OFI NANCETHE ULTIMATE RESOURCE

B L O O M S B U R Y

• • a-z

ContentsForeword xviiAdvisory panel xviiiStaff, Contributors, and Advisers xxContributors xxiUser Guide xlv

BEST PRACTICEBalance Sheets and Cash FlowAdvantages of Finance Best Practice 8

Networks Hans-Dieter ScheuermannAllocating Corporate Capital Fairly 11

John L. MariottiAsset Liability Management for 13

Pension Funds Ruud KleynenBest-Practice Working Capital a6

Management: Techniques forOptimizing Inventories,Receivables, and Payables PatrickBuchmann and Udo Jung

Best Practices in Cash Flow 20Management and Reporting Hans-Dieter Scheuermann

Capital Budgeting: The Dominance 25of Net Present Value HaroldBierman, Jr

Capital Structure: Perspectives John 29C. Groth

Cash Flow Best Practice for Small 33and Medium-Sized EnterprisesRita Herron Brown

Comparing Net Present Value and 36Internal Rate of Return HaroldBierman, Jr

Corporate Finance for SMEs Terry 39Carroll

Dangers of Corporate Derivative 42Transactions David Shimko

Factoring and Invoice Discounting: 45Working Capital ManagementOptions Irena Jindrichovska

Fair Value Accounting: SFAS157 and 48IAS 39 Kevin Ow Yong

How Taxation Impacts on Liquidity 51Management Martin O'Donovan

How to Assess a Company's Global 53Treasury Needs and ObjectivesSuccessfully Gary Silha

How to Better Manage Your 56Financial Supply Chain JuergenBernd Weiss

How to Manage Pension Costs 59Edmund Truell

Introduction to Islamic Financial 62Risk Management Products Qudeer ,Latif and Susi Crawford

Managing 21st Century Finances 66Terry Carroll

Managing Capital Budgets for Small 68and Medium-Sized Companies NeilSeitz

Managing Counterparty Credit Risk 71David Shimko

Managing Interest Rate Risk Will 74Spinney

Managing Liquidity in China— 77Challenging Times Marlene Wittman

Managing Liquidity Risk in a 82Financial Institution: The Dangersof Short-Term Liabilities DavidShimko

Managing Retirement Costs Beverly 85Goldberg

Viewpoint: Moving Away from 88Traditional Budgeting LawrencePhillips v

Navigating a Liquidity Crisis 91Effectively Klaus Kremers

Payment Factories: How to 94Streamline Financial Flows ChrisSkinner

Pension Schemes: A Unique and 96Unintended Basket of Risks on theBalance Sheet Amarendra Swarup

Quantifying Corporate Financial 100Risk David Shimko

Risk Management of Islamic 103Finance Instruments Andreas Jobst

To Hedge or Not to Hedge Steve ' 107Robinson

A Total Balance Sheet Approach to noFinancial Risk Terry Carroll

Using Structured Products to 113Manage Liabilities Shane Edwards

The Value and Management of 116Intellectual Property, IntangibleAssets, and Goodwill Kelvin King

Valuing Pension Fund Liabilities on 120the Balance Sheet Steven Lowe

Financial MarketsViewpoint: Asia: Future 123

Perspectives Jim RogersBanks and Small and Medium-Sized 125

Enterprises: Recent BusinessDevelopments Sergio Schmukler,Augusto de la Torre, and Maria SoledadMartinez Peria

Viewpoint: China's Financial 128System—Challenges andOpportunities Fred Hu

Climate Change and Insurance 130• Stephen HaddrillThe Crash and the Banking Sector— 132

The Road to Recovery Angela KnightCredit Derivatives—The Origins of 134

the Problem Eric R. DinalloViewpoint: Difficult Challenges 136

Ahead for China and India RobertCutler

Enterprise Risk Management and 139Solvency II Andy Davies

Viewpoint: Europe and the Euro: A 143Geopolitical View—AnImplausible Currency but the BestAlternative to Naked Conflict?Marko Papic

Viewpoint: The Final Decoupling Is 146Going to Be a Painful Wake-UpCall for the West Bruce Stout

Viewpoint: The Financial Crisis and 149the World's Poor Muhammad Yunus

The Globalization of Inflation Diana 152Choyleva

Viewpoint: The Global Risk Map and 155the Current Credit Crunch Peter,Lord Levene

Viewpoint:'Goldman Sachs, the 157Symbol and Essence of What WentWrong with Western CapitalismJames Anderson

How the Settlement Infrastructure 160Is Surviving the FinancialMeltdown Yves Poullet

India and Brazil—Still Winners as 163the Global Economy Collapses?Maya Bhandari

Insurance—Bruised, Not Crushed 167Robert P. Hartwig

The Insurance Sector: Plenty of 169Silver Lining to Be FoundAndrew Milligan

Interdependence of National and 172International Markets: TheForeign InformationTransmission (FIT) Model BoulisIbrahim and Janusz Brzeszczynski

The International Role of Islamic 176Finance Andreas Jobst

Islamic Insurance Markets and 180the Structure of TakqfidSuzanne White

Viewpoint: Shariah Law—Bringing a 182New Ethical Dimension toBanking Amjid Ali

Longevity, Reserves, and 184Annuities—A Difficult Circle toSquare Paul Belok

Middle East and North Africa 187Region: Financial Sector andIntegration Samy Ben Naceur andChiraz Labidi

Mixflation Giles Keating 191Viewpoint: New Dollar Area—The 195

Makings of the Mess Brian ReadingViewpoint: No Quick Fix for the 199

Eurozone Joseph TrevisaniViewpoint: A One-in-Fifty-Year 201

Event Leigh SkeneViewpoint: Only White Swans on the 205

Road to Revulsion James MontierViewpoint: Opaque Derivatives 207

Market is West's Achilles HeelHernando de Soto

The Origins and Current State of the 209Buyout Market for Pension FundsSteven Haasz

Outsourcing and the Banks Shamus 212Rae

The Payment Services Directive: A 215Crucial Step Toward PaymentHarmonization Across the EUBjorn Flismark

The Perfect Storm—Why Did No One 218See It Coming? The Missing Piecein Risk Management Nigel Walder

Viewpoint: The Problem with 220Derivatives, Quants, and RiskManagement Today Paul Wilmott

Viewpoint: Renewing Capitalism 223Matthew Bishop

n

1

o

n

• • i a-z

VI

0)

33io

2I—H

a

Viewpoint: Risk Management at a 226Crossroads Maureen J. Miskovic

Rules versus Discretion in 228Supervisory Interventions inFinancial Institutions Marc Quintyn

Solvency II—A New Regulatory 231Framework for the InsuranceSector Paul Barrett

Viewpoint: Stability Proves Testing 233for China Matthew Gertken

Viewpoint: Trust, Fear, and a Dead 236Economist Todd Buchholz

Viewpoint: Understanding and 238Forecasting the Credit Cycle—Whythe Mainstream Paradigm inEconomics and Finance CollapsedRichard A. Werner

Viewpoint: What Models Do We 242Need for Risk Management?Riccardo Rebonato

Viewpoint: What Would a New 246Bretton Woods Mean for the IMF?Augusto Lopez-Claros

Why Printing Money Sometimes 249Works for Central Banks PaulKasriel

Viewpoint: Why the World Needs a 251Green New Deal Achim Steiner andPavan Sukhdev

Viewpoint: Yet Another Nail in the 253Final Salary Scheme CoffinTony Clare

Financial Regulation and ComplianceAccounting for Share-Based 255

Payments under IFRS ShanKennedy

Aligning the Internal Audit Function 258with Strategic Objectives Hi asG. Basioudis

The Assurance versus Consulting 262Debate: How Far Should InternalAudit Go? Michael Parkinson

Best Practices in Risk-Based 265Internal Auditing Sheryl Vacca

Classification and Treatment of 268Leases Roger Lister

Contemporary Developments in 271International Auditing RegulationChristopher Humphrey and Anne Loft

