Index

ABB 1056

abnormal returns 2734

accountability 3956

accounting practices 259

accounting standards 3336

cultural debate on volatility 3356

expectations of 3336

targeting users 334

tyranny of net income and ratios 3345

acquisitions learning curve 108

ad hoc extension of portfolio 7

adding value

through financing 121228

through investment 59120

through risk management 229326

agency costs 154

aggregation 4045

Airbus 2412

airline industry 85

Allfirst Bank 24662

Allied Irish Bank 246, 249, 2556

allocation of risk 435

Amazon 81

America Online 415

American Home-American Cyanamid 102

AMEX 1468, 150, 152, 158, 191

Amgen 140

amortization 376

anchor 45

angels 186, 188, 205

Annual Real Options Conference 76

annuitants 6

anti-trust regulation 85, 114

AOL see America Online

APCIMS index 19

applying BSC to nonprofits and government organizations 3848

modifying architecture of BSC 3858

arbitrage assumptions 42

arbitrageurs 43

ARCH model see autoregressive conditional heteroskedasticity

“Are you about to get Googled?” 21820

Armageddon 37

Ashford Group 339

asset utilization 257

assets in place 135

Astra-Zeneca 98, 109

attrition rates 2924

Audit Commission 394, 402

Aussedat Rey 678

autoregressive conditional heteroskedasticity 282

back books 300

balance sheet 3412

balanced score card 37391

applying BSC to nonprofits and government organizations 3848

beyond measurement to management 3889

emergence of balanced scorecard 3734, 41617

intangible assets 3745

stakeholder and key performance indicator scorecards 3824

strategy maps 37682

supplementation of conventional financial reporting 3756

vs. conventional financial reporting 3756

see also what gets measured gets done

Bank of England 4216

Bank for International Settlements 307

Barclays Capital 27, 38

Barings 26970

basis risk 2912

impact on net interest margin 2912

Basle Committee on Banking Supervision 310

bear market 27, 45

Beeton's Guide to Investing Money with Safety and Profit 8, 12

behavioral finance 4251

applications of 479

cognitive biases 435

introduction 423

limits to arbitrage 457

Bermudan options 296

best practice in managing real options 934

extending field of vision 934

Best Practices LLC 419

Beta 23

Big Bang 201

Big Five 111

“Big Mac” 241

see also McDonald's

biotechnology 4323

black box 82

Black-Scholes model 83, 126

Blue Circle industries 352

blue sky laws 191

Boeing 241

bogus options 2512

bookbuilding 2089

BP 937

BP-Amoco 98

breakeven 295

Brent Spar 95, 431

Bridges Community Ventures 438

Bristol&Myers-Squibb 102

British Airports Authority 399

British Airways 1789

British Bankers' Association 306

British capitalism 4278

see also state capitalism; state of denial

British Government bonds 56, 20

BSA see Building Societies Association

BSC see balanced score card

BTP see below-target probability

BTR see below-target risk

Building Societies Act 1986 1867

Building Societies Act 1997 187

Building Societies Association 285

bull market 45, 49, 201

buyback schemes 16571, 17685

value of 16571

capital structure puzzle 12545

evidence 1329

theories 12732

toward a unified theory of corporate

financial policy 13942

Cargill 436

carve-outs and mispricing 546

case studies

capital ideas 1725

corporate governance failures 44765

cross-border deals 11820

death of the dividend 17685

denial 4279

equity risk premium 2441

failing to fill the funding gap 4646

fundamentals and stock market drive 528

Google press cuttings 21828

interview with Microsoft's CEO 43946

journey to junk 31519

learn by numbers 3436

Queens Moat Houses plc 33742

rating the raters 32026

real options 937

Sciona and venture capital 1869

cash flow return on investment 348

cash flow risk 273

CAT standards 285, 297

Caterpillar 2412

causes of unethical behaviors 41315

business climate 413

competitive global environment 414

human nature 414

nature of competitive organizations 41415

societal climate 414

Center for Research in Security Prices 1478

Central Office of Information 395

Central Statistical Office 397

Chadwicks Investment Circular 811, 18

changing firm characteristics 14664

characteristics of dividend players 15054

growth 1523

profitability 15052

size 153

synopsis 1534

charisma 69

cheerleading squads 72

Chicago Mercantile Exchange 248

churn rate 300

Cisco 104

Citicorp 383, 412

CME see Chicago Mercantile Exchange

Coca-Cola 347

code of best practice 45460

appointment of directors and nomination committee 458

composition of board of directors 4556

confidential information 458

independent directors 456

internal control and role and composition of internal control committee 45960

