Theory And Reality In Financial Economics

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Theory and Reality in Financial Economics

Author : George M. Frankfurter
Publisher : World Scientific
ISBN 13 : 9812770003
Total Pages : 238 pages
Book Rating : 4.8/5 (127 download)

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Book Synopsis Theory and Reality in Financial Economics by : George M. Frankfurter

Download or read book Theory and Reality in Financial Economics written by George M. Frankfurter and published by World Scientific. This book was released on 2007 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The current literature on financial economics is dominated by neoclassical dogma and, supposedly, the notion of value-neutrality. However, the failure of neoclassical economics to deal with real financial phenomena suggests that this might be too simplistic of an approach. This book consists of a collection of essays dealing with financial markets'' imperfections, and the inability of neoclassical economics to deal with such imperfections. Its central argument is that financial economics, as based on the tenets of neoclassical economics, cannot answer or solve the real-life problems that people face. It also shows the direct relationship between economics and politics OCo something that is usually denied in academic models, given that science is supposed to be value-neutral. In this thought-provoking and avant-garde book, the author not only exposes what has gone wrong, but also suggests reforms to both the academic and the political-economic systems that might help make markets fair rather than efficient. Drawing on interdisciplinary fields, this book will appeal to readers who are interested in finance, economics, business, the political economy and philosophy. Sample Chapter(s). Foreword (37 KB). Chapter 1: Method and Methodology (146 KB). Contents: Method and Methodology; What is All Efficiency?; Still Autistic Finance; The Young Finance Faculty''s Guide to Publishing; Prolific Authors in Finance; For-Profit Education: An Idea That Should be Put to Rest?; Weep Not for Microsoft: Monopoly''s Fatal Exception; The Socio-Economics of Scandals; Desperately Seeking Toto; And Now for Something Entirely Different; After the Ball; Capitalism or Industrial Fiefdom; The Theory of Fair Markets (TFM): Toward a New Finance Paradigm. Readership: Graduate students of finance; students of economics, economic methodology and philosophy of science."

EVA as the Best Financial Performance Measure: the Theory of Reality

Author : Alina Ignatiuk
Publisher : GRIN Verlag
ISBN 13 : 3640316096
Total Pages : 25 pages
Book Rating : 4.6/5 (43 download)

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Book Synopsis EVA as the Best Financial Performance Measure: the Theory of Reality by : Alina Ignatiuk

Download or read book EVA as the Best Financial Performance Measure: the Theory of Reality written by Alina Ignatiuk and published by GRIN Verlag. This book was released on 2009-04 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2008 in the subject Business economics - Business Management, Corporate Governance, grade: A, St. Mary's University San Antonio, Texas, language: English, abstract: In this paper these issues will be discussed: -the main purpose and functions of the financial performance management and how it is related to the problem of shareholders value creation, company growth and managers decision making process and management motivation; -the appropriate measures of management performance from the shareholders point of view; -contradictions or goal incongruence between shareholders, management and company long-term growth.

Two-factor Theory: the Economics of Reality

Author : Louis O. Kelso
Publisher :
ISBN 13 : 9780394704821
Total Pages : 202 pages
Book Rating : 4.7/5 (48 download)

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Book Synopsis Two-factor Theory: the Economics of Reality by : Louis O. Kelso

Download or read book Two-factor Theory: the Economics of Reality written by Louis O. Kelso and published by . This book was released on 1967 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Principles of Financial Economics

Author : Stephen F. LeRoy
Publisher : Cambridge University Press
ISBN 13 : 1107024129
Total Pages : 371 pages
Book Rating : 4.1/5 (7 download)

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Book Synopsis Principles of Financial Economics by : Stephen F. LeRoy

Download or read book Principles of Financial Economics written by Stephen F. LeRoy and published by Cambridge University Press. This book was released on 2014-08-11 with total page 371 pages. Available in PDF, EPUB and Kindle. Book excerpt: This second edition includes new chapters on infinite-time security markets and more focus on portfolio choice and risk allocations.

