State-of-the-art techniques and tools needed to facilitate effective credit portfolio management and robust quantitative credit analysis Filled with in-depth insights and expert advice, Active Credit Portfolio Management in Practice serves as a comprehensive introduction to both the theory and real-world practice of credit portfolio management. The authors have written a text that is technical enough both in terms of background and implementation to cover what practitioners and researchers need for actually applying these types of risk management tools in large organizations but which at the same time, avoids technical proofs in favor of real applications. Throughout this book, readers will be introduced to the theoretical foundations of this discipline, and learn about structural, reduced-form, and econometric models successfully used in the market today. The book is full of hands-on examples and anecdotes. Theory is illustrated with practical application. The authors' Website provides additional software tools in the form of Excel spreadsheets, Matlab code and S-Plus code. Each section of the book concludes with review questions designed to spark further discussion and reflection on the concepts presented.
The MBA is probably the hottest ticket among the current university graduate degree offerings--every year, more than 120,000 students enroll in MBA programs in the United States, and the estimates in Europe do not lag far behind. In addition, job prospects have never looked better for business school graduates; corporations are hiring more business school graduates every year, and compensating them more handsomely. The Future of the MBA provides a sorely needed detailed and systematic review of the major contemporary debates on management education. At the same time, it makes a striking new proposal that will certainly have an impact in business schools: that managers need to develop a series of qualitative tacit skills which could be appropriately developed by integrative curricula brought from different disciplines, including sociology, philosophy, and other social sciences. Moldoveanu and Martin, both involved in the greatly respected integrative business education program at the Rotheman School of Management, provide a guide on how to design a reliable integrated program for management students. One of the main assets of the book is that it relies not just on speculative thinking, but on real life experience, and that it also includes case studies that will appeal to practicing managers. As an authoritative reference on MBA education, it will appeal to faculty and staff of business schools, as well as students in related fields like education and public policy.
A Grim Almanac of Old Berkshire is a day-by-day catalogue of ghastly tales dating from the twelfth to the twentieth centuries. Full of torment and torture, heinous homicides and cataclysms of nature, these pages contain multiple murders, horrendous hauntings and audacious thefts. Have you heard the story of the pub landlord who attempted to end it all by leaping down his own well? All he achieved was a broken ankle. Also featured here are the Watchfield farmer who tried to turn his wife into cooking fat, the family who charged people to view their relative's decapitated body, and the violent poltergeist activity that took place at the old forge at Finchampstead and made national news headlines in 1926. This compilation of grim deeds contains a veritable plethora of poisonings, assaults, drownings, kidnappings, suicides and disasters. If you have ever wondered about what nasty goings-on occurred in the Berkshire of yesteryear, then look no further – it's all here. But do you have the stomach for it?
Ten years after the U. S. Civil War, a group of men in Rhode Island made a conserted effort to rescue the widely scattered writings of Roger Williams. Few sets were printed though, and under the guidance of Perry Miller, 'The Complete Writings of Roger Williams' were brought back in 1963, but still in short numbers. The present collection now makes these volumes available to readers in their original orthography. The theme of religious liberty is dominant in these volumes, running through Williams's correspondence with John Cotton and on through his famous pair of works on 'The Bloudy Tenent of Persecution.' All of the extant shorter writings and letters of Roger Williams are included in this set, along with two significant works resulting from his engagement with Native Americans: his seminal 'Key into the Language of America and Christenings Make Not Christians.
Discusses an important yet often misunderstood topic in American History Camp Chase was a major Union POW camp and also served at various times as a Union military training facility and as quarters for Union soldiers who had been taken prisoner by the Confederacy and released on parole or exchanged. As such, this careful, thorough, and objective examination of the history and administration of the camp will be of true significance in the literature on the Civil War.