relations with institutional investors and other shareholders 460

remuneration committee 4589

role of board of directors 455

separation of chairperson and CEO positions 4578

transactions with related parties 460

codes of ethical conduct 430

cognitive biases in behavioral finance 435, 86

conservatism 45

disposition effect 45

framing 44

heuristics 43

mental accounting 44

overconfidence 434

representativeness 44

cognitive psychology 42

coherent packages of financial policies 140

Cold War 36

collateral 135

collective belief 6872

consequences of belief 712

emergence of belief 69

persistence of belief 6971

Colonial bonds 8

commercialization of contentious activities 435

commodity 304

common platforms 107

common time horizon 265

communication 400

company management 8990

complex interactions 4034

Compustat 133, 138, 147, 15055, 16062, 360

conditional variance models 282

confidence 265

consequences of belief 712

Conservation International 437

conservatism 45

Consols 67, 10

contentious attractions 4315

entering developing markets 434

exploiting new technologies 4323

exploring legally contestable markets 4345

moving from public to private sector 4334

contestable market exploration 4345

contracting costs 12830, 1326

benefits of debt in controlling overinvestment 12930

costs of financial distress 129

debt maturity and priority 1346

evidence for capital structure 1326

leverage ratios 1324

control structure of Italian listed companies 44550

control variables 135

controlling overinvestment 12930

controversy incorporated 43038

contentious attractions 4315

earning right to operate profitably 4358

conventional financial reporting vs. balanced scorecard 3756

Corning 65

corporate citizen 380

corporate failures 113

corporate finance industry 110111

corporate financial policy 13942

corporate governance failures 44765

compliance with Italy's code of best practice 45460

introduction 4478

monitoring structure 45054

ownership and control structures 44850

corporate growth spectrum 140

corrective actions 41213

cost-cutting 1034

costs of financial distress 129

costs of going public 210212

counters to short-term focus 3967

covenant restrictions 134

creative accounting 411

credit derivatives 302314

credit-linked notes 304

how credit derivatives are used 306311

market size and major participants 3046

potential risks 309311

types of credit derivative 3024

Credit Suisse First Boston 27, 350

credit-line management 306

credit-linked notes 304

credit-spread put option contracts 3034

creditworthiness 307

cross-border deals 11820

cross-pollination 437

cross-sectional regression techniques 133

Crossmar Matching System 259

CRSP see Center for Research in Security Prices

crystals 668

CSO see Central Statistical Office

currency exchange trading 24662

accounting practices 259

bogus options 2512

conclusion 25960

currency futures and swap transactions 248

currency hedging 2489

currency markets 2467

exchange contracts 247

falsified documents 252

forward exchange 2478

introduction 246

losses revealed 2556

Ludwig report 2568

options 248

prime brokerage accounts 2523

sale of options 2545

spot exchange 247

technology 2589

trading strategy of John Rusnak 24951

value at risk calculations 2534

currency futures 248

currency hedging 2489

currency markets 2467

customer strategy map 37980

customer value 380

Daimler-Benz 109, 350

Daimler-Chrysler 98, 101, 112

“dash for gas” 96

day traders 80

de facto insiders 167

deal-making industry 114

debt 12930

debt financing 125

debt maturity and priority 1346

debt to book ratios 1323

deCODE Genetics 433

default swaps 302

definition of return 67

definition of risk 67

Dell 165, 379

Deloitte Touche Tohmatsu 411, 453

depreciation 139, 350

derivatives disasters 26873

Barings 26970

Metallgesellschaft 2723

Orange County 27071

Procter & Gamble 2689

design philosophies 106

determinants of corporate borrowing 129

developing markets 434

direct public offerings 212

disposition effect 45

distortion 42

divergence of opinion hypothesis 204

diversification in practice 1920

diversion of innovative energy 107

dividend payer versus non-payer behavior 1557

dividend payment propensity 15460

dividend player characteristics 15054

dividend signaling power 1779

dividends

aims, objectives and theoretical setting 176

behavior of payers versus non-payers 1557

case of Intel 1834

cash dividend time trends 14750

caveats 185

characteristics of dividend players 15054

death of the dividend 17685

declining incidence of 15760

diminishing dividend signaling power 1779

disappearing dividends 14664

