経済学 — 全 下位分類

This book examines the business models, performance, and decision-making approaches employed by financial institutions in Central and Southeast Europe. The respective contributions cover a wide range of industries, including banking, pharmaceuticals, and airline business services, and present both theoretical and empirical studies that highlight economy-wide risks and opportunities for European companies.

The book is divided into four parts, the first of which provides a critical assessment of the competitiveness and performance of European companies, while the second examines decision-making approaches at financial institutions; the third and fourth parts address the macroeconomic risks and opportunities for business development in Europe. Intended for scholars, political decision-makers, and practitioners, the book offers new perspectives on Central and Southeast European financial and business research.

Explores how the financial industry will be affected by developments in blockchain and cryptocurrencies at the dawn of a new digital age in finance?

Our financial system is in the midst of a digital revolution. Blockchain, viewed by many experts as "the most important invention since the Internet," has changed the way we exchange value and information. Although most people are aware of Bitcoin and other cryptocurrencies, few understand how security tokens-digitized forms of traditional ownership certificates-can drive blockchain to reach its fullest potential by offering investors features and innovations that are simply not possible with paper certificates.

Digital Finance: Security Tokens and Unlocking the Real Potential of Blockchain explains how the integration of blockchain and security token technology will transform the current financial infrastructure and radically improve efficiency, transparency, and security. Using clear language and an easy-to-follow framework, author Baxter Hines draws upon his decades' experience in the financial industry to address how the digitization of assets will drive cost reductions, enhance flexibility, and pave the way for new business models and revenue streams for years to come. Filled with real-world case studies and expert insights on the latest opportunities and trends, such as the COVID-19 pandemic's role in accelerating the adoption of blockchain, this must-have resource:

• Shows how blockchain and distributed ledger technology are disrupting the financial industry
• Explains what security tokens are and why they are the next major breakthrough for investing
• Highlights how blockchain technology has created new and more efficient ways of fund raising and investing
• Identifies the ways companies like IBM, Fidelity Investments, and AXA are deploying blockchain and tokenized solutions
• Describes how assets only available to institutional investors could become marketed to the mainstream
• Discusses the impact that security tokens will have on real assets such as stocks, real estate, bonds, and derivatives
• Provides insight into how central banks around the world are embracing blockchain and beginning to issue digital currencies

Digital Finance: Security Tokens and Unlocking the Real Potential of Blockchain is essential reading for financial professionals, general investors, finance and technology students, regulators, legal professionals, and users of cryptocurrency and blockchain technology.

Sustainable investing is a rapidly growing and evolving field. With investors expressing ever greater interest in environmental, social, and governance (ESG) metrics and reporting, companies face a sustainability imperative and the need to remake their business models to respond to an array of pressing issues including climate change, air and water pollution, racial justice, workplace diversity, economic inequality, privacy, corporate integrity, and good governance. From equities to fixed income and from private equity to impact-investing, investors of all kinds now want to understand which companies will be marketplace leaders in a business future redefined by sustainability. Thus, investment strategies, risk models, financial vehicles, applications, data, metrics, standards, and regulations are all changing rapidly around the world.

The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP).

Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.

What are the grand dynamics that drive the history of economies? The laws of supply & demand, most economists would argue. For the history of European banking, this book offers an alternative explanation: Rather than market forces, the coincidence and coalitions of charismatic ideas and powerful interests is what shaped banking in Europe! In "Ideas, Interests and the Development of the European Banking Systems", Florian Brugger traced decisive moments in the history of the European Banking Sector: from the time of the Italian City-States to the post World War I period, he shows how coalitions of ideas and interests built the tracks along which the European Banking Sector developed.

Inspired by Max Weber he argues that economic organizations and institutions, like the Banking Sector, are embedded into three fundamental orders: the economic, the cultural and the political order. Enforced and institutionalized by vested interests, ideas of the cultural order legitimate and empower interests of the economic and political order. What is more, decisive moments were frequently characterized by coalitions of ideas and interests between parties that in normal times had nothing in common or were even confronting each other in a hostile way.