The comprehensive guide to private market asset allocation Asset Allocation and Private Markets provides institutional investors, such as pension funds, insurance groups and family offices, with a single-volume authoritative resource on including private markets in strategic asset allocation. Written by four academic and practitioner specialists, this book provides the background knowledge investors need, coupled with practical advice from experts in the field. The discussion focuses on private equity, private debt and private real assets, and their correlation with other asset classes to establish optimized investment portfolios. Armed with the grounded and critical perspectives provided in this book, investors can tailor their portfolio and effectively allocate assets to traditional and private markets in their best interest. In-depth discussion of return, risks, liquidity and other factors of asset allocation takes a more practical turn with guidance on allocation construction and capital deployment, the “endowment model,” and hedging — or lack thereof. Unique in the depth and breadth of information on this increasingly attractive asset class, this book is an invaluable resource for investors seeking new strategies. Discover alternative solutions to traditional asset allocation strategies Consider attractive returns of private markets Delve into private equity, private debt and private real assets Gain expert perspectives on correlation, risk, liquidity, and portfolio construction Private markets represent a substantial proportion of global wealth. Amidst disappointing returns from stocks and bonds, investors are increasingly looking to revitalise traditional asset allocation strategies by weighting private market structures more heavily in their portfolios. Pension fund and other long-term asset managers need deeper information than is typically provided in tangential reference in broader asset allocation literature; Asset Allocation and Private Markets fills the gap, with comprehensive information and practical guidance.
This book aims to create a strong understanding of the empirical basis for the equity risk premium. Through the research and anaylsis of two scholars who are experts in this field, this volume presents the key issues that are paramount to investors, including whether or not to use historical data as a method of equity investing, and can the equity premium reflect changes in fundamental values and cash flows of the market.
This emphasis of this collection is upon the history of courts and their procedures, they also illustrate the varied approaches and themes of legal history today.
The Irregular School explores the foundations of the current controversies and argues that continuing to think in terms of the regular school or the special school obstructs progress towards inclusive education.
Pleadings Without Tears has become established as one of the most successful books on practical legal drafting in the context of litigation. This new eighth edition is fully updated to take account of Civil Procedure Rule (CPR) changes since the last edition. The book takes a practical and insightful look at the subject of legal drafting, enabling the reader to become more confident in approaching this often unnecessarily daunting subject. It focuses on core skills and fundamental rules while clearly addressing each stage of the process and goes beyond a straightforward setting out of the precedents and authorities relevant to statements of case. It gives clear examples of how to set out relevant matters with clarity and precision and encourages the reader to give full consideration to concise and clear identification of the subject matter of the action, the issues of the case and the parties' respective positions in respect to those issues. With a wealth of practical examples and anecdotes - and illustrated throughout with cartoons - the light and entertaining style, combined with detailed analysis and explanation, enables the reader to easily acquire a good understanding of drafting.
For the last two decades, IS researchers have conducted empirical studies leading to a better understanding of the impact of Systems Analysis and Design methods in business, managerial, and cultural contexts. SA&D research has established a balanced focus not only on technical issues, but also on organizational and social issues in the information society..This volume presents the very latest, state-of-the-art research by well-known figures in the field. The chapters are grouped into three categories: techniques, methodologies, and approaches.
Ten years after the U. S. Civil War, a group of men in Rhode Island made a conserted effort to rescue the widely scattered writings of Roger Williams. Few sets were printed though, and under the guidance of Perry Miller, 'The Complete Writings of Roger Williams' were brought back in 1963, but still in short numbers. The present collection now makes these volumes available to readers in their original orthography.The theme of religious liberty is dominant in these volumes, running through Williams's correspondence with John Cotton and on through his famous pair of works on 'The Bloudy Tenent of Persecution.' All of the extant shorter writings and letters of Roger Williams are included in this set, along with two significant works resulting from his engagement with Native Americans: his seminal 'Key into the Language of America and Christenings Make Not Christians.
