understanding capital – marxs economic theory



Frank Fabozzi J. Capital Budgeting. Theory and Practice Frank Fabozzi J. Capital Budgeting. Theory and Practice Новинка

Frank Fabozzi J. Capital Budgeting. Theory and Practice

Capital investment decisions are a constant challenge to all levels of financial managers. Capital Budgeting: Theory and Practice shows you how to confront them using state-of-the-art techniques. Broken down into four comprehensive sections, Capital Budgeting: Theory and Practice explores and illustrates all aspects of the capital budgeting decision process. Pamela Peterson and Frank Fabozzi examine the critical issues and limitations of capital budgeting techniques with an in-depth analysis of: Classifying capital budgeting proposals Determining the relevant cash flows for capital budgeting proposals Assessing the economic value of a capital budgeting proposal using different techniques Incorporating risk into the capital budgeting decision Evaluating whether to lease or borrow-to-buy Capital Budgeting: Theory and Practice provides the knowledge, insight, and advice that will allow you to handle one of the most important aspects of your firm's financial management. Advanced enough for practitioners yet accessible enough for the novice, Capital Budgeting: Theory and Practice is your complete guide to understanding and benefiting from the essential techniques of capital budgeting.
Human Capital and Institutions: A Long-Run View Human Capital and Institutions: A Long-Run View Новинка

Human Capital and Institutions: A Long-Run View

Human Capital and Institutions brings to fore the role of political, social, and economic institutions in human capital formation and economic growth. Written by leading economic historians, including pioneers in historical research on human capital, the chapters in this text offer a broad-based view of human capital in economic development. Just as human capital has been a key to economic growth, so has the emergence of appropriate institutions been a key to the growth of human capital.
The Development Economics Planning The Development Economics Planning Новинка

The Development Economics Planning

This book is written for new theoretical prospective of reference book for any reader such as students and professionals and strategists. In this book we introduced some new theory of economic development with addition of various interested and important cases for understanding the purpose of the designed theory. For further depth of economic development knowledge really matters of modern era of economy. This Book is refers for economic specialist, Economic Planner and those who newly taking a part of developing economic measures.
Noureddine Krichene Islamic Capital Markets. Theory and Practice Noureddine Krichene Islamic Capital Markets. Theory and Practice Новинка

Noureddine Krichene Islamic Capital Markets. Theory and Practice

12108.91 руб. Найти похожее
A comprehensive look at the essentials of Islamic capital markets Bringing together theoretical and practical aspects of capital markets, Islamic Capital Markets offers readers a comprehensive insight into the institutions, instruments, and regulatory framework that comprise Islamic capital markets. Also exploring ideas about money, central banking, and economic growth theory and their role in Islamic capital markets, the book provides students and practitioners with essential information about the analytical tools of Islamic capital markets, serves as a guide to investing in Islamic assets, and examines risk management and the structure of Islamic financial products. Author and Islamic finance expert Noureddine Krichene examines the development of leading Islamic capital markets, including Malaysia, looking at sukuks and stocks in detail and emphasizing valuation, duration, convexity, immunization, yield curves, forward rates, swaps, and risks. Analyzing stock markets, stock valuation, price-earnings ratio, market efficiency hypothesis, and equity premiums, the book addresses uncertainty in capital markets, portfolio diversification theory, risk-return trade-off, pricing of assets, cost of capital, derivatives and their role in hedging and speculation, the principle of arbitrage and replication, Islamic structured products, the financing of large projects, and more. Emphasizes both theoretical and practical aspects of capital markets, covering analytical concepts such as the theory of arbitrage, pricing of assets, capital market pricing model, Arrow-Debreu state prices, risk-neutral pricing, derivatives markets, hedging and risk management, and structured products Provides students and practitioners of finance with must-have information about the analytical tools employed in Islamic capital markets Examines all the most recent developments in major Islamic capital markets, including Malaysia Discussing the advantages of Islamic capital markets and the prospects for their development, Islamic Capital Markets gives readers a fundamental grounding in the subject, with an emphasis on financial theory and real world practice.
Quantifying Economic Risk for Modern Oil and Gas Exploration Projects Quantifying Economic Risk for Modern Oil and Gas Exploration Projects Новинка

Quantifying Economic Risk for Modern Oil and Gas Exploration Projects

Oil and gas are essential energy resources and have become more precious with the economic rise of China, India and Brazil. While consumption has risen tremendously, satisfying this demand has become more challenging and complex. With rising complexity and capital investment, quantifying the economic risk in developing existing and new fields has become paramount for raising shareholder value, and optimize resource allocation. The book provides an outline of the theory behind quantifying economic uncertainty for oil and gas projects, utility theory in the context of oil and gas projects and the increasingly important aspect of hedging against negative field development outcomes. Taking this into account, a novel optimization framework using option theory is introduced to improve project selection and enable practitioners to determine the optimal projects and their working interests for maximizing economic return.
Risk Management and Capital Measurement in Commercial Banks Risk Management and Capital Measurement in Commercial Banks Новинка

Risk Management and Capital Measurement in Commercial Banks

Capital adequacy requirements are the rules that help bank supervisors determine whether banks hold sufficient capital at all times to meet unexpected losses. The banking industry had moved ahead with its risk assessment technique, economic capital models and risk based pricing. The turmoil in banking industry has provided an opportunity to examine the robustness of risk assessment techniques and economic capital models.This book provides a good understanding of the reasons behind bank failures, risk assessment techniques, economic capital models and risk based pricing that reduce the risk of future failures. The importance of risk management of commercial banks in terms of capital measurement has been emphasized throughout.The prime objective of the book is the measurement of capital of the unexpected loss for risk management of the commercial banks in order to prevent insolvency. It provides technique to quantify capital for holding on economic basis.
Agriculture & Economic Growth – Theory & Measurement Agriculture & Economic Growth – Theory & Measurement Новинка

