This book is an important addition to the emerging body of new work on capital. Its primary contribution is in analysing capital investment choice as a process. The understanding of this process requires some modification and significant extension to the standard neo-classical economic tools.Capital and Uncertainty is a non-mathematical text, modernizing and adding to the existing thought in this area, with insights from game theory, rational choice under uncertainty and new institutional economics. Dr Runge also draws upon 25 years of business experience in setting out a thorough and immensely practical exposition of the risk/return trade-off and how major capital investment decisions are made within firms. Topics studied include: the nature of capital investment decisions entrepreneurship and the market order capital investment choice processes capital investment models capital decisions: choices between strategies Economists, industrial organisation specialists, business academics and practitioners alike will all find this book of immense interest and use.

Best Loser Wins is an intimate insight into one of the most prolific high-stake retail traders in the world. Tom Hougaard is the winner of multiple trading competitions and on one occasion traded GBP25,000 into more than GBP1 million over the course of a year. While the average retail trader risks GBP10 per point in the underlying asset, Tom Hougaard frequently risks up to GBP3,500 per point. This risk exposure requires a mindset that is out of the ordinary. Normal thinking leads to normal results. For exceptional results, traders must think differently. This book will guide and inspire you in ways no other trading book has. It is not about strategies and money management. It is about mind management. Tom Hougaard provides a unique and refreshingly personal account of how an ordinary trader elevated his game to incredible heights by focusing as much on his mental approach as on his technical analysis. Best Loser Wins explains how you, by thinking differently when you are trading, can elevate your game from mediocre and sporadic, to excellent and consistent. No amount of technical analysis will ever do that for you. Tom Hougaard says, "People don't fail because they don't know enough about technical analysis. They fail because they don't understand what the markets are doing to their minds." Best Loser Wins is an antidote to conventional and flawed thinking in trading, and a blueprint for a new belief system for traders who want to elevate their results to levels they never dreamed they could reach.

Intangible assets are of growing importance to corporate competitiveness and economic performance. They include R&D, human capital, innovation in products and in organisation, trademarks and patents, networking and software. This path-breaking book provides a theoretical and empirical analysis of intangible investment and its effect on public policy in Europe. The authors find that the growing importance of intangibles is transforming the direction of public policies in Europe, particularly industrial, R&D, competition and trade policies. They conclude that government policies must recognise the fact that intangible investment is becoming the key element in bringing about durable growth and accord at least the same priority to intangible factors as to physical investment. This work should be essential reading for students interested in this new field of economic analysis, national and international policymakers, and industrialists involved in the non-physical economy.

This book presents an up-to-date overview of the theory as well as the empirics of the relationship between investment, financial imperfections and uncertainty. After reviewing the capital market imperfections literature and the empirical results, the authors discuss both traditional investment models with uncertainty and the more modern option based models. They present an overview of empirical results of the modelling of investment under uncertainty. In these examples, the effects of capital market imperfections on investment are carefully considered. The authors conclude that there is overwhelming empirical support for a negative uncertainty-investment relationship. This innovative book will appeal to academics with an interest in investment theory, professionals in the financial sector and students of macroeconomics and finance. Investment, Capital Market Imperfections, and Uncertainty assumes only a basic knowledge of mathematics and is easily accessible.

Law and the Financial System: Securitization and Asset Backed Securities provides students and practitioners with a comprehensive source of materials and references for understanding the process and issues that surround the conversion of illiquid financial assets into tradable securities. The book begins with an overview of the financial system and the place of securitization in the system. The book focuses on the process and law of securitization and is derived largely from Tamar Frankel's treaties, Securitization (2nd ed. 2005). The book concludes with a global view of securitization and an assessment of the impact and future of securitizing financial assets. The legal text is enhanced with case studies and simulation exercises that bring context and practical application to the subject. Study questions covering law, business and public policy provide students with an opportunity to discuss and debate areas where answers are complex and often indeterminate. Simulation exercises enable students to test their own ideas with their peers using real world examples. The book can be used as a stand alone course on securitization or as a supplementary text for courses on financial regulation. Practitioners will find the book a useful desk reference. This is the second book co-authored by Mark Fagan and Tamar Frankel. The first was "Trust and Honesty in the Real World" (2007). About the authors: Tamar Frankel authored Fiduciary Law (2008), Trust and Honesty, America's Business Culture at a Crossroad (2006), Securitization (2d.ed 2006), The Regulation of Money Managers (2d ed. 2001 with Ann Taylor Schwing), and more than 70 articles. A long-time member of the Boston University School of Law faculty, Professor Frankel was a visiting scholar at the Securities and Exchange Commission and at the Brookings Institution. A native of Israel, Professor Frankel served in the Israeli Air Force, was an assistant attorney general for Israel's Ministry of Justice and the legal advisor of the State of Israel Bonds Organization in Europe. She practiced in Israel, Boston and Washington, D.C. and is a member of the Massachusetts Bar, the American Law Institute, and The American Bar Foundation. Mr. Fagan's research centers on the role of regulation in competitive markets. He has written about the impact of deregulation in the financial, transportation and electricity sectors. He teaches courses and guest lectures at Boston University School of Law and at Harvard Kennedy School. He has been a frequent seminar speaker at Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government; recent topics include the subprime disaster, securitization, Ponzi schemes, and financial bubbles. Mark Fagan is a founding partner of Norbridge, Inc. a general management consulting firm. He works with clients in the transportation, telecommunications and utility industries as they grapple with increasing shareholder value in a deregulated world. Prior to Norbridge, he was a Vice President of Mercer Management Consulting.

