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Finance - Concordia University Libraries Recent Acquisitions

Titles in the call number range HG (Finance) that were added to the Concordia University Libraries collection in the last 60 days.


  • Cost management for nonprofit and voluntary organisations / Zahirul Hoque and Tarek Rana
    HG 4027.65 H67 2020eb

    In recent years, nonprofit and voluntary organisations have faced challenges and unanticipated pressures as a result of increased competition for funding, technological advancements, the need to comply with government regulations, and increased social and community expectations regarding greater accountability and transparency.

    Cost accounting and cost management tools are considered a means to provide adequate and quality information for management control for all sorts of organisations, including nonprofits. Using empirical evidence from the Australian nonprofit sector, this research monograph offers insight into how nonprofit and voluntary organisations control and manage the costs of their operation and projects through cost accounting and cost management tools.

    The book will be of benefit to a range of stakeholders in the sector, including financial and management accountants, accounting professional bodies, the government, policymakers, academics, consultants, and operational managers.


  • Financing development in Latin America / edited by Jean-Claude Garcia-Zamor, Stewart E. Sutin
    HG 185 L3F56

  • Gestion financière des PME : théories et pratiques / Josée St-Pierre
    HG 4027.7 S7 2017eb

  • The enforcers : how little-known trade reporters exposed the Keating five and advanced business journalism / Rob Wells ; with a foreword by David Cay Johnston
    HG 2626 I78W35 2019

  • Intelligent asset management / Frank Xing, Erik Cambria, Roy Welsch
    HG 4529.5 X564 2019eb

  • Financial Accounting An IFRS Perspective in Romania
    HF5636

  • Hyperinflation in Zimbabwe background, impact, and policy / Tara McIndoe-Calder, Tara Bedi, Rogelio Mercado
    HG1352

  • The rise of green finance in Europe : opportunities and challenges for issuers, investors and marketplaces / Marco Migliorelli, Philippe Dessertine, editors
    HG 186 A2R57 2019eb

  • FinTech and data privacy in Germany : an empirical analysis with policy recommendations / Gregor Dorfleitner, Lars Hornuf
    HG186.G3

  • Banking and financial markets : how banks and financial technology are reshaping financial markets / Andrada Bilan, Hans Degryse, Kuchulain O'Flynn, Steven Ongena
    HG 4521 B55 2019eb

  • Introduction to Takaful : theory and practice / Adnan Malik, Karim Ullah
    HG8076

  • Rutgers studies in accounting analytics : audit analytics in the financial industry / edited by Jun Dai, Miklos A. Vasarhelyi, and Ann F. Medinets
    HG 173 R88 2019eb
    In Audit Analytics in the Financial Industry , editors Jun Dai, Miklos A. Vasarhelyi and Ann F. Medinets bring together a cast of expert contributors to explore ways to integrate Audit Analytics techniques into existing audit programs for the financial industry.
    Separated into six parts, the contributors take a variety of approaches to this exploration. In Part One, the contributors present two articles illustrating the process of applying Audit Analytics to solving audit problems. Part Two contains four studies that use various Audit Analytics techniques to discover fraud risks and potential frauds in the credit card sector. In Part Three, the chapter focus on the insurance sector and show the application of clustering techniques in auditing. Part Four includes two chapters on how to employ Audit Analytics in the transitory system for fraud/anomaly detection. Finally, Parts Five and Six illustrate the use of Audit Analytics to assess risk in the lawsuit and payment processes.
    For students, researchers, and professionals in the accounting sector, this is an unmissable read exploring the latest research in Audit Analytics.

  • The impacts of monetary policy in the 21st century : perspectives from emerging economies / edited by Ramesh Chandra Das
    HG 1496 I47 2019eb
    Since the turn of the 21st century, the global economy has faced several significant financial crises such as the monetary mismanagements of the EURO Zone countries struggling with sovereign debt problems, the Global Financial Crisis between 2007 and 2009 preceded by the housing market collapse, and the Quantitative Easing Policies used by the US Central Bank. The Impacts of Monetary Policy in the 21st Century: Perspectives from Emerging Economies explores and analyses how monetary authorities have handled and continue to confront these issues of economic crises at both a global and country-specific level.
    The book establishes the effect of monetary policies upon economic indicators during the 21st Century at the global, regional, group or country levels, with an emphasis upon emerging economies such as India. In looking at the effects of globalization, demonetization and inflation targeting through the use of panel regression models, unit root tests and case studies, the book provides a unique coverage of quantitative financial economics.
    The Impacts of Monetary Policy in the 21st Century is an illuminating book for postgraduate-level students, researchers and academics in the fields of economics and finance to help develop their understanding of the severe impact of monetary policies upon global economic systems and emerging economies.

  • Millennial money makeover : escape debt, save for your future, and live the rich life now / Conor Richardson
    HG 179 R5165 2019eb
    Over half of Millennials are freaked out by their finances. Luckily, with Millennial Money Makeover readers now have a guide to help them navigate the financial issues of their time. Certified public accountant Conor Richardson offers a refreshingly helpful and elegantly designed program to tackle essential money matters.

    Millennial Money Makeover takes readers on a six-step journey to transform their financial life and set them up for lifelong success. From learning how to pay off student loans insanely fast to optimizing a financial ecosystem, Millennial Money Makeover teaches readers how to reclaim their financial future and jump-start the path to the rich life.

    Built for readers in their twenties and thirties, this book gives Millennials a proven playbook. Learn new hacks like how using robo-advisors can increase your returns and how leveraging delayed gratification when buying your first home can save you thousands. Whether you are planning a passion budget, figuring out how to finally purchase that big-ticket item, or thinking about taking your first dip into investing, Conor will show you the way.


  • Bank 4.0 : banking everywhere, never at a bank / Brett King
    HG1616.C87

    The future of banking is already here -- are you ready?

    Bank 4.0 explores the radical transformation already taking place in banking, and follows it to its logical conclusion. What will banking look like in 30 years? 50 years? The world's best banks have been forced to adapt to changing consumer behaviors; regulators are rethinking friction, licensing and regulation; Fintech start-ups and tech giants are redefining how banking fits in the daily life of consumers. To survive, banks are having to develop new capabilities, new jobs and new skills. The future of banking is not just about new thinking around value stores, payment and credit utility -- it's embedded in voice-based smart assistants like Alexa and Siri and soon smart glasses which will guide you on daily spending and money decisions. The coming Bank 4.0 era is one where either your bank is embedded in your world via tech, or it no longer exists.

    In this final volume in Brett King's BANK series, we explore the future of banks amidst the evolution of technology and discover a revolution already at work. From re-engineered banking systems, to selfie-pay and self-driving cars, Bank 4.0 proves that we're not on Wall Street anymore. Bank 4.0 will help you:

    Understand the historical precedents that flag a fundamental rethinking in banking Discover low-friction, technology experiences that undermine the products we sell today Think through the evolution of identity, value and assets as cash and cards become obsolete Learn how Fintech and tech "disruptors" are using behaviour, psychology and technology to reshape the economics of banking Examine the ways in which blockchain, A.I., augmented reality and other leading-edge tech are the real building blocks of the future of banking systems

    If you look at individual technologies or startups disrupting the space, you might miss the biggest signposts to the future and you might also miss that most of we've learned about banking the last 700 years just isn't useful.

