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OFI NANCETHE ULTIMATE RESOURCE
B L O O M S B U R Y
• • a-z
ContentsForeword xviiAdvisory panel xviiiStaff, Contributors, and Advisers xxContributors xxiUser Guide xlv
BEST PRACTICEBalance Sheets and Cash FlowAdvantages of Finance Best Practice 8
Networks Hans-Dieter ScheuermannAllocating Corporate Capital Fairly 11
John L. MariottiAsset Liability Management for 13
Pension Funds Ruud KleynenBest-Practice Working Capital a6
Management: Techniques forOptimizing Inventories,Receivables, and Payables PatrickBuchmann and Udo Jung
Best Practices in Cash Flow 20Management and Reporting Hans-Dieter Scheuermann
Capital Budgeting: The Dominance 25of Net Present Value HaroldBierman, Jr
Capital Structure: Perspectives John 29C. Groth
Cash Flow Best Practice for Small 33and Medium-Sized EnterprisesRita Herron Brown
Comparing Net Present Value and 36Internal Rate of Return HaroldBierman, Jr
Corporate Finance for SMEs Terry 39Carroll
Dangers of Corporate Derivative 42Transactions David Shimko
Factoring and Invoice Discounting: 45Working Capital ManagementOptions Irena Jindrichovska
Fair Value Accounting: SFAS157 and 48IAS 39 Kevin Ow Yong
How Taxation Impacts on Liquidity 51Management Martin O'Donovan
How to Assess a Company's Global 53Treasury Needs and ObjectivesSuccessfully Gary Silha
How to Better Manage Your 56Financial Supply Chain JuergenBernd Weiss
How to Manage Pension Costs 59Edmund Truell
Introduction to Islamic Financial 62Risk Management Products Qudeer ,Latif and Susi Crawford
Managing 21st Century Finances 66Terry Carroll
Managing Capital Budgets for Small 68and Medium-Sized Companies NeilSeitz
Managing Counterparty Credit Risk 71David Shimko
Managing Interest Rate Risk Will 74Spinney
Managing Liquidity in China— 77Challenging Times Marlene Wittman
Managing Liquidity Risk in a 82Financial Institution: The Dangersof Short-Term Liabilities DavidShimko
Managing Retirement Costs Beverly 85Goldberg
Viewpoint: Moving Away from 88Traditional Budgeting LawrencePhillips v
Navigating a Liquidity Crisis 91Effectively Klaus Kremers
Payment Factories: How to 94Streamline Financial Flows ChrisSkinner
Pension Schemes: A Unique and 96Unintended Basket of Risks on theBalance Sheet Amarendra Swarup
Quantifying Corporate Financial 100Risk David Shimko
Risk Management of Islamic 103Finance Instruments Andreas Jobst
To Hedge or Not to Hedge Steve ' 107Robinson
A Total Balance Sheet Approach to noFinancial Risk Terry Carroll
Using Structured Products to 113Manage Liabilities Shane Edwards
The Value and Management of 116Intellectual Property, IntangibleAssets, and Goodwill Kelvin King
Valuing Pension Fund Liabilities on 120the Balance Sheet Steven Lowe
Financial MarketsViewpoint: Asia: Future 123
Perspectives Jim RogersBanks and Small and Medium-Sized 125
Enterprises: Recent BusinessDevelopments Sergio Schmukler,Augusto de la Torre, and Maria SoledadMartinez Peria
Viewpoint: China's Financial 128System—Challenges andOpportunities Fred Hu
Climate Change and Insurance 130• Stephen HaddrillThe Crash and the Banking Sector— 132
The Road to Recovery Angela KnightCredit Derivatives—The Origins of 134
the Problem Eric R. DinalloViewpoint: Difficult Challenges 136
Ahead for China and India RobertCutler
Enterprise Risk Management and 139Solvency II Andy Davies
Viewpoint: Europe and the Euro: A 143Geopolitical View—AnImplausible Currency but the BestAlternative to Naked Conflict?Marko Papic
Viewpoint: The Final Decoupling Is 146Going to Be a Painful Wake-UpCall for the West Bruce Stout
Viewpoint: The Financial Crisis and 149the World's Poor Muhammad Yunus
The Globalization of Inflation Diana 152Choyleva
Viewpoint: The Global Risk Map and 155the Current Credit Crunch Peter,Lord Levene
Viewpoint:'Goldman Sachs, the 157Symbol and Essence of What WentWrong with Western CapitalismJames Anderson
How the Settlement Infrastructure 160Is Surviving the FinancialMeltdown Yves Poullet
India and Brazil—Still Winners as 163the Global Economy Collapses?Maya Bhandari
Insurance—Bruised, Not Crushed 167Robert P. Hartwig
The Insurance Sector: Plenty of 169Silver Lining to Be FoundAndrew Milligan
Interdependence of National and 172International Markets: TheForeign InformationTransmission (FIT) Model BoulisIbrahim and Janusz Brzeszczynski
The International Role of Islamic 176Finance Andreas Jobst
Islamic Insurance Markets and 180the Structure of TakqfidSuzanne White
Viewpoint: Shariah Law—Bringing a 182New Ethical Dimension toBanking Amjid Ali
Longevity, Reserves, and 184Annuities—A Difficult Circle toSquare Paul Belok
Middle East and North Africa 187Region: Financial Sector andIntegration Samy Ben Naceur andChiraz Labidi
Mixflation Giles Keating 191Viewpoint: New Dollar Area—The 195
Makings of the Mess Brian ReadingViewpoint: No Quick Fix for the 199
Eurozone Joseph TrevisaniViewpoint: A One-in-Fifty-Year 201
Event Leigh SkeneViewpoint: Only White Swans on the 205
Road to Revulsion James MontierViewpoint: Opaque Derivatives 207
Market is West's Achilles HeelHernando de Soto
The Origins and Current State of the 209Buyout Market for Pension FundsSteven Haasz
Outsourcing and the Banks Shamus 212Rae
The Payment Services Directive: A 215Crucial Step Toward PaymentHarmonization Across the EUBjorn Flismark
The Perfect Storm—Why Did No One 218See It Coming? The Missing Piecein Risk Management Nigel Walder
Viewpoint: The Problem with 220Derivatives, Quants, and RiskManagement Today Paul Wilmott
Viewpoint: Renewing Capitalism 223Matthew Bishop
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Viewpoint: Risk Management at a 226Crossroads Maureen J. Miskovic
Rules versus Discretion in 228Supervisory Interventions inFinancial Institutions Marc Quintyn
Solvency II—A New Regulatory 231Framework for the InsuranceSector Paul Barrett
Viewpoint: Stability Proves Testing 233for China Matthew Gertken
Viewpoint: Trust, Fear, and a Dead 236Economist Todd Buchholz
Viewpoint: Understanding and 238Forecasting the Credit Cycle—Whythe Mainstream Paradigm inEconomics and Finance CollapsedRichard A. Werner
Viewpoint: What Models Do We 242Need for Risk Management?Riccardo Rebonato
Viewpoint: What Would a New 246Bretton Woods Mean for the IMF?Augusto Lopez-Claros
Why Printing Money Sometimes 249Works for Central Banks PaulKasriel
Viewpoint: Why the World Needs a 251Green New Deal Achim Steiner andPavan Sukhdev
Viewpoint: Yet Another Nail in the 253Final Salary Scheme CoffinTony Clare
Financial Regulation and ComplianceAccounting for Share-Based 255
Payments under IFRS ShanKennedy
Aligning the Internal Audit Function 258with Strategic Objectives Hi asG. Basioudis
The Assurance versus Consulting 262Debate: How Far Should InternalAudit Go? Michael Parkinson
Best Practices in Risk-Based 265Internal Auditing Sheryl Vacca
Classification and Treatment of 268Leases Roger Lister