greater pressure from shareholders to conduct buybacks 1845

greater reliance on buyback schemes 17983

methodology 177

results 17785

share repurchases 16062

time trends in cash dividends 14750

Doerr, John 433

dollar loss metric 264

doomsday 274

DPOs see direct public offerings

drugs 401

dual-listed companies and mispricing 546

due diligence 186, 192, 212

dumb business moves 745

early diversification strategies 912

early lessons from managerial use of performance indicators 392–406

early warning system 73

“early-bird” specials 44

earning right to operate profitably 4358

learn to work with stakeholders 436

rethink leadership and governance 4378

take long-term view of market design 4356

understand social assets 4367

Eastman Kodak 125

eBay 63

economic capital 34950

economic imperative 98

economic reality 81

efficient investment portfolios 19

efficient markets hypothesis 42

EFQM award see European Foundation for Quality Management award

Electrolux 108

elements integral to performance indicators 3934

EMH see efficient markets hypothesis

empire building 109

Empire stocks 8

employee stock ownership plans 160

energy and rail privatization 4356

Enron 8081, 320, 41112, 454

EPS and intrinsic value 1657

equilibrium in value 19

equity arbitrage 46

equity financing 358

equity risk premium 2541

expected equity risk premiums 378

global evidence 2541

imprecise estimates 334

long-run perspective 256

new evidence 2932

prior estimates of risk premium 278

revisiting history 357

variation of risk premiums over time 324

what experts say 278

ESOPs see employee stock ownership plans

Essilor 646, 6874

establishment of realistic attainment levels 3989

ethics 407466

see also governance and ethics

European Foundation for Quality Management award 383

European Investment Bank 172

euthanasia 433

EVA implementation 35572

literature review 35860

research methodology 363

results 3638

sample selection 36062

sensitivity 3689

summary 36970

excess cash 167

“excessive” profits 436

exchange contracts 247

exchange rate environment 234

exit champion 64, 7071, 734

expected risk premiums 378

exploitation of new technologies 4323

exploring legally contestable markets 4345

extending field of vision 934

extension of securities 10

external financing 2057

extreme sport 82

Exxon 170

fair rates of return 25

fairness 131

fallen angels 316

Fannie Mae 422

FDA see U.S. Food and Drug Administration

Federal Reserve 103, 317

Federal Reserve Bank of New York 247, 253

feedback 403

finance theory trends 158

financial clearinghouses 267

financial distress 129

financial performance measures 34754

alphabet soup 34850

cash is fact, money is opinion 350

value for money? 35054

Financial Review of Reviews 13, 15, 1820

financial strategy map 379

financialization 333, 335

financing 121228

capital structure puzzle 12545

disappearing dividends 14664

initial public offerings 190217

value of share buybacks 16571

financing startups 205

firewalls 322

fixed rate mortgages 285301

background 285

emergence of fixed mortgages 2869

the future 301

mortgage world before fixed rates 2856

risk management issues 289300

flow of funds 267

Foreign and Colonial Investment Trust 12

Fortune 1000 77

forward exchange 2478

franchise building 380

Freddie Mac 422

free cash flow 130, 154

French Ministry of Industry 65

Friedman, Milton 430

frozen assets 389

FTSE 46

funding gap 4646

fusion 100, 11415

GAAP earnings 358

gambling 432, 4345

game theory 85, 109110, 115

game-playing 402

Gates, Bill 354

Gaussian distributions 280

General Electric 3223

General Motors 31519, 3223

genetically modified seeds 436

geometric premium 27, 31

gilts 290

glamour firms 102

Glaxo-Wellcome 102

global diversification 13, 15, 19

global environment 414

globalization 333

Globana 338

GM see General Motors

going forward 90

going public process 190, 207212

bookbuilding 2089

costs of going public 210212

direct public offerings 212

overallotment options and stabilization 209210

going public as stage in firm's external

financing 2057

financing startups 205

investor relations after going public 207

mechanisms to distinguish among firms 2067

venture capital 2056

gold mining 8

Goldman Sachs 1725, 192, 350, 375

Google 21828

“Are you about to get Googled?” 21820

“Bowling for Google” 2256

“Google's earnings more than double 1st quarterly results as public firm strong” 2223

“Google's rising share price is cold comfort for investors” 2278

“How high can Google fly?” 2234

“Ignore Wall St's whining – Google's IPO worked” 22022

“Google's earnings more than double 1st quarterly results as public firm strong” 2223

