In September 2022, a wave of normal people robbed banks in Lebanon. What made these events more newsworthy than typical bank robberies was that most of these people were only robbing the banks to get their own money back. Due to a financial crisis in Lebanon, banks were not letting people access their own cash […]
⟩⟩ This book describes the theory and practice of corpo-rate finance. We hardly need to explain why financial managers have to master the practical aspects of their job, but we should spell out why down-to-earth manag-ers need to bother with theory. Managers learn from experience how to cope with routine problems. But the best managers […]
My ah-ha moment on digital assets came during a discussion with Ric Edelman. But the revelation didn’t come from Ric. I was interviewing him at a conference I was hosting for Barron’s “Hall of Fame” financial advisors. To even get into the room, they had to clear a very high bar: 10 years or more […]
There has never been a more exciting time to teach money and banking. The recent worldwide financial crisis and the coronavirus pandemic cast a spotlight on the importance of banks, financial markets, and monetary policy to the health of our economy. I experienced this firsthand when I served as a Governor of the Federal Reserve […]
The last 35 years have been dramatic for the financial services industry. In the 1990s and 2000s, boundaries between the traditional industry sectors, such as commercial banking and investment banking, broke down and competi-tion became increasingly global in nature. Many forces contributed to this breakdown in interindustry and intercountry barriers, including financial innovation, technology, taxation, […]
We begin this story in Sweden, where a schoolgirl of eight years of age began her journey toward becoming one of the most in?uential leaders in the world. Early stirrings of her ascent started during her primary school years, when her teachers showed ?lms about the degradation of the world’s environment: plastic junking up oceans, […]
Like its predecessors, the thirteenth edition of Analysis for Financial Management is for nonfinancial executives and business students interested in the practice of financial management. It introduces standard techniques and recent advances in a practical, intuitive way. The book assumes no prior background beyond a rudimentary and perhaps rusty familiarity with financial statements—although a healthy […]
Let us follow the logic of things from the beginning. Or, rather, from the end: modern times. We are, as I am writing these lines, witnessing a complete riot against some class of experts, in domains that are too difficult for us to understand, such as macroeco-nomic reality, and in which not only is the […]
The subject of this book is the financial management of multinational enterprises (MNEs)—multinational financial management. MNEs are firms—both for-profit companies and not-for-profit organizations—that have operations in more than one country and conduct their business through branches, foreign subsidiaries, or joint ventures with host country firms. Fundamentals of Multinational Finance, Sixth Edition, reflects the juxtaposed forces […]
“Fuck, you’re making me rummage around the attic,” said Elon Musk. We sat in his living room, but the metaphor still fit. Musk was about to tell me the story of PayPal. At the moment we met, in January 2019, PayPal—a company he cofounded some two decades earlier—was likely the furthest thing from his mind. […]
AAA Rating AAA Rating refers to the maximum potential credit rating that a credit ratings bureau can award to an issuing entity’s bonds. Such a credit rating represents a superb level of creditworthiness. It means that the issuing entity is easily capable of meeting its various financial obligations. The three major ratings agencies of Moody’s, […]
Our goal in creating the Handbook on Financial Literacy was to edit a comprehensive reference work that would be useful to researchers, teachers, students, and policymakers. Interest in and work about financial literacy has exploded in recent years. While the vast amount of content available provides opportunities, it also creates challenges to those searching for […]