Costs and Benefits of Accounting- 276Based Regulation in EmergingCapital Markets Wang Jiwei

Viewpoint: The Credit Crunch Was 278l ike an Atomic Bomb; It WillProfoundly Change How WeThink and Behave William Hopper

The Effect of SOX on Internal 281Control, Risk Management, andCorporate Governance BestPractice David A. Doney

Effective Financial Reporting and 284Auditing: Importance andLimitations Andrew Higson

Engaging Senior Management in 287Internal Control Philip Ratcliffe

Viewpoint: Fragment or Unite—But 289Decide! The Future of EUFinancial Supervision BernhardSpeyer and Norbert Walter

Has Financial Reporting Impacted 291on Internal Auditing Negatively?Andrew Chambers

How Can Internal Audit Report 295Effectively to Its Stakeholders?Andrew Cox

How Internal Auditing Can Help 299with a Company's Fraud IssuesGail Harden

How Much Independence for 304Supervisors in Financial MarketRegulation? Marc Quintyn

How to Implement a Standard Chart 308of Accounts Effectively Aziz Tayyebi

Identifying the Main Regulatory 311Challenges for Islamic FinanceBilal Rasul

Implementing an Effective Internal 314Controls System Andrew Chambers

Incorporating Operational and 318Performance Auditing intoCompliance and FinancialAuditing Andrew Cox

Internal Audit and Partnering with 321Senior Management Bruce Turner

Internal Audit Planning: How Can 325We Do It Better? Michael Parkinson

The Internal Audit Role—Is There an 327'Expectation Gap in YourOrganization? Jeffrey Ridley

Internal Auditors and Enterprise 330Risk Management Ian Fraser

The LIFO Conundrum: Convergence 333of US GAAP with IFRS and ItsImplications on US CompanyCompetitiveness William C. White IV

Managing the Relationships 335between Audit Committees andthe CAE Richard E. Cascarino

New Assurance Challenges Facing 338Chief Audit Executives Simon D'Arcy

Viewpoint: No More Room for 342"Business as Usual" ErnstLigteringen

Optimizing Internal Audit Andrew 344Chambers

Origins and Rationale for IFRS 347Convergence Peter Walton

Performance Reporting under IFRS 351Peter Casson

Principles versus Rules in Financial 353Supervision—Is There OneSuperior Approach? Marc Quintyn

Procedures for Reporting Financial 357Risk in Islamic Finance Daud VicaryAbdullah and Ramesh Pillai

The Rationale of International 360Financial Reporting Standardsand Their Acceptance by MajorCountries Veronique Weets

Viewpoint: Regulation after the 363Crash Viral Acharya and Julian Franks

Revising Basel II—But at What Cost? 366Vishal Vedi

Starting a Successful Internal Audit 368Function to Meet Present andFuture Demands Jeffrey Ridley

Tripping over Prudence—Ideas for a 372Sensible Fix for Basel II SamuelSender and Noel Amenc

Understanding the Requirements 375for Preparing IFRS FinancialStatements Veronique Weets

US Financial Regulation: A Hopeless 377Tangle, or Complexity for aPurpose? Lawrence J. White

What Are the Leading Causes of 380Financial Restatements? ToddDeZoort

What Is the Range of the Internal 383Auditor's Work? Andrew Cox

Why Organizations Need to be 387Regulated—Lessons from HistoryBridget Hutter

Funding and InvestmentThe Ability of Ratings to Predict the 390

Performance of Exchange-TradedFunds Gerasimos G. Rompotis

Acquiring a Secondary Listing, or 394Cross-Listing Meziane Lasfer

Assessing Venture Capital Funding 397for Small and Medium-SizedEnterprises Alain Fayolle and JosephLiPuma

Asset Allocation Methodologies Tom 400Coyne

Attracting Small Investors Wondimu 405Mekonnen

Booms, Busts, and How to Navigate 408Troubled Waters Joachim Klement

Carrying Out Due Diligence on 411Hedge Funds Amarendra Swamp .

Carrying Out Due Diligence on 414Private Equity Funds Rainer Ender

The Case for SMART Rebalancing 417Arun Muralidhar and SanjayMuralidhar

The Changing Role and Regulation 421of Equity Research Simon Taylor

Corporate Covenant and Other 423Embedded Options in PensionFunds Theo Kocken

The Cost of Going Public: Why IPOs 426Are Typically Underpriced LenaBooth

Credit Ratings David Wyss 429Equity Issues by Listed Companies: 432, Rights Issues and Other Methods

Seth ArmitageERM, Best's Ratings, and the 435

Financial Crisis Gene C. LaiEthical Funds and Socially 437

Responsible Investment: AnOverview Chendi Zhang

Financial Steps in an IPO for a Small 440or Medium-Size Enterprise Hurig-Gay Fung

Forecasting Default Rates and the 443Credit Cycle Martin S. Fridson

Forget Sovereign Wealth Funds 446Diana Choyleva J

Funds of Hedge Funds versus Single- 448Manager Funds Steve Wallace

Hedge Fund Challenges Extend 450Beyond Regulation Kevin Burrows

How and When to Use Nonrecourse 453Financing Thomas McKaig

How Stockholders Can Effectively 455Engage with Companies JamesGifford

a-z

The Impact of Index Trackers on 458Shareholders and Stock VolatilityMartin Gold

Investing Cash: Back to Basics Mark 461Camp and Emma Du Haney —_~^^

Viewpoint: Investing in a Volatile 464Environment: A Black SwanPerspective Javier Estrada

Investing in Structured Finance 466Products in the Debt MoneyMarkets Moorad Choudhry

Viewpoint: The Investment Banks 471Are on a "Stairway to Heaven"Philip Augar

IPOs in Emerging Markets Janusz 474Brzeszczynski

Islamic Capital Markets: The Role of 477Sukuk Rodney Wilson

Islamic Modes of Finance and the 480Role of Sukuk Abdel-Rahman YousriAhmad

Issuing Corporate Debt Steven Lowe 483Managing Activist Investors 486

and Fund Managers Leslie L. KossoffMeasuring Company Exposure to 489

Country Risk Aswath Damodaran ,Measuring Country Risk Aswath 492

DamodaranViewpoint: Microfinancing Jacques 495

AttaliMinimizing Credit Risk Frank J. 497

FabozziMoney Managers David 500

Pitt-WatsonOptimizing the Capital Structure: 503

Finding the Right Balancebetween Debt and Equity MezianeLasfer

The Performance of Socially 506Responsible Mutual Funds LucRenneboog

Price Discovery in IPOs Jos van 510Bommel

Private Equity Fund Monitoring and' 513Risk Management Rainer Ender

Private Investments in Public Equity 516William K. Sjostrom, Jr

Public-Private Partnerships in 518Emerging Markets Peter.Koveos andPierre Yourougou

Raising Capital in Global Financial 522Markets Reena Aggarwal

Raising Capital in the United 525Kingdom Lauren Mills

Rigidity in Microfinancing: Can One 528Size Fit All? Dean Karlan and SendhilMullainathan

The Role of Commodities in an 531Institutional Portfolio Keith Blackand Satya Kumar

The Role of Institutional Investors 535in Corporate Financing Hao Jiang

The Role of Short-Sellers in the 539Marketplace Raj Gupta

Viewpoint: Savings Is a Growth 543Industry Anthony Bolton

Securitization: Understanding the 545Risks and Rewards TarunSabarwal

Sources of Venture Capital Lawrence 548Brotzge

Understanding and Accessing 551Private Equity for Small andMedium Enterprises Arne-G.Hostrup

Understanding Equity Capital in 554Small and Medium-SizedEnterprises Siri Terjesen

Understanding the Role of ' 558Diversification GuofuZhou

Understanding the True Cost of 560Issuing Convertible Debt andOther Equity-Linked FinancingRoger Lister