    When the biggest bank in the world isn't any of the names you'd expect, when branch networks are a burden not an asset, and when advice is the domain of Artificial Intelligence, we may very well have to start from scratch. Bank 4.0 takes you to a world where banking will be instant, smart and ubiquitous, and where you'll have to adapt faster than ever before just to survive. Welcome to the future.


  • GARCH models : structure, statistical inference and financial applications / Christian Francq, Jean-Michel Zakoian
    HG106

    Provides a comprehensive and updated study of GARCH models and their applications in finance, covering new developments in the discipline

    This book provides a comprehensive and systematic approach to understanding GARCH time series models and their applications whilst presenting the most advanced results concerning the theory and practical aspects of GARCH. The probability structure of standard GARCH models is studied in detail as well as statistical inference such as identification, estimation, and tests. The book also provides new coverage of several extensions such as multivariate models, looks at financial applications, and explores the very validation of the models used.

    GARCH Models: Structure, Statistical Inference and Financial Applications, 2nd Edition features a new chapter on Parameter-Driven Volatility Models, which covers Stochastic Volatility Models and Markov Switching Volatility Models. A second new chapter titled Alternative Models for the Conditional Variance contains a section on Stochastic Recurrence Equations and additional material on EGARCH, Log-GARCH, GAS, MIDAS, and intraday volatility models, among others. The book is also updated with a more complete discussion of multivariate GARCH; a new section on Cholesky GARCH; a larger emphasis on the inference of multivariate GARCH models; a new set of corrected problems available onli≠ and an up-to-date list of references.

    Features up-to-date coverage of the current research in the probability, statistics, and econometric theory of GARCH models Covers significant developments in the field, especially in multivariate models Contains completely renewed chapters with new topics and results Handles both theoretical and applied aspects Applies to researchers in different fields (time series, econometrics, finance) Includes numerous illustrations and applications to real financial series Presents a large collection of exercises with corrections Supplemented by a supporting website featuring R codes, Fortran programs, data sets and Problems with corrections

    GARCH Models, 2nd Edition is an authoritative, state-of-the-art reference that is ideal for graduate students, researchers, and practitioners in business and finance seeking to broaden their skills of understanding of econometric time series models.


  • Mapping the risks and risk management practices in Islamic banking / Wael Kamal Eid, Mehmet Asutay
    HG3368.A6
    Deep, insightful analysis of controversial risk managementissues in Islamic banking

    Mapping the Risks And Risk Management Practices In IslamicBanking is a comprehensive analysis of the current state ofrisk management practices within the Islamic banking industry, withrecommendations for policy makers, bankers, and industrystakeholders. Going beyond the academic, this book presents theopinions and perceptions of industry financiers and bankers,alongside primary information and data collected by Islamic financeprofessionals to deconstruct and analyze the sector's current riskmanagement practices. You'll get up to date on the latest attitudesand trends, and delve into the current issues surrounding riskmanagement in Islamic banks. With a focus on practicalapplications, this authoritative guide discusses the unique risksfacing Islamic banks, from the perspective of a wide range ofpractitioners.

    Risk management is one of the biggest, most controversial issuesin Islamic finance, yet it remains under-researched. Manyuncertainties exist for which the answers are still unclear, yetwill play a large role in shaping the industry's future. This bookdigs deep into current ideas and practices to discover what's beingdone, what needs to be done, and what needs to stop happening tokeep the future of Islamic finance strong.

    Explore both Islamic and traditional attitudes toward risk Examine current Islamic risk management practices Understand the latest industry issues and trends Consider the diverse range of risks unique to the Islamicbanking sector

    Effective risk management in Islamic banking deserves priorityattention. Unless the industry develops its own genuine riskmanagement architecture, it cannot achieve its full potential andthe viability needed for a more resilient financial system than thedebunked Wall Street model. Mapping the Risks and RiskManagement Practices in Islamic Banking provides a deep,authoritative analysis of where the industry is today and where itneeds to develop.


  • Portfolio management : theory and practice / Scott D. Stewart, Christopher D. Piros, Jeffrey C. Heisler
    HG4529.5

    A career's worth of portfolio management knowledge in one thorough, efficient guide

    Portfolio Management is an authoritative guide for those who wish to manage money professionally. This invaluable resource presents effective portfolio management practices supported by their underlying theory, providing the tools and instruction required to meet investor objectives and deliver superior performance. Highlighting a practitioner's view of portfolio management, this guide offers real-world perspective on investment processes, portfolio decision making, and the business of managing money for real clients. Real world examples and detailed test cases--supported by sophisticated Excel templates and true client situations--illustrate real investment scenarios and provide insight into the factors separating success from failure. The book is an ideal textbook for courses in advanced investments, portfolio management or applied capital markets finance. It is also a useful tool for practitioners who seek hands-on learning of advanced portfolio techniques.

    Managing other people's money is a challenging and ever-evolving business. Investment professionals must keep pace with the current market environment to effectively manage their client's assets while students require a foundation built on the most relevant, up-to-date information and techniques. This invaluable resource allows readers to:

    Learn and apply advanced multi-period portfolio methods to all major asset classes. Design, test, and implement investment processes. Win and keep client mandates. Grasp the theoretical foundations of major investment tools

    Teaching and learning aids include:

    Easy-to-use Excel templates with immediately accessible tools. Accessible PowerPoint slides, sample exam and quiz questions and sample syllabi Video lectures

    Proliferation of mathematics in economics, growing sophistication of investors, and rising competition in the industry requires advanced training of investment professionals. Portfolio Management provides expert guidance to this increasingly complex field, covering the important advancements in theory and intricacies of practice.


  • Reading financial reports for dummies / by Lita Epstein
    HG4028.B2

    Reading Financial Reports For Dummies, 3rd Edition (9781119543954) was previously published as Reading Financial Reports For Dummies, 3rd Edition (9781118761939). While this version features a new Dummies cover and design, the content is the same as the prior release and should not be considered a new or updated product.

    Discover how to decipher financial reports

    Especially relevant in today's world of corporate scandals and new accounting laws, the numbers in a financial report contain vitally important information about where a company has been and where it is going.

    Packed with new and updated information, Reading Financial Reports For Dummies, 3rd Edition gives you a quick but clear introduction to financial reports-and how to decipher the information in them.

    New information on the separate accounting and financial reporting standards for private/small businesses versus public/large businesses New content to match SEC and other governmental regulatory changes New information about how the analyst-corporate connection has actually changed the playing field The impact of corporate communications and new technologies New examples that reflect current trends Updated websites and resources

    Reading Financial Reports For Dummies is for investors, traders, brokers, managers, and anyone else who is looking for a reliable, up-to-date guide to reading financial reports effectively.


