We have compiled the list of Best Reference Books on Finance subject. These books are used by students of top universities, institutes and colleges. Here is the full list of best books on Finance along with reviews.
Kindly note that we have put a lot of effort into researching the best books on Finance subject and came out with a recommended list of best books. The table below contains the Name of these best books, their authors, publishers and an unbiased review of books on “Finance” as well as links to the Amazon website to directly purchase these books. As an Amazon Associate, we earn from qualifying purchases, but this does not impact our reviews, comparisons, and listing of these top books; the table serves as a ready reckoner list of these best books.
List of Finance Books with author’s names, publishers, and an unbiased review as well as links to the Amazon website to directly purchase these books.
- Financial Modeling
- Corporate Finance
- Behavioural Finance
- Financial Institutions and Markets
- Quantitative Analysis in Finance and Marketing
- Financing Infrastructure Projects
1. Financial Modeling
|1. “Financial Analysis and Modeling using Excel and VBA” by Chandan Sengupta
“Financial Analysis and Modeling using Excel and VBA” Book Review: Financial Analysis and Modeling Using Excel and VBA, Second Edition presents a comprehensive approach to analyzing financial problems and developing simple to sophisticated financial models in all major areas of finance using Excel 2007 and VBA (as well as earlier versions of both). This expanded and fully updated guide reviews all the necessary financial theory and concepts, and walks you through a wide range of real-world financial problems and models that you can learn from, use for practice, and easily adapt for work and classroom use. A companion CD-ROM includes several useful modeling tools and fully working versions of all the models discussed in the book.
|2. “Excel Worksheets and Solutions to Exercises to Accompany Financial Modeling, Fourth Edition, Access Code” by Simon Benninga
“Excel Worksheets and Solutions to Exercises to Accompany Financial Modeling” Book Review: Downloadable Excel worksheets and solutions to end-of-chapter exercises accompany Financial Modeling, Fourth Edition, by Simon Benninga. Access codes are required to download the supplemental material. New print copies of this book include a card affixed to the inside back cover with a unique access code. If you purchased a used copy of this book, this is a separately purchased printed access card.
|3. “Building Financial Models with Microsoft Excel: A Guide for Business Professionals” by K Scott Proctor
“Building Financial Models with Microsoft Excel” Book Review: Unlike the more technical financial modeling books on the market which often require knowledge of VBA (Visual Basic for Applications), this book provides beginning or intermediate level computer users with a comprehensive guide to building financial models using Microsoft Excel, the most popular spreadsheet program available. Building Financial Models with Microsoft Excel provides step-by-step instructions on the building of financial models using Excel and the accompanying CD-ROM contains sample Excel worksheets to guide the reader.
| 4. “Financial Modeling and Valuation: A Practical Guide to Investment Banking and Private Equity (Wiley Finance)” by Paul Pignataro
“Financial Modeling and Valuation” Book Review: You will construct a full scale financial model and valuation step-by-step as you page through the book. Step-by-step financial modeling – taught using downloadable Wall Street models, you will construct the model step by step as you page through the book. Illustrative concepts including detailing model flows help aid in conceptual understanding. Concepts are reiterated and honed, perfect for a novice yet detailed enough for a professional. Model built direct from Wal-Mart public filings, searching through notes, performing research, and illustrating techniques to formulate projections. Includes in-depth coverage of valuation techniques commonly used by Wall Street professionals. Illustrative comparable company analysis – built the right way, direct from historical financials, calculating LTM (Last Twelve Month) data, calendarization, and properly smoothing EBITDA and Net Income. Precedent transactions analysis – detailing how to extract proper metrics from relevant proxy statements. Discounted cash flow analysis – simplifying and illustrating how a DCF is utilized, how unlevered free cash flow is derived, and the meaning of weighted average cost of capital (WACC). Step-by-step we will come up with a valuation on Wal-MartChapter end questions, practice models, additional case studies and common interview questions (found in the companion website) to solidify the techniques honed in the book; ideal for universities or business students looking to break into the investment banking field.
| 5. “Mastering Financial Modelling in Microsoft Excel: A practitioner’s guide to applied corporate finance” by Day
“Mastering Financial Modelling in Microsoft Excel” Book Review: With every major choice we face we “run through the numbers” to guide our decision-making and legitimise the outcomes. Financial modelling helps managers to make more informed decisions and, crucially, win corporate commitment for those decisions. The ability to construct useful financial models with speed and accuracy is becoming a key skill for all executives to master.However, this is a skill few managers and businesses know how to develop. This book will show managers how they can extend their decision-making capabilities by mastering the use and abuse of financial models. This is the ultimate book and disk combination that will help finance professionals and business students alike to become more proficient in building Microsoft Excel models and applying corporate finance concepts. Several of the titles also come with companion CDs to allow you to put the book’s ideas into action straightaway.
| 6. “Financial Modeling” by Simon Benninga
“Financial Modeling” Book Review: This long-awaited fourth edition maintains the “cookbook” features and Excel dependence that have made the previous editions so popular. As in previous editions, basic and advanced models in the areas of corporate finance, portfolio management, options, and bonds are explained with detailed Excel spreadsheets. Sections on technical aspects of Excel and on the use of Visual Basic for Applications (VBA) round out the book to make Financial Modeling a complete guide for the financial modeler. The new edition of Financial Modeling includes a number of innovations. A new section explains the principles of Monte Carlo methods and their application to portfolio management and exotic option valuation. A new chapter discusses term structure modeling, with special emphasis on the Nelson-Siegel model. The discussion of corporate valuation using pro forma models has been rounded out with the introduction of a new, simple model for corporate valuation based on accounting data and a minimal number of valuation parameters.New print copies of this book include a card affixed to the inside back cover with a unique access code.
