Empirical Techniques in Finance (Springer Finance)

Book Description

The rapid advances in financial technology in the past decade have led to a commensurate increase in sophistication for modelling techniques needed by the researchers for the understanding of financial markets. The book aims at equipping graduate students, market analysts and others with a wide range of empirical techniques. It not only discusses the analytical structures behind such modelling approaches, but also explains how they are applied to actual data. Besides traditional elements of financial econometrics and statistical techniques commonly used in quantitative finance, the book covers: estimation of parametric and non-parametric models; advanced tools to deal with unobserved components; discrete time models of asset prices and of interest rates. Illustrations include speculative equity prices, equity and currency risk premium as well as real investment opportunity analysis and interest rate contingent claim valuation.

Customer Reviews:

A catalog not a textbook.......2007-01-30

I am dissapointed; this textbook is really a catalog of methods that are available in empirical finance. It's useful to have them all listed and described in one slim volume, but it does not qualify as a textbook. You cannot learn from this. Instead, try Ruey Tsay's expensive but brilliant text on financial time series, suitable for Masters, possibly advanced undergraduates, but useful for PhDs too.

Firms' Investment and Finance Decisions: Theory and Empirical Methodology (Ina Association with the National Bank of Belgium)

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Firms' Investment and Finance Decisions: Theory and Empirical Methodology (Ina Association with the National Bank of Belgium)

Manufacturer: Edward Elgar Publishing
ProductGroup: Book
Binding: Hardcover

Money & Monetary Policy | Economics | Business & Investing | Subjects | Books

Corporate Finance | Finance | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

General | Investing | Business & Investing | Subjects | Books

All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books
ASIN: 1843763990

Book Description

This book provides coherent theoretical and empirical analysis of firms' investment and financing decisions. It assesses the role of uncertainty, financial imperfections, corporate governance and taxation. Evidence is obtained using several unique and high quality microeconomic data-sets which explore features seldom addressed.

Overall, the empirical results confirm theoretical precedents. Some firms are indeed financially constrained, for fixed investment as well as for R&D projects. The `free cash-flow' hypothesis holds that managers divert excess funds away for their own interests, but less so in closely controlled companies. In accordance with the real option theory, the results suggest that uncertainty leads firms to adopt a `wait and see' strategy which eventually reduces investment, especially for irreversible investment. Corporate governance features are shown to affect managers, discipline and companies' restructuring plans. Finally, different tax reforms are evaluated, and an alternative tax structure that would stimulate growth is proposed.

Book Description

Taking an interdisciplinary approach, this volume focuses on the trust processes between people within organizations, with an emphasis on empirical studies.

Rational foundations and psychological motivations for trust are taken into account through conceptual and empirical chapters. The authors begin by summarizing a number of key elements from the literature, including how trust develops in time and how its development is affected by social-psychological phenomena. This includes the notion of `framing': the interpretive context in which actions are perceived and evaluated. A conceptual framework is then used to analyze trust and power in the internal relationships of the organization. The contributors take up this issue in an evolutionary analysis of competition between trust and cheating. The conditions for trust in teams, in terms of type of task and team composition are examined, and the effects on trust of different types of leadership are studied. In the concluding chapters, the relation between the control imposed by an expert system and the influence of users is analyzed, and the relational signaling perspective is used for a study of norm violation and sanctioning, which in turn is used to analyze trust and trouble.

Trust within and between Organizations: Conceptual Issues and Empirical Applications
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Trust within and between Organizations: Conceptual Issues and Empirical Applications

Manufacturer: Oxford University Press, USA
ProductGroup: Book
Binding: Paperback

Strategy & Competition | Management & Leadership | Business & Investing | Subjects | Books
Industrial | Management & Leadership | Business & Investing | Subjects | Books
Communications | Skills | Business & Investing | Subjects | Books
General | Organizational Behavior | Business & Investing | Subjects | Books
General | Business & Investing | Subjects | Books
Ethics | Business Life | Business & Investing | Subjects | Books
General | Social Sciences | Nonfiction | Subjects | Books
Social Situations | Sociology | Social Sciences | Nonfiction | Subjects | Books
All Titles | Qualifying Textbooks - Fall 2007 | Stores | Books
Business & Investing | Qualifying Textbooks - Fall 2007 | Stores | Books
Nonfiction | Qualifying Textbooks - Fall 2007 | Stores | Books
Similar Items:

Trust and Distrust in Organizations: Dilemmas and Approaches (The Russell Sage Foundation Series on Trust)

Trust in Organizations: Frontiers of Theory and Research

The Problem of Trust

Cooperation Without Trust? (The Russell Sage Foundation Series on Trust)

