The module begins with a brief review of asset pricing and market efficiency. The unifying organising asset pricing principle that is used is the stochastic discount factor model. This provides an arbitrage-free theory of asset prices. The lectures are mainly concerned with the application of this concept, and with the empirical evidence on the related concept of market efficiency. If assets are priced correctly then financial markets are behaving efficiently, and if they are mis-priced then financial markets are not efficient and opportunities may exist for profitable arbitrage.
{"title":"Financial markets","authors":"Sandeep Goel","doi":"10.4324/9781351185998-9","DOIUrl":"https://doi.org/10.4324/9781351185998-9","url":null,"abstract":"The module begins with a brief review of asset pricing and market efficiency. The unifying organising asset pricing principle that is used is the stochastic discount factor model. This provides an arbitrage-free theory of asset prices. The lectures are mainly concerned with the application of this concept, and with the empirical evidence on the related concept of market efficiency. If assets are priced correctly then financial markets are behaving efficiently, and if they are mis-priced then financial markets are not efficient and opportunities may exist for profitable arbitrage.","PeriodicalId":408748,"journal":{"name":"Finance for Non-Finance People","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125280780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-06DOI: 10.4324/9780429196669-19
S. Goel
{"title":"Working capital management","authors":"S. Goel","doi":"10.4324/9780429196669-19","DOIUrl":"https://doi.org/10.4324/9780429196669-19","url":null,"abstract":"","PeriodicalId":408748,"journal":{"name":"Finance for Non-Finance People","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130405444","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-03-06DOI: 10.4324/9780429196669-24
S. Goel
In light of the increasing number of corporate frauds worldwide, there is a growing emphasis on corporate governance. These corporate misappropriations not only destroy shareholder value but also act as a detriment to economic growth and social change. Therefore, investors look for companies with better corporate governance to maximize their returns. Still, this aspect of corporate governance has been largely neglected in the existing studies. This chapter is therefore an attempt to address corporate governance and its effect on business performance in the context of economic growth and social transformation at the global level. It goes inside the black box of the financial matrix. The central issue that emerges is the criticality of key parameters in the corporate governance process for organisational performance. It is hoped that it will provide a new dimension to the existing body of corporate governance for global development with policy implications for the required growth and social change.
{"title":"Corporate governance","authors":"S. Goel","doi":"10.4324/9780429196669-24","DOIUrl":"https://doi.org/10.4324/9780429196669-24","url":null,"abstract":"In light of the increasing number of corporate frauds worldwide, there is a growing emphasis on corporate governance. These corporate misappropriations not only destroy shareholder value but also act as a detriment to economic growth and social change. Therefore, investors look for companies with better corporate governance to maximize their returns. Still, this aspect of corporate governance has been largely neglected in the existing studies. This chapter is therefore an attempt to address corporate governance and its effect on business performance in the context of economic growth and social transformation at the global level. It goes inside the black box of the financial matrix. The central issue that emerges is the criticality of key parameters in the corporate governance process for organisational performance. It is hoped that it will provide a new dimension to the existing body of corporate governance for global development with policy implications for the required growth and social change.","PeriodicalId":408748,"journal":{"name":"Finance for Non-Finance People","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131055733","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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