Using Securitization as a Corporate 563Funding Tool Frank J. Fabozzi

Valuation and Project Selection 567When the Market and Face Valueof Dividends Differ GrahamPartington

Viewpoint: We Need More Quants in 571Finance, Not Fewer Alex McNeil

What the Rise of Global Banks 574Means for Your Company ChrisSkinner

When Form Follows Function: How 576Core—Satellite Investing HasSparked an Era of ConvergenceChristopher Holt

Governance and EthicsBalancing Senior Management 580

Compensation Arrangements withShareholders' Interests HenrikCronqvist

Viewpoint: Ban Share Options and 583Stop Subsidizing Banks BeforeRecovery Andrew Smithers

Best Practices in Corporate Social 586Responsibility Alison Kemper andRoger Martin

Best Practice in Investment 590Governance for Pension FundsRoger Urwin

Boardroom Roles Sir Adrian 593Cadbury

Business Ethics Sue Newell 595Viewpoint: The "Comply or Explain" 598

Approach to Improving Standardsof Corporate Governance SirChristopher Hogg

Corporate Board Structures Vidhan 601Goyal

Corporate Governance in 605Transitional Countries-Shareholders or Stakeholders?Irena Jindrichovska

Corporate Responsibility in a Global 608World: Marrying Investment inHuman Capital with Focus onCosts Angela Baron

CSR: More than PR, Pursuing 611Competitive Advantage in theLong Run John Surdyk

Dividend Policy: Maximizing 614Shareholder Value HaroldBierman, Jr

Executive Rewards: Ensuring That 618Financial Rewards MatchPerformance Shaun Tyson

Financial Reporting: Conveying the 622Message Down the Line Leslie L.Kossoff

Viewpoint: The Growth of 625Sustainability Reporting WimBartels

Identifying the Right Nonexecutive 628Director Terry Carroll

Improving Corporate Profitability 631Through Accountability Marc J.Epstein and Priscilla Wisner

Viewpoint: Ladies in Waiting Tim 633Hindle

Viewpoint: Lessons from Russia 635Bruce Misamore

Viewpoint: Lessons from the Credit 638Crisis: Governing FinancialInstitutions Jay W. Lorsch

Viewpoint: The Morals of Money— 640How to Build a SustainableEconomy and Financial SectorRoger Steare

Viewpoint: Regulation, Corporate 642Governance, and BoardroomPerformance Must Be Shaken UpIf We Are to Avoid AnotherFinancial Crisis Stewart Hamilton

Reinvesting in the Company versus 645Rewarding Investors withDistributions Ruth Bender

Mergers and AcquisitionsAccounting for Business 648

Combinations in Accordance withInternational Financial ReportingStandards (IFRS) RequirementsShan Kennedy

Acquisition Integration: How to Do 651It Successfully David Sadtler

Capital Structure: A Strategy that' 653Makes Sense John C. Groth

Capital Structure: Implications John 658C. Groth

Viewpoint: The CFO and the 662Sustainable Corporation RaviNedungadi

Coping with Equity Market 664Reactions to M&A TransactionsScott Moeller

Cultural Alignment and Risk 667Management: Developing theRight Culture R. Brayton Bowen

Due Diligence Requirements in 670Financial Transactions Scott Moeller

Going Private: Public-to-Private 673Leveraged Buyouts Luc Renneboog

How to Set the Hurdle Rate for 676Capital Investments Jon Tucker

Identifying and Minimizing the ^ 679Strategic Risks from M&A PeterHowson

Leveraged Buyouts and Recession 682Louise Scholes and Mike Wright

Leveraged Buyouts: What, 686Why, When, and How Scott S.Johnson

Maximizing a New Strategic Alliance 689Peter Killing

Maximizing Value when Selling a 691Business John Gilligan

VII

o

!

n

I

u

I—I

O

MBOs: A High-Octane and l i fe- 694Changing Mode of Business AndyNash

Merger Integration and Transition 696Management: A New Slant forFinance Executives Price Pritchett

Mergers and Acquisitions: Patterns, 699Motives, and Strategic Fit SiriTerjesen

Mergers and Acquisitions: Today's 703Catalyst Is Working Capital JamesS. Sagner

The Missing Metrics: Managing 706the Cost of Complexity John L.Mariotti

Valuing Start-Ups Aswath Damodaran 709Why Mergers Fail and How to 712

Prevent It Susan Cartwright

Operations and PerformanceAligning Structure with Strategy: 714

Recalibrating for ImprovedPerformance and IncreasedProfitability R. Brayton Bowen

Assessing Opportunities for Growth 717in Developing Countries of Micro,Small, and Medium-SizeEnterprises Montague Lord

Assessing Opportunities for Growth 720in Small and Medium EnterprisesFrank Hoy

Avoiding the Mistakes of the Past: 723Lessons from the Startup WorldJames E. Schrager

Building Potential Catastrophe 725Management into a Strategic RiskFramework Duncan Martin

Business Continuity Management: 728How to Prepare for the WorstAndrew Hiles

Business Implications of the Single 732Euro Payments Area (SEPA)Juergen Bernd Weiss

Viewpoint: The Changing Role of the 734CFO Thibault de Tersant

Viewpoint: China 2020: Double and 736Quadruple Happiness FrankFeather

Viewpoint: China's Fragile New 738Prosperity Gabriel Stein and CharlesDumas

Corporate-Level Strategy David 741Sadtler

Viewpoint: Corporate Taxation and 743Its Impact on Foreign DirectInvestment Graeme Leach

Countering Supply Chain Risk Vinod 745Lall

Creating Value with EVA S. David 748Young

Dealing with Cybersquatters Shireen 751Smith

Designing Corporate Systems for 753Success Leslie L. Kossoff

Dispute Resolution: The Forum 755Selection Clause Elisabeth de Nadaland Victor Manuel Sanchez

Viewpoint: Economic Ebb and Flow, 758a World of Challenges andOpportunities Hamish McRae

Electronic Invoicing in the European 760Union Hansjorg Nymphius

Employee Stock Options Peter Casson 763Enhance Competitive Performance 765

via Critical Key PerformanceIndicators (KPIs) Zahirul Hoque

Essentials for Export Success: 769Understanding How Risks andRelationships Lead to RewardsPaul Beretz

Everything You Need to Know About 772Benchmarking Robin Mann

Viewpoint: The Evolving Role of the 776CFO Aldo Mareuse

Exporting Against Letters of Credit 778Buddy Baker

Financial Techniques for Building 782Customer Loyalty Ray Halagera

Five Routes to Greater Profitability 785for Small and Medium EnterprisesThomas McKaig

Fraud: Minimizing the Impact on 788Corporate Image Tim Johnson

Globalization and Regional Business 791Strategy Alan Rugman

Viewpoint: Globalization, 793Challenges and Threats—WhereWill the WTO and Free Trade Go?Mike Moore

Growing and Maximizing SME 795Profitability WithoutCompromising ROI Neil Marriott

Viewpoint: How the BBC 797Reshaped Its Finance FunctionZarin Patel

How to Manage Emerging Market 799Risks with Third Party InsuranceRod Morris

Human Risk: How Effective 802Strategic Risk Management CanIdentify Rogues Thomas McKaig

The Human Value of the Enterprise 805Andrew Mayo

The Impact of Climate Change on 808Business Graham Dawson

Increasing the Profitability of Small 811and Medium Enterprises—APractical Guide Tom Brown

The Impact of Demographics on 813Business and the World EconomyGabriel Stein

Viewpoint: The Importance of 817Trust—In Everything Jonathan M.Karpoff

Viewpoint: India Today and 820Tomorrow Rajiv Dogra

Innovation and the Path to Growth, 823Profitability, and CompetitivenessJohn Milton-Smith

