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Elsevier

Books in Economics and finance

Our Economics and Finance titles are essential reading for students, scholars, policymakers, and market practitioners who want to stay up-to-date with the latest research and foundational topics in the field, from financial markets and trade to e-commerce, econometrics, quantiative investing, financial technology, financial engineering, global finance, corporate finance, law and economics, macro and microeconomics, and risk management.

Titles manage to balance quality of content with the increasing demand for a wider view of the vast array of topics in the field of Economics and Finance.

  • Public Finance

    A Normative Theory
    • 2nd Edition
    • Richard W. Tresch
    • English
    Featuring a general equilibrium framework that is both cohesive and versatile, the Second Edition of Public Finance: A Normative Theory brings new and updated information to this classic text. Through its concentration on the microeconomic theory of the public sector in the context of capitalist market economics it addresses the subjects traditionally at the heart of public sector economics, including public good theory, theory of taxation, welfare analysis, externalities, tax incidence, cost benefit analysis, and fiscal federalism. Its goal of providing a foundation, rather than attempting to present the most recent scholarship in detail, makes this Second Edition both a valuable text and a resource for professionals.

  • An Introduction to Executive Compensation

    • 1st Edition
    • Steven Balsam
    • English
    General readers have no idea why people should care about what executives are paid and why they are paid the way they are. That's the reason that The Wall Street Journal, Fortune, Forbes, and other popular and practitioner publications have regular coverage on them. This book not only proposes a reason--executives need incentives in order to maximize firm value (economists call this "agency theory")--it also describes the nature and design of executive compensation practices. Those incentives can take the form of benefits (salary, stock options), perquisites (reflecting the status of the executive within the organizational culture. This book is important because it takes the elements of an executive compensation package apart, analyzing them in the contexts of both economic theory and corporate practice and then explains how, under varying conditions, one might construct a compensation package that optimizes an executive's and a corporation's performance.

  • Valuation of Internet and Technology Stocks

    Implications for Investment Analysis
    • 1st Edition
    • Brian Kettell
    • English
    Valuation of Internet and Technology Stocks offers practical information on how to value internet and high-tech companies more accurately. The book reviews previous practice, highlights the deficiencies in existing stock market techniques, and shows how to modify or replace them. It also demonstrates how the New Economics necessitates new forms of investment analysis. This book presents new ways of looking, researching and valuing internet and high-tech companies. It explains why there has been a high correlation between high loss companies and a rocketing stock price. It questions whether there is still a place for discounted cash flows when there is no cash flow to discount. It also considers what new methods are available to value super growth companies and whether these methods are any better than existing techniques. Chapters deal with a wide range of topics including: where technology/internet stocks fit in a new economy; how you value traditional common stocks; application of the Porter model to the valuation of technology/internet stocks; problems with applying traditional valuation models for technology/internet stocks; derivative markets and real options; and the lessons that can be learned by investors from the year 2000 collapse of technology/internet stocks. This text will be of interest to traders, investment managers, institutional investors, plan managers, and finance professionals.

  • Raising Entrepreneurial Capital

    • 1st Edition
    • John B. Vinturella + 1 more
    • English
    Raising Entrepreneurial Capital begins where entrepreneurship books leave off. This book provides a broad, high-level discussion of the financing decisions that companies must make to achieve success. With a focus on classic capital raising, the text covers the debt vs. equity decision, as well as the options available to smaller businesses. It also describes the factors that lead to rapid growth, including venture capital, IPOs, angels, incubators, and much more. Combining solid theory with practitioner's experience and insights, this book should increase student understanding of how to raise entrepreneurial capital. It explains how your company should position itself to attract private equity investment, and what steps you can take to improve your company's marketability. It includes several chapters on worldwide regional variations on forms and availability of pre-seed capital, incubators, and the business plans they create, with case-studies from Europe, Latin America, and the Pacific Rim. It also effectively differentiates between venture capital and entrepreneurial capital. This book will appeal to entrepreneurs and to students in Entrepreneurship programs, particularly entrepreneurial finance courses.

  • Lead and Zinc

    Threats and Opportunities in the Years Ahead
    • 1st Edition
    • Nnamdi Anyadike
    • English
    This report provides a detailed overview of the market position and outlook in these two closely related metals, looking at supply and demand trends in each individually and addressing key issues for the future, including the impact of developments in the environmental arena and the recycling marketplace.

  • Copper

    A Material for the New Millennium
    • 1st Edition
    • Nnamdi Anyadike
    • English
    A report examining the supply and demand outlook for copper across its key producers and end-users. It provides a detailed analysis of likely growth and demand trends in the computer, transport, telecommunications and construction sectors, considering both the opportunities and threats to copper in each of its key applications.

  • Nickel

    An Industry On the Brink of Expansion
    • 1st Edition
    • Nnamdi Anyadike
    • English
    This far-reaching report addresses nickel industry's key issues as it emerges from the roller-coaster ride of price volatility which has characterised it in recent years. In 2002 the indications are for an upswing in demand as industrial activity starts to pick up again: however, on the supply side it is unclear how much output will be realised from the "mega" projects that were announced that the end of the 1990s. Both nickel consumption and prices could be adversely affected in the future by environmental restrictions, increasing substitution of nickel-containing materials and the development of relatively low-grade lateritic nickel deposits.Up-to-date, in-depth research and analysis to make you an authority on the world's major nickel marketsPresenting a truly global picture, this report examines the current state of the nickel industry and the prospects for the future.Some key findings of this reportSome analysts predict that PAL technology could increase world nickel supply by 0.8 million tonnes per year within the next 10 years.Murrin Murrin, the largest of the three Australian "mega" projects, will be a major addition to Australia's nickel-producing capacity. Anaconda and Glencore have committed to expanding its total nickel production capacity to 115,000 tonnes per annum.Total world demand for primary nickel grew by 6.3% in 2000 to reach a record level of 1,115,000 tonnes.Demand for nickel in batteries is expected to soar, fuelled by increased consumption of both rechargeable batteries and new forms of automotive batteries.The future levels of production and consumption in Russia are expected to continue to have significant, but unpredictable, effects on world nickel prices.