Integral Investing incorporates and transcends the best practices of both traditional venture capital and impact investing. It provides a seamless integration and shows how technological progress need not be our rival, but can instead be our ally in ensuring the prosperous society we all want. Drawing on her own investments and stellar track record since 1995, the author reveals themechanism of Integral Investing. At the heart of it is a powerful, 360-degree de-risking tool called the Theta Model, which reveals how to make smart investment decisions based on the comprehensive integration of traditional due-diligence criteria, sustainability metrics, and assessments of the founders' and team culture. But it doesn't stop there.

In turn, this handbook demonstrates how to use human-centered AI to scale and digitalize the investment process. The goal here is to accelerate the use of exponential tech, capital, and consciousness leadership to transition to a sustainable global society: a process the author refers to as the Investment Turnaround. The 21 principles of Integral Investing, which she defines using Ken Wilber's Integral Theory, lead to her manifesto on how to implement the UN Sustainable Development Goals within Planetary Boundaries by 2050 through early-stage investing and entrepreneurship.

Accounting and Debt Markets: Four Pieces on the Role of Accounting Information in Debt Markets provides novel and up-to-date evidence on the role of accounting information in debt markets

Companies and organisations worldwide rely heavily on debt markets for short, medium and long-term financing, and debt markets and financial intermediaries have significant effects on the real economy. Accounting information has various functions in debt markets, including inter alia, informing pricing decisions and credit ratings, determining the allocation of creditor control rights and establishing bank capital adequacy requirements. The chapters in this book provide illustrative discussion, analysis and evidence on the importance of accounting information in credit markets. The first of the four pieces reflects on how a conservative financial reporting system helps firms obtain debt funds and with better conditions, and why this is the case. The second examines the effects of accounting disclosure on credit ratings of private companies and shows that accounting information is useful for credit rating agencies. The two final pieces reflect on how banks should account for credit losses, and on how regulators are tackling this issue.

The chapters in this book were originally published as a special issue of Accounting and Business Research.

The ramifications of the Global Financial Crisis, which erupted in 2007, continue to surprise not only the general public but also finance professionals, economists, and journalists. Faced with this challenge, Preparing for the Next Financial Crisis goes back to basics. The authors ask: what do theory and empirical observations tell us about the causes and the consequences of financial crisis and instability? In what has become an increasingly complex financial world, what lessons can we learn from economic policies, which have been implemented, and research, which has developed extremely rapidly in recent years, so as not to repeat past mistakes?

In this comprehensive review of the literature, which is both complete and balanced, the authors highlight the points of consensus among economists and policymakers. They assess the capacity of economic policies and institutions in limiting the cost of financial instability. In conclusion, they ask if the financial system has become safer, in the light especially of the Covid-19 Global Crisis. Ten years after the GFC crisis, this is a timely review of the reform agenda, the progress made, and the areas where further changes need to be made to address new risks and challenges.

This book explores how ethics and the moral context of business have evolved

historically in inf luential management theories and concepts. It looks at how

managerial thought accommodates morality, values, and ethics and demonstrates

the emerging patterns of ethical conduct to illustrate how moral aspects

of management and organizational practice can become peripheral.

The author examines a diverse range of data sources such as the most seminal

books in management and academic papers published in the mainstream

academic literature. The readings selected in the process are subject to critical

analysis and are complemented by an exploratory study of the financial services

industry, based on semistructured in-depth interviews. The uniqueness of the

proposed approach comes first from the consolidation of many perspectives

such as management, organization studies, and business anthropology rather

than focusing on one particular subdiscipline; second, from using a mixed

methodology, combining literature reviews with empirical, exploratory research

based on interviews; and third from including a narrative context in the

analysis and proposed future theory framework.