Intellectual Capital Thomas A. Stewart 826International Arbitration: Basic 829

Principles and CharacteristicsStavros Brekoulakis

Joint Ventures: Synergies and 832Benefits Siri Terjesen

Managing Intellectual Capital Leif 835Edvinsson

Managing Operational Risks Using 837an All-Hazards Approach MarkAbkowitz

Multidimensional Performance 840Measurement Using the BalancedScorecard Priscilla Wisner

Multinationality and Financial 843Performance Alan Rugman

Multiparty and Multicontract 845Arbitration Stavros Brekoulakis

Viewpoint: Navigating the Financial 848Blogosphere Felix Salmon

Political Risk: Countering the 850Impact on Your Business IanBremmer

Profitability Analysis Using Activity- 853Based Costing Priscilla Wisner

Project Planning Techniques for 856Small and Medium EnterprisesDamian Merciar

Protecting Your Intellectual 859Property—Nonregistered RightsJeremy Phillips

Protecting Your Intellectual 861Property—Registered RightsJeremy Phillips

Real Options: Opportunity from 863Risk David Shimko

Reducing Costs and Improving 866Efficiency by Outsourcing andSelecting Suppliers Paul Davies

Reducing Costs and Improving 869Efficiency with New ManagementInformation Systems BeverlyGoldberg

Reducing Costs through Change 872Management Beverly Goldberg

Reducing Costs through Production 875and Supply Chain ManagementVinod Lall

Return on Talent Subir Chowdhury 878Risk Management: Beyond 880

Compliance Bill SharonRisk—Perspectives and Common 884

Sense Rules for Survival John C.Groth

Statistical Process Control for 888Quality Improvement PriscillaWisner

Toward a Total Global Strategy 893George Yip

Turning Around Financial 896Performance David Magee

Viewpoint: Understanding Global 899Risks for the Corporate ThierryMalleret

Understanding Reputation Risk and 901Its Importance Jenny Rayner

Understanding the UCP600 Buddy 904Baker

Using Decision Analysis to Value 909R&D Projects Bert De Reyck

Using Financial Analysis to Evaluate 913Strategy David Sadtler

Value Creation—Perspectives and 916Implications John C. Groth

What Entrepreneurs and Small 921Business Owners Can Do toIncrease Their Chances of Successin the Global Economy Neuman F.Pollack

Why EVA Is the Best Measurement 925Tool for Creating ShareholderValue Erik Stern

• l P7Winning Commercial Tenders

Damian Merciar927

CHECKLISTSBalance Sheets and Cash FlowAssessing Cash Flow and Bank 934

Lending RequirementsBuilding a Forex Plan 935Dealing with Financial 936

IntermediariesDefining the Financial Manager's 937

RoleDeveloping a Contingency Funding 938

PlanEstimating Enterprise Value with 939

the Weighted Average Cost ofCapital

The Foreign Exchange Market: Its 940Structure and Function

Hedging Credit Risk—Case Studies 941and Strategies

Hedging Foreign Exchange Risk— 942Case Studies and Strategies

Hedging Interest Rate Risk—Case 943Study and Strategies

Hedging Liquidity Risk—Case Study _ 944and Strategies

How to Manage Your Credit Rating 945Identifying and Managing Exposure 946

to Interest and Exchange RateRisks

Identifying Weak Points in Your 947Liquidity

Insuring Against Financial Loss . 948Invoicing and Credit Control for 949

Small and Medium-SizedEnterprises

Key Components of an Optimal ^ 950Enterprise Resource PlanningSystem

Managing the Time Value of Money 951Managing Working Capital ; 952Managing Your Credit Risk \ 953Measuring Financial Health 954Measuring Liquidity 955Methods for Dealing with Inflation 956

RiskThe Objectives of Corporate 957

Planning and BudgetingPreparing a Budget 958Preparing a Cash Flow Forecast 959Setting Up a Dividend Policy 960Swaps, Options, and Futures: What 961

They Are and Their FunctionUnderstanding Activity-Based 962

CostingUnderstanding and Calculating the 963

Total Cost of RiskUnderstanding and Using Carry 964

TradesUnderstanding and Using Currency 965

SwapsUnderstanding and Using Inflation 966

SwapsUnderstanding and Using Interest 967

Rate SwapsUnderstanding and Using the Cash 968

Conversion CycleUnderstanding Asset-Liability 969

Management (Full Balance SheetApproach)

Understanding Capital Structure 970Theory: Modigliani and Miller

Understanding Key Financial Terms 971and Statements

Understanding the Balance Sheet 972Understanding the Cost of 973

Capitaland the Hurdle RateUnderstanding the Relationship 974

between the Discount Rate andRisk

Understanding the Weighted 975Average Cost of Capital (WACC)

Understanding Yield/Revenue 976Management

Financial MarketsBanks "Planning for Failure"— 977

Living Wills as Resolution andRecovery Plans

Basel II—Its Development and 978Aims

Calculating Your Total Economic 979Capital

Captive Insurance Companies: How 980to Reduce Your Costs

Catastrophe Bonds: What They Are 981and How They Function

Comparative and International 982Financial Regulation

Derivatives Markets: Their 983Structure and Function

The Interbank Market: Its Structure 984and Function

Key Islamic Banking 985Instrumentsand How They Work

Key Principles of Islamic Finance 986Merchant Banks: Their Structure 987

and FunctionRetail Banks: Their Structure and 988

FunctionThe Role of the Shariah Advisery 989

Board in Islamic FinanceStress Testing to Evaluate Insurance 990

CoverUnderstanding and Calculating 991

Probable Maximum Loss (PML)Understanding Financial Scenario 992

Analysis for Banking andInsurance Institutions ,

Understanding the Components of 993an Insurance Contract

Financial Regulation and ComplianceBalancing Hedging Objectives with 994

Accounting Rules(FAS 133)

The Chief Audit Executive's (CAE) 995Roles and Responsibilities

Choosing an External Auditor 996Creating a Comprehensive Audit 997

Committee Evaluation FormEstablishing a Framework for 998

Assessing RiskThe EU Regulatory Regime 999The HA Code of Ethics 1000Insolvency/Bankruptcy Regulations 1001

in Major RegionsInternational Financial 1002

Reporting Standards (IFRS):The Basics

Key Accounting Standards and 1003Organizations

Key Components of a Corporate Risk 1004Register

The Key Components of an 1005Audit Report

Middle East: Regulatory Structure 1006and Powers

MiFID—Its Development and Aims 1007Preparing and Executing an Internal 1008

Audit ReviewPreparing Financial Statements: 1009

Balance SheetsPreparing Financial Statements: 1010

Profit and Loss Accounts (P&Ls)Principles of Financial Services 1011

RegulationRegulatory and Capital Issues under 1012

Shariah LawSarbanes-Oxley: Its Development 1013

and AimsSolvency II: Its Development 1014

and AimsStress Testing and Scenario Analysis 1015

for Keeping Up with RegulationThe Ten Accounting Principles 1016Understanding Impairment 1017

Accounting: What It Is and WhenIt Is Used

Understanding Internal Audits 1018Understanding the Internal Capital 1019

Adequacy Assessment Process(ICAAP)

Understanding the Key Components 1020of GAAP: The Continuing ConcernConcept

United Kingdom: Regulatory 1021Structure and Powers

Using and Understanding Financial 1022Ratios for Analysis

What Is Forensic Auditing? 1023

Funding and InvestmentAnalysis Using Monte Carlo 1024

SimulationApplying the Gordon Growth Model 1025The Bond Market: Its Structure and 1026

FunctionCalculating a Company's Net Worth 1027Calculating Total Shareholder Return 1028Dealing with Venture Capital 1029

CompaniesThe Efficient Market 1030

HypothesisFinancial Intermediaries: 1031

Their Role and Relation toFinancial Markets

Franchising a Business 1032Fund of Hedge Funds: 1033

Understanding the Risks andReturns

Hedge Funds: Understanding 1034the Risks and Returns

How to Use Credit Rating Agencies 1035How to Use Receivables as Collateral 1036Investing in Employee Pension 1037