  • Auction Theory

    • 1st Edition
    • Vijay Krishna
    • English
    Auction Theory is the standard reference on auctions and the first source of authoritative information about multi-unit auctions. The book develops the main concepts of auction theory from scratch in a self-contained and theoretically rigorous manner. It explores auctions and competitive bidding as games of incomplete information through detailed examinations of themes central to auction theory. This book complements its superb presentation of auction theory with clear and concise proofs of all results on bidding strategies, efficiency, and revenue maximization. It provides discussions on auction-related subjects, including private value auctions; the Revenue Equivalence Principle; auctions with interdependent values; the Revenue Ranking (Linkage) Principle; mechanism design with interdependent values; bidding rings; multiple object auctions; equilibrium and efficiency with private values; and nonidentical objects. This book is essential reading for graduate students taking courses on auction theory, the economics of information, or the economics of incentives, as well as for any serious student of auctions. It will also appeal to professional economists or business analysts working in contract theory, experimental economics, industrial organization, and microeconomic theory.

  • Foreign Exchange and Money Markets

    Theory, Practice and Risk Management
    • 1st Edition
    • Bob Steiner
    • English
    Floating rates, central-bank intervention, derivatives trading and the very high volumes of speculative and round-the-clock trading are just a few of the facets of the foreign exchange marketplace that make it a highly dynamic and volatile arena. This book addresses the practical applications of foreign currency trading and money market trading and provides comprehensive coverage of these markets.Coverage includes: What the instruments are How and why they are used - by both bank dealers and corporate end-users How the different instruments are linked one to another How you price them Structure of the market, EMU etc The range of risks arising from dealings in these instruments that affect banks and corporates How these risks are measured and managed

  • Handbook of Public Economics

    • 1st Edition
    • Volume 3
    • Martin Feldstein + 1 more
    • English
    The Field of Public Economics has been changing rapidly in recent years, and the sixteen chapters contained in this Handbook survey many of the new developments. As a field, Public Economics is defined by its objectives rather than its techniques and much of what is new is the application of modern methods of economic theory and econometrics to problems that have been addressed by economists for over two hundred years. More generally, the discussion of public finance issues also involves elements of political science, finance and philosophy. These connections are evidence in several of the chapters that follow. Public Economics is the positive and normative study of government's effect on the economy. We attempt to explain why government behaves as it does, how its behavior influences the behavior of private firms and households, and what the welfare effects of such changes in behavior are. Following Musgrave (1959) one may imagine three purposes for government intervention in the economy: allocation, when market failure causes the private outcome to be Pareto inefficient, distribution, when the private market outcome leaves some individuals with unacceptably low shares in the fruits of the economy, and stabilization, when the private market outcome leaves some of the economy's resources underutilized. The recent trend in economic research has tended to emphasize the character of stabilization problems as problems of allocation in the labor market. The effects that government intervention can have on the allocation and distribution of an economy's resources are described in terms of efficiency and incidence effects. These are the primary measures used to evaluate the welfare effects of government policy.

  • Mathematica for Microeconomics

    • 1st Edition
    • John Robert Stinespring
    • English
    Mathematica is the most widely available computational program available to potential buyers of the book. Mathematica for Microeconomics focuses on teaching economics, not computer programming and that it devotes some space to solving equations "by hand." The author has made sure that the book is compatible with the most frequently used microeconomics textbooks on the market today. This book is designed as a supplemental tool for courses in microeconomics and mathematical economics. It shows professors and students steps to solving microeconomics problems.Readers may begin reading at any chapter, and they may use the book as a "virtual instructor" to facilitate self-learning. They will recognize some of the popular problems, which have been taken from widely-used microeconomics texts.Also included is a CD-ROM containing the Mathematica® MathReader (a viewing program similar to Adobe Acrobat) and folders specific to each chapter of the book.

  • Handbook of Agricultural Economics

    Agricultural Production
    • 1st Edition
    • Volume 1A
    • Bruce L. Gardner + 1 more
    • English
    This first volume of the "Handbook of Agricultural Economics" presents work on topics central to the economics of agriculture: the quantitative representation of technology; market expectations; household production behaviour; consumer behaviour with uncertain quality and safety of goods; and issues of imperfect competition in food marketing. Volume 1A treats issues in agricultural production, representing the consequences of decades of work deepening and widening the original focus of agricultural economics on farm management. In addition to the theory and estimation of production and supply behaviour in agriculture, chapters are devoted to topics on which major advancements have been made: technological change; returns to agricultural research; the industrial structure of agriculture, land institutions and markets; and human capital and finance. Two chapters are further specialized to rural labour and household issues: migration and the role of women in developing countries.

  • Handbook of Agricultural Economics

    • 1st Edition
    • Volume 1AB
    • Bruce L. Gardner + 1 more
    • English
    This two volume set presents work on topics central to the economics of agriculture - the quantitative representation of technology, market expectations, household production behaviour, consumer behaviour with uncertain quality and safety of goods, and issues of imperfect competition in food marketing. Volume Ia treats issues in agricultural production, representing the consequences of decades of work deepening and widening the original focus of agricultural economics on farm management. In addition to the theory and estimation of production and supply behaviour in agriculture, chapters are devoted to topics on which major advancements have been made: technological change; returns to agricultural research; the industrial structure of agriculture; land institutions and markets; and human capital and finance. Two chapters are further specialized to rural labour and household issues: migration and the role of women in developing countries. Volume Ib deals with the economics of agricultural products after they leave the farm. Seven chapters explain developments in application of dual approaches in household economies, the industrial organization of food marketing, marketing margins between farm and retail prices, spatial price analysis, commodity storage and price stabilization, commodity futures and options markets, and the economics of food safety. Volumes Ia and Ib each follow their specialized chapters with a synthesis chapter that brings together and assesses the main themes and issues of the field, and volume Ib concludes with an overall synthesis of the state of and prospects for agricultural economics as applied economic science.