Contemporary Developments in 271International Auditing RegulationChristopher Humphrey and Anne Loft
Costs and Benefits of Accounting- 276Based Regulation in EmergingCapital Markets Wang Jiwei
Viewpoint: The Credit Crunch Was 278l ike an Atomic Bomb; It WillProfoundly Change How WeThink and Behave William Hopper
The Effect of SOX on Internal 281Control, Risk Management, andCorporate Governance BestPractice David A. Doney
Effective Financial Reporting and 284Auditing: Importance andLimitations Andrew Higson
Engaging Senior Management in 287Internal Control Philip Ratcliffe
Viewpoint: Fragment or Unite—But 289Decide! The Future of EUFinancial Supervision BernhardSpeyer and Norbert Walter
Has Financial Reporting Impacted 291on Internal Auditing Negatively?Andrew Chambers
How Can Internal Audit Report 295Effectively to Its Stakeholders?Andrew Cox
How Internal Auditing Can Help 299with a Company's Fraud IssuesGail Harden
How Much Independence for 304Supervisors in Financial MarketRegulation? Marc Quintyn
How to Implement a Standard Chart 308of Accounts Effectively Aziz Tayyebi
Identifying the Main Regulatory 311Challenges for Islamic FinanceBilal Rasul
Implementing an Effective Internal 314Controls System Andrew Chambers
Incorporating Operational and 318Performance Auditing intoCompliance and FinancialAuditing Andrew Cox
Internal Audit and Partnering with 321Senior Management Bruce Turner
Internal Audit Planning: How Can 325We Do It Better? Michael Parkinson
The Internal Audit Role—Is There an 327'Expectation Gap in YourOrganization? Jeffrey Ridley
Internal Auditors and Enterprise 330Risk Management Ian Fraser
The LIFO Conundrum: Convergence 333of US GAAP with IFRS and ItsImplications on US CompanyCompetitiveness William C. White IV
Managing the Relationships 335between Audit Committees andthe CAE Richard E. Cascarino
New Assurance Challenges Facing 338Chief Audit Executives Simon D'Arcy
Viewpoint: No More Room for 342"Business as Usual" ErnstLigteringen
Optimizing Internal Audit Andrew 344Chambers
Origins and Rationale for IFRS 347Convergence Peter Walton
Performance Reporting under IFRS 351Peter Casson
Principles versus Rules in Financial 353Supervision—Is There OneSuperior Approach? Marc Quintyn
Procedures for Reporting Financial 357Risk in Islamic Finance Daud VicaryAbdullah and Ramesh Pillai
The Rationale of International 360Financial Reporting Standardsand Their Acceptance by MajorCountries Veronique Weets
Viewpoint: Regulation after the 363Crash Viral Acharya and Julian Franks
Revising Basel II—But at What Cost? 366Vishal Vedi
Starting a Successful Internal Audit 368Function to Meet Present andFuture Demands Jeffrey Ridley
Tripping over Prudence—Ideas for a 372Sensible Fix for Basel II SamuelSender and Noel Amenc
Understanding the Requirements 375for Preparing IFRS FinancialStatements Veronique Weets
US Financial Regulation: A Hopeless 377Tangle, or Complexity for aPurpose? Lawrence J. White
What Are the Leading Causes of 380Financial Restatements? ToddDeZoort
What Is the Range of the Internal 383Auditor's Work? Andrew Cox
Why Organizations Need to be 387Regulated—Lessons from HistoryBridget Hutter
Funding and InvestmentThe Ability of Ratings to Predict the 390
Performance of Exchange-TradedFunds Gerasimos G. Rompotis
Acquiring a Secondary Listing, or 394Cross-Listing Meziane Lasfer
Assessing Venture Capital Funding 397for Small and Medium-SizedEnterprises Alain Fayolle and JosephLiPuma
Asset Allocation Methodologies Tom 400Coyne
Attracting Small Investors Wondimu 405Mekonnen
Booms, Busts, and How to Navigate 408Troubled Waters Joachim Klement
Carrying Out Due Diligence on 411Hedge Funds Amarendra Swamp .
Carrying Out Due Diligence on 414Private Equity Funds Rainer Ender
The Case for SMART Rebalancing 417Arun Muralidhar and SanjayMuralidhar
The Changing Role and Regulation 421of Equity Research Simon Taylor
Corporate Covenant and Other 423Embedded Options in PensionFunds Theo Kocken
The Cost of Going Public: Why IPOs 426Are Typically Underpriced LenaBooth
Credit Ratings David Wyss 429Equity Issues by Listed Companies: 432, Rights Issues and Other Methods
Seth ArmitageERM, Best's Ratings, and the 435
Financial Crisis Gene C. LaiEthical Funds and Socially 437
Responsible Investment: AnOverview Chendi Zhang
Financial Steps in an IPO for a Small 440or Medium-Size Enterprise Hurig-Gay Fung
Forecasting Default Rates and the 443Credit Cycle Martin S. Fridson
Forget Sovereign Wealth Funds 446Diana Choyleva J
Funds of Hedge Funds versus Single- 448Manager Funds Steve Wallace
Hedge Fund Challenges Extend 450Beyond Regulation Kevin Burrows
How and When to Use Nonrecourse 453Financing Thomas McKaig
How Stockholders Can Effectively 455Engage with Companies JamesGifford
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The Impact of Index Trackers on 458Shareholders and Stock VolatilityMartin Gold
Investing Cash: Back to Basics Mark 461Camp and Emma Du Haney —_~^^
Viewpoint: Investing in a Volatile 464Environment: A Black SwanPerspective Javier Estrada
Investing in Structured Finance 466Products in the Debt MoneyMarkets Moorad Choudhry
Viewpoint: The Investment Banks 471Are on a "Stairway to Heaven"Philip Augar
IPOs in Emerging Markets Janusz 474Brzeszczynski
Islamic Capital Markets: The Role of 477Sukuk Rodney Wilson
Islamic Modes of Finance and the 480Role of Sukuk Abdel-Rahman YousriAhmad
Issuing Corporate Debt Steven Lowe 483Managing Activist Investors 486
and Fund Managers Leslie L. KossoffMeasuring Company Exposure to 489
Country Risk Aswath Damodaran ,Measuring Country Risk Aswath 492
DamodaranViewpoint: Microfinancing Jacques 495
AttaliMinimizing Credit Risk Frank J. 497
FabozziMoney Managers David 500
Pitt-WatsonOptimizing the Capital Structure: 503
Finding the Right Balancebetween Debt and Equity MezianeLasfer
The Performance of Socially 506Responsible Mutual Funds LucRenneboog
Price Discovery in IPOs Jos van 510Bommel
Private Equity Fund Monitoring and' 513Risk Management Rainer Ender
Private Investments in Public Equity 516William K. Sjostrom, Jr
Public-Private Partnerships in 518Emerging Markets Peter.Koveos andPierre Yourougou
Raising Capital in Global Financial 522Markets Reena Aggarwal
Raising Capital in the United 525Kingdom Lauren Mills
Rigidity in Microfinancing: Can One 528Size Fit All? Dean Karlan and SendhilMullainathan
The Role of Commodities in an 531Institutional Portfolio Keith Blackand Satya Kumar
The Role of Institutional Investors 535in Corporate Financing Hao Jiang
The Role of Short-Sellers in the 539Marketplace Raj Gupta
Viewpoint: Savings Is a Growth 543Industry Anthony Bolton
Securitization: Understanding the 545Risks and Rewards TarunSabarwal
Sources of Venture Capital Lawrence 548Brotzge
Understanding and Accessing 551Private Equity for Small andMedium Enterprises Arne-G.Hostrup