Plans: Understanding the Risksand Returns

Mean-Variance Optimization: 1038A Primer

IX

I

©

n

i-z

1

1

Measuring Gearing 1039Money Markets: Their Structure and 1040

FunctionObtaining an Equity Value 1041

Using the Weighted Average Costof Capital (WACC)

Options for Raising Finance 1042Overview of Loan Agreements 1043An Overview of Shariah-Compliant 1044

FundsAn Overview of Stockholders' 1045

AgreementsOverview of Tax Deeds 1046Raising Capital by Issuing 1047

BondsRaising Capital by Issuing 1048

SharesRaising Capital through Private and 1049

Public EquitySovereign Wealth Funds— 1050

Investment Strategies andObjectives

Sovereign Wealth Funds—Profiles of 1051the Top 10 Players

Steps for Obtaining Bank Financing 1053Stock Markets: Their Structure and 1054

FunctionStructured Investment Vehicles 1055Trading in Commodities: Why and 1056

HowTrading in Corporate Bonds: Why 1057

and HowTrading in Equities on Stock 1058

ExchangesTrading in Government Bonds: Why 1059

and HowUnderstanding and Using Interest 1060

Coverage RatiosUnderstanding and Using Leverage 1061

RatiosUnderstanding and Using the Repos 1062

MarketUnderstanding Capital Markets, 1063

Structure and FunctionUnderstanding Debt Cover 1064Understanding Fixed-Charge 1065

CoverageUnderstanding Portfolio Analysis 1066Understanding Price Volatility 1067Understanding Private Equity 1068

Strategies: An OverviewUsing Dividend Discount 1069

ModelsUsing Investment Funds 1070

(Unit and Investment Trusts)Using Mezzanine Financing 1071Using Multistage Dividend Discount 1072

ModelsUsing Shareholder Value Analysis 1073

Governance and EthicsThe Board's Role in Executive 1074

CompensationBusiness Ethics in Islamic Finance 1075Conflicting Interests: The Agency 1076

IssueCorporate Governance and Its 1077

InterpretationsCorporate Governance Practices in 1078

Private Equity-Owned Firms

Creating a Sustainable Development 1079Policy

Creating Executive Compensation 1080Denning Corporate Governance: Its 1081

Aims, Goals, and ResponsibilitiesDirectors' and Officers' Liability 1082

InsuranceDirectors' Duties: A Primer 1083Governance Practices in Family- 1084

Owned FirmsInvestors and the Capital Structure 1085Regulatory Responsibilities of 1086

Executive and NonexecutiveDirectors: An InternationalOverview

Requirements of the UK Combined 1087Code on Corporate Governance

The Responsibilities of Trustees 1088Selecting the Board and Evaluation 1089

ProcessSocial Return on Investment 1090Sound Business Judgment and 1091

Immunity from LiabilityThe Triple Bottom l i n e 1092Understanding Economic Efficiency 1093

Theory

Mergers and AcquisitionsAchieving Success in International 1094

AcquisitionsAcquiring a Company 1095Acquisition Accounting 1096M&A Regulations: A Global 1097

OverviewManagement Buyouts 1098Planning the Acquisition Process 1099Planning the Disposal Process 1100The Rationale for an Acquisition 1101Structuring M&A Deals and Tax 1102

PlanningUnderstanding Anti-Takeover 1103

StrategiesUsing IRR for M&A Financing 1104Using the Comparable Net 1105

Worth Method in Squeeze OutsUsing the Market-Value Method for 1106

Acquisitions

Operations and PerformanceApplying Cost—Benefit Analysis to 1107

Project AppraisalApplying Stress-Testing to Business 1108

Continuity ManagementApplying Stress-Testing to 1109

Operational Risk ExposureAppraising Investment 1110

OpportunitiesAssessing Business Performance 1111Assessing Economies of Scale in 1112

BusinessAssessing the Value of Outsourcing 1113

and OffshoringBasic Steps for Starting a Business 1114Building an Efficient Credit and 1115

Collection Accounts SystemBuilding an Electronic Invoicing 1116

SystemBusiness Process Reengineering 1117Calculating Return on Investment in 1118

Human Resources

Choosing and Using Business 1119Advisers

Choosing the Right Payment Policy 1120Commercial Aspects of licensing 1121Competition Law: Key Financial 1122

IssuesCorporate Insurance Cover: A 1123

PrimerCosting a New Project 1124Creating a Risk Register 1125Distribution Agreements 1126Efficient Invoicing Procedures 1127Ensuring Effective Financial Control 1128Evaluating Projects and Programs 1129How to Optimize Stock Control 1130Identifying Your Continuity Needs 1131Insuring Against Business 1132

InterruptionIntellectual Property—Copyright 1133Intellectual Property—Patents—An 1134

International OverviewIntellectual Property—Registered 1135

Designs and TrademarksInternational Comparisons of 1136

Company LawInventory—How to Control It 1137

EffectivelyIslamic Commercial Law 1138Islamic Law of Contracts 1139Managing and Auditing the Risk of 1140

Business InterruptionManaging Bankruptcy and 1141

InsolvencyManaging External Stakeholders 1142Nonperformance and Breach of 1143

ContractPerforming a Skills Gap Analysis 1144Performing Total Cost of Ownership 1145

AnalysisPersonal Guarantees and the 1146

Potential Consequences of GivingThem

Practical Purchasing Procedures — 1147Practical Techniques for 1148

Commercial MediationThe Principles of Litigation 1149Setting Up a Key Risk Indicator 1150

(KRI) SystemStructuring, Negotiating, and 1151

Drafting Agency AgreementsStructuring and Negotiating Joint 1152

VenturesUnderstanding and Calculating 1153

RORAC, RAROC, and RARORACUnderstanding Continuity Insurance 1154Understanding Crisis Management 1155Understanding Decision-Tree 1156

AnalysisUnderstanding Key Performance 1157

IndicatorsUnderstanding Pareto's Law 1158Understanding Real Options 1159Understanding Root Cause Analysis 1160

in the Business EnvironmentUnderstanding Strategy Maps 1161What Is Benchmarking? 1162

CALCULATIONS AND RATIOSAccounts Payable Turnover Ratio 1166Accounts Receivable Turnover 1166

Accrual Rate 1167Acid-Test Ratio 1167Activity-Based Costing 1168Alpha and Beta Values of a Security 1170Amortization 1171Annual Percentage Rate 1172Asset Turnover 1172Asset Utilization 1173Basis Point Value U74Binomial Distribution 1174Bond Yield 1175Book Value . 1176Borrowing Costs and Capitalization 1177

Payout Ratio 1218Portfolio Analysis: Duration, 1219

Convexity, andlmmunizationPrice/Earnings Ratio 1220Price Elasticity 1221Price/Sales Ratio 1221Quantitative Methods 1222Rate of Return 1223Reading an Annual Report 1223Reserve Ratio 1225Residual Value 1226Return on Assets 1226Return on Investment 1227

Break-Even AnalysisCapital Asset Pricing ModelCapital ExpenditureCapitalization RatiosCentral l imit TheoremContribution MarginConversion Price ,Conversion RatioConvertible Preferred StockCost of Goods SoldCovarianceCreating a Balance SheetCreating a Cash Flow StatementCreating a Profit and Loss (P&L)

AccountCreditor and Debtor DaysCurrent Price of a BondCurrent RatioDays Sales OutstandingDebt/Capital RatioDebt/Equity RatioDenning AssetsDepreciationDiscounted Cash FlowDistinguishing between a Capital

and an Operating LeaseDividend YieldEarnings at RiskEarnings per ShareEBITDAEconomic Value AddedEfficiency and Operating RatiosElasticityEnterprise ValueExchange Rate RiskExpected Rate of ReturnFair Value CalculationsFixed-Deposit Compound InterestForward Interest RatesFuture ValueFuture Value of an AnnuityGoodwill and PatentsGross Profit Margin RatioInterest CoverageInternal Rate of Returnliquidity Ratio AnalysisManagement AccountsMarginal CostMarginal Rate of SubstitutionMarket/Book RatioNet Added Value (NAV) and