McLaren: The Engine Company is the previously untold story of McLaren Engines, an American company founded in 1969 by Bruce McLaren and his partners to build engines for McLaren's legendary Can-Am and Indy Cars. From this base in suburban Detroit were born the mighty big-block Chevrolet V8s that powered the iconic orange cars to two of their five consecutive Cam-Am championships. McLaren's busy dyno rooms also spawned the howling turbo Offenhausers that put Mark Donahue and Johnny Rutherford in Victory Lane at Indianapolis three times between 1972 and 1976. For decades this non-descript shop was the hotbed of horsepower for factories and top independents alike. McLaren Engines developed the turbocharged Cosworth DFV Formula 1 engine that powered Indy cars for both Team McLaren and Penske Racing. It rendered BMW's turbo engine for U.S. IMSA racing that later became BMW's Formula 1 weapon. The long list of race engines developed here powered Buick Indy and IMSA cars, BMW GTP cars, Cadillac LeMans prototypes, Porsche Trans-Am 944s and David Hobbs' F5000 single seaters. There were McLaren-built big-block turbo V8s for offshore boat racing and even a Cosworth-Vega engine for American dirt tracks! Author Roger Meiners combines his life-long passion for motor racing and technology with his historian's sensibilities to make the engines, cars, and key personalities come alive within this book's pages. Ride along with Meiners as he uncovers little-known details of the company's transition from a race shop to an engineering company, developing lust-worthy performance cars such as the sensational 1987 Buick GNX, the 1989 Pontiac Grand Prix Turbo, the FR500 Ford Mustang concept, and other projects that the public never saw. Today the company, known as McLaren Engineering, is a subsidiary of Canada-based Linamar Corporation, and is sought after by global automakers for its unrivaled testing, development and manufacturing capability.
Perhaps no topic is more heated, and the sources more tendentious, than that of Civil War prisons and the treatment of prisoners of war (POWs). Partisans of each side, then and now, have vilified the other for maltreatment of their POWs, while seeking to excuse their own distressing record of prisoner of war camp mismanagement, brutality, and incompetence. It is only recently that historians have turned their attention to this contentious topic in an attempt to sort the wheat of truth from the chaff of partisan rancor. Roger Pickenpaugh has previously studied a Union prison camp in careful detail (Camp Chase) and now turns his attention to the Union record in its entirety, to investigate variations between camps and overall prison policy and to determine as nearly as possible what actually happened in the admittedly over-crowded, under-supplied, and poorly-administered camps. He also attempts to determine what conditions resulted from conscious government policy or were the product of local officials and situations. A companion to Pickenpaugh's Captives in Blue.
The exciting new edition of this well-loved textbook offers a fully expanded and revised account and analysis of the youth justice system in the UK, taking into account and fully addressing the significant changes that have taken place since the second edition in 2007. The book maintains its critical analysis of the underlying assumptions and ideas behind youth justice, as well as its policy and practice, laying bare the inadequacies, inconsistencies and injustices of practice in the UK. This edition will offer an important update in light of intervening changes, as reflected in a change of government and shifting patterns of interventions and outcomes. This book will be an important resource for youth justice practitioners and will also be essential to students taking courses in youth crime and youth justice.
In John W. Barriger III: Railroad Legend, historian H. Roger Grant details the fascinating life and impact of a transportation tycoon and "doctor of sick railroads." After graduating from the Massachusetts Institute of Technology, John W. Barriger III (1899–1976) started his career on the Pennsylvania Railroad as a rodman, shop hand, and then assistant yardmaster. His enthusiasm, tenacity, and lifelong passion for the industry propelled him professionally, culminating in leadership roles at Monon Railroad, Pittsburgh and Lake Erie Railroad, Missouri-Kansas-Texas Railroad and the Boston and Maine Railroad. His legendary capability to save railroad corporations in peril earned him the nickname "doctor of sick railroads," and his impact was also felt far from the train tracks, as he successfully guided New Deal relief efforts for the Railroad Division of the Reconstruction Finance Corporation during the Depression and served in the Office of Defense Transportation during World War II. Featuring numerous personal photographs and interviews, John W. Barriger III is an intimate account of a railroad magnate and his role in transforming the transportation industry.