| 7. “Credit Risk Analytics: Measurement Techniques, Applications, and Examples in SAS” by Bart Baesens and Daniel Roesch
“Credit Risk Analytics” Book Review: Credit Risk Analytics begins with a complete primer on SAS, including how to explicitly program and code the various data steps and models, extract information from data without having to rely on programming, compute basic statistics, and pre-process data. No other solutions package provides the depth of coverage and level of expertise on aligning risk management theory with the latest code. Keep Credit Risk Analytics at your fingertips for everything you need to analyze credit risk of loans and loan portfolios in the commercial banking industry.
| 8. “Financial Modeling in Excel For Dummies” by Danielle Stein Fairhurst
“Financial Modeling in Excel For Dummies” Book Review: This book shows you how to harness Excel’s capabilities to determine profitability, develop budgetary projections, model depreciation, project costs, value assets and more. This book walks you through the process with clear, expert guidance that assumes little prior knowledge. Learn the six crucial rules to follow when building a successful financial modelDiscover how to review and edit an inherited financial model and align it with your business and financial strategySolve client problems, identify market projections, and develop business strategies based on scenario analysisCreate valuable customized templates models that can become a source of competitive advantage From multinational corporations to the mom-and-pop corner store, there isn’t a business around that wouldn’t benefit from financial modeling. No need to buy expensive specialized software—the tools you need are right there in Excel. Financial Modeling in Excel For Dummies gets you up to speed quickly so you can start reaping the benefits today!
| 9. “The Mathematics of Financial Modeling and Investment Management” by Sergio M Focardi and Frank J Fabozzi
“The Mathematics of Financial Modeling and Investment Management” Book Review: The Mathematics of Financial Modeling & Investment Management covers a wide range of technical topics in mathematics and financeenabling the investment management practitioner, researcher, or student to fully understand the process of financial decision-making and its economic foundations.This comprehensive resource will introduce you to key mathematical techniquesmatrix algebra, calculus, ordinary differential equations, probability theory, stochastic calculus, time series analysis, optimizationas well as show you how these techniques are successfully implemented in the world of modern finance. Special emphasis is placed on the new mathematical tools that allow a deeper understanding of financial econometrics and financial economics. They also cover a variety of useful financial applications, such as:Arbitrage pricingInterest rate modelingDerivative pricingCredit risk modelingEquity and bond portfolio managementRisk managementAnd much moreFilled with in-depth insight and expert advice, The Mathematics of Financial Modeling & Investment Management clearly ties together financial theory and mathematical techniques.
| 10. “Pro Excel Financial Modeling: Building Models for Technology Startups” by Tom Sawyer
“Pro Excel Financial Modeling: Building Models for Technology Startups” Book Review: Learn the business thinking behind financial modeling and execute what you know effectively using Microsoft Excel. Many believe that sales and profitability projections shown in financial models are the keys to success in attracting investors. The truth is that investors will come up with their own projections. The investor wants to understand the assumptions, structure, and relationships within the modeling of a startup. If the investor is satiated, the entrepreneur has successfully demonstrated a complete understanding of the business side of the enterprise. Pro Excel Financial Modeling provides the keys necessary to learn this thinking and to build the models that will illustrate it.Step–by–step approach to developing financial models in ExcelExtensive case studies and Excel templates provided.
2. Corporate Finance
|1. “Principles of Corporate Finance” by Richard Brealey and Stewart Myers|
|2. “Corporate Finance” by Jaffe and Westerfield
“Corporate Finance” Book Review: The book is designed for Finance students. This comprehensive book explains the basics of the subject of Finance with various examples. The book maintains proper balance between theory and application. Various topics like Agent Theory, Efficient markets, net present value and the trade-off between risk and return are properly discussed in the book. The book contains a lot of Contemporary information such as RBI, SEBI, BSE, Reliance Industry, Tata Steel and Infosys to make the concepts more comprehensible. This book has some added features with more resources to understand the subject better.
|3. “Corporate Finance Theory and Practice” by Aswath Damodaran
“Corporate Finance Theory and Practice” Book Review: The textbook is intended for the Corporate Finance course at the MBA level and also designed for the undergraduate students at higher level school. The book begins with the Introduction to Corporate Finance along with its Objectives. The book explains various concepts like The Time Value of Money, Financial Statements, a brief Introduction to Value and Price. The book gives an approximate estimate of Hurdle Rates for Firm and Projects. It also talks about Investment Decision Rules, Investments in Cash and Marketable Securities along with Returns and Corporate Strategy. The book gives in-depth information of Financing Process, Analyzing Cash Returned to Stockholders and Value Enhancements; Tools and Technique.
| 4. “Applied Corporate Finance” by Aswath Damodaran
“Applied Corporate Finance” Book Review: The book provides Finance Professionals on how to do Corporate Finance rather than Debate Theory. The book begins with the Objectives in Decision Making, basics of Risk, Risk Management and Hurdle Rates in Practice. The book contains Business Decisions which are classified for students into three groups which are investment, financing, and dividend decisions. The book has discussed the banking crisis and how it will change after the way they operate in the future. The book contains updated information on risk-free rates and risk premiums to provide finance professionals with insight into the latest crisis. The book gives an intense knowledge of Risk Measurement and Hurdle Rates, Measuring Return on Investments, Overview of the Financing Decisions and Capital Structures: Optimal Financial Mix and The Financing Details.