  • Personal finance for dummies / by Eric Tyson
    HG179

    Take stock of your financial situation

    From budgeting, saving, and reducing debt, to making timely investment choices and planning for the future, Personal Finance For Dummies provides fiscally conscious readers with the tools they need to take charge of their financial life.

    This new edition includes coverage of an extensive new tax bill that took effect in 2018 and the impact on individuals, families, small businesses, and on real estate and investing decisions. Plus, it covers emerging investing interests like technology and global investing, cryptocurrencies, pot stocks, the lifestyle changes occurring with millennials, and more.

    Evaluate and manage your financial fitness Assess your credit report and improve your score Make smart investments in any economic environment Find out about international investing

    The expert advice offered in Personal Finance For Dummies is for anyone looking to ensure that their finances are on the right track--and to identify the areas in which they can improve their financial strategies.


  • The conceptual foundations of investing : a short book of need-to-know essentials / Bradford Cornell, Shaun Cornell, Andrew Cornell
    HG4521

    The need-to-know essentials of investing

    This book explains the conceptual foundations of investing to improve investor performance. There are a host of investment mistakes that can be avoided by such an understanding. One example involves the trade-off between risk and return. The trade-off seems to imply that if you bear more risk you will have higher long-run average returns. That conclusion is false. It is possible to bear a great deal of risk and get no benefit in terms of higher average return.

    Understanding the conceptual foundations of finance makes it clear why this is so and, thereby, helps an investor avoid bearing uncompensated risks. Another choice every investor has to make is between active versus passive investing. Making that choice wisely requires understanding the conceptual foundations of investing.

    * Instructs investors willing to take the time to learn all of the concepts in layman's terms

    * Teaches concepts without overwhelming readers with math

    * Helps you strengthen your portfolio

    * Shows you the fundamental concepts of active investing

    The Conceptual Foundations of Investing is ultimately for investors looking to understand the science behind successful investing.


  • Financial instrument pricing using C++ / Daniel J. Duffy
    HG4515.2
    An integrated guide to C++ and computational finance

    This complete guide to C++ and computational finance is a follow-up and major extension to Daniel J. Duffy's 2004 edition of Financial Instrument Pricing Using C++ . Both C++ and computational finance have evolved and changed dramatically in the last ten years and this book documents these improvements. Duffy focuses on these developments and the advantages for the quant developer by:

    Delving into a detailed account of the new C++11 standard and its applicability to computational finance. Using de-facto standard libraries, such as Boost and Eigen to improve developer productivity. Developing multiparadigm software using the object-oriented, generic, and functional programming styles. Designing flexible numerical algorithms: modern numerical methods and multiparadigm design patterns. Providing a detailed explanation of the Finite Difference Methods through six chapters, including new developments such as ADE, Method of Lines (MOL), and Uncertain Volatility Models. Developing applications, from financial model to algorithmic design and code, through a coherent approach. Generating interoperability with Excel add-ins, C#, and C++/CLI. Using random number generation in C++11 and Monte Carlo simulation.

    Duffy adopted a spiral model approach while writing each chapter of Financial Instrument Pricing Using C++ 2e : analyse a little, design a little, and code a little. Each cycle ends with a working prototype in C++ and shows how a given algorithm or numerical method works. Additionally, each chapter contains non-trivial exercises and projects that discuss improvements and extensions to the material.

    This book is for designers and application developers in computational finance, and assumes the reader has some fundamental experience of C++ and derivatives pricing.

    HOW TO RECEIVE THE SOURCE CODE

    Once you have purchased a copy of the book please send an email to the author dduffyATdatasim.nl requesting your personal and non-transferable copy of the source code. Proof of purchase is needed. The subject of the mail should be "C++ Book Source Code Request". You will receive a reply with a zip file attachment.


  • Machine learning for finance : principles and practice for financial insiders / Jannes Klaas
    HG104
    A guide to advances in machine learning for financial professionals, with working Python code Key Features Explore advances in machine learning and how to put them to work in financial industries Clear explanation and expert discussion of how machine learning works, with an emphasis on financial applications Deep coverage of advanced machine learning approaches including neural networks, GANs, and reinforcement learning Book Description Machine Learning for Finance explores new advances in machine learning and shows how they can be applied across the financial sector, including in insurance, transactions, and lending. It explains the concepts and algorithms behind the main machine learning techniques and provides example Python code for implementing the models yourself. The book is based on Jannes Klaas' experience of running machine learning training courses for financial professionals. Rather than providing ready-made financial algorithms, the book focuses on the advanced ML concepts and ideas that can be applied in a wide variety of ways. The book shows how machine learning works on structured data, text, images, and time series. It includes coverage of generative adversarial learning, reinforcement learning, debugging, and launching machine learning products. It discusses how to fight bias in machine learning and ends with an exploration of Bayesian inference and probabilistic programming. What you will learn Apply machine learning to structured data, natural language, photographs, and written text How machine learning can detect fraud, forecast financial trends, analyze customer sentiments, and more Implement heuristic baselines, time series, generative models, and reinforcement learning in Python, scikit-learn, Keras, and TensorFlow Dig deep into neural networks, examine uses of GANs and reinforcement learning Debug machine learning applications and prepare them for launch Address bias and privacy concerns in machine learning Who this book is for This book is ideal for readers who understand math and Python, and want to adopt machine learning in financial applications. The book assumes college-level knowledge of math and statistics.

  • Target funding : a proven system to get the money & resources you need to start or grow your business / Kedma Ough
    HG4027.7
    Discover the targeted funding and resources available to support YOUR small business or idea







    Target Funding ensures that the struggle to obtain funds will never again come between you and your dreams.




    Too often, great business ideas fail to see the light of day because the entrepreneur doesn't know how to secure the funding he or she needs. Until now. Target Funding proves you don't need to be one of these would-be business owners or inventors. No matter what your idea might be, there is funding available to build a solid business or invention around it. Target Funding helps you obtain this and more--even if you have faced bankruptcy, exhausted all avenues, or feel like you are at your wit's end.




    Kedma Ough is one of today's most respected authorities on business funding and entrepreneurship and this practical guide reveals how to locate and secure the necessary funds and resources you need to launch, stabilize, or grow your business dream. She will open your eyes to the vast array of opportunities you didn't know existed--and provides special insight into beneficial sources before you're even left the gate.




    Target Funding takes you on a deep dive into:




    * The wide range of funding options available for any startup, including un-bankable ventures and independent inventors

    * Hundreds of vetted funding sources detailing features and eligibility requirements

    * A winning process for matching funding opportunities with your specific needs

    * Step-by-step guidance on how to approach funding sources, win them over, and convince them to provide the money you need

    * Real-life business funding stories that will motivate you to act




    You'll learn about all the options available to you, including conventional, alternative, and diversity funding. You'll find out how to access all of them based on your needs, demographic, industry, location, and other variables.