Understanding Equity Capital in 554Small and Medium-SizedEnterprises Siri Terjesen
Understanding the Role of ' 558Diversification GuofuZhou
Understanding the True Cost of 560Issuing Convertible Debt andOther Equity-Linked FinancingRoger Lister
Using Securitization as a Corporate 563Funding Tool Frank J. Fabozzi
Valuation and Project Selection 567When the Market and Face Valueof Dividends Differ GrahamPartington
Viewpoint: We Need More Quants in 571Finance, Not Fewer Alex McNeil
What the Rise of Global Banks 574Means for Your Company ChrisSkinner
When Form Follows Function: How 576Core—Satellite Investing HasSparked an Era of ConvergenceChristopher Holt
Governance and EthicsBalancing Senior Management 580
Compensation Arrangements withShareholders' Interests HenrikCronqvist
Viewpoint: Ban Share Options and 583Stop Subsidizing Banks BeforeRecovery Andrew Smithers
Best Practices in Corporate Social 586Responsibility Alison Kemper andRoger Martin
Best Practice in Investment 590Governance for Pension FundsRoger Urwin
Boardroom Roles Sir Adrian 593Cadbury
Business Ethics Sue Newell 595Viewpoint: The "Comply or Explain" 598
Approach to Improving Standardsof Corporate Governance SirChristopher Hogg
Corporate Board Structures Vidhan 601Goyal
Corporate Governance in 605Transitional Countries-Shareholders or Stakeholders?Irena Jindrichovska
Corporate Responsibility in a Global 608World: Marrying Investment inHuman Capital with Focus onCosts Angela Baron
CSR: More than PR, Pursuing 611Competitive Advantage in theLong Run John Surdyk
Dividend Policy: Maximizing 614Shareholder Value HaroldBierman, Jr
Executive Rewards: Ensuring That 618Financial Rewards MatchPerformance Shaun Tyson
Financial Reporting: Conveying the 622Message Down the Line Leslie L.Kossoff
Viewpoint: The Growth of 625Sustainability Reporting WimBartels
Identifying the Right Nonexecutive 628Director Terry Carroll
Improving Corporate Profitability 631Through Accountability Marc J.Epstein and Priscilla Wisner
Viewpoint: Ladies in Waiting Tim 633Hindle
Viewpoint: Lessons from Russia 635Bruce Misamore
Viewpoint: Lessons from the Credit 638Crisis: Governing FinancialInstitutions Jay W. Lorsch
Viewpoint: The Morals of Money— 640How to Build a SustainableEconomy and Financial SectorRoger Steare
Viewpoint: Regulation, Corporate 642Governance, and BoardroomPerformance Must Be Shaken UpIf We Are to Avoid AnotherFinancial Crisis Stewart Hamilton
Reinvesting in the Company versus 645Rewarding Investors withDistributions Ruth Bender
Mergers and AcquisitionsAccounting for Business 648
Combinations in Accordance withInternational Financial ReportingStandards (IFRS) RequirementsShan Kennedy
Acquisition Integration: How to Do 651It Successfully David Sadtler
Capital Structure: A Strategy that' 653Makes Sense John C. Groth
Capital Structure: Implications John 658C. Groth
Viewpoint: The CFO and the 662Sustainable Corporation RaviNedungadi
Coping with Equity Market 664Reactions to M&A TransactionsScott Moeller
Cultural Alignment and Risk 667Management: Developing theRight Culture R. Brayton Bowen
Due Diligence Requirements in 670Financial Transactions Scott Moeller
Going Private: Public-to-Private 673Leveraged Buyouts Luc Renneboog
How to Set the Hurdle Rate for 676Capital Investments Jon Tucker
Identifying and Minimizing the ^ 679Strategic Risks from M&A PeterHowson
Leveraged Buyouts and Recession 682Louise Scholes and Mike Wright
Leveraged Buyouts: What, 686Why, When, and How Scott S.Johnson
Maximizing a New Strategic Alliance 689Peter Killing
Maximizing Value when Selling a 691Business John Gilligan
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MBOs: A High-Octane and l i fe- 694Changing Mode of Business AndyNash
Merger Integration and Transition 696Management: A New Slant forFinance Executives Price Pritchett
Mergers and Acquisitions: Patterns, 699Motives, and Strategic Fit SiriTerjesen
Mergers and Acquisitions: Today's 703Catalyst Is Working Capital JamesS. Sagner
The Missing Metrics: Managing 706the Cost of Complexity John L.Mariotti
Valuing Start-Ups Aswath Damodaran 709Why Mergers Fail and How to 712
Prevent It Susan Cartwright
Operations and PerformanceAligning Structure with Strategy: 714
Recalibrating for ImprovedPerformance and IncreasedProfitability R. Brayton Bowen
Assessing Opportunities for Growth 717in Developing Countries of Micro,Small, and Medium-SizeEnterprises Montague Lord
Assessing Opportunities for Growth 720in Small and Medium EnterprisesFrank Hoy
Avoiding the Mistakes of the Past: 723Lessons from the Startup WorldJames E. Schrager
Building Potential Catastrophe 725Management into a Strategic RiskFramework Duncan Martin
Business Continuity Management: 728How to Prepare for the WorstAndrew Hiles
Business Implications of the Single 732Euro Payments Area (SEPA)Juergen Bernd Weiss
Viewpoint: The Changing Role of the 734CFO Thibault de Tersant
Viewpoint: China 2020: Double and 736Quadruple Happiness FrankFeather
Viewpoint: China's Fragile New 738Prosperity Gabriel Stein and CharlesDumas
Corporate-Level Strategy David 741Sadtler
Viewpoint: Corporate Taxation and 743Its Impact on Foreign DirectInvestment Graeme Leach
Countering Supply Chain Risk Vinod 745Lall
Creating Value with EVA S. David 748Young
Dealing with Cybersquatters Shireen 751Smith
Designing Corporate Systems for 753Success Leslie L. Kossoff
Dispute Resolution: The Forum 755Selection Clause Elisabeth de Nadaland Victor Manuel Sanchez
Viewpoint: Economic Ebb and Flow, 758a World of Challenges andOpportunities Hamish McRae
Electronic Invoicing in the European 760Union Hansjorg Nymphius
Employee Stock Options Peter Casson 763Enhance Competitive Performance 765
via Critical Key PerformanceIndicators (KPIs) Zahirul Hoque
Essentials for Export Success: 769Understanding How Risks andRelationships Lead to RewardsPaul Beretz
Everything You Need to Know About 772Benchmarking Robin Mann
Viewpoint: The Evolving Role of the 776CFO Aldo Mareuse
Exporting Against Letters of Credit 778Buddy Baker
Financial Techniques for Building 782Customer Loyalty Ray Halagera
Five Routes to Greater Profitability 785for Small and Medium EnterprisesThomas McKaig
Fraud: Minimizing the Impact on 788Corporate Image Tim Johnson
Globalization and Regional Business 791Strategy Alan Rugman
Viewpoint: Globalization, 793Challenges and Threats—WhereWill the WTO and Free Trade Go?Mike Moore
Growing and Maximizing SME 795Profitability WithoutCompromising ROI Neil Marriott
Viewpoint: How the BBC 797Reshaped Its Finance FunctionZarin Patel
How to Manage Emerging Market 799Risks with Third Party InsuranceRod Morris
Human Risk: How Effective 802Strategic Risk Management CanIdentify Rogues Thomas McKaig
The Human Value of the Enterprise 805Andrew Mayo
The Impact of Climate Change on 808Business Graham Dawson
Increasing the Profitability of Small 811and Medium Enterprises—APractical Guide Tom Brown