|5. “Fundamentals of Corporate Finance” by Bradford Jordan and Stephen Ross|
| 6. “International Corporate Finance” by Indian Institute of Banking and Finance
“International Corporate Finance” Book Review: The book is very useful for those who are interested in understanding Corporate Finance. The book helps the reader to understand the various nuances of the financial markets in the world. The book deals with all the important aspects of corporate finance in the international market and it covers the major concepts of Banking, Financial Requirements of Corporate. The book lays special emphasis on general principles of borrowing and lending.The book helps the reader to study about the law and documentation related to International Corporate Finance, regulatory issues and working of the global capital market. The book incorporates various topics like Investment Analysis, how to maximize shareholder value, return on Investment, Leveraged Layouts, consumption of fixed capital, growth stock and efficient market hypothesis.
| 7. “Corporate Finance: Theory and Practice” by S R Vishwanath
“Corporate Finance: Theory and Practice” Book Review: The book defines the importance of Finance in supporting other functional areas and fostering an understanding of how Decisions can create value. The aim of the book is to provide a thorough understanding of how and why firms make their financial decisions and their impact on shareholder value. Each chapter of the book has detailed and real-life cases to help students easily understand and grasp concepts. The book focuses on Special topics like Divisional Cost of Capital Estimation, Execution of Financial Strategy, Establishment of Debt and Dividend policies consistent with the company’s strategy and environment . Various new topics are covered in the book like Project Finance, Corporate Financial Flexibility, Acquisitions and Control, Performance Measurement and Incentive Compensation.
| 8. “Project and Infrastructure Finance: Corporate Banking Perspective” by Vikas Srivastava and V Rajaraman
“Project and Infrastructure Finance: Corporate Banking Perspective” Book Review: This comprehensive textbook is designed for management students studying Finance.The book gives an in-depth details of various elements and risks involved in project finance applicable to Indian markets and banks. The book also helps the student study about structuring, appraisal, documentation, risk management, follow up and arrangement of project finance bank loans.The book gives details of various components and complexities of project finance and also provides case studies based on managerial skills of readers while managing various financial situations. The book also includes RBI Guidelines regarding debt restructuring, management of distress assets and other related aspects.
| 9. “Principles of Corporate Finance Law” by Ferran and Chan Ho
“Principles of Corporate Finance Law” Book Review: The book helps the reader to learn how incorporated firms address the financial constraints that affect their investment decisions. The book combines company law, capital market regulation and commercial law to give readers a detailed information of the legal and regulatory issues relating to corporate financial transactions. The book also examines legal perspective, key elements of corporate financing structures and capital markets. Moreover, the book also incorporates how legal mechanisms affect corporate finance and the development of financial markets.
|10. “Damodaran on Valuation: Security Analysis for Investment and Corporate Finance” by Aswath Damodaran|
|11. “Determinants of Financial Development” by Yongfu Huang
“Determinants of Financial Development” Book Review: This book examines the emergence of both financial markets and carbon markets. It provides an in-depth investigation on the fundamental determinants of financial development.
3. Behavioural Finance
|1. “Behavioural Finance” by Shuchita Singh and Shilpa Bahi
“Behavioural Finance” Book Review: This book is dedicated tro Behavioural Finance which is a modern field of finance. This book has been designed keeping in mind the increasing occurrences of various anomalies of financial markets. It teaches about the theories and concepts put forward by the researchers and practitioners in financial markets. Efforts have been made to showcase the economic downturn and the role of this field in it. Facts in “Do You Know” boxes, abbreviations and model test papers for practice have been provided for in-depth learning. All latest information and views by experts in this field have been provided in the book.
|2. “Behavioural Finance” by William Forbes
“Behavioural Finance” Book Review: The book addresses how behavioural approach to a financial decision making can add value to standard finance. The author has kept largely to modelling strategies that those trained in economics will feel comfortable with. The book is a summary of both a rapidly growing field of research and a reflection of a discipline about to rupture as new ideas emerge. Discounting and Discounted Utility Model has been discussed. In the Bubbles chapter, an example from the 1929 Stock Market Crash has been taken. Part two of this book is focused on asset pricing which include topics like noise traders, overconfidence and optimism, asset pricing under Prospect Theory, momentum, etc. Insider Trading and Corporate Finance has been explored in detail.
|3. “Thinking, Fast and Slow” by Daniel Kahneman
“Thinking, Fast and Slow” Book Review: This book will help the reader to make better decisions in his/her personal and professional life. It will help in developing slow, rational thinking instead of the usual fast, intuitive thinking. Examples have been cited to show the miracles and mistakes of one’s conscious and unconscious thinking. The book presents the author’s understanding of judgement, which has been shaped by psychological discoveries of recent decades. It will urge the reader to improve the ability to identify and understand the errors of choice, in others and the reader himself. It provides an accurate diagnosis to limit the damage that bad choices often cause.
|4. “Behavioural Finance” by Chandra
“Behavioural Finance” Book Review: Part One of this book talks about Neoclassical Finance and Behavioural challenge. This is backed up by Rational Markets Hypothesis. Foundations of Rational Finance are discussed which include Expected Utility Theory, Modern Portfolio theory, Agency theory, etc. Next, foundations of behavioural finance are discussed, which include heuristics and biases, self-deception, Prospect Theory, Emotional factors and Social Forces, etc. The Equity Premium Puzzle is an important concept which has been discussed under Market Outcomes. Chapters related to Behavioural Corporate Finance have also been included as a major portion of this book. Solved Problems and Discussion Questions have been given for in-depth learning.
