Synopses & Reviews
A new text from an experienced author. Hirschey adopts a new and unique approach to investments where both theory and practice are studied as a useful guide to a "random walk down Wall Street" to show how real-world behavior reflects the theory.
About the Author
Dr. Mark Hirschey is Professor in the School of Business at the University of Kansas, where he teaches undergraduate and graduate courses in managerial economics and finance. Author of more than 85 academic research articles, scholarly books and scholarly textbooks, Professor Hirschey has an international reputation for his research leadership and accomplishments at the interface of managerial economics and finance. Professor Hirschey has published articles in the American Economic Review, Journal of Financial Economics, Journal of Finance, Journal of Business, Review of Economics and Statistics, Journal of Industrial Economics, Managerial and Decision Economics and other leading scholarly journals. His work on the valuation effects of advertising, research and development and patent quality has established the importance of nonaccounting information in the stock market's valuation of firms. Similarly, his research on the economic implications of corporate restructuring (mergers, spin-offs, etc.) illustrates the importance of managerial incentives in the stock market's ongoing assessment of managerial effectiveness. Professor Hirschey has earned research awards for his studies on the effects of the Internet on investor behavior and market efficiency. He is founding president of the Association of Financial Economists, and co-editor of Advances in Financial Economics, a scholarly research series published by Elsevier Science (Amsterdam). He is also advisory editor for the Financial Review, Journal of Business FinanceandAccounting (London) and ManagerialandDecision Economics.
Table of Contents
Preface Part 1. Introduction to Investments 1. Importance of Studying Investments 2. Sources of Investment Information Part 2. Equity Securities 3. Overview of Equities Markets 4. Buying and Selling Equities 5. Risk and Return Part 3. Fixed-Income Securities 6. Bond Market 7. Bond Valuation and Management Part 4. Common Stock Analysis 8. Common Stock Basics 9. Investment Environment Part 5. Common Stock Selection 10. Growth Stock Investing 11. Value Investing Part 6. Efficient Markets 12. Efficient Market Hypothesis 13. Capital Asset Pricing Theory 14. Stock Market Anomalies Part 7. Investment Management 15. Mutual Funds 16. Global Investing Part 8. Financial Derivatives 17. Options Markets and Strategies 18. Futures Markets Appendix A. Compounding and the Time Value of Money Appendix B. Interest Factor Tables Credits Index