This book will appeal to students, researchers, and scholars who teach ethics

in the fields of economics or business. It is useful for advancing theory and

research on moral management and as a resource for management practitioners

looking to create business practices fostering moral sensitivity. Those interested

in setting future development directions may also find the proposed

consolidation of theoretical and empirical evidence valuable for the design of

future policies.

It is said that the COVID-19 pandemic has turned back the poverty clock. As such, there is a need to have social mechanisms put in place to provide relief to those who are affected in this regard. Islamic social finance consists of tools and institutions that could be used to alleviate poverty. This book explores the impact of COVID-19 on Islamic finance to better understand the effectiveness of Islamic social finance in helping those who have been affected by poverty overnight due to the halt in all major economic activities in the context of the pandemic.

Since the struggle against poverty in each country will be different, the book attempts to shed light on the experiences of different countries by presenting successful models of Islamic social finance. The book first looks at poverty and COVID-19 before delving into the role of Islamic social financial institutions and how they have risen against COVID-19. The book concludes by examining the impact of COVID-19 on Islamic microfinance.

This book is the first of its kind on the subject of COVID-19, and it intends to bridge the gap in the literature.

This book provides an approach to sustainable decision-making rooted in financial and economic literature. Financial economic techniques have the power to frame the discussion of sustainability to explain who, how, and why sustainability is a growing phenomenon in business and investing. Financial concepts in a sustainable framework provide a theoretical basis to approach research and business questions on sustainability. The framework provides for a better understanding of the different definitions of sustainability and the role those differences have on decisions that will lead to the future of sustainable business. A future which relies on growth driven by expanding its markets' reach (demographics), its innovation or creation of new products, and its capital structure (leverage). Third party certification and governmental regulation become the constraints on that growth as well as the proof of sustainable growth. Finally, the ability and methods for investors to support sustainable growth is addressed in a modern portfolio theory analysis.

Compliance is a fundamental control function within regulated industries globally. This book provides an expert introduction to corporate compliance using cases, examples and insights from the financial services sector and beyond.

The author, an experienced compliance practitioner and academic, highlights compliance challenges, using examples such as Wells Fargo, whistleblowing in the financial services and the mis-selling of payment protection insurance in the UK banking sector. The book explores strategies for creating compliant cultures and fostering regulatory trust, whilst practical guidance is provided on anticipating regulatory changes. Addressing organisational obstruction and delay, the author presents a series of valuable tools and techniques for real-world practice.

An essential professional development resource for board directors, compliance officers and other senior managers, the book also provides a unique learning and development resource for students of corporate compliance globally.

Comprehensive coverage of all major structured finance transactions

Structured Finance is a comprehensive introduction to non-recourse financing techniques and asset-based lending. It provides a detailed overview of leveraged buyouts, project finance, asset finance and securitisation.

Through thirteen case studies and more than 500 examples of companies, the book offers an in-depth analysis of the topic. It also provides a historical perspective of these structures, revealing how and why they were initially created. Instruments within each type of transaction are examined in detail, including Credit Default Swaps and Credit Linked Notes. A presentation of the Basel Accords offers the necessary background to understand the regulatory context in which these financings operate.

With this book, readers will be able to:

• Delve into the main structured finance techniques to understand their components, mechanisms and how they compare
• Understand how structured finance came to be, and why it continues to be successful in the modern markets
• Learn the characteristics of financial instruments found in various structured transactions
• Explore the global context of structured finance, including the regulatory framework under which it operates

Structured Finance provides foundational knowledge and global perspective to facilitate a comprehensive understanding of this critical aspect of modern finance. It is a must-read for undergraduate and MBA students and finance professionals alike.

Tackle infrastructure development projects in emerging markets with confidence

In Project Finance: Applications and Insights to Emerging Markets Infrastructure, distinguished professor and author Paul Clifford insightfully applies the fundamental principles of project finance structuring to infrastructure investments in emerging markets.