“Google's rising share price is cold comfort for investors” 2278

governance and ethics 407466

controversy incorporated 43038

rebalancing the scorecard 41120

stakeholder capitalism 4216

Great Depression 114, 148

greed 109, 415, 435

Green Shoe option 209

Greenpeace 437

growth options 129

Hamel, Gary 354

hedge accounting 300

hedging to variable rate 28991

heuristics 43, 879

development of 879

historical equity risk premium see equity risk premium

Hoechst Roussel-Marion Merrel Dow 102

Hoechst-Rhone Poulenc 98

“hot issue” markets 200201

household budget 44

“How high can Google fly?” 2234

HRRO see historical rate rollover

human nature 414

human rights 433

human trafficking 434

Hutton, Will 4219

Ibbotson Associates 278, 38

IFRSs see international financial reporting standards

“Ignore Wall St's whining – Google's IPO worked” 22022

illiquidity 296, 302

implied volatility 2823

impresario hypothesis 204

in-the-money 78, 251, 255

incurred costs 387

inflation 49

information asymmetries 191, 267

information costs 13032, 1368

debt maturity and priority 138

evidence for capital structure 1368

leverage 1368

pecking order 1312

signaling 13031

inherited causes of common diseases 433

initial public offerings 190217

contractual forms and going public process 207212

going public as a life cycle stage in firm's external financing 2057

“hot issue” markets 200201

introduction 19091

long-run performance 2015

new issues underpricing 193200

valuing IPOs 1913

innovation and mergers and MNEs 98117

intangible assets 3745

integrated design 104

integrating technologies 1047

integration 49

integration of stocks and flows 1412

Intel 1834, 379

interest rate risk 28991

internal process strategy map 380

Internal Revenue Service 55

International Accounting Standard 39, 299300

international diversification pre-WWI 524

defining risk and return 67

diversification in practice 1920

early diversification strategies 912

international investment 79

managing risk 7

“scientific” approach to diversification 1219

international financial reporting standards 285, 299300

international investment 79

International Swaps and Derivatives Association 306

Internet bubble 8081

interview with Microsoft's CEO 43946

intrinsic value 578, 1657

and EPS 1657

investment 59120

mergers, MNEs and innovation 98117

realizing the potential of real options 7692

why bad projects are hard to kill 6375

investment canons 7

Investment as Exact Science 13

Investment Registry 20

IPOs see initial public offerings

irrational behavior 53

ISDA see International Swaps and Derivatives Association

Jaguar 242

journey to junk 31519

JP Morgan 266, 281, 306

Kaplan, Robert 354, 37391, 416

key performance indicator scorecards 3824

killer apps 7980

killing off bad projects 6375

Kodak 242

Komatsu 241

KPI scorecards see key performance indicator scorecards

Lafarge 6474

law of small numbers 44

lawsuit avoidance hypothesis on new issues underpricing 198

leadership and governance 4378

learning by numbers 3436

learning curve 1089

learning and growth strategy map 38082

learning to live with fixed rate mortgages 285301

learning to work with stakeholders 436

leaving money on the table 199200

Leeson, Nick 26970, 273

legally contestable markets 4345

leverage ratios 1324, 167

taxes shield value 167

leverage regression 1334

Libor 2912

licence fees 337

limits to arbitrage 42, 457, 53

lobbyists 431

London Business School 112

London Stock Exchange 8, 11, 425, 555

Long Term Capital Management 46

long-run performance 2015

divergence of opinion hypothesis 204

evidence on 2014

impresario hypothesis 204

windows of opportunity hypothesis 2045

long-term view of market design 4356

loss reduction 286

losses revealed 2556

low frequency misvaluations 50

low-hanging fruit theory 35572

lower propensity to pay 14664

LTCM see Long Term Capital Management Ludwig report 250, 252, 2568

“M&A learning curve” 99

McDonald's 2412, 379, 437

McDonnell Douglas 241

major participants in credit derivatives market 3046

Malcolm Baldrige award 383

