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FINANCIAL MARKETS AND INSTITUTIONS A MODERN PERSPECTIVESAUNDERS A., CORNETT M.wydawnictwo: MCGRAW-HILL , rok wydania 2004, wydanie IIcena netto: Accessible, thoroughly up to date, and pedagogically rich, Saunders and Cornett's Financial Markets and Institutions 2/e fits perfectly into the newest segment of the markets and institutions course area. Beginning with ten chapters on markets, the student is able to create a solid microeconomics focus while still building on the risk management/risk measurement framework. International coverage has been provided throughout the text and exceptional illustrations and examples make even the most difficult concepts, like derivatives, easy to learn.
New to This Edition Ethics in Finance Powerweb is bundled free with each new text. This online resource provides news articles and essays that complement the textbook and your course. It is an easy way to keep current on real-world applications related to ethical situations in finance. In addition to many reviewed articles, Ethics in Finance Powerweb also offers current news, weekly updates with assessments, interactive exercises, Web research guide, study tips, and more! Visit http://www.dushkin.com/powerweb for more information. Web Exercises with discussion questions. New web exercises direct students to relevant web sites to take advantage of the vast resources available through the Internet. The discussion questions provoke thoughtful in-class discussions to show the relevance of topics. Standard & Poor's Problems featuring financial institutions. Standard & Poor's Market Insight Problems are included in end of chapter questions. These problems require the use of the Educational Version of Market Insight, taking advantage of Standard & Poor's powerful and well-known Compustat database. These problems provide instructors with an easy online way to incorporate current, real world data into the classroom. Access to this rich online resource is FREE with every new copy of the text. Increased global coverage. International information is increasingly important for students to understand in today's global economy. The markets chapters generally include a section on the existence of foreign financial markets similar to that in the U.S. The authors also look at the extent to which foreign investors are participants in the various U.S. financial markets. The impact of changes in foreign exchange rates on individual investments and on financial institution profits are also examined, along with how foreign exchange risk can be hedged by individual investors and Financial Institutions. A new section on global issues has been added to the Chapters describing the various sectors of the financial institutions industry. Chapter 11 has been substantially revised to include electronic technology and the Internet's impact on financial services. Technological changes occurring over the last decade have changed the way financial institutions offer services to customers, both domestically and overseas. The effect of technology is also referenced in other chapters where relevant. With the introduction of the Euro into European markets, all relevant material has been updated. Discussion of recent corporate scandals involving financial and non-financial institutions has been added throughout the chapters. The Basel capital regulations for banks and thrifts are included in detailed examples in Appendix D to Chapter 14 (found at www.mhhe.com/sc2e). A major change is scheduled to become effective in 2006. The chapter examines both the current regulations as well as the new capital regulations. Both will likely be in effect at some point in time while this edition of the text is in print. Chapter 14 discusses and provides an example of new FDIC deposit insurance premium requirements. Appendix B to the chapter (found at www.mhhe.com/sc2e) provides numerical examples pertaining to the new deposit insurance rules. All chapters have been updated along with Tables and Figures to include the most recently available data. The book's website (www.mhhe.com/sc2e) has been updated to supplement the text. The site includes information about the book, and an Instructors' site containing the password protected Instructor's Manual and PowerPoint. "Technology in the News" boxes have been added that discuss how technology and the Internet are affecting financial institutions as an industry. Further, "In the News" boxes have been updated to include examples of recent events occurring in financial markets and at financial institutions. Internet exercises have been added throughout the chapters as well as at the end of each chapter. Also, additional problems have been added at the end of each chapter that allow students to practice a variety of skills using the same data or set of circumstances. Features Markets focus: The financial
services industry continues to undergo dramatic changes. Not only have the boundaries
between traditional industry sectors, such as commercial banking and investment banking,
broken down but competition is becoming increasingly global in nature as many Europeans
enter into U.S. financial service markets, and vice versa. Many forces are contributing to
this breakdown in inter-industry and inter-country barriers, including financial
innovation, technology, taxation, and regulation. Modern risk management/risk
measurement framework: Modern risk management involves the measurement and management of
the risks faced by the modern financial institutions. This text offers a unique analysis
of the risks faced by investors and savers through both financial institutions and
financial markets, as well as strategies that can be adopted for controlling and managing
these risks. The risk categories are overviewed in Chapter 20. They include such risks as
credit risk, liquidity risk, interest rate risk, foreign exchange risk, and technology and
operational risks. As international markets and technology have developed, the measurement