The Handbook of Research on E-Portfolios is the single source for comprehensive coverage of the major themes of e-portfolios, addressing all of the major issues, from concept to technology to implementation. It is the first reference publication to provide a complete investigation on a variety of e-portfolio uses through case studies and supporting technologies, and also explains the conceptual thinking behind current uses and potential uses not yet implemented. Over 70 international experts with countless years of experience lend this handbook the credibility that assures its readers of its extensive, recent, and reliable content. ""The Handbook of Research on E-Portfolios"" is the first handbook to investigate commercial and academic e-portfolio systems - home-grown, off the shelf, and open source - and to supply proof-of-concept evidence of successful systems.

Economics is an integral aspect to every successful society, yet basic financial practices have gone unchanged for decades. Analyzing unconventional finance methods can provide new ways to ensure personal financial futures on an individual level, as well as boosting international economies. Alternative Decision-Making Models for Financial Portfolio Management: Emerging Research and Opportunities is an essential reference source that discusses methods and techniques that make financial administration more efficient for professionals in economic fields. Featuring relevant topics such as mean-variance portfolio theory, decision tree analysis, risk protection strategies, and asset-liability management, this publication is ideal for academicians, students, economists, and researchers that would like to stay current on new and innovative methods to transform the financial realm.

This book explores whether foreign direct investment (FDI) can contribute to the competitiveness of industries in Central Europe and to narrowing the gap between these transition economies and countries within the European Union. The Czech Republic, Hungary, Slovakia and Slovenia have attracted substantial FDI since the beginning of their transition to a market economy. Using exhaustive empirical data, the authors demonstrate that foreign investment enterprises in Central Europe have higher allocative efficiency, promote macro- and microeconomic restructuring and foster the restructuring of the manufacturing sector in accordance with the host countries' comparative advantages. The case of Austria is used to demonstrate the possible benefits of FDI. On the other hand, high foreign penetration leads to the concentration of production and exports and makes the economy more vulnerable to external shocks. In addition, there may be unwelcome pressures on economic policy in order to maintain the country's position as a frequented investment target. However, the analysis in this book suggests that, on the whole, economies in transition can become more competitive more rapidly and more profoundly with the help of foreign direct investment. This book will be of interest to students and scholars of international economics, European studies, economies of transition and international business.

Financial institutions, private and public companies and governments can lose vast amounts of money from even minor changes in interest rates. Because of this, complex financial instruments have been developed to mitigate these exposures. But what happens when organisations hedge themselves to ill-advised and ill-formulated financial management strategies? Based on a proven analytical method, Mastering Interest Rate Risk Strategy explains, step-by-step, how to set up and run a sound interest rate risk strategy. Influenced by the author's work with leading companies and tested with banks, the book will help readers bring risk under control, raise profits and ensure healthy cash flows. Mastering Interest Rate Risk Strategy: Shows you how to mitigate interest rate risk using the most advanced risk management techniques Provides you with an analytical method that is proven both academically and in practice Uses examples and real life cases to support the transfer of knowledge and skills Interest rate changes will affect most firms because they will have interest bearing assets or liabilities. As a result, interest rate movements have an unfavourable impact and managing interest rate risk can be highly beneficial for the firm. But high-profile derivative blunders show that this is no easy task. In Mastering Interest Rate Risk Strategy, Victor Macrae shows you how to avoid the mis-selling of derivatives and derivatives blunders and how to set up an optimal interest rate risk strategy. Mastering Interest Rate Risk Strategy includes: Past derivatives blunders and how you can learn from them A proven analytical method for strategy formulation Hedging theory Bank financing for non-financial firms How movements in the financial markets may affect the firm Financial statement impact of interest rate risk The working and risks of using swaps, FRA's, caps, floors, collars and swaptions 'This is a wonderful and easy to read tour of interest rate risk and its management, and mismanagement. Anyone who wants to better understand why and how non-financial firms should be dealing with interest rate risk should read this book.' Gordon M. Bodnar, Professor on International Finance, Johns Hopkins University 'Macrae's guide is an excellent cookbook for financial managers. With many cases and examples, this book offers guidance in robust risk management techniques.' Abe de Jong, Professor of Corporate Finance and Corporate Governance at Rotterdam School of Management, Erasmus University

Why do so many smart professional people make bad investments? Why do they often fail to accumulate significant wealth and sometimes make truly disastrous financial decisions? This book offers some answers to these questions. It then provides specific recommendations to help doctors, lawyers, scientists, teachers, and many other intelligent people avoid serious financial errors and achieve superior investment results. Sensible self-directed investing with long-term compounding of returns and avoidance of all unnecessary fees can produce remarkable accumulations of capital with limited risk. You can choose to be successful as a largely passive investor or as one more seriously involved in making individual investment decisions. This book tells you how to do it. Buying this short volume and then putting its advice into practice may become the most important financial decisions you have ever made. About the author - Joseph D. Schulman is an internationally known physician, medical research scientist, and biomedical entrepreneur. He is also a successful investor. Dr. Schulman is a graduate of Harvard Medical School and of the Executive M.B.A. (OPM) program at Harvard Business School. He lives with his wife, Dixie, in Oxford, MD and Palm Springs, CA.