The new volume deals more especially with two topics, the distribution of corporate securities and the financial side of corporate reorganizations. It also presents some discussion of the disposition made of corporate income. Though both law and accounting must be referred to in explaining financial matters, I hold an opinion that corporation finance has...
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The enormous and increasing values and profits represented by American business corporations have attracted general attention to corporate activities. The problem of corporation regulation is perhaps the leading issue of the day. Each of the leading political parties is committed to programs of corporation control, particularly in the field of public-service corporations. Many laws...
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PREFACE The man who stands before the counter screen of a bank looks at a piece of complicated yet smooth working machinery that is to him a deep mystery. He admires but does not understand it. He knows that the receiving teller takes his deposit and the paying teller cashes his check. When he...
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PREFACE THE principles of the following Work have appeared in former publications, but are more fully developed in this. Those publications have not been generally read, but were not, perhaps, without their effect. They at least have furnished the sub-stratum of more than one popular essay: if any writings on subjects of Political Economy can...
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PREFACE The author of the present treatise were more than human did he not experience some slight misgivings upon this, his first introduction, to the reading public. The task he has undertaken is one of no little magnitude, and in its accomplishment he has been often reminded by well-meaning friends as well as ill-disposed enemies,...
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PREFACE Excellent books on the best methods of bank book-keeping already exist, also other books on the theories and history of money and banking. In a well-organized course on banking this book should fill an intermediate place between those described; it is the pioneer of its kind. It is designed especially for three classes of...
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THE practice of Money-lending is now carried out on such an enormous scale, and by such a large class of society, and is attended by certain evils so widespread and disastrous, that it has become fairly necessary to look the problem in the face ; and whatever may be the conclusions arrived at, I...
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PREFACE It is the main purpose of this book to present a teachable elementary course in the application of mathematics to a broad class of financial problems. The material for the book has been obtained from many sources and tested in the teaching of such courses at three large universities. Experience has shown that...
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PREFACE BY THE AUTHOR This book has been prepared as a manual of business calculation, for use in connection with the problems which continually arise in the course of business as conducted today. In deciding what subjects to include the authors have been guided throughout by the desire to make the book directly useful in...
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WHERE TO GO FOR MONEY
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BANKS are commonly thought of as being chiefly engaged in the business of lending money, but as a matter of fact money loans make up a small part of their business. The investments of savings banks are indeed limited to the funds which they have received from depositors, together with such amounts as have...
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IN examining a piece of complex and delicate mechanism, suppose it to be the highest triumph of modern genius, the chronometer with the Arnold escapement, the first thing that impresses the eye is the exquisite finish and beauty of the workmanship, and the wonderful regularity and smoothness of the movement ; while the conviction...
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PREFACE Teachers of economics and corporation finance have expressed a wish to have a book covering the leading features of corporation finance available for classroom instruction — a book that can be read easily by students during a single semester. A clear purpose and method must be in mind in the preparation and use...
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PREFACE By The Author AS a general principle I am opposed to the Preface. I do not believe in telling people what I propose to say; I prefer to say it. But there are cases where an introduction proves a useful and illuminating adjunct to a book. In the present instance it serves a two-fold...
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ABSTRACT Models of asset pricing generally assume that the variables which characterize the state of the economy are observable. For example, the Capital Asset Pricing Model (CAPM) of Sharpe, Lintner and Mossin, Merton’s Intertemporal Asset Pricing Model and Ross’s Arbitrage Pricing Theory establish relations between distributional parameters of the rates of return on assets...
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