Banking & Finance 2012

Banking, Finance & Accountancy 2012

MAKE MONEY WORK WITH FINANCE AND INVESTMENT TITLES FROM PALGRAVE MACMILLAN Personal Investment: financial planning in an uncertain world

Personal Finance 2nd Edition

Edited by George Callaghan, Ian Fribbance and Martin Higginson

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For more information got to page 20

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30 Mar 2010 – 978-0-230-24660-7 - £39.99 - Paperback

04 Nov 2011 - 978-0-230-34811-0 - £34.99 - Paperback

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This Second Edition of the successful introductory personal finance text is a ‘must have’ book for anybody that wants their money to work as hard as they do! Published in association with the Open University.

Companion website available

Mariana Mazzucato, Jonquil Lowe, Alan Shipman and Andrew Trigg

This innovative new teaching text provides an introduction to personal investment in a world defined by uncertainty. Published in association with the Open University.

Companion website available

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For more information go to page 19

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Banking, Finance & Accountancy 2012

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Welcome to the new Palgrave Macmillan Banking, Finance and Accountancy Catalogue 2012.

Contents Banking Palgrave Macmillan Studies In Banking and Financial Institutions series Monetary Economics Quantitative Methods Finance and Financial Markets Financial Management International Finance Public Finance Accounting Reference Index

3 4 9 10 12 19 23 25 27 28 31

The past few years have seen huge change in the finance industry, and 2012 / 2013 promises no respite. As new markets, instruments and regulation continue to change the face of the industry, Palgrave’s finance programme continues to respond. Our scholarly programme continues to bring you the latest research in the global financial system through our celebrated Studies in Banking and Financial Institutions Series, (Series Editor: Philip Molyneux, Bangor Business School). In 2012, topics covered include the series continues to explore the financial and sovereign debt crises and the repercussions on the global economy, the hugely controversial Basel III, and following the theme of last year, we continue to analyze the inner workings of country-specific banking systems.

Our professional programme sees massive change this year. We are launching two new series: Applied Quantitative Finance is a new series of titles covering quantitative finance as it is actually applied in the industry. We are very pleased to launch this series with Chris Kenyon and Roland Stamm’s Discounting, Libor, CVA and Funding: Interest Rate and Credit Pricing - a guide to the very latest in quantitative financial applications. We are also launching Financial Engineering Explained (Series Editor: Wim Schoutens, Catholic University of Leuven), an innovative new short form series of how to guides for finance practitioners and students alike.

Finally, we are delighted to announce the publication of Investment Banking and the Global Credit and Capital Markets by Professor Brian Scott-Quinn of the ICMA Centre, University of Reading. This is a complete and up-to-date guide to the financial services industry, its sectors and its governance.

Best wishes Professional & Scholarly Books: Pete Baker | Head of Business, Finance and Economics | p.baker@palgrave.com Ria Purser | Senior Marketing Executive | r.purser@palgrave.com College Textbooks: Martin Drewe | Publisher | m.drewe@palgrave.com Jonathan Roscoe | Marketing Manager | j.roscoe@palgrave.com

For a complete list of titles, please visit www.palgrave.com.

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BANKING BANKING

Ethics in Investment Banking John N. Reynolds has a 20 year career in investment banking and chaired the Church of England Ethical Investment Advisory Group (EIAG).Edmund Newell is a priest in the Church of England and is also a member of the EIAG.

‘A no-nonsense book full of practical and workable solutions to ethical problems. Ethics in Investment Banking could not be more timely, making it very clear that there is no excuse for the absence of a strong ethical foundation to investment banking.’ - Lord Myners ‘Whether banks, especially investment banks, lost their moral and ethical compass, as well as vast amounts of shareholders’ capital, is a fair question to ask in the wake of the financial crisis. What is clear is that sustainable returns in banking can only be achieved if banks act fairly and responsibly to their key stakeholders. This book makes an important contribution to considering this question.’ - Sir Philip Hampton, Chairman, RBS The financial crisis focused unprecedented attention on ethics in investment banking. This book develops an ethical framework to assess and manage investment banking ethics and provides a guide to high profile concerns as well as day to day ethical challenges.

Liberalizing Financial Services and Foreign Direct Investment

Islamic Banking and Finance Definitive Texts and Cases

Developing a Framework for Commercial Banking FDI

Omar Masood, Director, Centre of Islamic Banking and Finance, University of East London, UK; Lead Advisor and Trainer in the area of Islamic banking and finance worldwide to financial as well as academic institutions; Authored a number of books including the bestselling Truth about the Global Financial Crisis

Laura Páez, Project Manager, Latin American and Caribbean Economic System, Central University of Venezuela, Venezuela

This book focuses on the relationship between FDI and financial service liberalization in the context of the WTO. By conducting an economic assessment on the extent of GATS liberalization in commercial banking it seeks to empirically clarify if the multilateral liberalization efforts under the WTO promote FDI. Contents: Introduction / Understanding Foreign Direct Investment / Applying FDI Theory to Commercial Banking / Multilateral Rules on Financial Services and FDI / GATS Financial Services Liberalization in OECD Members / Assessing FDI Determinants in Commercial Banking / Conclusions July 2011 280pp 15 figures, 12 b/w tables Hardback £60.00

A definitive examination of Islamic banking and finance.

November 2011 304pp Hardback £62.50

216x138mm 978-0-230-33839-5

The Economics of the Middle East Series Editor: Nora Ann Colton http://www.palgrave.com/products/title.aspx?pid=537539

216x138mm 978-0-230-27157-9

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=412979

Contents: Foreword / Introduction: Learning from Failure? / Ethics in Investment Banking: Background and Context / The Framework for Understanding Ethics in Investment Banking / Religion and Investment Banking Ethics / The Two Opposing Views of Investment Banking Ethics: Rights Vs. Duties / Recent Ethical Issues in Investment Banking / Clients and Ethics / Internal Ethical Issues / A New Code of Ethics for Investment Banking September 2011 192pp Hardback £26.00

234x156mm 978-0-230-28508-8

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3

BANKING

Modern Bank Behaviour

PALGRAVE MACMILLAN STUDIES IN BANKING AND FINANCIAL INSTITUTIONS

Juan Fernández de Guevara Radoselovics, Assistant Professor, he has jointly published more than five books and several articles in Spanish and international journals and José Pastor Monsálvez, Associate Professor, both at Universitat de València, Spain (he specialises in banking and regional economics;.

Co-author of thirteen books and has published more than forty articles in academic journals

Series Editor: Philip Molyneux Features international research on contemporary themes in the banking industry. This series also includes studies of banking systems in particular countries or regions, as well as studies of issues which impact and influence systems globally.

Crisis, Risk and Stability in Financial Markets Edited by Juan Fernández de Guevara Radoselovics, Assistant Professor and José Pastor Monsálvez, Associate Professor, both at Universitat de València, Spain

This book presents an in-depth appreciation of topics related to the behaviour of financial institutions in the crisis and stresses areas of major research interest.

It covers a selection of papers ranging from the analysis of bank and stock market performance in the crisis, to microinsurance and social lending.

Contents: Introduction; J.F.de Guevara & J.M.Pastor / Financial Stability and Economic Growth; S.C.Valverde & L.Pedauga / Financial Crisis and EU Banks’ Performance; T.Lindblom & M.Willesson / Diversification, Diversity and Systemic Risk in European Banking; P.Morelli, G.B.Pittaluga & E.Seghezza / Basel III, Pillar 2: The Role of Banks’ Internal Control Systems; E.Gualandri / Shadow Banking and Systemic Risk: In Search for Regulatory Solutions; G.A.Vento & P.la Ganga / Social Lending in Europe: Structures, Regulation and Pricing Models; M.La Torre & F.Mango / Banks Ratings, Financial Crisis and Size of the Entities; C.Salvador, J.M.Pastor & J.F.de Guevara / Stock Exchanges Mergers at the Aftermath of the Crisis.

New Insights; M.Polato & J.Floreani / Sustainability and Financial Inclusion on the Microinsurance; M.de la Cuesta, C.Ruza & F.J.Garayoa August 2012 Hardback

272pp £65.00

An updated insight into the key facts impacting on financial institutions after the financial crisis, highlighting areas of major policy and academic interest. It also includes ten chapters analyzing contrasting issues such as intellectual capital, cost efficiency, bank stability, credit risk and business models for the wealth management industry.

Contents: Introduction; J.F.de Guevara & J.M.Pastor / The Miss-selling of Payments Protection Insurance in Mortgage and Unsecured Lending Markets; J.K.Ashton & R.S.Hudson / The Relationship between Mortgage Credit and Property Prices: The Chinese Case; S.Carbó-Valverde, F.Rodriguez-Fernandez & M.Qi / Bank Restructuring and Bank Stability in Latin America; N.Vo & J.Williams / Monetary Policy and Trade Credit: Evidence for Spain; S.Carbó-Valverde, J.M.Mansilla-Fernández & F.Rodríguez-Fernández / The Assessment of the NSFR Value. Evidence from the Financial Crisis; L.Chiaramonte, B.Casu & R.Bottiglia / Distance and Efficiency in the Italian Banking System; C.Bernini & P.Brighi / Total and Financial Cost Efficiency in Spanish Savings Banks; C.Pérez-Cárceles, J.C.Gómez-Gallego & J.Gómez-García / Empirical Analysis of Intellectual Capital Disclosure Practices in Banks: Spain, Portugal and Greece; G.Gigante & D.A.Previati / Too Small or Too Low? New Evidence on the 4-factor Model; P.Brighi, S.d’Addona & A.Bina / A Business Model Map in the Wealth Management Industry; C.Lucarelli & S.Maggi August 2012 Hardback

272pp £65.00

216x138mm 978-1-137-00185-6

Sovereign Debt Crisis The New Normal and the Newly Poor Dimitris N. Chorafas, has advised financial institutions and industrial corporations since 1961, he is author of more than 150 books, translated in over 16 languages

Restructuring the balance sheets of Western governments, banks and households is an important issue in the recovery after the recent crisis. Chorafas’ latest book focuses on sovereign debt, sovereign risk and the developing economic and financial business climate and explains why the year of the big crisis may fall in the middle of this decade.

Contents: PART I: FINANCIAL RISKS WHICH KEPT PILING UP / The World’s New Normal Economic System / The Newly Poor / The Salient Problem is Rights without Responsibilities / PART II: LOOSE MONETARY AND FISCAL POLICIES LEAD TO THE DESTRUCTION OF WEALTH / Japanification / Conventional and Unconventional Weapons in a Central Bank’s Arsenal / Fiscal Policies, Spending Policies and Conflicting Aims / Restructuring Sovereign Balance Sheets / PART III: EUROLAND’S FINANCIAL INTEGRATION AND SOVEREIGN RISK / Woes of Euroland’s Financial Integration / Sovereign Risk: Case Study on Greece / Germany, France, Britain, Ireland and ‘Club Med’ / PART IV: THE NEW NORMAL’S EFFECT ON THE WESTERN ECONOMY / The North Atlantic Similarities are Greater Than You Think / The Eu’s Banking Industry and its Stress Testing / The Global Systemic Risk has been Programmed for 2014 June 2011 5 figures Hardback

296pp

216x138mm

£65.00

978-0-230-29840-8

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections

Collection of papers presented at the European association of University Teachers of Banking & Finance Conference, Valencia, Spain, 2011

216x138mm 978-1-137-00182-5

Collection of papers presented at the European association of University Teachers of Banking & Finance Conference, Valencia, Spain, 2011

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New

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BANKING

Financial Structures and Regulation

Credit Guarantee Institutions and SME Finance

A Comparison of Crises in the UK, USA and Italy

Edited by Paola Leone, Professor of Banking and Finance, Sapienza University of Rome, Italy and Gianfranco A. Vento, Associate Professor of Banking and Finance, Guglielmo Marconi University, Italy

Alessandro Roselli, Visiting Fellow, Cass Business School, UK, he has written extensively on banking, finance and economic history

‘Dr. Roselli’s book is essential reading for all who wish to understand the recent crisis and make reoccurrence less likely. It combines understanding of history with economic analysis and the experience and knowledge of a practicing central banker. This is political economy at its best – readable, well informed, and thoughtful.’ - Geoffrey Wood, Cass Business School, UK and University of Buckingham, UK A survey of past financial crises, starting with the great banking collapses of the interwar period.

The current turmoil has prompted a number of questions regarding both its origins and ways to avoid its repetition. The historical background and the evolving institutional framework of banking and financial systems are at the centre of this book.

Contents: Introduction / PART I: THE INTERWAR PERIOD / Financial Depth in Three Economies: The UK, the USA, Italy / The Great Depression and Britain / The United States: Boom and Depression / Italy: Finance in a Fascist State / PART II: FINANCIAL STABILITY AND EVOLUTION IN THE POSTWAR DECADES (A ‘GOLDEN AGE’?) / Financial Deepening in the Three Economies / The United Kingdom: Not So Stable / The United States: Big Government and Big Bank / Italy’s Recovery / PART III: THE RECENT PERIOD / The Broad Framework / Financial Structure of the Three Economies: Never So Deep / Growth and Collapse of the Shadow Banking System in the United States / A Severe Test for London as the World Financial Centre / Italy: Financially More Stable, but Structural Problems Persist / Conclusion November 2011 304pp 26 b/w tables and 14 figures Hardback £65.00

This book analyzes and confronts the functioning of guarantee systems for SMEs in countries where these schemes had an important development.

It also highlights how the current financial crisis is modifying the guarantees schemes, through policy maker interventions.

January 2012 384pp 148 b/w tables and 71 figures Hardback £65.00

216x138mm 978-0-230-29539-1

ebook available from: Palgrave Connect Economics & Finance Collections, Amazon Kindle, Dawson ERA, Ebook Library, ebooks.com, Ebrary, Google eBookstore (UK), Myilibrary, NetLibrary

Japan’s Financial Slump Collapse of the Monitoring System under Institutional and Transition Failures Yasushi Suzuki, Professor of Finance, Ritsumeikan Asia Pacific University, Japan

Evaluates the salient features of Japanese relation-based banking, particularly in the post war period, and Anglo-American mode of banking to explain the nature and extent of transition failure that caused prolonged financial and economic slump in Japan.