Economic Theory and Reality

Author : Tibor Scitovsky
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 272 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Economic Theory and Reality by : Tibor Scitovsky

Download or read book Economic Theory and Reality written by Tibor Scitovsky and published by Edward Elgar Publishing. This book was released on 1995 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of non-technical papers attempts to bridge the gap between economic theory and economic reality. It focuses on two central themes: the necessity of market imperfections and power as conditions for the proper functioning of the market economy, and the impact of second-hand markets on the macroeconomy. This volume improves access to Professor Scitovsky's work, much of which was originally published either in foreign languages or outside the mainstream literature.

Theory of Valuation

Author : Sudipto Bhattacharya
Publisher : World Scientific
ISBN 13 : 9812701028
Total Pages : 387 pages
Book Rating : 4.8/5 (127 download)

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Book Synopsis Theory of Valuation by : Sudipto Bhattacharya

Download or read book Theory of Valuation written by Sudipto Bhattacharya and published by World Scientific. This book was released on 2005 with total page 387 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first edition of Theory of Valuation is a collection of important papers in the field of theoretical financial economics published from 1973 to 1986, and original accompanying essays contributed by eminent researchers including Robert C Merton, Edward C Prescott, Stephen A Ross, and Joseph E Stiglitz. Since then, with the perspective of major theoretical strides in the field, the book has more than fulfilled its original expectations. The realization that it remains today a compendium of classic articles and a must-read for any serious student in theoretical financial economics, has prompted the publication of a new edition. This second edition presents a summary statement of significant research in theoretical financial economics for both the specialist and non-specialist financial economist. It also provides material for PhD-level courses covering valuation theory, and elective reading for advanced MasterOCOs and undergraduate courses. In addition to reproducing the original contributions, this edition includes the seminal paper by Edward C Prescott and Rajnish Mehra, OC Recursive Competitive Equilibrium: The Case of Homogeneous Households, OCO originally published in Econometrica in 1980."

Financial Markets Theory

Author : Emilio Barucci
Publisher : Springer
ISBN 13 : 1447173228
Total Pages : 836 pages
Book Rating : 4.4/5 (471 download)

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Book Synopsis Financial Markets Theory by : Emilio Barucci

Download or read book Financial Markets Theory written by Emilio Barucci and published by Springer. This book was released on 2017-06-08 with total page 836 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work, now in a thoroughly revised second edition, presents the economic foundations of financial markets theory from a mathematically rigorous standpoint and offers a self-contained critical discussion based on empirical results. It is the only textbook on the subject to include more than two hundred exercises, with detailed solutions to selected exercises. Financial Markets Theory covers classical asset pricing theory in great detail, including utility theory, equilibrium theory, portfolio selection, mean-variance portfolio theory, CAPM, CCAPM, APT, and the Modigliani-Miller theorem. Starting from an analysis of the empirical evidence on the theory, the authors provide a discussion of the relevant literature, pointing out the main advances in classical asset pricing theory and the new approaches designed to address asset pricing puzzles and open problems (e.g., behavioral finance). Later chapters in the book contain more advanced material, including on the role of information in financial markets, non-classical preferences, noise traders and market microstructure. This textbook is aimed at graduate students in mathematical finance and financial economics, but also serves as a useful reference for practitioners working in insurance, banking, investment funds and financial consultancy. Introducing necessary tools from microeconomic theory, this book is highly accessible and completely self-contained. Advance praise for the second edition: "Financial Markets Theory is comprehensive, rigorous, and yet highly accessible. With their second edition, Barucci and Fontana have set an even higher standard!"Darrell Duffie, Dean Witter Distinguished Professor of Finance, Graduate School of Business, Stanford University "This comprehensive book is a great self-contained source for studying most major theoretical aspects of financial economics. What makes the book particularly useful is that it provides a lot of intuition, detailed discussions of empirical implications, a very thorough survey of the related literature, and many completely solved exercises. The second edition covers more ground and provides many more proofs, and it will be a handy addition to the library of every student or researcher in the field."Jaksa Cvitanic, Richard N. Merkin Professor of Mathematical Finance, Caltech "The second edition of Financial Markets Theory by Barucci and Fontana is a superb achievement that knits together all aspects of modern finance theory, including financial markets microstructure, in a consistent and self-contained framework. Many exercises, together with their detailed solutions, make this book indispensable for serious students in finance."Michel Crouhy, Head of Research and Development, NATIXIS