|5. “Value Investing and Behavioral Finance” by Suyash Bhatt
“Value Investing and Behavioral Finance” Book Review: This book is a comprehensive guide for investors who want to select stocks for investment. It tries to provide reasons as to why the market is behaving in a particular way. It explains how some individuals make use of market inefficiencies by buying something at one place, and selling it in another place at a higher rate. Errors often made by behavioural finance practitioners have been cited. Value Investing is thoroughly explained in this book which is a defensive investment strategy. The author portrays how Value Investing and Behavioural Finance are two sides of the same coin.
|6. “Understanding Behavioral Finance” by Lucy Ackert
“Understanding Behavioral Finance” Book Review: This book is an organized and practical approach to Behavioural Finance. Psychological principles of behavioural finance have been given quite importance in this book. It helps the reader understand how human behaviour impacts decisions of investors and practitioners. It also shows how social forces influence one’s choices. Here, the inferences of Behavioural Finance on retirements, pensions, education, etc is discussed. Money Management in behavioural investing has also been explored in detail.
|7. “Behavioral Finance” by Kadir C Yalcin
“Behavioral Finance” Book Review: This book talks about Behavioural Finance which is an area of finance dealing with psychological aspects of financial decision making. In heuristics and biases, it is shown that males tend to be more biased than females in terms of common behavioural biases. It also proves that mental accounting, representativeness, cognitive dissonance increase as education level rises. Oppositely, the idea of control and ambiguity aversion has an inverse correlation with education level. The book aims at discovering how investors behave when making financial decisions. Experimental results in this book depict that biases under self-deception have an upper hand which leads to investors suffering from cognitive disabilities.
|8. “Behavioural Technical Analysis: An introduction to behavioural finance and its role in technical analysis” by Paul V Azzopardi
“Behavioural Technical Analysis: An introduction to behavioural finance and its role in technical analysis” Book Review: This book is for traders who want to gain knowledge about the basics of Behavioural Finance with an in-depth learning of it’s role in technical analysis. It provides an introduction to the six main areas of behavioural finance. It discusses detailed implications of behavioural finance on three key technical analysis techniques: study of extremes, study of trends and support and resistance. With the depiction of observed technical patterns, it tries to formulate profitable investment strategies. Dealing with complexity, how humans perceive what is around them, sense of self, aversion to risk, the impact of society and crowds and gender are all important subfields of behavioural finance discussed in this book.
|9. “The Foundations of Behavioral Economic Analysis” by Sanjit Dhami
“The Foundations of Behavioral Economic Analysis” Book Review: In this book, an approach to the modern economic studies in the area of Behavioural Economics has been made. It spans all aspects from psychological foundations to most recent advances in this field. It provides seamlessly integrating theory with evidence from experiments. It even includes recent subtopics such as behavioural welfare economics and neuroeconomics. It covers a balanced discussion of the philosophical and methodological differences and similarities between behavioural and neoclassical approaches to microeconomics. It binds together numerous experimental findings, theoretical insights and exciting applications across all relevant fields of behavioral research.
|10. “Behavioral Finance: Psychology, Decision-Making, and Markets” by Lucy Ackert and Richard Deaves
“Behavioral Finance: Psychology, Decision-Making, and Markets” Book Review: This book is an organized and practical approach to Behavioural Finance. Psychological principles of behavioural finance have been given quite importance in this book. It helps the reader understand how human behaviour impacts decisions of investors and practitioners. It also shows how social forces influence one’s choices. Here, the inferences of Behavioural Finance on retirements, pensions, education, etc is discussed. Part One discusses Conventional Finance, Prospect Theory and Market Efficiency. Next, Investor Behaviour and Social Forces are topics discussed in detail. Behavioural explanations for anomalies have been provided. It also helps in learning retirement saving behavior and improving DC pensions.
4. Financial Institutions and Markets
|1. “Financial Institutions and Markets” by Bhole
“Financial Institutions and Markets” Book Review: this edition continues to offer the readers a complete understanding of the functioning of the whole set of banking and non-banking institutions as well as all the markets for short-term and long-term financial instruments and financial services. It places significant emphasis on recent financial reforms as updates reflecting the most current financial developments, changes, and trends in the financial industry, especially in India.Salient Features:- Restructured and revised chapters with latest theoretical concepts and data- Discussion on major issues in financial system in India- Discussion on demonetization and its impact in India.
|2. “Financial Markets and Institutions” by Frederic S Mishkin and Stanley Eakins
“Financial Markets and Institutions” Book Review: In Financial Markets and Institutions, bestselling authors Frederic S. Mushin and Stanley G. Eakins provide a practical introduction to prepare students for today’s changing landscape of financial markets and institutions. A unifying framework uses core principles to organize students’ thinking then examines the models as real-world scenarios from a practitioner’s perspective. By analysing these applications, students develop the critical-thinking and problem-solving skills necessary to respond to challenging situations in their future careers. Although this text has undergone a major revision, the Eighth Edition retains Mushin/Eakins’ hallmark pedagogy that make it the best-selling textbook on financial markets and institutions. Emphasis Critical Thinking with Key Features Chapter Previews at the beginning of each chapter tell students where the chapter is heading, why specific topics are important, and how they relate to other topics in the book. Numerical Examples guide students through solutions to financial problems using formulas, time lines, and calculator keystrokes. Summary Tables are useful study aids for reviewing material. Key Statements are important points that are set in boldface type so that students can easily find them for later reference. Graphs with captions, numbering over 60, help students understand the interrelationship of the variables plotted and the principles of analysis. Summaries at the end of each chapter list the chapter’s main points. Key Terms are important words or phrases that appear in boldface type when they are defined for the first time and are listed at the end of each chapter. End-of-Chapter Questions help students learn the subject matter by applying economic concepts, and feature a special class of questions that students find Particularly relevant.
