CATLOUGE OF BANKING & FINANCE BOOKS by UNIQUE …CATLOUGE OF BANKING & FINANCE BOOKS by UNIQUE BOOK...

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CATLOUGE OF BANKING & FINANCE BOOKS by UNIQUE BOOK HOUSE

An Introduction to Banking: Liquidity Risk and Asset-Liability Management Moorad Choudhry, Oldrich Masek ISBN: 978-0-470-68725-3 Paperback 382 pages March 2011 £34.99 / €42.00 Description

"A great write-up on the art of banking. Essential reading for anyone working in finance." Dan Cunningham, Senior Euro Cash & OBS Dealer, KBC Bank NV, London "Focused and succinct review of the key issues in bank risk management." Graeme Wolvaardt, Head of Market Risk Control, Europe Arab Bank plc, London The importance of banks to the world's economic system cannot be overstated. The foundation of consistently successful banking practice remains efficient asset-liability management and liquidity risk management. This book introduces the key concepts of banking, concentrating on the application of robust risk management principles from a practitioner viewpoint, and how to incorporate these principles into bank strategy. Detailed coverage includes: Bank strategy and capital Understanding the yield curve Principles of asset-liability management Effective liquidity risk management The role of the bank ALM committee Written in the author's trademark accessible style, this book is a succinct and focused analysis of the core principles of good banking practice Table Of Contents

Foreword. Preface. About the author. 1 BANK BUSINESS AND CAPITAL. Banking business. Interest income. Fees and commissions. Trading income. Costs. Capital markets. Scope of banking activities. Capital. Banking and trading books. Financial statements and ratios. The balance sheet. Profit and loss report. References. 2 THE MONEY MARKETS. Introduction. Securities quoted on a yield basis. Money market deposits. Certificates of deposit. CD yields. Securities quoted on a discount basis.

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Treasury bills. Banker's acceptances. Eligible banker's acceptance. Commercial paper. Commercial paper programmes. Commercial paper yields. Asset-backed commercial paper. Repo. Definition. The classic repo. Examples of classic repo. The sell/buyback. Examples of sell/buyback. Repo collateral. Legal treatment. Margin. Variation margin. Currencies using money market year base of 365 days. 3 THE YIELD CURVE. Importance of the yield curve. Using the yield curve. Yield-to-maturity yield curve. Analysing and interpreting the yield curve. Theories of the yield curve. The zero-coupon yield curve. Example calculation illustrations. Forward rate calculation for money market term. Understanding forward rates. Bibliography. 4 INTRODUCTION TO TRADING AND HEDGING. Trading approach. The yield curve and interest rate expectations. Credit intermediation by the repo desk. Specials trading. Matched book trading. Interest-rate-hedging tools. Interest rate futures. Forward rate agreements. FRA mechanics. Overnight interest rate swaps. Credit risk hedging. Understanding credit risk. Credit rating rationale. Credit limit setting and rationale. Loan origination process standards. Bibliography. 5 ASSET AND LIABILITY MANAGEMENT I. Basic concepts. Liquidity gap. Managing liquidity. The liquidity ratio. The liquidity portfolio. 6 ASSET AND LIABILITY MANAGEMENT II. Introduction. Basic concepts. Interest rate risk and source. The banking book. The ALM desk.

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Traditional ALM. Developments in ALM. Liquidity and interest rate risk. The liquidity gap. Gap risk and limits. Liquidity management. Interest rate gap. Portfolio-modified duration gap. Critique of the traditional approach. The cost of funding. Securitization. The securitization process. Benefits of securitization. Generic ALM policy for different-sized banks. NPV and value-at-risk. Bibliography. 7 ASSET AND LIABILITY MANAGEMENT III: THE ALCO. ALCO policy. ALCO reporting. 8 BANK LIQUIDITY RISK MANAGEMENT. The liquidity policy statement. Principles of bank liquidity risk management. Measuring bank liquidity risk: key metrics. Internal funding rate policy. Conclusion. 9 A SUSTAINABLE BANK BUSINESS MODEL: CAPITAL, LIQUIDITY AND LEVERAGE. The new bank business model. Liquidity risk management. The liquid asset buffer. Conclusions and recommendations. References. 10 BANK REGULATORY CAPITAL. Banking regulatory capital requirements. Capital adequacy requirements. A primer on Basel II. Impact on specific sectors. Basel III. Bibliography. Appendix A Summary of bank product line. Appendix B Financial markets arithmetic. Appendix C List of abbreviations and acronyms. Index. Author Information Dr Moorad Choudhry is Managing Director, Head of Business Treasury, Global Banking and Markets, at The Royal Bank of Scotland. He is Visiting Professor at London Metropolitan Business School, Visiting Research Fellow at the ICMA Centre, University of Reading, Associate Research Fellow at the School of Information Systems, Computing and Mathematics, Brunel University, a Fellow of the Chartered Institute for Securities and Investment, and a Fellow of the ifs-School of Finance.

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The VAR Implementation Handbook By Greg N. Gregoriou Date: February 19, 2009 Format: Hardback, 624 pages ISBN: 007161513X / 9780071615136 Your Price: 95.00

Main Description

For investors, risk is about the odds of losing money, and Value at Risk (VaR) is grounded in that common-sense fact. VAR modeling answers, “What is my worst-case scenario?” and “How much could I lose in a really bad month?” However, there has not been an effective guidebook available to help investors and financial managers make their own VaR calculations--until now. The VaR Implementation Handbook is a hands-on road map for professionals who have a solid background in VaR but need the critical strategies, models, and insights to apply their knowledge in the real world. Heralded as “the new science of risk management,” VaR has emerged as the dominant methodology used by financial institutions and corporate treasuries worldwide for estimating precisely how much money is at risk each day in the financial markets. The VaR Implementation Handbook picks up where other books on the subject leave off and demonstrates how, with proper implementation, VaR can be a valuable tool for assessing risk in a variety of areas-from equity to structured and operational products. This complete guide thoroughly covers the three major areas of VaR implementation--measuring, modeling risk, and managing--in three convenient sections. Savvy professionals will keep this handbook at their fingertips for its: Reliable advice from 40 recognized experts working in universities and financial institutions around the world Effective methods and measures to ensure that implemented VaR models maintain optimal performance Up-to-date coverage on newly exposed areas of volatility, including derivatives Real-world prosperity requires making informed financial decisions.The VaR Implementation Handbook is a step-by-step playbook to getting the most out of VaR modeling so you can successfully manage financial risk.

Table of contents

1. Efficient VaR 2. Corporate VaR 3. Operational Value-at-Risk 4. VaR Performance Criterion (VPC) 5. Cross-Sectional Differences 6. Advanced Approaches to Calculation 7. Computational Aspects of VaR 8. Bayesian Tail Probabilities 9. Modeling Portfolio Risks 10. Computation of Economic Capital 11. High-Dimensional Portfolios 12. Measuring Portfolio Risks in Venture Capital 13. Evaluation of Sectors Traded on the ISE with VaR Analysis 14. Risk Measures in Portfolio Optimization 15. Modeling Parameter Uncertainty 16. Employing VaR Management Systems 17. Aggregating and Combining Ratings 18. A Critique of Value-at-Risk Models 19. Credit Derivatives 20. Modeling risk in VAR Estimates 21. Heterogeneous Investments Horizons 22. How Investors Face Financial Risk Loss Aversion and Wealth Allocation 23. Dynamical Models for the Value at Risk

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CATLOUGE OF BANKING & FINANCE BOOKS by UNIQUE BOOK HOUSE The VaR Modeling Handbook: Practical Applications in Alternative Investing, Banking, Insurance, and Portfolio Management By: Greg N. Gregoriou Date: May 12, 2009 Format: Hardback, 416 pages ISBN: 0071625151 / 9780071625159 Your Price: 95.00 Main description

Value-at-Risk (VaR) is a powerful tool for assessing market risk in real time— a critical insight when making trading and hedging decisions. The VaR Modeling Handbook is the most complete, up-to-date reference on the subject for today’s savvy investors, traders, portfolio managers, and other asset and risk managers. Unlike market risk metrics such as the Greeks, or beta, which are applicable to only certain asset categories and sources of market risk, VaR is applicable to all liquid assets, making it a reliable indicator of total market risk. For this reason, among many others, VaR has become the dominant method for estimating precisely how much money is at risk each day in the financial markets. The VaR Modeling Handbook is a profound volume that delivers practical information on measuring and modeling risk specifically focused on alternative investments, banking, and the insurance sector. The perfect primer to The VaR Implementation Handbook(McGraw- Hill), this foundational resource features

• The experience of 40 internationally recognized experts • Useful perspectives from a wide range of practitioners, researchers, and academics • Coverage on applying VaR to hedge fund strategies, microcredit loan portfolios, and economic capital

management approaches for insurance companies Each illuminating chapter in The VaR Modeling Handbook presents a specific topic, complete with an abstract and conclusion for quick reference, as well as numerous illustrations that exemplify covered material. Practitioners can gain in-depth, cornerstone knowledge of VaR by reading the handbook cover to cover or take advantage of its user-friendly format by using it as a go-to resource in the real world. Financial success in the markets requires confident decision making, and The VaR Modeling Handbook gives you the knowledge you need to use this state-of-the-art modeling method to successfully manage financial risk. Table of contents

Section 1: Alternative Investments And Optimization 1: Asset Allocation For Hedge FundStrategies 2: Estimating Value-At-Risk OfInstitutional Portfolios With Alternative Asset Classes 3: Optimal Allocations Based On The Modified VaR vs. Utility-Based Risk Measure 4: Using VaR For Optimizing AndHedging Portfolios Section 2: Banking and Insurance Sector Applications 5: Capital Standards And Risk Alignment In Banking Firms 6: Risk Return Optimization 7: A Practitioner's Critique OfValue-At-Risk Models 8: VaR For A MicrocreditLoan Portfolio 9: Allocation Of Economic CapitalIn Banking: 10: Capital Requirement Calculation Of A General InsuranceUndertaking 11: Economic Capital ManagementFor Insurance Companies 12: Solvency II

Author comments

Greg N. Gregoriou is professor of finance in the School of Business and Economics at State University of New York (Plattsburgh). He has published 25 books and is coeditor for the peer-reviewed Journal of Derivatives and

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Hedge Funds and editorial board member for theJournal of Wealth Management, Journal of Risk Management in

Financial Institutions, and Brazilian Business Review.

Back cover copy

The most complete guide to measuring and modeling risk in the real world “The problems tackled in the papers collected here are both important and subtle, and they cover a surprisingly broad range of issues.” —Barry Schachter, Director of Quantitative Resources, Moore Capital Management “The use of VaR as a risk metric was adopted globally under the 1996 Basel II amendment. Much interest and research in this broad field of risk management followed on its properties as a risk metric and portfolio optimizer. A ttention was focused on tail risk and CVaR as extensions to the approach. The latest research on these issues is brilliantly captured in this volume edited by Gregoriou.” —Professor D.E. Allen, School of Accounting, Finance and Economics, Edith Cowan University “I would highly recommend this book to everyone looking for a comprehensive and up-to-date synthesis of research in risk management.” —Dr. Bartosz Gebka, Professor of Finance, Newcastle University Business School “This exquisitely edited volume shows a vast array of applications . . . ranging from alternative investments to Solvency II , and also introduces advanced calculation models that go beyond the standard value-at-risk approach and, hence, highlights how to deal with the caveats of this measure.” —Dr. Dieter Kaiser, Director of Hedge Funds, Feri Institutional Advisors GmbH “This timely book contains new research in the vast area of value-at-risk, and will be invaluable for sophisticated and institutional investors and money managers.” —Fabrice Douglas Rouah, Vice President and Senior Quantitative Analyst, Enterprise Risk Management, State Street Corporation

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Managing Value-Based Organizations It’s Not What You Think Bruce Hoag , Cary L. Cooper Bruce Hoag, former Managing Director, Performance Advantage Ltd, Cambridgeshire, UK and Cary L. Cooper CBE, Distinguished Professor of Organizational Psychology and Health, Lancaster University, UK

2006 320 pp Hardback 978 1 84064 981 9

Hardback £83.00

Description ‘An insightful and enjoyable book. Bruce Hoag and Cary Cooper first provide a concise history of work, organizations and management highlighting what has changed over time and why. Then emphasizing the value-based organization – an organization committed to delivering value to all of its stakeholders – they tackle the “so what” providing practical advice for organizations, managers and employees. It will make you think.’ – Ronald J. Burke, York University, Canada Managing Value-Based Organizations argues that those who fail to understand management history are destined to repeat it. Research has shown that despite the prodigious output of management books, managers still have little idea why there is so much change in the world of work or what they can do about it. Most, it seems, are still waiting for the dust to settle, expecting instead that in the near future they will be able to go back to doing things the way they have always done them. Contents Contents: Preface Part I: Organizational Theory 1. Organizational Evolution 2. Traditional Organizations 3. The Horizontal Revolution 4. The Value-Based Organization Part II: The Traditional Hybrid 5. The Myth of Rightsizing 6. The Myth of Competitive Advantage 7. The Myth of the Balanced Scorecard Part III: Surviving the Upheaval 8. Implications for Organizations 9. Implications for Managers 10. Implications for Employees 11. Implications for Human Resources Managers Bibliography Index Further information ‘This is a well researched and thoroughly readable work. As well as giving a comprehensive and clear history of organisations and their evolving forms, it manages to explain the implications of this to practitioners today. In particular the entire discussion of the value based organisation and what this means for the exploitation of knowledge, organisational learning and innovation are relevant to younger, knowledge based organisations. The world of work has changed for ever in the increasingly knowledge based economy and the way we manage and lead has to change with it. This book provides a good insight to those that need to lead the change.’ – Bill Parsons, ARM Holdings plc ‘A fascinating look at why organisations are the way they are and how we can improve them. This well-written and accessible book offers intelligence, insight as well as practical advice. This is essential reading for organisational theorists as well as practitioners.’ – Binna Kandola, Senior Partner, Pearn Kandola, UK ‘Hoag & Cooper’s work is an important addition to our understanding of organizations. I think this book will be of wide interest not only to the academic and consultative community but also business practitioners that want to better understand the organizations they operate in. I appreciate the historical and systemic context they have been able to provide for the reader. Its informative style make it a must read this year.’

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– Robert Kovach, RHR International Company, UK ‘Academics and practitioners will find that this book presents a novel theoretical perspective. It illustrates that many features of current practice, contrary to many gurus, are consistent with the status quo that highly limits progress. For example, the authors describe what they call the myths of rightsizing, competitive advantage and balanced scorecard. The authors present extensive illustrations of how their value-based perspectives can lead to new policies and practices in managing organizations.’ – Chris Argyris, Harvard Business School, US ‘An insightful and enjoyable book. Bruce Hoag and Cary Cooper first provide a concise history of work, organizations and management highlighting what has changed over time and why. Then emphasizing the value-based organization – an organization committed to delivering value to all of its stakeholders – they tackle the “so what” providing practical advice for organizations, managers and employees. It will make you think.’ – Ronald J. Burke, York University, Canada Managing Value-Based Organizations argues that those who fail to understand management history are destined to repeat it. Research has shown that despite the prodigious output of management books, managers still have little idea why there is so much change in the world of work or what they can do about it. Most, it seems, are still waiting for the dust to settle, expecting instead that in the near future they will be able to go back to doing things the way they have always done them. This highly innovative and accessible book takes a historical look at how the organization and management of work has changed since before the Industrial Revolution and uses this as a basis to explain: • how and why organizations and management behavior have evolved over the past 500 years • the importance of understanding how organizations are changing today and what they will become in the future • what new organizations will look like and how managers will have to change to be effective in them, and • how managers can change their organization from one which is locked in tradition to one which is flexible enough to respond positively to constant change. Revealing both the practicalities and theories behind surviving upheaval in the workplace, academics, business managers and HR managers alike will find this book to be a fascinating and invaluable read.

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Money, Investment And Consumption

Keynes’s Macroeconomics Rethought

O. F. Hamouda O.F. Hamouda, Associate Professor of Economics, York University, Canada

2009 264 pp Hardback 978 1 84542 979 9

2011 Paperback 978 1 84980 054 9

Hardback £68.00 Paperback £19.95

Description ‘Professor Hamouda’s book is very timely and thought provoking and should be an eye opener for students of economics who were brought up in the anti-Keynesian last decades of the twentieth century, or were taught the garbled rather than updated revived Keynesianism which has recently become popular.’ – Y.S. Brenner, Retired Professor of Economics, Utrecht University, The Netherlands Contents Contents: Preface Introduction 1. The Financial Crisis of 2008 and the UnKeynesian Keynes 2. Money, Price, and Interest 3. Keynes’s Semantic Shifts: The Shock of A Treatise on Money 4. Keynes’s Theoretical Shift: Casualty of the Criticism of the Treatise 5. Keynes’s Causal Relations: The General Theory Derailed 6. Inflation/Deflation and the Policy of the General General Theory Conclusion Appendices Index Further information ‘Professor Hamouda’s book is very timely and thought provoking and should be an eye opener for students of economics who were brought up in the anti-Keynesian last decades of the twentieth century, or were taught the garbled rather than updated revived Keynesianism which has recently become popular.’ – Y.S. Brenner, Retired Professor of Economics, Utrecht University, The Netherlands Contrary to the commonly perpetuated belief that Keynes’s theory is appropriate only to economic depressions, the author of this provocative book maintains that Keynes provided a complete set of macroeconomic relations and the ingredients of a new theoretical model, much more reflective of and analytically appropriate to the 21st century than those on which current macroeconomics is based.

With the perspective of Keynes as the backdrop, the author begins with a discussion of the characteristics of the financial crises of 2008 and the 1930s. He then goes on to show that Keynes provided a novel, general theory, constructed as the EC-SP model (different from that of the Classicals’ Labour Theory of Value model and the neoClassicals’ antithetical IS-LM model), a theory yet unrecognized as being behind both A Treatise on Money and The General Theory. He presents here the premises of Keynes’s contributions which still await use by a generation of economists to reassess macroeconomics and orient it in a new direction.

This unique and authoritative look at Keynes’s body of work will be an essential read for scholars and students of economics. Anyone trying to understand the state of the ‘entrepreneurial economy’, of which the 2008 financial crisis is but one manifestation prone to recurrence, will find the work an important resource.

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Regulatory Failure And The Global Financial

Crisis An Australian Perspective Mohamed Ariff , John Farrar , Ahmed M. Khalid Edited by Mohamed Ariff, John Farrar and Ahmed M. Khalid, Bond University, Australia

January 2012 c 256 pp Hardback 978 0 85793 532 8

Hardback £65.00

Description

This fascinating book presents a lively discussion of key issues resulting from the recent financial crisis. The expert contributors explore why the Global Financial Crisis occurred, how it destroyed wealth, triggered mass unemployment and created an unprecedented loss of control on employment, monetary policy and government budgets.

Contents

Contributors include: R.P Buckley, M. Bond, W. Byres, J. Carmichael, F. Clarke, K. Davis, G. Dean, J. Diplock, J. Farrar, A. Fels, N. Gaston, A. Khalid, R. MacKinnon, T. Makin Further information This fascinating book presents a lively discussion of key issues resulting from the recent financial crisis. The expert contributors explore why the Global Financial Crisis occurred, how it destroyed wealth, triggered mass unemployment and created an unprecedented loss of control on employment, monetary policy and government budgets.

Important topics encompassing the origin and impact of the crisis, governance failure, regulatory forgiveness, credit splurges, asset bubbles and the greed of institutions are analysed from the wide-ranging perspectives of not only academics in both economics and law, but also from industry practitioners and regulators. This multidimensional evaluation of what went wrong concludes with an outline of what is currently being done to prevent another major crisis, and prescribes recommendations for the implementation of further preventative measures. This book will prove a compelling read for economics, finance and law scholars, as well as for practitioners including accountants, lawyers and financial market players.

Full table of contents

Preface 1. Timeline of Crisis and Introduction Mohamed Ariff and John Farrar PART I: ORIGINS OF THE CRISIS AND IMPACT ON BANKING AND FINANCE 2. The Origin of the Global Financial Crisis: An Alternative View Mohamed Ariff 3. Exchange Rate Changes and Global Trade Imbalances: China as a Major Creditor Company Ronald I MacKinnon 4. Bank Capital Adequacy, Where to Now?

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Kevin Davis PART II: CRISIS IMPACT ON ECONOMIC ACTIVITIES AND COSTS 5. Unemployment and the Global Financial Crisis: Who Suffered Most and Why? Melisa Bond and Noel Gaston 6. The Fiscal Policy Response to the Global Financial Crisis: A Critique Tony Makin 7. Cost Consequences to the Economy and Finance Ahmed Khalid PART III: GOVERNANCE AND REGULATORY ISSUES OF THE CRISIS 8. Improving the Governance of Financial Institutions John Farrar 9. The Work of IOSCO and the Financial Regulatory Framework Jane Diplock 10. Balancing National and International Interests Wayne Byres PART IV: LESSONS FROM THE CRISIS 11. Executive Remuneration in Australia Alan Fels 12. Regulatory Lessons from the Global Financial Crisis Jeffrey Carmichael 13. Should We Stop IMF from Doing What It Should Not Do? A Radical Idea Ross P. Buckley 14. When History is Ignored, Business Black Swans and the Use and Abuse of a Notion Graeme Dean and Frank Clarke

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Financial Statement Analysis Workbook: A Practitioner's Guide, 4th Edition

Martin S. Fridson, Fernando Alvarez ISBN: 978-0-470-64003-6 Paperback 193 pages July 2011, ©2002 £19.99 / €24.00 Description Preface. Acknowledgments. PART ONE: Questions. Questions on Each Chapter. Financial Statement Exercises. Computational Exercises. PART TWO: Answers. Answers to Questions on Each Chapter. Financial Statement Exercises. Computational Exercises. Author Information MARTIN FRIDSON is CEO of Fridson Investment Advisors, an investment management firm specializing in corporate credit opportunities. Over a twenty-five-year span with brokerage firms including Salomon Brothers, Morgan Stanley, and Merrill Lynch, he became known for his innovative work in credit analysis and investment strategy. Fridson has served as president of the Fixed Income Analysts Society, governor of the Association for Investment Management and Research (now CFA Institute), and director of the New York Society of Security Analysts. FERNANDO ALVAREZ is currently an Adjunct Associate Professor of Finance and Economics at the Columbia University Graduate Business School, where he teaches entrepreneurship finance. From 2003 to 2008, he was associate professor in the Finance and Economics Department and director of entrepreneurship programs at Rutgers Business School, Newark and New Brunswick. Alvarez has taught at New York University's Stern School of Business where he was associate professor on innovation and entrepreneurship, and Babson College where he was assistant professor of finance.

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Securitization and Structured Finance Post Credit Crunch: A Best

Practice Deal Lifecycle Guide

Markus Krebsz ISBN: 978-0-470-71391-4 Hardcover 476 pages April 2011 £60.00 / €72.00 Description Preface. Acknowledgments. 1 Introduction. 1.1 Setting the scene: About this book. 1.2 Diagrammatical overview of deal lifecycle stages. 1.3 Role-based roadmap to the book. PART I THE CREDIT CRISIS AND BEYOND. 2 Looking back: What went wrong? 2.1 Overview. 2.2 Data, disclosure, and standardization. 2.3 Paper reports. 2.4 Electronic reports. 2.5 Data feeds. 2.6 Definitions. 2.7 Reporting standards. 2.8 Underwriting standards. 2.9 Due diligence. 2.10 Deal motives. 2.11 Arbitrage. 2.12 Rating shopping. 2.13 Overreliance on credit ratings. 2.14 Models, assumptions, and black boxes. 2.15 Proprietary analysis. 2.16 Risk management and risk mitigants. 2.17 Senior management awareness. 2.18 Lack of drilldown capability and group-wide controls. 2.19 Mark to market, mark to model, and pricing of illiquid bonds. 2.20 Government salvage schemes: What's next? 2.21 Re-REMICS: Private vs. public ratings. 2.22 Conclusion. 3 Looking ahead: What has happened since? 3.1 Current initiatives: An overview. 4 Sound practice principles. 4.1 Data. 4.2 Definitions. 4.3 Standards. 4.4 Investor focused. 4.5 Motivation and deal drivers. 4.6 Analysis. PART II DEAL LIFECYCLE. 5 Strategy and feasibility.

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5.1 Strategic considerations. 5.2 Key signs for securitization. 5.3 Deal structure type. 5.4 Asset classes. 5.5 Private issuance, public issuance, or conduit financing. 5.6 Credit enhancement and pricing. 5.7 Asset readiness and feasibility studies. 5.8 Documentation review. 5.9 Target portfolio and deal economics. 5.10 Indicative rating agency and financial modeling. 5.11 Ratings models. 5.12 Rating methodologies. 6 Pre close. 6.1 Typical execution timing. 6.2 Execution resources. 6.3 Transaction counterparties. 6.4 Transaction documents. 6.5 Deal configuration. 7 At close. 7.1 Deal documents, marketing, and roadshow. 7.2 Pre-sale report. 7.3 Deal pricing and close. 7.4 New-issuance reports. 8 Post close. 8.1 Servicing and reporting. 8.2 Deal performance measurement. 8.3 The performance analytics process. 8.4 Deal redemption. PART III TOOLBOX. 9 Understanding complex transactions. 9.1 Structure diagrams. 9.2 Analytical capabilities. 9.3 The risk of overreliance on ratings. 9.4 Analytical roadmap. 10 Data. 10.1 The "meaning" of data. 10.2 Static information. 10.3 Dynamic data points. 10.4 Data providers. PART IV ANALYTICAL TOOLS. 11 Vendors. 12 ABSXchange. 12.1 Introduction. 12.2 Performance data. 12.3 Pool performance. 12.4 Portfolio monitoring. 12.5 Creating benchmark indexes. 12.6 Cash flow analytics. 12.7 Single-bond cash flow analysis. 12.8 Single cash flow projection results. 12.9 Advanced functionality. 13 Bloomberg. 14 CapitalTrack. 14.1 Changing the data model used for structured finance instrument administration. 14.2 The big fly in the ointment. 14.3 CapitalTrack—the new model. 15 Fitch Solutions. 15.1 Products and services.

