|
Showing 1 - 4 of
4 matches in All Departments
New venture founders and their sponsors seek to create economic
value by finding and commercializing new and better ways of doing
things. Their common goal, which also defines the purpose of the
entrepreneurial process itself, requires a better grasp of the key
elements that influence the choices involved in attempting to
create economic value under highly uncertain conditions. It also
requires a deeper understanding of the consequences of new venture
investment as well as the various contextual factors that influence
investment decisions and venture outcomes. When confronted with a
particular decision making problem faced by entrepreneurs and new
venture investors, academic scholars analyze how and why the
problem in question is a special case of some theory or model which
they know. In seeking to detect generalities and to make abstracted
sense of observed realities, academics generally classify the
problem in a way that is a natural consequence of the specific
discipline- or field-based knowledge they possess (Davidsson,
2002). The explanations that academic researchers provide and the
predictions they make are therefore likely to be framed in terms of
the types of variables, theoretical perspectives, levels of
analysis, and research methodologies with which they are familiar.
In seeking to explore the intellectual underpinnings of new venture
investment, we have gathered and organized a set of papers that
provide scholarly analysis of the choices involved in new venture
investment as well as the various contextual factors that influence
investment outcomes. To insure a more robust and hopefully
interesting scholarly treatment of such problems, we sought to
include a variety of interdisciplinary and international
perspectives that reflect a broad range of theoretical and
empirical approaches.
The papers in this volume empirically examine three evolving and
important topics in financial economics: the determinants of
monetary and bank efficiency and the key factors that contribute to
successful monetary and banking operations; the institutional
factors that enhance or detract from the efficient manner in which
financial markets work; and the macro, micro, and social factors
that impact stock valuation and optimum portfolio selection.
This volume contains contemporary analysis of three key
developments in financial economics: financial integration; the
dynamics of financial markets; and the information, computer, and
technology revolution and its impact on markets and the economic
performance, among others. With regard to financial integration,
the contributions focus on three streams in international finance:
the impact of increased financial integration on credit risk and on
the required regulatory arrangements needed to reduce the
probability of welfare reducing bank failures, the creation of new
international currencies, and the relationship between finance and
growth. With regard to the dynamics of financial markets, specific
attention is devoted to the complex interaction of different sets
of traders with heterogeneous beliefs and information sets.
Finally, with respect to the ICT revolution, attention is focused
on its impact on: foreign direct investment across countries,
competition in the banking industry, consolidation in the financial
services industry including its effects credit availability for
small and medium sized enterprises, and the capital structure
decisions of financial firms.
Financial models are an inescapable feature of modern financial
markets. Yet it was over reliance on these models and the failure
to test them properly that is now widely recognized as one of the
main causes of the financial crisis of 2007-2011. Since this
crisis, there has been an increase in the amount of scrutiny and
testing applied to such models, and validation has become an
essential part of model risk management at financial institutions.
The book covers all of the major risk areas that a financial
institution is exposed to and uses models for, including market
risk, interest rate risk, retail credit risk, wholesale credit
risk, compliance risk, and investment management. The book
discusses current practices and pitfalls that model risk users need
to be aware of and identifies areas where validation can be
advanced in the future. This provides the first unified framework
for validating risk management models.
|
You may like...
Loot
Nadine Gordimer
Paperback
(2)
R398
R330
Discovery Miles 3 300
|