  • Handbook of Agricultural Economics

    Marketing, Distribution, and Consumers
    • 1st Edition
    • Volume 1B
    • Bruce L. Gardner + 1 more
    • English

  • Economics for Financial Markets

    • 1st Edition
    • Brian Kettell
    • English
    Successful trading, speculating or simply making informed decisions about financial markets means it is essential to have a firm grasp of economics. Financial market behaviour revolves around economic concepts, however the majority of economic textbooks do not tell the full story.To fully understand the behaviour of financial markets it is essential to have a model that enables new information to be absorbed and analysed with some predictive implications. That model is provided by the business cycle. 'Economics for Financial Markets' takes the reader from the basics of financial market valuation to a more sophisticated understanding of the actions that traders take which ultimately drives the volatility in the financial markets. The author shows traders, investment managers, risk managers and finance professionals how to distil the flow of information and show what needs to be concentrated on, covering topics such as:* Why are financial markets subject to economic fashions?* How has the New Economy changed financial market behaviour? * Does the creation of the euro fundamentally change the behaviour of the currency markets?

  • The International Potato Industry

    • 1st Edition
    • Joseph Guenthner
    • English
    This is the first book to provide a comprehensive overview of the world trade in one of the most important of our basic foodstuffs – potatoes. It covers everything from the history of the potato through to plant types and uses, production, consumption and demand, and pricing. It goes on to cover the trade in potatoes around the world. Since the different potato products flow in separate channels – fresh potatoes, frozen potatoes, seed potatoes and the snack and dehydrated trade – each is described individually. The international potato industry is a fascinating reference source which is essential reading not only for the growers, processors, retailers, marketers and others involved in the production chain but also for agricultural economists, fresh produce brokers and traders and national and international economic planning agencies.

  • Shareholder Value - A Business Experience

    • 1st Edition
    • RoyE. Johnson
    • English
    Shareholder Value presents a powerful and useful toolkit of market-based perspectives, analytic approaches, valuation techniques, and specific financial metrics for use in everyday business life. The author helps a broad spectrum of professionals understand the salient points and real world implications of a 'value management' movement which has taken hold in many corporations in the United States and around the world. This movement is being supported by some of the major institutional investors who influence financial markets. The main goal of 'Shareholder Value' is to help working professionals grasp the concept of value 'creators' and 'destroyers', along with the implications. He also provides tools to measure the success (or failure) of major strategic and operational initiatives and enables corporate managers to understand how shareholder value is created, and then directs behaviour toward 'value-based' planning and action. Although mainly aimed at the professional market, 'Shareholder Value' will also be of use to students of business and finance as it is intended to provide a comprehensive foundation for important elements of business strategy and acquisition valuation, corporate financial analysis, capital investments, corporate financing and economic value based metrics.AUTHOR'S REVIEW:When developing this book, I strived to achieve the following: Provide the finance professional and student of finance with a comprehensive template of shareholder value concepts and techniques - geared toward use in a corporate setting Give the non-financial professional an understanding of the underpinnings and behavioural aspects of economic value management Outline and provide details of an effective process for implementing a value-based financial performance system within a corporation ...And, combine learning with enjoyable reading by presenting technical material through a story. The "story" and "characters" are unique features of Shareholder Value - A Business Experience. The reader can get an appreciation of the environment surrounding value-based management, along with challenges that arise when transitioning from traditional "accounting" performance (where earnings and earnings per share reign supreme) to "economic" performance (where cash flow and return on investment are emphasized). Characters occupying operating and staff roles have been created to represent people that those working inside companies (large, medium and small) may encounter and, also, to invoke some humour. Insights into how to function in different corporate roles can be gained by following the characters through the story.

  • Managing Downside Risk in Financial Markets

    • 1st Edition
    • Frank A. Sortino + 1 more
    • English
    Quantitative methods have revolutionized the area of trading, regulation, risk management, portfolio construction, asset pricing and treasury activities, and governmental activity such as central banking to name but some of the applications. Downside-risk, as a quantitative method, is an accurate measurement of investment risk, because it captures the risk of not accomplishing the investor's goal.'Downside Risk in Financial Markets' demonstrates how downside-risk can produce better results in performance measurement and asset allocation than variance modelling. Theory, as well as the practical issues involved in its implementation, is covered and the arguments put forward emphatically show the superiority of downside risk models to variance models in terms of risk measurement and decision making. Variance considers all uncertainty to be risky. Downside-risk only considers returns below that needed to accomplish the investor's goal, to be risky.Risk is one of the biggest issues facing the financial markets today. 'Downside Risk in Financial Markets' outlines the major issues for Investment Managers and focuses on "downside-risk" as a key activity in managing risk in investment/portfolio management. Managing risk is now THE paramount topic within the financial sector and recurring losses through the 1990s has shocked financial institutions into placing much greater emphasis on risk management and control.Free Software Enclosed To help you implement the knowledge you will gain from reading this book, a CD is enclosed that contains free software programs that were previously only available to institutional investors under special licensing agreement to The pension Research Institute. This is our contribution to the advancement of professionalism in portfolio management.The Forsey-Sortino model is an executable program that:1. Runs on any PC without the need of any additional software.2. Uses the bootstrap procedure developed by Dr. Bradley Effron at Stanford University to uncover what could have happened, instead of relying only on what did happen in the past. This is the best procedure we know of for describing the nature of uncertainty in financial markets. 3. Fits a three parameter lognormal distribution to the bootstrapped data to allow downside risk to be calculated from a continuous distribution. This improves the efficacy of the downside risk estimates.4. Calculates upside potential and downside risk from monthly returns on any portfolio manager. 5. Calculates upside potential and downside risk from any user defined distribution.Forsey-... Source Code:1. The source code, written in Visual Basic 5.0, is provided for institutional investors who want to add these calculations to their existing financial services. 2. No royalties are required for this source code, providing institutions inform clients of the source of these calculations. A growing number of services are now calculating downside risk in a manner that we are not comfortable with. Therefore, we want investors to know when downside risk and upside potential are calculated in accordance with the methodology described in this book. Riddles Spreadsheet:1. Neil Riddles, former Senior Vice President and Director of Performance Analysis at Templeton Global Advisors, now COO at Hansberger Global Advisors Inc., offers a free spreadsheet in excel format.2. The spreadsheet calculates downside risk and upside potential relative to the returns on an index

