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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.


  • Growth-linked securities
    HG4521

  • Investor decision-making and the role of the financial advisor : a behavioural finance approach / Caterina Cruciani
    HG4521

  • The evolution of central banking : theory and history / Stefano Ugolini
    HG1811

  • Market timing with moving averages the anatomy and performance of trading rules / Valeriy Zakamulin
    HG4521

  • Credit correlation : theory and practice / Youssef Elouerkhaoui
    HG3701

  • Impact Investing Instruments, Mechanisms and Actors
    HG4515.13

  • A guidebook for today's Asian investor the common sense guide to preserving wealth in a turbulent world / Bruce VonCannon
    HG5702

  • Inflation history and measurement / Robert O'Neill, Jeff Ralph, Paul A. Smith
    HG935

  • Verifiable composition of signature and encryption : a comprehensive study of the design paradigms / Laila El Aimani
    HG1710

  • Structured Finance : Techniques, Products and Market / edited by Stefano Caselli, Stefano Gatti
    HG4001

  • Fixed income analytics : bonds in high and low interest rate environments / by Wolfgang Marty
    HG4523

  • Finance in Central and Southeastern Europe / edited by Srećko Goić, Anastasios Karasavvoglou, Persefoni Polychronidou
    HG101

  • Bubbles and Contagion in Financial Markets, Models and Mathematics / by Eva R. Porras
    HG101

  • Ethics in quantitative finance : a pragmatic financial market theory / Timothy Johnson
    HG103

  • The financial consequences of behavioural biases an analysis of bias in corporate finance and financial planning / Imad A. Moosa, Vikash Ramiah
    HG4515.15

  • Money--the new rules of the game / Christian Felber ; translated by Jacqueline Mathewes
    HG221

  • Insurance Transformed Technological Disruption
    HG101

  • A diary of the Euro crisis in Cyprus : lessons for bank recovery and resolution / Panicos Demetriades
    HG3257

  • FINANCIAL MARKETS, SME FINANCING AND EMERGING ECONOMIES
    HG4027.7

  • Macroeconomic policy and Islamic finance in Malaysia Azura Othman, Norhanim Mat Sari, Syed Othman Alhabshi, Abbas Mirakhor
    HG3300.6.A6

  • The business of banking : models, risk and regulation / edited by Giusy Chesini, Elisa Giaretta and Andrea Paltrinieri
    HG1615

  • Risk culture in banking / Alessandro Carretta, Franco Fiordelisi, Paola Schwizer
    HG2974

  • From partisan banking to open access : the emergence of free banking in early nineteenth-century Massachusetts / Qian Lu
    HG2611.M4

  • Ethical dimensions of Islamic finance : theory and practice / Zamir Iqbal & Abbas Mirakhor
    HG187.4

  • Financial regulation in the EU : from resilience to growth / Raphaël Douady, Clément Goulet, Pradier, Pierre-Charles, editors
    HG186.A2

    Financial regulation has dramatically evolved and strengthened since the crisis on both sides of the Atlantic, with enhanced international coordination through the G-20 and the Financial Stability Board and, at the regional level, a definite contribution from the European Union. However the new regulatory environment has its critics, with many divergent voices arguing that over-regulation has become a root cause of our current economic stagnation.

    This book provides a bigger picture view of the impact and future of financial regulation in the EU, exploring the relationship between microeconomic incentives and macroeconomic growth, regulation and financial integration, and the changes required in economic policy to further European integration. Bringing together contributions from law, economics and management science, it offers readers an accessible but rigorous understanding of the current state of play of the regulatory environment, and on the future challenges.

    Coverage will include:

    * A review of the recent regulatory changes from a legal and economic perspective

    * Analysis of how the economic model of financial institutions and entities is impacted by the new frameworks

    * How to improve securitization and new instruments under MIFID II

    * Issues in the enhanced supervision under delegated acts for AIFMD, CRR-CRD IV and Solvency II

    * How long term funding can be supplied in lieu of the non-conventional monetary policies

    * A new architecture for a safer and more efficient European financial system

    Financial Regulation in the EU provides much needed clarity on the impact of new financial regulation and the future of the economy, and will prove a must have reference for all those working in, researching and affected by these changes.