Agriculture & Economic Growth – Theory & Measurement

Agriculture & Economic Growth – Theory & Measurement
Understanding Music Theory Pd6/08/01 Understanding Music Theory Pd6/08/01 Новинка

Understanding Music Theory Pd6/08/01

Understanding Music Theory Pd6/08/01
Capital Utilization: A Theoretical and Empirical Analysis Capital Utilization: A Theoretical and Empirical Analysis Новинка

Capital Utilization: A Theoretical and Empirical Analysis

This book presents the theory of capital utilization, a discussion of the econometrics of capital utilization, and econometric tests of the theory using international data. Capital utilization, defined as the proportion of time that capital is working productively, is mainly affected by shift-working.
A Theory of Adaptive Economic Behavior A Theory of Adaptive Economic Behavior Новинка

A Theory of Adaptive Economic Behavior

This book develops dynamic economic models using the perspective and analytic framework provided by psychological learning theory. This framework is used to resolve apparent contradictions between optimization theory, which lies at the heart of all modern economic theory, and day-to-day evidence that short-run economic behaviour cannot reasonably be described solely as the outcome of efficiently implemented self-interest.
Capital Inflow and Economic Growth in Nigeria Capital Inflow and Economic Growth in Nigeria Новинка

Capital Inflow and Economic Growth in Nigeria

Capital Inflow and Economic Growth in Nigeria attempts to examine the sources of Inflow, the types, distribution of inflow and the role of this inflow in economic growth of Nigeria. Nigeria is one of the sub-saharan countries in Africa that adopts foreign policy which embraces Capital Inflow in line with the opinion of the neo classical economists. The position of the economists holds true in Nigeria. Foreign capital contributes positively to economic growth.
Human Capital: Advances in Theory and Evidence Human Capital: Advances in Theory and Evidence Новинка

Human Capital: Advances in Theory and Evidence

This book provides an interface between research in human capital theory and its potential applications in government, education and business. New findings are presented in a non-technical way on three major themes: measuring the benefits from human capital, applications of the human capital model, and policy interventions.
Understanding the Practice of Local Economic Development Understanding the Practice of Local Economic Development Новинка

Understanding the Practice of Local Economic Development

This book develops an alternative theoretical framework for understanding the practice of local economic development. The author demonstrates that a conventional/positivistic social science approach has not developed an appropriate theory for economic development and that a constructionalist/poststructuralist approach provides a better understanding of the local economic development process. The framework commenced with the Deleuzian poststructuralist concept of the rhizome. The rhizome and other concepts such as assemblages, flows, plateaus, lines of flight, reterritorialisation and nomads are developed as methodological tools to describe the emergence and sometimes the later disappearance (like mushrooms popping up on the landscape) of economic activities and new facilities. The core meta-theory developed in this book was tested and assessed against the Auckland Regional Economic Development Strategy (AREDS) because the strategy exemplifies and demonstrates a poor correlation between strategy and real world economic activity. The AREDS experience was examined through a Deleuzian lens by conceptualising the process as a rhizomatic econphilosophy of economic development.
Capital Structure during the crisis of 2007-2009 Capital Structure during the crisis of 2007-2009 Новинка

Capital Structure during the crisis of 2007-2009

This thesis aims to explain the choice of capital structure in the times of crisis (2007-2009) for the U.S.A. real sector companies. The two main theories used are the trade-off theory and pecking order theory. The essential of the pecking order theory is that manager''s capital structure decisions are influenced by the market perceptions of managers'' superior information. The trade-off theory provides support for manager''s trade off between benefits and costs of debt. The conventional model is also used in the analysis in order to increase the robustness of the results. We find that the dynamic partial-adjustment model of the trade-off theory seems to explain better the choice of capital structure in the analyzed period than pecking order theory
Financial Integration and Economic Growth Financial Integration and Economic Growth Новинка

Financial Integration and Economic Growth

Financial globalisation has increased substantially in recent years. It manifests itself in growing capital flows between developed countries and spread to emerging countries. Thus, gross and net capital flows have increased between the developed and emerging countries (BIS, 2005). The study intends to explore the direction of this capital flows, and find out if the capital actually flows from the developed economies to emerging economies or vice versa, as predicted by theory. The research will focus on establishing the type of relationship that exists between financial integration and economic growth and development. We have fought to establish a beachhead of rigour about evidence, evaluation, complexity in a global financial market.
Educational Reforms and their Impact on Human CapitalGrowth Educational Reforms and their Impact on Human CapitalGrowth Новинка

Educational Reforms and their Impact on Human CapitalGrowth

The transition of modern economy to the economy basedon knowledge and information makes human capital oneof the main components for economic welfare. As onecan understand the increase of human capitalimportance makes vocational and tertiary educationmore and more significant. Many European countriescarried out a number of reforms in their educationsystems and implemented the statements of Bolognadeclaration. This book, therefore, considers howeducational reforms and some other economic andsocial factors can influence human capital. It hastwo parts: a theoretical and an analytical one. Inthe theoretical part importance of human capitalinvestment, human capital theory and educationalreforms in Spain and Estonia are described. Theanalytical part presents the analysis of differentfactors that could influence human capital in thesecountries. This book can be useful for those whostudy or research education (policy, planning) andsocial economy as well as for anyone who may beinterested in it.
Human capital reproduction in innovation economy Human capital reproduction in innovation economy Новинка