Adjusted NAVNet Present ValueNominal and Real Interest RatesOption PricingPayback Period

11781179

118011811181118211831183118411861186118711881189

11891190119111911192

119311931194

11951196

11971198

\ 11981199

120012001201120212021204120512051206120612071208120812091210121012111212121312141214

1215121612171217

Return on SalesReturn on Stockholders' EquityRisk-Adjusted Rate of ReturnScenario AnalysisSharpe RatioStatistical Process Control MethodsStochastic ModelingStress TestingSwap ValuationTerm Structure of Interest RatesTick ValueTime Value of MoneyTotal ReturnTreynor RatioValue at RiskWeighted Average Cost of CapitalWorking CapitalWorking Capital CycleWorking Capital ProductivityYieldZ-Score

THINKERS AND LEADERSPrince Al-Walid bin TalalLouis BachelierGary BeckerPeter L. BernsteinFischer BlackGary BrinsonWarren BuffettAndrew CarnegieRonald Harry CoaseJohn C. CoxHerman DalyJoseph de la VegaW. Edwards DemingMarc FaberEugene FamaIrving FisherJohn Kenneth GalbraithNicholas Georgescu-RoegenLouis GerstnerBenjamin GrahamAlan GreenspanFriedrich HayekDaniel KahnemanJohn Maynard KeynesEdwin LefevreBurton MalkielHarry MarkowitzRobert MertonMerton MillerHyman Philip MinskyFranco ModiglianiJ. P. MorganNicholas Negroponte

122812281229123012311231123212331234123412351236

123712371238123812391240124112411242

1246124712481249125012511252

1253125412551256

12571258

12591260126112621263126412651266126712681269127012711272127312741275127612771278

Paul H. O'Neill 1279Michael Eugene Porter 1280C. K. Prahalad 1281David Ricardo 1282John D. Rockefeller 1283Stephen A. Ross 1284Nouriel Roubini 1285Paul Samuelson 1286Jean-Baptiste Say 1287Myron Scholes 1288Ernst Friedrich Schumacher 1289Joseph Schumpeter 1290William F. Sharpe 1291Jeremy Siegel 1292Adam Smith 1293George Soros 1294Joseph Stiglitz 1295Richard Thaler , 1296James Tobin 1297Amos Tversky 1298Arnold, Lord Weinstock 1299Jack Welch 1300Muhammad Yunus 1301Robert Zoellick 1302

FINANCE LIBRARYAbsolute Returns: The Risk and 1308

Opportunities of Hedge FundInvesting Alexander M. Ineichen(2003)

Accounting and Finance for Non- 1309Specialists Peter Atrill and EddieMcLaney (6th ed 2008, originally 1995)

Advances hi Behavioral Finance 1310Richard H. Thaler (ed) (1993)

Against the Gods: The Remarkable 1311Story of Risk Peter L. Bernstein(1996)

The Age of Turbulence: Adventures 1312in a New World Alan Greenspan(2007)

The Alchemy of Finance: Reading 1313the Mind of the Market GeorgeSoros (1987)

Animal Spirits: How Human 1314Psychology Drives the Economy,and Why It Matters for GlobalCapitalism George A. Akerlof andRobert J. Shiller (2009)

The Ascent of Money: A Financial 1315History of the World Niall Ferguson(2009)

Balanced Scorecard: Translating 1316Strategy into Action Robert S.Kaplan and David P. Norton (1996)

Banker to the Poor: The Story of the 1317Grameen Bank Muhammad Yunusand Alan Jolis (1998)

Barbarians at the Gate: The Fall of 1318RJR Nabisco Bryan Burrough andJohn Helyar (1990)

The Basel Handbook: A Guide for 1319Financial Practitioners Michael K.Ong (ed) (2nd ed 2006, originally 2004)

A Behavioral Theory of the Firm 1320Richard M. Cyert and James G. March(2nd ed 1992, originally 1963)

Being Digital Nicholas Negroponte 1321(1995)

XI

noII

qgn

• • — i , *

•

Q a-z

i1o

y

a

The Black Swan: The Impact of the 1322Highly Improbable Nassim NicholasTaleb (2007)

Blink: The Power of Thinking 1323without Thinking Malcolm Gladwell(2005)

Blue Ocean Strategy: How to Create 1324Uncontested Market Space andMake the Competition IrrelevantW. Chan Kim and Renee Mauborgne(2005)

The Bottom Billion: Why the Poorest 1325Countries Are Failing and WhatCan Be Done About It Paul Collier(2007)

The Box: How the Shipping 1326Container Made the WorldSmaller and the World EconomyBigger Marc Levinson (2006)

Cashflow Reengineering: How to 1327Optimize the Cashflow Timelineand Improve Financial EfficiencyJames Sagner (1997)

Common Stocks and Uncommon 1328Profits Philip A. Fisher (1958)

Competing for the Future Gary Hamel 1329

and C. K. Prahalad (1994)The Competitive Advantage of 1330

Nations Michael E. Porter (1990)Competitive Strategy: Techniques 1331

for Analyzing Industries andCompetitors Michael E. Porter (1980)

Confusion de Confusiones Joseph de 1332la Vega (1688)

Conquer the Crash: You Can Survive 1333and Prosper in a DeflationaryDepression Robert R. Prechter, Jr(2nd ed 2009, originally 2003)

Corporate Financial Management 1334Glen Arnold (4th ed 2008, originally1998)

Corporate-Level Strategy: Creating 1335Value in the MultibusinessCompany Michael Goold, AndrewCampbell, and Marcus Alexander (1994)

Corporate Strategy: An Analytic 1336Approach to Business Policy forGrowth and Expansion H. IgorAnsoff (1965)

Cost and Effect: Using Integrated 1337Cost Systems to Drive Profitabilityand Performance Robert S. Kaplanand Robin Cooper (1997)

Damodaran on Valuation: Security 1338Analysis for Investment andCorporate Finance AswathDamodaran (2nd ed 2006, originally

1994)A Demon of Our Own Design Richard 1339

Bookstaber (2007)The Essence of Financial 1340

Management David R. Myddelton

(1995)The EVA Challenge: Implementing 1341

Value-Added Change in anOrganization Joel M. Stern and JohnS. Shiely (2001)

Extraordinary Popular Delusions 1342and the Madness of Crowds CharlesMackay (1841)

A Farewell to Alms: A Brief 1343Economic History of the WorldGregory Clark (2007)

FIASCO: The Inside Story of a Wall 1344Street Trader Frank Partnoy (1997)

Finance Zvi Bodie and Robert C. Merton 1345(2000)

The Finance Manual for 1346Non-Financial Managers:The Power to Make ConfidentFinancial Decisions Paul McKoenand Leo Gough (1996)

Financial Accounting and Reporting 1347Barry Elliott and Jamie Elliott (13th ed2009, originally 1993)

Financial Control for Non-Financial 1348Managers David Irwin (1995)

Financial Management Jae K. Shim 1349and Joel G. Siegel (3rd ed 2009,originally 1986)

Financial Management: An 1350Introduction Jim McMenamin (1999)

Financial Management for the Small 1351Business Colin Barrow (6th ed 2006,originally 1984)

Financial Strategy: Adding 1352Stakeholder Value JanetteRutterford (ed) (1998)

The Financial Times 1353Handbook of FinancialManagement Steve Robinson (1995)

Fooled by Randomness: The Hidden 1354Role of Chance in Life and in theMarkets Nassim Nicholas Taleb (2nded 2005, originally 2001)

Foundations of Multinational 1355Financial Management Alan C.Shapiro and Atulya Sarin (6th ed 2008,originally 1991)

Frank Wood's Business Accounting, 1356Volumes 1 and 2 Frank Wood andAlan Sangster(11th ed 2008, originally 1967)