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15.2 Research services. 15.3 Structured finance solutions. 15.4 Residential mortgage models. 16 Intex. 16.1 Company history. 16.2 Overview. 16.3 Cash flow models and data. 16.4 New developments/releases. 16.5 Partners. 17 Lewtan Technologies. 17.1 Pioneers in a fast-growing industry. 17.2 Broadening the horizon. 17.3 A global solution. 17.4 Responding to regulatory requirements. 17.5 Streamlining workflows with automation tools and data feeds. 17.6 ABSNet scheduled export. 17.7 Home price depreciation and the need for better tools. 17.8 The demand for greater granularity. 17.9 A brighter future. 18 Moody's Wall Street Analytics. 18.1 ABS/MBS investors tools: Structured Finance Workstation. 18.2 CDO investors' tools. 18.3 ABS/MBS issuer tools. 18.4 CDO tools for asset managers. 18.5 CDOEdge for structurers. 18.6 CDOnet Underwriter. 19 Principia Partners: The Principia Structured Finance Platform. 19.1 Portfolio management. 19.2 Risk management: Cash flow and exposure analysis. 19.3 Operations and administration. 19.4 Summary. 20 Trepp. 20.1 Company history. 20.2 Product suite. 20.3 Trepp for CMBS. 20.4 Trepp derivative. 20.5 Trepp loan. 20.6 Powered by Trepp. 20.7 Recent developments. 20.8 Trepp's market affiliations. 20.9 The future. 21 Author's toolbox. 21.1 Overview. 21.2 Ratings tools. 22 Bloomberg's structured finance tools: Tricks and tips. 22.1 Structure paydown function (SPA). 22.2 Super Yield Table (SYT). 22.3 Mortgage Credit Support (MTCS). 22.4 Collateral Performance function (CLP). 22.5 CMBS Loan Detail screen (LDES). 22.6 Delinquency Report (DQRP). 22.7 Collateral Composition Graph (CLCG). 22.8 Cash Flow Table (CFT). 22.9 Class Pay Down (CPD). 22.10 Rating changes (RATT). 22.11 Mortgage API Excel workbooks (MAPI). 23 Websites and other resources. 23.1 Trade bodies.

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23.2 Free data portals. 23.3 Vendors. 23.4 Structured finance periodicals and other useful resources. 23.5 Rating agencies. APPENDIXES. A Glossary. B Ratings. B.1 Fitch Ratings. B.2 Moody's. B.3 Standard and Poor's. C List of abbreviations. D Bibliography. Index. Author Information Markus Krebsz is a strategic management consultant with expert knowledge in the spheres of securitization and rating agencies, and over 18 years of experience in the global financial markets. A well-regarded speaker at international conferences and an experienced workshop conductor, he currently acts as credit rating expert to the World Bank as part of various large-scale projects involving government-owned entities of several African nations. Previously, he managed the Rapid Risk Solutions Team of a major UK banking group, where he designed the firm's 'lending commitment index', which is ultimately used by HM Treasury (UK). Prior to that he established and managed the firm's Surveillance & Performance analytics team, overseeing one of the world's largest portfolios of structured finance bonds. Markus is an ex-Primary analyst for Fitch's Corporate & Infrastructure Securitization Team with a focus on trade receivables, leases and inventory, and government-related deals. He also worked for the rating agency's transaction surveillance team, where he was involved in innovative product development. Markus is the Chartered Securities and Investment Institute's (CISI) workbook reviewer for 'Risk in Financial Services', 'Operational Risk' and 'IT in Investment Operations', and a committee member of the CISI's Risk and IT forums. Since the beginning of the credit crunch, Markus has contributed to a large variety of industry working groups and consulted for central banks, financial regulators and trade associations providing insight, opinion and innovative capital markets solutions.

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The Long Divergence:

How Islamic Law Held Back the Middle East

Timur Kuran

Cloth | 2010 | $29.95 / £20.95 | ISBN: 9780691147567 $29.95 | ISBN: 9781400836017 Description

In the year 1000, the economy of the Middle East was at least as advanced as that of Europe. But by 1800, the region had fallen dramatically behind--in living standards, technology, and economic institutions. In short, the Middle East had failed to modernize economically as the West surged ahead. What caused this long divergence? And why does the Middle East remain drastically underdeveloped compared to the West? In The Long Divergence, one of the world's leading experts on Islamic economic institutions and the economy of the Middle East provides a new answer to these long-debated questions. Timur Kuran argues that what slowed the economic development of the Middle East was not colonialism or geography, still less Muslim attitudes or some incompatibility between Islam and capitalism. Rather, starting around the tenth century, Islamic legal institutions, which had benefitted the Middle Eastern economy in the early centuries of Islam, began to act as a drag on development by slowing or blocking the emergence of central features of modern economic life--including private capital accumulation, corporations, large-scale production, and impersonal exchange. By the nineteenth century, modern economic institutions began to be transplanted to the Middle East, but its economy has not caught up. And there is no quick fix today. Low trust, rampant corruption, and weak civil societies--all characteristic of the region's economies today and all legacies of its economic history--will take generations to overcome. The Long Divergence opens up a frank and honest debate on a crucial issue that even some of the most ardent secularists in the Muslim world have hesitated to discuss. Author Information Timur Kuran is professor of economics and political science and the Gorter Family Professor of Islamic Studies at Duke University. He is the author of Islam and Mammon: The Economic

Predicaments of Islamism(Princeton). Reviews: "Professor Kuran's book offers the best explanation yet for why the Middle East has lagged. After poring over ancient business records, Professor Kuran persuasively argues that what held the Middle East back wasn't Islam as such, or colonialism, but rather various secondary Islamic legal practices that are no longer relevant today."--Nicholas D. Kristof, New York Times "Mr. Kuran's arguments have broad implications for the debate about how to foster economic development. He demonstrates that the West's long ascendancy was rooted in its ability to develop institutions that combined labour and capital in imaginative new ways."--Economist "This is a book to be not just tasted but chewed and digested. Instead of facile claims that Islam is the solution or Islam is the problem, readers get a detailed history of economic institutions in the Middle East as compared to those in the West. Kuran shows that the Islamic law and practices underlying Middle Eastern commerce worked well for a long time and were much more flexible than usually assumed. . . . Clearly presented quantitative data and illuminating anecdotes add up to a fine feast."--Foreign Affairs "[The Long Divergence] explains a large part of why the Middle East and Turkey fell behind the West

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and law and economics has a lot to do with it. Various laws in Islamic societies were not conducive to large-scale economic structures, at precisely the time when such structures were becoming profitable and indeed essential as drivers of economic growth. This is not a book of handwaving but rather he nails the detail, whether it is on inheritance law, contracts, forming corporations, or any number of other topics."--Tyler Cowen, Marginal Revolution

Table Of Contents Preface ix PART I Introduction Chapter 1: The Puzzle of the Middle East's Economic Underdevelopment 3 Chapter 2: Analyzing the Economic Role of Islam 25 PART II Organizational Stagnation Chapter 3: Commercial Life under Islamic Rule 45 Chapter 4: The Persistent Simplicity of Islamic Partnerships 63 Chapter 5: Drawbacks of the Islamic Inheritance System 78 Chapter 6: The Absence of the Corporation in Islamic Law 97 Chapter 7: Barriers to the Emergence of a Middle Eastern Business Corporation 117 Chapter 8: Credit Markets without Banks 143 PART III The Makings of Underdevelopment Chapter 9: The Islamization of Non-Muslim Economic Life 169 Chapter 10: The Ascent of the Middle East's Religious Minorities 189 Chapter 11: Origins and Fiscal Impact of the Capitulations 209 Chapter 12: Foreign Privileges as Facilitators of Impersonal Exchange 228 Chapter 13: The Absence of Middle Eastern Consuls 254 PART IV Conclusions Chapter 14: Did Islam Inhibit Economic Development? 279 Notes 303 References 349 Index 393

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Beauty Pays: Why Attractive People Are More Successful Daniel S. Hamermesh

Cloth | 2011 | $24.95 / £16.95 | ISBN: 9780691140469. 2011 | $24.95 | ISBN: 9781400839445 Description Most of us know there is a payoff to looking good, and in the quest for beauty we spend countless hours and billions of dollars on personal grooming, cosmetics, and plastic surgery. But how much better off are the better looking? Based on the evidence, quite a lot. The first book to seriously measure the advantages of beauty,Beauty Pays demonstrates how society favors the beautiful and how better-looking people experience startling but undeniable benefits in all aspects of life. Noted economist Daniel Hamermesh shows that the attractive are more likely to be employed, work more productively and profitably, receive more substantial pay, obtain loan approvals, negotiate loans with better terms, and have more handsome and highly educated spouses. Hamermesh explains why this happens and what it means for the beautiful--and the not-so-beautiful--among us. Exploring whether a universal standard of beauty exists, Hamermesh illustrates how attractive workers make more money, how these amounts differ by gender, and how looks are valued differently based on profession. He considers whether extra pay for good-looking people represents discrimination, and, if so, who is discriminating. Hamermesh investigates the commodification of beauty in dating and how this influences the search for intelligent or high-earning mates, and even examines whether government programs should aid the ugly. He also discusses whether the economic benefits of beauty will persist into the foreseeable future and what the "looks-challenged" can do to overcome their disadvantage. Reflecting on a sensitive issue that touches everyone, Beauty Pays proves that beauty's rewards are anything but superficial. Author Information Daniel S. Hamermesh is the Sue Killam Professor in the Foundations of Economics at the University of Texas, Austin, and professor of labor economics at Maastricht University in the Netherlands. He is the author of Labor

Demand (Princeton) and Economics Is Everywhere. Reviews: "This chatty, economist's-eye-view of beauty in the marketplace provides solid statistical evidence that beauty does pay."--Publishers Weekly "An extensive, dizzying compilation of economic data explaining 'why attractive people are more successful.' A 40-year veteran in the field of economics, Hamermesh examines the correlation between beauty and economics. . . . Fascinating."--Kirkus Reviews "[A] no-warts-and-all exposé of how attractive people earn more, marry better and enjoy a wealth of positive discrimination."--Anjana Ahuja, Prospect "Daniel Hamermesh . . . has long written about 'pulchronomics.' In Beauty Pays he reckons that, over a lifetime and assuming today's mean wages, a handsome working in America might on average make $230,000 more than a very plain one. There is evidence that attractive workers bring in more business, so it often makes sense for firms to hire them. Whether rewarding them accordingly--and paying their less attractive peers more stingily--is good for society is another matter."--Economist "If you live in the west and have lately looked at any magazine, watched any television, seen any movie, common sense would dictate that those who are better looking accrue the benefits of such a genetic roll of the dice. But what exactly those benefits are and if they are measurable is the point of Beauty Pays. . . . [T]his book . . . will prove more than just eye candy."--New York Journal of Books

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Table Of Contents Preface ix PART I: Background to Beauty Chapter I: The Economics of Beauty 3 Chapter II: In the Eye of the Beholder 11 Definitions of Beauty 11 Why Do Beauty Standards Matter? 18 How Do We Measure Human Beauty? 19 Do Observers Agree on Beauty? 24 Does Beauty Differ by Gender, Race, or Age? What Makes You Beautiful? 28 Can We Become More Beautiful? 32 The Stage Is Set 35 Part I I: Beauty on the Job: What and Why Chapter III: Beauty and the Worker 39 The Central Questions 39 How Can Beauty Affect Earnings? 40 How Much More Do Good-Looking People Make? 42 Is Beauty the Real Cause? 51 Why Are Beauty Effects Smaller Among Women? 55 Do Beauty Effects Differ by Race? 58 Do Beauty Effects Differ by Age? 59 Compensating the Beauty-Damaged Worker? 61 Looks Matter for Workers 64 Chapter IV Beauty in Specific Occupations 66 Beauty and Choosing an Occupation 66 How Big Are Beauty Effects Where Beauty Might Matter? 72 How Big Are Beauty Effects Where Beauty Might Not Matter? 79 Sorting by Beauty 84 Chapter V: Beauty and the Employer 86 The Puzzles 86 Do Good-Looking Employees Raise Sales? 87 How Does Beauty Affect Profits? 92 How Can Companies Pay for Beauty and Survive? 97 Do Companies with Better-Looking CEOs Perform Better? 98 Beauty Helps Companies--Probably 100 Chapter VI: Lookism or Productive Beauty, and Why? 102 What the Beauty Effect Means 102 How Can Beauty Effects Be Discrimination? 103 How Can Beauty Be Socially Productive? 108 What Are the Sources of Beauty Effects? 111 What Is the Direct Evidence on the Sources? 114 The Importance of Beauty 121 Part I I I: Beauty in Love, Loans, and Law Chapter VII: Beauty in Markets for Friends, Family, and Funds 125 Beyond the Labor Market 125 How Is Beauty Exchanged? 126 How Does Beauty Affect Group Formation? 128 How Does Beauty Affect Dating? 130 How Does Beauty Affect Marriage? 135 Could There Be a Market for Beautiful Children? 141 Does Beauty Matter When You Borrow? 144 Trading Beauty in Unexpected Places 146 Chapter VIII: Legal Protection for the Ugly 148 Fairness and Public Policy 148 What Kinds of Protection Are Possible? 149 How Have Existing Policies Been Used? 154 Is It Possible to Protect the Ugly? 156

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What Justifies Protecting the Ugly? 160 What Justifies Not Protecting the Ugly? 163 What Is an Appropriate Policy? 166 Protecting the Ugly in the Near Future 168 Part I V: The Future of Looks Chapter IX Prospects for the Looks-Challenged 171 The Beauty Conundrum 173 Are Beautiful People Happier? 173 What Will Be Beautiful? What Should Be? 175 What Can Society Do? 177 What Can You Do If You're Bad-Looking? 178 Notes 181 Index 203

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Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance Viral V. Acharya, Matthew Richardson, Stijn Van Nieuwerburgh & Lawrence J. White Cloth | 2011 | $24.95 / £16.95 | ISBN: 9780691150789 232 pp. | 5 1/2 x 8 1/2 eBook | 2011 | $24.95 | ISBN: 9781400838097 Description

The financial collapse of Fannie Mae and Freddie Mac in 2008 led to one of the most sweeping government interventions in private financial markets in history. The bailout has already cost American taxpayers close to $150 billion, and substantially more will be needed. The U.S. economy--and by extension, the global financial system--has a lot riding on Fannie and Freddie. They cannot fail, yet that is precisely what these mortgage giants are guaranteed to do. How can we limit the damage to our economy, and avoid making the same mistakes in the future? Guaranteed to Fail explains how poorly designed government guarantees for Fannie Mae and Freddie Mac led to the debacle of mortgage finance in the United States, weighs different reform proposals, and provides sensible, practical recommendations. Despite repeated calls for tougher action, Washington has expanded the scope of its guarantees to Fannie and Freddie, fueling more and more housing and mortgages all across the economy--and putting all of us at risk. This book unravels the dizzyingly immense, highly interconnected businesses of Fannie and Freddie. It proposes a unique model of reform that emphasizes public-private partnership, one that can serve as a blueprint for better organizing and managing government-sponsored enterprises like Fannie Mae and Freddie Mac. In doing so, Guaranteed to Fail strikes a cautionary note about excessive government intervention in markets. Author Information Viral V. Acharya, Matthew Richardson, Stijn Van Nieuwerburgh, and Lawrence J. White are professors at the Leonard N. Stern School of Business at New York University, and are experts in applied financial economics. Acharya and Richardson are the coeditors of Restoring Financial Stability and Regulating Wall Street. Van Nieuwerburgh is an expert on household finance and mortgage markets. White has studied government-sponsored enterprises for many years and served on the board of Freddie Mac from 1986 to 1989 as part of his government service as a board member on the Federal Home Loan Bank Board. Reviews: "[Guaranteed to Fail] is more multi-dimensional and nuanced than most other books on the bloody crossroads where real estate and banking meet. . . . [The] authors show convincingly that the GSEs' subprime lending was not a noble idea that eventually went wrong or drifted into excesses--it was a fool's errand from the beginning."--Financial Times "[A] valuable book on how two quasi-public companies became 'the world's largest and most leveraged hedge fund'. . . . A balanced study, [Guaranteed to Fail] rises above a clash between partisans on the right--who call the companies 'ground zero' in the meltdown--and those on the left who blame deregulation and Wall Street excess. . . . Part primer, part policy prescription, the text explains in simple language what these entities are, how they got so big, and why we must fix them."--James Pressley, Bloomberg News "In Guaranteed to Fail, a quartet of New York University professors from its Stern School of Business, focus

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on the 'debacle of mortgage finance' that Fannie and Freddie helped create, and offer a plan for reform. In clear language, and with plenty of data to support their arguments, the authors provide a concise but comprehensive history of the GSEs--which alone makes their book worth reading."--Barron's "Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance, stands out among all the others. . . . [I]t is one of the very few books to focus squarely on the ultimate cause of the crisis: US government housing policy and the role of the two government-backed mortgage giants Freddie Mac and Fannie Mae in giving effect to that policy."--Stephen Kirchner, The Conversation (Australia) "[T]hought-provoking . . ."--Gillian Tett, Financial Times "[T]he authors provide a detailed template for reform."--The Economist

Table Of Contents Acknowledgments ix Prologue 1 CHAPTER ONE: Feeding the Beast 11 CHAPTER TWO: Ticking Time Bomb 31 CHAPTER THREE: Race to the Bottom 41 CHAPTER FOUR: Too Big to Fail 61 CHAPTER FIVE: End of Days 80 CHAPTER SIX: In Bed with the Fed 99 CHAPTER SEVEN: How Others Do It 115 CHAPTER EIGHT: How to Reform a Broken System 132 CHAPTER NINE: Chasing the Dragon 165 EPILOGUE 178 Appendix: Timeline of U.S. Housing Finance Milestones 183 Notes 187 Glossary 207 Index 211

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Exile on Wall Street: One Analyst's Fight to Save the Big Banks from

Themselves

Mike Mayo ISBN: 978-1-1181-1546-6 Hardcover 208 pages November 2011 £19.99 / €24.00 Table Of Contents Introduction Watering Down the Wine 1 Chapter 1 “God’s Work” at the Fed 9 Chapter 2 The Big Time—or Something Like It 25 Chapter 3 Exile . . . and Redemption 45 Chapter 4 The Professional Gets Personal 67 Chapter 5 The Crisis 81 Chapter 6 The Vortex 97 Chapter 7 Citi, Part I: A Long, Sad Saga 111 Chapter 8 Citi, Part II: The Plot Sickens 131 Chapter 9 A Better Version of Capitalism 145 Chapter 10 The Meaning of Life 165 Acknowledgments 177 About the Author 179 Notes 181 Index 193 Author Information Mike Mayo is one of the top-ranked banking and finance analysts of the past twenty years. Mayo was the only analyst to testify during Senate Banking Committee hearings in 2002 on conflicts of interest on Wall Street, and in 2010, he testified again, this time as the first analyst to speak on the causes of the crisis. He has worked at Wall Street firms including UBS, Lehman Brothers, Credit Suisse, Prudential Securities, and Deutsche Bank. He currently serves as Managing Director at Credit Agricole Securities, which provides services in the United States for CLSA, a global boutique brokerage firm. In 2008, Fortune named him one of "Eight Who Saw the Crisis Coming." Reviews Mike Mayo is an old-style bank analyst—thorough, independent, honest—who never pulls his punches, whatever icons, public or private, may be wounded." —Paul A. Volcker, former chairman of the Federal Reserve "Exile on Wall Street offers Wall Street's rarest commodity: the truth about our nation's largest banks and how they almost toppled capitalism. If you want to know the sickening truth about the largest banks, read Mike Mayo's exposé." —Harry Markopolos, author of No One Would Listen "Mike Mayo is one of the best financial analysts on Wall Street. He brings clarity to a world full of uncertainty." —Maria Bartiromo, leading financial commentator “Mike has long advocated for the investor. If only directors of business corporations with the legal and moral obligation to their shareholder base would emulate his diligence on their behalf, then good corporate governance would be restored. Every public company director ought read his book!” —Thomas Garrott, ex-CEO of National Commerce bank and an ex-director of SunTrust

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Press Release Near Wall Street, a protestor wears a dollar bill covering his mouth and carries a sign reading “I could lose my job for having a voice.” Award winning, veteran sell side Wall Street analyst Mike Mayo has, and is in a unique position to write about one of the biggest financial and political issues of our time – the role of finance and banks in our country. No third party observer, Mayo has his share of battle scars from calling truth to power at some of the largest banks in the world. In EXILE ON WALL STREET: One Analyst’s Fight to Save the Big Banks from Themselves (Wiley; November, 2011; hardcover and e-book), he lays out practices that have diminished capitalism and the banking sector, and shares how he survived challenging the status quo to be credited as one of the few who saw the crisis coming. He has worked at six Wall Street firms, analyzing banks and protesting against bad practices for two decades. EXILE ON WALL STREET blows the lid off the true inner workings of the big banks and shows the ways in which Wall Street is just as bad today as it was pre-crash. Mayo analyzes the fallout stemming from the market crash, pointing out the numerous holes that still exist in the system, and offers practical solutions. His analysis and his book are reported in his trademark fearlessness and candor. EXILE ON WALL STREET is a gripping read for anyone with an interest in business and finance, U.S. capitalism, the future of banking, and the root causes of the financial meltdown. While it provides an education, this is no textbook. It is also an invaluable resource for finance practitioners and citizens alike. About the Author Mike Mayo is one of the top-ranked banking and finance analysts of the past twenty years. Mayo was the only analyst to testify during the Senate Banking Committee hearings in 2002 on conflicts of interest on Wall Street, and in 2010 he testified again, this time as the first analyst to speak on the causes of the crisis. He has worked at Wall Street firms including Credit Suisse, Deutsche Bank, Lehman Brothers, Prudential Securities and UBS. He currently serves as Managing Director at Credit Agricole Securities (USA) Inc, which provides services in the United States for CLSA, an independent global brokerage. In 2008, Fortune named him one of “Eight Who Saw the Crisis Coming.”

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From Modernization to Globalization: Perspectives on Development and Social Change

J. Timmons Roberts, Amy Bellone Hite ISBN: 978-0-631-21097-9 Paperback400 pages December 1999, Wiley-Blackwell £23.99 / €28.80 Table Of Contents Preface. Acknowledgments. Introduction: J. Timmons Roberts and Amy Hite. Part I: Formative Ideas on the Transition to Modern Society:. 1. "Manifesto of the Communist Party" and "Alienated Labor": Karl Marx and Friedrich Engels. 2. Selections from The Division of Labor in Society: Emile Durkheim. 3. The Protestant Ethic and the Spirit of Capitalism: Max Weber. Part II: How does Development Change People? Modernization Theories and the Intellectual Roots of the Development Project:. 4. Evolutionary Universals in Society: Talcott Parsons. 5. The Five Stages-of-Growth - A Summary: W. W. Rostow. 6. From A Study of Slum Culture: Backgrounds for LA VIDA: Oscar Lewis. 7. Excerpts from The Passing of Traditional Society: Daniel Lerner. 8. Making Men Modern: On the Causes of Individual Change in Six Developing Countries: Alex Inkeles. 9. From The Change to Change: Modernization, Development, and Politics, and Political Order in Changing

Societies: Samuel Huntington. Part III: Blaming The Victims? Dependency and World-Systems Theories Respond: . 10. The Development of Underdevelopment: Andre Gunder Frank. 11. Dependency and Development in Latin America: Fernando Henrique Cardoso and Enzo Faletto. 12. The Dynamics of Rural Poverty in Latin America: Alain de Janvry and Carlos Garramón. 13. The Rise and Future Demise of the World Capitalist System: Concepts for Comparative Analysis: Immanuel Wallerstein. 14. The Effects of International Economic Dependence on Development and Inequality: A Cross-National Study: Christopher Chase-Dunn. 15. Rethinking Development Theory: Insights from East Asia and Latin America: Gary Gereffi. Part IV: Attempts to Understand Globalization and its Social Effects:. 16. The New International Division of Labor in the World Economy: Folker Fröbel, Jürgen Heinrichs, and Otto Kreye. 17. Globalization: Myths and Realities: Philip McMichael. 18. Capitalism: The Factory of Fragmentation: David Harvey. 19. Introduction from Has Globalization Gone Too Far?: Dani Rodrik. 20. Gender Industrialization, Transnational Corporations and Development: An Overview of Trends and Patterns: Kathryn B. Ward and Jean Larson Pyle. 21. Development after Ecology: Bob Sutcliffe. 22. Social Movements and Global Capitalism: Leslie Sklair. 23. Neoliberalism and the Sociology of Development: Emerging Trends and Unanticipated Facts: Alejandro Portes. Index.