Human capital reproduction in innovation economy

The book discusses the conceptual basis of reproduction of human capital in the innovation economy. The authors prove that the quality of human capital characteristics do not depend much on the value of investments made in its reproduction, but on the content of the institutional framework within which the reproduction of it. The book is intended for researchers, teachers, graduate students, as well as for the general reader interested in the problems of economic theory.
Theories of Capital Structure Theories of Capital Structure Новинка

Theories of Capital Structure

One of the challenges facing investors is how to choose and adjust their strategic financing mix, forming an optimal capital structure.Most of Tanzanian companies operate under unsatisfactory profit, heavy burden of debts, accrued dividends and other liabilities often fail and cease to operate because of bankruptcy, this is caused by their poor capital structure decisions.This book provided the evidence on the validity of the three theories on capital structures, the static trade-off theory, the pecking order theory (information asymmetry theory), and agency cost theory in the Tanzanian context and lays down key determinants of capital structure decisions.The book enlightens the micro-factors to be considered to prefer debt to equity or equity to debt or both financing strategies.
Economic Growth in Nigeria: Economic Growth in Nigeria: Новинка

Economic Growth in Nigeria:

Using a macroeconomic approach, this work examined the role of foreign private investment (FPI) and capital formation in the economic growth of Nigeria.In order to achieve our objectives, we estimated the model of capital formation and economic growth for Nigeria. We found, that foreign private investment has a negative impact on capital formation in Nigeria. We also found that both foreign private investment and capital formation, in addition to other factors, significantly determine economic growth in Nigeria.Again we found that the long run impact of capital formation and foreign private investment on economic growth is larger than their short run impact. There is thus a long run equilibrium relationship among the variables as the error correction term is significant, but the speed of adjustment is small in both models. We estimated two stage least squares counterpart of the models in order to check for endogeneity bias.Our findings therefore have some policy implications: First, policies that enhance capital formation and FPI inflow do increase economic growth. Second, banking systems credit to domestic economy enhances capital formation and economic growth.
Donald Jones W. Economic Theory and the Ancient Mediterranean Donald Jones W. Economic Theory and the Ancient Mediterranean Новинка

Donald Jones W. Economic Theory and the Ancient Mediterranean

13262.14 руб. Найти похожее
Economic Theory and the Ancient Mediterranean presents a comprehensive introduction to the application of contemporary economic theory to the ancient societies of the Mediterranean Sea from the period of 5000 BCE to 400 CE. Offers an accessible presentation of modern economic theory and its relationships to ancient societies Presents innovative expositions and applications of economic theory to issues in antiquity not often found in the literature Features insightful discussions of the relevance of contemporary economic models to various situations in antiquity Written for a broad range of scholars of ancient Mediterranean regions, including archaeologists, ancient historians, and philologists
Introduction to Econometrics Introduction to Econometrics Новинка

Introduction to Econometrics

Combining the rigour of econometric theory with an accessible style, Dougherty's step by step explanations and relevant practical exercises ensure students develop an intuitive understanding of econometrics, and gain hands-on experience of the tools used in economic and financial forecasting.
The Theory of Economic Policy: Statics and Dynamics The Theory of Economic Policy: Statics and Dynamics Новинка

The Theory of Economic Policy: Statics and Dynamics

This book provides a unified analysis of the theory of economic policy, presenting static and dynamic aspects of both the fixed and flexible objective policy problems. The authors conceive of the abstract theory of economic policy as the interaction of policy possibilities with policy-making requirements.
Frans Weert de Bank and Insurance Capital Management Frans Weert de Bank and Insurance Capital Management Новинка

Frans Weert de Bank and Insurance Capital Management

In the aftermath of the financial crisis, capital management has become a critical factor in value creation for banks and other financial institutions. Although complex and subject to regulatory change, the strategic importance of capital management became apparent during the crisis and has moved the subject to the top of corporate agendas. Bank and Insurance Capital Management is an essential guide to help banks and insurance companies understand and manage their capital position. Bridging the gap between theory and practice, it provides proven techniques for managing bank capital, as well as explaining key capital management perspectives, including accounting, regulatory, risk and capital management and corporate finance. It also shows how to analyze a firm's stakeholders such as depositors, policy holders, debt holders and shareholders, and manage their expectations, and how to align risk and capital management so as to best optimize the return on capital and preserve capital in periods of stress. Economic capital is also discussed in depth, as are the practicalities of bank and insurance M&A, and the book also shows how financial innovations can be used to optimise the capital position and how diversification effects are reflected in the capital position. This book will arm readers with the knowledge and skills needed to understand how capital management can improve capital structure and performance, achieving an optimal cost of, and return on capital, creating value as a result.
Health Capital, Labour Productivity And Growth Health Capital, Labour Productivity And Growth Новинка

Health Capital, Labour Productivity And Growth

The book, “Health Capital, Labour Productivity and Growth: A Disaggregated Empirical Evidence for Nigeria” provides a new dimension to the study of economic growth by disaggregating the causal impact of health capital investment on labour productivity and GDP growth in Nigeria. Indeed, the book makes provision for health capital variables in the explanation of modern growth as against other texts that have focused mainly on macro variables. The book is both a text for undergraduate and postgraduate students of health and growth economics and also a reference for class instructors and researchers. The book is organized into six chapters as follows. Chapter one provides the background. Chapter two examines the profile of Nigeria’s health investment expenditure, labour productivity and economic growth. Chapter three focuses on health capital implications for labour productivity and economic growth. In chapter four, the theory and model of health capital productivity and growth are discussed. Analyses are in chapter five. Chapter six concludes the book with policy issues.
Capital in the Twenty-First Century Capital in the Twenty-First Century Новинка