  • Advances in Investment Analysis and Portfolio Management

    • 1st Edition
    • Volume 8
    • Cheng-Few Lee
    • English
    This research annual publication intends to bring together investment analysis and portfolio theory and their implementation to portfolio management. It seeks theoretical and empirical research manuscripts with high quality in the area of investment and portfolio analysis. The contents will consist of original research on: The principles of portfolio management of equities and fixed-income securities. The evaluation of portfolios (or mutual funds) of common stocks, bonds, international assets, and options. The dynamic process of portfolio management. Strategies of international investments and portfolio management. The applications of useful and important analytical techniques such as mathematics, econometrics, statistics, and computers in the field of investment and portfolio management. Theoretical research related to options and futures. In addition, it also contains articles that present and examine new and important accounting, financial, and economic data for managing and evaluating portfolios of risky assets.

  • An Introduction to Wavelets and Other Filtering Methods in Finance and Economics

    • 1st Edition
    • Ramazan Gençay + 2 more
    • English
    An Introduction to Wavelets and Other Filtering Methods in Finance and Economics presents a unified view of filtering techniques with a special focus on wavelet analysis in finance and economics. It emphasizes the methods and explanations of the theory that underlies them. It also concentrates on exactly what wavelet analysis (and filtering methods in general) can reveal about a time series. It offers testing issues which can be performed with wavelets in conjunction with the multi-resolution analysis. The descriptive focus of the book avoids proofs and provides easy access to a wide spectrum of parametric and nonparametric filtering methods. Examples and empirical applications will show readers the capabilities, advantages, and disadvantages of each method.

  • Transportation After Deregulation

    • 1st Edition
    • Volume 6
    • B Starr McMullen
    • English
    Several of the papers in this volume are concerned with assessing both the timing and the impacts of deregulation and regulatory reform in the US transportation sector. Of increasing interest is the importance of productivity growth and the role played by new technologies in a more competitive market environment. Four of the papers in this volume deal directly with these issues in the context of motor carriers and railroads, two sectors which have been operating under substantially reduced regulatory constraints for the past twenty years in the US. Although the financial condition of US railroads has improved since 1980, there is still some concern regarding their long run viability as private enterprises. Accordingly, one of the papers considers the potential for further reductions in railroad costs through transcontinental mergers, a controversial issue due to the small number of railroads that remain in the industry.

  • The International Timber Trade

    • 1st Edition
    • Tim Peck
    • English
    Wood and wood products are essential to large areas of the world economy and yet there has until now been no single definitive reference source to which those new to or requiring a strategic overview of the industry could turn for a comprehensive picture of the market chain from forest to consumer. The international timber trade provides a detailed overview of the entire timber and timber products business.It is arranged in three sections:Chapters 1 to 3 provide a background starting with an historical perspective, an overview of the worldwide forest resource and going to examine the properties of wood, types of products, trends in production and consumption and uses.Chapters 4,5 and 6 examine the role of wood industries and wood products in the global economy and provide an overview of world trade both by commodity groups and by country, as well as a detailed analysis of the main trading patterns and the trends, both at the inter-continental and inter-regional levels.The third section, chapters 7 to 10, looks at the structure of trade, market and market-related features, environmental factors such as forestry management, sustainability and certification, waste and recycling and energy and climate change, as well as offering an outlook for the industry in the 21st century.Written by one of the leading international authorities on the timber trade, The international timber trade is essential reading for a wide range of interested groups including managers in the timber industry and trade, the financial community with interests in the sector, academics and students in forestry management and related studies, government agencies and their advisers in helping to develop policies for the sector and international trade, and finally those working in international development organisations and in national and international non-governmental bodies.

  • Gas Trading Manual

    A Comprehensive Guide to the Gas Markets
    • 2nd Edition
    • David Long + 2 more
    • English
    Since its launch in 2001, Gas Trading Manual (GTM) has established itself as the leading information source on the international gas market. Compiled from the contributions of some of the most senior and widely respected figures in the trade, this edition provides detailed and accurate analysis on all aspects of this complex business from the geography of gas through to the markets, trading instruments, contracts, gas pricing, accounting and taxation. This edition further enhances its reputation as the indispensable practical companion for all those involved in the trading of gas.

  • Cross-Border Exposures and Country Risk

    Assessment and Monitoring
    • 1st Edition
    • Thomas Krayenbuehl
    • English
    The international financial system has come under strain several times in recent years, and analysis has shown that most crises originated from the risks built into cross-border exposures.Assessment and monitoring of cross-border exposures and country risk are essential activities for international lending agencies such as government bodies, banks, multinational corporations and other investors. Inadequate risk management could have a destabilising effect on both lender and borrower and could result in a major international financial crisis.This completely revised edition of Thomas E Krayenbuehl's classic handbook clearly shows how the various players can quantify and manage the complex factors involved in order to minimise the risk and avoid potentially catastrophic consequences. It provides both a rigorous analysis of the current situation and a guide to meeting the challenges of the future.Just some of the things you'll discover…How to succeed in cross-border lending and investment through good assessment, monitoring and hedging of country riskHow the Tequila and Asian crises came about, and the lessons learnedThe likelihood of future crises and the potential causesThe latest problems to beset the international financial systemThe recent developments in cross-border financingWhy the problem of contagion occurs between seemingly unrelated marketsThe enormous need for global capital to bring about sustainable economic development in the developing world, and the role of the major players in fulfilling itThe numerous factors that constitute and influence a specific country riskThe responsibilities of all the parties involved, from the IMF and the World Bank to the industrialised and developing nations, the regulators and the rating agenciesHow this study helps you: This lucid and authoritative handbook will help you to:Understand the problems facing the international financial systemIdentify and assess new investment opportunitiesOptimis... risk composition of cross-border lending or investmentMake sound decisions, minimise risk and achieve better outcomes