Using leading emerging market case studies to illuminate the underlying themes of the book, the author provides a practitioner's perspective and incisive analysis of concepts crucial to a complete understanding of project finance in emerging markets, including:

? Risk management

? ESG and impact investing

? The emergence of new global multilateral development banks

? China's Belt and Road Initiative

Project Finance bridges the gap between theoretical infrastructure development, investment, and finance and the implementation of that theory with instructive and applicable case studies. Throughout, the author relies on a grounded and quantitative approach, combining the principles of corporate finance with straightforward explanations of underlying technologies, frameworks, and national policies.

This book is an invaluable resource for undergraduate and graduate students in finance, as well as professionals who are expected to deal with project and infrastructure finance in emerging markets.

It is essential all auditors performing Yellow Book audits understand the recently revised concepts and standards of generally accepted government auditing standards (GAGAS). This book provides a baseline of information for accountants to gain an understanding of the new Yellow Book (2018 revision of Government Auditing Standards).

Featuring new guidance related to independence and peer review, this book will increase your knowledge of the requirements and application guidance related to:

• Ethics
• Independence
• Standards for financial audits
• Attestation engagements
• Performance audits

Key topics covered include:

• Foundation and principles for the use and application of generally accepted government auditing standards (GAGAS)
• General requirements for complying with the Yellow Book
• Ethics, independence, and professional judgment
• Competence and continuing professional education
• Quality control and peer review
• Standards for financial audits
• Standards for attestation engagements and reviews of financial statements
• Fieldwork standards for performance audits
• Reporting standards for performance audits

Explains the mathematics, theory, and methods of Big Data as applied to finance and investing

Data science has fundamentally changed Wall Street-applied mathematics and software code are increasingly driving finance and investment-decision tools. Big Data Science in Finance examines the mathematics, theory, and practical use of the revolutionary techniques that are transforming the industry. Designed for mathematically-advanced students and discerning financial practitioners alike, this energizing book presents new, cutting-edge content based on world-class research taught in the leading Financial Mathematics and Engineering programs in the world. Marco Avellaneda, a leader in quantitative finance, and quantitative methodology author Irene Aldridge help readers harness the power of Big Data.

Comprehensive in scope, this book offers in-depth instruction on how to separate signal from noise, how to deal with missing data values, and how to utilize Big Data techniques in decision-making. Key topics include data clustering, data storage optimization, Big Data dynamics, Monte Carlo methods and their applications in Big Data analysis, and more. This valuable book:

• Provides a complete account of Big Data that includes proofs, step-by-step applications, and code samples
• Explains the difference between Principal Component Analysis (PCA) and Singular Value Decomposition (SVD)
• Covers vital topics in the field in a clear, straightforward manner
• Compares, contrasts, and discusses Big Data and Small Data
• Includes Cornell University-tested educational materials such as lesson plans, end-of-chapter questions, and downloadable lecture slides

Big Data Science in Finance: Mathematics and Applications is an important, up-to-date resource for students in economics, econometrics, finance, applied mathematics, industrial engineering, and business courses, and for investment managers, quantitative traders, risk and portfolio managers, and other financial practitioners.

The banking and financial landscape has been inundated with technology over the last decade, with FinTech, InsurTech and RegTech being just some of the new applications within finance. In the Gulf Cooperation Council (GCC), FinTech is yet to -find its feet despite several digital transformation drives initiated by the regional governments in the UAE and Bahrain. In comparison to conventional -finance, the use of FinTech within Islamic financial institutions (IFIs) in GCC countries is still in its very early stages. However, the potential disruption that technology may cause for the Islamic -finance sector within this region cannot be underestimated. Aiming to highlight, examine and address key strategic, operational and regulatory issues facing IFIs as they make an effort to keep up with the FinTech revolution, this book explores the market positioning, product structure and placement, delivery channels and customer requirements within the GCC market. The authors evaluate thecurrent situation and look forward to future regulation surrounding technology and financial institutions within the GCC. Scholars and students researching Islamic finance and financial technology will find this book an insightful and valuable read, as well as those interested in international finance more generally.