Freakonomics: A Rogue Economist 1357Explores the Hidden Side ofEverything Steven D. Levitt andStephen J. Dubner (2005)

Freefall: Free Markets and 1358the Sinking of the Global EconomyJoseph Stiglitz (2010)

Futures, Options, and Swaps Robert 1359W. Kolb and James A. Overdahl (5th ed2007, originally 1994)

The Global Financial System: A 1360Functional Perspective Dwight B.Crane, Kenneth A. Froot, Scott P.Mason, Andre F. Perold, Robert C.Merton, Zvi Bodie, Erik R. Sirri, andPeter Tufano (1995)

Globalization and Its Discontents 1361Joseph Stiglitz (2002)

Good Value: Reflections on Money, 1362Morality, and an Uncertain WorldStephen Green (2009)

Governance and Risk: An Analytical 1363Handbook for Investors,Managers, Directors, andStakeholders George Dallas (ed)(2004)

The Great Crash, 1929 John Kenneth 1364Galbraith (1955)

The Gridlock Economy: 1365How Too Much OwnershipWrecks Markets, StopsInnovation, and Costs LivesMichael Heller (2008)

How the Stock Market 1366Works: A Beginner'sGuide to Investment Michael Becketand Yvette Essen(3rd ed 2009, originally 2002)

How to Be Rich J. Paul Getty (1965) 1367Inefficient Markets: An Introduction 1368

to Behavioral Finance AndreiShleifer (2000)

Information Rules: A Strategic 1369Guide to the Network EconomyCarl Shapiro and Hal R. Varian (1999)

Innovation Corrupted: The Origins 1370and Legacy of Enron's CollapseMalcolm S. Salter (2008)

Intellectual Capital: The New Wealth 1371of Organizations Thomas A. Stewart

(1997)The Intelligent Investor 1372

Benjamin Graham (1949)International Financial 1373

Management Cheol S. Eun and BruceG. Resnick (5th ed 2008, originally1998)

Introduction to Accounting Pru 1374Marriott, J. R. Edwards, and H. J.Mellett (3rd ed 2002, originally 1989)

An Introduction to Islamic Finance 1375Theory and Practice Zamir Iqbal andAbbas Mirakhor (2007)

Inventing Money: The Story of Long- 1376Term Capital Management and theLegends Behind It Nicholas Dunbar(2000)

Investments Zvi Bodie, Alex Kane, and 1377Alan J. Marcus (8th ed 2008, originally

1989)IOU: Why Everyone Owes Everyone- 1378

and No One Can Pay (alsopublished as Whoops) JohnLanchester (2010)

Irrational Exuberance Robert J. 1379Shiller (2nd ed 2005, originally 2000)

Juran on Planning for Quality Joseph 1380M. Juran (1988)

Liar's Poker: Rising Through the 1381Wreckage on Wall Street MichaelLewis (1989)

The Living Company: Habits for 1382Survival in a Turbulent BusinessEnvironment Arie de Geus (1997)

Lords of Finance: The Bankers Who 1383Broke the World Liaquat Ahamed(2009)

Macroeconomics N. Gregory Mankiw 1384(7th ed 2010, originally 1992)

Management Accounts: How to Use 1385Them to Control Your BusinessTony Skone (1995)

Managing Across Borders: The 1386Transnational Solution ChristopherA. Bartlett and Sumantra Ghoshal (2nded 1998, originally 1989)

Managing Financial Resources Mick 1387Broadbent and John Cullen (3rd ed2003, originally 1993)

Market Wizards: Interviews with 1388Top Traders Jack D. Schwager (1989)

Mastering Financial Management: 1389Demystify Finance and TransformYour Financial Skills ofManagement Stephen Brookson(1998)

Mastering Risk, Volume 1: Concepts 1390James Pickford (ed) (2000)

The (Mis)behavior of Markets Benolt 1391Mandelbrot and Richard L. Hudson(2004)

The Money Game Adam Smith (1976) 1392Monkey Business: Swinging 1393

Through the Wall Street JungleJohn Rolfe and Peter Troob (2000)

Multinational Business Finance 1394David K. Eiteman, Arthur I. Stonehill,and Michael H. Moffett (12th ed 2009,originally 1973)

My life as a Quant Emanuel Derman 1395(2004)

A Non-Random Walk Down Wall 1396Street Andrew W. Lo and A. CraigMacKinlay (1999)

On the Economy of Machinery and 1397Manufactures Charles Babbage(1832)

One Up on Wall Street: How to Use 1398What You Already Know to MakeMoney hi the Market Peter Lynch(1989)

Option Volatility and Pricing: 1399Advanced Trading Strategies andTechniques Sheldon Natenberg(1994)

Options, Futures, and Other 1400Derivatives John C. Hull (7th ed2008, originally 1989)

The Portable MBA in Finance 1401and Accounting Theodore Grossmanand John Leslie Livingstone (eds) (4thed 2009, originally 1992) .

Portfolio Selection: Efficient 1402Diversification of InvestmentsHarry M. Markowitz (2nd ed 1991,originally 1959)

Portfolio Theory and Capital 1403Markets William Sharpe (1970).

Principles of Corporate 1404Finance Richard A. Brealey, Stewart C.Myers, and Franklin Allen (9th ed 2008,originally 1983)

A Random Walk Down Wall Street: 1405The Time-Tested Strategy forSuccessful Investing Burton G.Malkiel (gth ed 2007, originally 1973)

Reengmeering the Corporation: A 1406Manifesto for Business RevolutionMichael Hammer and James Champy(1993)

Reminiscences of a Stock Operator 1407Edwin Lefevre (1923)

The Rise and Fall of Strategic 1408Planning Henry Mintzberg (1994)

The Six Sigma Way: How GE, 1409Motorola and Other TopCompanies are Honing TheirPerformance Peter S. Pande, RobertNeuman, and Roland R. Cavanagh(2000)

The Smartest Guys in the Room: The 1410Amazing Rise and Scandalous Fallof Enron Bethany McLean and PeterElkind (2003)

The Snowball: Warren Buffett and 1411the Business of Life Alice Schroeder(2008)

Stocks for the Long Run: The 1412Definitive Guide to FinancialMarket Returns and Long-TermInvestment Strategies Jeremy J.Siegel (4th ed 2008, originally 1994)

Take On the Street: What Wall Street 1413and Corporate America Don'tWant You to Know Arthur Levitt(2002)

Taxes and Business Strategy: A 1414Planning Approach Myron S.Scholes, Mark A. Wolfson, Merle M.Erickson, Edward L. Maydew, andTerrence J. Shevlin (4th ed 2008,originally 1992)

Technical Analysis of the Financial 1415Markets: A Comprehensive Guideto Trading Methods andApplications John J. Murphy (1999)

Test Your Financial Awareness John 1416Hodgson (2000)

The Theory of Finance Eugene F. Fama 1417and Merton H. Miller (1972) .