  • Non-performing loans and resolving private sector insolvency : experiences from the EU periphery and the case of Greece / Platon Monokroussos, Christos Gortsos, editors
    HG3942

  • What's wrong with the IMF and how to fix it / Bessma Momani, Mark R. Hibben
    HG 3881.5 I58 M64 2018

    The IMF stands at a crossroad. Derided as increasingly irrelevant in the first decade of the new millennium, the Fund has had its power and prestige restored by the fallout from the 2008 global financial crisis. But will the resurgent IMF assert a more just and sustainable macroeconomic model and provide a voice for poor and marginalized people around the globe? Or will enduring weaknesses within the IMF mean it fails to address these issues?

    In this book, Bessma Momani and Mark R. Hibben dissect the variables and institutional dynamics at play in IMF governance, surveillance, lending, and capacity development to expose the fundamental barriers to change. Identifying four areas that could "fix" the IMF, they show how these genuine and workable solutions can give the IMF the effectiveness and legitimacy it needs to positively shape twenty-first-century global governance and push back against volatile and regressive forces in the international political economy.


  • Sovereign of the market : the money question in early America / Jeffrey Sklansky
    HG 501 S553 2017
    What should serve as money, who should control its creation and circulation, and according to what rules? For more than two hundred years, the "money question" shaped American social thought, becoming a central subject of political debate and class conflict. Sovereign of the Market reveals how and why this happened.

    Jeffrey Sklansky's wide-ranging study comprises three chronological parts devoted to major episodes in the career of the money question. First, the fight over the innovation of paper money in colonial New England. Second, the battle over the development of commercial banking in the new United States. And third, the struggle over the national banking system and the international gold standard in the late nineteenth century. Each section explores a broader problem of power that framed each conflict in successive phases of capitalist development: circulation, representation, and association. The three parts also encompass intellectual biographies of opposing reformers for each period, shedding new light on the connections between economic thought and other aspects of early American culture. The result is a fascinating, insightful, and deeply considered contribution to the history of capitalism.

  • How global currencies work : past, present, and future / Barry Eichengreen, Arnaud Mehl, Livia Chiţu
    HG 3881 E3473 2018

    A powerful new understanding of global currency trends, including the rise of the Chinese yuan

    At first glance, the modern history of the global economic system seems to support the long-held view that the leading world power's currency--the British pound, the U.S. dollar, and perhaps someday the Chinese yuan--invariably dominates international trade and finance. In How Global Currencies Work , three noted economists provide a reassessment of this history and the theories behind the conventional wisdom.

    Offering a new history of global finance over the past two centuries, and marshaling extensive new data to test established theories of how global currencies work, Barry Eichengreen, Arnaud Mehl, and Livia Chiţu argue for a new view, in which several national monies can share international currency status, and their importance can change rapidly. They demonstrate how changes in technology and in the structure of international trade and finance have reshaped the landscape of international currencies so that several international financial standards can coexist. They show that multiple international and reserve currencies have in fact coexisted in the pastupending the traditional view of the British pound's dominance prior to 1945 and the U.S. dollar's dominance more recently.

    Looking forward, the book tackles the implications of this new framework for major questions facing the future of the international monetary system, from whether the euro and the Chinese yuan might address their respective challenges and perhaps rival the dollar, to how increased currency competition might affect global financial stability.


  • The wisdom of money / Pascal Bruckner ; translated from the French by Steven Rendall
    HG 220.3 B7813 2017

    Money is an evil that does good, and a good that does evil. It inspires hymns to the prosperity it enables, manifestos about the poor it leaves behind, and diatribes for its corrosion of morality. In The Wisdom of Money , one of the world's great essayists guides us through the rich commentary that money has generated since ancient times--both the passions and the resentments--as he builds an unfashionable defense of the worldly wisdom of the bourgeoisie.

    Bruckner begins with the worshippers and the despisers. Sometimes they are the same people--priests, for example, who venerate the poor from within churches of opulence and splendor. This hypocrisy endures in our secular world, he says, not least in his own France, where it is de rigueur even among the rich to feign indifference to money. It is better to speak plainly about money in the old American fashion, in Bruckner's view. A little more honesty would allow us to see through the myths of money's omnipotence but also the dangers of the aristocratic, ideological, and religious systems of thought that try to put money in its place. This does not mean we should emulate the mega-rich with their pathologies of consumption, competition, and narcissistic philanthropy. But we could do worse than defy three hundred years of derision from novelists and poets to embrace the unromantic bourgeois virtues of work, security, and moderate comfort. It is wise to have money, Bruckner tells us, and wise to think about it critically.