The Impact of Demographics on 813Business and the World EconomyGabriel Stein
Viewpoint: The Importance of 817Trust—In Everything Jonathan M.Karpoff
Viewpoint: India Today and 820Tomorrow Rajiv Dogra
Innovation and the Path to Growth, 823Profitability, and CompetitivenessJohn Milton-Smith
Intellectual Capital Thomas A. Stewart 826International Arbitration: Basic 829
Principles and CharacteristicsStavros Brekoulakis
Joint Ventures: Synergies and 832Benefits Siri Terjesen
Managing Intellectual Capital Leif 835Edvinsson
Managing Operational Risks Using 837an All-Hazards Approach MarkAbkowitz
Multidimensional Performance 840Measurement Using the BalancedScorecard Priscilla Wisner
Multinationality and Financial 843Performance Alan Rugman
Multiparty and Multicontract 845Arbitration Stavros Brekoulakis
Viewpoint: Navigating the Financial 848Blogosphere Felix Salmon
Political Risk: Countering the 850Impact on Your Business IanBremmer
Profitability Analysis Using Activity- 853Based Costing Priscilla Wisner
Project Planning Techniques for 856Small and Medium EnterprisesDamian Merciar
Protecting Your Intellectual 859Property—Nonregistered RightsJeremy Phillips
Protecting Your Intellectual 861Property—Registered RightsJeremy Phillips
Real Options: Opportunity from 863Risk David Shimko
Reducing Costs and Improving 866Efficiency by Outsourcing andSelecting Suppliers Paul Davies
Reducing Costs and Improving 869Efficiency with New ManagementInformation Systems BeverlyGoldberg
Reducing Costs through Change 872Management Beverly Goldberg
Reducing Costs through Production 875and Supply Chain ManagementVinod Lall
Return on Talent Subir Chowdhury 878Risk Management: Beyond 880
Compliance Bill SharonRisk—Perspectives and Common 884
Sense Rules for Survival John C.Groth
Statistical Process Control for 888Quality Improvement PriscillaWisner
Toward a Total Global Strategy 893George Yip
Turning Around Financial 896Performance David Magee
Viewpoint: Understanding Global 899Risks for the Corporate ThierryMalleret
Understanding Reputation Risk and 901Its Importance Jenny Rayner
Understanding the UCP600 Buddy 904Baker
Using Decision Analysis to Value 909R&D Projects Bert De Reyck
Using Financial Analysis to Evaluate 913Strategy David Sadtler
Value Creation—Perspectives and 916Implications John C. Groth
What Entrepreneurs and Small 921Business Owners Can Do toIncrease Their Chances of Successin the Global Economy Neuman F.Pollack
Why EVA Is the Best Measurement 925Tool for Creating ShareholderValue Erik Stern
• l P7Winning Commercial Tenders
Damian Merciar927
CHECKLISTSBalance Sheets and Cash FlowAssessing Cash Flow and Bank 934
Lending RequirementsBuilding a Forex Plan 935Dealing with Financial 936
IntermediariesDefining the Financial Manager's 937
RoleDeveloping a Contingency Funding 938
PlanEstimating Enterprise Value with 939
the Weighted Average Cost ofCapital
The Foreign Exchange Market: Its 940Structure and Function
Hedging Credit Risk—Case Studies 941and Strategies
Hedging Foreign Exchange Risk— 942Case Studies and Strategies
Hedging Interest Rate Risk—Case 943Study and Strategies
Hedging Liquidity Risk—Case Study _ 944and Strategies
How to Manage Your Credit Rating 945Identifying and Managing Exposure 946
to Interest and Exchange RateRisks
Identifying Weak Points in Your 947Liquidity
Insuring Against Financial Loss . 948Invoicing and Credit Control for 949
Small and Medium-SizedEnterprises
Key Components of an Optimal ^ 950Enterprise Resource PlanningSystem
Managing the Time Value of Money 951Managing Working Capital ; 952Managing Your Credit Risk \ 953Measuring Financial Health 954Measuring Liquidity 955Methods for Dealing with Inflation 956
RiskThe Objectives of Corporate 957
Planning and BudgetingPreparing a Budget 958Preparing a Cash Flow Forecast 959Setting Up a Dividend Policy 960Swaps, Options, and Futures: What 961
They Are and Their FunctionUnderstanding Activity-Based 962
CostingUnderstanding and Calculating the 963
Total Cost of RiskUnderstanding and Using Carry 964
TradesUnderstanding and Using Currency 965
SwapsUnderstanding and Using Inflation 966
SwapsUnderstanding and Using Interest 967
Rate SwapsUnderstanding and Using the Cash 968
Conversion CycleUnderstanding Asset-Liability 969
Management (Full Balance SheetApproach)
Understanding Capital Structure 970Theory: Modigliani and Miller
Understanding Key Financial Terms 971and Statements
Understanding the Balance Sheet 972Understanding the Cost of 973
Capitaland the Hurdle RateUnderstanding the Relationship 974
between the Discount Rate andRisk
Understanding the Weighted 975Average Cost of Capital (WACC)
Understanding Yield/Revenue 976Management
Financial MarketsBanks "Planning for Failure"— 977
Living Wills as Resolution andRecovery Plans
Basel II—Its Development and 978Aims
Calculating Your Total Economic 979Capital
Captive Insurance Companies: How 980to Reduce Your Costs
Catastrophe Bonds: What They Are 981and How They Function
Comparative and International 982Financial Regulation
Derivatives Markets: Their 983Structure and Function
The Interbank Market: Its Structure 984and Function
Key Islamic Banking 985Instrumentsand How They Work
Key Principles of Islamic Finance 986Merchant Banks: Their Structure 987
and FunctionRetail Banks: Their Structure and 988
FunctionThe Role of the Shariah Advisery 989
Board in Islamic FinanceStress Testing to Evaluate Insurance 990
CoverUnderstanding and Calculating 991
Probable Maximum Loss (PML)Understanding Financial Scenario 992
Analysis for Banking andInsurance Institutions ,
Understanding the Components of 993an Insurance Contract
Financial Regulation and ComplianceBalancing Hedging Objectives with 994
Accounting Rules(FAS 133)
The Chief Audit Executive's (CAE) 995Roles and Responsibilities
Choosing an External Auditor 996Creating a Comprehensive Audit 997
Committee Evaluation FormEstablishing a Framework for 998
Assessing RiskThe EU Regulatory Regime 999The HA Code of Ethics 1000Insolvency/Bankruptcy Regulations 1001
in Major RegionsInternational Financial 1002
Reporting Standards (IFRS):The Basics
Key Accounting Standards and 1003Organizations
Key Components of a Corporate Risk 1004Register
The Key Components of an 1005Audit Report
Middle East: Regulatory Structure 1006and Powers
MiFID—Its Development and Aims 1007Preparing and Executing an Internal 1008
Audit ReviewPreparing Financial Statements: 1009
Balance SheetsPreparing Financial Statements: 1010
Profit and Loss Accounts (P&Ls)Principles of Financial Services 1011
RegulationRegulatory and Capital Issues under 1012
Shariah LawSarbanes-Oxley: Its Development 1013
and AimsSolvency II: Its Development 1014
and AimsStress Testing and Scenario Analysis 1015
for Keeping Up with RegulationThe Ten Accounting Principles 1016Understanding Impairment 1017
Accounting: What It Is and WhenIt Is Used