managerial behavior 857

refining models of perfection 824

splitting options 845

valuing and managing the firm 8990

managing the firm 8990

managing real options 934

managing risk 7

market design 4356

markets deviation 523

irrational behavior 53

limits to arbitrage in financial markets 53

systematic patterns of behavior 53

market implosion 104

market over-reaction 35572

literature review 35860

research methodology 363

results 3638

sample selection 36062

sensitivity 3689

summary 36970

market saturation 360

market share and mergers 1023

market-to-book ratios 1336, 146, 1523, 202

markets

deviation of 523

and fundamentals 567

Markowitz diversification 6

Markowitz optimization 6, 13, 19

maxi-hedge 299

maximum reasonable loss 263

measures of financial performance 34754

measuring operating exposure 2424

bottom-up estimates 243

top-down estimates 244

measuring performance 327–406

accounting standards 3336

EVA implementation and market over-reaction 35572

performance indicators 392–406

a star to sail by? 34754

transforming the balanced scorecard 37391

mechanics of going public 1912

mechanisms to distinguish among firms 2067

megabid mania 110

men and overconfidence 44

mental accounting 44

merchant bank archives 20

Merck 2412

merger enigma 99

merger insiders 110

merger performance research 100104

mergers and acquisitions

explanation of poor performance building on game theory 109110

impact on innovation 11114

increasing importance of corporate finance industry 110111

poor performance 108111

positive merger learning curve 1089

merger performance 100104

difficult trade-off between cost-cutting and revenue-enhancement 1034

disappointing results of stock market and accounting studies 1012

mergers and market share – adding to the bleak picture 1023

mergers and innovation 98117

introduction 98100

micro-merger SNAFUs 1047

need for expanded research agenda 11114

performance so poor, deals so many 108111

research on merger performance 100104

underestimated problem of integrating technologies 1047

Merrill Lynch 192, 255, 318, 412

meso-oriented approach 113

Metallgesellschaft 2723

Metropolitan Life 10

micro-merger problems 115

micro-merger SNAFUs 1047

opportunity costs and diversion of innovative energy 107

protracted technical integration problems as ABB 1056

Microsoft 140, 354, 43946

Miles report 285, 2978, 301

Milken, Michael 433

mini-hedge 299

misaligned incentives 86

Mississippi Bridge 8

mitigation of risk 2912, 306, 310, 364

MNEs and innovation 98117

Mobil 170

Mobil North America 3812

model dredging 45

model misbehavior 4289

see also state capitalism; state of denial

modeling managerial behavior 857

models of perfection 824

modification of BSC architecture 3858

Modigliani-Cohn hypothesis 49

modularity 78

momentum 534

money left on the table 199200

monitoring structure of Italian listed companies 45054

role of board of statutory auditors 4512

role of external auditing board 4524

Monte Carlo simulation 84, 253, 283

Moody's 316, 31926

Morgan Stanley 111, 174

mortality rates 44

mortgages

world before fixed rates 2856

moving average volatility 281

moving from public to private sector 4334

naïve diversification 6, 19, 22

NASD see National Association of Securities Dealers

Nasdaq 46, 1468, 150, 152, 158, 191

National Association of Securities Dealers 212

National Securities Markets Improvements Act 1966 191

Nationwide Building Society 297

natural oligopoly 326

nature of competitive organizations 41415

net income 3345

Netscape 199200

new economy bubble 336

New Groschen Consols 8

new issues underpricing 193200

issuers leaving money on the table 199200

market feedback hypothesis 197

reasons for new issues underpricing 1969

signaling hypothesis 1989

summary of explanations 199

new technology exploitation 4323

noise-trader risk 53, 56

nominal exchange rate 234

non-debt tax shields 139

non-Gaussian distributions 274

Norton, David 354, 37391, 416

NYSE 1468, 150, 152, 158, 191

OCIP see Orange County

1/N rule 43