  • Transfer Pricing for Financial Institutions

    • 1st Edition
    • John Smullen
    • English
    Establishing and maintaining effective transfer pricing policies is a key challenge in today's increasingly competitive international financial services sector. There are numerous issues involved, from the requirements of shareholders and risk management to the allocation of capital. There are also many different techniques for establishing efficient transfer pricing systems within an organisation.This illuminating handbook provides a thorough introduction to transfer pricing and its uses within financial organisations, as well as a clear analysis of all the issues involved. Transfer pricing is so complex and variable that there can be no definitive blueprint for success: however, in this book John Smullen has provided a vital contribution to the debate and a much-needed clarification of this important topic.Some of the areas covered:What transfer pricing is and why it is usedWhy transfer prices are so appropriate for financial institutionsWhy each organisation needs to approach the introduction of transfer prices differentlyHow transfer pricing works in commercial organisationsThe different types of transfer priceSpecific analysis of the transfer pricing of funds, capital and derivativesHow to evaluate risk adjusted performance measuresThe complexities of estimating marginal costs and revenuesA framework for understanding the motivation of shareholders, managers and regulatorsHow transfer pricing works as part of management information strategyThis lucid and authoritative handbook will help you to:Understand the different techniques used in transfer pricingEstablish transfer prices in line with your organisation's strategy and objectivesMake sound decisions, minimise risk and achieve better outcomesThis is a book for people involved in raising and loaning funds in today's global markets who wants to understand the issues involved in transfer pricing and the techniques required. It will be used by banking, investment, insurance and other financial organisations worldwide.

  • Structured Trade and Commodity Finance in Emerging Markets

    What Can Go Wrong and How to Avoid It
    • 1st Edition
    • John MacNamara
    • English
    John MacNamara’s timely report looks at the principles and practice of structured trade and commodity finance deals and what can go wrong. It is supported by invaluable case study material.

  • The International Scrap and Recycling Industry Handbook

    • 1st Edition
    • Vincent Rich
    • English
    A definitive reference source to the scrap and recycling industry worldwide. It covers the major recyclable materials, from metals to plastics, paper and pulp, rubber and glass.For each material SRH provides an analysis of its physical characteristics, a description of its properties, products and end uses and information on production processes and technologies. In-depth coverage of the structure and operation of its scrap recovery and recycling sector is also included.Each material is treated in a consistent style so that the right information is quickly found and comparisons across the various materials are easy to make.SRH provides a comprehensive overview of the international scrap and recycling business at the turn of the millennium. Its clearly presented information, analysis and statistics bring the industry into sharp focus.Read SRH and find out about: How the recycling industry is developing; The economics of recycling and recovery; How markets are made and what drives them; The role of recycled materials; How regulation and legislation are affecting the future of the industry; The impact of environmental policies on the recycling industrySRH is essential reading for: Recovery and recycling industry executives; Professionals whose businesses participate in, supply or buy from, any part of the scrap and recycling industry; The finance community with investment interests in the metals or raw materials industries; Professionals concerned with the environmental impact of recycling and its regulation and legislation; Government policy makers, agencies and all those needing an introduction to the industry or a training resource for new entrants

  • Management Accounting and Strategic Human Resource Management

    • 1st Edition
    • John Innes + 1 more
    • English
    This research report investigates the role of management accounting (MA) in relation to strategic human resource management (SHRM). The two main objectives of the report were:1. The existing MA information provided within the context of the SHRM process.2. Managers' and accountants' views on what role MA information could play in SHRM in future.Includes in-depth case studies of four leading-edge companies (Royal Mail, Canada Post Corporation, TDG plc, Weycan). In summary the four case studies show that management accountants contribute in many different ways to SHRM such as:Providing information for SHRM planningAnalysing HR strategiesProviding information for HR decision-makingMeasu... HR performance (financial and non-financial)Benchm... HR performance

  • The Co-ordination of Mission Statements, Objectives, and Targets in UK Executive Agencies

    • 1st Edition
    • R. Eden + 1 more
    • English
    The main objective of this report is to review the rationale and difficulties of using a highly rational model of management in the public sector, with its focus on targeting, measuring and reporting performance.It also aims to identify the degree to which the mission statement, objectives and targets in the corporate and business plans of agencies are consistent, complete and co-ordinated.Finally it sets out to identify the perceptions of chief executives of agencies in Northern Ireland with reference to the development, use and impact of mission statements, objectives, targets and performance measures.

  • Benchmarking- Concept and Practice with Particular Reference to the Finance Function

    • 1st Edition
    • Ghobadian + 2 more
    • English
    Benchmarking is simply an attempt to learn from the experiences of other organisations with superior performance and initiate improvement programmes. Although a simple concept, benchmarking is not simple to implement. It requires careful planning, allocation of resources and creation of conditions conducive to the implementation of the lessons learnt to make it an effective management tool.The report will help practitioners with no experience of benchmarking to develop a clear understanding of the concept. It will also provide them with an overview of practical aspects of benchmarking and examples of its successful application.

  • Data Warehousing and the Management Accountant

    • 1st Edition
    • Ian Cobb
    • English
    This report details the findings from a questionnaire survey and a field study of data warehousing and its implications for management accountants and management accounting.The report suggests that management accountants are actively involved in shaping the direction of data warehousing in their organizations.The contents includes a brief discussion on managers' information needs, an overview of the data-warehousing process, the findings of the survey of CIMA members, a detailed description of the experiences of data warehousing at ten company sites and finally some conclusions are provided.