    Get started on your dream venture today! With Target Funding , you have a proven business-funding strategy to lift your company or invention off the ground and become a sustainable profit machine.





  • Swing trading for dummies / by Omar Bassal
    HG4529

    Increase profit and limit risk with swing trading basics

    Swing trading is all about riding the momentum of brief price changes in trending stocks. Although it can be risky, swing trading is popular for a reason, and Swing Trading For Dummies, 2nd Edition, will show you how to manage the risk and navigate the latest markets to succeed at this lucrative trading strategy.

    In this updated edition, you'll find expert guidance on new accounting rules, the 2018 tax law, trading in international markets, algorithmic trading, and more. Plus, learn about the role social media now plays in moving asset prices, and how you can tap into online trends to ride price swings.

    Understand money management, journal keeping, and strategy planning Focus on fundamental analysis to increase your chance of success Evaluate companies to screen for under- or overvalued stocks Develop and implement your trading plan and calculate performance

    Starting from the basic differences between swing trading and other trading styles and progressing through plain-English explanations of more advanced topics like charts and reporting standards, Swing Trading For Dummies will help you maintain and grow your assets with swing trading in any market!


  • Actuarial finance : derivatives, quantitative models and risk management / Mathieu Boudreault and Jean-François Renaud
    HG 8781 B68 2019

    A new textbook offering a comprehensive introduction to models and techniques for the emerging field of actuarial Finance

    Drs. Boudreault and Renaud answer the need for a clear, application-oriented guide to the growing field of actuarial finance with this volume, which focuses on the mathematical models and techniques used in actuarial finance for the pricing and hedging of actuarial liabilities exposed to financial markets and other contingencies. With roots in modern financial mathematics, actuarial finance presents unique challenges due to the long-term nature of insurance liabilities, the presence of mortality or other contingencies and the structure and regulations of the insurance and pension markets.

    Motivated, designed and written for and by actuaries, this book puts actuarial applications at the forefront in addition to balancing mathematics and finance at an adequate level to actuarial undergraduates. While the classical theory of financial mathematics is discussed, the authors provide a thorough grounding in such crucial topics as recognizing embedded options in actuarial liabilities, adequately quantifying and pricing liabilities, and using derivatives and other assets to manage actuarial and financial risks.

    Actuarial applications are emphasized and illustrated with about 300 examples and 200 exercises. The book also comprises end-of-chapter point-form summaries to help the reader review the most important concepts. Additional topics and features include:

    Compares pricing in insurance and financial markets Discusses event-triggered derivatives such as weather, catastrophe and longevity derivatives and how they can be used for risk management; Introduces equity-linked insurance and annuities (EIAs, VAs), relates them to common derivatives and how to manage mortality for these products Introduces pricing and replication in incomplete markets and analyze the impact of market incompleteness on insurance and risk management; Presents immunization techniques alongside Greeks-based hedging; Covers in detail how to delta-gamma/rho/vega hedge a liability and how to rebalance periodically a hedging portfolio.

    This text will prove itself a firm foundation for undergraduate courses in financial mathematics or economics, actuarial mathematics or derivative markets. It is also highly applicable to current and future actuaries preparing for the exams or actuary professionals looking for a valuable addition to their reference shelf.

    As of 2019, the book covers significant parts of the Society of Actuaries' Exams FM, IFM and QFI Core, and the Casualty Actuarial Society's Exams 2 and 3F. It is assumed the reader has basic skills in calculus (differentiation and integration of functions), probability (at the level of the Society of Actuaries' Exam P), interest theory (time value of money) and, ideally, a basic understanding of elementary stochastic processes such as random walks.


  • Game-theoretic foundations for probability and finance / Glenn Ray Shafer, Vladimir Vovk
    HG 176.5 S53 2019

    Game-theoretic probability and finance come of age

    Glenn Shafer and Vladimir Vovk's Probability and Finance , published in 2001, showed that perfect-information games can be used to define mathematical probability. Based on fifteen years of further research, Game-Theoretic Foundations for Probability and Finance presents a mature view of the foundational role game theory can play. Its account of probability theory opens the way to new methods of prediction and testing and makes many statistical methods more transparent and widely usable. Its contributions to finance theory include purely game-theoretic accounts of Ito's stochastic calculus, the capital asset pricing model, the equity premium, and portfolio theory.

    Game-Theoretic Foundations for Probability and Finance is a book of research. It is also a teaching resource. Each chapter is supplemented with carefully designed exercises and notes relating the new theory to its historical context.

    Praise from early readers

    "Ever since Kolmogorov's Grundbegriffe , the standard mathematical treatment of probability theory has been measure-theoretic. In this ground-breaking work, Shafer and Vovk give a game-theoretic foundation instead. While being just as rigorous, the game-theoretic approach allows for vast and useful generalizations of classical measure-theoretic results, while also giving rise to new, radical ideas for prediction, statistics and mathematical finance without stochastic assumptions. The authors set out their theory in great detail, resulting in what is definitely one of the most important books on the foundations of probability to have appeared in the last few decades." - Peter Grünwald, CWI and University of Leiden

    "Shafer and Vovk have thoroughly re-written their 2001 book on the game-theoretic foundations for probability and for finance. They have included an account of the tremendous growth that has occurred since, in the game-theoretic and pathwise approaches to stochastic analysis and in their applications to continuous-time finance. This new book will undoubtedly spur a better understanding of the foundations of these very important fields, and we should all be grateful to its authors." - Ioannis Karatzas, Columbia University


  • Operational risk modeling in financial services : the exposure, occurrence, impact method / Patrick Naim, Laurent Condamin
    HG 173 N35 2019

    Transform your approach to oprisk modelling with a proven, non-statistical methodology

    Operational Risk Modeling in Financial Services provides risk professionals with a forward-looking approach to risk modelling, based on structured management judgement over obsolete statistical methods. Proven over a decade's use in significant banks and financial services firms in Europe and the US, the Exposure, Occurrence, Impact (XOI) method of operational risk modelling played an instrumental role in reshaping their oprisk modelling approaches; in this book, the expert team that developed this methodology offers practical, in-depth guidance on XOI use and applications for a variety of major risks.

    The Basel Committee has dismissed statistical approaches to risk modelling, leaving regulators and practitioners searching for the next generation of oprisk quantification. The XOI method is ideally suited to fulfil this need, as a calculated, coordinated, consistent approach designed to bridge the gap between risk quantification and risk management. This book details the XOI framework and provides essential guidance for practitioners looking to change the oprisk modelling paradigm.

    Survey the range of current practices in operational risk analysis and modelling Track recent regulatory trends including capital modelling, stress testing and more Understand the XOI oprisk modelling method, and transition away from statistical approaches Apply XOI to major operational risks, such as disasters, fraud, conduct, legal and cyber risk

    The financial services industry is in dire need of a new standard -- a proven, transformational approach to operational risk that eliminates or mitigates the common issues with traditional approaches. Operational Risk Modeling in Financial Services provides practical, real-world guidance toward a more reliable methodology, shifting the conversation toward the future with a new kind of oprisk modelling.