The Theory of Social and Economic 1418Organization Max Weber (1924)

This Time Is Different: Eight 1419Centuries of Financial FollyCarmen M. Reinhart and Kenneth S.Rogoff (2009)

The Tipping Point: How Little 1420Things Can Make a Big DifferenceMalcolm Gladwell (2000)

Traders, Guns, and Money: Knowns 1421and Unknowns in the DazzlingWorld of Derivatives Satyajit Das(2006)

The Undercover Economist Tim 1422Harford (2006)

Valuation: Measuring and Managing 1423the Value of Companies Tim Roller,Marc Goedhart, and David Wessels (5thed 2010, originally 1990)

Value at Risk Philippe Jorion (3rd ed 14242006, originally 1997)

Value Investing: Tools and 1425Techniques for IntelligentInvestment James Montier (2009)

The Warren Buffett Way Robert G. 1426Hagstrom (2nd ed 2004, originally1994)

The Wealth of Nations 1427Adam Smith (1776)

What Went Wrong at Enron: 1428Everyone's Guide to the LargestBankruptcy in US History Peter C.Fusaro and Ross M. Miller (2002)

When Genius Failed: The Rise and 1429Fall of Long-Term CapitalManagement Roger Lowenstein(2001)

When Markets Collide: Investment 1430Strategies for the Age of GlobalEconomic Change Mohamed A. El-Erian (2008)

Why Smart People Make Big Money 1431Mistakes and How to CorrectThem Gary Belsky and ThomasGilovich (1999)

Wildnomics: How Mass 1432Collaboration Changes EverythingDon Tapscott and Anthony D. Williams(2006)

XIII

COUNTRY AND SECTORCountry ProfilesAlgeriaAngolaAntigua and BarbudaArgentinaAustraliaAustriaThe BahamasBahrainBangladeshBarbadosBelgiumBermudaBoliviaBotswanaBrazilBritish Virgin IslandsBruneiBulgariaCanadaCayman IslandsChannel IslandsChileChinaColombiaCook IslandsCroatiaCyprusCzech RepublicDenmarkDominicaEcuadorEgyptEstoniaFinlandFranceGermanyGhanaGibraltarGreeceHong KongHungaryIcelandIndiaIndonesiaIranIraqIrelandIsle of ManIsrael and the Palestinian

TerritoriesItalyJapanJordanKuwaitLatviaLebanonLibyaLiechtenstein

PROFILES

143714381440144114421444144514461448144914511452145314551456

1458

145914611462

1463146514661468146914701472

1473' 1474

1476

1477147914801481

14831484i486

1487148914901491

149314941496

149714991500150115031504

15051507150815101511151215141515

©

8

a-z

LithuaniaLuxembourgMacauMalaysiaMaltaMauritiusMexicoMonacoMontserratMoroccoNauruThe NetherlandsNew ZealandNigeriaNorwayPakistanPanamaPeruThe PhilippinesPolandPortugalQatarRomaniaRussiaSaudi ArabiaSeychellesSingaporeSlovak RepublicSloveniaSouth AfricaSouth KoreaSpainSt Kitts and NevisSwedenSwitzerlandSyriaTaiwanThailandTunisiaTurkeyTurks and Caicos IslandsUkraineUnited Arab EmiratesUnited KingdomUnited States of AmericaVenezuela

1516151715191520152115221524152515261528152915301532153315341536153715381540154115431544154515471549155O15511553155415561558155915611562156415651567156815701571157315741576157715791580

SteelTelecomsTourism and HotelsTransport and LogisticsWater

16211623162516271628

y

a

Sector ProfilesAutomobiles 1583Aviation 1584Banking and Financial Services 1586Chemicals 1588Construction and Building Materials 1590Defense 1592E-Commerce 1593Electronics 1595Energy 1597Engineering 1599Food and Agribusiness 1601Healthcare and Pharmaceuticals 1604Information Technology 1605Insurance 1607Media 1609Mining 1611Oil and Gas 1613Professional Services 1614Real Estate 1616Retail 1618Shipping 1620

FINANCE INFORMATION SOURCESAccounting 1634Acquisitions, Takeovers, and 1638

Mergers. .Analytical Techniques and Statistics 1641Asset and liability Management 1643Auditing and Management 1645

AuditBankruptcy and Business 1647

FailureBehavioral Finance 1650Benchmarking 1652Bonds/Fixed Income . 1654Budgeting 1&57Bus ines s Appraisal and 1660

Performance MeasurementBusiness Ethics and Codes of 1664

PracticeBusiness Plans and Planning . 1668Business Process Reengineering 1670Capital Markets and Stock Markets 1672Central BankingContingency, Crisis, Disaster

ManagementCorporate CultureCorporate InsuranceCorporate StrategyCorporate ValuationCredit and Debt ManagementCurrency and Foreign ExchangeDerivatives and Quantitative

FinanceEconometricsEmerging Market FinanceEnergy and Commodity FinanceFinancial EconomicsFinancial ModelingForecasting and Scenario PlanningHedge Funds, Fund Management,

and Alternative InvestmentsIntellectual PropertyInternational FinanceInternational Management, Cross-

Cultural ManagementInvestmentIslamic FinanceKnowledge ManagementLeadershipManagement BuyoutsManagement StylesManagement TheoristsMarket Research and

Competitor IntelligenceMathematical FinanceMoney LaunderingMortgage FinanceOperations ManagementOutsourcingPension Fund FinancePricingPrivate Equity

1&751678

168116841690

1694169817001702

1706

17091712

171517191722

1725

1728

17311734

173717431748

175317591761

17631765

17681771

177417781781

17831787

1789

Process Control and Statistical 1793Process Control

Project Finance 1795Purchasing and Supply Chain 1798

ManagementRetail Banking 1801Risk Management 1805Selling and Salesmanship 1809Small and Growing Businesses 1813Social Responsibility of " 1819

ManagementStructured Finance 1822Technical Analysis 1825Trading 1828Transport Finance 1831Venture Capital 1834Wealth Management 1837

QUOTATIONSAbility 1844Accounting 1844Accuracy 1844Achievement 1844Action 1844Adversity 1845Advertising 1845Ambition 1846Attitude 1846Banking 1846Blame 1848Boasting 1848Boldness 1849Boom and Bust 1849Brands 1852Budgeting 1852Bureaucracy 1852Business Ethics 1852Capitalism ' 1854Capitalism versus Socialism 1854Careers 1855Challenge 1855Change - 1855Character 1856Choice 1857Civilization 1857Common Sense 1858Communication 1858Competition 1858Computers 1859Confidence and Self-Belief 1859Conscience 1859Consultants and Advisers i860Consumption i860Contracts 1861Cooperation 1861Corporate Culture 1861Corporate Responsibility 1862Corruption and Scandal 1862Creativity 1863Criticism 1864Customers 1864Debt 1865Decisions 1865Delegating 1865Details 1866Determination 1866Discrimination 1866Doing Business in Africa 1866Doing Business in Asia-Pacific 1867

Doing Business in EuropeDoing Business in IndiaDoing Business in Latin AmericaDoing Business in North AmericaE-CommerceEconomicsEducationEfficiencyEmployeesEmployersEnthusiasmEntrepreneursEnvironmentExcellenceExecutivesExpectationsExperienceFailureFearFinanceFocusForecastingGetting StartedGlobalizationGoals and ObjectivesGovernmentGreedGrowthHiring and FiringHonestyIdeasImageImaginationIndependenceIndustrial RelationsIndustryInformationInnovationIntelligenceInvestmentJobs

18671867186818681868186918701870187018711871187118721872187218721873187318741874187718771877187818781879187918801880188018801881188118811882188218821883188318841884

JudgementsKnowledgeLaw and LawyersLeadershipLearningListeningLosingLoyaltyLuckManagementMarketingMediaMeetingsMergers and DemergersMistakesMoneyMotivationNegotiationNepotismOffice PoliticsOpinionsOpportunityOrderOrganizationsOriginalityPeople and RelationshipsPerfectionPerformancePersistencePersonalitiesPhilanthropyPlanningPowerPraise and RecognitionPrinciplesPrioritiesProblems and ObstaclesProcrastinationProductivityProductsProfits

188518851885188518861887188718871888188818891889189018901891189118921892

18931893189318931894189418951895189518961896189618971897189718981899189918991900190019011901

ProgressPublicityQualityReputationResearchResponsibilityRisk TakingScienceSellingServiceSinceritySocialism and CommunismSocietySpeechesStatisticsStrategyStressSuccessTalentTargetsTaxesTeamsTechnologyTime ManagementTravelTrustValue\Visionx

WagesWealthWinners and WinningWomen in BusinessWork and Employment

190119021902190219021903190a19041904190419051905190519051906190619071907190819081908190819091910191019101910191019111911191219121913

XV

n©

I

Author Index

DICTIONARY

IndexCredits

1915

1931

21392161

o

n