  • The International Spirits Industry

    • 1st Edition
    • John Wakely
    • English
    Although consumption of spirits on a global scale is vast, the spirits industry derives its profits from a relatively small number of countries and product lines. This valuable book provides an overview of all aspects of the industry, covering all major categories of spirits, and contains a wealth of information on trading statistics, regulations and consumption patterns. It discusses the challenges facing the giant companies, profiling the leading companies in detail, and assesses whether their structure is appropriate to long-term success in the industry.The international spirits industry offers the most comprehensive picture currently available of the dynamics and structure of this fascinating business and shows:How spirits fit into the global business in alcoholic beveragesWhy the image and popular perception of the alcohol business is so importantHow health concerns are likely to affect the future of the businessHow spirits are produced, regulated, distributed and taxedHow consumption patterns are changing and why women are becoming more important to the industryWhat strategies companies can adopt for building brandsHow profitable the industry is and how the major players are adapting themselves to new challenges such as the InternetDespite the age of alcohol production, the business is in a state of flux with little agreement as to its future. This book provides a valuable insight into this changeable situation and is a unique resource for analysts and economists and all those involved in the production, distribution and sales of spirits worldwide.

  • Bond and Money Markets: Strategy, Trading, Analysis

    • 1st Edition
    • Moorad Choudhry
    • English
    Bond and Money Markets: Strategy, Trading, Analysis explains and analyses all aspects of the bond and money markets and is both an introduction for newcomers and an advanced text for experienced market practitioners and graduate students. Those with experience of the industry at all levels will find the book invaluable as a standard reference work.The book features coverage of: Government and Corporate bonds, Eurobonds, callable bonds, convertibles Asset-backed bonds including mortgages and CDOs Derivative instruments including bond futures, swaps, options, structured products, and option valuation models Interest-rate risk, duration analysis, convexity, and the convexity bias The money markets, repo markets, basis trading, and asset / liability management Term structure models, estimating and interpreting the yield curve Portfolio management, including total return framework, portfolio strategies, and constructing bond indices and valuable insight into: Trading and hedging strategy Charting and technical analysis The latest market developments, such as value-at-risk, and credit derivatives Emerging markets and the benefits of international investment The Bond and Money Markets: Strategy, Trading, Analysis is aimed at a wide readership including bond salespersons, traders, corporate financiers and graduate trainees, as well as risk managers, operations professionals and business analysts. Other market participants including fund managers, corporate treasurers, management consultants, regulators and financial journalists will also find the content useful.

  • An Introduction to High-Frequency Finance

    • 1st Edition
    • Ramazan Gençay + 4 more
    • English
    Liquid markets generate hundreds or thousands of ticks (the minimum change in price a security can have, either up or down) every business day. Data vendors such as Reuters transmit more than 275,000 prices per day for foreign exchange spot rates alone. Thus, high-frequency data can be a fundamental object of study, as traders make decisions by observing high-frequency or tick-by-tick data. Yet most studies published in financial literature deal with low frequency, regularly spaced data. For a variety of reasons, high-frequency data are becoming a way for understanding market microstructure. This book discusses the best mathematical models and tools for dealing with such vast amounts of data.This book provides a framework for the analysis, modeling, and inference of high frequency financial time series. With particular emphasis on foreign exchange markets, as well as currency, interest rate, and bond futures markets, this unified view of high frequency time series methods investigates the price formation process and concludes by reviewing techniques for constructing systematic trading models for financial assets.

  • Elsevier's Economics Dictionary

    In English, French, Spanish, Italian, Portuguese and German
    • 1st Edition
    • J.L. De Lucca
    • English
    This dictionary contains terms covering the following fields and subfields: Business economics, economic development and growth, economic history, economic systems, economic thought, financial economics, general economics, industrial organization, international economics, labor and demographic economics, law and economics, macroeconomics and monetary economics, mathematical an quantitative methods, microeconomics, natural resource economics, public economics, social economics, urban, rural and regional economics, welfare.The dictionary is supplemented by an exhaustive list of abbreviations in several languages. It will be an essential reference tool for business people operating within a new economic world order, who wish to understand global trade relations. The wide variety of economic terms presented makes this dictionary unique in the field.

  • The Fertilizer Industry

    • 1st Edition
    • Murray Park
    • English
    This is the first comprehensive guide to the workings of an industry of crucial importance to the world’s agricultural economy. Published in association with the International Fertilizer Industry Association, The fertilizer industry looks at the structure of the industry for all the key categories of fertilizer products including nitrogen, phosphate and potash fertilizers. It covers their production and end use, their implications for the environment and considers the patterns and future of the international trade.

  • Ocean Circulation and Climate

    Observing and Modelling the Global Ocean
    • 1st Edition
    • Volume 103
    • English
    The book represents all the knowledge we currently have on ocean circulation. It presents an up-to-date summary of the state of the science relating to the role of the oceans in the physical climate system.The book is structured to guide the reader through the wide range of World Ocean Circulation Experiment (WOCE) science in a consistent way. Cross-references between contributors have been added, and the book has a comprehensive index and unified reference list.The book is simple to read, at the undergraduate level. It was written by the best scientists in the world who have collaborated to carry out years of experiments to better understand ocean circulation.

  • Balance Sheet Structures

    • 1st Edition
    • Anthony N Birts
    • English
    Balance sheet structures is a practical and comprehensive guide to balance sheet issues. The book begins by covering the financial theory necessary for an understanding of the debt versus equity issue and then focuses on real world issues by discussing answers to the questionsWhy do companies have balance sheets structured as they are?Do industry differences rule the structure?Does a multinational differ greatly from a domestic company?Does management's attitude to risk have any effect?These questions are looked at through a series of case studies, mostly written by those who are responsible for the balance sheet structures they are living with. The book also aims to help the reader understand the interrelationship between debt and equity in terms of the overall value of the company and the impact on the company's cost of capital. It covers the various elements that make up the balance sheet, and the costs and benefits that attach to each and goes on to analyse the interrelationship between the business that the company is in, the maximisation of cash flows and the balance sheet that matches the business reality.Balance sheet structures is an invaluable and concise guide intended for a wide range of interested parties, treasurers, bankers, directors and students of business and economics.