and management of these, as well as all other risks, have evolved. This text 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. The analytical rigor is mathematically accessible to all levels of students, undergraduate and graduate, and is balanced by a comprehensive discussion of the unique environment within which financial markets and institutions operate. Important practical tools such as how to issue and trade financial securities and how to analyze financial statements and loan applications will arm students with skills necessary to understand and manage financial market and institution risks in this dynamic environment. While descriptive concepts, so important to financial management (financial market securities, regulation, industry trends, industry characteristics, etc.) are included in the book, ample analytical techniques are also included as practical tools to help students understand the operation of modern financial markets and institutions. Depository institutions chapters: Saunders/Cornett is the first book to cover the new regulations and look at its impact on the various sectors of depository institutions. The chapters on depository institutions describe the key characteristics and recent trends in the commercial banking sector and the thrift institution sector. They also describe the financial statements of a typical depository institution, and the ratios used to analyze those statements. The authors also analyze actual financial statements for representative financial institutions. Finally, these chapters provide a comprehensive look at the regulations under which these financial institutions operate, and particularly, at the effect of recent changes in regulation, such as reforms of deposit insurance premiums and capital adequacy requirements. Chapters on other financial
institutions--finance companies, mutual funds, etc.: The chapters on the various types of
financial institutions have been updated to include the latest data and events affecting
each. These chapters provide an overview describing the key characteristics and regulatory
features of the other major sectors of the U.S. financial services industry. A major part
of this pertains to the changes that have resulted from the Financial Services
Modernization Act of 1999. Chapters on Mutual Funds and Pension Funds has been retained,
which have been significant in the industry, as these financial institutions are used by
most U.S. individual investors to invest in financial markets. McGraw-Hill's Knowledge Gateway--The Complete Resource for Teaching Online Courses. McGraw-Hill/Irwin, in partnership with Eduprise, is proud to bring this unique service to instructors. This comprehensive Website contains a wealth of information for any professor interested in teaching online. Level one is available to any instructor browsing our Website. Level two is reserved for McGraw-Hill customers and contains access to free technical and instructional design assistance. For more details, visit http://mhhe.eduprise.com/home.nsf PageOut is McGraw-Hill's unique point-and click course Website tool, enabling you to create a full-featured, professional quality course Website without knowing HTML coding. With PageOut you can post your syllabus online, assign McGraw-Hill Online Learning Center or eBook content, add links to important off-site resources, and maintain student results in the online grade book. You can send class announcements, copy your course site to share with colleagues, and upload original files. PageOut is free for every McGraw-Hill/Irwin user and, if you're short on time, we even have a team ready to help you create your site! You can customize this text with McGraw-Hill/Primis Online. A digital database offers you the flexibility to customize your course including material from the largest online collection of textbooks, readings, and cases. Primis leads the way in customized eBooks with hundreds of titles available at prices that save your students over 20% off bookstore prices. Additional information is available at 800-228-0634. PowerWeb. This online reservoir of discipline-specific news articles and essays offer a great way to keep your course current, while complementing textbook concepts with real-world applications. Articles and essays from leading periodicals and niche publications in specific disciplines are reviewed by professors like you to ensure fruitful search results every time. PowerWeb also offers current news, weekly updates with assessment, interactive exercises, Web research guide, study tips, and much more! http://www.dushkin.com/powerweb. BusinessWeek Edition. Your students can subscribe to 15 weeks of Business Week for a specially priced rate of $8.25 in addition to the price of the text. Students will receive a pass code card shrink-wrapped with their new text. The card directs students to a Website where they enter the code and then gain access to BusinessWeek's registration page to enter address info and set up their print and online subscription as well. Passcode ISBN 007-251530-9. Wall Street Journal Edition. Your students can subscribe to the Wall Street Journal for 15 weeks at a specially priced rate of $20.00 in addition to the price of the text. Students will receive a "How To Use the WSJ" handbook plus a pass code card shrink-wrapped with the text. The card directs students to a Website where they enter the code and then gain access to the WSJ registration page to enter address info and set up their print and online subscription, and also set up their subscription to Dow Jones Interactive online for the span of the 15-week period. Passcode ISBN 007-251950-9. Standard & Poor's Educational Version of Market Insight. McGraw-Hill/Irwin is proud to partner with Standard & Poor's to offer access to the Educational Version of Standard & Poor's Market Insight(c). This rich online resource provides six years of financial data for 100 top US companies. The password-protected Website is the perfect way to bring real data into today's classroom. This is free with selected McGraw-Hill titles, and is available for an extra $10 with additional titles. Contact your rep for more information or visit www.mhhe.com/edumarketinsight. GradeSummit(TM) is a dynamic self-assessment and exam preparation service for students and instructors. Detailed diagnostic analysis of strengths and weaknesses enables efficient and effective study for students and effortless information for instructors. Find out more at www.gradesummit.com. Exceptional illustration program (figures, diagrams, graphs) to ensure accessibility: In the markets chapters, the details of getting a security to the market and the subsequent trading of securities are illustrated using figures, diagrams, etc. No other text provides the details or illustrations in this manner or with this detail. After reading a Chapter, the student should be able to visualize exactly how a security is placed in a financial market and then how he/she can transact in the market. Pedagogically rich: Concept call-out icons, outlined at the beginning of the chapter, show where the concept is being discussed within the text; key terms in the margin are provided for reinforcement; "In The News" boxes detail recent related news events; "Did You Know?" boxes outline interesting facts related to markets and institutions; comprehensive chapter summaries describe the Table of Contents
890 pages
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