Distrust (Russell Sage Foundation Series on Trust, Vol. 8)

ASIN: 0199240442

Book Description

In the current turbulent business environment, there is a premium on trust. It has become a much desired resource in business organizations, but at the same time it has remained a very elusive idea. How to build and preserve trust, how to cope with opportunism and distrust, and how they affect organizational performance are crucial problems. This original book is the first to offer a wide-ranging study of trust within and between organizations from the perspective of several social and management sciences. The specially commissioned contributionsmany from well-known expertscombine theoretical analysis of problems around trust with empirical study in a range of different organizations in contexts such as China, Japan, India, the US, as well as several European countries. The many issues covered by the book include the relationship between trust and power, trust and law, how to build trust where there was previously none, the impact of trust on performance, and the fragility of trust in different societal contexts. The wide theoretical scope, together with the range of organizational settings and the rich empirical detail of behaviour around trust and opportunism, make this an important and instructive volume.

Are forecasts of corporate profits rational? A note and further evidence [An article from: Journal of Empirical Finance]

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Are forecasts of corporate profits rational? A note and further evidence [An article from: Journal of Empirical Finance]
A.M. El-Galfy , and W.P. Forbes
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital

Elsevier | By Publisher | e-Docs | Formats | Books
ASIN: B000RQZVOW

Book Description

This digital document is a journal article from Journal of Empirical Finance, published by Elsevier in 2004. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
This paper revisits the claim by Keane and Runkle [J. Polit. Econ. 106 (1998) 768] that analyst forecasts of corporate profits may be rational, despite claims to the contrary by De Bondt and Thaler [Am. Econ. Rev. 80 (1990) 52] and others. We replicate the Keane and Runkle's [J. Polit. Econ. 106 (1998) 768] research method and test some of the underlying assumptions in their modelling strategy. Specifically, we examine two key assumptions, the independence of forecast errors across time and the failure of forecast errors to spillover industrial boundaries. We find strong evidence of autocorrelation and interindustry forecast error spillovers. Our findings prompt us to extend Keane and Runkle's tests to a revised General Method of Moments (GMM) estimate of model parameters as well as standard errors. Our revised GMM estimates employ two instruments designed to capture the impact of autocorrelation and spillover effects. These revised estimates suggest analyst forecasts of earnings are not rational with respect to publicly available information.

Corporate cash holdings: An empirical investigation of UK companies [An article from: Journal of Banking and Finance]

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Corporate cash holdings: An empirical investigation of UK companies [An article from: Journal of Banking and Finance]
A. Ozkan , and N. Ozkan
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital

Elsevier | By Publisher | e-Docs | Formats | Books
ASIN: B000RR1208

Book Description

This digital document is a journal article from Journal of Banking and Finance, published by Elsevier in 2004. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
This paper investigates the empirical determinants of corporate cash holdings for a sample of UK firms. We focus on the importance of managerial ownership among other corporate governance characteristics including board structure and ultimate controllers of companies. We present evidence of a significant non-monotonic relation between managerial ownership and cash holdings. In addition, we observe that the way in which managerial ownership exerts influence on cash holdings does not change with board composition and, in general, the presence of ultimate controllers. The results reveal that firms' growth opportunities, cash flows, liquid assets, leverage and bank debt are important in determining cash holdings. Our analysis also suggests that firm heterogeneity and endogeneity are crucial in analysing the cash structure of firms.

Corporate governance, shareholder rights and firm diversification: An empirical analysis [An article from: Journal of Banking and Finance]

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Corporate governance, shareholder rights and firm diversification: An empirical analysis [An article from: Journal of Banking and Finance]
P. Jiraporn , Y.S. Kim , W.N. Davidson , and M. Singh
Manufacturer: Elsevier
ProductGroup: Book
Binding: Digital

Elsevier | By Publisher | e-Docs | Formats | Books
ASIN: B000RR6MZ8

Book Description

This digital document is a journal article from Journal of Banking and Finance, published by Elsevier in . The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
Grounded in agency theory, this study investigates how the strength of shareholder rights influences the extent of firm diversification and the excess value attributable to diversification. The empirical evidence reveals that the strength of shareholder rights is inversely related to the probability to diversify. Furthermore, firms where shareholder rights are more suppressed by restrictive corporate governance suffer a deeper diversification discount. Specifically, we document a 1.1-1.4% decline in firm value for each additional governance provision imposed on shareholders. An explicit distinction is made between global and industrial diversification. Our results support agency theory as an explanation for the value reduction in diversified firms. The evidence in favor of agency theory appears to be more pronounced for industrial diversification than for global diversification.