|3. “Financial Markets Institutions and Financial Services” by Dr Vinod Kumar/Atul Gupta /Manmeet Kaur
“Financial Markets Institutions and Financial Services” Book Review: Comprehensive text book on “Financial Markets, Institutions and Financial Services”. The book is primarily covering the syllabus for the B.Com (Hons) Sem (V) Paper Bch 5.4 (C) DSE Group and CBCS Programme of various Central Universities throughout IndiaSubject matter has been dealt in a very simple & understandable language.Useful for Financial Market aspirants and covers topics like Stock Markets, Bond Markets, Insurance and Commercial Banking.Latest Rules and Regulations of the Regulatory bodies like RBI, IRDA and SEBI are covered. Practical real life illustrations and cases to make the reader understand the actual working of the Money Markets, Capital Markets, Banking and Insurance Services Industry along with many of the financial services like Leasing, Hire Purchase, Venture Capital, Credit Rating and Portfolio Management Services etc.Summary points of each chapter at the end are given for revision. Explanation of the difficult concepts with the help of Figures, Tables and Graphs.The book is also useful for the students of BBA/MBA and other Management courses of various institutions teaching papers like Indian Financial System, Financial Services or Merchant Banking.
| 4. “Financial Markets, Institutions and Financial Services” by Gomez and Clifford
“Financial Markets, Institutions and Financial Services” Book Review: And this book compresses, within the covers of a single volume, the entire gamut of financial markets, institutions and financial services. Divided into three parts Part I on Financial Markets deals with different Indian and global money markets, and primary and secondary markets. It also covers stock exchanges and their trade mechanism, foreign exchanges, as well as capital markets and their regulations; Part II, Financial Institutions covers diverse banking and non-banking institutions and their legislation; Part III, Financial Services discusses about the financial services which include mutual funds, lease financing, securitisation, and credit and debit cards.
| 5. “Financial Institutions and Markets” by Jeff Madura
“Financial Institutions and Markets” Book Review: Help students understand why financial markets exist, how financial institutions serve these markets and what services those institutions offer with the solid conceptual framework in this best-selling finance text. Madura’s leading FINANCIAL INSTITUTIONS AND MARKETS, 10E, emphasizes securities traded by financial institutions and the scope of participation of those financial institutions within each market. This edition also focuses on the management, performance and regulatory aspects of financial institutions and explores the functions of the Federal Reserve System, the major debt and equity security markets and derivative security market. This edition places significant emphasis on current financial reform as updates throughout reflect the most recent financial changes, developments and trends in today’s financial industry. Known for a solid, reader-friendly approach, author Jeff Madura blends a clear writing and contemporary coverage with hands-on learning applications such as Point/Counterpoint, "Using the Wall Street Journal,” and new online research assignments. Timely examples further connect concepts to today’s developments and financial trends. Each new copy of this edition includes a discount for Stock-Trak Global Portfolio Simulations Gold Service, the online trading simulation created specifically for classrooms worldwide that enables students to buy and sell stocks, bonds, mutual funds, options, future options and more using hypothetical brokerage accounts.
| 6. “Foundations Of Financial Markets and Institutions” by F Modigliani Frank J Fabozzi
“Foundations Of Financial Markets and Institutions” Book Review: A core text for one-semester courses in Financial Institutions and Markets.This text offers a comprehensive exploration of the revolutionary developments occurring in the world’s financial markets and institutions i.e., innovation, globalization, and deregulation with a focus on the actual practices of financial institutions, investors, and financial instruments.
| 7. “Financial Markets and Institutions – SIE: An Introduction to the Risk Management Approach” by Anthony Saunders and Marcia Cornett
“Financial Markets and Institutions – SIE: An Introduction to the Risk Management Approach” Book Review: The text offers a unique analysis of the risks faced by investors and savers interacting through financial institutions and financial markets, as well as strategies that can be adopted for controlling and managing risks. Key Features: Strong markets focus within a modern risk management framework. Detailed coverage of ethics in finance Looks at how new risks have evolved, how the more traditional risks have changed as a result, and how all of these risks can be measured and managed. Pedagogically rich to help students retain and apply chapter concepts. Chapter Navigators. Well developed end of chapter problems, at least twenty per chapter, are written for varied levels of difficulty.
