Author: Jan Toporowski
Publisher: Oxford University Press
ISBN: 0192548220
Category : Business & Economics
Languages : en
Pages : 194
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Book Description
Interest and Capital brings together Michał Kalecki's published fragments on monetary theory and policy to explore his distinctive approach to money and its circulation in the capitalist economy. Toporowski lays out Kalecki's critique of the international monetary arrangements proposed by Keynes and White at Bretton Woods, casting new light on the international monetary imbalances that have since disrupted the international economy. The greater importance of debt management revealed in Kalecki's monetary analysis makes it particularly relevant to the policy dilemmas of developing countries and governments facing high levels of debt in the wake of recent global crises. In Kalecki's theoretical approach, money has both an industrial and a financial circulation. Corporate finance takes its place at the centre of monetary considerations because it is the money of capitalists that is the autonomous determinant of expenditure in the economy. This theory has important implications for the rate of interest, which is not related to the rate of profit, nor to the kind of portfolio adjustments necessary to maintain portfolio equilibrium, but to the kind of financing that may prevail in any given phase of the business cycle.
Author: Jack Hirshleifer
Publisher: Prentice Hall
ISBN:
Category : Business & Economics
Languages : en
Pages : 344
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Book Description
Author: Chris f Agar
Publisher: Elsevier
ISBN: 0080476384
Category : Business & Economics
Languages : en
Pages : 448
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Book Description
The requirement to maximise value for shareholders is at the core of any corporate investment or financing decision. The intrinsic value of proposed investments should be assessed before deciding how much capital to allocate; the benefits and risks associated with each available source of finance should be considered when capital is being raised; and capital, and any associated financial risks, should be managed in a way that continues to maximise value. At every stage, an analysis should be carried out to ensure the decision is optimal for shareholders and other capital providers. This book provides practical guidance on the application of financial evaluation techniques and methods (mainly covered in Appendices), as well as comprehensive coverage of traditional corporate finance topics, discussed in the context of capital investment, raising and management and financial risk management (using derivatives). Models, formulae and other quantitative techniques are illustrated in over 100 examples (using only basic mathematics). Topics discussed include the following: * business appraisal using financial ratios * corporate valuation (mainly discounted cash flow and real options) *investment appraisal techniques * acquisition structuring and evaluation * the nature of loans and loan agreements * features and pricing of bonds (straight and convertible) * leasing (including leveraged leasing) * equity raising (Initial Public Offerings) * long and short term capital management * basic pricing of derivatives (forwards, futures, options, swaps) * interest rate and currency risk management using derivatives Capital Investment & Financing provides a comprehensive, in-depth coverage of concepts, methods and techniques involved when evaluating acquisitions and other investments, assessing financing opportunities, and managing capital. The core chapters provide practical guidance on key corporate finance topics; the Appendices contain more quantitative material, focusing on pricing techniques. Examples are used throughout, and an integrated case study (fictional) in the final Appendix uses many of the techniques discussed. *Discusses all key areas of corporate investing and financing, focusing on key financial issues *Concise, thorough and technical, it enables to reader to acquire knowledge effectively *Can be used in everyday analysis and decision making
Author: Lawrence H. White
Publisher: Routledge
ISBN: 1134862288
Category : Business & Economics
Languages : en
Pages : 240
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Book Description
Produced throughout the first fifteen years of Hayek's career, the writings collected in Capital and Interest see Hayek elaborate upon and extend his landmark lectures that were published as Prices and Production and work toward the technically sophisticated line of thought seen in his later Pure Theory of Capital. Illuminating the development of Hayek's detailed contributions to capital and interest theory, the collection also sheds light on how Hayek's work related to other influential economists of the time. Highlights include the 1936 article 'The Mythology of Capital' presented here alongside Frank Knight's criticisms of the Austrian theory of capital that prompted it - and 'The Maintenance of Capital', with subsequent comments by the English economist A. C. Pigou. These and other familiar works are accompanied by lesser-known articles and lectures, including a lecture on technological progress and excess capacity. An introduction by the book's editor, leading Hayek scholar Lawrence H. White, places Hayek's contributions in careful historical context, with ample footnotes and citations for further reading, making this a touchstone addition to the University of Chicago Press's Collected Works of F. A. Hayek series.