216x138mm 978-0-230-28494-4

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections April 2011 240pp 24 figures and 23 b/w tables Hardback £68.00

Emerging Asia Essays on Crises, Capital Flows, FDI and Exchange Rates Ramkishen S. Rajan, Associate Professor, School of Public Policy, George Mason University, USA

'...the volume rests on a foundation of extensive and highquality research. It is well written, organized rationally and contains a wealth of bibliographical references and an array of pertinent empirical data.’ - Robert L. Currey Jr. California State University, Asean Economic Bulletin This book takes a look at the different aspects of international economic policy, covering financial crises, reserve accumulation, capital flows and currency wars as well as issues relating to foreign direct investment and developments in China and India.

Contents: PART I: CRISIS, CAPITAL FLOWS AND EXCHANGE RATES IN ASIA / PART II: EXCHANGE RATE VOLATILITY, CRISES AND CONTROLS IN EMERGING ECONOMIES / The Problem with Exchange Rate Volatility / PART III: ASIA AND THE GLOBAL FINANCIAL ARCHITECTUREPART IV: MONETARY AND FINANCIAL ISSUES IN INDIA PART V: FOREIGN DIRECT INVESTMENT ISSUES IN ASIA A Full Table of Contents is Available at: http://www. palgrave.com/products/title.aspx?pid=381812 April 2011 192pp 27 b/w tables and 40 figures Hardback £63.00

216x138mm 978-0-230-23845-9

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216x138mm 978-0-230-29034-1

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5

BANKING

Corporate Income Tax Harmonization in the European Union

PALGRAVE MACMILLAN STUDIES IN BANKING AND FINANCIAL INSTITUTIONS CONT...

Daniela Pîrvu, Lecturer, Department of Economic Theory and Finance, University of Pitesti, Romania

Greek Banking From the Pre-Euro Reforms to the Financial Crisis and Beyond Fotios Pasiouras, Assistant Professor, Technical University of Crete, Greece; Co-Editor of the International Journal of Banking, Accounting and Finance, he has published around 50 papers in international journals

From a period of growth and considerably high levels of profitability, Greek banks recently found themselves battling a major decrease in demand in the local market, and an increase in non-performing loans. How is the Greek banking system able to survive the crisis? This is discussed by looking at the last fifteen years of the Greek banking system.

Contents: Overview of the Greek Banking Sector / Macroeconomic and Institutional Environment / Nonbanking Financial Institutions & Capital Markets / Central Banking and Policy Responses to the Crisis / Supervisory Framework / Retail Banking / Performance of the Banking Sector in Greece / Banking Risks / Corporate Governance / Recent Developments and Future Challenges August 2012 256pp 70 figures and 33 b/w tables Hardback £65.00

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Through the arguments for corporate tax harmonization in the EU and describing the current stage of this process, the legislative rules which are insufficient to solve the many problems implied by the proper functioning of the Single Market, are revealed. The book also exposes the issues involved in the consolidation of the corporate tax base.

Contents: Introduction / The New Harmonization Issue in the European Union / The Evolution of Tax Harmonization in the European Union / The Need for EU Coordination of Corporate Income Taxes: Facts and Statistics / Objectives of the Corporate Tax Income Coordination within the European Union / Coordination Systems of the Corporate Income Tax within the European Union / Effects of the Corporate Income Tax Harmonization / Coordination within the European Union / The Impact Assessment of the Common Consolidated Corporate Tax Base / Supporters and Opponents of the Corporate Tax Income Coordination within the European Union / Conclusion August 2012 224pp 216x138mm 4 b/w tables, 8 figures and 8 diagrams Hardback £65.00 978-1-137-00090-3

216x138mm

Edited by Victor Murinde, Professor of Development Finance, Birmingham Business School, UK

In the wake of the recent financial crisis that has created enormous regulatory risks, changes in the content of banking regulation are crucial.

In this book, policy makers and advisors from central banks across Africa discuss this topical subject, focussing on how to enhance bank competition and intermediation efficiency in the region.

Contents: Preface; W.Lyakurwa / Keynote: Progress with Bank Regulation Reforms in Kenya; N.Ndungu / Bank Regulation in Africa: From Basel I to Basel II, and now at a Crossroads; V.Murinde / A Comparative Overview of Bank Regulatory Experiences and Impact on Bank Competition and Intermediation Efficiency; K.Mlambo, L.Kasekende & V.Murinde / Regulatory Reforms and their Impact on the Competitiveness and Efficiency of the Banking Sector: A Case Study of Kenya; F.Mwega / Bank Competition, Risk Taking and Productive Efficiency: A Case Study of Banking Reforms in Nigeria; T.Zhao / Financial Sector Reforms, Bank Competitiveness, Efficiency and Economic Growth: A Case Study of Zambia; A.Mwenda / Regulatory Lessons from Evidence on Competitiveness and Efficiency of the Banking Sector and Economic Growth in Egypt; S.Poshakwale & B.Qian / The Competitiveness of Financial Services after Bank Restructuring: Lessons from Algeria; H.Salah December 2011 216pp 49 b/w tables and 43 figures Hardback £60.00

978-0-230-35608-5

New

Bank Regulatory Reforms in Africa

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216x138mm 978-0-230-31333-0

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BANKING

The Nigerian Banking Sector Reforms

Bancassurance in Europe Past, Present and Future

Power and Politics

Contents: Preface / Banking Reforms in Emerging Markets: An Introduction / The Nigerian Banking System: The Case for Reforms / Restructuring the Regulator / Does Size Matter? The Quest for Trans-National Banks / Policy on the Run: Inflation, Currency Redenomination and Bank Manipulation / Revaluation / Politics of Banking Reforms / Corporate Governance and Restructuring / The Road Ahead: Sustainability of Bank Reforms / Bibliography / Index December 2011 224pp 7 b/w tables and 8 figures Hardback £65.00

216x138mm 978-0-230-27841-7

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections

Dimitris N. Chorafas has advised financial institutions and industrial corporations since 1961, he is author of more than 150 books, translated in over 16 languages

Edited by Franco Fiordelisi, Associate Professor of Banking and Finance and Ornella Ricci, Assistant Professor of Banking and Finance, both at University of Roma, Italy

Seth Apati, former Journalist, Economist and Adviser to some of Africa's largest banks and multinational corporations

This is the first comprehensive book on the politics and economics of financial sector consolidation in an emerging market in West Africa. It draws on the author’s twenty years experience working with multinationals in this oil-rich zone, to address key issues and examine banking reform in one of the world’s fastestgrowing economies.

Basel III, the Devil and Global Banking

Offers a comprehensive view on bancassurance from its origin to future challenges and opportunities, considering the relevant changes currently interesting the financial services industry.

It also provides a detailed review of theoretical and empirical literature dealing with financial conglomeration.

Contents: Introduction; F.Fiordelisi & O.Ricci / The Development of Bancassurance in Europe; O.Ricci / Bancassurance Products; M.G.Starita / Bancassurance: The Market Reality in Europe; M.Caratelli / The Regulatory Framework; M.G.Starita / Insurance Financial Statements; S.Pucci / Studying the Bancassurance Phenomenon: A Literature Review; O.Ricci / Studying the Bancassurance Phenomenon: An Empirical Exploratory Analysis on a European Sample; F.Fiordelisi & O.Ricci / Studying the Bancassurance Phenomenon: A Two Side Analysis on the Relevant Case of Italy; F.Fiordelisi & O.Ricci / Conclusions; F.Fiordelisi & O.Ricci November 2011 248pp 26 b/w tables and 29 figures Hardback £60.00

216x138mm 978-0-230-27155-5

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections

The banking industry extensively lobbied against Basel III and governments have been keen to delay its full implementation.

Chorafas’ latest book takes a well-rounded approach on Basel III’s strengths and weaknesses and explains how, without deep restructuring of the global banking industry, (like Basel II) Basel III will fail.

Contents: PART I: THE PERPETUAL MOTION OF GLOBAL FINANCE / Finance and Banking are Time and Motion Machines / Global Banking and Systemic Risk / Basel III is a Grand Compromise, Not a Bold Initiative / PART II: BASEL III AND THE NOTION OF GLOBAL RISK / Is it Possible to Regulate Financial Markets in Perpetual Change? / Capital Adequacy and Liquidity. The Devil is in the Detail / Home-Host Issues Haunt Bankers and Regulators / PART III: RISK MANAGEMENT NEEDS A NEW CULTURE / The Concept of Risk Management Must be Thoroughly Revamped / Correlation Risk Overwhelms the Global Banking Industry / Risk Control Requires Authority, Goals and Organization / PART IV: BASEL III SHOULD ALSO ADDRESS THE PERPETUAL MOTION FINANCIAL MACHINE OF SOVEREIGNS AND CENTRAL BANKS / By Salvaging Overleveraged Banks, Sovereigns Propagate Global Systemic Risk / What’s the Sense of Central Banks Interventions?

November 2011 304pp 2 b/w tables and 12 figures Hardback £65.00

216x138mm 978-0-230-35377-0

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1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial

7

BANKING

Bank Performance, Risk and Firm Financing

PALGRAVE MACMILLAN STUDIES IN BANKING AND FINANCIAL INSTITUTIONS CONT...

Edited by Philip Molyneux, Professor of Banking and Finance, Bangor University

European Banking

Özlem Olgu, Assistant Professor of Accounting and Finance, Koç University, Turkey

Contents: Introduction / Creating a Functioning European Union / Enlargement of the European Union / Macroeconomic Structure of the EU Countries / Banking Structures of the EU Countries / Financial Integration, Efficiency and Balance Sheet Structure at European Banking Sector / Global Financial Crisis and State of European Banking Sector / Turkey- A Prospective Member Country / Concluding Remarks October 2011 288pp 62 figures and 50 b/w tables Hardback £65.00

July 2011 320pp 90 b/w tables and 32 figures Hardback £65.00

978-0-230-31335-4

Bank Strategy, Governance and Ratings Edited by Philip Molyneux, Professor of Banking and Finance, Bangor University

A selection of papers that provide insights into research focusing on dimensions of bank strategy, governance and the role of credit rating agencies that were presented at the European Association of University Teachers of Banking and Finance Conference, 2010.

978-0-230-23171-9

New

December 2011 288pp 21 b/w tables and 46 figures Hardback £65.00

216x138mm 978-0-230-34317-7

2nd edition

July 2011 328pp 71 b/w tables and 13 figures Hardback £65.00

216x138mm 978-0-230-31334-7

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8

Addresses the experience of the gold standard peripheries; i.e. regime takers with limited influence on the regime.

How did small countries adjust to an international monetary regime with seemingly little room for policy autonomy?

Banking in China

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections

Hardback: 978-1-4039-4872-4

Edited by Anders Ögren, Uppsala University, Sweden and Lars Fredrik Øksendal, Norwegian School of Economics, Norway

216x138mm

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216x138mm

Please use the following ISBN to order all titles in this series:

Monetary Policy, Adjustment and Flexibility in a Global Setting

Comprizes a selection of papers that provide insights into bank performance, risk and firm financing post crisis that were presented at the European Association of University Teachers of Banking and Finance Conference held at Bangor University, 2010.

Enlargement, Structural Changes and Recent Developments

Despite considerable progress on political and economic convergence over the last decade, financial structures of individual countries within the EU remain diverse. This book considers the future prospects of the banking industry in the context of enlargement, application of the IFRS and a potential new member country, Turkey.

The Gold Standard Peripheries

Available as an ebook

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Violaine Cousin, Credit Analyst, currently based in Germany

Chinese banks have been making headlines recently, but what lies beneath?

Banking in China appears different. What explains the current arrangement?

What can we expect from such a banking industry in the future?

This book answers these two questions in a fully revised second edition and contributes to a new understanding of Chinese banks.

May 2011 360pp 83 b/w tables and 14 figures Hardback £65.00

216x138mm 978-0-230-27269-9

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MONETARY ECONOMICS MONETARY ECONOMICS

Genesis of the Financial Crisis Roderick Macdonald, Professor, Department of Management and Technology, École des Sciences de la Gestion, Canada

A complete and accessible explanation of the factors contributing to the onset of the 2007 financial and economic crisis. The myriad factors are explained in an orderly way with simple terms. The anticipation (or not) and reception of the crisis by mainstream economists and by Austrian economics leads to reflection on the state of economic theory.

Contents: PART I: THE CRISIS OF 2007-2010 / The Nature and Effects of the 2007-2010 Crisis and Ways to Resolve It / The Nature of the 2007 Financial Crisis / An Overview of the ‘Financial Sector’ / Was this a Crisis for Everyone? / Some Effects of the Toxic Assets / First Effect: Difficulties in Routine Economic Transactions / Second Effect: Shrinkage of Habitual Sources of Financing / Third Effect: Deflation / Why we should Care: What Happens if there is No Bailout -the Mainstream View / An Alternative View on the Crisis: Austrian Economics / PART II: THE GENESIS OF THE CRISIS / The Roots of the Crisis / Some Basics About Shelter and Home Ownership / The Historical Context / The Mechanics of the Crisis / Investment Banking and Various Fund Managers / Mortgages and the Hierarchy of Markets: from Construction to Mortgage Backed Securities / Securitization / Imperfections / Three Chronologies and the Genesis of the 2007-2010 Crisis / Overview / Chronology of U.S. Government Interventions in Housing / Spasms in US Housing / The ABCP (Securitization) Bubble that Preceded the 2007 Financial Crisis / Securities / The Ball of Yarn Unravels / Conclusion / PART III: REMEDIES AND REPARTEE Bibliography / Index June 2012 192pp 17 figures and 12 b/w tables Hardback £60.00

216x138mm 978-0-230-29853-8

http://www.palgrave.com/products/title.aspx?pid=505324

HIGHLIGHT The Money Trap Escaping the Grip of Global Finance

Robert Pringle, Chairman and Founder of the Central Banking Journal; Financial Commentator, Consultant, Economics Editor and Entrepreneur Foreword by Lord Skidelsky '...embodies an original, ambitious, bold, and provocative approach to the subject of the crisis and the monetary system...A valuable addition to the literature available for policy makers, analysts, academics and participants in financial markets.' - Dr Y. V. Reddy, Former Governor, Reserve Bank of India 'This book cuts through all the carping and obfuscation to pinpoint the biggest burden on business enterprise: the lack of reliable money.' - Graham Bannock Co-author (with R.E.Baxter), The Palgrave Encyclopedia of World Economic History

'...lucidly written and wide-ranging treatment of the global financial crisis...it will be read with profit by all manner of practitioners and commentators.' - Forrest Capie, Professor Emeritus in Economic History, CASS Business School, London, UK 'It is always very important to review history, particularly the history of past mistakes. By doing that, we can see how we should behave in the future when similar crises hit us. Robert Pringle’s book does exactly that. It contributes greatly to our understanding of the present international financial system.' -Eisuke Sakakibara, Professor of Waseda University, Tokyo and Former Vice Minister of Finance and International Affairs of Japan The world economy is caught in a money trap. Existing monetary arrangements meet the needs neither of the ageing societies of the West nor of younger emerging economies. This in-depth analysis explains how the world got into the grip of global finance - and how it can escape, with a growing demand for reform.