“A riveting account that reaches beyond the market landscape to say something universal about risk and triumph, about hubris and failure.”—The New York Times NAMED ONE OF THE BEST BOOKS OF THE YEAR BY BUSINESSWEEK In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the culture of Wall Street itself contributed to both their rise and their fall. When it was founded in 1993, Long-Term was hailed as the most impressive hedge fund in history. But after four years in which the firm dazzled Wall Street as a $100 billion moneymaking juggernaut, it suddenly suffered catastrophic losses that jeopardized not only the biggest banks on Wall Street but the stability of the financial system itself. The dramatic story of Long-Term’s fall is now a chilling harbinger of the crisis that would strike all of Wall Street, from Lehman Brothers to AIG, a decade later. In his new Afterword, Lowenstein shows that LTCM’s implosion should be seen not as a one-off drama but as a template for market meltdowns in an age of instability—and as a wake-up call that Wall Street and government alike tragically ignored. Praise for When Genius Failed “[Roger] Lowenstein has written a squalid and fascinating tale of world-class greed and, above all, hubris.”—BusinessWeek “Compelling . . . The fund was long cloaked in secrecy, making the story of its rise . . . and its ultimate destruction that much more fascinating.”—The Washington Post “Story-telling journalism at its best.”—The Economist
This book finds a broad domain of relevance in statistics and the social sciences. Its conceptual development is supported by applications to economics and income distribution, finance, education, demographics and actuarial science, political studies, psychology, and general statistics. Fresh perspectives on directional complexity have generated an informational theory of ‘more versus less’, with representative polar outcomes as good or bad, or rich or poor. New duality metrics for spread and asymmetry have resulted, motivated by internal perspectives on the part of subjects, such as attitudes to their comparative (dis)advantage. This book is a readable review of these developments. Concepts and applications are described in tandem with each other. They consolidate recent contributions to the research literature, augmented with fresh insights and applications. Dynamic extensions include modeling shifting social attitudes, while the broader agenda encompasses topical areas such as subjectivist probability, investment decision making, and income distribution.
The shorter pieces reproduced here are drawn chiefly from the author’s large output of review articles and reviews of the last fifteen years. Though there is some shared subject matter with R.C. Richardson’s new collection on Social History, Local History and Historiography (Cambridge Scholars Publishing, 2011), this volume significantly enlarges the range of the other in addressing, for example, issues relating to politics and political thinking, London, gendered worlds, servants and servant-keeping, the writing of diaries, and early modern reading habits. Many of the essays have a pronounced historiographical dimension, and a number of them focus on the period of the English Revolution. The two final essays – on ‘Epic Historiography’ and ‘Historians, History Brokers and English Historical Culture’ – extend the coverage to modern times. General readers, not just specialists, will find this book a helpful and accessibly written guide to the subjects under review.
This volume represents the first substantive study of emerging multinationals (MNEs) from Asian economies, drawing on the unique experiences of South Korea and Taiwan. Combining an econometric investigation with detailed case studies of leading Korean and Taiwanese electronics companies, it aims to demystify the nature and theoretical implications of these dynamic economic regions. The author argues that many of these `new multinationals do not possess the characteristics typically ascribed to MNEs, such as technological leadership, strong marketing positions or advanced managerial capabilities. This is highlighted by documentation of recent developments in outward investment from Korea and Taiwan at both micro and macro level. The implications of the recent Asian crisis for the internationaliztion of Korean and Taiwanese firms are also explored.
Classical and behavioral finance are often seen as being at odds, but the idea of “popularity” has been introduced as a way of reconciling the two approaches. Investors like or dislike various characteristics of securities for rational reasons (as in classical finance) or irrational reasons (as in behavioral finance), which makes the assets popular or unpopular. In the capital markets, popular (unpopular) securities trade at prices that are higher (lower) than they would be otherwise; hence, the shares may provide lower (higher) expected returns.This book builds on this idea and expands it in two major ways. First, it introduces a rigorous asset pricing model, the popularity asset pricing model (PAPM), which adds investor preferences for security characteristics other than the risk and expected return that are part of the capital asset pricing model. A major conclusion of the PAPM is that the expected return of any security is a linear function of not only its systematic risk (beta) but also of all security characteristics that investors care about. The other major contribution of the book is new empirical work that, while confirming the well-known premiums (such as size, value, and liquidity) in a popularity context, supports the popularity hypothesis on the basis of portfolios of stocks based on such characteristics as brand value, sustainable competitive advantage, and reputation. Popularity unifies the factors that affect price in classical finance with those that drive price in behavioral finance, thus creating a unifying theory or bridge between classical and behavioral finance.