Understanding Internal Audits 1018Understanding the Internal Capital 1019
Adequacy Assessment Process(ICAAP)
Understanding the Key Components 1020of GAAP: The Continuing ConcernConcept
United Kingdom: Regulatory 1021Structure and Powers
Using and Understanding Financial 1022Ratios for Analysis
What Is Forensic Auditing? 1023
Funding and InvestmentAnalysis Using Monte Carlo 1024
SimulationApplying the Gordon Growth Model 1025The Bond Market: Its Structure and 1026
FunctionCalculating a Company's Net Worth 1027Calculating Total Shareholder Return 1028Dealing with Venture Capital 1029
CompaniesThe Efficient Market 1030
HypothesisFinancial Intermediaries: 1031
Their Role and Relation toFinancial Markets
Franchising a Business 1032Fund of Hedge Funds: 1033
Understanding the Risks andReturns
Hedge Funds: Understanding 1034the Risks and Returns
How to Use Credit Rating Agencies 1035How to Use Receivables as Collateral 1036Investing in Employee Pension 1037
Plans: Understanding the Risksand Returns
Mean-Variance Optimization: 1038A Primer
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Measuring Gearing 1039Money Markets: Their Structure and 1040
FunctionObtaining an Equity Value 1041
Using the Weighted Average Costof Capital (WACC)
Options for Raising Finance 1042Overview of Loan Agreements 1043An Overview of Shariah-Compliant 1044
FundsAn Overview of Stockholders' 1045
AgreementsOverview of Tax Deeds 1046Raising Capital by Issuing 1047
BondsRaising Capital by Issuing 1048
SharesRaising Capital through Private and 1049
Public EquitySovereign Wealth Funds— 1050
Investment Strategies andObjectives
Sovereign Wealth Funds—Profiles of 1051the Top 10 Players
Steps for Obtaining Bank Financing 1053Stock Markets: Their Structure and 1054
FunctionStructured Investment Vehicles 1055Trading in Commodities: Why and 1056
HowTrading in Corporate Bonds: Why 1057
and HowTrading in Equities on Stock 1058
ExchangesTrading in Government Bonds: Why 1059
and HowUnderstanding and Using Interest 1060
Coverage RatiosUnderstanding and Using Leverage 1061
RatiosUnderstanding and Using the Repos 1062
MarketUnderstanding Capital Markets, 1063
Structure and FunctionUnderstanding Debt Cover 1064Understanding Fixed-Charge 1065
CoverageUnderstanding Portfolio Analysis 1066Understanding Price Volatility 1067Understanding Private Equity 1068
Strategies: An OverviewUsing Dividend Discount 1069
ModelsUsing Investment Funds 1070
(Unit and Investment Trusts)Using Mezzanine Financing 1071Using Multistage Dividend Discount 1072
ModelsUsing Shareholder Value Analysis 1073
Governance and EthicsThe Board's Role in Executive 1074
CompensationBusiness Ethics in Islamic Finance 1075Conflicting Interests: The Agency 1076
IssueCorporate Governance and Its 1077
InterpretationsCorporate Governance Practices in 1078
Private Equity-Owned Firms
Creating a Sustainable Development 1079Policy
Creating Executive Compensation 1080Denning Corporate Governance: Its 1081
Aims, Goals, and ResponsibilitiesDirectors' and Officers' Liability 1082
InsuranceDirectors' Duties: A Primer 1083Governance Practices in Family- 1084
Owned FirmsInvestors and the Capital Structure 1085Regulatory Responsibilities of 1086
Executive and NonexecutiveDirectors: An InternationalOverview
Requirements of the UK Combined 1087Code on Corporate Governance
The Responsibilities of Trustees 1088Selecting the Board and Evaluation 1089
ProcessSocial Return on Investment 1090Sound Business Judgment and 1091
Immunity from LiabilityThe Triple Bottom l i n e 1092Understanding Economic Efficiency 1093
Theory
Mergers and AcquisitionsAchieving Success in International 1094
AcquisitionsAcquiring a Company 1095Acquisition Accounting 1096M&A Regulations: A Global 1097
OverviewManagement Buyouts 1098Planning the Acquisition Process 1099Planning the Disposal Process 1100The Rationale for an Acquisition 1101Structuring M&A Deals and Tax 1102
PlanningUnderstanding Anti-Takeover 1103
StrategiesUsing IRR for M&A Financing 1104Using the Comparable Net 1105
Worth Method in Squeeze OutsUsing the Market-Value Method for 1106
Acquisitions
Operations and PerformanceApplying Cost—Benefit Analysis to 1107
Project AppraisalApplying Stress-Testing to Business 1108
Continuity ManagementApplying Stress-Testing to 1109
Operational Risk ExposureAppraising Investment 1110
OpportunitiesAssessing Business Performance 1111Assessing Economies of Scale in 1112
BusinessAssessing the Value of Outsourcing 1113
and OffshoringBasic Steps for Starting a Business 1114Building an Efficient Credit and 1115
Collection Accounts SystemBuilding an Electronic Invoicing 1116
SystemBusiness Process Reengineering 1117Calculating Return on Investment in 1118
Human Resources
Choosing and Using Business 1119Advisers
Choosing the Right Payment Policy 1120Commercial Aspects of licensing 1121Competition Law: Key Financial 1122
IssuesCorporate Insurance Cover: A 1123
PrimerCosting a New Project 1124Creating a Risk Register 1125Distribution Agreements 1126Efficient Invoicing Procedures 1127Ensuring Effective Financial Control 1128Evaluating Projects and Programs 1129How to Optimize Stock Control 1130Identifying Your Continuity Needs 1131Insuring Against Business 1132
InterruptionIntellectual Property—Copyright 1133Intellectual Property—Patents—An 1134
International OverviewIntellectual Property—Registered 1135
Designs and TrademarksInternational Comparisons of 1136
Company LawInventory—How to Control It 1137
EffectivelyIslamic Commercial Law 1138Islamic Law of Contracts 1139Managing and Auditing the Risk of 1140
Business InterruptionManaging Bankruptcy and 1141
InsolvencyManaging External Stakeholders 1142Nonperformance and Breach of 1143
ContractPerforming a Skills Gap Analysis 1144Performing Total Cost of Ownership 1145
AnalysisPersonal Guarantees and the 1146
Potential Consequences of GivingThem
Practical Purchasing Procedures — 1147Practical Techniques for 1148
Commercial MediationThe Principles of Litigation 1149Setting Up a Key Risk Indicator 1150
(KRI) SystemStructuring, Negotiating, and 1151
Drafting Agency AgreementsStructuring and Negotiating Joint 1152
VenturesUnderstanding and Calculating 1153
RORAC, RAROC, and RARORACUnderstanding Continuity Insurance 1154Understanding Crisis Management 1155Understanding Decision-Tree 1156
AnalysisUnderstanding Key Performance 1157
IndicatorsUnderstanding Pareto's Law 1158Understanding Real Options 1159Understanding Root Cause Analysis 1160
in the Business EnvironmentUnderstanding Strategy Maps 1161What Is Benchmarking? 1162
CALCULATIONS AND RATIOSAccounts Payable Turnover Ratio 1166Accounts Receivable Turnover 1166
Accrual Rate 1167Acid-Test Ratio 1167Activity-Based Costing 1168Alpha and Beta Values of a Security 1170Amortization 1171Annual Percentage Rate 1172Asset Turnover 1172Asset Utilization 1173Basis Point Value U74Binomial Distribution 1174Bond Yield 1175Book Value . 1176Borrowing Costs and Capitalization 1177
