Книги

В монографии рассмотрены сбережения населения России как экономическая категория, государственное регулирование трансформации сберегательных ресурсов в инвестиции, приоритеты активизации финансовых институтов по повышению эффективности сбережений. Особое внимание уделено прогрессивным формам аккумуляции и эффективного использования сбережений - негосударственным инвестиционным институтам, кредитным организациям, ипотеке, лизингу и инвестиционно-заемной системе. Книга предназначена для студентов, аспирантов и преподавателей экономических вузов, специалистов банков и инвестиционных компаний, руководителей предприятий всех форм собственности, менеджеров, специалистов по труду и занятости.

Предлагаемая читателю книга - первый выпуск серии регулярных информационно-аналитических изданий ГУ-ВШЭ, посвященной проблематике институциональных преобразований в российской промышленности. Анализ охватывает процессы трансформации, произошедшие в 1999-2001 гг. на уровне предприятия, отрасли и сектора промышленности в целом, а также их условия и последствия. Рассмотрены тенденции и факторы изменений в отношениях собственности и корпоративном управлении, включая институт банкротства. Описывается развитие рыночной, кадровой, финансовой, инвестиционной и интеграционной политики предприятий, его последствия для промышленности в целом. Особое внимание уделено двум актуальным вопросам современной России: становлению рынка научно-технической продукции и совершенствованию системы финансовой отчетности предприятий. Издание опирается на широкую информационную основу: результаты формализованных опросов и глубоких интервью с руководителями промышленных предприятий, проведенных ГУ-ВШЭ и другими исследовательскими организациями в 1998-2001 гг.; данные Госкомстата России и Центра экономической конъюнктуры при Правительстве РФ; федеральное законодательство, нормативно-правовые документы министерств и ведомств, данные арбитражной статистики. Книга предназначена для представителей законодательной и исполнительной власти, бизнес-сообщества, донорских международных и зарубежных организаций, а также для российских и зарубежных исследователей, преподавателей вузов и бизнес-школ, аспирантов и студентов магистратуры.

Данная работа посвящена обзору современной теории временной структуры процентных ставок. В работе представлены основные гипотезы, объясняющие временную структуру (гипотезы ожиданий, предпочтения ликвидности, а также гипотезы об изменяющейся во времени премии за срок, сегментации рынков и "предпочитаемой" среды). Приведен краткий обзор их эмпирических проверок. Модели временной структуры отнесены к четырем классам: макроэкономические подходы, факторные стохастические модели, стохастические модели общего равновесия и модели с отсутствием арбитража. Рассмотрены основные модели временной структуры в каждом классе и описаны результаты их эмпирических сравнений.

В книге рассматриваются сущность, формы и функции проявления финансов предприятий, отраслевые особенности организации финансов, оборотные средства и основные фонды, амортизация, доходы и прибыль, финансовое планирование и контрольно-аналитическая работа на предприятиях.

Financial systems are crucial to the allocation of resources in a modern economy. They channel household savings to the corporate sector and allocate investment funds among firms; they allow intertemporal smoothing of consumption by households and expenditures by firms; and they enable households and firms to share risks. These functions are common to the financial systems of most developed economies. Yet the form of these financial systems varies widely. In the United States and the United Kingdom competitive markets dominate the financial landscape, whereas in France, Germany, and Japan banks have traditionally played the most important role. Why do different countries have such different financial systems? Is one system better than all the others? Do different systems merely represent alternative ways of satisfying similar needs? Is the current trend toward market-based systems desirable? Franklin Allen and Douglas Gale argue that the view that market-based systems are best is simplistic. A more nuanced approach is necessary. For example, financial markets may be bad for risk sharing; competition in banking may be inefficient; financial crises can be good as well as bad; and separation of ownership and control can be optimal. Financial institutions are not simply veils, disguising the allocation mechanism without affecting it, but are crucial to overcoming market imperfections. An optimal financial system relies on both financial markets and financial intermediaries.

Standard macroeconomic monographs often discuss the mechanism of monetary transmission, usually ending by highlighting the complexities and uncertainties involved in this mechanism. Conversely, The Preparation of Monetary Policy takes these uncertainties as a starting point, analytically investigating their nature and spelling out their consequences for the monetary policy maker. The second innovative aspect of this book is its focus on policy preparation instead of well-covered topics such as monetary policy strategy, tactics, and implementation. Thirdly, a general, multi-model framework for preparing monetary policy is proposed, which is illustrated by case studies stressing the role of international economic linkages and of expectations. Written in a self-contained fashion, these case studies are of interest by themselves. The book is written for an audience that is interested in the art and science of monetary policy making, which includes central bankers, academics, and (graduate) students in the field of monetary economics, macroeconomics, international economics and finance.

