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"This book makes sense of the finance world from a non-finance perspective. It introduces, explains and demystifies essential ideas of business finance to those who do not have a financial background or training. The book delineates the financial workings of businesses and offers an overview of financial management in the global context. The volume: 1 Discusses fundamental concepts and application of accounting and finance at global level; 2 Contains effective tools for financial analysis, communication, monitoring, and resource allocation; 3 Provides important instructional aids such as figures, tables, illustrations and real-world corporate case studies to facilitate learning. 4 Concise in form yet comprehensive in content, delivers in-depth coverage of the five key constituents and entire gamut of the Finance Domain -financial accounting, cost accounting, financial management, financial markets, and tax planning; 5 Is thoroughly updated with the latest concepts, international corporate practices, recent trends, and current data on the subject with a vivid visual impact for pleasurable reading and learning experience. Accessible and comprehensive, this third edition is a revised version in accordance with the current finance laws, practices and data. A guide to building financial acumen and literacy, it will be a useful resource for executive and management development programmes (EDPs & MDPs) oriented towards business managers and management students, including MBA programmes, and allied disciplines of commerce, finance, economics and others. It will also benefit business executives, corporate heads, entrepreneurs, government officials, academicians of business and allied disciplines, as well as those who deal with finance or financial matters in their daily lives"--

"Finance" published on by Oxford University Press.

This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on finance.

"We present a dynamic general equilibrium model with agency costs where: i) firms are heterogeneous in the risk of default; ii) they can choose to raise finance through bank loans or corporate bonds; and iii) banks are more efficient than the market in resolving informational problems. The model is used to analyze some major long-run differences in corporate finance between the US and the euro area. We suggest an explanation of those differences based on information availability. Our model replicates the data when the euro area is characterized by limited availability of public information about corporate credit risk relative to the US, and when european firms value more than US firms the flexibility and information acquisition role provided by banks"--National Bureau of Economic Research web site