

On the deposit side of the market, Kwaw discusses the process of placing wholesale deposits into offshore accounts, and the interbank placement of such funds by eurobanks or banks that engage in wholesale transactions involving foreign currency. On the credit side he looks at the various financing methods--how the funds that are deposited in offshore bank accounts or eurocurrency accounts are then made available to investors and borrowers. The credit side thus includes the nature of syndicated eurcurrency loans, the nature and process of issuing eurobonds and other eurosecurities, and offshore financing methods such as swap-driven financing. Kwaw then examines the framework of common law rules and other regulations. From the deposit side he discusses the nature of legal relationships between parties to offshore currency deposits and parties involved in international funds transfers, then the nature of the legal relationship between offshore banks and funds transfer networks and the laws governing funds transfers. On the credit side he studies the laws governing international financial transactions, the exchange controls that may be imposed on offshore banking and financing transactions, the legal relationship between parties to syndicated eurocurrency loan agreements and the law governing them, the relationship and law covering parties to eurosecurities issues, and finally the legal relationship between parties to swap-driven financing. An important, readable, useful book for professionals in banking, finance, investment, and their academic colleagues.

Get a grip on NFTs and learn how to get in the game It's not often that a brand-new investment comes along that revolutionizes how we buy and sell digital assets. But that's what non-fungible tokens (NFTs) did. Built on blockchain tech, NFTs are shaking up the world of digital commodity investing. And you can get your slice of the pie before everyone jumps into the arena. In NFTs For Dummies, you'll find straightforward answers to critical aspects of the NFT phenomenon. You'll learn exactly what non-fungible tokens really are, how you can find them, and even how to create your own valuable NFTs. You'll also discover: How to find reliable and safe NFT marketplaces where you can be sure you're dealing with reputable buyers and sellers A peek behind the NFT curtain to see how NFTs work and what, exactly, you own when you buy or make an NFT Discussions of the kinds of digital properties that can be converted into an NFT Perfect for anyone who wants to learn about the market for buying, selling, and creating crypto collectibles, NFTs For Dummies is the only resource you'll need to get a handle on this cutting-edge tech and start making it work for you.

Attempting to reveal the real causes of the 1929 stock market crash, Bierman refutes the popular belief that wild speculation had excessively driven up stock market prices and resulted in the crash. Although he acknowledges some prices of stocks such as utilities and banks were overprices, reasonable explanations exist for the level and increase of all other securities stock prices. Indeed, if stocks were overpriced in 1929, then they more even more overpriced in the current era of staggering growth in stock prices and investment in securities. The causes of the 1929 crash, Bierman argues, lie in an unfavorable decision by the Massachusetts Department of Public Utilities coupled with the popular practice known as debt leverage in the 1920s corporate and investment arena.

This book extends Bierman's argument in an earlier book, "The Great Myths of 1929 and the Lessons to Be Learned" (Greenwood, 1991), in which he discussed and refuted seven myths about 1929 but could not explain the crash. He now believes he has a reasonable explanation. He also examines the actions of Charles E. Mitchell and Sam Insull and their subsequent unjust criminal prosecution after the crash of the 1929 stock market.

Today's global financial markets are every bit as vicious psychologically, and sometimes even physically, as the battles the great warriors throughout history have faced. Just as the warriors of old rode out to battle with the confidence and knowledge to conquer new lands and foes, so do the warriors of the market who thrive on the battleground of the trading floor.

In "Warrior Trading," Clifford Bennett, one of today's leading currency forecasters, outlines a path to trading success by highlighting the characteristics, the knowledge and skills, and the psychological state of mind required to be a true warrior trader. You'll be introduced to some fresh and unique perspectives regarding the markets, by looking at fundamental and technical analysis, as well as discovering how best to trade within the markets as an individual. Most importantly, you'll learn how to take advantage of those moments when the perceptions of most traders (the herd) are at odds with the underlying reality-moments when fear, greed, and other emotions wreak havoc on the ordinary trader's ability to operate objectively.

Divided into three comprehensive parts, "Warrior Trading" will show you how to develop the focus, attitude, and mental discipline of a top trader so that you can make the most out of your time in the markets.