Theories of Financial Disturbance

Author : Jan Toporowski
Publisher : Edward Elgar Publishing
ISBN 13 : 1845425731
Total Pages : 203 pages
Book Rating : 4.8/5 (454 download)

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Book Synopsis Theories of Financial Disturbance by : Jan Toporowski

Download or read book Theories of Financial Disturbance written by Jan Toporowski and published by Edward Elgar Publishing. This book was released on 2005 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will be of interest to advanced students looking for an even-handed overview of alternative theories of financial disturbances; academics who need a reference on the historical interrelationships of the literature in the field; and professionals who want to understand how the tools and concepts they use daily have emerged through time and whether there are forgotten lessons to be heeded. Susan K. Schroeder, Review of Political Economy Financial markets have an aura of disturbing instability. In this history of the thought of earlier economists who have studied the processes of finance, Jan Toporowski takes us on a fascinating journey to explore how they saw the impact of finance on the real economy. Not one for formal models, nor for rational expectations, Jan [Toporowski] values historical experience and the insights and experience of earlier great thinkers. Charles A.E. Goodhart, CBE, London School of Economics and Political Science, UK Jan Toporowski s Theories of Financial Disturbance is a tour de force. With his substantial knowledge of financial markets, his deep conceptual understanding of relevant concepts and his exhaustive reading of the essential literature, he is ideally placed to tell an absorbing narrative of, as he writes, critical theories of finance from Adam Smith to the present days and he has. In a world in which finance and industrial and commercial capital are so out of kilter with one another, Toporowski s lucid wisdom is required reading. G.C. Harcourt, University of Cambridge, Jesus College, Cambridge, UK and University of Adelaide, Australia Theories of Financial Disturbance examines how the operations of market-driven finance may initiate and transmit disturbances to the economy at large, by looking in detail at how various economists envisaged such disturbances occurring. This book is more than just a study in the history of economic thought it illustrates how economic debate focuses upon financial disturbance at times of financial instability, and then conveniently discards critical views when such instability recedes. Jan Toporowski looks at the development of critical theories from the views of Adam Smith and François Quesnay, and their reflection in recent new Keynesian ideas of Joseph Stiglitz and Ben Bernanke, through credit cycles in Alfred Marshall and Ralph Hawtrey, to the financial theories of Thorstein Veblen and Irving Fisher. Also studied are the theories of John Kenneth Galbraith, Michal Kalecki, John Maynard Keynes, Charles Kindleberger, Rosa Luxemburg, Hyman P. Minsky, Robert Shiller and Josef Steindl. Not least among the original features of this book are a discussion of Quesnay s attitude towards interest, and a chapter devoted to the work of the Polish monetary economist Marek Breit, whose work inspired Kalecki. Jan Toporowski s fascinating work will find its audience in academics of finance and financial economics, bankers, financiers and policy makers concerned with financial stability as well as anyone looking for arguments on the imperfect functioning of finance.

Intermediate Financial Theory

Author : Jean-Pierre Danthine (Prof.)
Publisher : Academic Press
ISBN 13 : 0123693802
Total Pages : 391 pages
Book Rating : 4.1/5 (236 download)

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Book Synopsis Intermediate Financial Theory by : Jean-Pierre Danthine (Prof.)

Download or read book Intermediate Financial Theory written by Jean-Pierre Danthine (Prof.) and published by Academic Press. This book was released on 2005-07-19 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second edition of this authoritative textbook continues the tradition of providing clear and concise descriptions of the new and classic concepts in financial theory. The authors keep the theory accessible by requiring very little mathematical background. First edition published by Prentice-Hall in 2001- ISBN 0130174467. The second edition includes new structure emphasizing the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing, as well as a new chapter on asset management for the long term investor. "This book does admirably what it sets out to do - provide a bridge between MBA-level finance texts and PhD-level texts.... many books claim to require little prior mathematical training, but this one actually does so. This book may be a good one for Ph.D students outside finance who need some basic training in financial theory or for those looking for a more user-friendly introduction to advanced theory. The exercises are very good." --Ian Gow, Student, Graduate School of Business, Stanford University Completely updated edition of classic textbook that fills a gap between MBA level texts and PHD level texts Focuses on clear explanations of key concepts and requires limited mathematical prerequisites Updates includes new structure emphasizing the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing, as well as a new chapter on asset management for the long term investor