  • Swiss monetary history since the early 19th century / Ernst Baltensperger (University of Berne, Switzerland), Peter Kugler (University of Basel, Switzerland)
    HG 1152 B253 2017
    This book describes the remarkable path which led to the Swiss Franc becoming the strong international currency that it is today. Ernst Baltensperger and Peter Kugler use Swiss monetary history to provide valuable insights into a number of issues concerning the organization and development of monetary institutions and currency that shaped the structure of financial markets and affected the economic course of a country in important ways. They investigate a number of topics, including the functioning of a world without a central bank, the role of competition and monopoly in money and banking, the functioning of monetary unions, monetary policy of small open economies under fixed and flexible exchange rates, the stability of money demand and supply under different monetary regimes, and the monetary and macroeconomic effects of Swiss Banking and Finance. Swiss Monetary History since the Early 19th Century illustrates the value of monetary history for understanding financial markets and macroeconomics today.

  • Respectable banking : the search for stability in London's money and credit markets since 1695 / Anthony C. Hotson
    HG 2986 H68 2017
    The financial collapse of 2007-8 has questioned our assumptions about the underlying basis for stability in the financial system, and Anthony Hotson here offers an important reassessment of the development of London's money and credit markets since the great currency crisis of 1695. He shows how this period has seen a series of intermittent financial crises interspersed with successive attempts to find ways and means of stabilizing the system. He emphasises, in particular, the importance of various principles of sound banking practice, developed in the late nineteenth century, that helped to stabilize London's money and credit markets. He shows how these principles informed a range of market practices that limited aggressive forms of funding, and discouraged speculative lending. A tendency to downplay the importance of these regulatory practices encouraged a degree of complacency about their removal, with consequences right through to the present day.

  • The paradox of risk : leaving the monetary policy comfort zone / Ángel Ubide
    HG 230.3 U25 2017
    For decades, economic policymakers have worshipped at the altar of combating inflation, reducing public deficits, and discouraging risky behavior by investors. That mindset made them hesitate when the global financial crisis erupted in 2007-08. In the face of the worst economic disaster in 75 years, they often worried excessively about the risks and possible losses from their actions, rather than moving forcefully to support financial institutions, governments and people. #65533;ngel Ubide's provocative thesis in The Paradox of Risk is that central banks' fear of inflation and risk taking has hampered their efforts to revive global prosperity. In their confusion, he argues, policymakers made the recovery weaker. He calls on world leaders to abandon old shibboleths and learn the lessons from the financial crisis and its sluggish aftermath. Ubide mobilizes a wealth of research on the experience from the last decade, urging policymakers to leave their "comfort zone," embrace risk taking, and take bolder action to brighten the world's economic prospects.

  • Paid : tales of dongles, checks, and other money stuff / edited by Bill Maurer and Lana Swartz ; foreword by Bruce Sterling
    HG 231 M58655 2017

    Stories about objects left in the wake of transactions, from cryptocurrencies to leaf-imprinted banknotes to records kept with knotted string.

    Museums are full of the coins, notes, beads, shells, stones, and other objects people have exchanged for millennia. But what about the debris, the things that allow a transaction to take place and are left in its wake? How would a museum go about curating our scrawls on electronic keypads, the receipts wadded in our wallets, that vast information infrastructure that runs the card networks? This book is a catalog for a museum exhibition that never happened. It offers a series of short essays, paired with striking images, on these often ephemeral, invisible, or unnoticed transactional objects -- money stuff.

    Although we've been told for years that we're heading toward total cashlessness, payment is increasingly dependent on things . Consider, for example, the dongle, a clever gizmo that processes card payments by turning information from a card's magnetic stripe into audio information that can be read by a smart phone's headphone jack. Or dogecoin, a meme of a smiling, bewildered dog's interior monologue that fueled a virtual currency similar to Bitcoin. Or go further back and contemplate the paper currency printed with leaves by Benjamin Franklin to foil counterfeiters, or khipu, Incan records kept in knotted string.

    Paid's authors describe these payment-adjacent objects so engagingly that for a moment, financial leftovers seem more interesting than finance. Paid encourages us to take a moment to look at the nuts and bolts of our everyday transactions by looking at the stuff that surrounds them.