Author: Frank A. Fetter
Publisher: Ludwig von Mises Institute
ISBN: 1610165047
Category :
Languages : en
Pages : 412
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Book Description
Author: Eugen von Böhm-Bawerk
Publisher: Ludwig von Mises Institute
ISBN: 1610163648
Category : Capital
Languages : en
Pages : 468
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Book Description
Author: Teinosuke Otani
Publisher: Springer
ISBN: 3319659545
Category : Political Science
Languages : en
Pages : 492
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Book Description
This textbook offers a comprehensive guide to the systematic structure of capitalism, while at the same time introducing readers to all three volumes of Marx’s Capital. Based on his extensive expertise on Marx’s critique of political economy, the author reveals the specific structure of production in capitalist societies and explicates what sets this system apart from other modes of production. Marx’s political economy is explained in a systematic and easy-to-understand manner, using numerous illustrative diagrams to complement the text. This textbook will appeal to all students and scholars looking for a more comprehensive, systematic and theoretical explanation of capitalism, equipping them with a solid theoretical understanding of its core structure.
Author:
Publisher: Lulu.com
ISBN: 9291316695
Category : Bank capital
Languages : en
Pages : 294
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Book Description
Author: Victoria Ivashina
Publisher: Princeton University Press
ISBN: 0691217084
Category : Business & Economics
Languages : en
Pages : 264
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Book Description
How to overcome barriers to the long-term investments that are essential for solving the world’s biggest problems There has never been a greater need for long-term investments to tackle the world’s most difficult problems, such as climate change, human health, and decaying infrastructure. And it is increasingly unlikely that the public sector will be willing or able to fill this gap. If these critical needs are to be met, the major pools of long-term, patient capital—including pensions, sovereign wealth funds, university endowments, and wealthy individuals and families—will have to play a large role. In this accessible and authoritative account of long-term capital investment, two leading experts on the subject, Victoria Ivashina and Josh Lerner, highlight the significant hurdles facing long-term investors and propose concrete ways to overcome these difficulties.
Author: Lenos Trigeorgis
Publisher: Bloomsbury Publishing USA
ISBN: 0313020825
Category : Business & Economics
Languages : en
Pages : 382
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Book Description
This compilation integrates various new contributions to the growing real options literature. Recent developments in the valuation of capital investment opportunities seen as real options (e.g. to defer, expand, abandon, or switch) have provided the tools and unlocked the possibilities to revolutionize the field of capital budgeting. The resulting insights, strategies, and techniques enable quantifying the thus far elusive elements of managerial operating flexibility and strategic interactions. These are vital to successfully capitalize on favorable future investment opportunities or limit losses from adverse market developments. This book presents various models and operating strategies, and a variety of applications ranging from acquisitions and divestitures, to natural resource development and pollution compliance. It is intended for both the academic and the professional market. The book's contributions are divided into five parts, covering sections on real options and alternative valuation paradigms for capital investment analysis; on the analysis of general exchange or switching options, and interdependencies among multiple such options; on strategic acquisitions, infrastructure, and foreign investment options; on mean reversion/ alternative formulations in natural resource investments, shipping, and start-up ventures; and on other applications in pollution compliance, land development, flexible manufacturing, and financial default options. Both academic and practitioner interest in these developments is unusually high. The book can serve as supplementary material for the academic market, e.g., in advanced finance courses in option pricing or capital budgeting, in doctoral seminars, and as a library resource. It may also be of interest to the professional market (e.g. corporate planners and finance executives in the oil, pharmaceutical, auto and a variety of other industries), academics from related areas (e.g. decision analysts or economists), as well as to international readers (academics, doctoral students, and professionals).