Theory of Financial Decision Making

Author : Jonathan E. Ingersoll
Publisher : Rowman & Littlefield
ISBN 13 : 9780847673599
Total Pages : 506 pages
Book Rating : 4.6/5 (735 download)

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Book Synopsis Theory of Financial Decision Making by : Jonathan E. Ingersoll

Download or read book Theory of Financial Decision Making written by Jonathan E. Ingersoll and published by Rowman & Littlefield. This book was released on 1987 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on courses developed by the author over several years, this book provides access to a broad area of research that is not available in separate articles or books of readings. Topics covered include the meaning and measurement of risk, general single-period portfolio problems, mean-variance analysis and the Capital Asset Pricing Model, the Arbitrage Pricing Theory, complete markets, multiperiod portfolio problems and the Intertemporal Capital Asset Pricing Model, the Black-Scholes option pricing model and contingent claims analysis, 'risk-neutral' pricing with Martingales, Modigliani-Miller and the capital structure of the firm, interest rates and the term structure, and others.

The Theory of Finance

Author : John D. Martin
Publisher : Harcourt Brace College Publishers
ISBN 13 :
Total Pages : 746 pages
Book Rating : 4.3/5 (512 download)

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Book Synopsis The Theory of Finance by : John D. Martin

Download or read book The Theory of Finance written by John D. Martin and published by Harcourt Brace College Publishers. This book was released on 1988 with total page 746 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Microfoundations Of Financial Economics

Author : Yvan Lengwiler
Publisher :
ISBN 13 : 9788122416985
Total Pages : 0 pages
Book Rating : 4.4/5 (169 download)

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Book Synopsis Microfoundations Of Financial Economics by : Yvan Lengwiler

Download or read book Microfoundations Of Financial Economics written by Yvan Lengwiler and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Textbook Takes The Reader From The Level Of Microeconomics Principles Through To Modern Asset Pricing Theory. Yvan Lengwiler Elegantly Links Together Issues That Have In The Past Been The Territory Of General Economic Theorists On The One Hand, And Financial Economists On The Other.In A Sequence Of Carefully Explained Steps, The Reader Learns How The First Welfare Theorem Is Used In Asset Pricing Theory. The Book Then Moves On To Explore Radner Economies And Von Neumann-Morgenstern Decision Theory, And This Section Culminates In Wilson'S Mutuality Principle And The Consumption-Based Capm. This Is Then Put Into A Dynamics Setting, And Term Structure Models Are Introduced. The Empirical Shortcomings Of The Standard Asset Pricing Models Are Extensively Discussed, As Is Research From The Last 20 Years Aimed At Bringing Theory In Line With Reality. The Reader Is Brought Up-To-Date On The Latest Areas Of Concern, Such As Habit Formation, The Consequences Of Heterogeneity, Demographic Effects, Changing Tax Regimes, Market Frictions, And The Implications Of Prospect Theory For Asset Pricing.Aimed At Master Of Phd Students Specializing In Financial Economics, The Book Can Also Be Used As A Supplementary Text For Students Of Macroeconomics At This Advanced Level And Will Be Of Interest To Finance Professionals With A Background In Economics And Mathematics. It Includes Problem (With Solution), And An Accompanying Website Provides Supporting Material For Lecturers.This Special Low-Priced Edition Is For Sale In India, Bangladesh, Bhutan, Maldives, Nepal, Myanmar, Pakistan And Sri Lanka Only.

Financial Economics

Author : Jürgen Eichberger
Publisher : Oxford University Press, USA
ISBN 13 : 9780198774051
Total Pages : 260 pages
Book Rating : 4.7/5 (74 download)

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Book Synopsis Financial Economics by : Jürgen Eichberger

Download or read book Financial Economics written by Jürgen Eichberger and published by Oxford University Press, USA. This book was released on 1997 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Economics is an exciting new field of study that integrates the theory of finance and financial institutions into the main body of economic theory. In doing so, it draws on insights from general equilibrium analysis, information economics, and the theory of contracts. Financial Economics is a self-contained and comprehensive introduction to the field for advanced undergraduate and post-graduate economists and finance specialists. It develops the main ideas in finance theory, including the CAPM, arbitrage pricing, option pricing, and the Modigliani-Millertheorem within an economic framework. Students of economics are shown how finance theory derives from foundations in economic theory, while students of finance are given a firmer appreciation of the economic logic underlying their favourite results. Financial Economics provides all of the technical apparatus necessary to read themodern literature in financial economics and the economics of financial institutions. The book is self-contained in that the reader is guided through branches of the theory, as necessary, in order to understand the main topics. Numerous examples and diagrams illustrate the key arguments, and the main chapters are followed by guides to the relevant literature and exercises for students.