Contents: PART I: IN THE TRAP / Into the Danger Zone / Why Players Need a New Rulebook /

How Monetary Systems are Born / World Money without an Anchor / PART II: SEARCHING FOR WAYS OUT / Improving National Policies / A Solution for the Eurozone / Money International / PART III: FOUR KEY ISSUES / Those Global Imbalances / The Reserve Currency Overhang / Can Banks Be Made Safe? / Markets, States and Bubbles / PART IV: HARNESSING THE POWER OF GLOBAL FINANCE / 100 Years of Currency Plans / The Choice of the Standard / Towards a Real Global Currency / The Emerging Global Financial System

URL: www.themoneytrap.com http://www.palgrave.com/products/title.aspx?pid=570897 May 2012 Hardback

304 pp £65.00

216x138mm 978-0-230-39274-8

Order securely online at www.palgrave.com or telephone +44 (0)1256 302866

9

MONETARY ECONOMICS · QUANTIATIVE METHODS

The Global Curse of the Federal Reserve

Central Banks and Coded Language Risks and Benefits

Manifesto for a Second Monetarist Revolution Brendan Brown, Executive Director and Head of Economic Research, Mitsuibishi (UFJ) Securities International plc, UK

‘Brendan Brown, première market economist, draws on his deep knowledge of economics, history and markets to expose the Fed as a great destabilizing force.’

- Steve H. Hanke, Professor of Applied Economics, Johns Hopkins University, USA This book reveals how the Global Credit Bubble and Bust of 2003-10 stemmed from giant monetary disequilibrium created by the Federal Reserve.

Almost continually that institution has pursued flawed monetary practice and principle which has mutated into Bernanke-ism. The book dissects this and shows how it threatens the return of economic prosperity.

Contents: A 100-Year Monetary Disorder / Phobia of Deflation Menaces Prosperity / Manifesto for a Second Monetarist Revolution / Currency War Machine / Revolt Against Bernanke-ism July 2011 Hardback

200pp £65.00

Elke Muchlinski, Lecturer in Economics, Free University, Berlin

Explores the implications of the modern view of central banks rising from the proposition that words have no meaning beyond their use in a particular context and setting. It studies coded language to explain why a central bank’s decisions and communicative interactions can’t be devoted to a coded language which is an artificial language.

Contents: Introduction / The Way Out of ‘Monetary Mystique’ / A Conceptual Framework for Central Bank Communication / Central Banking and Communication as a Function of Circumstance / Economics and Language / Language Expectations / Conclusion / Bibliography May 2011 Hardback

280pp £68.00

216x138mm 978-0-230-23228-0

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=365488

216x138mm 978-0-230-29027-3

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=491554

QUANTITATIVE METHODS

Essential Quantitative Methods For Business, Management and Finance 5th edition Les Oakshott, Associate Fellow, Warwick Business School, University of Warwick, UK

‘A beautifully produced text. This new edition must surely be one of the most friendly and effective offerings in the field. Seriously impressive.’ - Jim Freeman, University of Manchester, UK A great value, student-friendly introduction to quantitative methods. The book covers the essentials, whilst also appealing to more advanced students. Focused on problem-solving in a real business context, with plenty of pedagogical features and real world examples, students are guided through the subject clearly and methodically.

Contents: Preface / Notes / Acknowledgements / PART I: MATHEMATICAL APPLICATIONS / Revision Mathematics / Keeping up with Change: Index Numbers / PART II: COLLECTING & INTERPRETING DATA / Collecting Data: Surveys and Samples / Finding Patterns in Data: Charts and Tables / Making Sense of Data: Averages and Measures of Spread / PART III: PROBABILITY & STATISTICS / Taking a Chance: Probability / The Shape of Data: Probability Distributions / Interpreting with Confidence: Analysis of Sample Data / Checking Ideas: Testing a Hypothesis / Cause and Effect: Correlation and Regression / PART IV: DECISION MAKING TECHNIQUES / How to Make Good Decisions / Choosing Wisely: Investment Appraisal / Forecasting: Time Series Analysis / Making the Most of Things: Linear Programming / Planning Large Projects: Network Analysis / Appendices / Index February 2012 Paperback

512pp £37.99

246x189mm 978-0-230-30266-2

http://www.palgrave.com/products/title.aspx?pid=507965

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QUANTIATIVE METHODS

Quantitative Methods

Economic Forecasting and Policy

for Business, Management and Finance 3rd edition

2nd edition Nicolas Carnot, French Ministry of Finances, France, Vincent Koen, Principal Economist OECD, France and Bruno Tissot, Senior Economist, Bank for International Settlements, Switzerland

Louise Swift and Sally Piff, both at University of East Anglia, UK

'This is one of the best statistics textbooks I've read.The way this book combines statistical theory with real data (using SPSS) is excellent.' - John Simister, Management Department, Birkbeck College, University of London, UK Quantitative Methods is a comprehensive guide to the techniques any student of business or finance is likely to need. The authors' coaching, learning-by-doing approach coupled with the text's clear structural outline makes these essential mathematical skills far less daunting.

Contents: PART I: ESSENTIAL MATHS / Numbers and Symbols / Simplifying Expressions / Solving Problems / Modelling Using Straight Lines / PART II: MORE MATHS / Some Special Equations / Modelling Using Curves / Rates of Change / PART III: DESCRIBING DATA / Pictures of Data / Summarising Data /PART IV: PROBABILITY / Measuring Uncertainty / Numerical Outcomes / Continuous Numerical Outcomes / Some More Probability Distributions / PART V: STATISTICS / Estimation / Testing Hypotheses / Correlation & Regression / Comparing Two Populations / Nonparametric Methods / Categorical Data / Forecasting / Statistics in Practice / PART VI: BUSINESS MODELLING / Linear Programming Models / Planning Projects / Models for Inventory Control / Time and Money / Decision Making / Simulating Reality / Controlling Quality / STATISTICAL TABLES / Cumulative Binomial Probabilities / Cumulative Standard Normal Probabilities / Percentage Points of the Standard Normal Distribution / Random Digits / Percentage Points of the Distribution / Percentage Points of the x2 Distribution March 2010 Paperback

856pp £39.99

246x189mm 978-0-230-21824-6

http://www.palgrave.com/products/title.aspx?pid=301344

Economic Forecasting provides a comprehensive overview of macroeconomic forecasting. The focus is first on a wide range of theories as well as empirical methods: business cycle analysis, time series methods, macroeconomic models, medium and long-run projections, fiscal and financial forecasts, and sectoral forecasting.

July 2011 520pp 30 b/w tables and 37 graphs Hardback £65.00 Paperback £30.00

234x156mm 978-0-230-24321-7 978-0-230-24322-4

http://www.palgrave.com/products/title.aspx?pid=394746

Applied Econometrics 2nd edition Dimitrios Asteriou, Associate Professor of Quantitative Methods, Hellenic Open University, Greece and Stephen G. Hall, Professor of Economics, University of Leicester, UK

The second edition of this highly successful text refines existing strengths and adds significant new material expanding the scope of the book and making it a more flexible teaching tool. In addition to providing instructions for performing all tests in EViews and Microfit, the book now includes instructions for STATA.

The Practice of Statistics for Business and Economics International Version 3rd edition David S. Moore, George P. McCabe, Bruce Craig, all at Purdue University, USA, Layth Alwan, University of Wisconsin-Milwaukee, USA and William M. Duckworth, Creighton University, USA

Immerses students in the course immediately, involving them in practical, statisticssupported business decision making from the outset. Using real data to provide a context for tackling modern business problems, it introduces a range of core ideas early - including data production and interpretation.

Contents: PART I: DATA / Examining Distributions / Examining Relationships / Producing Data / PART II: PROBABILITY AND INFERENCE / Probability and Sampling Distributions / Probability Theory / Introduction to Inference / Inference for Distributions / Inference for Proportions / PART III: TOPICS IN INFERENCE / Inference for Two-Way Tables / Inference for Regression / Multiple Regression / Statistics for Quality: Control and Capability / Time Series Forecasting / One-Way Analysis of Variance / PART IV: OPTIONAL INDIVIDUAL COMPANION CHAPTERS / Two-Way Analysis of Variance / Nonparametric Tests / Logistic Regression May 2011 Pack

787pp £52.99

253x210mm 978-1-4292-9014-2

Published by W. H. Freeman http://www.palgrave.com/products/title.aspx?pid=527096

June 2011 528pp 246x189mm 152 b/w tables, 65 figures Paperback £35.99 978-0-230-27182-1 http://www.palgrave.com/products/title.aspx?pid=395937

1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial

11

FINANCE AND FINANCIAL MARKETS FINANCE AND FINANCIAL MARKETS

Money, Banking, and Financial Markets

Discounting, Libor, CVA and Funding

Credit Scoring, Response Modeling, and Insurance Rating

Interest Rate and Credit Pricing

A Practical Guide to Forecasting Consumer Behavior 2nd edition

Chris Kenyon, Quantitative Analyst and Vice President, Credit Suisse, formerly Associate Director, DEPFA Bank PLC and a regular writer and conference speaker, his papers have appeared in International Journals and Roland Stamm, Managing Director, Depfa Bank, Frankfurt, Germany

2nd edition Laurence M. Ball, Professor of Economics, Johns Hopkins University, USA

This is a breakthrough text that closes the gap between economic theory and the day-today behaviour of banks and financial markets.

Working from a macro framework based on the Fed’s use of interest rate, Ball presents the core concepts necessary to understand the problems of the stock market and the causes of recessions and banking crises Contents: PART I. FOUNDATIONS / The Financial System / Money and Central Banks / PART II: FINANCIAL MARKETS / Asset Prices and Interest Rates / What Determines Interest Rates? / Securities Markets / Foreign Exchange Markets / PART III: BANKING / Asymmetric Information in the Financial System / The Banking Industry / The Business of Banking / Bank Regulation / PART IV: MONEY AND THE ECONOMY / The Money Supply and Interest Rates / Short-Run Economic Fluctuations / Economic Fluctuations, Monetary Policy and the Financial System / Inflation and Deflation / PART V: MONETARY POLICY / Policies for Economic Stability / Monetary Institutions and Strategies / Monetary Policy and Exchange Rates / Financial Crises January 2012 Hardback

608pp £48.99

The credit and sovereign debt crises have fundamentally changed the way participants in the global financial markets perceive credit risk. The effects of this change have been studied by many leading experts in Mathematical Finance, but to date there is no single volume that combines the results of this research and presents them at a level suited for practitioners and students alike. This book aims to close this gap and make the reader familiar with the new way of pricing interest rate and credit products in the post-crisis markets.

Coverage includes: Discounting Future Cash Flows /Building Appropriate Interest Curves / The Different Kinds of Credit and Basis Spreads/ Why Even the Simplest Financial Products can Suddenly be Difficult to Price / What is the Nature of CSA, CVA and OIS? / What does Basel III have to do with all this?

August 2012 HardbacK

170pp £39.99

234x156mm 978-1-137-26851-8

Steven Finlay, Head of Analytics, HML, UK

A guide to how Predictive Analytics is applied and widely used by organizations such as banks, insurance providers, supermarkets and governments to drive the decisions they make about their customers.

Examples include who to target with a promotional offer, who to give a credit card to and the premium someone should pay for home insurance.

Contents: Introduction / Project Planning / Sample Selection / Gathering and Preparing Data / Understanding Relationships in Data / Data Transformation (Preprocessing) / Model Construction (Parameter Estimation) / Validation, Model Performance and Cut-off Strategy / Sample Bias and Reject Inference / Implementation and Monitoring / Multi-model (Fusion) Systems / Further Topics / Bibliography August 2012 304pp 32 figures and 31 b/w tables Hardback £65.00

216x138mm 978-0-230-34776-2

http://www.palgrave.com/products/title.aspx?pid=532803

234x156mm 978-1-4292-4409-1

Follow Palgrave Macmillan on Facebook®. Become a ‘fan’ of our Facebook® page to get the latest news, reviews and event invites. www.facebook.com/PalgraveMacmillan

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FINANCE AND FINANCIAL MARKETS

Private Company Valuation How Credit Risk Reshaped Equity Markets and Corporate Finance Valuation Tools

Finance, Investment Banking and the International Bank Credit and Capital Markets

Gianluca Oricchio, Professor of Finance and Capital Markets, Campus Bio-Medico University, Italy

A Guide to the Global Industry and its Governance in the New Age of Uncertainty

The recent crisis in financial markets has seen a gradual erosion of risk-free asset classes. In equity markets the credit risk has reached a critical level in valuation. A new method for estimating the cost of equity for Private Companies is presented. Global business cases are illustrated to support this.

Contents: Introduction / Private Companies' Equity Valuation Methods / Cost of Equity for Private Companies: The Integrated Pricing Model / Integrated Pricing Model in USA / Integrated Pricing Model in Japan / Integrated Pricing Model in China / Integrated Pricing Model in Russia / Integrated Pricing Model in India / Integrated Pricing Model in Italy August 2012 294pp 109 figures, 124 b/w tables Hardback £60.00

234x156mm 978-0-230-29144-7

http://www.palgrave.com/products/title.aspx?pid=493567

Islamic Economics and Finance A European Perspective Edited by Jonathan Langton, Cristina Trullols, Professor, both at IE Business School, Spain and Abdullah Q. Turkistani, Director, Islamic Economics Research Center, King Abdulaziz University, Saudi Arabia

The global economic crisis has driven many economists to seek alternatives to the western capitalist model. This book is a collection of papers from the world's most eminent scholars, discussing how this alternative philosophy can be applied in western markets.

November 2011 216pp 3 b/w tables and 8 figures Hardback £60.00

216x138mm 978-0-230-30027-9

IE Business Publishing ebook available from: Palgrave Connect Economics & Finance Collections

Brian Scott-Quinn, Chairman, ICMA Centre for Financial Markets, Henley Business School , UK

An introductory guide to finance and the financial markets, designed to help professionals and students understand the complex finance industry. This is a modern text that covers all major developments in markets in the period since the year 2000, the beginning of the global financial, eurozone and US government debt crises, up to the start of 2012.