Payout Ratio 1218Portfolio Analysis: Duration, 1219
Convexity, andlmmunizationPrice/Earnings Ratio 1220Price Elasticity 1221Price/Sales Ratio 1221Quantitative Methods 1222Rate of Return 1223Reading an Annual Report 1223Reserve Ratio 1225Residual Value 1226Return on Assets 1226Return on Investment 1227
Break-Even AnalysisCapital Asset Pricing ModelCapital ExpenditureCapitalization RatiosCentral l imit TheoremContribution MarginConversion Price ,Conversion RatioConvertible Preferred StockCost of Goods SoldCovarianceCreating a Balance SheetCreating a Cash Flow StatementCreating a Profit and Loss (P&L)
AccountCreditor and Debtor DaysCurrent Price of a BondCurrent RatioDays Sales OutstandingDebt/Capital RatioDebt/Equity RatioDenning AssetsDepreciationDiscounted Cash FlowDistinguishing between a Capital
and an Operating LeaseDividend YieldEarnings at RiskEarnings per ShareEBITDAEconomic Value AddedEfficiency and Operating RatiosElasticityEnterprise ValueExchange Rate RiskExpected Rate of ReturnFair Value CalculationsFixed-Deposit Compound InterestForward Interest RatesFuture ValueFuture Value of an AnnuityGoodwill and PatentsGross Profit Margin RatioInterest CoverageInternal Rate of Returnliquidity Ratio AnalysisManagement AccountsMarginal CostMarginal Rate of SubstitutionMarket/Book RatioNet Added Value (NAV) and
Adjusted NAVNet Present ValueNominal and Real Interest RatesOption PricingPayback Period
11781179
118011811181118211831183118411861186118711881189
11891190119111911192
119311931194
11951196
11971198
\ 11981199
120012001201120212021204120512051206120612071208120812091210121012111212121312141214
1215121612171217
Return on SalesReturn on Stockholders' EquityRisk-Adjusted Rate of ReturnScenario AnalysisSharpe RatioStatistical Process Control MethodsStochastic ModelingStress TestingSwap ValuationTerm Structure of Interest RatesTick ValueTime Value of MoneyTotal ReturnTreynor RatioValue at RiskWeighted Average Cost of CapitalWorking CapitalWorking Capital CycleWorking Capital ProductivityYieldZ-Score
THINKERS AND LEADERSPrince Al-Walid bin TalalLouis BachelierGary BeckerPeter L. BernsteinFischer BlackGary BrinsonWarren BuffettAndrew CarnegieRonald Harry CoaseJohn C. CoxHerman DalyJoseph de la VegaW. Edwards DemingMarc FaberEugene FamaIrving FisherJohn Kenneth GalbraithNicholas Georgescu-RoegenLouis GerstnerBenjamin GrahamAlan GreenspanFriedrich HayekDaniel KahnemanJohn Maynard KeynesEdwin LefevreBurton MalkielHarry MarkowitzRobert MertonMerton MillerHyman Philip MinskyFranco ModiglianiJ. P. MorganNicholas Negroponte
122812281229123012311231123212331234123412351236
123712371238123812391240124112411242
1246124712481249125012511252
1253125412551256
12571258
12591260126112621263126412651266126712681269127012711272127312741275127612771278
Paul H. O'Neill 1279Michael Eugene Porter 1280C. K. Prahalad 1281David Ricardo 1282John D. Rockefeller 1283Stephen A. Ross 1284Nouriel Roubini 1285Paul Samuelson 1286Jean-Baptiste Say 1287Myron Scholes 1288Ernst Friedrich Schumacher 1289Joseph Schumpeter 1290William F. Sharpe 1291Jeremy Siegel 1292Adam Smith 1293George Soros 1294Joseph Stiglitz 1295Richard Thaler , 1296James Tobin 1297Amos Tversky 1298Arnold, Lord Weinstock 1299Jack Welch 1300Muhammad Yunus 1301Robert Zoellick 1302
FINANCE LIBRARYAbsolute Returns: The Risk and 1308
Opportunities of Hedge FundInvesting Alexander M. Ineichen(2003)
Accounting and Finance for Non- 1309Specialists Peter Atrill and EddieMcLaney (6th ed 2008, originally 1995)
Advances hi Behavioral Finance 1310Richard H. Thaler (ed) (1993)
Against the Gods: The Remarkable 1311Story of Risk Peter L. Bernstein(1996)
The Age of Turbulence: Adventures 1312in a New World Alan Greenspan(2007)
The Alchemy of Finance: Reading 1313the Mind of the Market GeorgeSoros (1987)
Animal Spirits: How Human 1314Psychology Drives the Economy,and Why It Matters for GlobalCapitalism George A. Akerlof andRobert J. Shiller (2009)
The Ascent of Money: A Financial 1315History of the World Niall Ferguson(2009)
Balanced Scorecard: Translating 1316Strategy into Action Robert S.Kaplan and David P. Norton (1996)
Banker to the Poor: The Story of the 1317Grameen Bank Muhammad Yunusand Alan Jolis (1998)
Barbarians at the Gate: The Fall of 1318RJR Nabisco Bryan Burrough andJohn Helyar (1990)
The Basel Handbook: A Guide for 1319Financial Practitioners Michael K.Ong (ed) (2nd ed 2006, originally 2004)
A Behavioral Theory of the Firm 1320Richard M. Cyert and James G. March(2nd ed 1992, originally 1963)
Being Digital Nicholas Negroponte 1321(1995)
XI
noII
qgn
• • — i , *
•
Q a-z
i1o
y
a
The Black Swan: The Impact of the 1322Highly Improbable Nassim NicholasTaleb (2007)
Blink: The Power of Thinking 1323without Thinking Malcolm Gladwell(2005)
Blue Ocean Strategy: How to Create 1324Uncontested Market Space andMake the Competition IrrelevantW. Chan Kim and Renee Mauborgne(2005)
The Bottom Billion: Why the Poorest 1325Countries Are Failing and WhatCan Be Done About It Paul Collier(2007)
The Box: How the Shipping 1326Container Made the WorldSmaller and the World EconomyBigger Marc Levinson (2006)
Cashflow Reengineering: How to 1327Optimize the Cashflow Timelineand Improve Financial EfficiencyJames Sagner (1997)
Common Stocks and Uncommon 1328Profits Philip A. Fisher (1958)
Competing for the Future Gary Hamel 1329
and C. K. Prahalad (1994)The Competitive Advantage of 1330
Nations Michael E. Porter (1990)Competitive Strategy: Techniques 1331
for Analyzing Industries andCompetitors Michael E. Porter (1980)
Confusion de Confusiones Joseph de 1332la Vega (1688)
Conquer the Crash: You Can Survive 1333and Prosper in a DeflationaryDepression Robert R. Prechter, Jr(2nd ed 2009, originally 2003)
Corporate Financial Management 1334Glen Arnold (4th ed 2008, originally1998)
Corporate-Level Strategy: Creating 1335Value in the MultibusinessCompany Michael Goold, AndrewCampbell, and Marcus Alexander (1994)
Corporate Strategy: An Analytic 1336Approach to Business Policy forGrowth and Expansion H. IgorAnsoff (1965)
Cost and Effect: Using Integrated 1337Cost Systems to Drive Profitabilityand Performance Robert S. Kaplanand Robin Cooper (1997)
Damodaran on Valuation: Security 1338Analysis for Investment andCorporate Finance AswathDamodaran (2nd ed 2006, originally
1994)A Demon of Our Own Design Richard 1339
Bookstaber (2007)The Essence of Financial 1340
Management David R. Myddelton
(1995)The EVA Challenge: Implementing 1341
Value-Added Change in anOrganization Joel M. Stern and JohnS. Shiely (2001)
Extraordinary Popular Delusions 1342and the Madness of Crowds CharlesMackay (1841)
A Farewell to Alms: A Brief 1343Economic History of the WorldGregory Clark (2007)
FIASCO: The Inside Story of a Wall 1344Street Trader Frank Partnoy (1997)
Finance Zvi Bodie and Robert C. Merton 1345(2000)