| 8. “The Financial System in India: Markets, Instruments, Institutions, Services and Regulations” by Das S C
“The Financial System in India: Markets, Instruments, Institutions, Services and Regulations” Book Review: This comprehensive book critically examines and presents in detail, a conceptual framework on various components/structures of a formal financial system which includes financial institutions, financial markets, financial instruments/securities, financial services, financial regulations and regulatory authorities. It brings to its readers the ever-changing organisational, structural, institutional, regulatory and policy developments in the financial sector of India. The book contains 36 chapters divided in 6 parts. Part A, Financial System, comprising 3 chapters, provides an overview of the Indian financial system, economic development and the financial sector reforms in India. Part B, Financial Markets contains 11 chapters to provide an in-depth analysis of different elements of Indian financial markets. Part C, Financial Instruments comprises 3 chapters to deal with the instrumentation side of the financial system. Part D, Financial Institutions, includes 7 chapters to provide an in-depth knowledge about institutions functioning in the financial system. Part E, Financial Services comprises 10 chapters to put readers’ attention towards financial services that facilitate the components of the core financial system. Part F, Financial Regulations includes 2 chapters to deliberate on the financial regulations and the role of regulatory authorities. The book is designed as an essential textbook for a course on Indian.
| 9. “Financial Institutions and Markets” by Kohn
“Financial Institutions and Markets” Book Review: It provides a thorough discussion of the specifics of banking, insurance, pension funds, and mutual funds. In a similar fashion, the book elucidates the general principles and economic functions common to all financial markets and offers an in-depth look at the specifics of the particular markets for government securities, mortgages, corporate debt, equity, and derivatives. The final section addresses the management of liquidity and risk and discusses the safety, stability, and regulation of financial intermediaries and financial markets. Each chapter begins with a list of study objectives and concludes with a summary. Key terms are listed at the end of each chapter and defined in marginal glossaries as they occur in the text. End-of-chapter questions are included to provide a stimulus for discussion. “In this second edition, Meir Kohn addresses the structure of financial institutions and markets and investigates why and how existing markets are evolving. The book emphasizes a functional focus on financial intermediaries and markets such as government securities, mortgage, corporate debt, equity markets, derivatives, and market microstructure. Chapters cover liquidity and risk, regulation, and developing financial systems.”
| 10. “Foundations of Financial Markets and Institutions” by Frank J Fabozzi
“Foundations of Financial Markets and Institutions” Book Review: A comprehensive exploration of the world’s financial markets and institutions. Foundations of Financial Markets and Institutions, offers a comprehensive exploration of the revolutionary developments occurring in the world’s financial markets and institutions -i.e., innovation, globalization and deregulation-with a focus on the actual practices of financial institutions, investors and financial instruments. This fourth edition incorporates and addresses the vast amount of changes that have recently occurred in financial institutions and markets around the world.
|11. “Handbook of Research on Strategic Developments and Regulatory Practice in Global Finance (Advances in Finance, Accounting, and Economics)” by Ozlem Olgu and Hasan Dincer
“Handbook of Research on Strategic Developments and Regulatory Practice in Global Finance (Advances in Finance, Accounting, and Economics)” Book Review: This book is a guide to all the main factors of establishing a strong global market and financial system. Topics included are economic growth as modern countries, countries with debt struggle, unemployment and slow growth. Valuable chapters on financial development and financial crisis are discussed. This book is useful for professionals and students studying in the finance stream.
|12. “Micro Markets: A Market Structure Approach to Microeconomic Analysis (Wiley Finance)” by Robert A Schwartz
“Micro Markets: A Market Structure Approach to Microeconomic Analysis (Wiley Finance)” Book Review: The book focuses on connecting market theory with practical applications. It is a guide explaining basic concepts of microeconomics and its market applications. It consists of practical based problems for better understanding. It also consists of practice problems and examples.
|13. “Financial Modeling, Actuarial Valuation and Solvency in Insurance” by Mario V Wuthrich and Michael Merz
“Financial Modeling, Actuarial Valuation and Solvency in Insurance” Book Review: The book is based on risk management for financial institutions. This is a mathematically rigorous volume. Ideas from financial mathematics actuarial sciences and economic theory have been combined. Solvency questions in incomplete markets are studied with its help. It also helps to analyze hedging risks. Asset-and-liability management questions and limited liability options can also be studied. Dividend to shareholder questions and the role of reinsurance has also been explained. Solvency discussion has been given a scientific framework. This book can be used by researchers and practitioners. Basics of probability theory and statistics are required. Knowledge of popular distributions, stochastic processes and martingales is also required.
5. Quantitative Analysis in Finance and Marketing
|1. “Financial Management” by I M Pandey
Book Review: This book stresses the modern analytical approach that is used in corporate finance decision making. The book mainly focuses on finance theory and its implications in the financial decision making process that involves investment, financing, dividend and working capital management. The book also contains discussion about sources and instruments of short term and long term finances, mergers and acquisitions; shareholders value creation, balanced scorecard, corporate governance and corporate policies. The book is suitable for professional and postgraduate courses like MBA, MCom, CA, CFA, ICWA and many more.
|2. “Management of Company Finance” by G M Samuels and F M Wikes
Book Review: This book covers various aspects of company finance that includes the flow of funds and taxation along with investment, capital budgeting and option theory. The book also discusses the shareholders roles and share capital and also takes into consideration the financial planning and cash management along with debtors and inventory. The author has vast experience in capital budgeting technologies and is also a researcher in the field of investment decision making.
|3. “Quantitative Analysis of Financial Decisions” by J C T Mao|
|4. “Financial Policy Decisions” by Bierman and Harold|
| 5. “Advances in Quantitative Analysis of Finance and Accounting” by Lee Cheng-Few Lee
“Advances in Quantitative Analysis of Finance and Accounting” Book Review: The book circulates development in the quantitative analysis of finance and accounting. It features various chapters about corporate finance and debt management, earnings management, equity market, auditing, option pricing theory, and interest rate theory. All the chapters contain detailed descriptions of the previous topics. The book highlights various applications and problems of quantitative methods in financial management, financial accounting, and business management. This book promotes interaction between academic research and applied research in the field of finance and accounting.