Contents: PART 1: THE FUNDAMENTALS OF FINANCE, MARKETS AND THE FINANCIAL FIRMS / PART 2: PRIMARY MARKETS: FUNDING LIQUIDITY AND EXTERNAL CAPITAL ALLOCATION THROUGH CREDIT AND CAPITAL MARKETS / PART 3: SECONDARY MARKETS: MARKET LIQUIDITY AND MARKET FAILURE / PART 4: ASSESSING AND MANAGING RISK IN ASSET PORTFOLIOS / PART 5: INTERNAL CAPITAL ALLOCATION: THE ROLE OF DIRECTORS, INVESTORS AND THE MARKET FOR CORPORATE CONTROL / PART 6: INTERNAL RISK MANAGEMENT AND EXTERNAL REGULATION OF FINANCIAL INTERMEDIARIES AND MARKETS/ PART 7: THE ROLE OF GOVERNANCE AND STRATEGY IN RESOURCE ALLOCATION, FIRM AND INDUSTRY STRUCTURE: CASE STUDIES IN FINANCIAL SERVICES

Financialization and Government Borrowing Capacity in Emerging Markets Iain Hardie, Lecturer in International Relations, University of Edinburgh, UK

Hardie investigates the link between the financialization – defined as the ability to trade risk – and the capacity of emerging market governments to borrow from private markets. He considers the government bond markets in Brazil, Lebanon and Turkey and includes interviews with 126 financial market actors.

March 2012 232pp 16 b/w tables and 3 figures Hardback £57.50

416 pp

246x189mm

£29.99

978-0-230-37047-0

978-0-230-36055-6

International Political Economy Series Series Editor: Timothy M. Shaw http://www.palgrave.com/products/title.aspx?pid=533820

Private Equity The German Experience

A Full Table of Contents is Available at: http://www. palgrave.com/products/title.aspx?pid=566141 June 2012 113 figures Hardback

216x138mm

Paul Jowett, Partner of Roland Berger Strategy Consultants, based in Munich, Germany and Francoise Jowett, has held positions in recruitment and strategy consulting

Tells the story of the development of the private equity industry in Germany. It is the first comprehensive history of the private equity industry for any country, revealing the vicissitudes of private equity investing, warts and all. It is an engaging chronicle for anyone interested in the industry or the modern German economy.

January 2011 648pp 216x138mm 50 b/w photographs and 30 b/w tables Hardback £79.00 978-0-230-53776-7 http://www.palgrave.com/products/title.aspx?pid=281115

Order securely online at www.palgrave.com or telephone +44 (0)1256 302866

13

FINANCE AND FINANCIAL MARKETS

Neoliberalism in Crisis Edited by Henk Overbeek, Professor of International Relations and Bastiaan van Apeldoorn, Reader in International Relations, VU University, The Netherlands

The authors interrogate the condition of the neoliberal project in the wake of the global crisis and neoliberalism’s predicted death in 2007, both in terms of the regulatory structures of finance-led capitalism in Europe and North America, and the impact of new centres of capitalist power on global order.

February 2012 280pp 3 b/w tables and 9 figures Hardback £57.50

216x138mm 978-0-230-30163-4

International Political Economy Series Series Editor: Timothy M. Shaw ebook available from: Palgrave Connect Political & International Studies Collections http://www.palgrave.com/products/title.aspx?pid=507839

Marketing Shares, Sharing Markets

The Efficient Market Hypothesists

Experts in Investment Banking

Bachelier, Samuelson, Fama, Ross, Tobin and Shiller

Jesper Blomberg, Hans Kjellberg, both Associate Professors, Stockholm School of Economics, Sweden and Karin Winroth, Assistant Professor, Södertörn University, Sweden

Introduces the reader to investment banking by analyzing the practices of traders, analysts, brokers and bankers it reveals how their contrasting perspectives on shares are put to use and the consequences this has for investment banks, corporations, investors and the stock markets.

Contents: Understanding Investment Banking Practices / A Brief History of Investment Banking / Traders Activating the Stock Markets / Analysts Doing Stock Market Science – Sort of / Brokers Selling Investment Advice / Bankers - Matchmaking and Midwifery / The Birth of a Share / Behind the Scenes: Management, Risk and Compliance / Organizing Investment Banking / Enacting Stock Markets / Appendix: A Note on Methods December 2011 272pp 8 b/w tables and 25 figures Hardback £65.00

Challenging Global Finance Civil Society and Transnational Networks Elizabeth Friesen, Lecturer in Political Science, Carleton University, Canada

216x138mm 978-0-230-28067-0

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=478164

Friesen demonstrates how transnational CSOs and NGOs can influence the context in which international political decisions are made. She shows how, by reframing the issues, the transnational campaign for the cancellation of third world debt altered the dominant discourse, shifted the agenda and thereby shaped political outcomes.

January 2012 Hardback

232pp £57.50

Colin Read, Professor of Economics and Finance, SUNY College at Plattsburgh, USA

Describes the lives, theories, and legacies of six great minds in finance who changed the way we look at financial markets and equilibrium. Bachelier, Samuelson, Fama, Ross, Tobin, and Shiller; proponents and critics of the market efficiency theories who redefined modern finance, creating the foundation on which all financial analysis rests.

Contents: Preface to the Great Minds in Finance Series / Preamble / Introduction / PART ONE: LOUIS BACHELIER – THE FIRST PHYSICIST FINANCIAL THEORIST / Louis Bachelier - The Early Years / The Times / The Theory / Discussion and Applications / Life and Legacy / PART TWO: PAUL SAMUELSON'S RANDOM WALK / Paul Samuelson - The Early Years / The Times / The Theory / Discussion and Applications / The Nobel Prize, Life and Legacy / PART THREE: EUGENE FAMA'S EFFICIENT MARKET HYPOTHESIS / Eugene Fama - The Early Years / The Times / The Theory / Discussion and Applications / Career and Legacy / PART FOUR: STEPHEN ROSS AND ARBITRAGE PRICING THEORY / Stephen Alan Ross The Early Years / The Times / The Theory / Discussion and Applications / Career and Legacy / PART FIVE: JAMES TOBIN AND A NEW POLICY / James Tobin - The Early Years / The Times / The Theory / Discussion and Applications / The Nobel Prize, Life, and Legacy / PART SIX: ROBERT SCHILLER AND IRRATIONAL EXUBERANCE / Robert Shiller - The Early Years / The Times / The Theory / Discussion and Applications / Career and Legacy / PART SEVEN: WHAT WE HAVE LEARNED / Combined Contributions / Conclusions / Glossary / Index / Endnotes September 2012 256pp Hardback £65.00

216x138mm 978-0-230-27421-1

Great Minds in Finance Series Editor: Colin Read http://www.palgrave.com/products/title.aspx?pid=416233

216x138mm 978-0-230-34879-0

International Political Economy Series Series Editor: Timothy M. Shaw

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FINANCE AND FINANCIAL MARKETS

The Rise of the Quants

The Life Cyclists

The Portfolio Theorists

Marschak, Sharpe, Black, Scholes and Merton

Fisher, Keynes, Modigliani and Friedman

von Neumann, Savage, Arrow and Markowitz

Colin Read, Professor of Economics and Finance, SUNY College at Plattsburgh, USA

Colin Read, Professor of Economics and Finance, SUNY College at Plattsburgh, USA

Colin Read, Professor of Economics and Finance, SUNY College at Plattsburgh, USA

The third book in the Great Minds in Finance series examines the pricing of securities and the risk/reward trade off through the legends, contribution, and legacies of Jacob Marschak, William Sharpe, Fischer Black and Myron Scholes, and Robert Merton, influencing both theory and practice, answering the question ‘how do we measure risk?’

Read addresses the contributions of significant individuals to our understanding of financial decisions and markets. Great financial theorists created the basis for what we now know as personal finance and this volume describes four great minds in finance that forever established the role of the rate of return and life cycle decision-making.

Examines probability, risk, and uncertainty through the contributions of John von Neumann, Leonard Jimmie Savage, Kenneth Arrow and Harry Markowitz. These Portfolio Theorists provided us with a dramatic leap forward in our understanding of and insights into financial rewards under risk and uncertainty.

Contents: Preface to the Series / Introduction / A Roadmap to Resolve the Big Questions / PART I: JACOB MARSCHAK / The Early Years / The Times / The Theory / Applications / Life and Legacy / PART II: WILLIAM FORSYTH SHARPE, JOHN LINTNER, JAN MOSSIN, AND JACK TREYNOR / The Early Years / The Times / The Theory / Applications / The Nobel Prize, Life, and Legacy / PART III: FISCHER BLACK AND MYRON SCHOLES / The Early Years / The Times / The Theory / Applications / The Nobel Prize, Life, and Legacy / PART IV: ROBERT MERTON / The Early Years / The Times / The Theory / Applications / The Nobel Prize, Life, and Legacy / PART V: WHAT WE HAVE LEARNED / Combined Contributions / Conclusions / Glossary / Index / Endnotes

Contents: Preface to the Great Minds in Finance Series / Introduction / A World before Fisher / PART I: IRVING FISHER / The Early Years / The Times / The Theory / Applications / Life and Legacy / PART II: JOHN MAYNARD KEYNES / The Early Years / The Times / The Theory / Applications / Life and Legacy / PART III: FRANCO MODIGLIANI / The Early Years / The Times / The Theory / Applications / The Nobel Prize, Life, and Legacy / PART IV: MILTON FRIEDMAN / The Early Years / The Times / The Theory / Applications / The Nobel Prize, Life, and Legacy / PART V: WHAT WE HAVE LEARNED / Combined Contributions / Conclusions

Contents: Introduction / A Roadmap to Resolve the Big Question / PART I: JOHN VON NEUMANN / The Early Years for John von Neumann and Oskar Morgenstern / The Times and the Beginning of an Era / The Theory of von Neumann and Morgenstern / Applications and Elaborations of the von Neumann-Morgenstern Model / The Later Life and Legacy of John von Neumann and Oskar Morgenstern / PART II: LEONARD JIMMIE SAVAGE / The Early Years / Friedman and Savage’s Times / The Theory of Friedman and Savage / Applications of the Concept of Subjective Probabilities / Savage’s Later Life and Legacy / PART III: KENNETH J. ARROW / Arrow’s Early Years / The Times / Arrow’s Great Idea / Applications of the Contingent Claims Model / Arrow’s Life, Legacy, and the Nobel Prize / PART IV: HARRY MARKOWITZ / The Early Years of Harry Markowitz / The Times and a New Paradigm in Personal Finance / The Theory of an Efficient Portfolio / Applications of Portfolio Theory / The Nobel Prize, Life, and Legacy of Harry Markowitz / PART V: WHAT WE HAVE LEARNED / Combined Contributions in Portfolio Theory / Conclusions

July 2012 10 figures Hardback

208pp £65.00

216x138mm 978-0-230-27417-4

Great Minds in Finance Series Editor: Colin Read http://www.palgrave.com/products/title.aspx?pid=416231

October 2011 232pp 17 figures and 4 b/w tables Hardback £60.00

216x138mm 978-0-230-27413-6

Great Minds in Finance Series Editor: Colin Read ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections

December 2011 240pp 20 figures and 1 b/w table Hardback £65.00

216x138mm 978-0-230-27414-3

Great Minds in Finance Series Editor: Colin Read ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections

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15

FINANCE AND FINANCIAL MARKETS

Regulating Corporate Governance in the EU

The Spanish Financial System

Minding the Markets

Growth and Development Since 1900

An Emotional Finance View of Financial Instability

Towards a Marketization of Corporate Control

José Luis Malo de Molina, Director General, Research Department, Banco de España, Spain and Pablo Martín-Aceña, Professor of Economics and Economic History, Universidad de Alcalá de Henares, Spain

Laura Horn, Assistant Professor of International Relations, Department of Political Science, VU University, The Netherlands

In the context of the financial and economic crisis, corporate governance and regulatory supervision failures, Laura Horn investigates one of the defining questions in social power relations in contemporary capitalism: who controls the modern corporation, and why.

November 2011 240pp Hardback £57.50

216x138mm 978-0-230-24750-5

International Political Economy Series Series Editor: Timothy M. Shaw http://www.palgrave.com/products/title.aspx?pid=400349

Private Ratings, Public Regulations Credit Rating Agencies and Global Financial Governance Andreas Kruck, Teaching and Research Associate, Ludwig Maximilian University of Munich, Germany

224pp £57.50

Contents: Introduction / Spain in the 20th Century: The End of the Exception?; S.Juliá / A Century of the Spanish Economy; G.Tortella & J.L.Garcia Ruiz / The Main Reforms of the Spanish Financial System; M.Á.Pons / The Spanish Banking System from 1900 to 1975; P.Martin-Aceña / The Savings Banks: 1900-1975; F.Comín / The Macroeconomic Basis of the Recent Development of the Spanish Financial System; J.L.Malo de Molina / Banking Supervision and Regulation over the Past 40 Years; R.Poveda / Spanish Securities Markets: Recent Developments and Key Challenges; F.Restoy & R.S.de la Peña / Integration, Competition and Stability of the Financial System; J.Saurina / The Internationalization of the Spanish Financial System; Á.Berges, E.Ontiveros & F.J.Valero / The Spanish Financial Industry at the Start of 21st Century: Current Situation and Future Challenges; X.Vives November 2011 464pp Hardback £70.00

Credit rating agencies play a powerful and contentious role in the governance of global financial markets.

Introducing an original framework for delegating political authority to private actors, this book explains common trends in the regulatory use of private ratings for public purposes and analyzes regulatory changes after the financial crisis.

May 2011 Hardback

Analyzes the Spanish financial system from the turn of the last century to the present day and the economic, social and political backdrop to this history. The result is a consummate survey of historical developments leading right up to today’s key issues and challenges, and to what the future may hold.

246x189mm 978-0-230-35004-5

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=535532

David Tuckett, Visiting Professor, Psychoanalysis Unit, University College London, UK

‘Minding the Markets is a real contribution...a book the world really needs.’

- George Akerlof, Nobel Laureate and American Economist ‘Read this book if you want to understand the behaviour of financial markets.’ - Mervyn King, Governor of the Bank of England ‘...fascinating reading...As someone who spent 20 years working as an economist in the fund management industry, I found much in it that rang true and I would strongly recommend it to economists working in the financial sector, or to anyone with an interest in how financial markets work.’ - Tony Dolphin, Senior Economist, Institute for Public Policy Research, The Business Economist Tuckett argues that most economists’ explanations of the financial crisis miss its essence; they ignore critical components of human psychology. He offers a deeper understanding of financial market behaviour and investment processes by recognizing the role played by unconscious needs and fears in all investment activity.