Corporate Governance: Theoretical and Empirical Perspectives

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Corporate Governance: Theoretical and Empirical Perspectives

Manufacturer: Cambridge University Press
ProductGroup: Book
Binding: Paperback

General | Popular Economics | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

Industrial | Management & Leadership | Business & Investing | Subjects | Books

Leadership | Management & Leadership | Business & Investing | Subjects | Books

Management | Management & Leadership | Business & Investing | Subjects | Books

Entrepreneurship | Small Business & Entrepreneurship | Business & Investing | Subjects | Books
ASIN: 0521032032

Book Description

Corporate governance is an active area of research and public debate. The recent generalization of "shareholder value" ideas and institutional investment, the establishment of codes of best practice for boards of directors, and the controversy about whether market oriented or bank/relations oriented systems are better for economic performance provide cogent examples. The volume takes stock of the most recent research in the topic, criticizes the standard agency view, and presents new ideas and analysis about the role of competition, the political economy of corporate governance, and the effects of different systems on growth and performance.

Earnings Measurement, Determination, Management, and Usefulness: An Empirical Approach

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Earnings Measurement, Determination, Management, and Usefulness: An Empirical Approach
Ahmed Riahi-Belkaoui
Manufacturer: Quorum Books
ProductGroup: Book
Binding: Hardcover

Corporate Finance | Finance | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books

All Amazon Upgrade | Amazon Upgrade | Stores | Books

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Professional & Technical | Amazon Upgrade | Stores | Books
ASIN: 1567203302

Book Description

Riahi-Belkaoui examines the crucial issues involved in the determination and uses of earnings as a measure of financial performance. He points out that the nature and measurement of earnings are subject to various interpretations, that determination of earnings follows determination of net value added, and that earnings is subject to management manipulation (earnings can be "smoothed," for example.) A succinct, penetrating, illuminating treatment of earnings in general as well as its particulars, the book will be especially useful to upper management and accounting professionals, and to their colleagues in the academic community. Riahi-Belkaoui argues that the interest in earnings and its related issues of measurement, determination, management, and usefulness stems from three factors: 1) the crucial importance of earnings as the shareholders' share of the corporation's wealth; 2) the reliance of investors and users on earnings and the transformation of earnings for resource allocation decision making; and 3), the direct association between the efficiency of the capital markets and timely provision of earnings data. Each chapter identifies the nature of the issues surrounding the concept of earnings and presents empirical evidence that can be used to make enlightened corporate decisions or to aid in the development of public policy.

An empirical analysis of the choice of payment method in corporate acquisitions during 1980 to 1990.: An article from: Quarterly Journal of Business and Economics

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An empirical analysis of the choice of payment method in corporate acquisitions during 1980 to 1990.: An article from: Quarterly Journal of Business and Economics
Walter J. Mayer , and M. Mark Walker
Manufacturer: University of Nebraska-Lincoln
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Book Description

This digital document is an article from Quarterly Journal of Business and Economics, published by University of Nebraska-Lincoln on June 22, 1996. The length of the article is 7243 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: An empirical analysis of the choice of payment method in corporate acquisitions during 1980 to 1990.
Author: Walter J. Mayer
Publication: Quarterly Journal of Business and Economics (Refereed)
Date: June 22, 1996
Publisher: University of Nebraska-Lincoln
Volume: v35 Issue: n3 Page: p48(16)

Distributed by Thomson Gale

Book Description

This video contains 19 video clips of CNN broadcasts related to real-life legal and business news. The clips directly correlate to chapter and unit content, and allow the teacher an opportunity to introduce real-life, applicable material into their students' study of law and business. A discussion guide is also provided to help guide the teacher and initiate classroom discussion and enthusiasm.

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Cnn Law for Business and Personal Use
Adamson
Manufacturer: South-Western Pub
ProductGroup: Book
Binding: Hardcover

General | Business & Investing | Subjects | Books

Business Law | Reference | Business & Investing | Subjects | Books

The Art of Management: Insights from an Employee's Perspective
Average customer rating:

Blows "Who Moved the Cheese" out of the water !!!!!

It's about time

The Art of Management

A good read!

A real eye-opener

The Art of Management: Insights from an Employee's Perspective
Gregory J. Blencoe
Manufacturer: Mount Olympus Publishing.
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books
Human Resources & Personnel Management | Industries & Professions | Business & Investing | Subjects | Books
Management | Management & Leadership | Business & Investing | Subjects | Books
Motivational | Management & Leadership | Business & Investing | Subjects | Books
ASIN: 0967589304

Book Description

Everyday, managers ponder such questions as: *Why are my employees so unmotivated? *Why is my business underachieving? *Why do my employees care so little about the success of the company?