  • Mergers, Acquisitions, and Other Restructuring Activities

    An Integrated Approach
    • 1st Edition
    • Donald DePamphilis
    • English
    Most books on mergers and acquisitions focus on process management, human resource management, or the financial aspects of the deal. This book brings together the essential elements of each domain, including subjects that are often overlooked or treated only superficially by other texts. These subjects include post-merger integration, business alliances, deal structuring and strategies, financial modeling and simulation, assumptions-driven planning, and valuing intellectual property. This book is unique in that M&A activity is discussed as a series of interdependent activities and in the context in which each activity actually occurs. While intended for students in mergers and acquisitions, corporate restructuring, business strategy, industrial organization, and entrepreneurship courses at both the MBA and undergraduate level, this text has broad market appeal. The material has worked quite effectively in both executive development and training programs. The book also has substantial appeal for those who are hoping to become or who are actively pursuing careers as financial analsyts, chief financial officers, corporate treasurers, operating managers, investment bankers, business brokers, portfolio mangers, investors, as well as corporate development and strategic planning managers. Others likely to have an interest include bank lending officers, venture capitalists, business appraisers, actuaries, government regulators and policy makers, and entrepreneurs.The generous use of practical, timely, and diverse examples and contemporary (including e-commerce) business cases with solutions makes the text suitable for distance learning, self-study, as well as for large lecture focused courses. The book presumes only a basic knowledge of accounting and finance.

  • Research in Social Stratification and Mobility

    • 1st Edition
    • Volume 18
    • Kevin T Leicht
    • English
    This text reflects the growing diversity of perspectives, methods and insights currently used in social stratification research. Authors discuss the following broad themes from an international perspective: the changing real and symbolic boundaries of social stratification; who benefits from rapidly changing markets; immigration, marginalization and exclusion; and modelling occupational mobility. The contributions demonstrate the changing nature of social stratification systems in today's global and fragmented economy.

  • Advances in Investment Analysis and Portfolio Management

    • 1st Edition
    • Volume 7
    • Cheng-Few Lee
    • English

  • Measurement Error and Latent Variables in Econometrics

    • 1st Edition
    • Volume 37
    • T. Wansbeek + 1 more
    • English
    The book first discusses in depth various aspects of the well-known inconsistency that arises when explanatory variables in a linear regression model are measured with error. Despite this inconsistency, the region where the true regression coeffecients lies can sometimes be characterized in a useful way, especially when bounds are known on the measurement error variance but also when such information is absent. Wage discrimination with imperfect productivity measurement is discussed as an important special case. Next, it is shown that the inconsistency is not accidental but fundamental. Due to an identification problem, no consistent estimators may exist at all. Additional information is desirable. This information can be of various types. One type is exact prior knowledge about functions of the parameters. This leads to the CALS estimator. Another major type is in the form of instrumental variables. Many aspects of this are discussed, including heteroskedasticity, combination of data from different sources, construction of instruments from the available data, and the LIML estimator, which is especially relevant when the instruments are weak. The scope is then widened to an embedding of the regression equation with measurement error in a multiple equations setting, leading to the exploratory factor analysis (EFA) model. This marks the step from measurement error to latent variables. Estimation of the EFA model leads to an eigenvalue problem. A variety of models is reviewed that involve eignevalue problems as their common characteristic. EFA is extended to confirmatory factor analysis (CFA) by including restrictions on the parameters of the factor analysis model, and next by relating the factors to background variables. These models are all structural equation models (SEMs), a very general and important class of models, with the LISREL model as its best-known representation, encompassing almost all linear equation systems with latent variables. Estimation of SEMs can be viewed as an application of the generalized method of moments (GMM). GMM in general and for SEM in particular is discussed at great length, including the generality of GMM, optimal weighting, conditional moments, continuous updating, simulation estimation, the link with the method of maximum likelihood, and in particular testing and model evaluation for GMM. The discussion concludes with nonlinear models. The emphasis is on polynomial models and models that are nonlinear due to a filter on the dependent variables, like discrete choice models or models with ordered categorical variables.

  • Return Distributions in Finance

    • 1st Edition
    • Stephen Satchell + 1 more
    • English
    Quantitative methods have revolutionised the area of trading, regulation, risk management, portfolio construction, asset pricing and treasury activities, and governmental activity such as central banking. One of the original contributions in this area is the classic by Cootner entitled 'The Random Nature of Stock Market Prices'. This work investigated the statistical properties of asset prices and was one of the first works to investigate this area in a rigorous manner. Much has happened in this field in the last 35 years and 'Return Distributions in Finance' contains much new information that reflects this huge growth. The authors combined experience reflects not only the new theory but also the new practice in this fascinating area. The rise of financial engineering now allows us to change the nature of asset returns to whatever pattern we desire, albeit at a cost. Benefits and costs can only be understood if we understand the underlying processes. 'Return Distributions in Finance' allows us to gain that understanding.

  • Gallium Arsenide, Electronics Materials and Devices. A Strategic Study of Markets, Technologies and Companies Worldwide 1999-2004

    • 3rd Edition
    • R. Szweda
    • English
    The third edition of this highly respected market study provides a detailed insight into the global developments of the GaAs industry to 2004, and the implications for both suppliers and users of GaAs technology.The report has been completely revised and updated with a new chapter added on competitive technologies. The report also supplies market analysis by component type and application sectors.For a PDF version of the report please call Tina Enright on +44 (0) 1865 843008 for price details.