    Contributors
    Bernardo B#65533;tiz-Lazo, Maria Bezaitis, Finn Brunton, Lynn H. Gamble, David Graeber, Jane I. Guyer, Keith Hart, Sarah Jeong, Alexandra Lippman, Julien Mailland, Scott Mainwaring, Bill Maurer, Taylor C. Nelms, Rachel O'Dwyer, Michael Palm, Lisa Servon, David L. Stearns, Bruce Sterling, Lana Swartz, Whitney Anne Trettien, Gary Urton


  • Financial decision making : understanding Chinese investment behavior / Ning Zhu ; Foreword by Robert J. Shiller
    HG 5782 Z5763 2017

    This book sheds light on financial decision making and lays down the major biases in human behavioral decision making, such as over-confidence, naive extrapolation, attention, and risk aversion, and how they lead investors and corporations to make considerable mistakes in investment.

    It draws on a large body of literature, from psychology and social psychology to, most importantly, behavioral economics and behavioral finance. It also looks at the progress in behavioral finance research over recent decades and includes research outputs based on retail and institutional investors from the United States, China, and many other international financial markets.

    The book focuses on China#65533;s financial reforms and economic transition and includes many cases from that country to highlight the importance of behavioral finance and investor education. It therefore provides much needed in-depth understanding of the Chinese capital market.


  • Central banks into the breach : from triumph to crisis and the road ahead / Pierre L. Siklos
    HG 1811 S363 2017
    Central banks play an important role in the course of national economies and the global economy. Their leaders are regularly feted or vilified, their policy pronouncements highly anticipated and routinely scrutinized. This is all the more so since the global financial crisis.The past fifteen years in monetary policy is essentially the story of two mistakes and one triumph, argues Pierre L. Siklos, a professor of economics at Wilfrid Laurier University. One mistake was that central bankers underestimated the connection between finance and the real economy. The other wasa failure to realize how inter-connected the world's financial system had become. The triumph, in turn, was the recognition that price stability is a desirable objective. As a result of the financial crisis, central banks stepped into the breach to provide services other institutions were unwilling or unable to carry out. In doing so, the responsibilities for governing monetary policy and financial system stability became more elastic without due consideration forthe appropriateness of the division of responsibilities. Central banks no longer influence just prices they also change financial system quantities. This leads to rising policy uncertainty. And low economic growth, an insufficiently unsubstantiated expansion of central bank responsibilities, andworries over future financial instability are sources of concern that contribute to a loss of confidence in the monetary authorities around the globe.Because no coherent new framework for central bank policy has since emerged, central banking is not broken, but it is in need of repair. Central Banks into the Breach provides an overarching analysis of the current and vulnerable state of central banks and offers potential solutions to stabilize theuncertain future of central banking.

  • Money machine : the surprisingly simple power of value investing / Gary Smith
    HG 4521 S68155 2017
    Put your money to work--the smart way.

    Overheard a seductive stock tip? Saw a story on a promising new product? Stop chasing quick payoffs that will never pan out. If you want to succeed in the market, start thinking of stocks as money machines.

    Investing in the market doesn't have to be reckless speculation--gambling on guesses about zigs and zags in stock prices. Money Machine explains how to invest based on value, selecting stocks that will continue to enrich you for years to come. Value investing is the secret to the success of Warren Buffet, Benjamin Graham, and other Wall Street legends. It can be your secret, too. Discover how to:

    * Judge a stock by the cash it generates * Determine its intrinsic value * Use key investment benchmarks such as price-earnings ratio, dividend-price ratio, q ratio--and the Bogle and Shiller models * Recognize stock market bubbles and profit from panics * Avoid psychological traps that can trip you up * And more

    The stock market is not a get-rich-quick scheme. But it is the best way to achieve the financial success you've always dreamed of. Money Machine will help you make those dreams come true.


  • A history of mortgage banking in the West : financing America's dreams / E. Michael Rosser, Diane M. Sanders
    HG 2040.5 U6 R67 2017

    Part economic history, part public history, A History of Mortgage Banking in the West is an insider's account of how the mortgage banking sector worked over the last 150 years, including analysis of the causes of the 2007 mortgage crisis. Beginning with the land and railroad development acts that encouraged settlement in the west, E. Michael Rosser and Diane M. Sanders trace the laws, institutions, and individuals that contributed to the economic growth of the region.