Author Information J. Timmons Roberts is Associate Professor in Sociology and Latin American Studies at Tulane University. His research examines the social and environmental impacts of globalization. He has published articles and essays inThe Geographical Review, World Development, Current Sociology, and the Encyclopedia of Contemporary Latin

American and Caribbean Cultures.

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Amy Hite is Visiting Instructor in the Center for Latin American Studies at Tulane University.


Hedge Fund Due Diligence: Professional Tools to Investigate Hedge Fund Managers Randy Shain ISBN: 978-0-470-13977-6 Hardcover 304 pages February 2008 £55.00 / €64.00 Description Hedge Fund Due Diligence provides a step-by-step methodology that will allow you to recognize and avoid questionable hedge funds before its too late. Based on a framework that hedge fund investigative expert Randy Shain has refined over the course of his successful career, this book offers an overview of due diligence into hedge fund management, how information on managers can be obtained, and why this information is essential to your investment endeavors. Table Of Contents Acknoweldgments. Introduction. Chapter 1. Hedge Fund Growth – What It Means To The Institution. Chapter 2. What Is Due Diligence? What Are The Various Types Of Due Diligence? Chapter 3. What Kinds Of Hedge Fund Failures Do The Press Discuss? Why Do Most Hedge Funds Really Fail? Chapter 4. Can The Chances Of Investing In Future Failures Be Lessened/Prevented? How? Chapter 5. Investigative Background Reports – The Beginning: Identify Your Target. Chapter 6. The Courts. Chapter 7. News Media. Is Nexis Your Only Option? Chapter 8. Regulatory Bodies. Chapter 9. Credentials Verifications. Chapter 10. Corporate Records: Not Just D&B Anymore. Chapter 11. The Internet: What It Can Do And What It Can't. Chapter 12. Public Records – Is That All There Is? Chapter 13. What You Think Is Helpful, But Isn't. Chapter 14. The Law. Chapter 15. Credit Reports. Chapter 16. Warning Signs, Red And Yellow Flags. Notes. Author Information Randy Shain is Vice President at First Advantage Investigative Services, producers of the BackTrack Report, where he examines funds and fund management. Since 1993, Shain has examined more than 2,500 funds and 4,500 hedge fund managers. His due diligence work has expanded as the number and size of hedge funds has skyrocketed, with more than 9,000 funds, managing more than $1.2 trillion today. As part of his work, Shain examines court filings, criminal records, news clippings, and conducts extensive interviews.

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Investment Strategies of Hedge Funds Filippo Stefanini ISBN: 978-0-470-02627-4 Hardcover 336 pages July 2006 £65.00 / €78.00 Description Hedge Fund Due Diligence provides a step-by-step methodology that will allow you to recognize and avoid questionable hedge funds before its too late. Based on a framework that hedge fund investigative expert Randy Shain has refined over the course of his successful career, this book offers an overview of due diligence into hedge fund management, how information on managers can be obtained, and why this information is essential to your investment endeavors. Table Of Contents Foreword. Preface. Acknowledgements. About the Author. 1. A Few Initial Remarks. 1.1 What is a hedge fund? 1.2 History of hedge funds. 1.3 Proprietary trading. 1.4 The growth of the hedge fund industry. 1.5 Main characteristics of the current industry. 1.6 Capacity. 1.7 Commissions. 1.8 Industry performance overview. 1.9 The hedge fund manager. 1.10 Alpha and beta. 1.11 Investment strategies. 1.12 Explorers and frontiers. 1.13 SEC’s vigilance. 1.14 Considerations on performance sustainability. 1.15 Capacity and performance sustainability. 1.16 Ability or chance? 1.17 The importance of avoiding losses. 1.18 Decreasing returns with longer investment horizons. 1.19 Business case: A hedge fund start-up. 2. Arbitrage. 2.1 The transaction costs barrier. 2.2 ADR arbitrage. 2.3 Arbitrage between off-the-run and on-the-run thirty-year Treasury Bonds. 3. Short Selling. 3.1 A brief history of short selling. 3.2 What is short selling? 3.3 A simplified example of short selling on US markets. 3.4 Who lends securities for short selling? 3.5 Regulations governing short selling. 3.6 The risks of short selling. 3.7 Short interest and short interest ratio. 3.8 Wall Street’s alter ego. 3.9 Stock picking in short selling.

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3.10 The art of contrary thinking. 3.11 Measuring the strategy’s historical performance. 3.12 Conclusions. 4. Long/Short Equity. 4.1 History of the first hedge fund. 4.2 Market exposure. 4.3 Management styles. 4.4 Specialized long/short equity funds. 4.5 Share class arbitrage. 4.6 Pairs trading. 4.7 Covered call and covered put options sale. 4.8 Strategy’s historical performance analysis. 4.9 Equity market neutral. 5. Merger Arbitrage. 5.1 A brief history of M&A. 5.2 Strategy description. 5.3 Risk associated with the outcome of an extraordinary corporate event. 5.4 Types of mergers and acquisitions. 5.5 Risk management. 5.6 Strategy’s historical performance analysis. 5.7 Conclusions. 6. Convertible Bond Arbitrage. 6.1 Why issue a convertible bond? 6.2 A brief history of convertible bonds. 6.3 The convertible bond market. 6.4 Definitions. 6.5 Quantitative models to value convertible bonds. 6.6 Implied volatility and historical volatility. 6.7 Convertible bond arbitrage. 6.8 Mandatory convertibles. 6.9 Strategy’s historical performance analysis. 6.10 Risk control. 6.11 Conclusions. 7. Fixed Income Arbitrage. 7.1 Issuance driven arbitrage or snap trade. 7.2 Yield curve arbitrage. 7.3 Intermarket spread trading. 7.4 Futures basis trading or basis trading. 7.5 Swap spread trading. 7.6 Capital structure arbitrage. 7.7 Long/short credit or credit pair trading. 7.8 Carry trade. 7.9 Break-even inflation trades. 7.10 Cross-currency relative value trade. 7.11 Treasuries over eurodollars (TED) spread or international credit spread. 7.12 Leveraged loans. 7.13 Strategy’s historical performance analysis. 7.14 Conclusions. 8. Strategies on CDOs. 8.1 A brief history of CDOs. 8.2 Hedge fund investment strategies. 8.3 Conclusions. 9. Mortgage-Backed Securities Arbitrage. 9.1 A brief history of mortgage-backed securities. 9.2 Originators of mortgage-backed securities. 9.3 The industry of mortgage-backed securities. 9.4 The sensitivity of mortgage-backed securities to interest rates. 9.5 Arbitrage on mortgage-backed securities.

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9.6 Risk factors. 9.7 Strategy’s historical performance analysis. 9.8 Conclusions. 10. Distressed Securities. 10.1 A brief history of distressed securities. 10.2 The distressed debt market. 10.3 Bankruptcy laws. 10.4 Strategy description. 10.5 Risks. 10.6 A brief consideration of the directional nature of distressed securities hedge funds. 10.7 Trade claims. 10.8 Strategy’s historical performance analysis. 10.9 Conclusions. 11. Event Driven or Special Situations. 11.1 Activist investors. 11.2 Strategy’s historical performance analysis. 12. Multi-strategy. 12.1 Multi-strategy funds. 12.2 Strategy’s historical performance analysis. 13. Managed Futures. 13.1 What is a futures contract? 13.2 A brief history of managed futures. 13.3 Managed futures strategy. 13.4 “Do storks deliver babies?” and the predictability of financial time series. 13.5 Strategy’s historical performance analysis. 13.6 Conclusions. 14. Global Macro. 14.1 A brief history of macro funds. 14.2 Investment strategies adopted. 14.3 The characteristics shared by great traders. 14.4 The legs of a trade. 14.5 The theory of reflexivity by George Soros. 14.6 Debt emerging markets. 14.7 Strategy’s historical performance analysis. 14.8 Conclusions. 15. Other Strategies. 15.1 Holding company arbitrage. 15.2 Closed-end fund arbitrage. 15.3 Statistical arbitrage. 15.4 Index arbitrage. 15.5 Volatility trading. 15.6 Split-strike conversion. 15.7 Lending. 15.8 PIPEs or Regulation D. 15.9 Real estate. 15.10 Natural resources. 15.11 Energy trading. 15.12 Natural events. 16. Hedge Fund Performance Analysis. 16.1 Risks inherent in hedge fund investments. 16.2 Hedge fund strategies indices. 16.3 Statistical analysis of indices. 16.4 Value at risk. 16.5 Statistical analysis of data from the LIPPER TASS database. 17. Conclusions. Bibliography. Index.

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The Hedge Fund Book: A Training Manual for Professionals and Capital-Raising

Executives

Richard C. Wilson ISBN: 978-0-470-52063-5

Hardcover

191 pages

June 2010

£50.00 / €60.00

DESCRIPTION An accessible guide to effectively operating in the hedge fund arena Hedge funds are now in the news more than a thousand times a day and yet it is hard to find clear, factual information about how they operate, raise capital, and invest. The Hedge Fund Book provides real-world case studies of various hedge fund managers providing a solid foundation in specialized hedge fund knowledge for both financial professionals and those aspiring to enter this field. It provides an analysis of funds within different phases of their life cycles and investment processes, and examines each cycle in ways that would be informational for marketers as well as investors, bankers, and financial professionals who would like to learn more about day-to-day hedge fund operations Addresses everything you need to know about this popular segment of the financial industry within a case study format Each chapter contains several types of investment and situational analyses, insights and best practices along with a review and "test your knowledge section" Written by a successful hedge fund consultant and head of one of the largest hedge fund networking groups in the industry with more than 30,000 members This book is required reading for participants within the hedge fund industry's leading designation program, the CHP Designation If you're looking to gain a better understanding of hedge funds, look no further than The Hedge Fund Book. Table Of Contents Preface xi My Story xii Disclosure of Financial Interests xiii Acknowledgments xv Introduction 1 CHAPTER 1: Hedge Fund Fundamentals 5 Hedge Fund Mechanics and Statistics 6 History of Hedge Funds 8 Media Portrayal of Hedge Funds 9 Hedge Fund Ecosystem 10 Future of the Hedge Fund Industry 13 Chapter Summary 13 Review Questions 14 CHAPTER 2: Institutionalization and Operations 17 Stephen Abrahams, Vice President of Marketing for a London-Based Hedge Fund 18 Bob Pardo, CEO and President, Pardo Capital Limited 19 Vinod Paul, Managing Director of Service and Business Development, Eze Castle Integration 21 Nakul Nayyar, Quantitative Trading/Support, Quad Capital 24 Hendrik Klein, CEO, Da Vinci Invest Ltd. 26 Sheri Kanesaka, Associate, Michelman & Robinson, LLP 29 Eric Warshal, CEO, Fund Associates 30 Lance Baraker and William Katts, Senior Managing Directors, TradeStation Prime 32 Chapter Summary 36

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Review Questions 36 CHAPTER 3: Hedge Fund Marketing Pro 39 Bad News 40 Public Relations Management 41 Educational Marketing 42 Forget about Contacting More Investors 43 E-Mail Marketing Best Practices 45 Copy Writing 49 Case Profile 50 Stephen Abrahams, Vice President of Marketing for a London-Based Hedge Fund 54 Pratik Sharma, Managing Director, Atyant Capital 55 Hendrik Klein, CEO, Da Vinci Invest Ltd. 59 Chapter Summary 60 Review Questions 61 CHAPTER 4: The Shooting Star 63 18 Lessons from Shooting Star Hedge Funds 63 Rick Nummi, Partner and General Counsel, Accounting and Compliance International (ACI) 65 Thomas Powell, Chief Executive Officer, ELP Capital 72 Chapter Summary 74 Review Questions 74 CHAPTER 5: Hedge Fund Start-Up Guru 77 Top Five Tips for Starting a Hedge Fund 78 Hedge Fund Pitch Book Creation 80 Syed Ali, CEO, Saturn Partners, LLC 81 Nakul Nayyar, Quantitative Trading/Support, Quad Capital 86 Chapter Summary 89 Review Questions 90 CHAPTER 6: Dedicated to Due Diligence 93 Scott Freund, President, GCC Family Wealth Management 94 Brian Reich, President and Founder, Atrato Advisors LLC 95 Richard Wilson, Hedge Fund Group, CHP Designation, HedgeFundBlogger.com 98 Due Diligence Effects on Hedge Funds 102 Chapter Summary 105 Review Questions 106 CHAPTER 7: Giant Hedge Funds 109 Best Practices from $1 Billion-Plus Hedge Funds 109 Richard Zahm, Portfolio Manager, Second Angel Fund 111 Scott Cohen, President and CEO, Hedge Solutions 117 Chapter Summary 119 Review Questions 120 CHAPTER 8: Governance Best Practices 123 Andrew Main, Managing Partner, Stratton Street Capital LLP 124 David R. Koenig, CEO of the Governance Fund, LLC 130 Chapter Summary 134 Review Questions 134 CHAPTER 9: Frequently Asked Hedge Fund Questions 137 Hedge Funds 101 137 Hedge Fund Operations 139 Hedge Fund Marketing and Sales 142 Hedge Fund Careers 156 APPENDIX A: Bonuses of $1,779 169 APPENDIX B: Example Due Diligence Questions 171 Questionnaire 171 APPENDIX C: Top Hedge Fund Web Sites 177 Glossary 179 About the Author 185 Index 187 Contact the Author 191

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Author Information RICHARD C. WILSON is a hedge fund consultant and head of the Hedge Fund Group, the largest hedge fund networking group in the industry. He is also the creator of the successful Web site HedgeFundBlogger.com. Wilson writes a daily article on the hedge fund industry for the site, as well as straightforward educational pieces on hedge fund strategies, terms and definitions, trends, interviews, videos, and book reviews. He also founded and holds two 100% online training sessions for the Certified Hedge Fund Professional (CHP) Designation Program, a professional certification program catering to professionals in the hedge fund industry.

World in the Balance: THE HISTORIC QUEST FOR AN ABSOLUTE

SYSTEM OF MEASUREMENT Robert P. Crease (Author, Stony Brook University) Hardcover October 2011 ISBN 978-0-393-07298-3 6.6 × 9.6 in / 317 pages Territory Rights: Worldwide OUR RETAIL PRICE:$26.95 Overview The epic story of the invention of a global network of weights, scales, and instruments for measurement. Millions of transactions each day depend on a reliable network of weights and measures. This network has been called a greater invention than the steam engine, comparable only to the development of the printing press. Robert P. Crease traces the evolution of this international system from the use of flutes to measure distance in the dynasties of ancient China and figurines to weigh gold in West Africa to the creation of the French metric and British imperial systems. The former prevailed, with the United States one of three holdout nations. Into this captivating history Crease weaves stories of colorful individuals, including Thomas Jefferson, an advocate of the metric system, and American philosopher Charles S. Peirce, the first to tie the meter to the wavelength of light. Tracing the dynamic struggle for ultimate precision, World in the Balance demonstrates that measurement is both stranger and more integral to our lives than we ever suspected.

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Internal Control of Fixed Assets: A Controller and Auditor's Guide

Alfred M. King ISBN: 978-0-470-53940-8 Hardcover 192 pages March 2011 £45.00 / €52.00 DESCRITION What's the big deal about fixed assets? If the PCAOB starts to review auditor work papers dealing with Property, Plant, and Equipment (PP&E) on a more intensive basis, will your organization be ready? What if fair value reporting for PP&E were required? As timely as it is complete, Internal Control of Fixed Assets peels back the layers surrounding the often-complex topic of internal controls for PP&E. This nuts-and-bolts book provides authoritative, step-by-step guidance on developing a system of internal controls for fixed assets, covering: IFRS versus GAAP: what you must know Internal control, Sarbanes-Oxley, and the PCAOB Capitalization and expense of PP&E Depreciation for books and taxes Contingent assets and liabilities Internal auditing of PP&E With up-to-the-minute discussion of IFRS and GAAP, this is a must-have guide for controllers, auditors, and CFOs, providing practical and proven advice on maintaining a functioning internal control system that will withstand the closest scrutiny from independent public accountants and, ultimately, the PCAOB. Get your existing system in order and stay far ahead of your competitors with the straightforward business analysis in Internal Control of Fixed Assets. Table Of Contents Preface. Chapter 1: Internal Control, Sarbanes-Oxley, and the Public Company Accounting Oversight Board. Internal Controls over Property, Plant, and Equipment—Mandatory but Weak. Internal Controls over Working Capital. Securities and Exchange Commission and Public Company Accounting Oversight Board Scrutiny of Financial Statements. Why Do Auditors Not Spend More Time on Property, Plant, and Equipment? Who Is Responsible for Internal Control over Property, Plant, and Equipment? ‘‘What Is So Hard about the Job?’’. Note. Chapter 2: Capitalization versus Expense. Capitalization Theory. Why Capitalization Levels Matter. Consequences of Increasing Minimum Capitalization Level. What Is the Optimum Capitalization Limit? Summary. Note. Chapter 3: Asset Life Cycle—Controls and Software. Software Is the Key. Input, Output, and Reporting Capability. How to Evaluate Software Vendors. Assign Responsibility for Implementation and Beyond. Charging Departments Will Ensure Individual Responsibility. Return on Investment Analysis. Summary. Note. Chapter 4: Depreciation and Amortization for Books and Taxes. Internal Control for Depreciable Tangible Assets. Determining Useful Lives Whenever New Assets Are Acquired.

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Choosing Accounting Lives. How Valuation Specialists Determine Economic Lives. Determining Lives for Intangible Assets. Changing Lives and Depreciation for Existing Assets. Leasing as a Way to Utilize Depreciation. Summary. Note. Chapter 5: Impairment Testing. Testing Intangible Assets That Are Not Amortized. Testing for Impairment of Property, Plant, and Equipment, and Amortizable Intangibles. Reviewing Lives for Assets Already in Service. Testing for Goodwill. Reporting Units. Determining the Fair Value of a Reporting Unit. Phase II Test of Accounting Standards Codification 350. Understanding Impairment Charges. Summary. Note. Chapter 6: Physical Control of Property, Plant, and Equipment. Tagging of Property, Plant, and Equipment. Alternative Tagging Methods. Barcode Tagging. Radio Frequency Identification Tags. Asset Tagging for Expensed Assets. Recommendation. Summary. Notes. Chapter 7: Taking a Physical Inventory. Planning and Using the Physical Inventory. Who Should Be Responsible? Use Own Staff, or Outsource? What Minimum Dollar Cutoff Should We Use? Initial Effort–Partial Facility versus Total. The $64,000 Question—Assets to Listing or Listing to Assets? Reconciliation of the Inventory to the Records. Fully Depreciated Assets. Reconciliation Process. Revised Asset Lives. Summary. Note. Chapter 8: Reconciliation of Physical Inventory to Accounting Records. Two Approaches to Reconciliation. Ghost Assets. Zombie Assets. Netting Out Ghost and Zombie Assets—Is It Permissible? Netting Out Gains and Losses. Performing the Inventory and Reconciliation Piecemeal. Summary. Chapter 9: Fixed Assets in a Business Combination. Carryover of Target’s Book Value. Applying Indexes to the Target Company’s Asset Register. Inaccuracies in the Target’s Asset Property Register. Detailed Valuation of Property, Plant, and Equipment. Summary. Note. Chapter 10: Insurance for Fixed Assets. Using the Master Property Record for Insurance. Insurable Values Are NOT Fair Value or Fair Market Value.

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How Appraisers Determine Insurable Values. Indexing. Proof of Loss. Summary. Chapter 11: Property Taxes—Personal Property and Real Estate. Reporting Fair Market Values upon Acquisition. Equity among Taxpayers. Appealing Personal Property Tax Assessments. Indexed Costs May Not Reflect Fair Market Value of Property, Plant, and Equipment. Real Estate Taxes and Appeals. ‘‘Contingency’’ Consultants. Summary. Note. Chapter 12: Developing the Fair Value of Fixed Assets. What Is the Fair Value of Property, Plant, and Equipment? Value in-Use of Property, Plant, and Equipment. What Would Happen if Fair Value Reporting for Property, Plant, and Equipment Was Required? Connection between Fair Value and Book Value. What Would Investors Learn from Fair Value Disclosures of Property, Plant, and Equipment? Summary. Chapter 13: Control of Fixed Assets under International Financial Reporting Standards. Component Depreciation. Asset Revaluation. Investment Property. What Is the ‘‘Cost’’ of Property, Plant, and Equipment? Summary. Note. Chapter 14: Component Depreciation for Buildings. International Financial Reporting Standards Has a Different Approach. Component Depreciation for Taxes. Complying with Internal Revenue Service Requirements. Internal Revenue Service Review of a Cost Segregation Study. Cost Segregation Study for New Construction. Will Cost Segregation Lower My Property Tax Expenses? Componentization for Financial Reporting. Summary. Note. Appendix: Excerpt of Internal Revenue Service Cost Segregation Audit Guide. Introduction. What Are the Most Common Methodologies Utilized for Cost Segregation Studies? What Are the Attributes of Various Cost Segregation Methodologies? Detailed Engineering Approach from Actual Cost Records. About the Author. Index. Author Information ALFRED M. KING, CMA, is the Vice Chairman of Marshall & Stevens and the former chairman of Valuation Research Corporation, both of which are national firms of appraisers. In addition, he is the former chairman of the Accounting Committee of the Institute of Management Accountants. He speaks at various conferences (IMA, AICPA, NACVA) on valuation issues.

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The Essential Guide to Internal Auditing, 2nd Edition

K. H. Spencer Pickett (National School of Government, London, UK ) ISBN: 978-0-470-74693-6 Paperback 380 pages April 2011, ©2010 £34.99 / €42.00 Table Of Contents List of Abbreviations. 1 Introduction. Introduction. 1.1 Reasoning behind the Book. 1.2 The IIA Standards and Links to the Book. 1.3 How to Navigate around the Book. 1.4 The Essential Guide as a Development Tool. 1.5 The Development of Internal Auditing. Summary and Conclusions. Endnotes. 2 Corporate Governance Perspectives. Introduction. 2.1 The Agency Model. 2.2 Corporate Ethics and Accountability. 2.3 International Scandals and Their Impact. 2.4 Models of Corporate Governance. 2.5 The Institute of Internal Auditors. 2.6 The External Audit. 2.7 The Audit Committee. 2.8 Internal Audit. 2.9 The Link to Risk Management and Internal Control. 2.10 Reporting on Governance, Risk and Internal Controls. 2.11 New Developments. Summary and Conclusions. Endnotes. 3 Managing Risk. Introduction. 3.1 What is Risk? 3.2 The Risk Challenge. 3.3 Risk Management Process. 3.4 Mitigation through Controls. 3.5 Risk Registers and Appetites. 3.6 The Risk Policy. 3.7 Enterprise-Wide Risk Management. 3.8 Control Self-Assessment. 3.9 Embedding Risk Management. 3.10 The Internal Audit Role in Risk Management. 3.11 New Developments. Summary and Conclusions. Endnotes. 4 Internal Controls. Introduction. 4.1 Why Controls?

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4.2 Control Framework – COSO. 4.3 Control Framework – CoCo. 4.4 Other Control Models. 4.5 Links to Risk Management. 4.6 Control Mechanisms. 4.7 Importance of Procedures. 4.8 Integrating Controls. 4.9 The Fallacy of Perfection. 4.10 The Complete Control Model. 4.11 New Developments. Summary and Conclusions. Endnotes. 5 The Internal Audit Role. Introduction. 5.1 Defining Internal Audit. 5.2 The Four Main Elements. 5.3 The Audit Charter. 5.4 Audit Services. 5.5 Independence. 5.6 Audit Ethics. 5.7 Police Officer versus Consultant. 5.8 Managing Expectations through Web Design. 5.9 Audit Competencies. 5.10 Training and Development. 5.11 New Developments. Summary and Conclusions. Endnotes. 6 Professionalism. Introduction. 6.1 Audit Professionalism. 6.2 Internal Auditing Standards. 6.3 Due Professional Care. 6.4 Professional Consulting Services. 6.5 The Quality Concept. 6.6 Supervision. 6.7 Internal Review. 6.8 External Reviews. 6.9 Marketing the Audit Role. 6.10 Creating the Audit Image. 6.11 New Developments. Summary and Conclusions. Endnotes. 7 The Audit Approach. Introduction. 7.1 The Risk-Based Systems Approach. 7.2 Control Risk Self-Assessment (CRSA). 7.3 The CRSA Process. 7.4 Integrating Self-Assessment and Audit. 7.5 Fraud Investigations. 7.6 Information Systems Auditing. 7.7 Compliance. 7.8 Value for Money (VFM). 7.9 The Consulting Approach. 7.10 The ‘Right’ Structure. 7.11 New Developments. Summary and Conclusions. Endnotes. 8 Setting an Audit Strategy.