Based on a study covering a one-year financial reporting cycle at a commercial subsidiary of a well-known scientific research organization, Inside Accounting examines how accountants and non-accounting managers construct their company's earnings. Addressing issues in both internal management accounting, such as budgeting, performance evaluation, and control, as well as external financial accounting, such as book keeping, monthly/year end accounts and auditing, David Leung focuses on how people classify transactions, make professional judgments and use computer software for accounting, and prepare for and facilitate the auditing process. He also looks at accountancy training and the impact of people's affiliations to the accounting profession or other professions on their accounting and on their perceptions of financial statements. Other contingent or contextual factors that influence the choice of accounting method, such as time pressure, reward structures, management authority and institutions are also considered. David Leung's research employs an innovative blend of theory and practice that redresses the imbalance between ethnographic studies of financial accounting, and management accounting and helps close the gap between the academic curriculum and the experiences of practitioners. His research leads the author to conclude that no act of accounting classification is ever indefeasibly correct; that the accounting community's institutions and authority are central to the accounting process and to the 'truth and fairness' of accounting numbers; that accounting training involves extensive use of learning by doing; and that both accountants and non-accounting managers have goals and interests that often result in no better than 'good enough' accounting. This book will appeal to accounting and finance professionals and academics in finance, as well as to sociologists and academic researchers interested in research methods and science studies.

First published in 1991, Stuart Bruchey's study is a historical tribute to the financial innovation of the American Stock Exchange. He chronicles the heyday of Wall Street - from events leading to the Great Depression, through the New Deal and World War II, to the electronic era, the crash of'87, and the new realities and global opportunities of the 1990s. We observe with fascination the transformation of the relocated outdoor Curb market on Broad Street to its cavernous indoor trading facility on Trinity Place, where it's been ever since - the first trading "posts" topped with light fixtures reminiscent of the outdoor lampposts they replaced. Bruchey relives for us the introduction of the first CRT terminals on the trading floor and the gradual, yet inevitable, influence of technology on the trading process. His study of modernization brings us right into the world of equity options, derivatives and other creative products introduced in latter part of the twentieth century - investment vehicles designed to serve an increasingly sophisticated and demanding marketplace of investors.

This book consists of invaluable introductions, tutorials and problems which are helpful for teaching purposes and have a very broad appeal and usage. The problems cover many aspects of static and dynamic portfolio theory as well as other important subjects such as arbitrage and asset pricing, utility theory, stochastic dominance, risk aversion and static portfolio theory, risk measures, dynamic portfolio theory and asset allocation. This material could be used with important books that cover these topics including MacLean-Ziemba's The Handbook of the Fundamentals of Financial Decision Making, and Ziemba-Vickson's Stochastic Optimization Models in Finance.

* International approach, with examples and cases from the US, Europe and Africa * Each chapter contains objectives, case studies, discussion questions and further reading suggestions. * PPT slides and data sets available as digital supplements

Part of a series which focuses on advances in futures and options research, this volume discusses a variety of topics in the field of advances in futures and options research.

The importance of technology transfer for the competitive advantage of companies and the economic success of nations cannot be overstated. Technology is a determining element for firms and nations to increase productivity, to compete, and to prosper. In The Competitive Advantage of Regions and Nations, the authors stress that companies, investment promotion agencies, and government bodies cannot simply sit and wait until new technologies arrive in their domain. Rather, they need to manage the identification, assessment, attraction, absorption and application of new technologies. In this comprehensive book, Boris Ricken and George Malcotsis explain how technology transfer in Foreign Direct Investment (FDI) projects can be systematically managed. Using some 40 case studies as illustration, they give step-by-step guidance for managers. The explanation of theory in this book, together with the frameworks and cases delivering solutions to the various challenges of technology transfer will be highly appreciated by managers of companies, investment promotion agencies, and government bodies alike. It also offers students confronted with the topic an understandable study guide.

