Stock Markets, Investments and Corporate Behavior examines the nature of stock market growth and decline, the function of financial markets, and their implications for commercial companies. Traditionally, finance academics have attempted to understand financial markets and commercial companies as physicists approach their subject matter: with a set of laws in mind that govern the field. But finance is not physics. The academic's approach falsely assumes that financial markets can be understood as systems within which self-interested maximizers behave in logical ways that are coordinated by the invisible hand of the price mechanism. This book demonstrates that finance is more appropriately understood as a field in which investors and finance managers may or may not use rational calculations as the basis of their decision making.This book opens with an effective dismantling of the traditional mathematical approach used to understand and describe markets and corporate financial behavior. In its place, the mathematics of growth and decline is developed anew, while holding to the realization that the decisions of organizations rely on the choices of real people with limited information available to them. The book will appeal to all students who wish to reappraise their knowledge of finance in a thoughtful manner. Specifically, this book is designed to appeal to anyone who wishes to refine their understanding of the nature of stock markets and financial growth, optimal portfolio allocation, option pricing, asset valuation, corporate financial behavior, and what it means to be ethical in our financial institutions.
This pioneering book describes the applications of agent-based modeling to financial markets. It presents a new paradigm for finance, where markets are treated as complex systems whose behavior emerges as a result of interactions of market participants, market institutions, and market rules. This includes both a presentation of the conceptual model and its software implementation. It also summarises the result of the profound research on the successful practical application of this new approach to answer questions regarding the Nasdaq Stock Market's decimalization that was implemented in 2001. The book presents conceptual foundations for modeling markets as complex systems. It describes the agent-based model of the Nasdaq stock market, including strategies used by market-makers and investors, market participants interactions, and impacts of rules and regulations. It includes analyses of simulation behavior, comparison with the behaviors observed in the real-world markets (existence of fat tails, spread clustering, etc.), and predictions about possible outcomes of decimalization. A framework for calibrating the market behavior and individual market-makers strategies to historical data is also presented.
This history of the global securities market is the product of over 30 years of research by one of the world's foremost financial historians. It covers all aspects of the history of the securities markets from its beginnings in Medieval Venice through Amsterdam and London to its operations in Tokyo and New York today. It also integrates the history of both stocks and bonds, established and emerging markets, stock exchanges and over-the- counter trading, and the crises and continuity that have made the global securities market such a force in the world over the centuries. A path-breaking book unlike any other written before, it provides in one volume an authoritative account of the global securities market from its earliest developments to the present day.
The laugh out-loud humor is captivating. The true recounts go in rapid succession, from one hilarious story to the next. The backdrop of this book is a shy skinny kid growing up in small towns. From kid to adulthood is non-stop hilarity. It immediately grabs you with the first story. There is something for everyone in this book. David M. Goodman includes five of his fictional stories. There is a reason he chose 'lower-case letters' for the title "dirt road....old farmhouse." The book stands alone to share Humor and Inspiration with, readers of all ages. If you don't want to laugh, this is the wrong book
Fundamentals of Marketing provides a sound appreciation of the fundamentals of the theory and practice of marketing. Using case studies drawn from a cross section of sectors, in particular the banking, hospitality, retail and public service sectors this textbook critically evaluates the effectiveness of different marketing strategies and approaches. Exploring the principles of marketing this volume engages the reader, not only in theory but also in practice, using a broad range of real-life case studies such as Coca Cola, Apple, FCUK, Virgin, Amazon.com, Barnes and Noble, Dyno Rod and New Zealand wool.
The text analyzes the marketing mix: product development, pricing, promotion (and communications marketing) and place (channels of distribution). It also emphasizes the role of Marketing Information Systems (MIS) using internal reporting, marketing intelligence and marketing research including the contribution from marketing research agencies and reviews the role of technology, e-commerce and the Internet in supporting successful marketing.
Featuring a support website that provides student and lecturer resources, Fundamentals of Marketing conveys the main principles of marketing in a challenging yet accessible manner and provides the reader with insights into the workings of marketing today.
Visit the Companion website at www.routledge.com/textbooks/9780415370974
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