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Introduction. 8.1 Risk-Based Strategic Planning. 8.2 Resourcing the Strategy. 8.3 Managing Performance. 8.4 The Auditor Appraisal Scheme. 8.5 Methods of Staff Appraisal. 8.6 The Audit Manual. 8.7 Time Monitoring System. 8.8 Audit Planning Process. 8.9 The Annual Audit Plan. 8.10 The Quarterly Audit Plan. 8.11 New Developments. Summary and Conclusions. Endnotes. 9 Audit Fieldwork. Introduction. 9.1 Planning the Audit. 9.2 Interviewing Skills. 9.3 Ascertaining the System. 9.4 Evaluation. 9.5 Testing Strategies. 9.6 Evidence and Working Papers. 9.7 Statistical Sampling. 9.8 Audit Testing and Statistical Sampling. 9.9 Reporting Results of the Audit. 9.10 Structuring the Audit Report. 9.11 Audit Committee Reporting. 9.12 New Developments. Summary and Conclusions. Endnotes. 10 Meeting the Challenge. Introduction. 10.1 The New Dimensions of Internal Auditing. 10.2 The Audit Reputation. 10.3 Globalization. 10.4 Providing Audit Assurances. 10.5 Meeting the Challenge. Summary and Conclusions. Endnotes. Appendix A Auditing the Risk Management Process: A Case Study. Index. Author Information K.H. Spencer Pickett has an international reputation as a leading author on the subject of internal auditing and specializes in the development of E-learning resources.

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Migration in the 21st Century Rights, Outcomes, and Policy Edited by Thomas N. Maloney, Kim Korinek

Published 24th August 2010 by Routledge – 304 pages Hardback: 978-0-415-77914-2: £95.00

Description In this volume, we examine the challenges and opportunities created by global migration at the start of the 21st century. Our focus extends beyond economic impact to questions of international law, human rights, and social and political incorporation. We examine immigrant outcomes and policy questions at the global, national, and local levels. Our primary purpose is to connect ethical, legal, and social science scholarship from a variety of disciplines in order to raise questions and generate new insights regarding patterns of migration and the design of useful policy. While the book incorporates studies of the evolution of immigration law globally and over the very long term, as well as considerations of the magnitude and determinants of immigrant flows at the global level, it places particular emphasis on the growth of immigration to the United States in the 1990s and early 2000s and provides new insights on the complex relationships between federal and state politics and regulation, popular misconceptions about the economic and social impacts of immigration, and the status of 'undocumented' immigrants. Content Contributers 1. Introduction Kim Korinek and Thomas N. Maloney Part 1: International Law, Human Rights, and Migration in the Global Context 2. Living with Noncitizens: Migration, Domination and Human Rights James Bohman 3. The Rights of Aliens: Legal Regimes and Historical Perspectives Tony Anghie and Wayne

McCormack 4. How Should Corporate Social Responsibility Address Human Labor Migration and Human Rights in an Era of Globalization?Erin Ortiz, Esther Agyeman-Budu, and George Cheney Part 2: Migrant Impacts and Outcomes: Demographic, Economic, Political, and Social 5. Global Patterns of Migration,Richard

Bilsborrow 6. The Labor Market Effects of Immigration: A Unified View of Recent Developments Giovanni Peri 7. Bridging the Gap: Transnational and Ethnic Organizations in the Political Incorporation of Immigration in the United States Alejandro Portes, Cristina Escobar, and Renelinda Arana 8. Migrants, Migrant Communities, Social Capital, and Violence Benjamin N. Judkins and Stephen E. Reynolds 9. Pathways to College, to the Professoriate, and to a Green Card: Linking Research Practice on Immigrant Latino Youth Catherine R Cooper and Rebeca

Burciaga 10. Facts and Fictions of Unauthorized Immigration to the US Patricia-Fernandez-Kelly Part 3: Rights, Outcomes, and Policy at the State and Local Level: A Case Study of Utah 11. Driving in a New Immigrant Destination: Migrant Rights and State-level Policy Julie Stewart and Ken Jameson 12. Legal Status and Economic Mobility among Immigrants in the Early Twenty-First Century: Evidence from the 'New Gateway' of UtahThomas N. Maloney, Thomas Kontuly 13. Trapped in Resettlement! What Integration for Refugees in Utah? MacLeans Geo-JaJa Part 4: Summary: What Have We Learned? 14. Immigration in the Early 21st Century: Lessons from a Multi-Disciplinary Investigation, Kim Korinek and Thomas N. Maloney About Author Thomas N. Maloney is Associate Professor in the Department of Economics at the University of Utah. Kim Korinek is Assistant Professor in the Department of Sociology at the University of Utah. Kim Korinek is an Assistant Professor in the Department of Sociology and an AssistantInvestigator in the Institute of Public and International Affairs at the University. Subject Economic Geography Labour Economics International Economics Urban Economics Social Policy Human Rights

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The Global Financial Crisis Edited by Mark Taylor, Richard Clarida Published 1st October 2010 by Routledge – 194 pages Recommend to Librarian Hardback: 978-0-415-58914-7: £80.00

Description The global financial crisis has sent shockwaves through the world’s economies, and its effects have been deep and wide-reaching. This book brings together a range of applied studies, covering a range of international and regional experience in the area of finance in the context of the global downturn. The volume includes an exploration of the impact of the crisis on capital markets, and how corporate stakeholders need to be more aware of the decision-making processes followed by corporate executives, as well as an analysis of the policy changes instituted by the Fed and their effects. Other issues covered include research into the approach of solvent banks to toxic assets, the determinants of US interest rate swap spreads during the crisis, a new approach for estimating Value-at-Risk, how distress and lack of active trading can result in systemic panic attacks, and the dynamic interactions between real house prices, consumption expenditure and output. Highlighting the global reach of the crisis, there is also coverage of recent changes in the cross-currency correlation structure, the costs attached to global banking financial integration, the interrelationships among global stock markets, inter-temporal interactions between stock return differential relative to the US and real exchange rate in the two most recent financial crises, and research into the recent slowdown in workers’ remittances. This book was published as a special issue of Applied Financial Economics. Content 1. Introduction: The Global Financial Crisis: Introduction and Overview M. P. Taylor 2. What were They Thinking? Reports from Interviews with Senior Finance Executives in the Lead-Up to the GFC L. Coleman and S. Pinder 3. How Did the Fed Do? An Empirical Assessment of the Fed’s New Initiatives in the Financial Crisis A. Mamun, M. K. Hassan and M. Johnson 4. The Put Problem with Buying Toxic Assets L. Wilson 5. Global Financial Crisis and US Interest Rate Swap Spreads T. Ito 6. Were there Warning Signals from Banking Sectors for the 2008/2009 Global Financial Crisis? J. L. Simpson 7. Extreme Value Modelling for Forecasting Market Crisis Impacts X. Zhao, C. Scarrott, L. Oxley and M. Reale 8. The Correlation Structure of FX Option Markets Before and Since the Financial Crisis G. Chalamandaris and A. E. Tsekrekos 9. Global Capital Market Interdependence and Spillover Effect of Credit Risk: Evidence from the 2007–2009 Global financial crisis W. Cheung, S. Fung and S.-C. Tsai 10. A simple model of trading and Pricing Risky Assets Under Ambiguity: Any Lessons for Policymakers? M. Guidolin and F. Rinaldi 11. Comparing the Performance of Relative Stock Return Differential and Real Exchange Rate in Two Financial Crises D. K. T. Wong and K.-W. Li 12. Permanent and Transitory Dynamics in House Prices and Consumption: Some Implications for the Real Effects of the Financial Crisis F. C. Bagliano and C. Morana 13. Another Consequence of the Economic Crisis: A Decrease in Migrants’ Remittances I. Ruiz and C. Vargas-Silva About Author

Mark P. Taylor, University of Warwick, UK.

Richard H. Clarida, Columbia University, USA.

Subject Macroeconomics Economic Forecasting International Finance Banking Credit & Credit Institutions Corporate Finance Strategic Management

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Towards New Developmentalism Market as Means rather than Master Edited by Shahrukh Rafi Khan, Jens Christiansen Published 2nd September 2010 by Routledge – 304 pages Series: Routledge Studies in Development Economics Recommend to Librarian Hardback: 978-0-415-77984-5: £95.00 Description The global financial and economic crisis starting in 2007 has provoked the exploration of alternatives to neo-liberalism. Although neo-liberalism has been critiqued from various perspectives, these critiques have not coalesced into a concrete alternative in development economics literature. The main objective of this book is to name and formulate this alternative, identify what is new about this viewpoint, and project it on to the academic landscape. This book includes contributions from many prominent development economists who are unified by a form of "developmental pragmatism". Their concern is with the problems of development that preoccupied the pioneers of economic development in the mid-twentieth century, known as the developmentalists. Like the developmentalists, the contributors to Towards New Developmentalism are policy-oriented and supportive of institutional development and engagement with economic globalization. This collection has an over-arching concern with promoting social justice, and holds the general view of the market as the means to affecting an alternative program of development rather than as a master whose dictates are to be obeyed without question. This important collection sets the agenda for new developmentalism, drawing on issues such as industrial policy, technology, competition, growth and poverty. In broad terms, the economic development debate is cast in terms of whether the market is the master, an ideological neo-liberal perspective, or the means to affect change as suggested by the pragmatic perspective that is being termed neo-developmentalism. This book will be valuable reading to postgraduates and researchers specialising in the area of development studies including within economics, international relations, political science and sociology. Content Part 1: Introduction 1. Exploring and naming an economic development alternative Shahrukh Rafi Khan Part 2: Conceptual issues and a new developmentalist agenda 2. The market as means rather than master: The crisis of development and the future role of the state Robert Wade 3. Hamlet without the Prince of Denmark: How development has disappeared from today’s ‘development’ discourse Ha-Joon Chang 4. The economics of failed, failing, and fragile states: productive structure as the missing link Erik S. Reinert, Yves Ekoué Amaïzo, and

Rainer Kattel Part 3: Neo-liberal constraints on the policy agenda 5. The pernicious legacy of the rent-seeking paradigm Helen Shapiro 6. Cementing neo-liberalism in the developing world: Ideational and institutional constraints on policy space Ilene Grabel 7. Domestic resource mobilization for a new-developmentalist strategy in the age of globalization: The fiscal space dilemma in Latin America Luis Abugattas

and Eva Paus 8. Investment treaties as a constraining framework Gus Van Harten Part 4: Case studies in pro-active government 9. Government reform and industrial development in China and Mexico Kevin P. Gallagher

and M. Shafaeddin10. Growth and development in Africa: Challenges and opportunities Leonce Ndikumana Part 5: Conclusion: moving to alternatives 11. Climate-resilient industrial development paths: design principles and alternative models Lyuba Zarsky 12. Towards new developmentalism: context, program and constraints Shahrukh Rafi Khan

About Author Shahrukh Rafi Khan is currently a Copeland Fellow at Amherst College, USA. Jens Christiansen is a Professor of Economics at Mount Holyoke College, USA. Subject Development Studies Economic Theory & Philosophy Industrial Economics International Economics Development Economics

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Nepotism in Organizations Edited by Robert G. Jones

Published 6th September 2011 by Routledge Academic – 317 pages Hardback: 978-0-415-88276-7: £39.95

Description There is a huge elephant in the room: organizational decisions are often based on family relationships, rather than on the ‘rational’ approach advocated by many professionals. Textbooks on Human Resources, Management, Organizational Behavior, Economics, Public Administration, and a host of related areas seem to have entirely missed this important aspect of organizational decision making. This book seeks to change all of this. By clearly identifying and defining nepotism in organizations, this book pulls back the curtain on the primary basis for many of the important things that really happen in organizations, large and small. The authors skillfully weave examples of nepotism in real organizations with the usual scholarly textbook topics (hiring, leadership, employment law, career search, culture, etc.) in a way that defines an entire new field of quantitative organizational research. This new book, in SIOPs Organizational Frontiers series , represents the first time IO psychologists have looked at the important subject of nepotism in organizations. Reviews "Nepotism has probably been a common approach to employing people since the inclination to use organized

labor in order to get work done. But as made clear by this book edited by Bob Jones, it is also the modus operandi

of many businesses today, whether it’s an entrepreneur starting a business, a patriarch running a family firm or

even, in several parts of the world, a large multi-divisional enterprise. When it comes to having people work for us,

we often favor clansmen over strangers. The lesson is clear: anyone who wants to gain a more complete

understanding of the real "world" of work must definitely read this book." - Richard Klimoski, Dean of the School of Management, George Mason University, USA "In many organizations, the elephant in the room issue has been the brother-in-law in the room. With this volume,

we have the cogent and instructive treatment of organizational nepotism we’ve needed for so long." - Robert B. Cialdini, Author, Influence: Science and Practice "Most companies in the world are nepotistic and quite effective. Further, the longest-lived companies are

nepotistic, and they need to take survival into account when considering what performance really is all about, as

contrasted with milking the cow to death, which public companies are very good at. This subject has not been

covered well elsewhere and is a pervasive phenomenon about which there is little good scientific evidence and

scant philosophical argument." - Dr. Joseph Astrachan, Kennesaw State University, USA "This interesting and engaging book sheds further light on ‘the secret life of organizations’; it shows once more

that many real organizational practices are astonishingly self-defeating—something our textbooks deny but Freud

predicted." -Robert Hogan, PhD. , President, Hogan Assessments Content E. Salas, Series Foreword. Preface. R. G. Jones, Defining a Psychology of Nepotism. A. Gutman, Nepotism and Employment Law. P. W. Muchinsky, The Nepotistic Organization: What is This Place and How Do the People Make It? E. Van Hooft, T. Stout, Nepotism and Career Choice, Job Search, and Job Choice. M. W. Dickson, L. R. G.

Nieminen, B. J. Biermeier-Hanson, Nepotism and Organizational Homogeneity: How the ASA Process is Accelerated by Non-merit-based Decision-making. T. E. Becker, Nepotism and the Commitment of Relevant Parties. A. Masuda, M. Visio, Nepotism Practices and the Work-Family Interface. K. H. Mhatre, R. E. Riggio, H. R.

Riggio, Nepotism and Leadership. G. Wated, J. I. Sanchez, The Cultural Boundary of Managing Nepotism. B. H.

Mulder, A Model of Organizational Nepotism. R. G. Jones, Toward a New Understanding of Nepotistic Organizational Behavior.

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About Author Robert G. Jones is professor of psychology and department head at Missouri State University. After a first career in music and banking, Bob returned to school to get his PhD in industrial/organizational psychology from The Ohio State University in 1992. In this second career, Bob and his students, colleagues, and clients have dealt with a broad range of issues in selection and assessment. Most of this work has focused on understanding and managing the basis for applied, person-perception-based assessments, including emotive perception and prejudices. He has addressed these issues in various publications, numerous applied settings, and classrooms in the U.S., Australia, and the Netherlands. As Book Review Editor of Personnel Psychology (1994-2004), Bob had the pleasant task of reading lots of books, including the ones that inspired this one. Subject Personnel Selection, Assessment, and Human Resource Management Social Psychology of Organizations Organisational Behaviour

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A Contemporary Look at Organizational Justice Multiplying Insult Times Injury By Joel Brockner Published 26th April 2010 by Routledge Academic – 368 pages Hardback: 978-1-84872-832-5: £44.95

Description

This book is for scholars with an interest in the burgeoning area of theory and research on organizational

justice. The ideas it describes forge connections between the justice literature and other prominent bodies of

knowledge in organizational and social psychology, including those pertaining to trust, social identity,

attribution theory, regulatory focus theory and cross-cultural differences in people's beliefs and behaviors.

Though intended primarily for researchers, this book is written in a very accessible way, so that informed

practitioners will gain considerable value from it.

Reviews

"This is a huge achievement. The book is worthwhile reading for professionals and scientific researchers in the

fields of organizational behavior, human resource management, social psychology and other fields pertaining to

how people react to both the outcomes and the processes they are getting from social and work relationships. The

author has made sure that he includes all the recent insights pertaining to these issues, making this a "must read"

for all those interested in organizational and justice related domains." - Kees van den Bos, Department of Social

and Organizational Psychology, Utrecht University, The Netherlands

"In this book, Joel Brockner provides an incredibly comprehensive review and update of the status of research on

organizational justice. The value of such a review and update should not be underestimated: the process X

outcome interaction, included in this book, describes a critical phenomenon that is relevant to a broad range of

issues within the social sciences and which more fundamentally strikes at the core of the psychology of people in

group contexts." - Lyman Porter, University of California, Irvine, USA

"Too many statements in the justice literature oversimplify effects and make pronouncements in support of the

author’s favorite perspective. Brockner moves beyond simple conclusions to tell us when different aspects of justice

will be most critical in the eyes of the recipients of the justice and in the eyes of third parties. This book is an

important contribution to the justice literature." - Max H. Bazerman, Harvard Business School, USA, Co-author

of Judgment in Managerial Decision Making and Negotiation Genius

"In this definitive reference, Brockner brings together decades of research on the process fairness x outcome

favorability interaction--arguably the most well-replicated interaction in modern organizational behavior. He

reviews classic explanations for the form and shape of the effect, while integrating new theorizing on stress,

emotions, morality, and status. The book’s seven chapters are well-organized and complete, with engaging writing

that balances theoretical insights with practical implications. At a time when economic realities are making

outcomes more and more unfavorable, understanding the power of process fairness is vital for scholars and

managers alike. This promises to be a must-own for any reader interested in research and practice on

organizational justice." - Jason A. Colquitt, University of Florida, USA

"For decades, Joel Brockner has been among the world’s leading researchers in the area of procedural justice. His

theoretical and empirical contributions have shaped the field, and helped establish the study of procedural justice

as a major area of social science inquiry. Now Brockner, in a truly stunning scholarly tour de force, pulls together

the many strands of his contributions in a rich and powerful framework. This book will guide where the field goes

for years to come." - Roderick M. Kramer, William R. Kimball Professor of Organizational Behavior, Stanford

Business School, USA

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Content

1. Introduction. 2. High Process Fairness Reduces the Effect of Outcome Favorability (Part A). 3. High Process

Fairness Reduces the Effect of Outcome Favorability (Part B). 4. High Process Fairness Heightens the Effect of

Outcome Favorability. 5. Accounting for Both Interaction Effects. 6. Casting the Process/Outcome Interaction

Effects More Broadly. 7. Practical Applications. Appendix to Chapter 1. References.

About Author

Joel Brockner is currently the Phillip Hettleman Professor of business at Columbia University and Professor of

Psychology and Education in the department of Organization and Leadership, Teachers College. His graduate

and PhD were in the area of Personality and Social Psychology from Tufts University. He has been elected as

Fellow of the APA and Academy of Management. His past books include Brockner / Rubin: Entrapment in

Escalating Conflicts, Springer Verlag, 1985 and Brockner: Self –Esteem at Work: Research, Theory and Practice,

Lexington Books, 1988.

Subject

1. Social Psychology of Organizations

2. Work & Organizational Psychology

3. Marketing

The Reviewer’s Guide to Quantitative Methods in the Social Sciences

Edited by Gregory R. Hancock, Ralph O. Mueller Published 12th February 2010 by Routledge – 432 pages Paperback: 978-0-415-96508-8: £44.99 Hardback: 978-0-415-96507-1: £135.00

Description The Reviewer’s Guide to Quantitative Methods in the Social Sciences is designed for evaluators of research manuscripts and proposals in the social and behavioral sciences, and beyond. Its thirty-one uniquely structured chapters cover both traditional and emerging methods of quantitative data analysis, which neither junior nor veteran reviewers can be expected to know in detail. The book updates readers on each technique’s key principles, appropriate usage, underlying assumptions, and limitations. It thereby assists reviewers to offer constructive commentary on works they evaluate, and also serves as an indispensable author’s reference for preparing sound research manuscripts and proposals. Key features include: The chapters cover virtually all of the popular classic and emerging quantitative techniques, thus helping reviewers to evaluate a manuscript’s methodological approach and its data analysis. In addition, the volume serves as an indispensable reference tool for those designing their own research. For ease of use, all chapters follow the same structure: the opening page of each chapter defines and explains the purpose of that statistical method the next one or two pages provide a table listing various criteria that should be considered when evaluating and applying that methodological approach to data analysis the remainder of each chapter contains numbered sections corresponding to the numbered criteria listed in the opening table. Each section explains the role and importance of that particular criterion. Chapters are written by methodological and applied scholars who are expert in the particular quantitative method being reviewed. Content

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1. Analysis of Variance: Between-Groups Designs Alan J. Klockars 2. Analysis of Variance: Repeated Measures Designs Lisa M. Lix and H.J. Keselman 3. Canonical Correlation AnalysisXitao Fan & Timothy R. Konold 4. Cluster Analysis Dena Pastor 5. Correlation and Other Measures of Association Jason W. Osborne 6. Discriminant

Analysis Carl J. Huberty 7. Effect Sizes and Confidence Intervals Geoff Cumming and Fiona Fidler 8. Factor Analysis: Exploratory and Confirmatory Deborah L. Bandalos and Sara J. Finney 9. Generalizability Theory Amy

Hendrickson and Ping Yin 10. Hierarchical Linear Modeling D. Betsy McCoach 11. Interrater Reliability William T.

Hoyt 12. Item Response Theory R.J. De Ayala 13. Latent Class AnalysisKaren M. Samuelsen and C. Mitchell Dayton

14. Latent Growth Curve Models Kristopher J. Preacher 15. Latent Transition Analysis David Rindskopf 16. Latent Variable Mixture ModelsGitta Lubke 17. Logistic Regression Ann A. O’Connell and K. Rivet Amico 18. Log-Linear

Analysis, Ronald C. Serlin and Michael A. Seaman 19. Meta-Analysis S. Natasha Beretvas 20.Multidimensional Scaling Mark L. Davison, Cody S. Ding and Se-Kang Kim 21. Multiple Regression Ken Kelley and Scott E.

Maxwell 22. Multitrait-Multimethod Analysis Keith F. Widaman 23. Multivariate Analysis of Variance Stephen

Olejnik 24. Power Analysis Kevin R. Murphy 25. Reliability and Validity of Instruments Thomas R. Knapp and

Ralph O. Mueller 26. Research Design Sharon A. Dannels 27. Single-Subject Design and Analysis Andrew L. Egel

and Christine H. Barthold 28. Structural Equation Modeling Ralph O. Mueller and Gregory R. Hancock 29. Structural Equation Modeling: Multisample Covariance and Mean StructuresRichard G. Lomax 30. Survey Sampling, Administration, and Analysis Laura M. Stapleton 31. Survival Analysis Paul D. Allison About Author Gregory R. Hancock is Professor and Chair of the Department of Measurement, Statistics, and Evaluation at the U. of Maryland and is Director of their Center for Integrated Latent Variable Research. Ralph O. Mueller is Professor and Dean of the College of Education, Nursing and Health Professions at the University of Hartford. Subject Higher Education Research Methods in Education Quantitative Methods Educational Research

A Student's Guide to the Study, Practice, and Tools of Modern Mathematics By Donald Bindner, Martin Erickson

Published 29th November 2010 by Chapman & Hall – 280 pages

Series: Discrete Mathematics and Its Applications Paperback: 978-1-43-

984606-3: £25.99

Description A Student’s Guide to the Study, Practice, and Tools of Modern Mathematics provides an accessible introduction to the world of mathematics. It offers tips on how to study and write mathematics as well as how to use various mathematical tools, from LaTeX and Beamer toMathematica® and Maple™ to MATLAB® and R. Along with a color insert, the text includes exercises and challenges to stimulate creativity and improve problem solving abilities. The first section of the book covers issues pertaining to studying mathematics. The authors explain how to write mathematical proofs and papers, how to perform mathematical research, and how to give mathematical presentations. The second section focuses on the use of mathematical tools for mathematical typesetting, generating data, finding patterns, and much more. The text describes how to compose a LaTeX file, give a presentation using Beamer, create mathematical diagrams, use computer algebra systems, and display ideas on a web page. The authors cover both popular commercial software programs and free and open source software, such as Linux and R. Showing how to use technology to understand mathematics, this guide supports students on their way to becoming professional mathematicians. For beginning mathematics students, it helps them study for tests and write papers. As time progresses, the book aids them in performing advanced activities, such as computer programming, typesetting, and research.