  • Operational risk management : best practices in the financial services industry / Ariane Chapelle
    HG173

    The Authoritative Guide to the Best Practices in Operational Risk Management

    Operational Risk Management offers a comprehensive guide that contains a review of the most up-to-date and effective operational risk management practices in the financial services industry. The book provides an essential overview of the current methods and best practices applied in financial companies and also contains advanced tools and techniques developed by the most mature firms in the field.

    The author explores the range of operational risks such as information security, fraud or reputation damage and details how to put in place an effective program based on the four main risk management activities: risk identification, risk assessment, risk mitigation and risk monitoring. The book also examines some specific types of operational risks that rank high on many firms' risk registers.

    Drawing on the author's extensive experience working with and advising financial companies, Operational Risk Management is written both for those new to the discipline and for experienced operational risk managers who want to strengthen and consolidate their knowledge.


  • Analysing and interpreting the yield curve / Moorad Choudhry
    HG4651

    Understand and interpret the global debt capital markets

    Now in a completely updated and expanded edition, this is a technical guide to the yield curve, a key indicator of the global capital markets and the understanding and accurate prediction of which is critical to all market participants. Being able to accurately and timely predict the shape and direction of the curve permits practitioners to consistently outperform the market.

    Analysing and Interpreting the Yield Curve, 2nd Edition describes what the yield curve is, explains what it tells participants, outlines the significance of certain shapes that the curve assumes and, most importantly, demonstrates what factors drive it and how it is modelled and used.

    Covers the FTP curve, the multi-currency curve, CSA, OIS-Libor and 3-curve models Gets you up to speed on the secured curve Describes application of theoretical versus market curve relative value trading Explains the concept of the risk-free rate Accessible demonstration of curve interpolation best-practice using cubic spline, Nelson-Siegel and Svensson 94 models

    This advanced text is essential reading for traders, asset managers, bankers and financial analysts, as well as graduate students in banking and finance.


  • Private debt : opportunities in corporate direct lending / Stephen L. Nesbitt
    HG4521

    The essential resource for navigating the growing direct loan market

    Private Debt: Opportunities in Corporate Direct Lending provides investors with a single, comprehensive resource for understanding this asset class amidst an environment of tremendous growth. Traditionally a niche asset class pre-crisis, corporate direct lending has become an increasingly important allocation for institutional investors--assets managed by Business Development Company structures, which represent 25% of the asset class, have experienced over 600% growth since 2008 to become a $91 billion market. Middle market direct lending has traditionally been relegated to commercial banks, but onerous Dodd-Frank regulation has opened the opportunity for private asset managers to replace banks as corporate lenders; as direct loans have thus far escaped the low rates that decimate yield, this asset class has become an increasingly attractive option for institutional and retail investors.

    This book dissects direct loans as a class, providing the critical background information needed in order to work effectively with these assets.

    Understand direct lending as an asset class, and the different types of loans available Examine the opportunities, potential risks, and historical yield Delve into various loan investment vehicles, including the Business Development Company structure Learn how to structure a direct loan portfolio, and where it fits within your total portfolio

    The rapid rise of direct lending left a knowledge gap surrounding these nontraditional assets, leaving many investors ill-equipped to take full advantage of ever-increasing growth. This book provides a uniquely comprehensive guide to corporate direct lending, acting as both crash course and desk reference to facilitate smart investment decision making.


  • Volatility : practical options theory / by Adam S. Iqbal
    HG6024.A3

    Gain a deep, intuitive and technical understanding of practical options theory

    The main challenges in successful options trading are conceptual, not mathematical. Volatility: Practical Options Theory provides financial professionals, academics, students and others with an intuitive as well as technical understanding of both the basic and advanced ideas in options theory to a level that facilitates practical options trading. The approach taken in this book will prove particularly valuable to options traders and other practitioners tasked with making pricing and risk management decisions in an environment where time constraints mean that simplicity and intuition are of greater value than mathematical formalism.

    The most important areas of options theory, namely implied volatility, delta hedging, time value and the so-called options greeks are explored based on intuitive economic arguments alone before turning to formal models such as the seminal Black-Scholes-Merton model. The reader will understand how the model free approach and mathematical models are related to each other, their underlying theoretical assumptions and their implications to level that facilitates practical implementation.

    There are several excellent mathematical descriptions of options theory, but few focus on a translational approach to convert the theory into practice. This book emphasizes the translational aspect, while first building an intuitive, technical understanding that allows market makers, portfolio managers, investment managers, risk managers, and other traders to work more effectively within--and beyond--the bounds of everyday practice.

    Gain a deeper understanding of the assumptions underlying options theory Translate theoretical ideas into practice Develop a more accurate intuition for better time-constrained decision making

    This book allows its readers to gain more than a superficial understanding of the mechanisms at work in options markets. Volatility gives its readers the edge by providing a true bedrock foundation upon which practical knowledge becomes stronger.


  • Effective statistical learning methods for actuaries. Michel Denuit, Donatien Hainaut, Julien Trufin
    HG 8781 D46 2019eb

  • Compliance norms in financial institutions : measures, case studies and best practices / Tomasz Braun
    HG173

  • Risk-return relationship and portfolio management / Raj S. Dhankar
    HG 4529.5 D53 2019eb

  • Solutions to financial economics : exercises on classical and behavioral finance / Thorsten Hens, Marc Oliver Rieger
    HG173

  • Financial ecosystem : the role of finance in achieving sustainability / Stayajit Bose, Guo Dong, Anne Simpson
    HG4523

  • Global issues in banking and finance : 4th International Conference on Banking and Finance Perspectives / Nesrin Ozatac, Korhan K. Gokmenoglu, editors
    HG1521

  • Derivatives and Internal Models Modern Risk Management / by Hans-Peter Deutsch, Mark W. Beinker
    HG6024.A3

  • International trade finance : a pragmatic approach / Tarsem Bhogal, Arun Trivedi
    HG3753

  • The consequences of short-sale constraints on the stability of financial markets / Gevorg Hunanyan ; with a foreword by Axel Wieandt and Sebastian Moenninghoff
    HG6041

  • Fintech and Islamic finance : digitalization, development and disruption / Nafis Alam, Lokesh Gupta, Abdolhossein Zameni
    HG 187.4 A43 2019eb

  • The impact of digital transformation and FinTech on the finance professional / Volker Liermann, Claus Stegmann, editors
    HG 101 I46 2019eb

  • Islamic monetary economics and institutions : theory and practice / Muhamed Zulkhibri, Turkhan Ali Abdul Manap, Aishath Muneeza, editors
    HG187.4

  • Red notice : a true story of high finance, murder, and one man's fight for justice / Bill Browder
    HG 172 B77A3 2015
    A real-life political thriller about an American financier in the Wild East of Russia, the murder of his principled young tax attorney, and his dangerous mission to expose the Kremlin's corruption.