| 6. “Quantitative analysis of effect” by Kumar Sanjay Dr
“Quantitative Analysis of Effect” Book Review: This book is based on the concept of micro-finance. It tells about the benefits of participation in micro-finance programs. These benefits are measured in terms of daily per person expenditure (DPPE), DPPE on food, education, and food security and satisfaction with life. The data mentioned in this book is collected from June 2007 to August 2007 from the 5 branches of Thaneakea Phum Cambodia Ltd (a local micro-finance institute), serving largely a rural population in Cambodia. Survey was conducted with 310 clients.
| 7. “Quantitative Analysis in Financial Markets” by Marco Avellaneda
“Quantitative Analysis in Financial Markets” Book Review: The book gives detailed information about the emerging science of pricing and hedging derivative securities, and managing financial risk. The articles featured in this book describe topics such as option theory, dynamic hedging, interest-rate modeling, portfolio theory, and price forecasting using statistical methods. The book is based on the lectures delivered at the celebrated Seminar in Mathematical Finance at the Courant Institute, by prominent researchers and practitioners in the field of quantitative financial modeling.
| 8. “Quantitative Analysis, Derivatives Modeling, And Trading Strategies” by Yi Tang and Bin Li
“Quantitative Analysis, Derivatives Modeling, and Trading Strategies” Book Review: The book describes practical applications and recent developments in the areas of quantitative financial modeling. Its aim is to combine economic insights with mathematics and modeling to help the readers in applying the bookish knowledge in real life. This book features topics such as martingale model factory, martingale resampling and interpolation, counterparty credit risk modeling, pricing, and some arbitraging strategies. The book describes various trading structuring strategies. The strategies mentioned in this book apply to financial markets, such as the credit, equity, foreign exchange, and commodity markets.
| 9. “Quantitative Analysis in Marketing Management” by Luiz Moutinho
“Quantitative Analysis in Marketing Management” Book Review: The book describes the key quantitative concepts and techniques that are used in contemporary management of the marketing function. Some of the mentioned techniques are inspired from financial management. It contains a detailed description of the interpretation of results. The interpretation of results and statistics using computations and calculations are illustrated, so that the readers can understand the featured techniques. The book also features eight case studies and eight analytical problems to demonstrate the application of different quantitative techniques.
|10. “Optimisation, Econometric and Financial Analysis” by Erricos Kontoghiorghes|
6. Financing Infrastructure Projects
|1. “Financing Patterns for Infrastructure Projects” by Amareshwar Mishra and R K Mishra
“Financing Patterns for Infrastructure Projects” Book Review: It presents detailed financial methodologies to evaluate infrastructure projects in a lucid manner which will help professionals, credit personnel, lead arrangers and students. It also helps business schools, and banks and financial institutions to understand the fundamental principles, their applications and implications, their concerns and inevitable grey areas, related risks and their mitigating strategies behind assessment of such projects. The book will be useful to professionals engaged in various infrastructure sector projects such as roads and transportation, power, ports, airports, oil and gas pipelines, warehousing, urban infrastructure, water and sanitation, etc. ReviewThe book is a comprehensive guide on all issues relating to infrastructure, bringing together the topic of infrastructure investment, project finance, public private partnership, with particular reference to road and power sectors. This volume will assist both lenders and investors in understanding and familiarising with all relevant issues related to infrastructure financing in India, and will serve as a source of immediate reference. My sincere appreciation to the authors for the excellent work done. ― S.C. Gupta, Director, Power Finance Corp. Ltd; former Director, Canara Bank and UCO Bank.
|2. “Financing Infrastructure Projects (Construction Management Series) (Student Paperbacks)” by Tony Merna and Cyrus Njiru
“Financing Infrastructure Projects” Book Review: Project finance as a tool for financing infrastructure projects – Public finance for infrastructure projects – Financial instruments – Financial engineering – Restructuring projects – Financial markets – The concession or build-own-operate-transfer (BOOT) procurement strategy – The private finance initiative – Challenges and opportunities for infrastructure development in developing countries – Financial institutions – Privatisation as a method of financing infrastructure projects – Typical risks in the procurement of infrastructure projects – Mechanism for risk management and its application to risks in private finance initiative projects – Insurance and bonding – Case study of a toll bridge project – Case study on managing project financial risks utilising financial engineering techniques.
|3. “Review of Risk Mitigation Instruments for Infrastructure: Financing and Recent Trends and Development (Trends and Policy Options)” by Tomoko Matsukawa and Odo Habeck
“Review of Risk Mitigation Instruments for Infrastructure” Book Review: This book summarizes existing risk mitigation instruments―primarily focusing on those offered by multilateral and bilateral official agencies―and presents recent trends and developments that make these guarantee and insurance products valuable in securing financing for infrastructure projects in developing countries. Topics covered include: • descriptions of different types of risk mitigation instruments • characteristics of multilateral, bilateral, and private providers of risk mitigation instruments and compatibility of instruments. It also includes recent developments and innovative applications of risk mitigation instruments through case transactions • areas that pose challenges to the use of risk mitigation instruments as catalysts of infrastructure development. This book will be of particular interest to readers working in business and finance, law and regulation, and infrastructure projects and finance.