Reviews

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A Student’s Guide provides a useful service by gathering into one place information that students might otherwise be expected to learn by osmosis. —MAA Reviews, February 2011 Content THE STUDY AND PRACTICE OF MODERN MATHEMATICS Introduction How to Learn Mathematics Why Learn Mathematics? Studying Mathematics Homework Assignments and Problem Solving Tests Inspiration How to Write Mathematics What Is the Goal of Mathematical Writing? General Principles of Mathematical Writing Writing Mathematical Sentences Avoiding Errors Writing Mathematical Solutions and Proofs Writing Longer Mathematical Works The Revision Process How to Research Mathematics What Is Mathematical Research? Finding a Research Topic General Advice Taking Basic Steps Fixing Common Problems Using Resources Practicing Good Mathematical Judgment How to Present Mathematics Why Give a Presentation of Mathematics? Preparing Your Talk Do’s and Don’ts Using Technology Answering Questions Publishing Your Research Looking Ahead: Taking Professional Steps What Is It Like Being a Mathematician? Guide to Web Resources A Mathematical Scavenger Hunt Mathematicians Mathematical Concepts Mathematical Challenges Mathematical Culture Mathematical Fun THE TOOLS OF MODERN MATHEMATICS Introduction Getting Started with LaTeX What Is TeX? What Is LaTeX? How to Create LaTeX Files How to Create and Typeset a Simple LaTeX Document How to Add Basic Information to Your Document How to Do Elementary Mathematical Typesetting How to Do Advanced Mathematical Typesetting How to Use Graphics How to Learn More Getting Started with PSTricks

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What Is PSTricks? How to Make Simple Pictures How to Plot Functions How to Make Pictures with Nodes How to Learn More Getting Started with Beamer What Is Beamer? How to Think in Terms of Frames How to Set up a Beamer Document How to Enhance a Beamer Presentation How to Learn More Getting Started with Mathematica, Maple, and Maxima What Is a Computer Algebra System (CAS)? How to Use a CAS as a Calculator How to Compute Functions How to Make Graphs How to Do Simple Programming How to Learn More Getting Started with MATLAB and Octave What Are MATLAB and Octave? How to Explore Linear Algebra How to Plot a Curve in Two Dimensions How to Plot a Surface in Three Dimensions How to Manipulate the Appearance of Plots Other Considerations How to Learn More Getting Started with R What Is R? How to Use R as a Calculator How to Explore and Describe Data How to Explore Relationships How to Test Hypotheses How to Generate Table Values and Simulate Data How to Make a Plot Ready to Print How to Learn More Getting Started with HTML What Is HTML? How to Create a Simple Web Page How to Add Images to Your Web Pages How to Add Links to Your Web Pages How to Design Your Web Pages How to Organize Your Web Pages How to Learn More Getting Started with Geometer’s Sketchpad and GeoGebra What Are Geometer’s Sketchpad and GeoGebra? How to Use Geometer’s Sketchpad How to Use GeoGebra How to Do More Elaborate Sketches in Geometer’s Sketchpad How to Do More Elaborate Sketches in GeoGebra How to Export Images from Geometer’s Sketchpad and GeoGebra How to Learn More Getting Started with PostScript What Is PostScript? How to Use the Stack How to Make Simple Pictures How to Add Text to Pictures How to Use Programming Constructs How to Add Color to Pictures

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More Examples How to Learn More Getting Started with Computer Programming Languages Why Program? How to Choose a Language How to Learn More Getting Started with Free and Open Source Software What Is Free and Open Source Software? Why Use Free and Open Source Software? What Is Linux? How to Install Linux Where to Get Linux Applications How Is Linux Familiar? How Is Linux Different? How to Learn More Putting It All Together Bibliography Index Exercises appear at the end of each chapter. About Author Donald Bindner is an assistant professor of mathematics at Truman State University. He is an advocate of free software. Martin Erickson is a professor of mathematics at Truman State University. He has written several mathematics books, including Pearls of Discrete Mathematics (CRC Press, 2010) andIntroduction to Number Theory (CRC Press, 2008) with Anthony Vazzana. Subject General Physics

The Impact of China on Global Commodity Prices

The Disruption of the World’s Resource Sector By Masuma Farooki, Raphael Kaplinsky Published 10th November 2011 by Routledge – 210 pages Series: Routledge Studies in the Modern World Economy Hardback: 978-0-415-59789-0: £85.00 Description Drawing on a large number of diverse sources, How China Disrupted Global Commoditiescomprehensively and systematically evidences the trends in the prices of different sets of commodities, analyses the drivers of China’s demand for commodities the factors constraining global supply and in the role which the financialisation of commodities is playing in constraining commodity production. It also documents and the growing role of China as a foreign investor in the commodities sectors. All of these trends are woven together to explore the fabric of strategic choices confronting public and private sector decision-makers. Content 1. Back to Centre Stage 2. A New Driver in the Global Economy 3. Commodities and Economic Growth 4. China as a Driver of Demand for Commodities 5. A Lagged Supply Response and the Impact on Commodity Prices 6. The Financialisation of the Commodities Sectors 7. How are Stakeholders Responding to the Commodities Super Cycle? 8. The Reshaping of the Natural Resources Sector About Author

pg. 51

Masuma Farooki is a visiting Research Fellow at the Development Policy and Practice unit at The Open University, UK. Raphael Kaplinsky is Professor of Development Policy and Practise at the Open University, UK. Subject International Economics Development Economics Asian Economics Chinese Economics

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Utility-Based Learning from Data By Craig Friedman, Sven Sandow Published 12th August 2010 by Chapman & Hall – 417 pages Series: Chapman & Hall/CRC Machine Learning & Pattern Recognition Hardback: 978-1-58488-622-8: £53.99 Description Utility-Based Learning from Data provides a pedagogical, self-contained discussion of probability estimation methods via a coherent approach from the viewpoint of a decision maker who acts in an uncertain environment. This approach is motivated by the idea that probabilistic models are usually not learned for their own sake; rather, they are used to make decisions. Specifically, the authors adopt the point of view of a decision maker who (i) operates in an uncertain environment where the consequences of every possible outcome are explicitly monetized, (ii) bases his decisions on a probabilistic model, and (iii) builds and assesses his models accordingly. These assumptions are naturally expressed in the language of utility theory, which is well known from finance and decision theory. By taking this point of view, the book sheds light on and generalizes some popular statistical learning approaches, connecting ideas from information theory, statistics, and finance. It strikes a balance between rigor and intuition, conveying the main ideas to as wide an audience as possible. Reviews Utility-Based Learning from Data is an excellent treatment of data-driven statistics for decision-making. Friedman and Sandow lucidly describe the connections between different branches of statistics and econometrics, such as utility theory, maximum entropy, and Bayesian analysis. A must-read for serious statisticians! —Marco Avellaneda, Professor of Mathematics, New York University, and Risk Magazine Quant of the Year 2010 Combining insights from both theory and practice, this is a model trade book about modeling trading books. —Peter Carr, Global Head of Market Modeling, Morgan Stanley, and Executive Director, Masters in Math Finance, New York University Utility-Based Learning from Data connects key ideas from utility theory with methods from statistics, machine learning, and information theory. It presents, using decision-theoretic principles, a framework for building models that can be used by decision makers. By adopting the utility-based approach, Friedman and Sandow are able to adapt models to the risk preferences of the model user, while maintaining tractability. It is a much-needed and comprehensive book, which should help put model-building for use by decision makers on more solid ground. —Gregory Piatetsky-Shapiro, editor of KDnuggets.com, co-founder and past Chair of SIGKDD, and founder of the Knowledge Discovery and Data Mining (KDD) conferences Content Introduction Notions from Utility Theory Model Performance Measurement Model Estimation The Viewpoint of This Book Organization of This Book Examples Mathematical Preliminaries

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Some Probabilistic Concepts Convex Optimization Entropy and Relative Entropy The Horse Race The Basic Idea of an Investor in a Horse Race The Expected Wealth Growth Rate The Kelly Investor Entropy and Wealth Growth Rate The Conditional Horse Race Elements of Utility Theory Beginnings: The St. Petersburg Paradox Axiomatic Approach Risk Aversion Some Popular Utility Functions Field Studies Our Assumptions The Horse Race and Utility The Discrete Unconditional Horse Races Discrete Conditional Horse Races Continuous Unconditional Horse Races Continuous Conditional Horse Races Select Methods for Measuring Model Performance Rank-Based Methods for Two-State Models Likelihood Performance Measurement via Loss Function A Utility-Based Approach to Information Theory Interpreting Entropy and Relative Entropy in the Discrete Horse Race Context (U,O)-Entropy and Relative (U,O)-Entropy for Discrete Unconditional Probabilities Conditional (U,O)-Entropy and Conditional Relative (U,O)-Entropy for Discrete Probabilities U-Entropy for Discrete Unconditional Probabilities Utility-Based Model Performance Measurement Utility-Based Performance Measures for Discrete Probability Models Revisiting the Likelihood Ratio Utility-Based Performance Measures for Discrete Conditional Probability Models Utility-Based Performance Measures for Probability Density Models Utility-Based Performance Measures for Conditional Probability Density Models Monetary Value of a Model Upgrade Some Proofs Select Methods for Estimating Probabilistic Models Classical Parametric Methods Regularized Maximum Likelihood Inference Bayesian Inference Minimum Relative Entropy (MRE) Methods A Utility-Based Approach to Probability Estimation Discrete Probability Models Conditional Density Models Probability Estimation via Relative U-Entropy Minimization Expressing the Data Constraints in Purely Economic Terms Some Proofs Extensions Model Performance Measures and MRE for Leveraged Investors Model Performance Measures and MRE for Investors in Incomplete Markets Utility-Based Performance Measures for Regression Models Select Applications Three Credit Risk Models The Gail Breast Cancer Model A Text Classification Model References

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Index Exercises appear at the end of most chapters. About Author Craig Friedman is a managing director and head of research in the Quantitative Analytics group at Standard & Poor’s in New York. Dr. Friedman is also a fellow of New York University’s Courant Institute of Mathematical Sciences. He is an associate editor of both the International Journal of Theoretical and Applied Finance and the Journal of Credit Risk. Sven Sandow is an executive director in risk management at Morgan Stanley in New York. Dr. Sandow is also a fellow of New York University’s Courant Institute of Mathematical Sciences. He holds a Ph.D. in physics and has published articles in scientific journals on various topics in physics, finance, statistics, and machine learning. The contents of this book are Dr. Sandow’s opinions and do not represent Morgan Stanley Subject Financial Mathematics Machine Learning Data Preparation & Mining

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Energy, Foresight,

and Strategy By Thomas J. Sargent Published 1st January 1985 by RFF Press – 224 pages Paperback: 978-0-915707-10-2: £19.99 Description In Energy, Foresight, and Strategy, Thomas Sargent and his collaborators have produced a highly rigorous treatment of 'rational expectations' theory and its application to the study of energy markets. These six essays use dynamic games to study a variety of issues important to analysts and decisionmakers in the energy field. Content 1. Energy, Foresight, and Strategy Thomas J. Sargent 2. Embargoes and Supply Shocks in a Market with a Dominant Seller S. Rao Aiyagari and Raymond G. Riezman 3. Oil Supply Disruptions and the Optimal Tariff in a Dynamic Stochastic Equilibrium Model Zvi Eckstein and Martin S. Eichenbaum 4. Inventories and Quantity-Constrained Equilibria in Regulated Markets: The U.S. Petroleum Industry, 1947-1972 Zvi Eckstein and Martin S. Eichenbaum 5. Linear-Quadratic Duopoly Models of Resource Depletion Lars Peter Hansen, Dennis Epple, and William Roberds 6. The Econometrics of Exhaustible Resource Supply: A Theory and an Application Dennis Epple Subject Economics Environmental Economics Environment & Economics

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Lean Management Principles for Information

Technology

Resource Management Published: July 28, 2011 by CRC Press - 368 Pages Authored By: Gerhard J. Plenert, MainStream GS, LLC, Carmichael, California,

USA Hardback £49.99 ISBN 9781420078602 Cat# AU7860 Description Features Walks readers through the processes of implementing Lean principles in IT Demonstrates the measures that define a world-class Lean IT supply chain management system Includes case studies from a range of industries and countries that show how Lean practices have been used to make IT world class Covers the implementation of Lean with IT personnel for continuous improvement of IT personnel Explains how to implement Lean in the supply chain, while reducing IT cycle time and costs Summary Whether it's because of a lack of understanding, poor planning, or a myriad of other things, 50 to 60 percent of the IT effort in most companies can be considered waste. Explaining how to introduce Lean principles to your IT functions to reduce and even eliminate this waste, Lean Management Principles for Information Technology provides the tools and understanding to make better decisions, increase efficiencies, and make IT a major force in delivering sustainable improvements to your supply chain. The proven Toyota Production System principles described in this book have already helped many IT organizations double and triple their output. It introduces some of the most powerful Lean tools and techniques—including Six Sigma, value stream mapping, and spaghetti charting—and provides a methodology for implementing them to reduce waste in your IT environment. Discussing information production processes, IT systems, and change management through the lens of Lean principles, the book: Provides step-by-step guidance through the processes of implementing Lean principles in your IT supply chain management system Illustrates successful implementation across a range of industries and countries Examines how to use Lean methods to achieve ongoing improvement in IT personnel Explains how to implement Lean in the supply chain, while reducing IT cycle time and costs The text reviews the major management challenges facing IT and illustrates solutions with stories, examples, and case studies of how Lean IT has led to unprecedented improvements in the private and government sectors. Demonstrating how to structure the components of your IT system in accordance with Lean, the book details the measures required to achieve and sustain a world-class Lean IT supply chain management system. Table of Contents WHY A BOOK ON LEAN INFORMATION TECHNOLOGY? Why Look at IT? What Is the Problem? Some Examples So What Does Lean Bring to the Table? What Does an IT System Look Like? IT Issues to Avoid A New Directive for IT Organizations IT Background The Twenty-First Century Enterprise The IT Evolution The Enterprise Role of IT The Twenty-First Century Enterprise and IT Case Study: Wipro

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Are We "Doing the Right Things?" A3 Problem Analysis The A3 Steps "Team Members" Box "Approval Information/Signatures" Box "Clarify and Validate the Problem" Box "Perform a Purpose Expansion on the Problem" Box Break Down the Problem/Identify Performance Gaps" Box "Set Improvement Targets" Box "Determine Root Cause" Box "Develop Improvement Task List" Box "Execute Improvement Tasks" Box "Confirm Results" Box "Standardize Successful Processes" Box Using the 9-Step A3 Tool What Loop Am I In? Case Study: Wipro (Continued) The Art of Managing Change A Discussion of Change Models for Change Innoveering How Do We Manage Change? The People The Circle Goal Setting Leadership Values and Ethics Add Value to Society As an Enterprise Continuous Learning Innovation and Change Creation Measuring/Rewarding Stake Holders Successful Change Management Some Models for Change Quality Functional Deployment (QFD) Total Quality Management (TQM) The TQM Process Systematic Problem Solving (SPS) at AT&T The Good News about TQM Process Reengineering ISO 9000 CAP Kotter USAF 8-Step Understanding Change IT Pitfalls Case Study: Wipro (Continued) BRINGING LEAN INTO INFORMATION TECHNOLOGY? How Can Lean Help IT? Leaning IT Measurable Benefits of Applying Lean to IT How IT is Changing Case Study: Wipro (continued) Some Final Thoughts What is Lean? Defining Lean The Key Principles of Lean Define "Value" from the Customer’s Perspective

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Define the Process by Looking at and Analyzing All the Pieces of the SIPOC Remove Obstacles (Bottlenecks) That Disrupt the Value Flow Drive Product and Service Flow at the "Pull" of the Customer Empower Employees in the Change Process through Teaming Build a Strategic Plan Lean Tools Acceptance Tools Acceptance Tool #1—Breakthrough Thinking/Concept Management/Purpose Expansion Acceptance Tool #2—Team Effectiveness Surveys Goals and Objectives Roles and Responsibilities Enthusiasm and Motivation Trust and Openness Leadership and Direction Information and Communication Acceptance Tool #3—Change Readiness Surveys Acceptance Tool #4—Myers Briggs Acceptance Tool #5—JoHari Window Technical Tools Technical Tool #1—7 Wastes Overproduction Waiting Unnecessary Transportation Overprocessing Excess Inventory Unnecessary Movement by Employees Production of Defective Parts Underused Employee Abilities or Creativity Technical Tool #2—Value Stream Mapping (Current State/Ideal State/Future State) Mapping the Process Preparation Mapping Process Ideal State Value Stream Map/Future State Value Stream Map Develop an Action Item List of Improvement Opportunities Classify the Action Item List Select Improvement Events Based on the Highest Priority Areas of Improvement Technical Tool #3—SIPOC (Supplier/Input/Process/Output/Customer) Technical Tool #4—SWOT (Strengths/Weaknesses/Opportunities/Threats) Technical Tool #5—VOC (Voice of the Customer) Technical Tool #6—Systems Flowchart/Information Flow Diagrams Technical Tool #7—Gemba Walk (Go and See Analysis) Technical Tool #8—B-SMART Targets Technical Tool #9—JIT (Just-In-Time)/Kanban/Cells Technical Tool #10—Spaghetti Chart Technical Tool #11—Lean Events/RIE (Rapid Improvement Events)/Kaizen Events Technical Tool #12—Improvement Project Technical Tool #13—Just-do-It Technical Tool #14—5S Sort Set in Order (Straighten) Shine Standardize Sustain A Sixth "S"—Safety Technical Tool #15—Poka-Yoke Technical Tool #16—Six Sigma/DMAIC

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Technical Tool #17—TPM (Total Product Maintenance) Technical Tool #18—Standard Work Technical Tool #19—5 Whys Technical Tool #20—Brainstorming Technical Tool #21—Fishbone Charts Technical Tool #22—Pareto Charts Technical Tool #23—Affinity Diagrams Technical Tool #24—Control Charts Technical Tool #25—PICK (Possible, Implement, Challenge, Kill) Chart/Impact/Effort Matrix Technical Tool #26—Theory of Constraints (TOC)/Bottleneck Analysis Management Philosophy Operating Principles Technical Tool #27—Project Charter Sustainment Comparison of Methods Some Success Stories Case Study: Wipro (Continued) Summary Appendix 6-A The JoHari Window Assessment Test Directions Interpretation JoHari Window Test References Are We Working on the Correct Problem? Or Are We Creating More Problems? A Quick Review of A3 Problem Analysis The A3 Steps The Two Case Examples Case #1 Project Charter Facilitator Activities Event Pre-Work Event Execution Contents of the A3 Post-Event Activities Case #2 Project Charter Facilitator Activities RIE Event Pre-Work Event Execution Post-Event Activities Using the 9-Step A3 Tool The Lean IT Event The RIE The Role of the Facilitator Lean Training Lean Tools How the Lean Process Works Acceptance Stage Technical Stage Sustainment Stage Case Study: Wipro (Continued) Meaningful Metrics The Role and Purpose of Measures The Role and Purpose of Control Systems An Industrial Example—Managing Your Supply Chain Using Event Management Defining the Measurement System

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What is the Best Measure for your Organization? Measurement Reporting Tools LEAN INFORMATION TECHNOLOGY INTO THE FUTURE IT Maturity Evaluating Your World Class Status IT Best Practices Summary About Author Author Bio(s) Dr. Gerhard Plenert has 25+ years of professional experience in IT quality and productivity consulting and in working on manufacturing planning and scheduling methods. He has 13 years of academic experience and has over 150 published articles and nine books: EManager: Value Chain Management in an eCommerce World—2001 Finite Capacity Scheduling (an APICS / Oliver White Series Book)—2000 International Management and Production: Survival Techniques for Corporate America International Operations Management (an MBA textbook)—2004 Making Innovation Happen: Concept Management through Integration Operations Management (A United Nations Training Manual for Developing Country factories)—2005 The Plant Operations Deskbook (an APICS series book) Reinventing Lean; Introducing Lean Management into the Supply Chain—2007 World Class Manager Dr. Plenert has extensive industry experience, including: Private sector Kraft Foods, Smart and Final, Davis Lay, Ritz-Carlton, Hewlett-Packard, Seagate, Motorola, PPI, Clark Equipment, NCR Corporation, and AT&T Consulting companies—Infosys, Mainstream, AMS, IBM, SCI, SAS Corporate "guru" on supply chain management for AMS and Infosys Government sector California—DCSS, DHS Federal—DSS, US Air Force, Air Guard International—United Nations Texas—OAG New York—City of New York warehousing system Dr. Plenert has extensive academic experience: Ph.D. in mineral economics at the Colorado School of Mines, which is their operations and business management degree (under Gene Woolsey) Eleven years as a full-time faculty member (BYU and CSUC) Currently teaching SCM at the University of San Diego Teaching operations, manufacturing, and supply chain management as far away as Malaysia and England Dr. Plenert has: Worked in senior management Generated up to triple the office productivity with the same staffing Worked as an industry consultant implementing SCM, ERP, and eBusiness systems and designing a next-generation enterprise model Literally "written the book" on leading-edge supply chain management concepts like Finite Capacity Scheduling (FCS), Advanced Planning and Scheduling (APS), and World Class Management Taken a 14+% defect rate down to 2% Brought setup times from 20 minutes to as low as 6 minutes Reduced facility-wide inventories by 40% Dr. Plenert’s ideas and publications have been endorsed by people like Steven Covey and companies like Motorola, AT&T, Black & Decker, and FedEx.

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Errors in Organizations Edited by David A. Hofmann, Michael Frese Published 20th May 2011 by Routledge Academic – 383 pages Series: SIOP Organizational Frontiers Series Hardback: 978-0-8058-6291-1: £44.00 Description Despite the significance and prevalence of errors in organizations, there has been no attempt within the field of Industrial and Organizational Psychology to create a single source summarizing what we know regarding errors in organizations and providing a focused effort toward identifying future directions of research. This volume answers that need and provides contributions by researchers who have conducted a considerable amount of research on error occurring in the work context. Students, academics and practitioners in a wide range of disciplines, i.e., industrial organizational psychology, medicine, aviation, human factors and systems engineering, will find this book of interest. Reviews 'Attempts to manage human error in high-hazard domains were initially (and often still are) concentrated on what went on between the ears of the perpetrators. Remedial efforts focused on blaming, shaming, retraining and the like—but these measures largely isolated the people in question from the context in which the unsafe acts occurred. One of the most significant facts about errors is that the same kinds keep occurring in similar situations involving a wide range of different individuals. These recurrent ‘error traps’ make it clear that the origins of unsafe actions go well beyond the individual and encompass the workplace, the team dynamics and the organization as a whole—particularly its safety culture. This understanding has led to an increasing concern with the broader systemic issues. This collection is the latest and best of these systemic treatments, covering as it does the gamut of error research over the last 40 years. Hofmann and Frese have brought together within a single volume a glittering assembly of top-rank contributors. Their chapters provide fresh insights as well as providing a coherent account of these diverse contexts. This book will be essential reading for all error researchers of whatever disciplinary persuasion for many years to come.' - James Reason,

University of Manchester, UK 'If you think that all errors are to be prevented, think again. While recognizing that preventing errors is often beneficial, Hofmann and Frese provide extensive support for the fact that the goal of the elimination of all errors in organizations is neither possible nor desirable. Their edited book, with internationally acclaimed chapter authors, convincingly demonstrates the superiority of focusing on error management rather than error prevention for individuals, teams, and organizations in settings varying from IT software development to top management teams. This book is indispensible for anyone interested in understanding performance errors and harnessing them for attaining effective performance through training and the design of tasks, teams, organizations, or any other system.' - Daniel R. Ilgen, Michigan State University, USA 'With the unexpected seemingly becoming a larger chunk of everyday organizational life and growing evidence showing that crises and accidents often start with the small stuff, we can understand why scholarly interest in errors has mushroomed. Thus, David Hofmann and Michael Frese’s Errors in Organizations could not be more important or timelier. This comprehensive volume includes essays by a renowned set of scholars who provide not only keen insight into the phenomenon, but also shrewd guidance about future research avenues.' - Kathleen M. Sutcliffe, University of Michigan, USA Content E. Salas, Series Foreword. D.A. Hofmann, M. Frese, Introduction: Errors, Error Taxonomies, Error Prevention and Error Management: Laying the Groundwork for Discussing Errors in Organizations. N. Keith, Learning through Errors in Training. M. Hammond, J. Farr, The Role of Errors in the Creative and Innovative Process. S. Mousavi, G.

Gigerenzer, Revisiting the ‘Error’ in Studies of Cognitive Errors. B. Bell, S.W.J. Kozlowski, Cognitive Failure: The Emergence, Consequences, and Management of Errors in Teams. E. Salas, S.J. Weaver, W.L. Bedwell,Team Training as a Mechanism to Enhance Reliability and Manage Errors. L.H. MacPhail, A. Edmondson, The Importance of Work Context in Organizational Learning from Error. K. Shimizu, M.A. Hitt, Errors at the Top of the Hierarchy. E. Hollnagel, When Things Go Wrong: Failures as the Flip Side of Successes. R. Ramanujam, P.