Contents: The Special Characteristics of Financial Assets / Four Fund Managers / Narratives, Minds and Groups / Divided States / Finding Phantastic Objects / Experiencing News / Divided Masters / Experiencing Success and Failure / Emotional Finance and New Economic Thinking / Making Markets Safer May 2011 3 b/w tables Hardback

256pp

234x156mm

£26.00

978-0-230-29985-6

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=507522

216x138mm 978-0-230-28223-0

Transformations of the State Series Editors: Stephan Leibfried and Achim Hurrelmann

16

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Comes with a CD/DVD

FINANCE AND FINANCIAL MARKETS

How Ireland Voted 2011

Crisis

The Full Story of Ireland’s Earthquake Election

Cause, Containment and Cure

The Future of Insurance Regulation and Supervision

2nd edition

A Global Perspective

Michael Gallagher, Professor of Comparative Politics and Michael Marsh, Professor of Comparative Political Behaviour, both at Trinity College, University of Dublin, Republic of Ireland

The collapse of the Irish ‘Celtic Tiger’ economy, in the wake of a banking disaster, provoked a joint EU/IMF rescue plan in late 2010. The election that followed saw Europe’s most successful ever party lose more than half of its vote and almost three quarters of its seats. This book provides the definitive analysis of an electoral earthquake.

October 2011 Hardback Paperback

352pp £65.00 £22.99

216x138mm 978-0-230-34881-3 978-0-230-34882-0

http://www.palgrave.com/products/title.aspx?pid=531314

Legacy of the Crash How the Financial Crisis Changed America and Britain Edited by Terrence Casey, Associate Professor of Political Science and Head of Department, Rose-Hulman Institute of Technology

When the global financial system crashed, governments in America and Britain perfomed the greatest bailout in history. The legacy is record government debt, low growth and a new era of austerity. A stellar cast of contributors, provide a sophisticated account of how the administrations are faring since the crash.

September 2011 312pp Hardback £65.00 Paperback £19.99

216x138mm 8 b/w tables 978-0-230-30458-1 978-0-230-30459-8

Patrick M. Liedtke, Secretary General and Managing Director, The Geneva Association, Switzerland and Jan Monkiewicz, Professor of Financial Management, Warsaw University of Technology, Poland

Thomas F. Huertas, Director of the Banking Sector, FSA (Financial Services Authority), he has written extensively on banking and financial regulation

A thorough analysis of the current financial/ economic crisis from the Director of the Banking Sector at the FSA. This edition is updated to take account of changes in regulation and legislation in the US, EU and UK. Many of these changes were in line with the recommendations the author made in the first edition.

Contents: Introduction / PART I: CAUSE / Rational Exuberance / Too Much of a Good Thing / PART II: CONTAINMENT / Conditional Containment / Moving towards Meltdown / Unconditional Containment / PART III: CURE / Better Macroeconomic Policy / Better Resolution / Better Deposit Guarantee Schemes / Better Regulation / Better Supervision / Conclusion / Notes / References / Index July 2011 Paperback

256pp £18.99

216x138mm 978-0-230-29831-6

http://www.palgrave.com/products/title.aspx?pid=504422

'Written by leading academics, researchers and insurance industry experts, and deals with the aftermath of the recent financial crisis and the implications that it might have on the future of insurance regulation and supervision.’ - Efma Journal Offers a diversified perspective on how the regulatory and supervisory framework for the insurance sector will develop over the coming years. It is supported by The Geneva Association, the world-leading insurance think-tank for insurance and risk management issues.

Contents: PART I: THE GLOBAL FRAMEWORK / PART II: THE SUPERVISORY DIMENSION/ PART III: MARKET DIMENSION / PART IV: STAKEHOLDER PROTECTION / PART V: DEVELOPED MARKETS PERSPECTIVE / PART VI: EMERGING MARKETS PERSPECTIVE / PART VII: INTERNATIONAL ISSUES A Full Table of Contents is Available at: http://www. palgrave.com/products/title.aspx?pid=496066

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April 2011 472pp 234x156mm 46 figures, 21 b/w tables and 1 illustration Hardback £130.00 978-0-230-29269-7

@Palgrave_Press for the latest news, events and competitions www.twitter.com/Palgrave_Press

Order securely online at www.palgrave.com or telephone +44 (0)1256 302866

17

FINANCE AND FINANCIAL MARKETS

Finance & Financial Markets

Basel III Credit Rating Systems

3rd edition

An Applied Guide to Quantitative and Qualitative Models Keith Pilbeam, Professor of International Economics and Finance, City University, London, UK

'A superb blend of theory, recent practical examples and data analysis allowing students to gain a thorough understanding of the workings of financial markets and of financial instruments amongst various financial issues. It presents an outstanding and unique review of the recent credit crunch with valuable insights and considerable details of its causes and impacts. Students will benefit by working through the challenging questions at the end of each chapter. - Jassodra Maharaj, Senior Lecturer in Economics, Royal Docks Business School, University of East London, UK Finance & Financial Markets is a comprehensive and accessible introduction to finance, making the operation of financial institutions, markets and instruments readily understandable for students on business, economics and finance courses and those wanting to understand the workings of the financial world.

Luisa Izzi, Head of Model Validation Office, BNL-BNP Paribas, Italy, Gianluca Oricchio, Professor of Finance and Capital Markets, Campus Bio-Medico University, Italy and Laura Vitale, Head of Internal Rating Agency, BNL-BNP Paribas, Italy

A comprehensive guide to quantitative and qualitative rating assessments with up-todate methodologies in the international banking system.

Contents: PART I: THE QUANTITATIVE APPROACH TO CREDIT RATING MODELS / PART II: THE QUALITATIVE APPROACH TO CREDIT RATING MODELS / PART III: RATING ASSIGNMENT ON SPECIALIZED LENDING / PART IV: RISK ADJUSTED CREDIT PRICING MODELS December 2011 368pp 72 b/w tables and 90 figures Hardback £135.00

234x156mm 978-0-230-29424-0

The Economics of the Financial Crisis

Contents: The World of Finance / Financial Intermediation and Financial Markets / Financial Institutions / Monetary Policy and Interest Rate Determination / Domestic and International Money Markets / The Domestic and International Bond Market / Portfolio Analysis: Risk and Return in Financial Markets / The Capital Asset Pricing Model / Stockmarkets and Equities / The Efficiency of Financial Markets / The Foreign Exchange Market / Theories of Exchange Rate Determination / Financial Futures / Options / Option Pricing / Swap Markets / Financial Innovation and the Credit Crunch / Regulation of the Financial Sector

Lessons and New Threats

March 2010 544pp 70 figures and 80 tables Paperback £41.99

Contents: PART I: A BRIEF HISTORY OF SCARY TIMES PART II: GLOBALIZATION: HOPES, FEARS AND SHIFTING POWERS/ PART III: LESSONS RIGHT AND WRONG / PART IV: THE WAY FORWARD

246x189mm 978-0-230-23321-8

http://www.palgrave.com/products/title.aspx?pid=355758

Marco Annunziata, Chief Economist, General Electric

Through the tools of economics, Annunziata’s vivid and gripping book shows how the global financial crisis was caused by a failure of leadership and common sense in which we all played a role.

September 2011 248pp 20 charts Hardback £135.00

18

New

Available as an ebook

International Loan Documentation Sue Wright, International Finance Consultant, UK

A detailed study of the terms of international loan documentation with comprehensive explanations of the purpose of the provisions and of areas which may require negotiation and with an emphasis on the wording of the Loan Market Association documents. This work covers term loans and revolving credits and includes comparisons of the provisions required for investment grade borrowers, special purpose entities and asset and project based credit risks. It includes discussion of security, due diligence and legal opinions as well as Appendices explaining key issues of English law such as trusts and fiduciary duties; and a glossary of expressions commonly used in this area. The book thus provides a highly practical and comprehensive resource for bankers and lawyers, at all levels of experience, involved in international lending.

Contents: List of Figures / Introduction / PART 1: ADMINISTRATIVE PROVISIONS / Interpretation / The Facility / Utilization / Repayment, Prepayment and Cancellation / Costs of Utilization / Additional Payment Obligations / PART 2: GUARANTEE, REPRESENTATIONS, UNDERTAKINGS AND EVENTS OF DEFAULT / Guarantee / Representations, Undertakings, and Events of Default / Changes to Parties / The Finance Parties / Administration / Governing Law and Enforcement / SCHEDULES / Appendix 1: English Law Concepts / Appendix 2: Glossary of Terms used in International Lending / Index December 2005 336pp Hardback £180.00

234x156mm 978-1-4039-4279-1

ebook available from: Ebook Library, NetLibrary, ebooks.com, Myilibrary, Dawson ERA, Palgrave Connect Economics & Finance Collections, Ebrary

234x156mm 978-0-230-28281-0

Inspection copy available

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FINANCE AND FINANCIAL MARKETS · FINANCIAL MANAGEMENT

The Future of Private Equity Beyond the Mega Buy-out Mark Bishop, Founding Partner of The Management BuyOut Centre LLP, Mark Bishop Associates LLP

FINANCIAL MANAGEMENT

The International Handbook of Public Financial Management

The easy money that flowed through the banking system prior to 2008 fuelled a boom in buy-outs.

Now it is gone, how will the private equity industry reinvent itself? A series of interviews with some of the most respected and innovative firms, give rare insights to the strategies that will drive this secretive sector over the next economic cycle.

Contents: PART 1 / Introduction: Why Private Equity is at a Cross-roads / Jon Moulton, Better Capital / Nick Ferguson, SVG Capital / John Hess, Altius Associates / Jeremy Coller, Coller Capital / PART 2 / Introduction: Growth Themes in Developed Markets / Ajit Nedungadi, TA Associates / Steve Klinsky, New Mountain Capital / Wol Kolade, ISIS Equity Partners / Matthew Collins, Hutton Collins / Garry Wilson, Endless LLP / PART 3 / Introduction: New Models in Emerging Markets / Derek Sulger, Lunar Capital / Niten Malhan, Warburg Pincus / Martin Escobari, Advent International / Mark Goldsmith, Actis / Rod Evison, CDC / Hurley Doddy, ECP / Mustafa Abdel-Wadood and Tom Speechley, Abraaj Capital / Ahmed Heikal, Hisham El-Khazindar, Citadel Capital / Conclusions December 2012 Hardback

240pp £26.00

234x156mm 978-0-230-35493-7

http://www.palgrave.com/products/title.aspx?pid=538202

Over 4,750

Palgrave Macmillan titles included in Thomson Reuters Web of Science Book Citation Index A new multidisciplinary resource providing relevant and influential information on over 25,000 books View the Palgrave titles http://wokinfo.com/mbl/

Edited by Richard Allen, International Monetary Fund, World Bank, Overseas Development Institute in London, UK, Richard Hemming, Duke Center for International Development, Duke University, USA and Barry Potter, Consultant, IMF

The International Handbook of Public Financial Management is essential reading for governmental policy-makers, and practitioners and consultants working in this field, whose importance has been highlighted by the global financial crisis. It is a primary source for academics and students of economics, public finance, accountancy and public policy.

Contents: PART 1: THE INSTITUTIONAL AND LEGAL FRAMEWORK / PART 2: ALLOCATION OF RESOURCES / PART 3: MANAGING BUDGET EXECUTION / PART 4: MANAGING GOVERNMENT REVENUES / PART 5: LIABILITY AND ASSET MANAGEMENT / PART 6: ACCOUNTING, REPORTING AND OVERSIGHT OF PUBLIC FINANCES

A Full Table of Contents is Available at: http://www. palgrave.com/products/title.aspx?pid=508135 November 2012 800pp Hardback £150.00

234x156mm 978-0-230-30024-8

Risk Culture A Practical Guide to Building and Strengthening the Fabric of Risk Management Erik Banks, Senior Risk Advisor for UniCredit Go

Risk Culture is a practical volume devoted to the qualitative aspects of risk management, including those that should be firmly embedded in the corporate culture.

Through descriptions, examples and case studies, the book analyzes weak and strong cultures and proposes a series of structural and behavioural actions to strengthen a company's culture.

Contents: Successful Risk Management / A First Look at Risk Culture / Institutional and Regulatory Considerations / Deficiencies and Problems I: Concepts / Deficiencies and Problems II: Cases / Building and Strengthening I: Structure and Governance / Building and Strengthening II: Knowledge and Behavior / Gauging Success and Progress / Concluding Thoughts / Selected References September 2012 208pp 7 b/w tables and 18 figures Hardback £34.99

234x156mm 978-1-137-26371-1

http://www.palgrave.com/products/title.aspx?pid=628965

Personal Investment Financial Planning in an Uncertain World Edited by Mariana Mazzucato, Jonquil Lowe, Alan Shipman and Andrew Trigg

This innovative teaching text provides an introduction to personal investment in a world defined by uncertainty. With a focus on risk, socioeconomic change and the regulatory framework, and a wealth of international case studies, the book covers all the key issues that affect personal investment decisions and their ultimate success or failure.

March 2010 Paperback

448pp £39.99

246x189mm 978-0-230-24660-7

Co-published with The Open University

1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial

19

FINANCIAL MANAGEMENT

Finance: The Discreet Regulator

Mergers and Acquisitions as the Pillar of Foreign Direct Investment

How Financial Activities Shape and Transform the World Edited by Isabelle Huault, Professor of Organization Theory, Paris Dauphine University, France and Chrystelle Richard, Associate Professor, ESSEC Business School and Associate Researcher to the ESSEC-KPMG Financial Reporting Centre; She has published articles on the topic of the quality of audit and financial reporting in various journals.

Based on a series of well-documented case studies, the book shows how finance shapes and transforms the world.