| 4. “Project Finance in Theory and Practice: Designing, Structuring, and Financing Private and Public Projects” by Stefano Gatti
“Project Finance in Theory and Practice” Book Review: This book presents comprehensive coverage of project finance in Europe and North America. The Second Edition features two new case studies, all new pedagogical supplements including end-of-chapter questions and answers, and insights into the recent market downturn. The book can be used both for training and as a guide to best practices.” –Alexander S. Moczarski, President and Chief Executive Officer – Guy Carpenter – Marsh & McLennan Group”Project finance is a long-established technique for non recourse financing which is extremely relevant today, with more and more infrastructure and other large projects being developed. Professor Gatti and the other contributors use practical concepts and very relevant case studies to clearly explain Project Financing to its readers. It is a must read and a reference book for professionals and practitioners.” –Jean Pierre Mustier, UniCredit Deputy General Manager and Head of CIB DivisionReviewProvides a complete description of the ways a project finance deal can be organized – from industrial, legal, and financial standpoints and the alternatives available for funding it.
|5. “Contract Management and Financing of Infrastructure Projects” Contract Management and Financing of Infrastructure Projects|
| 6. “Attracting Investors to African Public-private Partnerships: A Project Preparation Guide” by PPIAF and Infrastructure Consortium for Africa
“Attracting Investors to African Public-private Partnerships: A Project Preparation Guide” Book Review: This book assesses the relevant issues for selecting a project for public-private partnership, the actions for preparing projects for market, and the management process. The guide addresses hiring and managing expert advisers, explains how the public sector should interact with the private sector during the project selection and preparation phases to ensure that decisions during these phases are realistic, and analyzes the issues of engagement with the private sector during the tender and after a contract has been signed. ‘Attracting Investor to African Public-Private Partnerships’ will help the public sector in Africa to attract private sector investment through effective project advertising, management, and implementation. This book will enhance the chances of developing effective public-private partnerships by overcoming major obstacles to project delivery by having the right information, on the right projects, for the right partners, at the right time. This guide is aimed at African public sector officials who are concerned about the delivery of infrastructure projects and services through partnership with the private sector, as well as staff in donor institutions who are looking to support PPP programs at the country-level.
| 7. “Infrastructure Investing: Managing Risks and Rewards for Pensions, Insurance Companies and Endowments (Wiley Finance)” by Rajeev J Sawant
“Infrastructure Investing” Book Review: Invaluable information regarding one of the biggest worldwide growth areas in investing-infrastructure assetsInfrastructure investing is about to explode on the worldwide scene. The fact is that real money will need to be spent on real projects-which will present real opportunities for stable, long-term returns. But infrastructure assets have unique characteristics and the investments and funds that will likely rise up must be suitably structured to serve investor needs. Author Rajeev Sawant has been analyzing infrastructure investments, funds, and project financing programs for nearly five years, and with this book, he presents information that will be invaluable to lenders, pension funds, insurance companies, investment funds, rating agencies, and even governments.Presents comprehensive data analysis on infrastructure cases worldwideAnalyzes the opportunities as well as the pitfalls of infrastructure investingFocuses on the needs of pensions, insurance companies, and endowments interested in infrastructure investingFor the next decade, worldwide economic growth and increased employment-as well as investment returns-will come from infrastructure projects. This book will help you understand today’s dynamic infrastructure asset class and quickly get you up to speed on the unique risks and rewards associated with it.
| 8. “Private Financing of Infrastructure Projects in a Developing Country” by Reuben Okai
“Private Financing of Infrastructure Projects in a Developing Country” Book Review: Financing of Public Sector Infrastructure has taken a new twist within the past two decades. Traditional modes of infrastructure procurement are gradually being replaced with the new model, the Private Finance Initiative, PFI. Developing Countries are however yet to tap into and utilise the PFI to help alleviate their infrastructure quagmires due to the structure of these economies which makes it unattractive to the private sector. By way of simulation of an educational infrastructure project to be procured through the Build Operate Transfer model of the PFI in a developing country, Ghana, this book has developed a strategy and a framework to surmount the structural economic features which has staggered the adoption and implementation of the PFI in these economies. Aimed at individuals and organisations involved in the procurement and financing of public sector infrastructure in developing countries, this book provides governments, policy makers, Project Managers and construction firms, students on PFI and Development Financing Courses with sound information on strategies to adopt when considering utilising PFIs in realising public sector infrastructure in developing countries.
| 9. “Fundamentals of Water Finance” by Michael Curley
“Fundamentals of Water Finance” Book Review: This book addresses ways to provide the highest quality water services at the lowest possible cost, and examines the major finance issues that system managers face. It deals with grants, loans, municipal bonds, tariffs/rates and subsidies, as well as the major government finance programs offered by the Department of Agriculture and the EPA. It also provides managers with the tools to devise innovative financial strategies to make their systems much more efficient. This fully revised edition presents an easy-to-read guide for understanding the myriad options available for financing water and wastewater projects and how to evaluate the most appropriate options.Review”Fundamentals of Water Finance comes at just the right time as sector leaders struggle with how to provide the ratepayer with the most value for their dollar both through the traditional bond market and innovative ways to leverage existing and develop new financing opportunities to spur innovation and technological advances in the water sector. I have always been a fan of Michael Curley’s work and this book is a sterling example of why I will continue to be one. It is my pleasure to recommend this book to anyone in the water industry seeking to learn more about water project finance.”
|10. “Project Financing for Infrastructures” by Kuen Keith Ma|
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