    Bill Browder's journey started on the South Side of Chicago and moved through Stanford Business School to the dog-eat-dog world of hedge fund investing in the 1990s. It continued in Moscow, where Browder made his fortune heading the largest investment fund in Russia after the Soviet Union's collapse. But when he exposed the corrupt oligarchs who were robbing the companies in which he was investing, Vladimir Putin turned on him and, in 2005, had him expelled from Russia.

    In 2007, a group of law enforcement officers raided Browder's offices in Moscow and stole $230 million of taxes that his fund's companies had paid to the Russian government. Browder's attorney Sergei Magnitsky investigated the incident and uncovered a sprawling criminal enterprise. A month after Sergei testified against the officials involved, he was arrested and thrown into pre-trial detention, where he was tortured for a year. On November 16, 2009, he was led to an isolation chamber, handcuffed to a bedrail, and beaten to death by eight guards in full riot gear.

    Browder glimpsed the heart of darkness, and it transformed his life: he embarked on an unrelenting quest for justice in Sergei's name, exposing the towering cover-up that leads right up to Putin. A financial caper, a crime thriller, and a political crusade, Red Notice is the story of one man taking on overpowering odds to change the world.

  • The lords of creation, by Frederick Lewis Allen
    HG 181 A57 1966

  • Money and banking in the Chinese Mainland / Katharine H.Y. Huang Hsiao
    HG 1285 H73 1984

  • Australian monetary and fiscal policy; selected readings
    HG 1395 R85

  • Monetary policy for stable growth [by] E. Victor Morgan
    HG 939.5 M67 1966

  • Home mortgage delinquency and foreclosure / John P. Herzog and James S. Earley
    HG 2040.5 U5H46

  • Studies in Indian financial system / by V.A. Avadhani
    HG 188 I6A94

  • Demand for money in Canada, 1947 to 1970 / by John Charles Goveia
    HG 255 G6+

  • Finansovyĭ kapital; issledovanie noveĭsheĭ fazy v razvitii kapitalizma. Perevod s nemet︠s︡kogo I.I. Stepanova-Skvort︠so︡va
    HG 173 H525 1959

  • Open market operations [by Paul Meek
    HG 2563 F3 1964

  • The case for people's quantitative easing / Frances Coppola
    HG 230.3 C67 2019eb

    In the wake of the 2008 financial crisis, central banks created trillions of dollars of new money, and poured it into financial markets. 'Quantitative Easing' (QE) was supposed to prevent deflation and restore economic growth.

    But the money didn't go to ordinary people: it went to the rich, who didn't need it. It went to big corporations and banks - the same banks whose reckless lending caused the crash. This led to a decade of stagnation, not recovery. QE failed.

    In this book, Frances Coppola makes the case for a 'people's QE', in which the money goes directly to ordinary people and small businesses. She argues that it is the fairest and most effective way of restoring crisis-hit economies and helping to solve the long-term challenges of ageing populations, automation and climate change.


  • Multinational financial management / Alan C. Shapiro, University of Southern California, Paul Hanouna, Villanova University
    HG 4027.5 S47 2020

    The eleventh edition of Multinational Financial Management is a comprehensive survey of the essential areas of the international financial market environment, including foreign exchange and derivative markets, risk management, and international capital markets and portfolio investment. Designed for upper-level undergraduate and masters-level courses in international finance and management, this textbook offers readers a conceptual framework for analyzing key financial decisions of multinational firms. The authors both explain and simplify multinational financial management by illustrating how its basic principles share the same foundation as domestic corporate finance.

    Assuming no prior knowledge of international economics or finance, this substantially revised new edition builds upon the fundamental principles of domestic financial management to examine the unique dimensions of international finance. Readers are presented with a solid theoretical knowledgebase for examining decision problems, as well as practical analytical techniques that clarify the often-ambiguous guidelines used by international financial executives. All the traditional areas of corporate finance are explored from the perspective of a multinational corporation, focusing on elements rarely encountered in domestic finance such as multiple currencies, segmented capital markets, and political risks of nationalization or expropriation.


  • A guide to financing mechanisms in international business transactions / by Sang Man Kim
    HG 4027.5 K56 2019eb

  • The ultimate ETF guidebook / [David Stevenson & David Tuckwell]
    HG 6043 S74 2019

    Exchange Traded Funds have revolutionised investing. Thanks to ETFs, investors now have the world at their fingertips and can invest in everything, from commodities to countries to currencies. But are investors using these funds effectively? And where do ETFs go from here?

    This books starts with an overview of the current wonderful world of ETFs, including an analysis of how the industry is changing for both providers and investors.

    Then, in a series of essays, it covers recent key developments, including: smart beta ETFs, which are preaching the gospel of factor investing, fixed income ETFs, which are making bond markets available to everyone, environmental and social governance funds, which try to humanise investing, and robo-advisors, which use ETFs to automate portfolio construction.

    These developments are put into context, showing why ETF sponsors are changing the rules of the game and how the many and varied investors that use ETFs are taking to them.

    In the final section, the book offers a series of model ETF portfolios, showing how investors can use ETFs to build effective portfolios. The book concludes with the Top101 - a subjective selection of the top ETFs across all asset classes that investors should consider when building an ETF portfolio.


  • Analysing and interpreting the yield curve / Moorad Choudhry ; with contributions from Polina Bardaeva [and 4 others]
    HG 4651 C6793 2019

    Understand and interpret the global debt capital markets

    Now in a completely updated and expanded edition, this is a technical guide to the yield curve, a key indicator of the global capital markets and the understanding and accurate prediction of which is critical to all market participants. Being able to accurately and timely predict the shape and direction of the curve permits practitioners to consistently outperform the market.

    Analysing and Interpreting the Yield Curve, 2nd Edition describes what the yield curve is, explains what it tells participants, outlines the significance of certain shapes that the curve assumes and, most importantly, demonstrates what factors drive it and how it is modelled and used.

    Covers the FTP curve, the multi-currency curve, CSA, OIS-Libor and 3-curve models Gets you up to speed on the secured curve Describes application of theoretical versus market curve relative value trading Explains the concept of the risk-free rate Accessible demonstration of curve interpolation best-practice using cubic spline, Nelson-Siegel and Svensson 94 models

    This advanced text is essential reading for traders, asset managers, bankers and financial analysts, as well as graduate students in banking and finance.


  • Money : myths, truths and alternatives Mary Mellor
    HG 221 M455 2019
    It's been called the root of all evil, and many other things besides, but what exactly does money mean ? Where does it come from, and how does it work? In this book, Mary Mellor seeks to answer these questions, examining the social, political, and commercial history of money. Mellor debunks a number of received notions as little more than longstanding myths, like the idea that money is in short supply and needs to always come from somewhere. She also moves beyond merely setting straight the record on money: she lays out a radical framework for restructuring our current financial systems. Arguing that money's immense social value means that its creation and circulation should be a matter of democratic choice, Mellor advocates for a system that is driven more heavily by concerns for the environment and gender equality, musing that perhaps one day, money could become the root of all good.