Contents: Foreword; M.Power / Introduction: Finance: The Discreet Regulator; I.Huault, E.Lazega & C.Richard / PART I: POLYMORPHIC ACTORS AS NETWORKS OF INFLUENCE / Financialization through Hybridisation: the Subtle Power of Financial Controlling; J.Morales & A.Pezet / How Big Four Audit Firms Control Standard Setting in Accounting and Auditing; C.Ramirez / Ambivalence and Ambiguity: The Interpretative Role of Compliance Officers; M.Lenglet / Maintaining the Regulative Order in the Credit Rating Agency Industry; B.Taupin / PART II: MARKETS AND STATES: FORMS OF JOINT REGULATION / Banks as Masters of Debt, Cost Calculators, and Risk-sharing Mediators: A Discreet Regulatory Role in the Case of French Public-Private Partnerships; E.Penalva-Icher, C.Richard, A.JenyCazavan & E.Lazega / Market Information as a Public Good. The Political Economy of the Revision of the Markets in Financial Instruments Directive (MiFID); P.Lagneau-Ymonet & A.Riva / Finance in Public Service: Discreet Joint Regulation and Institutional Capture at the Commercial Court of Paris; E.Lazega & L.Mounier / PART III: THE PROCESS OF RULES' PRODUCTION / How Finance Regulates Trade Union Involvement in French SRI; E.Penalva-Icher / Constructing the Market for Credit Derivatives. How Major Investment Banks Handle Ambiguities; I.Huault & H.Rainelli-Weiss / Legitimizing an Ambiguous Financial Innovation: The Case of Exchange Traded Funds in France; L.Deville & M.Oubenal August 2012 Hardback

256pp £65.00

216x138mm 978-0-230-35579-8

http://www.palgrave.com/products/title.aspx?pid=540151

20

New

Edited by Aristidis Bitzenis, Assistant Professor, Department of International and European Studies, Vasileios A. Vlachos, PhD Candidate, both at University of Macedonia, Greece, Pyrros Papadimitrios, Lawyer, Economist and Assistant Professor of International Economic Relations, University of Peloponnese, Greece

This comprehensive volume tackles all aspects of Mergers and Acquisitions - including regional concentration of M&As at a global level, the impact of the economic crisis, and theoretical concepts and practical applications.

July 2012 Hardback

288pp £65.00

216x140mm 978-1-137-01330-9

http://www.palgrave.com/products/title.aspx?pid=572442

An Introduction to Stock Exchange Investment Janette Rutterford, Abbey National Professor of Financial Management, Open Business School, UK with Marcus Davison, Lecturer in Finance, The Open University, UK

The latest edition of Janette Rutterford’s classic textbook has been updated to take account of all practical, technical and legal developments since the last edition was published. Now enhanced by a range of student-friendly features, the focus remains on the London Stock Exchange, but a global perspective is adopted where appropriate.

April 2007 Paperback

528pp £41.99

Personal Finance 2nd edition Edited by George Callaghan, Ian Fribbance, and Martin Higginson, all Lecturers in Economics, The Open University, UK

‘This is the best book on the market just now and is the one most likely to engage not only undergraduates, but well educated members of the general public who need to become financially literate.’ - James Mallon, Edinburgh Napier University, UK This is the second edition of this successful introductory personal finance text, published in association with the Open University. It’s innovative approach of distilling important, but complex, concepts into a useable form and relating them to actual experience make it a ‘must have’ book for anybody that wants their money to work as hard as they do!

Contents: Contributors / Foreword / Acknowledgements/ Introduction / Setting the Context; A.Shipman / Income; G.Callaghan / Expenditure and Budgeting; M.Higginson / Debt; M.Upton / Savings and Investments; J.Lowe & J.Rutterford / Housing and the Financial Balance Sheet; G.Callaghan & I.Fribbance / Pensions; J.Lowe / Sharing and Caring; S.Himmelweit / Insurance and Life Events; I.Fribbance / Personal Finance: the Changing Context; G.Callaghan & M.Higginson / Glossary /Index November 2011 472pp Paperback £34.99

246x189mm 978-0-230-34811-0

http://www.palgrave.com/products/title.aspx?pid=525791

Published in association with The Open University

234x156mm 978-0-333-77802-9

http://www.palgrave.com/products/title.aspx?pid=261007

Available as an ebook

Inspection copy available

Web resource available

Comes with a CD/DVD

FINANCIAL MANAGEMENT

The Business of Giving

Hedge Fund Replication

The Theory and Practice of Philanthropy, Grantmaking and Social Investment Peter Grant, Senior Fellow in Grantmaking, Philanthropy and Social Investment, Sir John Cass Business School, City University, UK

‘With erudition, good humour and elegant prose Grant has produced an indispensable handbook on effective philanthropy and social investment.’

- Sam Daws, Senior Advisor, United Nations Foundation ‘Grant has given us a wonderful gift: a thoughtprovoking, comprehensive and readable guide on philanthropy and social investment which distils some of the best practices of this field.’ - Clare Brooks, Director of Philanthropy, Community Foundation Network The Business of Giving reviews current thinking and surveys the key techniques any philanthropist or grantmaker should adopt. It also outlines a generic social investment process that can be utilized for all philanthropic or grantmaking programmes. Essential reading for all engaged in or with an interest in philanthropy or civil society in general.

Contents: PART I: THE THEORY OF SOCIAL INVESTMENT / Philanthropy, Grantmaking and Social Investment / A Short History of Philanthropy / Theories of Change and Logic Modelling / Types and Styles of Social Investment / PART II: SOCIAL INVESTMENT AS A BUSINESS PROCESS / Can Philanthropy Learn from Business Methods? / Three Key Business Processes / PART III: MANAGING SOCIAL INVESTMENT / From Logic Model to Investment Programme / Designing the Programme / Assessment and Selection / Post-Decision Management December 2011 280pp 20 b/w tables and 26 figures Hardback £26.00

234x156mm 978-0-230-33679-7

Cass Business Press ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=529891

Edited by Greg N. Gregoriou, Professor of Finance, State University of New York, USA and Maher Kooli, Professor of Finance, Université du Québec à Montréal, Canada

While there may be a consensus in the industry that hedge fund clones will bring better liquidity and lower fees, it is still debatable whether replication products should serve as a complement in the hedge fund allocation decision or as a replacement. This book offers the reader valuable insights into the thinking behind hedge fund replication.

Contents: Can We Really ‘Clone’ Hedge Fund Returns?

Further Evidence; M.Kooli & S. Sharma / Hedge Fund Replication: Does Model Combination Help?; J.Teiletche / Factor-Based Hedge Fund Replication with Risk Constraints; R.D.F.Harris & M.Mazibas / Takeover Probabilities and the Opportunities for Hedge Funds and Hedge Fund Replication to Produce Abnormal Gains; A.Ravi, P.Mayall & J.Simpson / Benchmarking of Replicated Hedge Funds; M.D.Wiethuechter & L.Nemeth / Insight – Distributional Hedge Fund Replication via State Contingent Stochastic Dominance; C.H.Glaffig / Non-Parametric Hedge Funds and Replication Indices Performance Analysis: A Robust Directional Application; L.Germain, N.Nalpas & A.Vanhems / Hedge Fund Cloning through State Space Models; R.Savona / Hedge Fund Return Replication via Learning Models; R.McFall Lamm, Jr / Linear Model for Passive Hedge Fund Replication; G.Barone-Adesi & S.Siragusa / Can Hedge Fund-like Returns be Replicated in a Regulated Environment?; I.Markov & N.Tuchschmid / A Factor-based Application to Hedge Fund Replication; M.Rossi & S.L.Rodríguez November 2011 224 pp 46 b/w tables and 18 figures Hardback £60.00

216x138mm 978-0-230-33681-0

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=529912

The Trustee Guide to Investment Andrew Clare, Professor of Asset Management, Cass Business School, UK and Chris Wagstaff, Head of Investment Education, Aviva Investors

‘Quite simply the book every Trustee should read and understand.

Written clearly and concisely, it is compulsory reading for my Committee!’ Mike Urmston, Chair of the Aviva Staff Pension Scheme Investment Committee ‘As simplicity in many aspects of trusteeship and investment gives way to increased complexity, at last we have a refreshingly objective and practical guide to the ever expanding range of markets, investments, tools and techniques to which pension scheme trustees are increasingly exposed and regularly bombarded.’ - Rob Gardner, cofounder and joint-CEO Redington Limited The Trustee Guide to Investment is a unique and refreshingly practical guide to the expanding range of markets, investments, tools and techniques to which pension scheme trustees must now become familiar.

Contents: The Pension Promise / Why Trustee?

Knowledge and Understanding and Investment Governance are Important / The Main Parties Trustees Deal with on Funding and Investment Issues / The Macroeconomic Background to Pensions / The Traditional Asset Classes / Risk and Risk Management / Asset Allocation / Derivatives / Interest Rate and Inflation Swaps / Alternative Assets / Portfolio Management / Liability Driven Investment / Environmental, Social and Corporate Governance / Behavioural Finance / Manager Selection / Conclusion November 2011 616pp 153 figures Hardback £35.00

234x156mm 978-0-230-24424-5

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=396809

Order securely online at www.palgrave.com or telephone +44 (0)1256 302866

21

FINANCIAL MANAGEMENT

Corporate Management in a Knowledge-Based Economy

Manias, Panics and Crashes

Edited by Gianfranco Zanda, Professor of Accounting and Corporate Finance, La Sapienza University of Rome, Italy

An analysis of the entrepreneurial management inspired to maximize social responsibility, customer satisfaction, human capital development and economic targets.

Contents: Company Management: Its Historical Evolution; G.Zanda / The Period in which Power is Associated with Land Ownership; D.Coluccia / The First Industrial Revolution (c1760 – c1870); D.Coluccia / The Second Industrial Revolution (Late 1800s and Early 1900s); D.Coluccia / The ‘Managerial Revolution’, the Origin and Growth of Managerial Capitalism (From the 1930s to the End of the 1970s); G.Zanda / The Appearance and Establishment of ‘Financial Shareholding Managerial Capitalism’; G.Zanda / Efficient Market Hypothesis (EMH) and Financial Crisis; G.Oricchio / Control of Intangible Resources and Corporate Management; G.Zanda / Ethical Foundations of Corporate Social Responsibility: The Contribution of Christian Social Thought; H.Alford / Patterns of Management and their Influence on Business Behavior; S.Solimene / Summary and Closing Remarks; G.Zanda October 2011 280pp 5 b/w tables and 11 figures Hardback £65.00

216x138mm 978-0-230-29425-7

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=499440

A History of Financial Crises 6th edition Charles P. Kindleberger, formerly Ford Professor of Economics, Massachusetts Institute of Technology, USA and Robert Z. Aliber, Professor of International Economics and Finance, University of Chicago Graduate School of Business, USA

‘Deep knowledge and a pragmatic approach to financial history qualifies Robert Aliber to provide this desperately needed sixth edition of Charles Kindleberger’s classic study of financial manias and crashes. Read. Learn. Weep.’ - Martin Wolf, Financial Times ‘Every so often financial markets fly off the rails of rationality. Manias, Panics and Crashes brilliantly explains these crises and warns us that as each one fades into the past, the lessons are eventually lost, and investors again come to believe that trees grow to the sky.’ - David Laibson, Harvard University, USA This highly anticipated sixth edition has been revised to include an in-depth analysis of the first global crisis of the twenty-first century. Providing a scholarly and entertaining account of such topics as the history of crises, speculative manias and Lehman Brothers, this book has been hailed as ‘a true classic...both timely and timeless.’

Contents: Foreword; R.M. Solow / Financial Crisis: A Hardy Perennial / Anatomy of a Typical Crisis / Speculative Manias / Fuelling the Flames: The Expansion of Credit / The Critical Stage / Euphoria and Economic Booms / Bernie Madoff: Frauds and Swindles, and the Credit Cycle / International Contagion 1618-1930 / Bubble Contagion: Tokyo to Bangkok to New York / Policy Responses: Benign Neglect, Exhortation, and Bank Holidays / The Domestic Lender of Last Resort / The International Lender of Last Resort / The Lehman Panic - An Avoidable Crash / The Lessons of History / Epilogue 2010-2020 / Notes / Index August 2011 Paperback

368pp £20.00

234x156mm 978-0-230-36535-3

http://www.palgrave.com/products/title.aspx?pid=547686

22

New

Available as an ebook

Inspection copy available

The New International Money Game 7th edition Robert Z. Aliber, Professor of International Economics and Finance, University of Chicago Graduate School of Business, USA

The International Money Game has been fully rewritten to take account of changes in the world economy. It provides a comprehensive overview of international financial developments, including both the structure of payments arrangements and the series of credit and asset bubbles as well as financial crises.

April 2011 Hardback Paperback

376pp £74.00 £26.99

234x156mm 978-0-230-01894-5 978-0-230-01897-6

http://www.palgrave.com/products/title.aspx?pid=276645

Shipping Derivatives and Risk Management Amir Alizadeh, Director MSc Energy, Trade and Finance and Nikos Nomikos, both at Cass business School, City University, UK

A comprehensive book on shipping derivatives and risk management coverign both the theory and practice of financial risk in shipping. The authors show how to analyze and measure the impact of financial risks in shipping investment and operations and how to effectively minimize these risks.

April 2009 Hardback

528pp £79.00

216x138mm 978-0-230-21591-7

ebook available from: Palgrave Connect Economics & Finance Collections, Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary http://www.palgrave.com/products/title.aspx?pid=303853

Web resource available

Comes with a CD/DVD

FINANCIAL MANAGEMENT · INTERNATIONAL FINANCE

Best Practices in Management Accounting Edited by Greg N. Gregoriou, Professor of Finance, State University of New York, USA and Nigel Finch, Senior Lecturer in Accounting, University of Sydney, Australia

Management accounting has undergone significant evolution moving away from rigid budgeting programs and static output measures to comprehensive approaches of value identification and measurement. Provides case studies, commentary and analysis from international experts in management accounting across key contemporary areas.

December 2011 288pp 17 b/w tables and 18 figures Hardback £65.00

216x138mm 978-0-230-35836-2

http://www.palgrave.com/products/title.aspx?pid=541008

Review of Management Accounting Research Edited by Magdy G. Abdel-Kader, Professor of Management Accounting, University of Bedfordshire, UK

October 2011 608pp 19 b/w tables and 26 figures Hardback £125.00

INTERNATIONAL FINANCE

Submerging Markets The Impact of Increased Financial Regulations on the Future Growth Rates of BRICS Countries Rich Marino, Principal Consultant, RL Marino Company (corporate consulting firm)

Submerging Markets is a valuable tool for the academic community, government agencies, global business organizations and anyone interested in the impact of the new financial regulations and reforms implemented after the 2008 crisis, relative to the possible and probable future economic growth rates of the emerging markets (BRICS).