Capital in the Twenty-First Century

What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In Capital in the Twenty-First Century, "Thomas Piketty analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings will transform debate and set the agenda for the next generation of thought about wealth and inequality. Piketty shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, Piketty says, and may do so again. A work of extraordinary ambition, originality, and rigor, Capital in the Twenty-First Century "reorients our understanding of economic history and confronts us with sobering lessons for today.
Austrian Business Cycle Theory and Housing Bubble Austrian Business Cycle Theory and Housing Bubble Новинка

Austrian Business Cycle Theory and Housing Bubble

Business cycle that appeared in the US between 2002 and 2009 caused serious economic turmoil which affects the economic development until today. This paper examines the ability of Austrian business cycle theory to explain the cycle. The theory claims that disequilibrium on market for loanable funds appears after monetary expansion. As a result, interest rate does not correspond to individuals’ preferences, which induces distortion in relative prices, capital misallocation, and unsuitable structure of production. The inevitable market correction then incurs economic recession. First, the paper describes the methodological origins of the theory and then summarizes its main principles. The description of the US economy during the examined period follows. At the end, the theory is confronted with reality. Although there are some minor differences between predictions of the theory and the actual development of the US economy, it can be concluded that Austrian business cycle theory can help us explain the recent business cycle.
Juan Ramirez Handbook of Basel III Capital. Enhancing Bank Capital in Practice Juan Ramirez Handbook of Basel III Capital. Enhancing Bank Capital in Practice Новинка

Juan Ramirez Handbook of Basel III Capital. Enhancing Bank Capital in Practice

A deeper examination of Basel III for more effective capital enhancement The Handbook of Basel III Capital – Enhancing Bank Capital in Practice delves deep into the principles underpinning the capital dimension of Basel III to provide a more advanced understanding of real-world implementation. Going beyond the simple overview or model, this book merges theory with practice to help practitioners work more effectively within the regulatory framework, and utilise the complex rules to more effectively allocate and enhance capital. A European perspective covers the CRD IV directive and associated guidance, but practitioners across all jurisdictions will find value in the strategic approach to decisions surrounding business lines and assets; an emphasis on analysis urges banks to shed unattractive positions and channel capital toward opportunities that actually fit their risk and return profile. Real-world cases demonstrate successful capital initiatives as models for implementation, and in-depth guidance on Basel III rules equips practitioners to more effectively utilise this complex regulatory treatment. The specifics of Basel III implementation vary, but the underlying principles are effective around the world. This book expands upon existing guidance to provide a deeper working knowledge of Basel III utility, and the insight to use it effectively. Improve asset quality and risk and return profiles Adopt a strategic approach to capital allocation Compare Basel III implementation varies across jurisdictions Examine successful capital enhancement initiatives from around the world There is a popular misconception about Basel III being extremely conservative and a deterrent to investors seeking attractive returns. In reality, Basel III presents both the opportunity and a framework for banks to improve their assets and enhance overall capital – the key factor is a true, comprehensive understanding of the regulatory mechanisms. The Handbook of Basel III Capital – Enhancing Bank Capital in Practice provides advanced guidance for advanced practitioners, and real-world implementation insight.
Putting Economics Theory into Practice Putting Economics Theory into Practice Новинка

Putting Economics Theory into Practice

Economic theories are always interesting, as they explain basically how the human-being society works. But theories could be nothing without application. In this book, the author provides two directions of applying economic theory into practice. One is economic forecasting, in which different models, including the time series models and term structure models, are evaluated for forecasting of Hong Kong inflation rate. The other is empirical study, where the economic theory about stock pricing are tested against real-world datas.
Theories of Value and Distribution Since Adam Smith; Ideology and Economic Theory, Theories of Value and Distribution Since Adam Smith; Ideology and Economic Theory, Новинка

Theories of Value and Distribution Since Adam Smith; Ideology and Economic Theory,

Mr Dobb examines the history of economic thought in the light of the modern controversy over capital theory and, more particularly, the appearance of Sraffa's book The Production of Commodities by Means of Commodities, which was a watershed in the critical discussions constituted a crucial turning-point in the history of economics: an estimate not unconnected with his reinterpretation of nineteenth-century economic thought as consisting of two streams or traditions commonly confused under the generic title of 'the classical tradition' against which Jevons so strongly reacted.
Economic Transplants Economic Transplants Новинка

Economic Transplants

Why and in what ways have lawyers been importing economic theories into a legal environment, and how has this shaped scholarly research, judicial and legislative work? Since the financial crisis, corporate or capital markets law has been the focus of attention by academia and media. Formal modelling has been used to describe how capital markets work and, later, been criticised for its abstract assumptions. Empirical legal studies and regulatory impact assessments offered different ways forward. This book presents a new approach to the risks and benefits of interdisciplinary policy work. The benefits economic theory brings for reliable and tested lawmaking are contrasted with important challenges including the significant differences of research methodology, leading to misunderstandings and problems of efficient implementation of economic theory's findings into the legal world. Katja Langenbucher's innovative research scrutinises the potential of economic theory to European legislators faced with a lack of democratic accountability.
The Management of Operational Value at Risk in Banks The Management of Operational Value at Risk in Banks Новинка