Goodman, The Link between Organizational Errors and Adverse Consequences: The Role of Error-Correcting

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and Error-Amplifying Feedback Processes. M.J. Gelfand, M. Frese, Cultural Influences on Error: Prevention, Detection, and Management. M. Frese, D.A. Hofmann, Conclusions and Integration About Author David Hofmann is Area Chair and Professor of Organizational Behavior at the University of North Carolina at Chapel Hill’s Kenan-Flagler Business School. His research - focused on leadership, organizational climate, multi-level theory/methods, safety and human error - has appeared in Academy of Management Journal, Academy of

Management Review, Journal of Applied Psychology, Journal of Management, Organizational Behavior and Human

Decision Processes, and Personnel Psychology and other outlets. He teaches courses in organizational behavior and leadership and was formerly the Associate Dean for the full-time MBA program. David’s research on leadership, safety and human error in organizations led to a corporate partnership with Behavioral Science Technologies where he helped develop a cultural assessment tool that has now been completed by over 200,000 employees in 1,000 companies (including all NASA employees after the Columbia accident). In 2006, he was awarded the American Psychological Association’s Decade of Behavior Research Award. The APA honored the practical application of his research investigating leadership issues in high-risk industries, and he presented his findings at a Congressional briefing. Dr. Hofmann also received the Yoder-Heneman Research award from the Society of Human Resource Management and has been a Fulbright Senior Scholar. Currently, he is a member of the National Research Council / National Academy of Science’s committee investigating the BP Deepwater Horizon accident. He earned his PhD in industrial and organizational psychology from Pennsylvania State University, a master's degree in industrial and organizational psychology from the University of Central Florida and a bachelor's degree in business administration from Furman University. Prof. Dr. Michael Frese received his Diploma and Doctorate from the Free University of Berlin and Technical University Berlin respectively and holds a joint appointment at National University of Singapore, Business School and Leuphana University of Lueneburg (Germany). Before that, he held a chair for work and organizational psychology at University of Giessen and also taught at London Business School. Prof. Frese’s research spans a wide range of basic and applied topics within organizational behavior and work psychology. Most important are his longitudinal studies on psychological effects of unemployment, impact of stress at work, predictors of personal initiative, as well as psychological success factors of entrepreneurs. He is also known for his cross-national research on innovation. His field studies on errors, error management, error management culture also have received wide attention. In addition he is studying training - most importantly the concept of error management training, leadership training and psychological training for increasing entrepreneurial success and personal initiative. Most recently, he has done studies on cultural factors in organization and across nations, research that looks at psychological success factors in entrepreneurs in developing countries (Africa, Latin America, and Asia) and in Europe. Frese has authored more than 250 articles and was editor/author of more than 20 books and special issues. He was elected Fellow of the Society for Industrial and Organizational Psychology (Division 14 of the American Psychological Association). He is Germany’s most frequently cited work and organizational psychologist and business and management scientist and one of the most frequently cited Europeans. He has presented more than 25 invited keynote addresses. Prof. Frese now serves as field editor for Journal of Business Venturing. He was President of the International Association of Applied Psychology, editor of the journal APPLIED PSYCHOLOGY: An International Review, Co-Editor of Psychologische Rundschau, editorial board member of various book series (Entrepreneurship Series in Germany, SIOP Frontiers book series, Organization and Management Series (Routledge)) and member of several boards of journals. He also serves as consultant and lecturer to the management of many companies (among others banks, technology firms, automobile, utilities, telecommunication, and computer industry, with more than 200 talks given and consulting jobs done). Subject Stress and Emotion in the Workplace Work & Organizational Psychology Health & Safety

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The Joy of Work? Jobs, Happiness, and You By Peter Warr, Guy Clapperton Published 8th September 2009 by Routledge – 200 pages Paperback: 978-0-415-45966-2: £9.95 Hardback: 978-0-415-45965-5: £34.95 Description Are you happy at work? Or do you just grin and bear it? We spend an average of 25% of our lives at work, so it’s important to make the best of it. The Joy of Work? looks at happiness and unhappiness from a fresh perspective. It draws on up-to-date research from around the world to present the causes and consequences of low job satisfaction and gives helpful suggestions and strategies for how to get more enjoyment from work. The book includes many interesting case studies about individual work situations, and features simple self-completion questionnaires and procedures to help increase your happiness. Practical suggestions cover how to improve a job without moving out of it, advice about changing jobs, as well as how to alter typical styles of thinking which affect your attitudes. This book is unique. The subject is of major significance to virtually all adults - people in jobs and those who are hoping to get one. It is particularly distinctive in combining two areas that are usually looked at separately – self-help approaches to making yourself happy and issues within organizations that affect well-being. The Joy of Work? has been written in a relaxed and readable style by an exceptional combination of authors: a highly-acclaimed professor of psychology and a widely published business journalist. Bringing together research from business and psychology – including positive psychology – this practical book will make a big difference to your happiness at work – and therefore to your whole life. Reviews "The Joy of Work? is an excellent resource for both psychologists and the general public … [It is] easy to read, and

it contains a number of easy-to-complete questionnaires that the reader can use to evaluate happiness, job

characteristics, and other matters. … The material should be very informative and helpful for people who are

mature and at midcareer or beyond." - Jay C. Thomas and Tamara E. Tasker in PsycCRITIQUES "Warr and Clapperton successfully weave together the many and varied theories and approaches in this area to

produce a guide which should be helpful for occupational psychologists, HR professionals and managers within

organisations." – Emily Hutchinson, Chartered Occupational Psychologist, Consultant and Senior Lecturer, in The Psychologist "I would recommend this book to everyone - employee and manager alike. It will be particularly useful to

managers eager to avoid high levels of staff sickness and turnover, and who are looking to improve their staff

appraisal forms and exit interviews." – Greta McGough, teacher, in Nursing Standard "At a time when the attention of many is on the quantity of work, this book has a refreshing focus on its quality.

The authors ask some fundamental and challenging questions about the role of work in providing us with meaning

and as a source of happiness, and then make a thoughtful attempt to help the reader answer these questions.

Although solidly informed by the growing body of research in this important area, the authors skilfully manage to

make the book practical and accessible for those who want to understand both what can make a job a source of

fulfilment and satisfaction and how they might take more control of their working lives." - Stephen Bevan, Managing Director, The Work Foundation "The Joy of Work is a wonderful book. Drawing on important research findings from the fields of positive and

work psychology, Peter Warr and Guy Clapperton show us what we can realistically do to improve our well-being

at work. If you are wondering whether you should change jobs because you are unhappy, try the things in this book

before you make up your mind." - Professor Alan Carr, author of Positive Psychology "A remarkably easy and enjoyable read which will be appreciated by any ordinary, thinking person interested in

their own happiness and that of others. Whether you are satisfied and happy at work or not, you will take

something valuable from this book." - Michelle Bennett

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Content 1. Work and Happiness: An Unlikely Mix? 2. Why Work? 3. Feeling Good and Feeling Bad. 4. The Needed Nine Features. 5. What's in a Job? 1: Seeking a Happy Medium. 6. What’s in a Job? 2: When Enough is Enough. 7. It's in Your Genes as Well as Your Job. 8. Come to Think About It … Happiness is Relative. 9. Actions as Well as Words. 10. Worth a Try? About Author Peter Warr is Emeritus Professor at the Institute of Work Psychology at the University of Sheffield. Formerly Director of the Social and Applied Psychology Unit in that university (the world’s largest research institute in its field), he has undertaken research and consultancy in hundreds of organizations. Guy Clapperton has been a freelance business, technology and media journalist for 15 years. In 2008 he became a BAFTA juror, and is published regularly in the Sunday Telegraph, Guardian, Times Independent and Financial Times. He also broadcasts on the BBC World Service and on BBC Radio London, and has edited a number of books on employment practices. Subject Work Motivation Positive Psychology Organisational Behaviour

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Applied Measurement

Industrial Psychology in Human Resources Management Edited by Deborah L. Whetzel, and George R. Wheaton. Price: £60.00 £54.00 Hardback: 605 pages Published: March 2007 ISBN: 978-0-8058-5867-9 Publisher: Psychology Press Description An updated version of Deborah Whetzel and George Wheaton's earlier volume, this text is a well-organized sourcebook for fundamental practices in industrial psychology and human resources management. Applied

Measurement describes the process of job analysis and test development with practical examples and discusses various methods for measuring job performance. Its primary purpose is to provide practical, systematic guidance on how to develop the various kinds of measurement instruments frequently used in the fields of industrial psychology and human resources management to assess personnel. With easy to follow guidance written in straightforward language, Applied Measurement contains three new chapters focusing on training and experience measures, assessment centers, and methods for defending the content validity of tests; includes contributions from many prominent researchers in the field, all of whom have had a great deal of applied experience; begins each chapter with an overview describing the job analysis or measurement method; and uses one job, that of an electrician, as an example throughout the book so that readers can easily understand how to apply job analysis data for the purposes of test development and job performance measurement. This practical, concise book is recommended for students and entry-level practitioners in the fields of industrial psychology and human resources. Content Contents: G.R. Wheaton, D.L. Whetzel,Contexts for Developing Applied Measurement Instruments. N.G. Peterson, P.R. Jeanneret,Job Analysis: Overview and Description of Deductive Methods. J.L. Harvey, L.E. Anderson, L.E. Baranowski, R. Morath, Job Analysis: Gathering Job Specific Information. T.L. Russell, N.G. Peterson, Measurement Plans and Specifications. M.J. Ree, T.R. Carretta, Tests of Cognitive Ability. T.P. McGonigle, C.K. Curnow, Measures of Training and Experience. A.I. Huffcutt, S.S. Youngcourt, Employment Interviews. M.D. Mumford, D.L. Whetzel, S.T. Murphy, D.L. Eubanks, Background Data. M.A. McDaniel, Situational Judgment Tests. S. Tsacoumis, Assessment Centers. E.D. Pulakos, Performance Measurement. D.B. Felker, P.J. Curtin, A.M. Rose, Tests of Job Performance. F. Drasgow, D.L. Whetzel, S.H. Oppler, Strategies for Test Validation and Refinement. L.W. Borden, J.C. Sharf,Developing Legally Defensible Content Valid Selection Procedures.

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Mohajir Militancy in Pakistan Violence and Transformation in the Karachi Conflict By Nichola Khan Published 10th March 2010 by Routledge – 208 pages Series: Routledge Contemporary South Asia Series Hardback: 978-0-415-55490-9: £85.00 Description Synthesizing political, anthropological and psychological perspectives, this book addresses the everyday causes and appeal of long-term involvement in extreme political violence in urban Pakistan. Taking Pakistan’s ethno nationalist Mohajir party, the Muttahida Qaumi Movement (MQM) as a case study, it explores how certain men from the ethnic community of Mohajirs are recruited to the roles and statuses of political killers, and sustain violence as a primary social identity and lifestyle over a period of some years. By drawing on detailed fieldwork in areas involved in the Karachi conflict, the author contributes to understandings of violence, tracing the development of violent aspects of Mohajir nationalism via an exploration of political and cultural contexts of Pakistan’s history, and highlighting the repetitive homology of the conflict with the earlier violence of Partition. Through a local comparison of ethnic and religious militancy she also updates the current situation of social and cultural change in Karachi, which is dominantly framed in terms of Islamist radicalization and modernization. In her examination, governance and civil society issues are integrated with the political and psychological dimensions of mobilization processes and violence at micro-, meso- and macro- levels. This book injects a critical and innovative voice into the ongoing debates about the nature and meaning of radicalization and violence, as well as the specific implications it has for similar, contemporary conflicts in Pakistan and the developing world. Content Introduction 2. The Post-Partition History of the Mohajirs in Sindh 3. The Transformation 4. Partition Reprised: Grievance, Unification and Violence 5. Women in the Homeland 6. Jamaat E Islami and the Ijt in Liaquatabad 7. Conclusion

About Author Nichola Khan is a Lecturer in the School of Applied Social Science at the University of Brighton, UK. Subject Asian Politics Asian Culture & Society South Asian Studies Pakistan (studies of) South Asian Politics Gender Politics Civil Wars & Ethnic Conflict Contemporary Conflict Terrorism & Political Violence Gender Studies Political Islam

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Energy, Bio Fuels and Development Comparing Brazil and the United States Edited by Edmund Amann, Werner Baer, Don Coes Published 2nd December 2010 by Routledge – 334 pages Series: Routledge Studies in Development Economics Hardback: 978-0-415-56720-6: £90.00 Description This collection examines the important and topical issue of the economic, social and environmental implications of concerted attempts to diversify energy sources away from fossil fuels. The book expertly examines this issue by focussing on the contrasting experiences of two major economies; one developed, and the other a rapidly expanding, emerging market. Energy, Bio Fuels and Development evaluates the experience of Brazil, with elements of that of the US highlighted for the purpose of comparison. A key area of concern surrounds the causes and consequences of the contrasting routes to biofuel production represented by sugar cane (in Brazil) and corn (in the US). The book also places the recent biofuels drive in perspective by discussing the broader energy policy context. The book shows the complexity and interdependence of the issues involved in moving a society reliant on non-renewable energy sources to one based on alternative sources of energy. The key conclusion to emerge is that Brazil, in pursuing a flexible mix of fossil fuels and bio-fuels, has greatly diminished its exposure to exogenous energy shocks. The US experience – in particular its development of corn-based ethanol – has been more problematic, though by no means without successes. It is argued that bio fuels should not be seen as a panacea. There are clear limits to the efficiency and cost effectiveness of current biofuel production technologies while there remain concerns surrounding potentially adverse effects on food production and rural livelihoods. This book should be an excellent resource for students focussing on economic development, particularly in the areas of energy, biofuels, rural development and food supply. Content 1. Introduction Edmund Amann, Werner Baer and Don Coes Part 1: Energy Shocks, Policy Change and the Emergence of Biofuels 2. Oil Shocks in Brazil and in the United StatesTiago Cavalcanti and João Tovar Jalles 3. Energy and Income Distribution in Brazil’s Development Process Edmund Amann and Werner Baer 4. The Earth is Finite and Other Irrelevancies about the World’s Ultimate Oil Supply Fred Gottheil 5. Energy Restrictions to Growth: The Past, Present and Future Energy Supply in Brazil Adilson de Oliveira and Eduardo Pontual Ribeiro 6. Oil Prices and Inflation in Brazil: Exchange Rate vs. Inflation TargetingClaudio A.C. Paiva 7. Energy Independence and Economic Efficiency in Brazilian Trade Donald V. Coes 8. The Role Played by the BNDES in Funding Energy Investments in Brazil Ricardo Cavalcante and Simone Uderman Part 2: Social, Local and Environmental Impacts of Changes in the Energy Market 9. Climate Change and Energy Use in the Long Run and Growth in Brazil Carlos Azzoni, Eduardo Haddad and Fabio Kanczuk 10. Energy and the Brazilian Regional System Gervasio Ferreira dos Santos, Eduardo Haddad and Geoffrey Hewings 11. Socio-economic Indicators and Determinants of the Income of Workers in Sugar Cane Plantations and in the Sugar and Ethanol Industries in the North, North-East and Centre-South Regions of Brazil Márcia Azanha Ferras Dias Moraes 12. Understanding the Impact of Food Policy on the Brazilian Poor Mary Arends-Kuenning 13. Biofuels, Food and Trade: Social Impacts Gale Summerfield and Keith Taylor 14. Oligopolistic Behavior of Brazilian Gas StationsIgnácio Tavares

de Araújo Júnior, Alexandre Rands Barros, André Matos Magalhães and Luciano Menezes Bezerra Sampaio Part 3: The Impacts of Bio and Alternative Fuels 15. The Journey to Next-Generation of Bio-economy: The U.S. Perspective Hans P. Blaschek 16. Integrated Life-cycle Analysis of Sustainable Biofuels Jurgen Scheffran 17. The Capital Efficiency Challenge of Bio-energy Models: What Flex-Mills in Brazil can Teach us Peter Goldsmith,

Renato Rasmussen, Guilherme Signorini, João Martines, Carolina Guimarães 18. The Impact of Agriculture-based Energy Sources on Land Use in Brazil Carlos Jose Caetano Bacha 19. Fossil-Fuels, Bio-Fuels, and Food: Ranking

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Priorities Guilherme Leite da Silva Dias and Joaquim Jose Martins Guilhoto 20. The Impact of Sugar Cane Expansion on the CerradoCharles Mueller and Geraldo Bueno Martha Jr. 21. The Viability of the Biodiesel Program as an Instrument of Social Inclusion Marcos Holanda, Bruno Moreira Wichmann and Paul Araújo

Pontes 22. The Expansion of Sugarcane Production in the State of São Paulo and its Impact on Municipal Tax Receipts André L.S. Chagas and Rudinei Toneto Jr. 23. Conclusions Edmund Amann and Werner Baer About Author Edmund Amann is Reader in Development Economics at the University of Manchester, UK. Werner Baer is Lemann Professor of Economics at the University of Illinois, USA. Donald V. Coes is Professor of Economics at the University of New Mexico, USA. Subject International Economics Development Economics Energy Industries & Utilities Environmental Economics Latin American & Hispanic Studies

Essays in Biography John Maynard Keynes

Palgrave Macmillan, September 2010 ISBN: 978-0-230-24958-5, ISBN10: 0-230-24958-2, 6 1/8 x 9 1/4 inches, 538 pages,

Trade Paperback $35.00

This reissue of the authoritative Royal Economic Society edition of Essays in Biography features a new introduction by Donald Winch, which examines the continued relevance of this classic work. The volume presents a collection of Keynes' biographical writings and sketches of his friends and of the great economists of his time. About the Author(s) John Maynard Keynes

JOHN MAYNARD KEYNES was born in Cambridge in 1883, son of John Neville Keynes, later registrary of the university; his mother was one of the earliest women students. Educated at Eton and King's, he passed into the Civil Service in 1906, working for three years in the India office. He returned to Cambridge as a Fellow of King's in 1909 and remained a Fellow until his death. Table of Contents Introduction--D.Winch Preface to the First Edition PART I: SKETCHES OF POLITICIANS The Council of Four, Paris 1919 Lloyd George: A Fragment A Meeting of the Council of Three Andrew Bonar Law Herbert Asquith Edwin Montagou Arthur Balfour

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Winston Churchill Reginald McKenna The Great Villiers Connection Trotsky on England PART II: LIVES OF ECONOMISTS Thomas Robert Malthus William Stanley Jevons Alfred Marshall Mary Paley Marshall Francis Ysidro Edgeworth Herbert Somerton Foxwell Sir Henry Cunynghame Henry Higgs Alfred Hoare PART III: BREIF SKETCHES Wilhelm Lexis Frederic Hillersdon Keeling A. A. Tschuprow Benjamin Strong C. P. Sanger Walter Case George Broomhall Frederick Phillips PART IV: HIS FRIENDS IN KING'S Frank Ramsey A. F. R. Wollaston W. E. Johnson William Herrick Macaulay Dilwyn Knox Julian Bell PART V: TWO SCIENTISTS Newton, the Man Bernard Shaw and Isaac Newton Einstein PART VI: TWO MEMOIRS Melchior: A Defeated Enemy My Early Beliefs

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Manias, Panics and Crashes

History of Financial Crises Charles P. Kindleberger and Robert Z. Aliber; foreword by Robert Solow

Palgrave Macmillan, September 2011 Edition: Revised Edition, ISBN: 978-0-230-36535-3, ISBN10: 0-230-36535-3, 156.000 x 234.000 inches, 368 pages, 1 table, b/w,

Trade Paperback $20.00

Selected as one of the best investment books of all time by theFinancial Times, Manias, Panics and Crashes puts the turbulence of the financial world in perspective. Here is a vivid and entertaining account of how reckless decisions and a poor handling of money have led to financial explosions over the centuries. Covering topics such as the history and anatomy of crises, speculative manias, and the lender of last resort, this book has been hailed as "a true classic . . . both timely and timeless." In this new, updated sixth edition, Kindleberger and Aliber expand upon the ideas presented in the previous edition to bring the history of the financial crisis up-to-date. It now includes two new chapters that provide an in-depth analysis of the causes, consequences and policy responses to the first global crisis of the 21st century, the Financial Crisis of 2007-2008. In addition, these new chapters also cover significant crises of the last fifteen years. The authors offer valuable lessons that will allow the reader to successfully navigate the financial crises of today and ones that lie ahead. Praise "Robert Aliber has produced superb update of the classic book by Charles Kindleberger which remains as relevant as ever." —Martin Wolf, Financial Times "Underneath the hilarious anecdotes, the elegant epigrams, and the graceful turns of phrase, Kindleberger is deadly serious. The manner in which humans beings earn their livings is no laughing matter to him, especially when they attempt to do so at the expense of one another. As he so effectively demonstrates, manias, panics, and crashes are the consequence of an economic environment that cultivates cupidity, chicanery, and rapaciousness rather than a devout belief in the Golden Rule." —Peter L. Bernstein "Professor Kindleberger has the welcome gifts of carrying lightly an immense weight of learning and of always using his imagination in deciding how to deploy it. These gifts are as evident as ever in his latest book." —W. Ashworth, Economic History Review "Manias, Panics and Crashes is a scholarly account for the way that mismanagement of money and credit has led to financial explosions over the centuries." —Richard Lambert, Financial Times "Charles Kindleberger has written, with great polish and style, an analysis of the stages of financial crises over the last two and a half centuries." —Patrick Minford, Economic Journal "Alas, both the need for a book such as Manias, Panics and Crises, and the scale and coverage of its material, keep on increasing, almost exponentially. So much has happened in the last few years that this is now Bob Aliber’s book, as much as, perhaps more, than Charles Kindleberger’s. Aliber has maintained, indeed, enhanced, the prior high standards that Kindleberger set. The analysis, (giving pride of place to Minsky and to the role of credit expansion in driving asset price bubbles), and the judgement (that allowing Lehman Bros to fail was a disaster and that harping on the cliché of ‘too big to fail’ obscures proper assessment) are both first class. This is an entertaining and easily accessible book, filled with fascinating historical vignettes, and one that everyone from the experts to newcomers to the field should read and would profit greatly by doing so." —Charles Goodhart, London School of Economics About the Author(s)

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By Charles P. Kindleberger and Robert Z. Aliber

Charles P. Kindleberger (1910 – 2003) was the Ford Professor of Economics at MIT for 33 years. He was a financial historian and prolific writer who has published 30 books. Robert Aliber is Professor Emeritus of International Economics and Finance at the University of Chicago Graduate School of Business, where he has been a faculty member since 1965. His books include The New

International Money Game, (Palgrave Macmillan) now in its seventh edition, as well as the book Your Money and

Your Life.

Table of Contents Financial Crisis: A Hardy Perennial * Anatomy of a Typical Crisis * Speculative Manias * Fuelling the Flames: The Expansion of Credit * The Critical Stage: Pricking the Bubble * Euphoria and Economic Booms * International Contagion * Bubble Contagion: Tokyo to Bangkok to New York * Swindles and Theft and Bad Manners * Policy Responses: Letting it Burn Out * Lenders of Last Resort: The Domestic Responses * The International Lender of Last Resort * Conclusion: The Lessons of History

Well-being Productivity and Happiness at Work Cary Cooper and Ivan Robertson

By Cary Cooper and Ivan Robertson

Palgrave Macmillan, April 2011 ISBN: 978-0-230-24995-0, ISBN10: 0-230-24995-7, 6 1/8 x 9 1/4 inches, 240 pages, 1 b/w table, 23 figures,

Hardcover $42.00

High levels of well-being amongst is good for the employee and the organization. It means lower sickness-absence levels, better retention and more satisfied customers. People with higher levels of well-being live longer, have happier lives and are easier to work with. This books shows how to improve well-being in your organization. About the Author(s) PROFESSOR IVAN ROBERTSON (BSc, PhD, FBPsS, FBAM) is a Chartered Psychologist, Fellow of the British Psychological Society and Fellow of the British Academy of Management. He holds a chair in Work and Organizational Psychology at Leeds University Business School and is Emeritus Professor at the University of Manchester. He is also Managing Director of Robertson Cooper Ltd -- a University of Manchester spin-off business dedicated to improving well-being, performance and leadership. He remains an active researcher and during his career has been responsible for over thirty books on Work & Organizational Psychology and over 150 scholarly articles/conference papers. He is currently a member of Dame Carol Black's Occupational Health Sounding Board and of the Expert Reference Group for the NICE Public Health Advisory Committee work on mental health at work. Ivan's earlier experience included several years in industry and national government working as a psychologist. He has held visiting posts in the USA (Michigan State University, Singapore (National University of Singapore) and Australia (Queensland University of Technology) CARY COOPER is Professor of Organizational Psychology and Health, Lancaster University Management School and Pro Vice Chancellor (External Relations) at Lancaster University, UK. He is the author of over 100 books (on occupational stress, women at work and industrial and organizational psychology), has written over 400 scholarly articles, and is a frequent contributor to national newspapers, TV and radio. He is a Fellow of the British Academy of Management and also of the Academy of Management (having also won the 1998 Distinguished Service Award). In 2001 he was awarded a CBE in the Queen's Birthday Honours List for his contribution to organizational health. He is Chair of The Sunningdale Institute, a think tank on management/organizational issues, in the National School of Government. He was also the lead scientist to the UK Government Office for Science on their Foresight programme on Mental Capital and Well Being (2007-2008), and was appointed a member of the expert group on establishing guidance for the National Institute for Health and Clinical Excellence on 'promoting mental wellbeing through productive and healthy working conditions', 2009. He is Chair of the UK's Academy of Social Sciences. Professor Cooper is also the President of the Institute of Welfare, President of the British Association of Counselling and Psychotherapy, a national Ambassador of The Samaritans, a Patron of the Anxiety UK, and Patron of the National Bullying Helpline. HR

Magazine named him the 6th Most Influential Thinker in HR in 2009. Table of Contents

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Acknowledgements Introduction Why should the individual and organization practice scenario thinking? Working with scenarios: introducing the basic method Incorporating stakeholder values and facilitating critique of scenario storylines Understanding stakeholder viewpoints. Augmented scenario approaches: delving deeper and stretching wider Scenarios and decision analysis Creating robust strategies and robust organizations The backward logic method of constructing extreme scenarios Diagnosing organizational receptiveness Summary Appendix 1

Fighting Financial Fires An IMF Insider Account Onno de Beaufort Wijnholds

Palgrave Macmillan, September 2011 ISBN: 978-0-230-29267-3, ISBN10: 0-230-29267-4, 6.125 x 9.250 inches, 224 pages,

Hardcover $40.00

Atopical insider view of causes and consequences of financial crises since the Mexican collapse of 1995. The book includes a detailed exploration of recent and ongoing firestorms, including the near meltdown of the global financial system and the euro crisis, and suggests ways to save the international financial and monetary system. About the Author(s) Onno de Beaufort Wijnholds

JOHANNES ONNO DE BEAUFORT WIJNHOLDS is a former Executive Director of the International Monetary Fund and former Representative of the European Central Bank in the United States. During his 40 year career, which began at the Netherlands Central Bank, he was closely involved in dealing with international financial crises. He was also a professor of money and banking and has published widely. Table of Contents Prologue Tequila and Tesobonos: Mexico 1994-95 From Miracle to Panic and Back: Asia 1997-98 Korea's Christmas Crisis Indonesia with Nukes: Russia 1998 Double Bailout for Brazil The IMF Fails: The Argentine Drama Turkey Stumbles Lessons Learned, Not Learned and Ignored A Global Firestorm Europe's Turn Saving the System Epilogue