The Art of Management: Insights from an Employee's Perspective by Gregory J. Blencoe, the self-proclaimed "greatest management book in the history of the world", was created to answer these questions and is the key to unlocking the mystery of how to motivate employees. The book gives managers a "behind the scenes" look at all of the ineffective methods they are utilizing and shows them the right way to manage employees in order to maximize their productivity. The author has worked for elite managers who should be enshrined on Mount Olympus and has also worked for pathetic, ineffective managers who would be first-class citizens in a managerial Hades. The experiences gained from this perspective are the driving force behind a wealth of insightful material.

The Art of Management stands out with its style of writing. The book is written in a clear and concise manner. Quite simply, quality was chosen over quantity. Simple words were utilized instead of having a lot of technical jargon. The common manager will be able to read this book with ease. The Art of Management also adds a little flair to this potentially boring subject. The writing is passionate, includes some humor, and contains a lot of poignant examples.

The author graduated magna cum laude from the Indiana University School of Business. This is his first book and he is currently a resident of Littleton, Colorado.

Customer Reviews:

Blows "Who Moved the Cheese" out of the water !!!!!.......2001-02-27

Greg Blencoe has written a book that all of us "worker bees" applaud. He "gets it" and this book should be bought by all corporations and given out in box loads to their management!!!!(Dilbert would approve...) This book is sensible, practical and has a sensitivity that is so grossly needed by management in this day and age. This book has much more substance than "THE CHEESE BOOK , a book I was personally offended by. The "Cheese Book"is a simplistic, insensitive view and seems to make light of a somewhat complex problem.This book's main theme really has to do with treating people with respect and how you would want to be treated.(We learned this in Kindergarten but obviously need to be reminded!) This book should be on the best seller list in place of Mr. Mouse looking for his cheese.Great going and best wishes to Mr. Blencoe. I would personally work for him in a minute!!A Fan: CA

It's about time.......2000-03-21

Mr. Blencoe has produced, in my opinion, the most effective tool for the business manager that I have encountered in the twelve years that I have been in management. This tool will help any level of management build a strong connection between leadership and the success that follows, if the manager is willing to read with an open mind and have the desire to try what most others have overlooked.

Mr. Blencoe covers all the bases by starting with the foundation of any company - it's empoyees. Reading his book reminded me of the years that I spent as a regular employee, and how I wanted to be, if I were ever able to climb that corporate ladder. Mr. Blencoe reminds us to never forget how important our employees are, and that they can make you or break you with every transaction they encouter. Also, his ideas on proffit sharing and employee motivation are innovative and well thought out. Reading this book actually left me wondering, "why didn't I think of that?"

I recommend this book to anyone who wants to succeed as a manager, whether you are a Fortune 500 CEO or the store manager of a local pizza parlor. There are a lot of books out there that make claims of having the power to unlock your business's potential. It's about time someone has finally written one, and his name is Gregory J. Blencoe.

The Art of Management.......2000-03-15

Having been in the business world for nearly 30 years, in a high level position, I have made the mistake in my belief that I know it all and that managements ideas for a company are always the best way. We tend to forget what makes our company go.. Its the employees. I really found Mr. Blencoe's book refreshing and enlightening. In many ways our biggest assets, our employees, are overlooked. Mr Blencoe has given us a new look into this from their perspective and I wish I had read this book 20 years ago. There are many books of this type that push the same old tired ideas from managements point of view. This one is different and I highly recommend it for any manager who needs a refresher course in postive management. I felt good when I finished this book and I hope it has made me a better "boss". Who says you can't teach an old dog new tricks? Mr. Blencoe has taught this old dog something new.

A good read!.......2000-03-15

This book is very informative and easy to read. I highly recommend it! It contains valuable insights on the factors that motivate employees to perform their job-related activities with energy, enthusiasm and dedication.

A real eye-opener.......2000-03-15

I LOVED IT!

Thank you so much for writing this book. It only took me a weekend. I was fascinated from the start. I wanted to read it, because I have just been recently promoted to a management position and I didn't feel I was being very effective. This book taught me a lot of things, but the most important was that I realized that I need to remember what it felt like to be managed. I liked the tone of the book with it's borderline "Well DUH" attitude. It really made me stop and think.

The Meatless Gourmet: Favorite Recipes from Around the World
Average customer rating:

Excellent cookbook!

fantastic

Best Vegetarian Cookbook!!!