As the title suggests, this is an ambitious book. Broad in scope and rich in detail, it examines the rise and fall of Japanese foreign direct investment (FDI) in nearly two dozen industries, from electronics and automobile manufacturing to real estate and construction services, in almost every region of the world over the past half century or more. The result is an encyclopedic volume (459 pages with index). . . useful for East Asian business scholars or those interested in the overseas activities of Japanese firms. Farrell has written. . . a sweeping survey of Japanese FDI. Walter Hatch, Journal of Japanese Studies Roger Farrell has written a weighty compendium on Japanese direct foreign investment. At over 450 pages it covers the full array of Japan s diverse industries and sectors, from fisheries and lumber to steel and automobiles, and in the service industries from banking to telecommunications. Apart from the breadth of coverage, this work is even more remarkable considering that Japanese multinationals and their overseas investments have been largely under the radar of social scientists of late, especially so since the ascent of China in the early years of the present decade. David W. Edgington, Growth and Change Enhanced with indexes, appendixes, and editorial opinions on the subject, Japanese Investment in the World Economy is a complete and comprehensive scholarly reference, ideal for college and community library economics collections. Midwest Book Review The Economics Shelf This book examines Japanese Foreign Direct Investment (FDI) in the world economy over more than five decades. It provides a unique focus on the internationalisation experience of selected industries, such as forestry, textiles, electronics, motor vehicles, steel and services as well as case studies of individual firms. Roger Farrell considers the theoretical explanations for Japanese FDI and particular motivations which have been an ongoing rationale for FDI, including: energy and resource security the theme of retaining market access the relocation of manufacturing to retain international competitiveness withdrawal after the bubble economy the new phase of investment in the 2000s. Japanese Investment in the World Economy is distinctive in that it examines overseas investment by firms in the primary, manufacturing and services sectors over the period in which the Japanese economy became the second largest in the world. The book provides a succinct overview of Japanese FDI of interest to professionals and students of business, economics, international relations, politics and Japanese culture.
Searching for the 17th Century on Nevis' is the first of a series of monographs dedicated to the archaeological investigation of the landscape, buildings and artefacts of the Eastern Caribbean by the Nevis Heritage Project. This volume presents the results of documentary research and excavation on two sugar plantation sites on the island of Nevis.
Universally recognised as by far the most authoritative work ever published on the subject, The Birds of Africa is a superb multi-contributor reference work, with encyclopaedic species texts, stunning paintings of all species and numerous subspecies, informative line drawings, detailed range maps, and extensive bibliographies. Each volume contains an Introduction that brings the reader up to date with the latest developments in African ornithology, including the evolution and biogeography of African birds. Diagnoses of the families and genera, often with superspecies maps, are followed by the comprehensive species accounts themselves. These include descriptions of range and status, field characters, voice, general habits, food, and breeding habits. Full bibliographies, acoustic references, and indexes complete this scholarly work of reference. This eighth and final volume covers the Malagasy region which comprises Madagascar and the various islands and archipelagos of the Indian Ocean including the Seychelles, the Comoros, Mauritius and Réunion. Every resident and migrant species is covered in full detail, comparable to other volumes in the series, and with a colour map for each species. Vagrants are treated in less detail. All species are illustrated on a beautiful series of 64 colour plates, with original artwork from John Gale and Brian Small. This is a major work of reference on the birds of the region and will remain the standard text for many years to come.
“What are the best investments for me?”... “What about risk?”... “Do I need professional help with my investments and can I afford it?” Mastering the language, concepts, vehicles and strategies of investing can be challenging. Fundamentals of Investing shows how to make informed investment decisions, understand the risks inherent in investing and how to confidently shape a sound investment strategy. Fundamentals of Investing 3rd edition is completely updated and introduces core concepts and tools used by Australian investors, providing a firm understanding of the fundamental principles of investments. Focusing on both individual securities and portfolios, students learn how to develop, implement and monitor investment goals after considering the risk and return of both markets and investment vehicles. Fundamentals of Investing is suitable for introductory investments courses offered at university undergraduate or post-graduate level, as well as colleges, professional certification programs and continuing education courses.
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