The Finance Manual for 1346Non-Financial Managers:The Power to Make ConfidentFinancial Decisions Paul McKoenand Leo Gough (1996)
Financial Accounting and Reporting 1347Barry Elliott and Jamie Elliott (13th ed2009, originally 1993)
Financial Control for Non-Financial 1348Managers David Irwin (1995)
Financial Management Jae K. Shim 1349and Joel G. Siegel (3rd ed 2009,originally 1986)
Financial Management: An 1350Introduction Jim McMenamin (1999)
Financial Management for the Small 1351Business Colin Barrow (6th ed 2006,originally 1984)
Financial Strategy: Adding 1352Stakeholder Value JanetteRutterford (ed) (1998)
The Financial Times 1353Handbook of FinancialManagement Steve Robinson (1995)
Fooled by Randomness: The Hidden 1354Role of Chance in Life and in theMarkets Nassim Nicholas Taleb (2nded 2005, originally 2001)
Foundations of Multinational 1355Financial Management Alan C.Shapiro and Atulya Sarin (6th ed 2008,originally 1991)
Frank Wood's Business Accounting, 1356Volumes 1 and 2 Frank Wood andAlan Sangster(11th ed 2008, originally 1967)
Freakonomics: A Rogue Economist 1357Explores the Hidden Side ofEverything Steven D. Levitt andStephen J. Dubner (2005)
Freefall: Free Markets and 1358the Sinking of the Global EconomyJoseph Stiglitz (2010)
Futures, Options, and Swaps Robert 1359W. Kolb and James A. Overdahl (5th ed2007, originally 1994)
The Global Financial System: A 1360Functional Perspective Dwight B.Crane, Kenneth A. Froot, Scott P.Mason, Andre F. Perold, Robert C.Merton, Zvi Bodie, Erik R. Sirri, andPeter Tufano (1995)
Globalization and Its Discontents 1361Joseph Stiglitz (2002)
Good Value: Reflections on Money, 1362Morality, and an Uncertain WorldStephen Green (2009)
Governance and Risk: An Analytical 1363Handbook for Investors,Managers, Directors, andStakeholders George Dallas (ed)(2004)
The Great Crash, 1929 John Kenneth 1364Galbraith (1955)
The Gridlock Economy: 1365How Too Much OwnershipWrecks Markets, StopsInnovation, and Costs LivesMichael Heller (2008)
How the Stock Market 1366Works: A Beginner'sGuide to Investment Michael Becketand Yvette Essen(3rd ed 2009, originally 2002)
How to Be Rich J. Paul Getty (1965) 1367Inefficient Markets: An Introduction 1368
to Behavioral Finance AndreiShleifer (2000)
Information Rules: A Strategic 1369Guide to the Network EconomyCarl Shapiro and Hal R. Varian (1999)
Innovation Corrupted: The Origins 1370and Legacy of Enron's CollapseMalcolm S. Salter (2008)
Intellectual Capital: The New Wealth 1371of Organizations Thomas A. Stewart
(1997)The Intelligent Investor 1372
Benjamin Graham (1949)International Financial 1373
Management Cheol S. Eun and BruceG. Resnick (5th ed 2008, originally1998)
Introduction to Accounting Pru 1374Marriott, J. R. Edwards, and H. J.Mellett (3rd ed 2002, originally 1989)
An Introduction to Islamic Finance 1375Theory and Practice Zamir Iqbal andAbbas Mirakhor (2007)
Inventing Money: The Story of Long- 1376Term Capital Management and theLegends Behind It Nicholas Dunbar(2000)
Investments Zvi Bodie, Alex Kane, and 1377Alan J. Marcus (8th ed 2008, originally
1989)IOU: Why Everyone Owes Everyone- 1378
and No One Can Pay (alsopublished as Whoops) JohnLanchester (2010)
Irrational Exuberance Robert J. 1379Shiller (2nd ed 2005, originally 2000)
Juran on Planning for Quality Joseph 1380M. Juran (1988)
Liar's Poker: Rising Through the 1381Wreckage on Wall Street MichaelLewis (1989)
The Living Company: Habits for 1382Survival in a Turbulent BusinessEnvironment Arie de Geus (1997)
Lords of Finance: The Bankers Who 1383Broke the World Liaquat Ahamed(2009)
Macroeconomics N. Gregory Mankiw 1384(7th ed 2010, originally 1992)
Management Accounts: How to Use 1385Them to Control Your BusinessTony Skone (1995)
Managing Across Borders: The 1386Transnational Solution ChristopherA. Bartlett and Sumantra Ghoshal (2nded 1998, originally 1989)
Managing Financial Resources Mick 1387Broadbent and John Cullen (3rd ed2003, originally 1993)
Market Wizards: Interviews with 1388Top Traders Jack D. Schwager (1989)
Mastering Financial Management: 1389Demystify Finance and TransformYour Financial Skills ofManagement Stephen Brookson(1998)
Mastering Risk, Volume 1: Concepts 1390James Pickford (ed) (2000)
The (Mis)behavior of Markets Benolt 1391Mandelbrot and Richard L. Hudson(2004)
The Money Game Adam Smith (1976) 1392Monkey Business: Swinging 1393
Through the Wall Street JungleJohn Rolfe and Peter Troob (2000)
Multinational Business Finance 1394David K. Eiteman, Arthur I. Stonehill,and Michael H. Moffett (12th ed 2009,originally 1973)
My life as a Quant Emanuel Derman 1395(2004)
A Non-Random Walk Down Wall 1396Street Andrew W. Lo and A. CraigMacKinlay (1999)
On the Economy of Machinery and 1397Manufactures Charles Babbage(1832)
One Up on Wall Street: How to Use 1398What You Already Know to MakeMoney hi the Market Peter Lynch(1989)
Option Volatility and Pricing: 1399Advanced Trading Strategies andTechniques Sheldon Natenberg(1994)
Options, Futures, and Other 1400Derivatives John C. Hull (7th ed2008, originally 1989)
The Portable MBA in Finance 1401and Accounting Theodore Grossmanand John Leslie Livingstone (eds) (4thed 2009, originally 1992) .
Portfolio Selection: Efficient 1402Diversification of InvestmentsHarry M. Markowitz (2nd ed 1991,originally 1959)
Portfolio Theory and Capital 1403Markets William Sharpe (1970).
Principles of Corporate 1404Finance Richard A. Brealey, Stewart C.Myers, and Franklin Allen (9th ed 2008,originally 1983)
A Random Walk Down Wall Street: 1405The Time-Tested Strategy forSuccessful Investing Burton G.Malkiel (gth ed 2007, originally 1973)
Reengmeering the Corporation: A 1406Manifesto for Business RevolutionMichael Hammer and James Champy(1993)
Reminiscences of a Stock Operator 1407Edwin Lefevre (1923)
The Rise and Fall of Strategic 1408Planning Henry Mintzberg (1994)
The Six Sigma Way: How GE, 1409Motorola and Other TopCompanies are Honing TheirPerformance Peter S. Pande, RobertNeuman, and Roland R. Cavanagh(2000)
The Smartest Guys in the Room: The 1410Amazing Rise and Scandalous Fallof Enron Bethany McLean and PeterElkind (2003)
The Snowball: Warren Buffett and 1411the Business of Life Alice Schroeder(2008)
Stocks for the Long Run: The 1412Definitive Guide to FinancialMarket Returns and Long-TermInvestment Strategies Jeremy J.Siegel (4th ed 2008, originally 1994)
Take On the Street: What Wall Street 1413and Corporate America Don'tWant You to Know Arthur Levitt(2002)
Taxes and Business Strategy: A 1414Planning Approach Myron S.Scholes, Mark A. Wolfson, Merle M.Erickson, Edward L. Maydew, andTerrence J. Shevlin (4th ed 2008,originally 1992)
Technical Analysis of the Financial 1415Markets: A Comprehensive Guideto Trading Methods andApplications John J. Murphy (1999)
Test Your Financial Awareness John 1416Hodgson (2000)
The Theory of Finance Eugene F. Fama 1417and Merton H. Miller (1972) .