OPEC see Organization of Petroleum Exporting Countries

operating exposure 23345

bottom-up measurement 243

exchange rate environment 234

measuring operating exposure 2420 244

understanding operating exposure 23442

operating profitably 4358

operational excellence 380

opportunity costs 107

optimal capital structure 125

optimal deviation 137

options 248

options of splitting 845

Orange County 27071

organic growers 102

Organization of Petroleum Exporting Countries 169

out-of-pocket transaction costs 142

out-of-the-money 78, 95, 249

over-lay manager 268

overallotment options 209210

see also stabilization

overconfidence 434

overinvestment 12930

ownership dispersion hypothesis on new issues underpricing 199

ownership of Italian listed companies 44550

ownership of performance indicators 396

Palm 545

paper losses and paper gains 45

Parmalat 44765

parsimony 394

partial adjustment phenomenon 199

patent regulation 85

path of least resistance 126

peak-period surcharges 44

pecking order theory 126, 1312, 1368, 14041

Penny Stock Reform Act 1990 193

pension plans 274, 431

perfection models 824

performance indicators 392–406

accountability and politics 3956

appropriate number of 394

communication 400

concept of 3936

development time 399

implementation 399401

inclusion of all integral elements 3934

interpretation of 402

introduction period 401

link to existing systems 399400

perceived injustices in 3978

preparation 3969

provision of adequate safeguards 3945

proxies 400401

uncontrollable items 3978

use 4015

performance metrics 347

Pernod Ricard 118

persistent mispricing 546

petroleum futures 834

Pharmacia-Upjohn 102, 113

picking the low-hanging fruit 357, 3678, 370

Porritt, Jonathon 437

Porter, Michael 3845

portfolio approach to declining incidence of dividends 15760

positive merger learning curve 1089

Powergen 937

PPP see purchasing power parity

prepayment risks 2947

press cuttings about Google 21828

price of risk 37

Pride and Prejudice 6

prime brokerage accounts 2523

prior year adjustments 33742

acquisition of Ashford Group 339

acquisition of Globana 338

bonuses recapitalized 340

company balance sheet 3412

deferred revenue expenditure 339

depreciation and repairs and maintenance expenditure 338

exchange rates 340

hotel sale and leaseback transactions 3378

licence fees 337

loan finance costs 339

office properties held under finance leases 338

other changes 340

profit on disposal of fixed assets 33940

rationalization costs 339

reclassifications 34041

sale and repurchase of land 340

Prison Service 393

privatization of education 433

probability level 275

problem of underinvestment 129

process of going public process 207212

Procter & Gamble 2689, 347

productivity 379

profitability 15052

project champion 7071, 734

projects 6375

avoiding dangers of blind faith 724

faith that wouldn't be shattered 646

propensity to pay dividends 15460

behavior of dividend payers versus non-payers 1557

portfolio approach to explain declining incidence of dividends 15760

proper division of risk 11

prospect theory 49

prospective equity risk premium 32

protection buyer 302

protection seller 302

proxies 400401

psychological biases 42

public education in the USA 433

purchasing power parity 234

“pure-play” investments 84, 193

put buyer 304

put seller 304

quality 3945

Queens Moat Houses plc 33742

prior year adjustments and reclassifications 33742

questionable accounting 41120

Railtrack 436

rating the raters 32026

a natural oligopoly 326

step by step 3223

under-rated? 3246

we're not watchdogs 324

ratings industry 3246

ratios 3345

RCA's SelectaVision 63, 74

real estate 43

real estate investment trusts 191

real options 7697

best practice in managing real options 934

bridging gap between theory and practice 8290

going forward 90

how BP maximizes oilfield value 946

new insights and new vocabulary 779

power master-stroke by Powergen 967

real options in the crosshairs 8082

realizing potential of 7692

search for killers apps 7980

realism 126