Contents: THE NEED FOR INCREASED REGULATION / Introduction / Overview of Regulations, Historical & Current / CAPITAL FLOWS AND GROWTH RATES REVISITED / Capital Flows from the 1990s-Current Day / GDP Growth Rates for Advanced Economies and Selected Emerging Markets Including the BRICS / THE BRICS: A CAPITAL FLOW ANALYSIS / Analysis of Brazil's Economy Relative to Its Capital Flows / Analysis of Russia's Economy Relative to Its Capital Flows / Analysis of India's Economy Relative to Its Capital Flows / Analysis of China's Economy Relative to Its Capital Flows / Analysis of South Africa's Economy Relative to Its Capital Flows / REGULATORY IMPACT / Conclusion December 2012 240pp Hardback £65.00

216x138mm 978-0-230-36273-4

http://www.palgrave.com/products/title.aspx?pid=545997

Survival Investing How to Prosper Amid Thieving Banks and Corrupt Governments John R. Talbott, former Investment Banker, Economics Guru, and Bestselling Author. Talbott has established himself as a predictor of major economic events over the last two decades, including the dot. com technology stock collapse, the overheated national housing market, and the global mortgage crisis.

Talbott has had articles published in The Wall Street Journal, the Financial Times, The Boston Globe, the San Francisco Chronicle, the International Herald Tribune, The New Republic, the Los Angeles Times, and Salon.com and is a regular contributor to The Huffington Post. He has appeared as a financial expert on television for CNN, CBS, Fox News, CNBC, Fox Business News, CSPAN, and MSNBC as well as on hundreds of radio programs. Talbott was previously a visiting scholar at UCLA’s Anderson School of Management as well as a top Goldman Sachs investor.

In Survival Investing finance guru John R. Talbott takes a startling look at how unsustainable debt levels around the world are endangering many standard investments, and what people need to know to protect their money from compromized banks and corrupt governments.

July 2012 Hardback

256pp £16.99

234x156mm 978-0-230-34122-7

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A comprehensive review of contemporary research in management accounting. Provides a thorough critical analysis of recent issues published in the management accounting literature and identifies gaps for future research in each issue reviewed.

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23

INTERNATIONAL FINANCE

Euro Crash

Private Equity in Poland

The Exit Route from Monetary Failure in Europe 2nd edition

Winning Leadership in Emerging Markets

Euro Crash diagnoses the three fatal design flaws in EMU as constructed by the Maastricht Treaty and analyzes future likely monetary scenarios for Europe, demonstrating how the best of these would be the creation of a new narrow monetary union between France and Germany founded on strict monetarist principle and without a European Central Bank.

Contents: Introduction / Euro Indictment / Origins of the Euro-Bubble / The Bursting of the Bubble / The Trial / EMU is Dead: Long Live EMU! February 2012 Hardback Paperback

224pp £60.00 £18.99

216x138mm 978-0-230-31923-3 978-0-230-36849-1

Edited by Daniel Bernhofen, Professor of International Economics, Rod Falvey, Professor of Economics, David Greenaway, Professor and Pro Vice Chancellor, Leverhulme Centre for Research on Globalisation and Economic Policy, School of Economics, Sir Clive Granger Building, all at University of Nottingham, Nottingham, UK and Udo Kreickemeier, University of Tubingen, Germany

Darek Klonowski, Professor of Business Administration, Brandon University, Canada, and has worked in the private equity industry for over fifteen years, making investments throughout Central and Eastern Europe

Brendan Brown, Executive Director and Head of Economic Research, Mitsuibishi (UFJ) Securities International plc, UK

'The majority of economic analysts, especially those in financial markets, follow governments, central banks and international institutions in trusting to largescale macroeconomic forecasts...Brendan Brown...belongs to the select band of commentators who prefer to derive their analysis from the market prices of key variables.

For this reason alone he deserves our attention.’ The Financial Times

Palgrave Handbook of International Trade

Poland represents the most developed private equity industry in Central and Eastern Europe and is one of the most developed emerging markets worldwide.

Klonowski captures the essence of twenty years of development, looking at its evolution, exit opportunities, financial performance and future trends.

Contents: Preface / Foreword / An Overview of Private Equity / Economic Development in Poland / Systemic Competitiveness in Poland / Nurturing Entrepreneurship in Poland / The Exit Environment for Private Equity Firms in Poland / The Evolution of Private Equity in Poland / Fundraising in Poland and the CEE Region / Fund Operations in Poland / Comparative Perspectives on Private Equity in Emerging Markets / The Future Development of Private Equity in Poland December 2011 30pp figures Hardback

226pp

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ebook available from: Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=527319

International trade is the core foundation of globalization. This current and up-to-date volume brings together the finest academics working in the field today, containing contributions in key areas of policy research, such as, modelling frameworks, trade policy, trade and migration, trade and the environment, trade and unemployment.

Contents: PART I: FOUNDATIONS AND MODELLING FRAMEWORKS / Editorial Overview / International Trade in the Long Run; R.Ruffin / General Equilibrium Trade Theory; A.Woodland / The Empirics of General Equilibrium Trade Theory; D.Bernhofen / General Equilibrium Trade Theory and Firm Behaviour; G.Ottaviano & K.Behrens / Firms’ Internationalization Strategies: The Evidence; D.Greenaway, R.Kneller & D.McGowan / Oligopoly and Trade; D.Leahy & P.Neary / Multinational Firms; J.Markusen / PART II: POLICY / Theory of Trade Policy and Reform; R.Falvey & U.Kreickemeier / Political Economy of Protection; B.Ethier / Measurement of Protection; J.Anderson / On the Theory and Empirics of Preferential Trade Agreements; P.Krishna / Trade Agreements; C.Kowalczyk & R.Riezman / PART III: SPECIAL TOPICS / Trade and Labour Markets; C.Davidson & S.Matusz / Trade and the Environment; B.Copeland / Economic Geography: A Review of the Theoretical and Empirical Literature; S.Redding / Gravity Equations and Economic Frictions in the World Economy; J.Bergstrand & P.Egger / Computational General Equilibrium Modeling of International Trade; J.Francois & W.Martin / Trade and Economic Growth; P.Segerstrom / Trade, Trade Policyand Development; C.Milner / International Migration; N.Gaston & D.Nelson October 2011 736pp 61 figures and 15 tables Hardback £150.00

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INTERNATIONAL FINANCE · PUBLIC FINANCE

An Introduction to Global Financial Markets 6th edition Stephen Valdez, formerly Financial Consultant and Director of Profile Financial Training Plc.and Philip Molyneux, Professor of Banking and Finance, Bangor Business School, Bangor University, UK

Describes the various financial sectors in clear, easy to understand terms.

It provides a broad and balanced introduction to financial markets across the world and comprehensive coverage of commercial and investment banking, foreign exchange, money and bond markets, stock markets and derivatives products.

April 2010 Paperback

528pp £29.99

234x156mm 978-0-230-24309-5

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PUBLIC FINANCE

Alaska’s Permanent Fund Dividend Edited by Karl Widerquist, Visiting Associate Professor, Georgetown University, Qatar and Michael W. Howard, Professor of Philosophy, University of Maine, USA

Contributors discuss the Alaska Permanent Fund (APF) and Permanent Fund Dividend (PFD) as a model both for resource policy and for social policy. This book explores whether other states would benefit from an Alaskan-style dividend. It also looks at possible ways that the model might be improved.

February 2012 Hardback

288pp £62.50

216x138mm 978-0-230-11207-0

As a collection of alternative views on societies, methodologies, policies and assessment of the current elements of the society, Alternative Perspectives on a Good Society brings together different authors answering different questions all within the context of visions of a good society.

December 2011 218pp Hardback £62.50

216x138mm 978-0-230-11445-6

Perspectives from Social Economics Series Editor: Mark D. White

Public Finance and Public Policy 3rd edition

International Finance

Basic Income Reconsidered

3rd edition

Social Justice, Liberalism, and the Demands of Equality Simon Birnbaum, Researcher, Department of Political Science, Stockholm University, Sweden

International Finance is a well-established and internationally renowned introduction to the subject for both undergraduate and postgraduate students. It provides comprehensive coverage of both traditional and modern theories relating to the balance of payments, exchange rate determination and the international monetary system. There is extensive use of data and empirical evidence to illustrate the relevance of theories and concepts discussed.

November 2005 528pp Paperback £43.99

Edited by John Marangos, Associate Professor of Economics, University of Crete and Affiliated with Colorado State University (where he was Associate Professor of Political Economics from 20032009), USA

Examining its Suitability as a Model

Exploring the Basic Income Guarantee Series Editors: Karl Widerquist and James Bryan

Keith Pilbeam, Professor of International Economics and Finance, City University London, UK

Alternative Perspectives of a Good Society

Basic income is one the most innovative, powerful and controversial proposals for addressing poverty and growing inequalities.

This book examines the arguments for and against basic income from the point of view of economic and social justice.

246x189mm 978-1-4039-4837-3

http://www.palgrave.com/products/title.aspx?pid=270788 February 2012 Hardback

256pp £62.50

216x138mm 978-0-230-11406-7

Jonathan Gruber, Massachusetts Institute of Technology, USA

Gruber’s Public Finance and Public Policy was the first text written to reflect current realities of public finance, with an emphasis on empirical work and coverage of transfer programs and social insurance. This latest edition contains fully updated research and new coverage of tax, health and the ongoing debate of privatization.

October 2010 Hardback

700pp £73.99

257x206mm 978-1-4292-1949-5

Published by Worth Publishers http://www.palgrave.com/products/title.aspx?pid=302463

Exploring the Basic Income Guarantee Series Editors: Karl Widerquist and James Bryan

Order securely online at www.palgrave.com or telephone +44 (0)1256 302866

25

PUBLIC FINANCE

Financing Long-Term Care in Europe

Microeconomics, Macroeconomics and Economic Policy

Institutions, Markets and Models Edited by Joan Costa-Font, London School of Economics and Political Science, UK and Christophe Courbage, Research Director, The Geneva Association

Essays in Honour of Malcolm Sawyer

Offers a full understanding of the institutional responses and mechanisms in place to finance old age

Microeconomics, Macroeconomics and Economic Policy are at the core of economic research. The essays in this volume have been specifically commissioned and brought together to celebrate the work of Malcolm Sawyer, who has made substantial contributions in these areas.

November 2011 360pp 216x138mm 38 b/w tables and 38 figures Hardback £65.00 978-0-230-24946-2

ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Economics & Finance Collections http://www.palgrave.com/products/title.aspx?pid=406106

Edited by Philip Arestis, Director, Department of Land Economy, University of Cambridge, UK

July 2011 320pp 8 b/w tables and 15 figures Hardback £65.00

Edited by Philip Arestis, Director of Research, Cambridge Centre for Economic and Public Policy, University of Cambridge, UK; Professor of Economics, University of the Basque Country, Spain and Malcolm Sawyer, Professor of Economics, University of Leeds, UK

Regulating Pensions in Germany and the UK Edited by Lutz Leisering, Professor of Social Policy, Bielefeld University, Germany

Explores the role of governments in creating and regulating private pensions in the UK and Germany since the 1980s.

336pp £60.00

978-0-230-29019-8

http://www.palgrave.com/products/title.aspx?pid=491486

New Economics as Mainstream Economics

The New Regulatory State

October 2011 Hardback

216x138mm

216x138mm 978-0-230-27205-7

Transformations of the State Series Editor: Stephan Leibfried, Achim Hurrelmann ebook available from: Dawson ERA, Ebook Library, ebooks.com, Ebrary, Myilibrary, NetLibrary, Palgrave Connect Business & Management Collections

This volume deals with both a new theoretical framework and the capability of new economics to tackle a number of economic problems.It offers detailed analysis and informed comment on the type of new economics emerging in the aftermath of the financial crisis and the ‘great recession’.

May 2011 256pp 4 tables and 13 graphs Hardback £65.00

Corporate Governance Theory and Practice Carol Padgett, ICMA Centre, University of Reading, UK

'Carol Padgett has written an excellent book on corporate governance.

It is comprehensive and thorough in its coverage of an important and expanding topic. The book combines an extensive review of the relevant literature with an insightful description of corporate governance policy and practice. It is well illustrated with case studies and examples, and it guides the reader carefully through the different aspects of current corporate governance debates.' - Colin Mayer, Peter Moores Professor of Management Studies, SaId Business School, University of Oxford, UK Recent financial crises and instances of corporate malpractice have prompted many questions about how companies are run - and whether this tallies with how they should be run. This book systematically explores the factors that shape corporate governance, and discusses both those governance practices implemented by companies and those imposed by regulators. It also tries to determine how good corporate governance can help companies to create value for their shareholders. Corporate Governance is firmly grounded in academic literature and packed with empirical evidence from around the world, making it an ideal book for students of business, management, finance, accounting and law taking a one-term course in the subject.

Contents: The Scope and Nature of Corporate Governance / Ownership / The Board of Directors / Stakeholders / Remuneration / The Market for Corporate Control / Regulation /Communication and Disclosure / Corporate Governance in Emerging Markets / Conclusion November 2011 Paperback

240 pp £31.99

249x189mm 978-0-230-22999-0

http://www.palgrave.com/products/title.aspx?pid=349164

216x138mm 978-0-230-29877-4

International Papers in Political Economy Series Editors: Philip Arestis and Malcolm Sawyer

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PUBLIC FINANCE · ACCOUNTING

US Withholding Tax

ACCOUNTING

Practical Implications of QI and FATCA Ross McGill, Managing Director, T Consult and Globetax, UK

The US is the world's largest capital market, its withholding tax system being the most complex.

QI regulations affecting both qualified and non-qualified intermediaries, as well as FATCA regulations imposing stringent disclosure and reporting requirements on US investors give the reader practical insights into how to meet these compliance burdens.