The Theory of Social and Economic 1418Organization Max Weber (1924)
This Time Is Different: Eight 1419Centuries of Financial FollyCarmen M. Reinhart and Kenneth S.Rogoff (2009)
The Tipping Point: How Little 1420Things Can Make a Big DifferenceMalcolm Gladwell (2000)
Traders, Guns, and Money: Knowns 1421and Unknowns in the DazzlingWorld of Derivatives Satyajit Das(2006)
The Undercover Economist Tim 1422Harford (2006)
Valuation: Measuring and Managing 1423the Value of Companies Tim Roller,Marc Goedhart, and David Wessels (5thed 2010, originally 1990)
Value at Risk Philippe Jorion (3rd ed 14242006, originally 1997)
Value Investing: Tools and 1425Techniques for IntelligentInvestment James Montier (2009)
The Warren Buffett Way Robert G. 1426Hagstrom (2nd ed 2004, originally1994)
The Wealth of Nations 1427Adam Smith (1776)
What Went Wrong at Enron: 1428Everyone's Guide to the LargestBankruptcy in US History Peter C.Fusaro and Ross M. Miller (2002)
When Genius Failed: The Rise and 1429Fall of Long-Term CapitalManagement Roger Lowenstein(2001)
When Markets Collide: Investment 1430Strategies for the Age of GlobalEconomic Change Mohamed A. El-Erian (2008)
Why Smart People Make Big Money 1431Mistakes and How to CorrectThem Gary Belsky and ThomasGilovich (1999)
Wildnomics: How Mass 1432Collaboration Changes EverythingDon Tapscott and Anthony D. Williams(2006)
XIII
COUNTRY AND SECTORCountry ProfilesAlgeriaAngolaAntigua and BarbudaArgentinaAustraliaAustriaThe BahamasBahrainBangladeshBarbadosBelgiumBermudaBoliviaBotswanaBrazilBritish Virgin IslandsBruneiBulgariaCanadaCayman IslandsChannel IslandsChileChinaColombiaCook IslandsCroatiaCyprusCzech RepublicDenmarkDominicaEcuadorEgyptEstoniaFinlandFranceGermanyGhanaGibraltarGreeceHong KongHungaryIcelandIndiaIndonesiaIranIraqIrelandIsle of ManIsrael and the Palestinian
TerritoriesItalyJapanJordanKuwaitLatviaLebanonLibyaLiechtenstein
PROFILES
143714381440144114421444144514461448144914511452145314551456
1458
145914611462
1463146514661468146914701472
1473' 1474
1476
1477147914801481
14831484i486
1487148914901491
149314941496
149714991500150115031504
15051507150815101511151215141515
©
8
a-z
LithuaniaLuxembourgMacauMalaysiaMaltaMauritiusMexicoMonacoMontserratMoroccoNauruThe NetherlandsNew ZealandNigeriaNorwayPakistanPanamaPeruThe PhilippinesPolandPortugalQatarRomaniaRussiaSaudi ArabiaSeychellesSingaporeSlovak RepublicSloveniaSouth AfricaSouth KoreaSpainSt Kitts and NevisSwedenSwitzerlandSyriaTaiwanThailandTunisiaTurkeyTurks and Caicos IslandsUkraineUnited Arab EmiratesUnited KingdomUnited States of AmericaVenezuela
1516151715191520152115221524152515261528152915301532153315341536153715381540154115431544154515471549155O15511553155415561558155915611562156415651567156815701571157315741576157715791580
SteelTelecomsTourism and HotelsTransport and LogisticsWater
16211623162516271628
y
a
Sector ProfilesAutomobiles 1583Aviation 1584Banking and Financial Services 1586Chemicals 1588Construction and Building Materials 1590Defense 1592E-Commerce 1593Electronics 1595Energy 1597Engineering 1599Food and Agribusiness 1601Healthcare and Pharmaceuticals 1604Information Technology 1605Insurance 1607Media 1609Mining 1611Oil and Gas 1613Professional Services 1614Real Estate 1616Retail 1618Shipping 1620
FINANCE INFORMATION SOURCESAccounting 1634Acquisitions, Takeovers, and 1638
Mergers. .Analytical Techniques and Statistics 1641Asset and liability Management 1643Auditing and Management 1645
AuditBankruptcy and Business 1647
FailureBehavioral Finance 1650Benchmarking 1652Bonds/Fixed Income . 1654Budgeting 1&57Bus ines s Appraisal and 1660
Performance MeasurementBusiness Ethics and Codes of 1664
PracticeBusiness Plans and Planning . 1668Business Process Reengineering 1670Capital Markets and Stock Markets 1672Central BankingContingency, Crisis, Disaster
ManagementCorporate CultureCorporate InsuranceCorporate StrategyCorporate ValuationCredit and Debt ManagementCurrency and Foreign ExchangeDerivatives and Quantitative
FinanceEconometricsEmerging Market FinanceEnergy and Commodity FinanceFinancial EconomicsFinancial ModelingForecasting and Scenario PlanningHedge Funds, Fund Management,
and Alternative InvestmentsIntellectual PropertyInternational FinanceInternational Management, Cross-
Cultural ManagementInvestmentIslamic FinanceKnowledge ManagementLeadershipManagement BuyoutsManagement StylesManagement TheoristsMarket Research and
Competitor IntelligenceMathematical FinanceMoney LaunderingMortgage FinanceOperations ManagementOutsourcingPension Fund FinancePricingPrivate Equity
1&751678
168116841690
1694169817001702
1706
17091712
171517191722
1725
1728
17311734
173717431748
175317591761
17631765
17681771
177417781781
17831787
1789
Process Control and Statistical 1793Process Control
Project Finance 1795Purchasing and Supply Chain 1798
ManagementRetail Banking 1801Risk Management 1805Selling and Salesmanship 1809Small and Growing Businesses 1813Social Responsibility of " 1819
ManagementStructured Finance 1822Technical Analysis 1825Trading 1828Transport Finance 1831Venture Capital 1834Wealth Management 1837
QUOTATIONSAbility 1844Accounting 1844Accuracy 1844Achievement 1844Action 1844Adversity 1845Advertising 1845Ambition 1846Attitude 1846Banking 1846Blame 1848Boasting 1848Boldness 1849Boom and Bust 1849Brands 1852Budgeting 1852Bureaucracy 1852Business Ethics 1852Capitalism ' 1854Capitalism versus Socialism 1854Careers 1855Challenge 1855Change - 1855Character 1856Choice 1857Civilization 1857Common Sense 1858Communication 1858Competition 1858Computers 1859Confidence and Self-Belief 1859Conscience 1859Consultants and Advisers i860Consumption i860Contracts 1861Cooperation 1861Corporate Culture 1861Corporate Responsibility 1862Corruption and Scandal 1862Creativity 1863Criticism 1864Customers 1864Debt 1865Decisions 1865Delegating 1865Details 1866Determination 1866Discrimination 1866Doing Business in Africa 1866Doing Business in Asia-Pacific 1867
Doing Business in EuropeDoing Business in IndiaDoing Business in Latin AmericaDoing Business in North AmericaE-CommerceEconomicsEducationEfficiencyEmployeesEmployersEnthusiasmEntrepreneursEnvironmentExcellenceExecutivesExpectationsExperienceFailureFearFinanceFocusForecastingGetting StartedGlobalizationGoals and ObjectivesGovernmentGreedGrowthHiring and FiringHonestyIdeasImageImaginationIndependenceIndustrial RelationsIndustryInformationInnovationIntelligenceInvestmentJobs
18671867186818681868186918701870187018711871187118721872187218721873187318741874187718771877187818781879187918801880188018801881188118811882188218821883188318841884
JudgementsKnowledgeLaw and LawyersLeadershipLearningListeningLosingLoyaltyLuckManagementMarketingMediaMeetingsMergers and DemergersMistakesMoneyMotivationNegotiationNepotismOffice PoliticsOpinionsOpportunityOrderOrganizationsOriginalityPeople and RelationshipsPerfectionPerformancePersistencePersonalitiesPhilanthropyPlanningPowerPraise and RecognitionPrinciplesPrioritiesProblems and ObstaclesProcrastinationProductivityProductsProfits
188518851885188518861887188718871888188818891889189018901891189118921892
18931893189318931894189418951895189518961896189618971897189718981899189918991900190019011901
ProgressPublicityQualityReputationResearchResponsibilityRisk TakingScienceSellingServiceSinceritySocialism and CommunismSocietySpeechesStatisticsStrategyStressSuccessTalentTargetsTaxesTeamsTechnologyTime ManagementTravelTrustValue\Visionx
WagesWealthWinners and WinningWomen in BusinessWork and Employment
190119021902190219021903190a19041904190419051905190519051906190619071907190819081908190819091910191019101910191019111911191219121913
XV
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Author Index
DICTIONARY
IndexCredits
1915
1931
21392161
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