…w years. Offering profit-hungry money managers and institutional investors the promise of far greater rewards than traditional fixed securities, these fickle instruments also entail far greater risk. Due, in great part, to the sometimes violent ways in which these new fixed securities respond to changes in interest rates, old imprecise rules of thumb that worked so well in traditional markets only lead to disaster when applied to the likes of forw…Read More

…Governance model and boardroom consultant Caroline Oliver demonstrate that the value a board should add is not to the company’s management but to the company’s owners. Briefly and clearly explained, this simple yet profound system clarifies the board, chair, and CEO roles. Its appealing logic empowers directors and senior management alike. The authors first examine the kind of value that boards typically add, and suggest a redefinition and elevati…Read More

…ises Exposes readers to a wide range of subjects described and analyzed by the best scholars Volume 1A covers corporate finance: how businesses allocate capital – the capital budgeting decision – and how they obtain capital – the financing decision. Though managers play no independent role in the work of Miller and Modigliani, major contributions in finance since then have shown that managers maximize their own objectives. To understand the firm’s…Read More