  • Mom and dad, we need to talk : how to have essential conversations with your parents about their finances / Cameron Huddleston
    HG 179 H833 2019

    Learn to start open, productive talks about money with your parents as they age

    As your parents age, you may find that you want or need to broach the often-difficult subject of finances. In Mom and Dad, We Need to Talk: How to Have Essential Conversations with Your Parents About Their Finances, you'll learn the best ways to approach this issue, along with a wealth of financial and legal information that will help you help your parents into and through their golden years.

    Sometimes parents are reluctant to address money matters with their adult children, and topics such as long-term care, retirement savings (or lack thereof), and end-of-life planning can be particularly touchy. In this book, you'll hear from others in your position who have successfully had "the talk" with their parents, and you'll read about a variety of conversation strategies that can make talking finances more comfortable and more productive.

    Learn conversation starters and strategies to open the lines of communication about your parents' finances Discover the essential financial and legal information you should gather from your parents to be prepared for the future Gain insight from others' stories of successfully talking money with aging parents Gather the courage, hope, and motivation you need to broach difficult subjects such as care facilities and end-of-life plans

    For children of Baby Boomers and others looking to assist aging parents with their finances, Mom and Dad, We Need to Talk is a welcome and comforting read. Although talking money with your parents can be hard, you aren't alone, and this book will guide you through the process of having fruitful financial conversations that lead to meaningful action.


  • Macroeconomic shocks and unconventional monetary policy : impacts on emerging markets / edited by Naoyuki Yoshino, Pornpinun Chantapacdepong, Matthias Helble
    HG 1202 M33 2019
    Barely two decades after the Asian financial crisis Asia was suddenly confronted with multiple challenges originating outside the region: the 2008 global financial crisis, the European debt crisis, and finally developed economies' implementation of unconventional monetary policies. Theimplementation of quantitative easing, ultra-low interest rate policies, and negative interest rate policies by a number of large central banks has given rise to concerns over financial stability and international capital flows. Macroeconomic Shocks and Unconventional Monetary Policy: Impacts onEmerging Markets explains how shocks stemming from the global financial crisis have affected macroeconomic and financial stability in emerging Asia.Macroeconomic Shocks and Unconventional Monetary Policy: Impacts on Emerging Markets rings together the most up-to-date knowledge impacts of recent macroeconomic shocks on Asia's real economy; the spillover effects of macroeconomic shocks on financial markets and flows in Asia; and key challengesfor monetary, exchange rate, trade and macro prudential policies of developing Asian economies. It is authored by experts in the field of international macroeconomics from leading academic institutions, central banks, and international organizations including the International Monetary Fund, theBank for International Settlement, and the Asian Development Bank Institute.

  • The sociology of debt / edited by Mark Featherstone
    HG 3701 S593 2019
    The Sociology of Debt considers the lived experience of being in debt as well as the more nebulous processes of global finance, showing how debt functions at both micro- and macroeconomic levels. Featherstone links the problem of debt to the terminal condition of a system premised on deferral and projection into the future with the looming portent of apocalyptic system collapse and eventual rebirth. This book includes contributions from a range of authors in a variety of disciplines who approach debt from holistic perspectives, providing accounts that span both social scientific as well as economic analysis.

  • A research agenda for financial inclusion and microfinance / edited by Marek Hudon, Solvay Brussels School of Economics and Management, CERMi-Université Libre de Bruxelles, Belgium, Marc Labie, Warocqué School of Business and Economics, CERMi-Université de Mons, Belgium, Ariane Szafarz, Solvay Brussels School of Economics and Management, CERMi-Université Libre de Bruxelles, Belgium
    HG 178.3 R47 2019
    Elgar Research Agendas outline the future of research in a given area. Leading scholars are given the space to explore their subject in provocative ways, and map out the potential directions of travel. They are relevant but also visionary.How can financial services, such as credit, deposit accounts, financial transfers, and insurance be provided to people in need? This challenging and complex issue has been a topic of interest for the international aid community for decades. Drawing on renowned experts in microfinance and financial inclusion, this Research Agenda sheds much-needed light on this multifaceted challenge and points the way ahead for future research.Providing a critical and multidisciplinary approach to research in microfinance and financial inclusion, the authors provide a state-of-the-art overview of current scholarly knowledge on the provision of financial services to disadvantaged populations worldwide. Reviewing the literature on the subject from the fields of economics, management science and development studies, they discuss the limitations and challenges of current research and chart avenues for future developments.With its fascinating insights, this Research Agenda will be of interest to students of finance and economics, development, and business and management, as well as researchers with a specific interest in microfinance and financial inclusion.

  • The rise of finance : causes, consequences and cures / V. Anantha Nageswaran, Gulzar Natarajan
    HG 173 N244 2019
    Financialisation, or the disproportionate importance of financial considerations in economic decisions, has been a defining feature of the economic history of the last twenty-five years. The wave of deregulation that accompanied the neoliberal agenda in the US, aided by the dominance of US dollar and American economy, has resulted in the globalisation of finance. This book examines the rise of financialisation globally, while charting its drawbacks and prescribing suggestions for a definitive overhaul of the structure. Bringing together various strands of the latest research and evidence generated in recent years, empirical analysis, and views of reputed experts in the field, it presents a counter-point to the canonical ideas of analysing financial market dynamics and financial globalisation. It proposes a revision of the current monetary policy paradigm to correct its excessive focus on equity markets and their 'wealth effect', embrace a more symmetric response to the economic cycle, and a mandate to focus on financial stability as much as price stability.

  • How finance works : the HBR guide to thinking smart about the numbers / Mihir A. Desai
    HG 173 D433 2019
    Based on a popular class taught by a Harvard Business School professor.

    If you're not a numbers person, then finance can be intimidating and easy to ignore. But if you want to advance in your career, you'll need to make smart financial decisions and develop the confidence to clearly communicate those decisions to others.

    In How Finance Works , Mihir Desai--a professor at Harvard Business School and author of The Wisdom of Finance --guides you into the complex but endlessly fascinating world of finance, demystifying it in the process.

    Through entertaining case studies, interactive exercises, full-color visuals, and a conversational style that belies the topic, Professor Desai tackles a broad range of topics that will give you the knowledge and skills you need to finally understand how finance works. These include:

    How different financial levers can affect a company's performance The different ways in which companies fund their operations and investments Why finance is more concerned with cash flow than profits How value is created, measured, and maximized The importance of capital markets in helping companies grow

    Whether you're a student or a manager, an aspiring CFO or an entrepreneur, How Finance Works is the colorful and interactive guide you need to help you start thinking more deeply about the numbers.