    Using Colorado and the west as a case study for the nation's economic and property development as a whole since the late nineteenth century, Rosser and Sanders explain how farm mortgages and agricultural lending steadily gave way to urban development and housing mortgages, all while the large mortgage and investment firms financed the development of some of the state's most important water resources and railroad networks. Rosser uses his personal experience as a lifelong practitioner and educator of mortgage banking, along with a plethora of primary sources, academic archives, and industry publications, to analyze the causes of economic booms and busts as they relate to real estate and development.

    Rosser's professional acumen combined with Sanders's research experience makes A History of Mortgage Banking in the West a rich and nuanced account of the region's most significant economic events. It will be an important work for scholars and practitioners in regional and financial history, mortgage market practice and development, government housing and mortgage policy, and financial stability and of great significance to anyone curious about the role of the federal government in national housing policy and the inherent risk in mortgages.


  • A first-class catastrophe : the road to Black Monday, the worst day in Wall Street history / Diana B. Henriques
    HG 4551 H425 2017

    The definitive account of the crash of 1987, a cautionary tale of how the U.S. financial system nearly collapsed-- f rom the bestselling author of The Wizard of Lies

    Monday, October 19, 1987, was by far the worst day in Wall Street history. The market fell 22.6 percent - almost twice as bad as the worst day of 1929 - equal to a one-day loss of nearly 5,000 points today.

    Black Monday was more than seven years in the making and threatened nearly every U.S. financial institution. Drawing on superlative archival research and dozens of original interviews Diana B. Henriques weaves a tale of missed opportunities, market delusions, and destructive actions that stretched from the "silver crisis" of 1980 to turf battles in Washington, a poisonous rivalry between the New York Stock Exchange and the Chicago Mercantile Exchange, and the almost-fatal success of two California professors whose idea for reducing market risk spun terribly out of control. As the story hurtles forward, the players struggle to forestall a looming market meltdown and unexpected heroes step in to avert total disaster.

    For thirty years, investors, regulators, and bankers have failed to heed the lessons of 1987, even as the same patterns have resurfaced, most spectacularly in the financial crisis of 2008. A First-Class Catastrophe offers a new way of looking not only at the past, but at our financial future as well.


  • Borrowing credibility : global banks and monetary regimes / Jana Grittersová
    HG 3881 G7258 2017
    Nations with credible monetary regimes borrow at lower interest rates in international markets and are less likely to suffer speculative attacks and currency crises. While scholars typically attribute credibility to domestic institutions or international agreements, Jana Grittersov#65533; argues that when reputable multinational banks headquartered in Western Europe or North America open branches and subsidiaries within a nation, they enhance that nation's monetary credibility.

    These banks enhance credibility by promoting financial transparency in the local system, improving the quality of banking regulation and supervision, and by serving as private lenders of last resort. Reputable multinational banks provide an enforcement mechanism for publicized economic policies, signaling to international financial markets that the host government is committed to low inflation and stable currency.

    Grittersov#65533; examines actual changes in government behavior of nations trying to gain legitimacy in international financial markets, and the ways in which perceptions of these nations change in relation to multinational banks. In addition to quantitative analysis of over 80 emerging-market countries, she offers extensive case studies of credibility building in the transition countries of Eastern Europe, Argentina in 2001, and the global financial crisis of 2008. Grittersov#65533; illuminates the complex interactions between multinational banks and national policymaking that characterize the process of financial globalization to reveal the importance of market confidence in a world of mobile capital.


  • Big money thinks small : biases, blind spots, and smarter investing / Joel Tillinghast
    HG 4515 T55 2017
    Investors are tempted daily by misleading or incomplete information. They may make a lucky bet, realize a sizable profit, and find themselves full of confidence. Their next high-stakes gamble might backfire, not only hitting them in the balance sheet but also taking a mental and emotional toll. Even veteran investors can be caught off guard: a news item may suddenly cause havoc for an industry they've invested in; crowd mentality among fellow investors may skew the market; a CEO may turn out to be unprepared to effectively guide a company. How can one stay focused in such a volatile profession? If you can't trust your past successes to plan and predict, how can you avoid risky situations in the future?

    In Big Money Thinks Small , veteran fund manager Joel Tillinghast shows investors how to avoid making these mistakes. He offers a set of simple but crucial steps to successful investing, including:
    #65533; Know yourself, how you arrive at decisions, and how you might be susceptible to self-deception.
    #65533; Make decisions based on your own expertise, and do not invest in what you don't understand.
    #65533; Select only trustworthy and capable colleagues and collaborators.
    #65533; Learn how to identify and avoid investments with inherent flaws.
    #65533; Always search for bargains, and never forget that the first responsibility of an investor is to identify mispriced stocks.