The Management of Operational Value at Risk in Banks

The management of operational value-at-risk (OpVaR) in financial institutions is pre-sented by means of a novel, robust calculation technique and the influence of this value on the capital held by a bank for operational risk. A clear distinction between economic and regulatory capital is made as well as the way OpVaR models may be used to calculate both types of capital. Under the Basel II Advanced Measurement Approach (AMA) banks may employ OpVaR models to calculate regulatory capital; this study therefore illustrates the differences in regulatory capital when using the AMA and the Standardised Approach (SA) by means of an example. Economic capital is found to converge to regulatory capital using the AMA, but not if the SA is used.
Economic Growth: A Unified Approach Economic Growth: A Unified Approach Новинка

Economic Growth: A Unified Approach

How can society improve its living standards? What are the conditions necessary for prosperity? These are the questions that define the essence of growth theory. In this user-friendly book, Olivier de la Grandville provides a fascinating introduction to the theory of economic growth.
Essays in Honor of Kenneth J. Arrow: Volume 1, Social Choice and Public Decision Making Essays in Honor of Kenneth J. Arrow: Volume 1, Social Choice and Public Decision Making Новинка

Essays in Honor of Kenneth J. Arrow: Volume 1, Social Choice and Public Decision Making

Professor Kenneth J. Arrow is one of the most distinguished economic theorists. He has played a major role in shaping the present state of the subject and is honoured by the publication of three volumes of essays on economic theory. Each volume deals with a different area of economic theory.
The Logic of Bureaucratic Conduct: An Economic Analysis of Competition, Exchange, and Efficiency in Private and Public Organizations The Logic of Bureaucratic Conduct: An Economic Analysis of Competition, Exchange, and Efficiency in Private and Public Organizations Новинка

The Logic of Bureaucratic Conduct: An Economic Analysis of Competition, Exchange, and Efficiency in Private and Public Organizations

In this work the authors present a general theory of bureaucracy and use it to explain behaviour in large organizations and to explain what determines efficiency in both governments and business corporations. The theory uses the methods of standard neoclassical economic theory.
The linkage between Human capital development and economic growth The linkage between Human capital development and economic growth Новинка

The linkage between Human capital development and economic growth

Human capital is a necessary condition for economic growth. While in the past, much effort focused on expanding access, we now understand that human capital is much more than educational attainment .Skills acquisition and the capacity to continue learning throughout the lifecycle are needed to develop individuals and to foster the rise in productivity needed for economic growth. The main objective of this study is to analyse the extent to which education level of a county’s labour force affects its economic growth that is output level.A Cobb-Douglas production function with constant returns to scale is used where Human capital is treated as an independent factor of production in the human capital augmented growth model.We further employ an error correction model which combines long-run information with a short-run adjustment mechanism in order to remove biased coefficient estimates.The main results shows that higher levels of human capital directly influence productivity via its impact on domestic innovation. Secondly, higher levels of human capital cause improvements in total factor productivity by facilitating the adoption and implementation of foreign technology.
Determinants of Capital Structure Determinants of Capital Structure Новинка

Determinants of Capital Structure

Capital Structure refers to the combination of debt and equity utilized in a business. There are different advantages and disadvantages of using both sources of finance, but basically,this combination is determined by different variables most important are size, profitability. Non Debt Tax Shield, tangibility,earning volatility and growth of an organization. This work is based on the data from Karachi Stock Exchange. Tangibility variable was found to be highly significant, which favors the Trade off theory. Size variable does not favor the Trade Off Theory. Profitability fails to confirm Pecking order Theory and Trade Off Theory. Growth variable does not confirm to the Agency Cost Theory and Earning volatility does not support Bankruptcy Cost Theory and Agency Cost Theory.
Investment Expenditure and Economic Growth in Nigeria Investment Expenditure and Economic Growth in Nigeria Новинка

Investment Expenditure and Economic Growth in Nigeria

This study examines investment expenditure and economic growth in Nigeria from 1978-2009. Simple regression model, based on ordinary least square (OLS) technique was employed in analyzing each aspect of investment expenditure, using annual time series data. The empirical findings indicate that capital expenditure on education, health, transport and communication are indispensable in achieving economic growth in Nigeria and that an increase in government spending in any of the aspects will bring about increase in economic growth. The results further suggest that economic growth granger causes both capital expenditure on education and health, but not the other way round. No causality was found between economic growth and capital expenditure on transport, while economic growth and capital expenditure on communication have a bi-directional causality. The result also indicates that government spending on social infrastructure contributes more to economic growth than spending on physical infrastructure in Nigeria
Robert Schwartz A. Micro Markets. A Market Structure Approach to Microeconomic Analysis Robert Schwartz A. Micro Markets. A Market Structure Approach to Microeconomic Analysis Новинка

Robert Schwartz A. Micro Markets. A Market Structure Approach to Microeconomic Analysis

A timely guide that bridges the gap between microeconomic theory and practice through real-world application in the marketplace Understanding how microeconomics affects the marketplace is essential for any investment professional, however most books simply address microeconomics in its pure theory-based form. Micro Markets helps bridge the gap between theory and practice by defining microeconomics in terms of real-world, market applications. This timely guide elucidates basic microeconomic concepts with an emphasis on applicability. It establishes a common application for all of the basic economic concepts that are reviewed, and provides in-depth insights into an industry that is of major economic importance in aggregate, and to most individuals. Utilizes equity market realities to underscore the relevance of economic theory Each chapter includes informative practice problems and power points A companion Workbook, with practice problems and solutions, is also available By taking microeconomic theory and making it applicable to today's marketplace, Micro Markets builds a much-needed bridge between theory and practice.
Economic Analysis, Moral Philosophy, and Public Policy Economic Analysis, Moral Philosophy, and Public Policy Новинка