Recommended by an unreconstructed carnivore

Great vegetarian cooking for the real world!

The Meatless Gourmet: Favorite Recipes from Around the World
Bobbie Hinman
Manufacturer: Prima Lifestyles
ProductGroup: Book
Binding: Plastic Comb

General | Baking | Cooking, Food & Wine | Subjects | Books
General | Cooking, Food & Wine | Subjects | Books
General | Quick & Easy | Cooking, Food & Wine | Subjects | Books
International | Regional & International | Cooking, Food & Wine | Subjects | Books
General | Vegetables & Vegetarian | Cooking, Food & Wine | Subjects | Books
Similar Items:

The Vegetarian Gourmet's Easy International Recipes

The Vegetarian Gourmet's Easy Low-Fat Favorites

ASIN: 1559585595
Release Date: 1994-09-19

Book Description

Bobbie Hinman has done it again. For the growing number of people who know the health benefits of meatless meals, Bobbie offers The Meatless Gourmet: Easy Lowfat Favorites to her long list of healthful cookbooks. Not only for vegetarians, this cookbook is for health-conscious people who want to enjoy meatless meals, whether occasionally or every day.

Bobbie’s newest cookbook offers over 300 healthful recipes using whole grains, fresh fruits and vegetables, and a variety of legumes. There are soups, salads, main dishes, breads, desserts, and beverages—something to please every palate.

Each recipe provides an at-a-glance nutritional breakdown that includes calories, protein, carbohydrates, sodium, fat content, and cholesterol. Here are just of few of the hundreds of creative and delicious dishes included:

• Cinnamon-Raisin Beer Bread
• Pinto Burrito Pie
• Fabulous Berry Party Trifle
• Iced Maple Coffee Float

Bobbie answers such questions as: “How much fat should I eat?” “How much fiber do I need, and how do I add it to my meals?” and “Will I get enough protein?” All of this and much more makes The Meatless Gourmet: Easy Lowfat Favorites a valuable addition to any cook’s collection.

About the Author

Bobbie Hinman is the author of The Meatless Gourmet: Favorite Recipes from Around the World, Oat Cuisine, and co-author of the bestselling Lean and Luscious series (all from Prima). She is a cooking instructor and nutritional speaker; she lives in Delaware with her husband Harry.

Customer Reviews:

Excellent cookbook!.......2005-08-04

I recently bought this book and I love it! The recipes are healthy and taste great! Even my husband who is not vegetarian loves them. I made several dishes and all were excellent. I am so looking forward to trying all the recipes. Buy this book, you wont regret it!

fantastic.......2005-07-07

The best thing about this cookbook is it is so easy! The ingredients are readily available (which is not always the case with vegetarian cookbooks). Meals are easily and quickly made and really really good.

Best Vegetarian Cookbook!!!.......2005-01-16

I have been a vegetarian for about 9 years now and have never found a better cookbook! Most vegetarian cookbooks have strange, expensive ingredients; most of the recipes in this cookbook do not. The recipes are easy to prepare and taste wonderful! Some of my favorite dishes come from this cookbook. The recipes are also very healthy. I'm a registered dietitian so I know how difficult it can be to make something lowfat, vegetarian AND tasty but this author does a fantastic job. I would highly recommend this cookbook for vegetarians and non-vegetarians.

Recommended by an unreconstructed carnivore.......2004-06-12

Yes, vegetarian can also mean tasty, and it can also be easy to prepare. This is a great cookbook with tremendous variety and flair. There isn't a recipe to found here that isn't relatively easy to prepare. I love cooking meat over flame as much as the next barbeque addict, but I love this cookbook enough to give it out to friends as a gift. Forget about it being vegetarian, it just a good cookbook, period. If I were limited to just five cookbooks in my kitchen library, this would probably be one of them.

Great vegetarian cooking for the real world!.......2001-10-12

I'm sorry to see this cookbook has gone out of print, it's one of the best cookbooks (vegetarian or not) I've ever owned. The ingredients are easily accessible in smaller cities and towns (unlike more exotic vegetarian cookbooks), but they are combined in unique and tasty combinations. Makes healthier eating easy, many of the recipes are simple enough that you can still prepare them after you come home tired from a long day at work. Excellent sections on Italian and Eastern European vegetarian dishes. Bring back more of Bobbie Hinman's cookbooks!

The Meatless Gourmet:Favorite Recipes from Around the World

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The Meatless Gourmet:Favorite Recipes from Around the World

Manufacturer: Prima Publishing
ProductGroup: Book
Binding: Spiral-bound
ASIN: B000GU4D7U

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