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See No Evil Uncovering The Truth Behind The Financial Crisis Erik Banks

Palgrave Macmillan, December 2010 ISBN: 978-0-230-27893-6, ISBN10: 0-230-27893-0, 6 1/8 x 9 1/4 inches, 240 pages,

Hardcover $42.00

The story of the recent global economic crisis is told in the words of the main players in the drama. Including quotes from bankers, rating agencies, housing agencies, regulators, politicians and media figures. Erik Banks' latest book shows why we are doomed to experience further financial crises in the future. About the Author(s) Erik Banks

ERIK BANKS is a Senior Risk Advisor for a European universal bank. Over the past 23 years, he has held senior risk positions in the investment banking and hedge fund sector in New York, Tokyo, Hong Kong, London and Munich. He is the author of more than 20 books on risk, derivatives, emerging markets and governance, including the Palgrave titles Failure of Wall Street, (2004), Dictionary of Finance, Investment and Banking (2009) and Dark Pools (2010). Table of Contents Prologue: Crisis Redux A Quick Recap The US Banks Got It Wrong… …And So Did the European Banks The Fannie and Freddie Sinkhole Fuel to the Fire I: The Rating Agencies Fuel to the Fire II: Politicians and Lobbyists A Handful of Sages Fingerpointing and Apologies Closing the Barn Door Get Ready For The Next One…

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Minding the Markets An Emotional Finance View of Financial Instability David Tuckett

Palgrave Macmillan, May 2011 ISBN: 978-0-230-29985-6, ISBN10: 0-230-29985-7, 6 1/8 x 9 1/4 inches, 256 pages, 3 b/w tables,

Hardcovr $40.00 Buy

In this groundbreaking book, Tuckett argues that most economists' explanations of the financial crisis miss its essence; they ignore critical components of human psychology. He offers a deeper understanding of financial market behavior and investment processes by recognising the role played by unconscious needs and fears in all investment activity To read a sample chapter – Praise "Minding the Markets is a real contribution... a book the world really needs." --George Akerlof, Nobel Laureate and American Economist "Read this book if you want to understand the behaviour of financial markets."-- Mervyn King, Governor of the Bank of England "David Tuckett's work on the emotional underworld of asset management and financial markets is a true tour de force... As Psycho-analyst, exceptional interviewer and rare interdisciplinary scholar he has brought sensitivity and sensibility to a world of unreason."--Neil J.Smelser, University Professor of Sociology Emeritus, University of California, Berkeley, USA; and former Director of the Center for Advanced Study in the Behavioural Sciences in Stamford, California and President of the American Sociological Association (1997) About the Author(s) David Tuckett

DAVID TUCKETT is Fellow of the Institute of Psychoanalysis in London, UK, and Professor at UCL, UK. Recently honored with a Sigourney Award for Psychoanalysis, the highest prize in his field, Professor Tuckett has brought together his initial training as an Economist with his subsequent work in Sociology and Psychoanalysis to initiate a new line of research; the significance of which has been recognized with recent contributions to the Global Economic Symposium and the Global Risks Network of the World Economic Forum. Previously Principal of the Health Education Studies Unit at Cambridge University and Editor in Chief of the International Journal of

Psychoanalysis, he is the author of many papers and several highly successful books. Table of Contents The Special Characteristics of Financial Assets Methods Four Fund Managers Divided States Finding Phantastic Objects Experiencing News Divided Masters Experiencing Success and Failure Emotional Finance New Economic Thinking Making Markets Safer

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John Kenneth Galbraith Great Thinkers in Economics James Ronald Stanfield and Jacqueline Bloom Stanfield

Palgrave Macmillan, January 2011 ISBN: 978-0-230-24268-5, ISBN10: 0-230-24268-5, 6 1/8 x 9 1/4 inches, 256 pages,

Hardcover $100.00

This book examines the life and work of John Kenneth Galbraith, a truly iconic figure in progressive modern liberalism and a seminal influence in the rise of heterodox political economy. It emphasizes his continuing relevance to the current research of today, and to the multifaceted crisis of democratic capitalism. About the Author(s) By Jacqueline Bloom Stanfield and James Ronald Stanfield

JAMES RONALD STANFIELD is Emeritus Professor of Economics at Colorado State University. JACQUELINE STANFIELD is Emerita Professor and Chair of Sociology, University of Northern Colorado. They have done collaborative research on Galbraith, consumer behaviour, gender and family issues, and ecological and social sustainability. The Galbraithian influence is apparent in their work on consumer craft knowledge, the Nurturance Gap, and the Great Capitalist Restoration. From Galbraith's work, as well that of Karl Marx, Thorstein Veblen, Max Weber, Joseph Schumpeter, Karl Polanyi, Adolph Lowe, and Robert Heilbroner, it is evident that lives and livelihood, or the place of economy in society, has been and remains the central problematic of the capitalist social structure of accumulation, growth, and change. James and Jacqueline continue to work together, when they can spare the time from their grandchildren. Table of Contents Preface Political Economy and the Useful Economist Political Economy in Agriculture Political Economy and the Art of Controversy The Political Economy of Affluence The Political Economy of the Great Political Economy and the Public Purpose Political Economy in the Conservative Hour Political Economy and the Galbraithian Legacy Conclusion References Index

The Financial Crisis and Federal Reserve

Policy Lloyd B. Thomas Palgrave Macmillan, February 2011 ISBN: 978-0-230-10846-2, ISBN10: 0-230-10846-6, 5-1/2 x 8-1/4 inches, 282 pages, Includes: 30 pgs figs,

Hardcover $95.00 Buy

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Written for the motivated non-specialist, this work provides the most clear and thorough coverage available of the causes and consequences of the Great Financial Crisis and the role of the Federal Reserve in preventing it from escalating into a massive depression a la the 1930s. The Great Recession that followed the popping of the dual credit and housing bubbles deprived more than 8 million Americans of their jobs and triggered a per capita loss of income of more $6,000 in 2008 and 2009 alone. This work provides a clear and comprehensive explanation of the myriad forces that combined to create the bubbles that were the source of the economic contraction. It retraces the chain reaction that took place as these bubbles deflated. The channels through which the crisis spilled over to produce the Great Recession are carefully laid out. The book is unique in thoroughly contrasting the Federal Reserve’s brilliant implementation of policies that saved us from disaster in the recent crisis with its inept behavior that strongly contributed to the Great Depression of the 1930s. Praise “I’ve read many books on the Financial Crisis. Lloyd Thomas’s book, quite simply, is the best. It doesn’t simply describe what happened. It explains what happened. And it explains what needs to be done to prevent it from happening again.” --Laurence Seidman, Chaplin Tyler Professor of Economics, University of Delaware “Thomas provides a comprehensive and dispassionate analysis of the Great Crisis of 2007-2009. Exceptionally well written and researched, the author provides insights into the most severe economic challenge in the U.S. and much of the rest of the world in 75 years. The book has much to offer to professional economists, financial experts, and policy makers, as well as the general citizens who were affected by the severe downturn, housing market collapse, and financial system’s near meltdown. The prominent and effective role of the Federal Reserve is the unappreciated story in the Great Crisis and is in sharp contrast to the Fed’s performance in the Great Depression of the 1930’s. This book is destined to be one of the most thoughtful, independent, and insightful analyses of the Great Crisis. “ --Bruce Jaffee, Professor of Business Economics and Public Policy and Executive Director, Institute for International Business, Indiana University "Timely, informative, insightful, beautifully written, and readable both by informed professionals and economists. Tightly organized and very interesting treatment of the Federal Reserve's role in the current economic crisis with comparative historical background on the Fed's behavior during the Great Depression. A wonderful book." --Michael J. Greenwood, Professor of Economics, University of Colorado at Boulder About the Author(s)

Lloyd Thomas is Professor of Economics at Kansas State University. He has published in numerous journals and has authored several textbooks that have been published in multiple editions includingMoney, Banking, and Economic Activity, Money, Banking, and Financial Markets, and Principles of Economics (co-authored with James Ragan). Table of Contents

Financial Crises: An Overview * The Nature of Banking Crises * The Panic of 1907 and the Savings and Loan Crisis * Development of the Housing and Credit Bubbles * Bursting of the Twin Bubbles * The Great Crisis and the Great Recession of 2007-2009 * The Framework of Federal Reserve Monetary Control * Federal Reserve Policy in the Great Depression * The Federal Reserve’s Response to the Great Crisis * The Federal Reserve’s Exit Strategy and the Threat of Inflation * The Taylor Rule and Evaluation of U.S. Monetary Policy * Regulatory Reform Proposals

Credit Guarantee Institutions and

SME Finance Palgrave Macmillan Studies in Banking and Financial Institutions Edited By Paola Leone and Gianfranco A. Vento

Palgrave Macmillan, 1/17/2012 ISBN: 978-0-230-29539-1, ISBN10: 0-230-29539-8, 6.125 x 9.250 inches, 360 pages, 148 b/w tables, 71 figures,

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Hardcover $105.00 Pre-Order

This bookanalyses and confronts the functioning of guarantee systems for SMEs in countries where these schemes had an important development.The book also highlights how the current financial crisis is modifying the guarantees schemes, through policy maker interventions. About the Author(s) By Paola Leone and Gianfranco A. Vento

PAOLA LEONE Professor of Banking and Finance, Sapienza University of Rome, Italy. GIANFRANCO ANTONIO VENTOAssociate Professor of Banking and Finance, Guglielmo Marconi University, Italy. Table of Contents Introduction An Analysis of Credit Guarantee Schemes: Suggestions from Literature The Guarantee System in France The Guarantee System in Italy The Guarantee System in Spain The Guarantee System in the United Kingdom The Guarantee System in Hungary The Guarantee System in Argentina The Guarantee System in Chile A Comparative Analysis of Mutual Guarantee Systems Conclusions

Money Makers Inside the New World of Finance and Business David Snider and Dr. Chris Howard Palgrave Macmillan, February 2010 ISBN: 978-0-230-61401-7, ISBN10: 0-230-61401-9, 6 1/8 x 9 1/4 inches, 256 pages,

Hardcover $28.00

Ebook

$14.99

Description

Money Makers illuminates the often secretive industries of the private sector that drive the modern economy. David Snider and Chris Howard draw on their interviews with top executives- such as Jamie Dimon, CEO of JPMorgan Chase; David Rubenstein, Cofounder of the Carlyle Group; and Shona Brown, Senior Vice President of Business Operations at Google- to reveal the histories, mechanics, operations and challenges of investment banking, venture capital, private equity, hedge funds, management consulting, and the management of Fortune 500 companies. Money Makers is an indispensable on-the-ground guide that puts today’s financial landscape into perspective. With a Foreword by Robert K. Steel, Former CEO of Wachovia and Under Secretary of Domestic Finance for the US Treasury. Praise “Given the recent economic turmoil, it is more important than ever for people to learn about the dynamics of business and finance. David Snider and Chris Howard provide readers with a clear understanding of key financial industries and deliver insights and analysis from the people leading these fields. This is the book for a savvy layperson interested in exploring business today.”--Suzy Welch, New York Times bestselling author and columnist, with Jack Welch, for BusinessWeek magazine

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“An excellent read on the inner workings of business and finance. I was particularly impressed by the lucid discussions of the consulting industry and the role of executives at Fortune 500 companies.” --Stephen Kaufman, Senior Lecturer at the Harvard Business School, former Chairman and CEO of Arrow Electronics, former partner at McKinsey & Company “This is a fabulous book for understanding entrepreneurship, venture capital and the symbiotic relationship they share. Money Makers takes readers inside these fields with highly relevant, engaging examples and a clear articulation of industry dynamics.” --Reed Hastings, Founder and CEO of Netflix "Money Makers provides very insightful views into the business world and the issues it currently faces. Its depth will contribute materially to the public understanding of finance today."--Bill George, Author of 7 Lessons for Leading in Crisis, Professor of Management Practice at Harvard Business School, former CEO of Medtronic, director of Goldman Sachs "Money Makers is both a wonderful primer for individuals thinking about entering the investment business and a fine reference for someone trying to understand the financial world today."--Stephen Kay, Retired Partner at Goldman Sachs “Howard and Snider provide a concise and dynamic view of the venture capital business. Anyone who wants to understand the mechanics of this industry will learn from and enjoy the book, particularly those who aspire to be venture capitalists.” --Nicholas Beim, General Partner, Matrix Partners “Approachable and insightful, Money Makers takes you inside many of the most selective industries within the business world. Private equity, hedge funds, management consulting and the like are often referenced in the media but seldom fully explained. With their own experience and the wisdom of the business and finance leaders they interviewed, the authors have done a remarkable job making sense of these sophisticated fields.” --Jim Ellis, Dean of the USC Marshall School of Business, former President and CEO of Porsche Design "I was blown away at how insightful Money Makers is. A fresh look at the DNA of private equity, venture capital, hedge funds and more. I wish something like this existed when I started my career in finance."--Jeff Bloomberg, Principal at Gordon Brothers, former Senior Managing Director for Retail and Consumer Products at Bear Stearns "Money Makers answers the questions too few people have been willing to ask! An incredibly valuable addition to the library of anybody who wants to understand the workings of the generally “hidden” parts of business and finance."--Len Schlesinger- President Babson College "Money Makers is a must read for anyone considering a career in finance, consulting, or management. David Snider and Chris Howard deftly describe each of these secretive professions with unparalleled detail. Using real life examples and interviews with industry veterans, the book provides everything you will need to know about these prestigious fields and the people leading them."--Mellody Hobson, President of Ariel Investments, Director of DreamWorks Animation SKG, Inc.; The Estée Lauder Companies Inc. and Starbucks Corporation About the Author(s)

By David Snider and Chris Howard

David Snider works in the private equity group at Bain Capital. He graduated Phi Beta Kappa with Highest Distinction from Duke University. Dr. Chris Howard is the President of Hampden-Sydney College and Chairman of the Impact Young Lives Foundation. He was previously Vice President for Strategic & Leadership Initiatives at the University of Oklahoma and a manager with General Electric’s elite Corporate Initiatives Group. He holds an MBA with Distinction from Harvard Business School, and is a Rhodes Scholar.

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The Management of Consumer Credit Theory and Practice Steven Finlay

Palgrave Macmillan, May 2010 ISBN: 978-0-230-23830-5, ISBN10: 0-230-23830-0, 5 1/2 x 8 1/4 inches, 240 pages,

Hardcover $110.00

Description This book explains how financial institutions, such as banks and finance houses, manage their portfolios of credit cards, loans, mortgages and other types of retail credit agreements. The second edition has been substantially updated, with new chapters on capital requirements and scorecard and portfolio monitoring. About the Author(s) Steven Finlay

STEVEN FINLAY is an expert in consumer credit with more than fifteen years experience within the financial services industry, working with some of the world's leading financial services organizations. His research interests cover all aspects of consumer credit, forecasting and data mining. He currently works as an industry consultant, and is also a visiting research fellow in the Department of Management Science, Lancaster University, UK. Table of Contents Consumer Credit Management: An Introduction Organizational Matters Marketing Predicting Consumer Behaviour Customer Acquisition Customer Management Collections (Early Stage Delinquency) Debt Recovery (Late Stage Delinquency) Fraud Funding and Provision Capital Requirements Appendix A: Predictive Models of Consumer Behaviour Appendix B: Scorecard and Portfolio Monitoring Appendix C. US and UK Legislation Appendix D: Recommended Reading Bibliography Index

.

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The Handbook of Structured Finance [Hardcover] Arnaud de Servigny (Author), Norbert Jobst (Author)

Book Description ISBN-10: 0071468641 | ISBN-13: 978-0071468640 | Publication Date: January 22, 2007 | Edition: 1 The Handbook of Structured Finance is a complete guide to the major issues facing investors in the structured finance market. Comprehensive and accessible, it provides the latest techniques for measuring and managing risk, finding optimum pricing, and taking advantage of leverage and market incompleteness, as well as models for debt and equity modeling.

Cheol Eun, GEORGIA INST OF TECH Bruce G. Resnick, WAKE FOREST UNIVERSITY Hardcover, 560 pages ©2007, ISBN-13 9780072996869

MHID0072996862

Publisher's Retail Price:$213.00

Bookstore's Wholesale Price:$159.75

Description International Financial Management combines the fundamental concepts of international finance with solid practical applications. This combination has made it the book of choice at a variety of institutions, including top business schools such as Wharton, Stanford, Northwestern, and INSEAD. Neither superficial nor overly theoretical, Eun and Resnick's approach offers a conceptually solid, yet still relevant, treatment of international financial topics that puts students on the right track to becoming effective global financial managers. Table of Contents Brief Contents PART ONE Foundations of International Financial Management CHAPTER 1 Globalization and the Multinational Firm CHAPTER 2 International Monetary System CHAPTER 3 Balance of Payments CHAPTER 4 Corporate Governance around the World PART TWO The Foreign Exchange Market, Exchange Rate Determination, and Currency Derivatives CHAPTER 5 The Market for Foreign Exchange CHAPTER 6 International Parity Relationships and Forecasting Foreign Exchange Rates CHAPTER 7 Futures and Options on Foreign Exchange PART THREE Foreign Exchange Exposure and Management CHAPTER 8 Management of Transaction Exposure CHAPTER 9 Management of Economic Exposure CHAPTER 10 Management of Translation Exposure

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PART FOUR World Financial Markets and Institutions CHAPTER 11 International Banking and Money Market CHAPTER 12 International Bond Market CHAPTER 13 International Equity Markets CHAPTER 14 Interest Rate and Currency Swaps CHAPTER 15 International Portfolio Investment PART FIVE Financial Management of the Multinational Firm CHAPTER 16 Foreign Direct Investment and Cross-Border Acquisitions CHAPTER 17 International Capital Structure and the Cost of Capital CHAPTER 18 International Capital Budgeting CHAPTER 19 Multinational Cash Management CHAPTER 20 International Trade Finance CHAPTER 21 International Tax Environment Glossary Index About the Authors � Cheol S. Eun (Ph.D., NYU, 1981) is a professor of finance and currently holds the Thomas R. Williams Chair in International Finance at Georgia Institute of Technology. Before joining Georgia Tech, he taught at Kent State University, University of Minnesota, and the University of Maryland, and at the Wharton School of the University of Pennsylvania. He has published extensively on international finance issues in such major journals as the Journal of Finance, JFQA, Journal of Banking and Finance, Journal of Portfolio Management, Management Science, and Oxford Economic Papers. Currently he is an associate editor of the Journal of Banking and Finance, Global Finance Journal, European Financial Management. Professor Eun has taught a variety of courses at the undergraduate, graduate, and executive levels and was the winner of the Krowe Teaching Excellence Award at the University of Maryland and has served as a consultant to many national and international organizations. � Bruce G. Resnick (D.B.A. Indiana, 1979) is a professor of management at the Babcock Graduate School of Management of Wake Forest University. Prior to coming to the Babcock School, he taught at Indiana University for ten years, the University of Minnesota for five years, and California State University for two years. Professor Resnick has also taught as a visiting professor at Bond University, Gold Coast, Queensland, Australia, and at the Helsinki School of Economics and Business Administration. Like Professor Eun, he has had research articles published in the most prestigious academic journals, and he has served as a consultant to a number of nonprofit and for-profit organizations in the selection of investment managers for organizational funds New Features � A major restructuring allows instructors much greater flexibility in designing their courses. Once the basics are covered, instructors can choose to emphasize global financial markets or multinational financial management as they see fit. � All data and statistics are the most current available. Additionally, many new “International Finance in Practice” boxes contain up-to-date real-world illustrations of chapter topics and concepts. � "Case Applications" incorporated into selected chapters enhance topics and help students apply theories and concepts to "real-world" situations. � "In More Depth" sections can provide additional insight into a particular topic at the instructor's discretion. These sections, clearly indicated in the text with green type, can be skipped with no loss of continuity. Selected end-of-chapter problems relating to this advanced material are also indicated in green type.

Building Financial Models, 2nd Edition

John Tjia, Hardcover, 464 pages ©2009, ISBN-13 9780071608893

MHID0071608893

Publisher's Retail Price:$79.95

Description The ability to effectively create and interpret financial models is one of the most valued skills in corporate finance--from Wall Street to Main Street. Now, the acclaimed guide to designing, building, and implementing valuation projection models is fully revised and

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expanded to keep finance and accounting professionals competitive in today's marketplace. This second edition of Building Financial Models continues the tradition of its predecessor by providing a hands-on approach to creating a core model that is supported by broad coverage of cornerstone accounting and finance principles. Additionally, this updated volume features:

• Entirely new coverage of discounted cash flow (DCF) modeling

• Excel formulas for making powerful calculations within the spreadsheet

• In-depth explanations of both the principles and mechanics of projection models

Building Financial Models helps readers practice good thinking and apply sound knowledge of their tools--two key attributes to producing robust and easy-to-use models. This practical guide takes you step by step through the entire process of developing a projection model, with a full chapter dedicated to each phase. By the end, you will have a working, dynamic spreadsheet financial model for making projections for industrial and manufacturing companies. Furthermore, this Second Edition provides the vocabulary and syntax of model building so you can tailor core models to fit any size company and allow for quick input changes to test sensitivity. The companion website www.buildingfinancialmodel.com offering example spreadsheets will give you a head start on developing your own models. A flexible and successful financial projection model does more than just add numbers--it explains the complex relationships between those numbers and illuminates ways to use those associations to add value to an enterprise. Building Financial Models is the only book you need to create and implement a fluid financial projection model that is both state of the art and user friendly.

Table of Contents

1. A Financial Projection Model 2. Best Practices in Modeling 3. Starting Out 4. Your Model-Building Toolbox: F Keys and Ranges 5. Your Model Building Toolbox: Functions 6. The Role of Cash in Modeling 7. Balancing the Balance Sheet 8. Income Statement and Balance Sheet Accounts 9. Putting Everything Together 10. The IS and BS Output Sheets 11. The CF sheet 12. Ratios: Key Performance Indicators 13. Forecasting Guidelines 14. The Cash Sweep 15. The Cash Flow Variation for Cash Sweep 16. Recording macros 17. Discounted Cash Flow Valuation 18. On-screen controls 19. Bells and whistles 20. Writing a macro in visual basic for applications

About the Authors

• John S. Tjia is a founding partner of TMG Associates, LLC, a consulting firm that specializes in financial modeling for corporate finance. A former vice president at JPMorgan Chase, he has taught modeling and valuation classes to hundreds of analysts and associates.

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Managing Value-Based Organizations It’s Not What You Think Bruce Hoag , Cary L. Cooper Bruce Hoag, former Managing Director, Performance Advantage Ltd, Cambridgeshire, UK and Cary L. Cooper CBE, Distinguished Professor of Organizational Psychology and Health, Lancaster University, UK

2006 320 pp Hardback 978 1 84064 981 9

Hardback £83.00 on-line price £74.70 Description ‘An insightful and enjoyable book. Bruce Hoag and Cary Cooper first provide a concise history of work, organizations and management highlighting what has changed over time and why. Then emphasizing the value-based organization – an organization committed to delivering value to all of its stakeholders – they tackle the “so what” providing practical advice for organizations, managers and employees. It will make you think.’ – Ronald J. Burke, York University, Canada Managing Value-Based Organizations argues that those who fail to understand management history are destined to repeat it. Research has shown that despite the prodigious output of management books, managers still have little idea why there is so much change in the world of work or what they can do about it. Most, it seems, are still waiting for the dust to settle, expecting instead that in the near future they will be able to go back to doing things the way they have always done them. Contents Contents: Preface Part I: Organizational Theory 1. Organizational Evolution 2. Traditional Organizations 3. The Horizontal Revolution 4. The Value-Based Organization Part II: The Traditional Hybrid 5. The Myth of Rightsizing 6. The Myth of Competitive Advantage 7. The Myth of the Balanced Scorecard Part III: Surviving the Upheaval 8. Implications for Organizations 9. Implications for Managers 10. Implications for Employees 11. Implications for Human Resources Managers Bibliography Index Further information ‘This is a well researched and thoroughly readable work. As well as giving a comprehensive and clear history of organisations and their evolving forms, it manages to explain the implications of this to practitioners today. In particular the entire discussion of the value based organisation and what this means for the exploitation of knowledge, organisational learning and innovation are relevant to younger, knowledge based organisations. The world of work has changed for ever in the increasingly knowledge based economy and the way we manage and lead has to change with it. This book provides a good insight to those that need to lead the change.’ – Bill Parsons, ARM Holdings plc ‘A fascinating look at why organisations are the way they are and how we can improve them. This well-written and accessible book offers intelligence, insight as well as practical advice. This is essential reading for organisational theorists as well as practitioners.’ – Binna Kandola, Senior Partner, Pearn Kandola, UK

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‘Hoag & Cooper’s work is an important addition to our understanding of organizations. I think this book will be of wide interest not only to the academic and consultative community but also business practitioners that want to better understand the organizations they operate in. I appreciate the historical and systemic context they have been able to provide for the reader. Its informative style make it a must read this year.’ – Robert Kovach, RHR International Company, UK ‘Academics and practitioners will find that this book presents a novel theoretical perspective. It illustrates that many features of current practice, contrary to many gurus, are consistent with the status quo that highly limits progress. For example, the authors describe what they call the myths of rightsizing, competitive advantage and balanced scorecard. The authors present extensive illustrations of how their value-based perspectives can lead to new policies and practices in managing organizations.’ – Chris Argyris, Harvard Business School, US ‘An insightful and enjoyable book. Bruce Hoag and Cary Cooper first provide a concise history of work, organizations and management highlighting what has changed over time and why. Then emphasizing the value-based organization – an organization committed to delivering value to all of its stakeholders – they tackle the “so what” providing practical advice for organizations, managers and employees. It will make you think.’ – Ronald J. Burke, York University, Canada Managing Value-Based Organizations argues that those who fail to understand management history are destined to repeat it. Research has shown that despite the prodigious output of management books, managers still have little idea why there is so much change in the world of work or what they can do about it. Most, it seems, are still waiting for the dust to settle, expecting instead that in the near future they will be able to go back to doing things the way they have always done them. This highly innovative and accessible book takes a historical look at how the organization and management of work has changed since before the Industrial Revolution and uses this as a basis to explain: • how and why organizations and management behavior have evolved over the past 500 years • the importance of understanding how organizations are changing today and what they will become in the future • what new organizations will look like and how managers will have to change to be effective in them, and • how managers can change their organization from one which is locked in tradition to one which is flexible enough to respond positively to constant change. Revealing both the practicalities and theories behind surviving upheaval in the workplace, academics, business managers and HR managers alike will find this book to be a fascinating and invaluable read.