Economic Analysis, Moral Philosophy, and Public Policy

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions.
The Nigerian Capital Market and Economic Development in Nigeria The Nigerian Capital Market and Economic Development in Nigeria Новинка

The Nigerian Capital Market and Economic Development in Nigeria

This work sets out to examine the relationship between the Nigerian Capital Market and economic development of Nigeria from 1987 to 2006. Thus, the performance of the Nigerian Capital Market indicators as they affect the GDP growth rate and human development index in Nigeria was examined. Multiple linear regression model was adopted as the method of analysis. The evaluation technique includes t-statistics, R squared, adjusted R squared, Durbin Watson test, standard error test and the f-statistics. The specific findings of this study show that there is no significant relationship between the capital market indicators and economic development in Nigeria during the period 1987 to 2006. There is a positive but insignificant relationship among the Nigerian Stock Exchange market capitalization, turnover ratio and economic development, while the relationship between the Nigerian Stock Exchange number of listed securities and economic development is negative and insignificant. Therefore, the Nigerian capital Market has fallen short of expectation vis-a-vis its role in fostering investment for economic growth and development.
Economic Analysis, Moral Philosophy, and Public Policy Economic Analysis, Moral Philosophy, and Public Policy Новинка

Economic Analysis, Moral Philosophy, and Public Policy

This book shows through argument and numerous policy-related examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores the idea of rationality and its connections to ethics, arguing that when they defend their formal model of rationality, most economists implicitly espouse contestable moral principles. Part II addresses the nature and measurement of welfare, utilitarianism and cost-benefit analysis. Part III discusses freedom, rights, equality, and justice - moral notions that are relevant to evaluating policies, but which have played little if any role in conventional welfare economics. Finally, Part IV explores work in social choice theory and game theory that is relevant to moral decision making. Each chapter includes recommended reading and discussion questions.
Critical Essays on Piero Sraffa's Legacy in Economics Critical Essays on Piero Sraffa's Legacy in Economics Новинка

Critical Essays on Piero Sraffa's Legacy in Economics

This collection offers a critical assessment of the published works of Piero Sraffa, one of the leading economists of the 20th century, and their legacy for the economics profession. The topics covered explore Sraffa's interpretation of the classical economists; his theory of value and distribution; his critique of partial and general neoclassical equilibrium theory; his focus on the problem of capital; and his critique of Hayek's monetary overinvestment theory of the business cycle. Specific issues investigated include intertemporal general equilibrium theory and the capital problem; the probability of reswitching; Ricardo, Malthus, and the corn model; and the meaning and implication of the capital controversy. Among the contributors are many of the world's leading students of Sraffian economics.
Zamir Iqbal Introduction to Islamic Economics. Theory and Application Zamir Iqbal Introduction to Islamic Economics. Theory and Application Новинка

Zamir Iqbal Introduction to Islamic Economics. Theory and Application

Gain deeper insight into the principles and theory of Islamic economics Introduction to Islamic Economics: Theory and Application provides an overview of the organizing principles and fundamentals of an Islamic economy. With deep discussion of the characteristics, rationale, key institutions, objectives, and instruments at work, the book addresses the core economic principles underlying a system based on the foundational teachings of Islam, and examines the implications for economic policies. Social welfare, economic justice, market functionality, efficiency, and equity are explored from an Islamic perspective, and the role and instruments of fiscal and monetary policy in Islamic systems are used to illustrate contemporary applications. Universities around the globe are offering courses on Islamic economics and finance, but despite the industry's rapid growth, most research has been focused on the financial principles rather than underlying economic principles. The first book of its kind, Introduction to Islamic Economics brings all the key concepts together into one reference volume. By outlining the ways in which Islamic finance and Islamic economics interrelate, this book can help readers to: Develop an understanding of the Islamic economic system and its institutional scaffolding Differentiate between the major characteristics of the dominant conventional economy and one based on the fundamental sources of Islam Understand the conditions that must be met for a just, well-balanced, stable, and growing economy Clarify the role of State, public policy, and risk-sharing in the Islamic financial system The Islamic financial system is expanding quickly, and those looking to increase their relevance in a changing economic landscape must get up to speed. Introduction to Islamic Economics provides a comprehensive overview of underlying economic system offering a deeper understanding of the feature of the system. This book is an excellent complement to Introduction to Islamic Finance, 2E by Iqbal and Mirakhor.
Economic Theory Of Developing Economy Economic Theory Of Developing Economy Новинка

Economic Theory Of Developing Economy

Economic Theory of Developing Theory is the outcome of my research work done for ten years. Economic Development is the necessity of the day. This book contains theoretical issues of developing economy and practical evidence of developing economy. This book will be useful to the scholar who undertakes research in developing economy, researchers will find the theoretical base for doing further research work. This book will be useful to the under-graduate and post-graduate scholar.
Human capital as a determinant of socio-economic condition Human capital as a determinant of socio-economic condition Новинка

Human capital as a determinant of socio-economic condition

We can dare to say that human capital is today one of the most important driving forces of socio-economic condition in the modern world. Nowadays, the economy and the functioning of its operators must contend with a variety of challenges and problems. The most important may include advancing all the time globalization processes as well as migration, social and political tensions, increased competition, changing expectations of the population, or environmental degradation. To persevere in such a turbulent environment, the individual and the economy must show some kind of flexibility in relation to emerging threats and opportunities. That flexibility is determined, among others, by human capital. The aim of this publication is to highlight the essence of human capital as determinants of socio-economic development and improvement of its quality in the light of different approaches.
Impact of Human Capital on Economic Growth Impact of Human Capital on Economic Growth Новинка