The second volume of the series contains a combination of theoretical and empirical studies of issues in financial economics, investments, and banking authored by leading researchers in the US and Europe. Specific topics examined include asset pricing, corporate governance, dividend policy, pricing of financial services, portfolio theory, interest rate risk, capital structure, diversification strategies, and credit risk modelling. In addition to theoretical and empirical papers included in the volume, two represent applied articles written from a regulatory perspective by practising regulators.

This book analyzes China's new foreign investment law which came into force in January 2020. The new law implemented sweeping changes and overhauled China's foreign investment law regime of the last four decades. The foreign investment law aims to make the business environment more investor-friendly and address some of the contentious issues between US and China in the ongoing trade war. The book explains how the law enhances regulatory transparency. It also outlines the new approval process, that is the pre-establishment negative list system which has replaced the former approval system for foreign investment projects. The book also analyzes China's series of anti-sanction laws. This book will help give readers a better understanding of major changes and benefits under the new law and will be the first of its kind looking at the implications of this important law.

The evaluation of IT and its business value are recently the subject of many academic and business discussions, as business managers, management consultants and researchers regularly question whether and how the contribution of IT to business performance can be evaluated effectively. Investments in IT are growing extensively and business managers worry about the fact that the benefits of IT investments might not be as high as expected. This phenomenon is often called the IT investment paradox or the IT Black Hole: larges sums are invested in IT that seem to be swallowed by a large black hole without rendering many returns. Information Systems Evaluation Management discusses these issues among others, through its presentation of the most current research in the field of IS evaluation. It is an area of study that touches upon a variety of types of businesses and organization essentially all those who involve IT in their business practices.

When it comes to boosting your portfolio, you've got options! Looking for a new way to flex your investing muscle? Look no further! Options Trading For Dummies offers trusted guidance for anyone ready to jump into the versatile, rewarding world of stock options. And just what are your options options? This book breaks down the most common types of options contracts, helping you select the right strategy for your needs. Learn all about the risk-reward structure of options trading and reduce your risk through smart mixing and matching. Today's markets are more topsy turvy than ever before, but there is also more potential for everyday investors like you to profit, regardless of economic conditions. Options are great for broadening your retirement portfolio or earning a little extra scratch through shorter-term positions. Options Trading For Dummies is your plain-English resource for learning how! Demystify the world of options contracts and how to trade them, including index, equity, and ETF options Use technical analysis to create a solid trading strategy that limits your risk Protect your assets and avoid the pitfalls common to first-time options traders Learn about covered calls, butterfly positions, and other techniques that can enhance your gains Thinking of trading options, but not sure where to start? This latest edition of Options Trading For Dummies provides you with step-by-step advice for boosting your income under today's market conditions.

1. Main Goals The theory of asset pricing has grown markedly more sophisticated in the last two decades, with the application of powerful mathematical tools such as probability theory, stochastic processes and numerical analysis. The main goal of this book is to provide a systematic exposition, with practical appli cations, of the no-arbitrage theory for asset pricing in financial engineering in the framework of a discrete time approach. The book should also serve well as a textbook on financial asset pricing. It should be accessible to a broad audi ence, in particular to practitioners in financial and related industries, as well as to students in MBA or graduate/advanced undergraduate programs in finance, financial engineering, financial econometrics, or financial information science. The no-arbitrage asset pricing theory is based on the simple and well ac cepted principle that financial asset prices are instantly adjusted at each mo ment in time in order not to allow an arbitrage opportunity. Here an arbitrage opportunity is an opportunity to have a portfolio of value aat an initial time lead to a positive terminal value with probability 1 (equivalently, at no risk), with money neither added nor subtracted from the portfolio in rebalancing dur ing the investment period. It is necessary for a portfolio of valueato include a short-sell position as well as a long-buy position of some assets.

The convertible bond market has recently gained increasing significance on a global basis with particularly notable growth among very fast growing companies hungry for capital. Philip's Convertible Bond Markets is a comprehensive assessment of this market place, illustrating clearly how investors of all risk persuasions may best utilise the instrument. It will be of great interest both to academics and to professionals including equity fund managers, bond fund managers, 'swaps' teams, stock loan departments, risk controllers, treasurers and proprietary traders.