    Patience and methodical planning will pay far greater dividends than flashy investments. Tillinghast teaches readers how to learn from their mistakes--and his own, giving investors the tools to ask the right questions in any situation and to think objectively and generatively about portfolio management.

  • Financial institutions management : FINA 481
    HG 185 C2 S29 2016

  • Multi national corporation - MNC - : Shapiro 2016 / author Alan C. Shapiro ; instructor, edition for Prof. Jassim
    HG 4027.5 S57 2017

  • Financial decisions and markets : a course in asset pricing / John Y. Campbell
    HG 4636 C36 2018

    From the field's leading authority, the most authoritative and comprehensive advanced-level textbook on asset pricing

    In Financial Decisions and Markets , John Campbell, one of the fields most respected authorities, provides a broad graduate-level overview of asset pricing. He introduces students to leading theories of portfolio choice, their implications for asset prices, and empirical patterns of risk and return in financial markets. Campbell emphasizes the interplay of theory and evidence, as theorists respond to empirical puzzles by developing models with new testable implications. The book shows how models make predictions not only about asset prices but also about investors financial positions, and how they often draw on insights from behavioral economics.


    After a careful introduction to single-period models, Campbell develops multiperiod models with time-varying discount rates, reviews the leading approaches to consumption-based asset pricing, and integrates the study of equities and fixed-income securities. He discusses models with heterogeneous agents who use financial markets to share their risks, but also may speculate against one another on the basis of different beliefs or private information. Campbell takes a broad view of the field, linking asset pricing to related areas, including financial econometrics, household finance, and macroeconomics. The textbook works in discrete time throughout, and does not require stochastic calculus. Problems are provided at the end of each chapter to challenge students to develop their understanding of the main issues in financial economics.


    The most comprehensive and balanced textbook on asset pricing available, Financial Decisions and Markets is an essential resource for all graduate students and practitioners in finance and related fields.



    Integrated treatment of asset pricing theory and empirical evidence
    Emphasis on investors decisions
    Broad view linking the field to financial econometrics, household finance, and macroeconomics
    Topics treated in discrete time, with no requirement for stochastic calculus
    Solutions manual for problems available to professors

  • The emotional life of money : how money changes the way we think and feel / Mary Cross
    HG 222.3 C76 2017

    This fascinating book illustrates how human behavior regarding money is triggered by emotion and powered by our psychic makeup, empowering readers to better understand their own behavior and decision making with money.

    * Provides unique insights into the emotional/psychological side of money and discusses how money affects the way we think and behave

    * Examines how human emotion on an individual level influences much larger economic cycles of boom and bust

    * Includes worksheets and quizzes to help readers determine their own Money Script and how it was "written" in their own family

    * Identifies the differences commonly seen between men and women in money attitudes and money management


  • Ethical asset valuation and the good society / Christian Gollier
    HG 4523 G655 2018
    For all of their focus on asset prices, financial economists rarely ask if assets are priced ethically --that is, if their prices are compatible with the public good. Yet in a world facing major, possibly catastrophic problems--global warming, for instance, and growing inequality--it is now more important than ever that we allocate capital to projects that will benefit society as a whole, not just today but far into the future. In this book, Christian Gollier develops a powerful method for transforming our societal goals of collective prosperity into the cornerstone of our financial decision making.

    Ethical Asset Valuation and the Good Society starts by stating transparent moral principles and, from these, derives simple rules that can be used to evaluate saving and investment decisions in terms of the public good. Rather than trying to explain observed asset prices, Gollier derives what these prices ought to be in order to direct capital toward socially desirable investments. He focuses especially on the two prices that drive most financial decisions--the price of time as reflected in the interest rate and the price of risk--and explores the role these play in our long-term planning. If investment projects in renewable energy could be financed at a lower interest rate than those linked to fossil fuels, for instance, the energy transition would be easier to accomplish. Building on criticism of the short-term thinking of financial markets, Gollier suggests ways to shift investment toward the future through the discounting of the valuation of assets and investments with long-term benefits. In this sophisticated but accessible work, Gollier builds a bridge between welfare economics and finance theory to provide a framework for ethical valuation capable of establishing what asset prices should be on the basis of our shared moral values.
page last updated on: Monday 22 January 2018
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