Impact of Human Capital on Economic Growth

This book empirically examines the role of human capital in the economic growth of selected South Asian countries Pakistan, India and Bangladesh. The analysis is based on the time series data during 1986-2010 and a comparison has been made between three countries about their performance in growth of their economies. Health and Education are used as proxy for human capital. For this purpose, a three step methodology has been adopted. As first step unit root test is applied to test the stationarity of data. After that cointegration test and granger causality test is applied to test the causality between the variables. The results show that human capital is positively and significantly linked with economic growth of the countries under discussion.
Drivers of Economic Growth in Pakistan Drivers of Economic Growth in Pakistan Новинка

Drivers of Economic Growth in Pakistan

In developing countries, FDI is often seen as an important driver for economic growth. It effects the economic growth through transferring innovative technology, promoting domestic investment, enhancing human capital formations, reducing technology gap between local and foreign firms, boost domestic saving and promote financial system. This effect of FDI can only materialized if host countries have sufficient level of human capital, educations, strong financial system and greater level of absorptive capacity of innovative technologies. FDI in Pakistan now consider the major source of external capital to meet the obligations of economic resources. This book is very helpful for economists, students of macro economics, Politicians and all those persons who are interested in economics of Pakistan.
Contributory Pension, Savings,Capital Market and Economic Growth Contributory Pension, Savings,Capital Market and Economic Growth Новинка

Contributory Pension, Savings,Capital Market and Economic Growth

Given the sine-qua-non nature of savings to economic development, augmented with the pain in the squeeze of government budget to support its pensioners, both developed and developing economies have partially if not totally abandoned the Defined Benefit pension scheme for the Contributory Pension scheme; where pension finance can be accumulated by both the worker/employees (while in service), Their employer and the operating government. Thus creating an amassment of fund, which if "well invested", would facilitate capital markets and economic growth. However, what effect would it have on current private saving, since the scheme is a form of compulsory saving; does the contributory pension scheme reduce savings?... with flagging issues of pension fraud, and mismanagement, what effect does it have on the capital market and economic growth? This is what this book seeks to uncover.
Impact of Human & Social Capital on Economic Growth Impact of Human & Social Capital on Economic Growth Новинка

Impact of Human & Social Capital on Economic Growth

In an ever changing globalized world, the success of countries and individuals is linked to how they adapt to change, learn and share knowledge. It is somehow believed that the impact of human and social capital is far broader than whatever positive effects it may have on economic growth or productivity. Taking a broader perspective on human well-being, this study shows how human and social capital is mutually reinforcing and how their nexus contribute in realizing sustainable economic growth. The analysis follows a panel data model for twelve economically and socially developed countries of OECD (Europe) and four developing countries of SAARC (Asia) by using a time series data from 1995–2004. The results indicate both human and social capital are crucial determinants of economic growth and have positive impact on growth in both sets of countries. In particular human (education and health etc) and social (honesty and trust etc) variables have stronger impact on growth in OECD countries which implies developing SAARC countries have yet to cover a long distance to achieve their desirable goals of human and social capital to expect a sustainable impact on economic growth.
Price Dynamics in Equilibrium Models - The Search for Equilibrium and the Emergence of Endogenous Fluctuations Price Dynamics in Equilibrium Models - The Search for Equilibrium and the Emergence of Endogenous Fluctuations Новинка

Price Dynamics in Equilibrium Models - The Search for Equilibrium and the Emergence of Endogenous Fluctuations

A long-standing unsolved problem in economic theory is how economic equilibria are attained. Price Dynamics in Equilibrium Models: The Search for Equilibrium and the Emergence of Endogenous Fluctuations considers a number of adjustment processes in different economic models and investigates their dynamical behaviour. Two important themes arising in this context are "bounded rationality" and "nonlinear dynamics". Important sub-themes of the book are the following: how do boundedly rational agents interact with their environment and does this interaction in some sense lead to rational outcomes (which may or may not correspond to equilibria)? The second sub-theme deals with the consequences of the nonlinear dynamical nature of many adjustment processes. The results presented in this volume indicate that endogenous fluctuations are the rule rather than the exception in the search for equilibrium. The book uses the theory of nonlinear dynamics to analyze the dynamics of the different economic models. Due to the complexity of most of the models, an important role is played by computational methods. In particular, at regular instances the models are analyzed by numerical simulations and some computer-assisted proofs are provided. It also covers a wide range of dynamical models from economic theory. Most of these models merge the theory of nonlinear economic dynamics with the theory of bounded rationality. The book is written for anyone with an interest in economic theory in general and bounded rationality and endogenous fluctuations in particular. It is entirely self-contained and accessible to readers with only a limited knowledge of economic theory.
The Global Developmental State The Global Developmental State Новинка

The Global Developmental State

The current research attempts to identify the underlying causes of Korea’s economic development. It assumes that Korea's successful economic growth is attributed to the state's ability to supervise a triple non-alliance interaction between its bureaucrats, domestic capital, and foreign capital. Substantiating this proposition implies dual objectives. The first is at the theoretical level. The research seeks to consolidate the concept of the triple non-alliance (TNA) interaction. And the second is at the analytical level. It attempts to relate the TNA to Korea's economic performance.
PHILANTHROPIC VENTURE CAPITAL: AN EXPLORATORY COMPARATIVE STUDY PHILANTHROPIC VENTURE CAPITAL: AN EXPLORATORY COMPARATIVE STUDY Новинка