Contents: Preface / Foreword / Acknowledgements / List of Tables and Charts / List of Abbreviations and Acroynyms / Introduction / PART I: THE QI REGULATIONS / Principles of Code Chapter 3 / Contracts – the QI Agreement / Issues for Non-Qualified Intermediaries / Documentation / Presumption Rules / Withholding / Deposit of taxes / Information Reporting under Chapter 3 / AUP / Penalties / Refunds / PART II: FATCA / Principles of Title V of the HIRE Act / The FFI Agreement / Terms and Definitions / Documentation Procedures / Waivers of Privacy Laws and Treaty Entitlements / Substantial Presence and Effective Control / Recalcitrant Accounts / Withholding and Pass Thru Payments / Information Reporting under Chapter 4 / Transition Rules / Control, Oversight and Penalties / PART III: RELATED GLOBAL TAX INITIATIVES / OECD / European Union / Conclusion / Notes / Appendices / Bibliography / Index December 2012 256pp Hardback £135.00

234x156mm 978-0-230-36461-5

http://www.palgrave.com/products/title.aspx?pid=547515

HIGHLIGHT St. James’s Place Tax Guide 2012–2013 41st edition Walter Sinclair, Tax Specialist with Writer and E. Barry Lipkin, Now in independent practice, after many years as a tax consultancy partner at a national firm Preface by M.Weinberg

Reviews of previous editions*: ‘The bestselling tax guide is back and it’s as authoritative as ever... gives practical guidance on tax issues, which would benefit both students and professionals alike.’ - Accounting Technician ‘No other manual compares...the complete A-Z on Tax.’ - The Times ‘The best book ever written on taxation.’ - The Daily Telegraph ‘Acknowledged among consumers and professionals alike as the best book on the subject.’ - The Independent ‘Provides a complete guide to UK taxation...includes clear examples and explanations, tables and a glossary, with all items fully referenced and indexed for ease of use.’ - Tax Journal *Including editions of the book prior to it being published as the St. James’s Place Tax Guide The 41st annual edition of the leading guide to taxation in Britain. This practical and user-friendly guide is a bestseller with students, professionals, accountants and private individuals, explaining in simple terms how the UK tax system works and how best to minimise tax liabilities.

Contents: Preface; M.Weinberg / Abbreviations / Introduction / This Year’s Tax Changes / The Basis of Your Tax Liability / Personal Reliefs / Annual Interests and other Payments / Computing Your Income Tax Bill / Husband, Wife, Civil Partners and Children / Income from Land and Property / Income from Dividends and Interest / Life Assurance / Income from Employments and PAYE / Income from Businesses and Professions / Partnerships / Companies / Pensions / Miscellaneous Aspects / Returns, Assessments and Repayment Claims / Domicile and Residence / Tax on Foreign Income / Non-residents, Visitors and Immigrants / Capital Gains Tax / The Taxation of Trusts and Estates / Inheritance Tax / An Outline of VAT / Stamp Duty / Social Security / Tax Saving Hints / Tax Tables / Glossary / Index http://www.palgrave.com/products/title.aspx?pid=476598

Order your copy now at a special pre-publication price of just £21.99* plus p&p, please visit: www.palgrave.com/taxguide and enter WTAX2012a at the checkout. *Special offer price £21.99 available until 31/07/2012.

Price thereafter £34.99 August 2012 Hardback

432pp £34.99

216x138mm 978-0-230-28002-1

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27

ACCOUNTING · REFERENCE

Business Accounting

REFERENCE

An Introduction to Financial and Management Accounting 2nd edition

Mastering Communication 5th edition

Jill Collis, Director, Accounting and Auditing Research Centre, Brunel University, UK, Andrew Holt, Principal Lecturer in Accounting, Kingston University, UK and Roger Hussey, Dean, Guangzhou International Business School, China

'Business Accounting is an absolute must for any student studying introductory financial or management accounting either on a specialist accounting or other degree. It manages to simplify difficult concepts and communicate them in an interesting and logical sequence.’ - Mark Farmer, Kingston University, UK Business Accounting covers financial and management accounting in an accessible, nontechnical style that is particularlysuitable for undergraduate students of business & finance and MBAs. The active-learning approach seeks to convey the ability to understand and evaluate financial information for a range of business services.

Contents: PART I: THE WORLD OF ACCOUNTING AND FINANCE / Introduction to Business Accounting / The Importance of Cash / PART II: FINANCIAL ACCOUNTING / The Accounting System / Regulatory Framework for Financial Reporting / Conceptual framework for Financial Reporting / Statement of Comprehensive Income / Statement of Financial Position / Consolidated Financial Statements / Analysing Financial Statements / Ethics, Governance and Corporate Social Reporting / PART III: MANAGEMENT ACCOUNTING / The Importance of Cost Information / Costing for Product Direct Costs / Costing for Indirect Costs / Costing for Specific Orders and Continuous Operations / Activity-based Costing / Marginal Costing / Budgetary Control / Standard Costing / Capital Investment Control / Discounting Methods of Investment Appraisal / Issues in Management Accounting / Appendix: Present Value Table / Acronyms / Glossary of Terms / Index June 2012 Paperback

472pp £32.99

246x189mm 978-0-230-27623-9

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Study Skills Researching Business and Management A Roadmap For Success Harvey Maylor, Lecturer in Operations and Project Management, School of Management, University of Bath, UK and Kate Blackmon, Lecturer in Operations Management, Saïd Business School, UK

Nicky Stanton, Management Consultant and Trainer in Management Development and Communication, UK

This book will help students improve their speaking, listening, reading and writing skills. It will give an understanding of the importance of good communication skills for their personal development and career.

July 2009 Paperback

496 pp £18.99

234x156mm 978-0-230-21692-1

Palgrave Master Series

The New Palgrave Dictionary of Economics Edited by Steven N. Durlauf, University of Wisconsin, USA and Lawrence E. Blume, Cornell University, USA

‘More than 1,000 of the entries are new or ‘heavily revised’...highly recommended.’ - Choice

This is an introductory text on the process of research in business and management. It will enable undergraduate, taught postgraduates and MBA students to develop the skills to carry out rigorous research, using a structured approach to the research process from defining the research question, through the selection of methods, to producing a final report.

The authors’ style is friendly and supportive, occasionally humorous, and they acknowledge the chaos, uncertainty and sometimes complexity inherent in research projects. Research methodologies are explained with great clarity, relating theory to practice throughout. There is a comprehensive website to accompany this text including both lecturer and student resources.

Contents: PART I: DEFINING YOUR RESEARCH /PART II: DESIGNING YOUR RESEARCH / PART III: DOING YOUR RESEARCH / PART IV: DESCRIBING YOUR RESEARCH / Bibliography A Full Table of Contents is Available at: http://www. palgrave.com/products/title.aspx?pid=264056 April 2005 496pp figures and tables Paperback £36.99

246x189mm 978-0-333-96407-1

Written by over 1500 eminent contributors, this new edition of The New Palgrave Dictionary of Economics retains many classic essays of enduring importance and contains 1,872 articles. Published in eight print volumes and for the first time in online format, this is the definitive scholarly reference work for a new generation of economists.

May 2008 Hardback

7534 pp £1940.00

246x189mm 978-0-333-78676-5

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COMING SOON

NEW PROFESSIONAL FINANCE SERIES FROM PALGRAVE MACMILLAN

Palgrave Macmillan are delighted to announce the launch of Applied Quantitative Finance, a new series of publications aimed at practitioners, researchers and students of finance, who need to understand modern quantitative finance as it is applied in practice.

Discounting, Libor, CVA and Funding Interest Rate and Credit Pricing Chris Kenyon and Roland Stamm Coverage will include: Discounting future cash flows How to build the appropriate interest curves Analysis of the different credit and basis spreads available The nature of CSA, CVA and OIS The relevance and impact of Basel III 978-1-137-26851-8 | 210 pages | Hardcover | August 2012 | £39.99

COMING SOON Financial Engineering Explained is a new series of concise, practical guides to modern finance, focussing on key technical areas of risk management and asset pricing. Written for practitioners, researchers and students, the series discusses a range of topics in a non-mathematical but highly intuitive way. Each self-contained volume will be dedicated to a specific topic and offer a thorough introduction with all the necessary depth, but without too much technical ballast.

Series Editor: Wim Schoutens, Department of Mathematics, Catholic University of Leuven.

Editorial Advisory Board: Peter Carr, Executive Director, NYU Mathematical Finance; Global Head of Market Modeling, Morgan Stanley.

Ernst Eberlein, Department of Mathematical Stochastics, University of Freiburg.

Matthias Scherer, Chair of Mathematical Finance, Technische Universität München.

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INDEX A Abdel-Kader Review of Management Accounting Research

23

Alaska’s Permanent Fund Dividend Widerquist Howard

25

Aliber The New International Money Game

22

Alizadeh Nomikos Shipping Derivatives and Risk Management

22

Allen Hemming Potter The International Handbook of Public Financial Management

19

Birnbaum Basic Income Reconsidered

25

Bishop The Future of Private Equity

19

Bitzenis Vlachos Papadimitrios Mergers and Acquisitions as the Pillar of Foreign Direct Investment

20

Blomberg Kjellberg Winroth Marketing Shares, Sharing Markets

14

Brown Euro Crash

24

Brown The Global Curse of the Federal Reserve

10

Business Accounting Collis Holt Hussey

28

The Business of Giving Grant

21

D Discounting, Libor, CVA and Funding Kenyon Stamm

12

Durlauf Blume The New Palgrave Dictionary of Economics

28

E Economic Forecasting and Policy Carnot Koen Tissot

11

The Economics of the Financial Crisis Annunziata

18

The Efficient Market Hypothesists Read

14

Alternative Perspectives of a Good Society Marangos

25

An Introduction to Global Financial Markets Valdez Molyneux

25

An Introduction to Stock Exchange Investment Rutterford Davison

Callaghan Fribbance Higginson Personal Finance

20

Annunziata The Economics of the Financial Crisis 18

Carnot Koen Tissot Economic Forecasting and Policy

11

Euro Crash Brown

Apati The Nigerian Banking Sector Reforms

Casey Legacy of the Crash

17

European Banking Olgu

Applied Econometrics Asteriou Hal Arestis Microeconomics, Macroeconomics and Economic Policy

7 11 26

Arestis Sawyer New Economics as Mainstream Economics

26

Asteriou Hall Applied Econometrics

11

B Ball Money, Banking, and Financial Markets

12

C

Emerging Asia Rajan 20

Central Banks and Coded Language Muchlinski

10

Challenging Global Finance Friesen

14

Clare Wagstaff The Trustee Guide to Investment

Fernández de Guevara Radoselovics Pastor Monsálvez Crisis, Risk and Stability in Financial Markets

21

Collis Holt Hussey Business Accounting

28

Fernández de Guevara Radoselovics Pastor Monsálvez Modern Bank Behaviour

Corporate Governance Padgett

26 6

Bank Performance, Risk and Firm Financing Molyneux

8

Bank Regulatory Reforms in Africa Murinde

6

Costa-Font Courbage Financing Long-Term Care in Europe

Bank Strategy, Governance and Ratings Molyneux

8

Cousin Banking in China

8

Banking in China Cousin

8

Credit Guarantee Institutions and SME Finance Leone Vento

5

Credit Scoring, Response Modeling, and Insurance Rating Finlay

12

Basel III, Credit Rating Systems Izzi Oricchio Vitale 18 Basel III the Devil and Global Banking Chorafas

7

Basic Income Reconsidered Birnbaum

25

Bernhofen Falvey Greenaway Palgrave Handbook of International Trade

Crisis, Risk and Stability in Financial Markets Fernández de Guevara Radoselovics Pastor Monsálvez

24

Crisis: Cause Containment and Cure Huertas

Best Practices in Management Accounting Gregoriou Finch

23

F

7

Corporate Management in a Knowledge-Based Economy Zanda

22 26

4

4 4

Fiance and Financial Markets Pilbeam

18

Finance, Investment Banking and the International Bank Credit and Capital Markets Scott-Quinn

13

Finance: The Discreet Regulator Huault Richard

20

Financial Structures and Regulation Roselli

5

Financialization and Government Borrowing Capacity in Emerging Markets Hardie

13

Financing Long-Term Care in Europe Costa-Font Courbage

26

Finlay Credit Scoring, Response Modeling, and Insurance Rating

12

Fiordelisi Ricci Bancassurance in Europe Friesen Challenging Global Finance

17

3 8

4

Corporate Income Tax Harmonization in the European Union Pîrvu

10 24

Chorafas Sovereign Debt Crisis

7

19

Ethics in Investment Banking Reynolds Newell

Chorafas Basel III the Devil and Global Banking

Bancassurance in Europe Fiordelisi Ricci

Banks Risk Culture

5

Essential Quantitative Methods Oakshott

7 14

The Future of Insurance Regulation and Supervision Liedtke Monkiewicz

17

The Future of Private Equity Bishop

19

1000s of scholarly ebooks available at www.palgraveconnect.com, ask your librarian to request a trial

31

INDEX G Gallagher Marsh How Ireland Voted 2011 Genesis of the Financial Crisis Macdonald

17 10

The Gold Standard Peripheries Ögren Øksendal

8

Greek Banking Pasiouras

21 6

Gregoriou Finch Best Practices in Management Accounting

23

Gregoriou Kooli Hedge Fund Replication

21

Gruber Public Finance and Public Policy

25

H Hardie Financialization and Government Borrowing Capacity in Emerging Markets

13

Hedge Fund Replication Gregoriou Kooli

21

Horn Regulating Corporate Governance in the EU

16

How Ireland Voted 2011 Gallagher Marsh

17

Huault Richard Finance: The Discreet Regulator

20

Huertas Crisis: Cause Containment and Cure

17

I International Finance Pilbeam

25

The International Handbook of Public Financial Management Allen Hemming Potter

19

International Loan Documentation Wright

18

Islamic Banking and Finance Masood Islamic Economics and Finance Langton Trullols Turkistani

3 13

Izzi Oricchio Vitale Basel III, Credit Rating Systems 18

J Japan’s Financial Slump Suzuki Jowett Jowett Private Equity

5 13

K Kenyon Stamm Discounting, Libor, CVA and Funding

32

New

22

Molyneux Bank Strategy, Governance and Ratings

Klonowski Private Equity in Poland

24

Money, Banking, and Financial Markets Ball

Kruck Private Ratings, Public Regulations

16

The Money Trap Pringle

9

The Global Curse of the Federal Reserve Brown Grant The Business of Giving

Kindleberger Aliber Manias, Panics and Crashes

L Langton Trullols Turkistani Islamic Economics and Finance

13

Legacy of the Crash Casey

17

Leisering The New Regulatory State

26

Leone Vento Credit Guarantee Institutions and SME Finance

5

Liberalizing Financial Services and Foreign Direct Investment Páez

3

Liedtke Monkiewicz The Future of Insurance Regulation and Supervision

17

The Life Cyclists Read

15

Macdonald Genesis of the Financial Crisis

9 11

Muchlinski Central Banks and Coded Language

10

Murinde Bank Regulatory Reforms in Africa

16

Manias, Panics and Crashes Kindleberger Aliber

22

6

N Neoliberalism in Crisis Overbeek van Apeldoorn

14

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