reasons for new issues underpricing 1969

bandwagon hypothesis 1978

investment banker's monopsony power hypothesis 198

lawsuit avoidance hypothesis 198

market feedback hypothesis 197

ownership dispersion hypothesis 199

signaling hypothesis 1989

summary of explanations of new issues underpricing 199

winner's curse hypothesis 1967

reassessing internal and external relationships 401

rebalancing act 41718

additional possible perspectives 418

from strategy and responsibility to the bottom line 418

rebalancing the scorecard 41120

corrective actions taken so far 41213

implications 41920

rebalancing act 41718

rebalancing the scorecard 41617

social responsibility issues 419

some causes of such behaviors 41315

what gets measured gets done 416

reclassifications 33742

company balance sheet 3412

deferred tax write back 341

finance lease creditors 341

non-hotel properties 341

prior year adjustments 33740

stocks 340

telephone revenue 341

recognition of trade-offs 4034

reference asset 302

refining models of perfection 824

reflection of managers' efforts 397

Reform Act 9

regulatory arbitrage 306311

REITs see real estate investment trusts

reliance on buyback schemes 17983

relocation 335

rentiers 6

response time 4045

return

definition of 67

Reuters 254, 281

revenue growth 379

revenue-enhancement 1034

reverse LBOs 202

revision of performance indicators 399

risk

definition of 67

risk allocation 435

risk horizon 2645

risk management 229326

credit derivatives 302314

currency exchange trading 24662

fixed rate mortgages 285301

issues 289300

iterative approach 285301

operating exposure 23345

value at risk 26384

risk metrics 2812

risk premium 345

risk-based capital allocation 2734

RiskMetrics(tm) 2812

road show 192

robustness 135

Roche-Syntex 102

Rock Life 10

rogue trading 24662

role of exit champion 734

Rothschild & Co. 2021

Royal Dutch/Shell 467, 556

Rusnak, John 24662

S&P 500 42, 46

Saab 107

sacred cows 3345

sales and hedging mismatches 2924

salience effect 45

Sarbanes-Oxley Act 413, 445

Scania 102, 106

“scientific” approach to diversification 1219

Sciona 1869

about Sciona 189

funding history 1867

observations of venture capital experience 1879

venture capital companies 187

scorecard rebalancing 41617

Scottish Power 118, 120

search for killer apps 7980

Sears 383

seasoned equity offerings 160, 193

SEC see Securities and Exchange Commission

Securities Act 1933 191, 198

Securities and Exchange Commission 191

seductive appeal of collective belief 6872

seed money 186, 189

segregation 49

SelectaVision see RCA's SelectaVision

selective risk management 2678

sending signals 16770

senior debt 138

September 11, 2001 37

SERPS scheme 426

share buyback value 16571

share repurchases 16062, 357

shareholder pressure to conduct buybacks 1845

Shell see Royal Dutch/Shell

short-termism 333

shortfall risk 2745

Siemens 347, 354

signaling 13031, 1367, 140, 177

effects 126

Silicon Valley 44

small-cap stock 202

SmithKline-Beecham 102

social assets 4367

social responsibility issues 419, 430

societal climate 414

“soft” indicators 3945

Sony 379

speculating 272

splitting options 845

spot exchange 247

stabilization 209210

see also overallotment options

stakeholder capitalism 347, 4216

stakeholder scorecards 3824

startup financing 205

state of denial 4279

British capitalism 4278

model misbehavior 4289

step-by-step rating 3223

“sticky” nature of dividends 364

stock of assets 267

stock and flow integration 1412

stock market and accounting study results 1012

stop-loss limit 254

strategy maps 37882

customer perspective 37980

financial perspective 379

internal process perspective 380

learning and growth perspective 38082

strength of information signals 45

stress 190

sunflower seeds 436

support legitimation 388

survival probabilities 44

survivor bias 312

swap transactions 248

synergy 101, 103, 1079, 11819

systematic patterns of behavior 53

t-statistic 133, 135

taxes 128, 1389

evidence for capital structure 1389

taxes shield value from leverage 167