  • Automating finance : infrastructures, engineers, and the making of electronic markets / Juan Pablo Pardo-Guerra, University of California, San Diego
    HG 173 P35 2019
    Trading floors are a thing of the past. Thanks to a combination of computers, high-speed networks and algorithms, millions of financial transactions now happen in fractions of a second. This book studies the automation of stock markets in the United Kingdom and the United States of America, identifying the invisible actors, devices, and politics that were central to the creation of electronic trading. In addition to offering a detailed account of how stock exchanges wrestled with technology, the book also invites readers to rethink the nature of markets in modern societies. Markets, it argues, are sites for the creation of relations, and in studying how these relations changed through technology, the book highlights the sources, dynamics, and consequences of automation. In this respect, the book is both a history of automation in finance and a sociological analysis of the way in which automation gradually changed the lives and work of key financial actors.

  • Behavioral finance for private banking : from the art of advice to the science of advice / Kremena Bachman, Enrico G. De Giorgi, Thorsten Hens
    HG 1978 H46 2018

    An essential framework for wealth management using behavioral finance

    Behavioral Finance for Private Banking provides a complete framework for wealth management tailored to the unique needs of each client. Merging behavioral finance with private banking, this framework helps you gain a greater understanding of your client's wants, needs, and perspectives to streamline the decision making process. Beginning with the theoretical foundations of investment decision making and behavioral biases, the discussion delves into cultural differences in global business and asset allocation over the life cycle of the investment to help you construct a wealth management strategy catered to each individual's needs. This new second edition has been updated to include coverage of fintech and neurofinance, an extension of behavioral finance that is beginning to gain traction in the private banking space.

    Working closely with clients entails deep interpersonal give and take. To be successful, private banking professionals must be as well-versed in behavioral psychology as they are in finance; this intersection is the heart of behavioral finance, and this book provides essential knowledge that can help you better serve your clients' needs.

    Understand the internal dialogue at work when investment decisions are made Overcome the most common behavioral biases--and watch for your own Learn how fintech and neurofinance impact all aspects of private banking Set up a structured wealth management process that places the client's needs front and center Private banking clients demand more than just financial expertise. They want an advisor who truly understands their needs, and can develop and execute the kind of strategy that will help them achieve their goals. Behavioral Finance for Private Banking provides a complete framework alongside insightful discussion to help you become the solution your clients seek.

  • SDR : from Bretton Woods to a world currency / Elena Flor
    HG 3898 F57 2019

    Keynes's proposal in 1944 at the Bretton Woods Conference to found the new international monetary system on a world currency (the "bancor") was rejected and the dollar - convertible into gold - was put at the center of the system.

    In 1968 the IMF created its own "unit of account" - the SDR - based on a basket of national currencies and, in 1971, president Nixon announced the end of dollar convertibility to gold.

    In 2008 the financial crisis erupted and in 2016 the renminbi was included in the SDR basket: a new international multi-currency reserve system is emerging.

    This work offers a synthetic but comprehensive view of the international monetary system's evolution from an original perspective: the process for reinforcing and stabilizing it through the gradual introduction of a world currency (notably, the SDR).


  • Game-theoretic foundations for probability and finance / Glenn Shafer, Rutgers University, New Jersey, USA, Vladimir Vovk, University of London, Surrey, UK
    HG 176.5 S53 2019

    Game-theoretic probability and finance come of age

    Glenn Shafer and Vladimir Vovk's Probability and Finance , published in 2001, showed that perfect-information games can be used to define mathematical probability. Based on fifteen years of further research, Game-Theoretic Foundations for Probability and Finance presents a mature view of the foundational role game theory can play. Its account of probability theory opens the way to new methods of prediction and testing and makes many statistical methods more transparent and widely usable. Its contributions to finance theory include purely game-theoretic accounts of Ito's stochastic calculus, the capital asset pricing model, the equity premium, and portfolio theory.

    Game-Theoretic Foundations for Probability and Finance is a book of research. It is also a teaching resource. Each chapter is supplemented with carefully designed exercises and notes relating the new theory to its historical context.

    Praise from early readers

    "Ever since Kolmogorov's Grundbegriffe , the standard mathematical treatment of probability theory has been measure-theoretic. In this ground-breaking work, Shafer and Vovk give a game-theoretic foundation instead. While being just as rigorous, the game-theoretic approach allows for vast and useful generalizations of classical measure-theoretic results, while also giving rise to new, radical ideas for prediction, statistics and mathematical finance without stochastic assumptions. The authors set out their theory in great detail, resulting in what is definitely one of the most important books on the foundations of probability to have appeared in the last few decades." - Peter Grünwald, CWI and University of Leiden

    "Shafer and Vovk have thoroughly re-written their 2001 book on the game-theoretic foundations for probability and for finance. They have included an account of the tremendous growth that has occurred since, in the game-theoretic and pathwise approaches to stochastic analysis and in their applications to continuous-time finance. This new book will undoubtedly spur a better understanding of the foundations of these very important fields, and we should all be grateful to its authors." - Ioannis Karatzas, Columbia University


  • The historical performance of the Federal Reserve : the importance of rules / Michael D. Bordo
    HG 2563 B66 2019
    Distinguished economist Michael D. Bordo argues for the importance of monetary stability and monetary rules, offering theoretical, empirical, and historical perspectives to support his case. He shows how the pursuit of stable monetary policy guided by central banks following rule-like behavior produces low and stable inflation, stable real performance, and encourages financial stability. In contrast, he explains how the failure to adhere to rules that produce monetary stability will inevitably produce the dire consequences of real, nominal, and financial instability. Bordo also examines the performance of the Federal Reserve and he reviews the history of monetary policy during the Great Depression.

  • Stochastic dominance option pricing : an alternative approach to option market research / Stylianos Perrakis
    HG 6024 A3P47 2019
    This book illustrates the application of the economic concept of stochastic dominance to option markets and presents an alternative option pricing paradigm to the prevailing no arbitrage simultaneous equilibrium in the frictionless underlying and option markets. This new methodology was developed primarily by the author, working independently or jointly with other co-authors, over the course of more than thirty years. Among others, it yields the fundamental Black-Scholes-Merton option value when markets are complete, presents a new approach to the pricing of rare event risk, and uncovers option mispricing that leads to tradeable strategies in the presence of transaction costs. In the latter case it shows how a utility-maximizing investor trading in the market and a riskless bond, subject to proportional transaction costs, can increase his/her expected utility by overlaying a zero-net-cost portfolio of options bought at their ask price and written at their bid price, irrespective of the specific form of the utility function. The book contains a unified presentation of these methods and results, making it a highly readable supplement for educators and sophisticated professionals working in the popular field of option pricing. It also features a foreword by George Constantinides, the Leo Melamed Professor of Finance at the Booth School of Business, University of Chicago, USA, who was a co-author in several parts of the book.

  • Le financement du développement industriel en Europe et aux États-Unis : structure, ressources, méthodes.
    HG 5422 O75 Suppl.
Updated: Thursday 23 January 2020
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