Capitalism, Macroeconomics and Reality

Author : James Crotty
Publisher : Edward Elgar Publishing
ISBN 13 : 1784719021
Total Pages : 448 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis Capitalism, Macroeconomics and Reality by : James Crotty

Download or read book Capitalism, Macroeconomics and Reality written by James Crotty and published by Edward Elgar Publishing. This book was released on 2017-04-28 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays comprising this collection analyze the deep flaws in the methodological foundation of mainstream economic theory, and explain how these flaws make mainstream economics more ideology than sound social science. James Crotty develops alternative theories built on realistic assumptions that can explain most of the disastrous economic and financial developments of the past four decades. His work contributes to the collective creation of a solid theoretical foundation on which to build an understanding of the ‘laws of motion’ of capitalism in the post WWII era.

Money and Exchange

Author : Sasan Fayazmanesh
Publisher : Routledge
ISBN 13 : 1134423187
Total Pages : 282 pages
Book Rating : 4.1/5 (344 download)

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Book Synopsis Money and Exchange by : Sasan Fayazmanesh

Download or read book Money and Exchange written by Sasan Fayazmanesh and published by Routledge. This book was released on 2006-09-27 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether a theoretical system is realistic or not has been a concern in economics, particularly in monetary theory, over the past century. Following John R. Hicks’ proposal that a realistic monetary theory could be constructed along an evolutionary path, starting with the workings of a real market, this volume considers whether we can look to the medieval economy as the point of departure. Drawing upon the work of Aristotle, scholastic economists, Adam Smith, Karl Marx, William Stanley Jevons, Léon Walras and many modern monetary theorists, this intriguing book provides a critical analysis of some basic theories of monetary analysis. Concentrating primarily on certain fundamental building blocks it covers: the theory and mathematical properties of barter and monetary relations the distinction between barter and monetary relations and money and non-money commodities the concept of exchange as an equation, and the notion of the exchange relation as a relation of equality. This groundbreaking study dispels some of the old myths and conjectures concerning money and exchange and opens up the way for the development of new approaches, both realistic and evolutionary, of interest to researchers and students of the history of monetary theory and economic thought.

On the Methodology of Financial Economics

Author : Kavous Ardalan
Publisher : Edward Elgar Publishing
ISBN 13 : 1035311992
Total Pages : 305 pages
Book Rating : 4.0/5 (353 download)

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Book Synopsis On the Methodology of Financial Economics by : Kavous Ardalan

Download or read book On the Methodology of Financial Economics written by Kavous Ardalan and published by Edward Elgar Publishing. This book was released on 2023-06-01 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Utilizing a multi-paradigmatic approach in considering the scientific methodology of mainstream financial economics, and suggesting improvements, this book identifies eleven biases of the scientific methodology of mainstream financial economics, namely: intellectual bias, local bias, fad bias, ideological bias, automaticity bias, confirmation bias, cultural bias, stereotyping bias, under-productivity bias, homogeneity bias, and isolation bias.

Financial Asset Pricing Theory

Author : Claus Munk
Publisher : Oxford University Press, USA
ISBN 13 : 0199585490
Total Pages : 598 pages
Book Rating : 4.1/5 (995 download)

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Book Synopsis Financial Asset Pricing Theory by : Claus Munk

Download or read book Financial Asset Pricing Theory written by Claus Munk and published by Oxford University Press, USA. This book was released on 2013-04-18 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book presents models for the pricing of financial assets such as stocks, bonds, and options. The models are formulated and analyzed using concepts and techniques from mathematics and probability theory. It presents important classic models and some recent 'state-of-the-art' models that outperform the classics.