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Stock Markets and Corporate Finance: A Primer examines the nature
of the stock market and its implications for corporate management.
In the historical context of financial institutions and business
finance, students are stimulated to learn that traditional totems
of corporate finance can no longer be presented as dogma, but
rather as exceedingly frail models of reality. At the core of this
text is the philosophy that financial institutions and
corporate/business finance are more satisfactorily understood in
relation to one another.This revised text from the 2017 Stock
Markets and Corporate Finance has allowed for a reshaping of the
material with the deletion of a number of chapters considered
'interesting' but overly academic. This additional space has
allowed for an update on the chapter 'Financial Institutions and a
History of Stock Markets' as well as accounting for the
circumstances of a post-COVID-19 era. The chapter 'Financial
Planning and Working Capital' has been reworked to demonstrate how
a firm's financial management team might interrogate its financial
accounts to assess the viability of the firm and the management of
its working capital.From reading this book, the reader will achieve
insight into the behaviour and importance of financial institutions
and firms as they are presented in the media, and how they impact
on their own lives. Exercises and solutions are designed to
re-enforce chapter material, while animated PowerPoint
presentations are available as supplementary material to the book.
This book examines the nature of the stock market and its
implications for corporate management. It provides an introduction
to core issues in finance and differs from traditional textbooks in
its recognition that 'finance is not physics' - in the sense that
how markets behave today is not necessarily how they will behave
tomorrow. Nevertheless, a certain level of 'physics' can be
recognized as underpinning the development of stock market
valuations and corporate financial decision-making.In short, the
objective of the text is to instill insight in regards to the
functioning of markets and corporate behavior, as opposed to
algebraic derivations from unrealistic assumptions. Rather than
subscribe unthinkingly to an 'efficient market hypothesis', at each
stage of the development of the text's conceptual framework, we
also recognize the reality of market 'sentiment' and the
fundamental uncertainty that managers face in their decisions.Based
around a teaching programme with worked questions and solutions,
Stock Markets and Corporate Finance is the perfect accompaniment
for MBA, undergraduate and graduate students looking for a critical
textbook on the nature of the financial sector and corporate
finance.
This book examines the nature of the stock market and its
implications for corporate management. It provides an introduction
to core issues in finance and differs from traditional textbooks in
its recognition that 'finance is not physics' - in the sense that
how markets behave today is not necessarily how they will behave
tomorrow. Nevertheless, a certain level of 'physics' can be
recognized as underpinning the development of stock market
valuations and corporate financial decision-making.In short, the
objective of the text is to instill insight in regards to the
functioning of markets and corporate behavior, as opposed to
algebraic derivations from unrealistic assumptions. Rather than
subscribe unthinkingly to an 'efficient market hypothesis', at each
stage of the development of the text's conceptual framework, we
also recognize the reality of market 'sentiment' and the
fundamental uncertainty that managers face in their decisions.Based
around a teaching programme with worked questions and solutions,
Stock Markets and Corporate Finance is the perfect accompaniment
for MBA, undergraduate and graduate students looking for a critical
textbook on the nature of the financial sector and corporate
finance.
Stock Markets, Investments and Corporate Behavior examines the
nature of stock market growth and decline, the function of
financial markets, and their implications for commercial companies.
Traditionally, finance academics have attempted to understand
financial markets and commercial companies as physicists approach
their subject matter: with a set of laws in mind that govern the
field. But finance is not physics. The academic's approach falsely
assumes that financial markets can be understood as systems within
which self-interested maximizers behave in logical ways that are
coordinated by the invisible hand of the price mechanism. This book
demonstrates that finance is more appropriately understood as a
field in which investors and finance managers may or may not use
rational calculations as the basis of their decision making.This
book opens with an effective dismantling of the traditional
mathematical approach used to understand and describe markets and
corporate financial behavior. In its place, the mathematics of
growth and decline is developed anew, while holding to the
realization that the decisions of organizations rely on the choices
of real people with limited information available to them. The book
will appeal to all students who wish to reappraise their knowledge
of finance in a thoughtful manner. Specifically, this book is
designed to appeal to anyone who wishes to refine their
understanding of the nature of stock markets and financial growth,
optimal portfolio allocation, option pricing, asset valuation,
corporate financial behavior, and what it means to be ethical in
our financial institutions.
Stock Markets and Corporate Finance: A Primer examines the nature
of the stock market and its implications for corporate management.
In the historical context of financial institutions and business
finance, students are stimulated to learn that traditional totems
of corporate finance can no longer be presented as dogma, but
rather as exceedingly frail models of reality. At the core of this
text is the philosophy that financial institutions and
corporate/business finance are more satisfactorily understood in
relation to one another.This revised text from the 2017 Stock
Markets and Corporate Finance has allowed for a reshaping of the
material with the deletion of a number of chapters considered
'interesting' but overly academic. This additional space has
allowed for an update on the chapter 'Financial Institutions and a
History of Stock Markets' as well as accounting for the
circumstances of a post-COVID-19 era. The chapter 'Financial
Planning and Working Capital' has been reworked to demonstrate how
a firm's financial management team might interrogate its financial
accounts to assess the viability of the firm and the management of
its working capital.From reading this book, the reader will achieve
insight into the behaviour and importance of financial institutions
and firms as they are presented in the media, and how they impact
on their own lives. Exercises and solutions are designed to
re-enforce chapter material, while animated PowerPoint
presentations are available as supplementary material to the book.
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