technological relentlessness 70

technology 2589

burst of bubble 246

theories on capital structure 12732

contracting costs 12830

information costs 13032

taxes 128

theory of low-hanging fruit 35572

theory meeting practice 7692

Three per cent Consols 8, 1112

3Com 545

time trends in cash dividends 14750

top-down approach to portfolio construction 13

top-down estimates of operating exposure 244

total risk management 2678

total-rate-of-return swaps 3023

total-return buyer 3023

total-return seller 302

toward unified theory of corporate financial policy 13942

integration of stocks and flows 1412

trade currents 15

trade-off between cost-cutting and revenue-enhancement 1034

trading strategy of John Rusnak 24951

transforming balanced scorecard 37391

Treasury bills 3032

tree-based game theory 85

trends in finance theory 158

behavioral finance 4251

international diversification pre-WWI 524

TRORSs see total-rate-of-return swaps

trustworthy data for performance indicators 4012

Turkish Six per Cents 1112

types of credit derivative 3024

tyranny of indexing 42

tyranny of net income and ratios 3345

UK benchmark APCIMS index 19

uncertainty 80, 93, 112

underestimated problem of integrating technologies 1047

underinvestment 129

underpricing, dollar amount of 199200

underpricing new issues193200

understanding operating exposure 23442

understanding social assets 4367

underwriter compensation 212

unified corporate financial policy 13942

Unilever 55

unlikely alliances 431

unseasoned security offerings 193

U.S. Food and Drug Administration 656

use of credit derivatives 306311

potential risks associated with credit derivatives 309311

use of performance indicators 4015

aggregation and response time 4045

importance of feedback 403

interpretation 402

trade-offs and complex interactions 4034

trustworthy data 4012

uses and abuses of value at risk 26384

uses of VAR 266

using experience of other organizations 398

valuation vs. value creation 3745

value at risk 26384

abnormal returns and risk-based capital allocation 2734

alternatives to VAR 2735

calculating VAR 2534, 27983

cash flow risk 273

computing volatility inputs 2813

corporate risk management objectives 2668

definition of 2636

development of 2645

implementation of 2656

non-dealer uses of 266

non-variance calculation methods 283

shortfall risk 2745

VAR and corporate risk management

objectives 2668

VAR and the great derivatives disasters 26873

uses of VAR 266

variance-based approaches 28081

what is VAR? 2636

value creation 3878

value destroyer 348

value for money 35054

value risk managers and VAR-based risk controls 267

value of share buybacks 16571

EPS and intrinsic value 1657

sending signals 16770

taxes shield value from leverage 167

value-based management 351

valuing the firm 8990

valuing IPOs 1913

mechanics of going public 1912

valuing IPOs 1923

VAR see value at risk

VAR and corporate risk management objectives 2668

total vs. selective risk management 2678

value risk managers and VAR-based risk controls 267

VAR-based risk controls 267

variance-based VAR calculation methods 28081

variation in risk premiums over time 313

imprecise estimates 33

Varilux 64, 66, 72

venture capital 1869, 2056

experience 1879

issues arising during funding 188

search for venture capital 1889

what are VC companies looking for? 188

viability 74

Vodafone-Mannesmann 98

volatility debate 3356

volatility inputs 2813

conditionals variance models 282

implied volatility 2823

moving average volatility 281

risk metrics 2812

Volkswagen 402

Volvo 102, 106

Von-Neumann-Morgenstern expected utility theory 42

warning flags 72

watchdogs 324

weight of information signals 45

why bad projects are hard to kill off 6375

windows of opportunity hypothesis 2045

winner's curse hypothesis on new issues underpricing 1967

“Women as Investors” 13

women and overconfidence 44

working with stakeholders 436

World Bank 433

World Investment Report 109

World War II 36

Yahoo! 42

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