  • Financial Performance

    • 1st Edition
    • Rory Knight + 1 more
    • English
    Financial Performance presents the foundation concepts underlying the Senior Executive Programmes the Authors have taught together and separately over the last 15 years in Europe, Asia and North America.These programmes includeThe Oxford Advanced Management ProgrammeThe Oxford Senior Executive Finance ProgrammeThe INSEAD Advanced Management ProgrammeThe IMI, Geneva, Advanced Management ProgrammeThe Harvard Advanced Management ProgrammeThe Oxford International Executive Programme, SingaporeThe IMI International Finance Programme, Singapore The book is intended as a reference manual as well as a textbook and will be of value to anyone with an interest in financial performance - particularly senior executives. The developments in modern finance over the last two decades have considerable implications for the way senior executives think about the finance discipline. It is no longer enough to have a rudimentary knowledge of basic finance and a heavy reliance on financial specialists. CEOs of course need excellent financial professionals - however they need to go beyond this and provide strategic leadership. This requires a conceptual framework for dealing with financial matters. This book provides a description of the underlying ideas and will be of value to anyone with an interest in financial performance - particularly senior executives. This book revolves around the concept of value and it is organised into two parts.Part I Performance MeasurementConsists of three chapters, all of which focus on the real and fairly complex set of financial statements of DaimlerChrysler AG. The first two chapters provide a detailed guided tour of the financial statements which deconstruct the complexity and then reconstruct the financials to provide a clearer base for analysis. These chapters have been arranged to deal with each line item of financial statements which have been highlighted in such a way to allow the reader to treat the materials as a reference as well as a sequential read. Chapter three presents a framework for evaluating financial health and introduces a cash flow based model for understanding the short and medium term constraints on a firm's growth. This exposition revolves around the concept of sustainable growth. Part 2 ValuationIn the second part of the book chapter 4 introduces the cost of capital concept followed by chapter 5 which provides a general source of reference for valuation and a variety of difference applications.Chapter 6 concludes the book with a review of concept of shareholder value from a European perspective.Rory Knight MA(Oxon), MCom, PhD, CADean (Emeritus), Templeton College, University of Oxford For the last five years Rory has been Dean of Templeton College, the University of Oxford's business college. During this time he led the Oxford Advanced Management Programme and he created the Oxford Senior Executive Finance Programme. He has considerable experience in business and management development. He is actively involved in briefing the senior executives of leading companies on issues in Finance and Strategy. Prior to coming to Oxford Dr Knight was the deputy director of a foundation within the Swiss National Bank (SNB) and previously a Professor in Finance at IMI, Geneva & IMD, Lausanne.Marc Bertoneche MA, MBA, DBA, PhdVisiting Professor, Harvard Business School Marc is a Professor in Business Administration at the University of Bordeaux and has been on the faculty at INSEAD, the European Institute of Business Administration in Fontainebleau France for more than twenty years. His areas of interest include corporate and financial strategy, mergers and acquisitions, venture capital, financial markets, corporate ownership and governance, risk management and international finance. He is currently visiting professor at the Harvard Business School. Marc and Rory have worked as a team for over fifteen years in teaching senior executives and academic research.

  • Inflation, Employment and Business Fluctuations

    • 1st Edition
    • Volume 35C
    • Bozzano G Luisa
    • English
    A Textbook on Macroeconomic Knowledge and Analysis

  • Operational Risk and Resilience

    Understanding and Minimising Operational Risk to Secure Shareholder Value
    • 1st Edition
    • Chris Frost + 3 more
    • English
    Well publicised failures in risk management have appeared with shocking frequency over the past few years. Affected firms can suffer significant commercial damage or even bankruptcy as a result. Only now is there a growing realisation that risk management is a key management responsibility. This book will help turn your firm into a 'risk aware' organization which will be able to avoid catastrophic loss. It will also enable senior management to make better strategic and operational decisions, thanks to an informed understanding of business hazards. Case studies from a wide cross section of different firms and markets are used to explain how to define, analyse and control operational risk.

  • The International Wine Trade

    • 2nd Edition
    • Pierre Spahni
    • English
    This is the second edition of the definitive analysis of the international wine trade. This new edition focuses on individual trade flows across the major importing and exporting countries, examines the increasing role of food retailers in wine selling and looks for the future trends which will shape the industry in the new millennium.The book begins by examining technical factors in the wine trade giving rise to differences in pricing and considers how wines' characteristics help to position the final products. It shows how trends in consumption are changing in different ways in the traditional and Anglo-Saxon markets and explains the effects of developments in international trade such as the role of trade barriers.The heart of the book profiles the ten major wine importing countries and considers:Trends in the consumption of alcoholic drinksWine market and import patternsThe configuration of import and distribution channelsEach country's trade policy with detailed comparisons between themThe book then goes on to consider the wine trade from the exporters point of view and describes:The challenge posed by New World producers to those based in Western EuropeThe influence of the previously planned economies of the former Soviet blocThe role of the EU and the likely effect of further European integrationThe influence of tariff schedules and the GATT negotiationsThis edition will be essential reading for all wine trade professionals including: wine producers, importers and exporters, negocients, co-operatives and regional economic development agencies, and wine merchants and retailers.

  • The Zinc Industry

    • 1st Edition
    • Ken Hewitt + 1 more
    • English
    This looseleaf industry handbook provides a comprehensive and practical guide to the workings of the international zinc industry. Concise and lucid, it considers trading techniques and strategies for different market users and includes useful appendices on zinc specifications and the world’s major zinc and lead mines. It is essential for all those involved in the industry.

  • Corporate Bonds and Structured Financial Products

    • 1st Edition
    • Moorad Choudhry
    • English
    This book is a detailed account of the instruments that are used in the corporate bond markets, from conventional "plain vanilla" bonds to hybrid instruments and structured products. There is background information on bond pricing and yield, as well as a detailed look at the yield curve. The book covers the full set of instruments used by companies to raise finance, and which are aimed at a wide range of investors. It also discusses the analysis of these instruments. Topics covered include:*Bond basics*The yield curve*Callable bonds*Convertible bonds*Eurobonds*Warr... paper*Corporate bonds credit analysis*Securitisat... securities*Mortgage-... securities*Collatera... Debt Obligations*Syntheti... CDOsWritten by one of the leading names in the fixed income markets today, this book should prove to be an invaluable reference guide for all those with an interest in corporate bond markets, whether as practitioners, consultants or researchers.

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