Money, Investment And Consumption

Keynes’s Macroeconomics Rethought

O. F. Hamouda O.F. Hamouda, Associate Professor of Economics, York University, Canada

2009 264 pp Hardback 978 1 84542 979 9

2011 Paperback 978 1 84980 054 9

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Hardback £68.00 on-line price £61.20 Paperback £19.95 on-line price £15.96 Description ‘Professor Hamouda’s book is very timely and thought provoking and should be an eye opener for students of economics who were brought up in the anti-Keynesian last decades of the twentieth century, or were taught the garbled rather than updated revived Keynesianism which has recently become popular.’ – Y.S. Brenner, Retired Professor of Economics, Utrecht University, The Netherlands Contents Contents: Preface Introduction 1. The Financial Crisis of 2008 and the UnKeynesian Keynes 2. Money, Price, and Interest 3. Keynes’s Semantic Shifts: The Shock of A Treatise on Money 4. Keynes’s Theoretical Shift: Casualty of the Criticism of the Treatise 5. Keynes’s Causal Relations: The General Theory Derailed 6. Inflation/Deflation and the Policy of the General General Theory Conclusion Appendices Index Further information ‘Professor Hamouda’s book is very timely and thought provoking and should be an eye opener for students of economics who were brought up in the anti-Keynesian last decades of the twentieth century, or were taught the garbled rather than updated revived Keynesianism which has recently become popular.’ – Y.S. Brenner, Retired Professor of Economics, Utrecht University, The Netherlands Contrary to the commonly perpetuated belief that Keynes’s theory is appropriate only to economic depressions, the author of this provocative book maintains that Keynes provided a complete set of macroeconomic relations and the ingredients of a new theoretical model, much more reflective of and analytically appropriate to the 21st century than those on which current macroeconomics is based.

With the perspective of Keynes as the backdrop, the author begins with a discussion of the characteristics of the financial crises of 2008 and the 1930s. He then goes on to show that Keynes provided a novel, general theory, constructed as the EC-SP model (different from that of the Classicals’ Labour Theory of Value model and the neoClassicals’ antithetical IS-LM model), a theory yet unrecognized as being behind both A Treatise on Money and The General Theory. He presents here the premises of Keynes’s contributions which still await use by a generation of economists to reassess macroeconomics and orient it in a new direction.

This unique and authoritative look at Keynes’s body of work will be an essential read for scholars and students of economics. Anyone trying to understand the state of the ‘entrepreneurial economy’, of which the 2008 financial crisis is but one manifestation prone to recurrence, will find the work an important resource.

Regulatory Failure And The Global Financial Crisis An Australian Perspective Edited by Mohamed Ariff, John Farrar and Ahmed M. Khalid, Bond University, Australia

January 2012 c 256 pp Hardback 978 0 85793 532 8

Hardback £65.00

Description

This fascinating book presents a lively discussion of key issues resulting from the recent financial crisis. The expert contributors explore why the Global Financial Crisis occurred, how it destroyed wealth, triggered mass unemployment and created an unprecedented loss of control on employment, monetary policy and government budgets. Contents Contributors include: R.P Buckley, M. Bond, W. Byres, J. Carmichael, F. Clarke, K. Davis, G. Dean, J. Diplock, J. Farrar, A. Fels, N. Gaston, A. Khalid, R. MacKinnon, T. Makin Further information

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Important topics encompassing the origin and impact of the crisis, governance failure, regulatory forgiveness, credit splurges, asset bubbles and the greed of institutions are analysed from the wide-ranging perspectives of not only academics in both economics and law, but also from industry practitioners and regulators. This multidimensional evaluation of what went wrong concludes with an outline of what is currently being done to prevent another major crisis, and prescribes recommendations for the implementation of further preventative measures. This book will prove a compelling read for economics, finance and law scholars, as well as for practitioners including accountants, lawyers and financial market players. Full table of contents Preface 1. Timeline of Crisis and Introduction Mohamed Ariff and John Farrar PART I: ORIGINS OF THE CRISIS AND IMPACT ON BANKING AND FINANCE 2. The Origin of the Global Financial Crisis: An Alternative View Mohamed Ariff 3. Exchange Rate Changes and Global Trade Imbalances: China as a Major Creditor Company Ronald I MacKinnon 4. Bank Capital Adequacy, Where to Now? Kevin Davis PART II: CRISIS IMPACT ON ECONOMIC ACTIVITIES AND COSTS 5. Unemployment and the Global Financial Crisis: Who Suffered Most and Why? Melisa Bond and Noel Gaston 6. The Fiscal Policy Response to the Global Financial Crisis: A Critique Tony Makin 7. Cost Consequences to the Economy and Finance Ahmed Khalid PART III: GOVERNANCE AND REGULATORY ISSUES OF THE CRISIS 8. Improving the Governance of Financial Institutions John Farrar 9. The Work of IOSCO and the Financial Regulatory Framework Jane Diplock 10. Balancing National and International Interests Wayne Byres PART IV: LESSONS FROM THE CRISIS 11. Executive Remuneration in Australia Alan Fels 12. Regulatory Lessons from the Global Financial Crisis Jeffrey Carmichael 13. Should We Stop IMF from Doing What It Should Not Do? A Radical Idea Ross P. Buckley 14. When History is Ignored, Business Black Swans and the Use and Abuse of a Notion Graeme Dean and Frank Clarke

.

The Big Problem of Small Change: Thomas J. Sargent & François R. Velde Thomas J. Sargent, Winner of the 2011 Nobel Prize in Economics Winner of 2003 Association of American

Publishers Award for Best Professional/Scholarly Book in Business Management & Accounting.

Paper | 2003 | $42.00 / £28.95 | ISBN: 9780691116358 Description The Big Problem of Small Change offers the first credible and analytically sound explanation of how a problem that dogged monetary authorities for hundreds of years was finally solved. Two leading economists, Thomas Sargent and François Velde, examine the evolution of Western European economies through the lens of one of the classic problems of monetary history--the recurring scarcity and depreciation of small change. Through penetrating and clearly worded analysis, they tell the story of how monetary technologies, doctrines, and

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practices evolved from 1300 to 1850; of how the "standard formula" was devised to address an age-old dilemma without causing inflation. One big problem had long plagued commodity money (that is, money literally worth its weight in gold): governments were hard-pressed to provide a steady supply of small change because of its high costs of production. The ensuing shortages hampered trade and, paradoxically, resulted in inflation and depreciation of small change. After centuries of technological progress that limited counterfeiting, in the nineteenth century governments replaced the small change in use until then with fiat money (money not literally equal to the value claimed for it)--ensuring a secure flow of small change. But this was not all. By solving this problem, suggest Sargent and Velde, modern European states laid the intellectual and practical basis for the diverse forms of money that make the world go round today. This keenly argued, richly imaginative, and attractively illustrated study presents a comprehensive history and theory of small change. The authors skillfully convey the intuition that underlies their rigorous analysis. All those intrigued by monetary history will recognize this book for the standard that it is. Reviews: "The core of [the] story is a mathematical model, in this case one that captures possible solutions to the small-change puzzle, including the correct one. . . . For centuries, authorities sensed that economic health depended on the steady, predictable availability of currency. But they did not understand how to realize this goal. Messrs. Sargent and Velde deserve credit for revealing how the correct model came into being. . . . More than a penny for their thoughts."--Paul Podolsky, The Wall Street Journal "This fascinating new history of money shows that the key ingredients of a sound currency were identified in Europe hundreds of years ago. The mystery is why, even today, so many governments fail to put this knowledge to work."--The Economist "This elegantly written, scholarly work will appeal to those interested in financial history or monetary theory."--Publishers Weekly "[The authors'] design serves as a temple for the conduct of research in economics as an empirical science. They have done it just right. Their book is strongly recommended."--Choice "This is an important and wide-ranging book, which will reshape the way in which we think of the origins of modern money and modern monetary theory. It is . . . so well organized that the lay reader can get the message simply by reading the fascinating narrative and taking for granted the mathematical account of the standard formula, presented in two chapters at the conclusion. It is also splendidly illustrated and beautifully produced."--Harold James, Times Literary Supplement

TABLE OF CONTENTS: List of Illustrations xiii List of Tables xv Preface xvii Acknowledgments xxi Part I: A Problem and Its Cure Chapter 1. Introduction 3 Paper and gold. The enduring problem of small change. A model. Supply side: the mint. Demand side: the coin owner. Shortages. Price level determination. Remedies. A history. Structure of subsequent chapters. Chapter 2. A Theory 15 Valuation by weight or tale. A basic one-denomination theory. Multiple denominations. Supply. Demand. Interactions of supply and demand. Economics of interval alignments. Perverse dynamics. Spontaneous debasements: invasions of foreign coins. Costs and Temptations. Opportunity cost. An open market operation from Castile. An open market operation for the standard formula. Transparency of opportunity cost. Trusting the government with bi = 0. Chapter 3. Our Philosophy of History 37 History and theory. Clues identified by our model. Cures. Our history. Part II: Ideas and Technologies Chapter 4. Technology 45 Small coins in the Middle Ages. The purchasing power of a small coin. The medieval technology: hammer and pile. Production costs and seigniorage. Mechanization. The screw press. The cylinder press. Other inventions. The steam engine. Counterfeiting, duplicating, imitating. Technologies and ideas.

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Chapter 5. Medieval Ideas about Coins and Money 69 Medieval jurists as advocates of Arrow-Debreu. Romanists and Canonists. Construction of the medieval common doctrine. Sources and methods of the romanists. Money in a legal doctrine of loans. Tests in a one-coin environment. Multiple currencies and denominations. Multiple denominations. Multiple metals. Fluctuating exchange rates: the stationary case. Multiple units of accounts. Demonetization. Overdue payments and extrinsic value. Trends in exchange rates. Debasements and currency reforms. A question from public law: setting seigniorage rates. Sources of the canonists. Debasements and seigniorage rates. Qualifications, exceptions, and discoveries. Early statement of double coincidence. Romanists repair the breach. Canonists versus romanists on seigniorage. Another breach. Philosophers help. The cracks widen: debasements and deficit financing. Concluding remarks. Chapter 6. Monetary Theory in the Renaissance 100 Precursors of Adam Smith. Debt repayment, legal tender, and nominalism. Dumoulin the revolutionary. Dumoulin's impact. Dumoulin the conservative. Fiat money. Fiat money in theory: Butigella. Double coincidence of wants revisited. Other formulations. Fiat money in practice. The conditions for valued fiat money. Restrictions on fiat money. Limited legal tender. Quantity theory. Lessons from the Castilian experience: fiat money. In Spain: Juan de Mariana (1609). Forecasting inflation. In France: Henri Poullain (1612). Concluding remarks. Part III: Endemic Shortages and "Natural Experiments" Chapter 7. Clues 123 Shortages of small change and bullion famine. Shortages and invasions of coins. Ghost monies and units of account. Free minting. The evidence. Chapter 8. Medieval Coin Shortages 131 England. France. Shortages elsewhere. Concluding remarks. Chapter 9. Medieval Florence 139 Turbulent debut of large coins in Tuscany. The Quattrini affair. Ghost monies as legal tender and unit of account. Florentine ghost monies: details. Concluding remarks. Appendix A: mint equivalents and mint prices. Minting. Appendix B: a price index for fourteenth-century Florence. Chapter 10. Medieval Venice 160 Four episodes. Piccolo and grosso, 1250 to 1320. Evolving units of account. Silver and gold, 1285 to 1353. Adaptation of units of account. Soldino and ducat, 1360 to 1440. Rehearsing fiat money. The torneselli in Greece. Expansion near Venice. Concluding remarks. Appendix: mint equivalents and mint prices. Chapter 11. The Price Revolution in France 186 Relative price change as inflation. Disturbances to coin denominations. A three-coin model. Supply: movements in the relative prices of metals. Demand: within the intervals shortages. Anatomy of money and inflation. Types of coins and units of account. The price level. Supply: the relative price of gold and silver. Debasement of billon coins. Mysterious movements in exchange rates. Evidence of small coins shortages. Policy responses. Perception of the problem by the authorities. Unit of account and legal tender. Units of account and international trade: the fairs of Lyon. The reform of 1577. Collapse of the reform. Concluding remarks. Appendix: mint equivalents and mint prices. Chapter 12. Token and Siege Monies 216 Precursors of the standard formula. Medieval tokens. Siege money. Convertible token currency: an early experiment. First attempt at standard formula. Part IV: Cures and Side-effects Chapter 13. The Age of Copper 227 The coinage of pure copper. Experiments in many countries. Chapter 14. Inflation in Spain 230 Elements of the standard formula. The Castilian experiment. Monetary manipulations. Restamping. Crying down coins. Theory of the Castilian tokens. Additional notation. Multiple regimes. More learning: aspects of indeterminacy. The evidence. The end of the token coin experiment. Comparison with inflation during the French Revolution. Unintended consequence for Sweden. Concluding remarks. Appendix: money stocks and prices. Chapter 15. Copycat Inflations in Seventeenth-Century Europe 254 France: flirting with inflation. Catalonia. Germany. Russia. The Ottoman empire. Chapter 16. England Stumbles toward the Solution 261 Free-token and other regimes. Laissez-faire or monopoly: England's hesitations. Private monopoly (1613-44). Laissez-faire. The Slingsby doctrine. Government monopoly. The Great Recoinage of 1696. The monetary system under the Restoration (1660-88). The crisis. A model with underweight coins.

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The Locke-Lowndes debate. The Great Recoinage. Locke: genius or idiot? Chapter 17. Britain, the Gold Standard, and the Standard Formula 291 The accidental standard. Laws and ceilings. The guinea and legal tender laws. Newton's forecasts. Gold becomes the unit of account. Underweight coins. Neglect the pence. Implementation of the standard formula. Chapter 18. The Triumph of the Standard Formula 306 Germany's monetary union of 1838. Bimetallism versus the gold standard. Bimetallism in a small country. Worldwide bimetallism. Passage to gold. The United States. The Latin Monetary Union. Free riders in monetary unions. The accident of 1873. The standard formula limps into place. Chapter 19. Ideas, Policies, and Outcomes 320 Evolutions of ideas and institutions. Our history. Experiments. Major themes. Beliefs and interests. Units of account and nominal contracts. Small change and monetary theory. Currency boards, dollarization, and the standard formula. Learning by markets and by governments. Part V: A Formal Theory Chapter 20. A Theory of Full-Bodied Small Change 335 Chapter 21. The Model 337 The household. Production. Production of goods. Production of coins. Government. Timing. Equilibrium. Analytical strategy. The firm's problem. Implications of the arbitrage conditions for monetary policy. Interpretations of o2. Full-weight and underweight coins. The household's problem. Chapter 22. Shortages: Causes and Symptoms 350 Equilibria with neither melting nor minting. Stationary equilibria with no minting or melting. Small coin shortages. Small coin shortage, no minting or melting. Permanent and transitory increases in 6. Logarithmic example. Money shortages bring inflation. Shortages of small coins through minting of large coins. Shortages through melting of full-weight small coins. Perverse effects and their palliatives. Chapter 23. Arrangements to Eliminate Coin Shortages 366 A standard formula regime. Variants of the standard formula. The standard formula without convertibility: the Castilian experience. Fiat currency. Chapter 24. Our Model and Our History 373 Glossary 375 References 377 Legal Citations Index 393 Author Index 395 Subject Index 399

Enterprise Risk Management Best Practices: From Assessment to Ongoing Compliance Anne M. Marchetti ISBN: 978-0-470-91740-4 Hardcover 180 pages November 2011 £42.50 / €48.00 Description High-level guidance for implementing enterprise risk management in any organization A Practical Guide to Risk Management shows organizations how to implement an effective ERM solution, starting with senior management and risk and compliance professionals working together to categorize and assess risks throughout the enterprise. Detailed guidance is provided on the key risk categories, including

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financial, operational, reputational, and strategic areas, along with practical tips on how to handle risks that overlap across categories. Provides high-level guidance on how to implement enterprise risk management across any organization Includes discussion of the latest trends and best practices Features the role of IT in ERM and the tools that are available in both assessment and on-going compliance Discusses the key challenges that need to be overcome for a successful ERM initiative Walking readers through the creation of ERM architecture and setting up on-going monitoring and assessement processes, this is an essential book for every CFO, controller and IT manager. Table Of Contents Preface. Chapter 1: Enterprise Risk Management Overview. ERM Introduction. Guidance: History and Relationship. Organization View. ERM Today. Increased Pressure to Manage Risk. Additional Evidence. Perceived Barriers to Risk Management. Building the Business Case for ERM: Value and Benefits. Keys to Success. Summary. Chapter 2: Corporate Governance and Roles and Responsibilities. Board Behavior. Corporate Culture. Roles and Responsibilities. Summary. Chapter 3: ERM Defined. Definitions and Concepts Risk Categories. The Internal Environment. Summary. Notes. Chapter 4: The ERM Process: Step by Step. Step 1: Strategy and Objective Definition. Step 2: Event Identification. Step 3: Risk Assessment. Step 4: Risk Response. Step 5: Communication. Step 6: Monitoring. Oversight. Summary. Notes. Chapter 5: COSO Framework and Financial Controls. Focus on Financial Controls. Control Environment. Integrity and Ethical Values. Board of Directors. Management's Philosophy and Operating Style. Organizational Structure. Financial Reporting Competencies. Authority and Responsibility. Human Resources. Summary Notes. Appendix 5A: Whistleblower Program.

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Reports Regarding Accounting Matters. Investigation of Suspected Violations. Discipline for Violations. Appendix 5B: Excerpt from a Code of Ethics Policy. 1.0 Our Guiding Principles and Values. 2.0 Conflicts of Interest. 3.0 Confidential Information; Intellectual Property. Appendix 5C: Approval Policy and Procedures. Policy. Purpose. Scope. Approvals/Documentation. Chapter 6: Financial Controls and Risk Assessment. Risk Assessment. Financial Reporting Objectives. Financial Reporting Risks. Fraud Risk. Entity-Level Controls. Example: Risk Assessment and Financial Controls. Evaluating Deficiencies. Summary. Notes. Appendix 6A: Entity Level Control Assessment. Control Assessment Overview. Control Environment. Overall Evaluation of Control Environment. Risk Assessment. Overall Evaluation of Risk Assessment. Control Activities. Overall Evaluation of Control Activities. Information and Communication. Overall Evaluation of Information and Communication. Monitoring. Overall Evaluation of Monitoring. Summary Assessment. Overall Assessment of Internal Controls. Appendix 6B: Accounts Payable: Preliminary Controls Assessment Questionnaire. Purchasing Controls Questionnaire. Internal Control Assessment. Appendix 6C: Fraud Risk Factors: AU Section 316. Risk Factors Relating to Misstatements Arising from Fraudulent Financial Reporting. Chapter 7: Ongoing Compliance Overview. Origin of Sarbanes-Oxley Act. Generating Value from Compliance. Moving beyond Initial Compliance. Reevaluating the Compliance Program. Summary. Chapter 8: Ongoing Compliance Challenges. Future State Opportunity: Compliance Optimization. Issues to Consider When Optimizing Compliance. Ongoing Compliance Plan. Role of Internal Audit: Balancing the Compliance and Audit Functions. The Evolving Role of the Audit Committee. Summary. Chapter 9: Addressing Compliance and Risk Management Challenges through Automation. Software Can Add Value beyond Compliance. Monitoring Software.

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Utilization of Continuous Monitoring: Control Testing and Control Automation. Benefits of Continuous Monitoring. Continuous Monitoring Tool Considerations. Continuous Monitoring Process. Risk Management Software. Unifying Financial Statements, Close Tasks, and SOX Controls. Determining the Right Solution. Summary. Notes. Chapter 10: Ongoing Compliance and IFRS International Financial Reporting Standards. Communicating the Impact. Preparing for International Financial Reporting Standards. Comprehensive IFRS Transition Approach. Key Elements of an Effective IFRS Implementation. Summary. About the Author. Index. Author Information Anne M. Marchetti has twenty-five years of finance and accounting experience in both private industry and public accounting. She is a Sarbanes-Oxley subject matter expert focused on the design, implementation, analysis, and optimization of internal control systems and corporate governance programs. Ms. Marchetti has worked globally with both public and private entities in most industries as well as organizations of all sizes. She regularly interacts with Big Four, middle market, and local external audit firms as a liaison on behalf of these organizations. She is a member of the AICPA faculty and is the author of Beyond Sarbanes-Oxley Compliance: Effective Enterprise Risk Management and Sarbanes-Oxley Ongoing Compliance Guide, both published by Wiley.

Mathematical Finance M. J. Alhabeeb ISBN: 978-0-470-64184-2 Hardcover 536 pages March 2012, ©2012 £66.95 / €80.40 Description

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An introduction to the mathematical skills needed to understand finance and make better financial decisions Mathematical Finance enables readers to develop the mathematical skills needed to better understand and solve financial problems that arise in business, from small entrepreneurial operations to large corporations, and to also make better personal financial decisions. Despite the availability of automated tools to perform financial calculations, the author demonstrates that a basic grasp of the underlying mathematical formulas and tables is essential to truly understand finance. The book begins with an introduction to the most fundamental mathematical concepts, including numbers, exponents, and logarithms; mathematical progressions; and statistical measures. Next, the author explores the mathematics of the time value of money through a discussion of simple interest, bank discount, compound interest, and annuities. Subsequent chapters explore the mathematical aspects of various financial scenarios, including: Mortgage debt, leasing, and credit and loans Capital budgeting, depreciation, and depletion Break-even analysis and leverage Investing, with coverage of stocks, bonds, mutual funds, options, cost of capital, and ratio analysis Return and risk, along with a discussion of the Capital Asset Pricing Model (CAPM) Life annuities as well as life, property, and casualty insurance Throughout the book, numerous examples and exercises present realistic financial scenarios that aid readers in applying their newfound mathematical skills to devise solutions. The author does not promote the use of financial calculators and computers, but rather guides readers through problem solving using formulas and tables with little emphasis on derivations and proofs. Extensively class-tested to ensure an easy-to-follow presentation, Mathematical Finance is an excellent book for courses in business, economics, and mathematics of finance at the upper-undergraduate and graduate levels. The book is also appropriate for consumers and entrepreneurs who need to build their mathematical skills in order to better understand financial problems and make better financial choices. About Author M. J. ALHABEEB, PhD, is Professor of Economics and Finance at the University of Massachusetts Amherst. A recipient of the Academy of Educational Leadership's Outstanding Teaching Award for Innovative and Creative Teaching, Dr. Alhabeeb has been teaching finance and various courses in economics for more than thirty years.

Managing Risks in Commercial and Retail Banking Amalendu Ghosh ISBN: 978-1-1181-0353-1 Hardcover 480 pages March 2012 £80.00 / €96.00 Description A practical guide to the practices and procedures of effectively managing banking risks Managing Risks in Commercial and Retail Banking takes an in-depth, logical look at dealing with all aspects of risk management within the banking sector. It presents complex processes in a simplified way by providing

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real-life situations and examples. The book examines all dimensions of the risks that banks face—both the financial risks—credit, market, and operational—and the non-financial risks—money laundering, information technology, business strategy, legal, and reputational. Focusing on methods and models for identifying, measuring, monitoring, and controlling risks, it provides practical advice backed up by solid theories, without resorting to the use of complicated mathematical and statistical formulas. Author Amalendu Ghosh exposes topics that are usually absent in books on managing banking risk—such as design of control framework, risk management architecture, credit risk rating, risk-based loan pricing, portfolio analysis, business continuity planning, and corporate governance. Author has extensive experience with a variety of major banks and institutions worldwide and brings a fresh perspective in the wake of the global finance crisis Presents a novel approach using models of the credit risk rating of different types of borrowers, the methodology for assigning weights for deriving the rating, and the scoring process Covers the essentials of corporate governance and options for credit risk assessment in line with the recommendations made in the New Basel Capital Accord Explains the methodology of risk-based internal audit, including techniques to enable bank branches to switch over from the old transaction-based audit methods With its logical sequence of the aspects of risk management, the book's layout is ideal for presentations, making it a handy tool for risk management training

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