Books

Market Liquidity: Theory, Evidence and Policy

Market Liquidity: Theory, Evidence and Policy

T. FOUCAULT, M. Pagano, A. Roëll

Oxford University Press

2013



The way in which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. Market Liquidity offers a more accurate and authoritative take on liquidity and price discovery. The authors start from the assumption that not everyone is present at all times simultaneously on the market, and that even the limited number of participants who are have quite diverse information about the security's fundamentals. As a result, the order flow is a complex mix of information and noise, and a consensus price only emerges gradually over time as the trading process evolves and the participants interpret the actions of other traders. Thus a security's actual transaction price may deviate from its fundamental value, as it would be assessed by a fully informed set of investors. This book takes these deviations seriously, and explains why and how they emerge in the trading process and are eventually eliminated. The authors draw on a vast body of theoretical insights and empirical findings on security price formation that have accumulated in the last thirty years, and have come to form a well-defined field within financial economics known as "market microstructure." Focusing on liquidity and price discovery, they analyze the tension between the two, pointing out that when price-relevant information reaches the market through trading pressure rather than through a public announcement, liquidity suffers. The book also confronts many puzzling phenomena in securities markets and uses the analytical tools and empirical methods of market microstructure to understand them. These include issues such as why liquidity changes over time, why large trades move prices up or down, and why these price changes are subsequently reversed, why we see concentration of securities trading, why some traders willingly disclose their intended trades while others hide them, and why we observe temporary deviations from arbitrage prices

Au coeur des cabinets d'audit et de conseil : de la distinction à la soumission

Au coeur des cabinets d'audit et de conseil : de la distinction à la soumission

S. STENGER

Presses Universitaires de France (PUF)

2018



Contemporary Perspectives in Corporate Social Performance and Policy

Contemporary Perspectives in Corporate Social Performance and Policy

A. STACHOWICZ-STANUSCH, W. AMANN

Information Age Publishing

2018



The book Contemporary Perspectives in Corporate Social Performance and Policy - The Middle Eastern Perspective is our endeavor to deepen the current discussion about business and institutional activity in Middle Eastern countries and disseminate the new perspective of the scientific inquiry in the responsibility of various organization operating in this part of the world.The book is divided into four parts: “Introduction”, “Reality and Challenges of Corporate Social Performance - The Middle Eastern Perspective”, “Corporate Social Responsibility in Middle Eastern countries”, “Corporate Social Performance –specific problems”. There were included some theoretical and practical contributions into the topic of corporate social responsibility and corporate social performance based on experiences from different countries (such as Israel, Turkey, United Arab Emirates). We hope that this volume will help to understand better this specific region and its business activities

Coûts et Management

V. MALLERET, C. MENDOZA

Dunod, Paris

2018



Cracked it ! How to solve big problems and sell solutions like top strategy consultants

B. GARRETTE, C. PHELPS, O. SIBONY

Palgrave Macmillan

2018



Solving complex problems and selling their solutions is critical for personal and organizational success. However, it doesn’t come naturally and most of us haven’t been taught how to do it well. Research shows a host of pitfalls trips us up when we try: We’re quick to believe we understand a situation and jump to a flawed solution. We seek to confirm our hypotheses and ignore conflicting evidence. We view challenges incompletely through the frameworks we know instead of with a fresh pair of eyes. And when we communicate our recommendations, we forget our reasoning isn’t obvious to our audience.How can we do it better?In Cracked It!, seasoned strategy professors and consultants Bernard Garrette, Corey Phelps and Olivier Sibony present a rigorous and practical four-step approach to overcome these pitfalls. Building on tried-and-tested (but rarely revealed) methods of top strategy consultants, research in cognitive psychology, and the latest advances in design thinking, they provide a step-by-step process and toolkit that will help readers tackle any challenging business problem. Using compelling stories and detailed case examples, the authors guide readers through each step in the process: from how to state, structure and then solve problems to how to sell the solutions.Written in an engaging style by a trio of experts with decades of experience researching, teaching and consulting on complex business problems, this book will be an indispensable manual for anyone interested in creating value by helping their organizations crack the problems that matter most

Création d'entreprise : Comment trouver le meilleur financement

R. PAPIN

Dunod, Paris

2018




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