In today’s hypercompetitive global marketplace, a company’s pricing policy can make or break the bottom line. Now the world’s two leading price experts Robert J. Dolan and Hermann Simon take managers beyond conventional thinking to show how their breakthrough system of “power pricing” will improve the bottom line by an order of magnitude. They destroy popular but not necessarily financially savvy ideas on pricing, such as relying on a standard markup on cost rule. They expose as passive the “strategy” of letting the market or a competitor “set the price.” But the key is in what they provide: the tools by which the pedestrian pricer can become a “power pricer” who achieves quantum leaps in financial performance by aggressively implementing sophisticated pricing strategies. Market segmentation, promotional pricing, competitive strategic pricing, international pricing, nonlinear pricing, interrelated product line pricing, and time-customized pricing are just a few of the crucial concepts which the authors explore and explain when and how to implement. The authors’ approach to creating “power pricers” is twofold. They specify the practices of the strategic pricers among the world’s most successful firms and then lay out a four-dimensional system to attain this level of pricing sophistication and resulting profit improvement. Power Pricing is a highly detailed yet practically focused book which will become required reading for business leaders; general managers; marketing, product, and brand managers; accountants, financial managers, and marketing students, world-wide.

В современных условиях гиперконкуренции ценовая политика компании может приводить как к получению значительных прибылей, так и к серьезным убыткам. Главная особенность представленной книги заключается в том, что авторы приводят инструменты – методы агрессивного использования различных ценовых стратегий (конкурентное стратегическое ценообразование, международное ценообразование, нелинейное ценообразование и т.д.), которые позволят компаниям достичь выдающихся финансовых результатов. Книга будет полезна как студентам, изучающим маркетинг и ценообразование, так и практикам – от финансовых менеджеров до генеральных директоров компаний.

См. также: Переводное издание книги.

Fully updated, the second edition of the Encyclopedia of Finance presents new contributions to reflect the emergence of behavioral finance (loss aversion, the housemoney effect, and momentum, for example), advances in asset pricing and methods in finance such as the role of Threshold Autoregressive and Markov Switching models.
Provides clear, concise, up to the minute and highly informative definitions and explanations of the key concepts covering the whole of the fast changing field of contemporary finance Includes new entries that reflect developments and growth in areas such as behavioral finance, asset pricing, and the emergence of nonlinear econometric models; Brings together entries from an international team of more than 90 of the world's best known and respected finance scholars and teachers.

This book is both a reference book on Germany's financial system and a contribution to the economic debate about its status at the beginning of the twenty-first century. In giving a comprehensive account of the many facets of the system, it covers corporate governance, relationship lending, stock market development, investor protection, the venture capital industry, and the accounting system, and reports on monetary transmission and the credit channel, regulation and banking competition, the insurance and investment industry, and mergers and acquisitions. Special chapters at the beginning and at the end of the book adopt the financial system perspective, analysing the mutual fit of different features of the financial system; and each of the fifteen chapters addresses particular myths that surround it. The book is invaluable for those who want to understand the German economy and its financial system, promising not only a compilation of facts and statistics on Germany's financial markets and institutions, but also an analysis of its current structure and the determinants of its future development.

For over half a century, financial experts have regarded the movements of markets as a random walk--unpredictable meanderings akin to a drunkard's unsteady gait--and this hypothesis has become a cornerstone of modern financial economics and many investment strategies. Here Andrew W. Lo and A. Craig MacKinlay put the Random Walk Hypothesis to the test. In this volume, which elegantly integrates their most important articles, Lo and MacKinlay find that markets are not completely random after all, and that predictable components do exist in recent stock and bond returns. Their book provides a state-of-the-art account of the techniques for detecting predictabilities and evaluating their statistical and economic significance, and offers a tantalizing glimpse into the financial technologies of the future.

The articles track the exciting course of Lo and MacKinlay's research on the predictability of stock prices from their early work on rejecting random walks in short-horizon returns to their analysis of long-term memory in stock market prices. A particular highlight is their now-famous inquiry into the pitfalls of "data-snooping biases" that have arisen from the widespread use of the same historical databases for discovering anomalies and developing seemingly profitable investment strategies. This book invites scholars to reconsider the Random Walk Hypothesis, and, by carefully documenting the presence of predictable components in the stock market, also directs investment professionals toward superior long-term investment returns through disciplined active investment management.