PHILANTHROPIC VENTURE CAPITAL: AN EXPLORATORY COMPARATIVE STUDY

This book is the first study on philanthropic venture capital, a financing form for social entrepreneurs that unites the principles characterizing traditional venture capital with social aims. The provision of capital and non- financial services to social enterprises are of key importance for the maximizations of social impact as both elements enable social enterprises to become sustainable. However, the value proposition of the venture capital and philanthropic venture capital are different; a key issue is understanding how the practices used in the former are applied by the latter. Grounded in asymmetric information and stewardship theory, I build on and contribute to previous work showing how adverse selection and moral hazard are able to describe the philanthropic venture capital investment model. Results indicate that philanthropic venture capital investments are characterized by adverse selection. On the contrary, moral hazard tends to be a marginal issue in the deal structuring and post-investment phased of the investment, with investors acting as stewards rather than principals.
Social Capital, Caste Dominance and Panchayat Performance Social Capital, Caste Dominance and Panchayat Performance Новинка

Social Capital, Caste Dominance and Panchayat Performance

It is quite settled in political discourses that democracy is the most ideal form of social contract and greater the decentralization the better. But there are degrees of democracies and what differentiates a successful democracy from a failed or a partially successful democracy remains a worthy question.The most recent claim towards understanding the varied trajectories of democracy comes from the theory of social capital which has been made popular by Robert Putnam''s work.This work is aimed at bringing new perspectives on the mainstream conception of theory of social capital by verifying it in a particular setup in Bundelkhand region of India. Panchayats being the grass-root democractic organization in India are very relevant for testing the social capital and democratic governance linkage. This Research work brings out the contextual difficulties in establishing the direct link between social capital and democratic performance.
Intermediate Microeconomics Intermediate Microeconomics Новинка

Intermediate Microeconomics

This innovative intermediate microeconomics textbook covers both standard theory and exciting topics and developments, such as behavioural economics and advanced game theory. The book's unique problem-solving approach encourages active learning, introducing the mathematical tools that underpin economic theory in an accessible, student-friendly way.
Exploring the Missing Links Exploring the Missing Links Новинка

Exploring the Missing Links

This book is the publication of a highly praised doctoral thesis exploring the role of social capital theory in Australian regional development policy and practice. The author provides a trenchant critique of the concept 'social capital' and the link between social capital and regional economic development which has been propagated in Australia and around the world. The author draws attention to the 'missing links' in social capital theory, exploring how the concept has mutated from its origins as a tool in a tightly theorised framework for the explanation of social structure and inequality, into a community development tool which many believe can be used to remedy such inequality. With reference to a case study of the local government area of the City of Playford in South Australia, the author argues that not only are current understandings of social capital unable to adequately address issues of class and structural inequality in Australian regional development, they may also be contributing to their exacerbation.
Government expenditure and economic growth in Zimbabwe Government expenditure and economic growth in Zimbabwe Новинка

Government expenditure and economic growth in Zimbabwe

Since 1980, the Zimbabwean economy has not performed well, characterised by averagely declining levels of growth and often recording negative economic growth in some years. Various explanations have been provided by different scholars including statism (Midgely, 1987; Gilman, 2006), excessive government spending (Fan and Rao, 2003), poor economic governance and a series of ‘wrong’ policy choices (Gilpin, 2008). The study focused on determining the resource allocation to the three sectors of the economy (safety and security, social and economic), as well as analysing the nature of the spending between operational and capital investment. The study found that declining capital investment, huge defence budget and transfer payments, were among factors that reduced the influence of government expenditure in driving economic growth in Zimbabwe. Key recommendations included budgetary reforms aimed at reducing large defence spending and size of the public sector, and direct limited fiscal resources towards the economic sector through capital investment, human capital development and knowledge processes as the imperatives for sustainable long-term growth.
Social Capital and Rural Economic Development in Western Kenya Social Capital and Rural Economic Development in Western Kenya Новинка

Social Capital and Rural Economic Development in Western Kenya

The book refines the definition of social capital, synthesising and improving on the hitherto existing definitions. Using the improved definition, it analyses the complex processes through which social capital is formed; and the various variables that influence its formation in a rural setting using rich primary data from Western Kenya. The book explains the role of unique variables (witchcraft beliefs and ethnicity) among other variables in determining the stock of household level social capital. Also explained in this book is the relationship between the stock of social capital (both household- and community-level) and a variety of household economic development outcomes. Having drawn the linkages, the book recommends measures that could enhance social capital formation, contrary to the popular belief that social capital cannot be formed through deliberate investment decisions. It concludes that such measures would have a positive impact on rural economic development as well. This book sheds light on new variables that may be of as great if not greater, significance in determining rural development in an African country than the traditional microeconomic development factors.
The Economics of National Identity and Patriotism The Economics of National Identity and Patriotism Новинка

The Economics of National Identity and Patriotism

New developments in behavioral economics and decision theory have consequences for economic policy and finance. The understanding of the behavior of individuals within a certain social, political or economic environment lies at the heart of these theories. Group identity may influence human behavior, and a better understanding of this mechanism is important for the design of economic incentives. Recent studies analyze the influence of national identity and patriotism on redistribution and taxation systems. Within this context, the author investigates two opposing theories which he attempts to incorporate into a framework based on common tax literature and migration theory. As a new element, he considers differences in economic development and productivity between countries as a further contribution to the existing work in a rather young field of study. The author argues that differences in productivity levels of economies should be taken into consideration when examining a potential relation between patriotism and tax burdens. In addition, he contributes to the explanation of a certain political phenomenon in Western Europe in the age of globalization.

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