{"product_id":"equity-markets-valuation-and-analysis-isbn-9781119632931","title":"Equity Markets, Valuation, and Analysis","description":"\u003cp\u003e\u003cb\u003eSharpen your understanding of the financial markets with this incisive volume\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eEquity Markets, Valuation, and Analysis\u003c\/i\u003e brings together many of the leading practitioner and academic voices in finance to produce a comprehensive and empirical examination of equity markets.\u003c\/p\u003e \u003cp\u003eMasterfully written and edited by experts in the field, \u003ci\u003eEquity Markets, Valuation, and Analysis\u003c\/i\u003e introduces the basic concepts and applications that govern the area before moving on to increasingly intricate treatments of sub-fields and market trends. The book includes in-depth coverage of subjects including:\u003c\/p\u003e \u003cp\u003e· The latest trends and research from across the globe\u003c\/p\u003e \u003cp\u003e· The controversial issues facing the field of valuation and the future outlook for the field\u003c\/p\u003e \u003cp\u003e· Empirical evidence and research on equity markets\u003c\/p\u003e \u003cp\u003e· How investment professionals analyze and manage equity portfolios\u003c\/p\u003e \u003cp\u003eThis book balances its comprehensive discussion of the empirical foundations of equity markets with the perspectives of financial experts. It is ideal for professional investors, financial analysts, and undergraduate and graduate students in finance.\u003c\/p\u003e \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003eAbout the Editors xv\u003c\/p\u003e \u003cp\u003eAbout the Chapter Authors xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Equity Markets, Valuation, and Analysis: An Overview 1\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eH. Kent Baker, Greg Filbeck and Halil Kiymaz\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003eAbout This Book 3\u003c\/p\u003e \u003cp\u003eStructure of the Book 5\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 12\u003c\/p\u003e \u003cp\u003eReferences 13\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One Background\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Ownership Structure and Stock Classes 17\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eChristopher J. Barnes, Ehsan Nikbakht and Andrew C. Spieler\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 17\u003c\/p\u003e \u003cp\u003eSingle-Class Common Equity 18\u003c\/p\u003e \u003cp\u003eDual-Class Common Equity 26\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 29\u003c\/p\u003e \u003cp\u003eDiscussion Questions 29\u003c\/p\u003e \u003cp\u003eReferences 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Equity Markets and Performance 33\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJay T. Brandi and Xudong Fu\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 33\u003c\/p\u003e \u003cp\u003eThe Equity Market and the Economy 35\u003c\/p\u003e \u003cp\u003eMarket Indicators 39\u003c\/p\u003e \u003cp\u003eGood Markets – Liquidity 40\u003c\/p\u003e \u003cp\u003eGood Markets – Efficiency 41\u003c\/p\u003e \u003cp\u003eInformation Disclosure 43\u003c\/p\u003e \u003cp\u003eEnforcement 43\u003c\/p\u003e \u003cp\u003eMonetary Policies 44\u003c\/p\u003e \u003cp\u003eInvestments: Comparative Risk and Return 44\u003c\/p\u003e \u003cp\u003eStocks Versus Bonds: The Issuer’s Perspective 47\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 48\u003c\/p\u003e \u003cp\u003eDiscussion Questions 48\u003c\/p\u003e \u003cp\u003eReferences 48\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Securities Regulation 51\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eDouglas Cumming and Sofia Johan\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 51\u003c\/p\u003e \u003cp\u003eTrading Rules and Rules Pertaining to Broker-Dealer Conduct 52\u003c\/p\u003e \u003cp\u003eSurveillance 58\u003c\/p\u003e \u003cp\u003eEnforcement 59\u003c\/p\u003e \u003cp\u003eImpact of Trading Rules and Surveillance on Corporate Outcomes 59\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 60\u003c\/p\u003e \u003cp\u003eDiscussion Questions 61\u003c\/p\u003e \u003cp\u003eReferences 61\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Investor Psychology and Equity Market Anomalies 63\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eHunter M. Holzhauer\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 63\u003c\/p\u003e \u003cp\u003eInvestor Psychology: Bounded Rationality 64\u003c\/p\u003e \u003cp\u003eInvestor Psychology: Prospect Theory 65\u003c\/p\u003e \u003cp\u003eEquity Market Anomalies: Violations of the EMH 67\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 73\u003c\/p\u003e \u003cp\u003eDiscussion Questions 74\u003c\/p\u003e \u003cp\u003eReferences 74\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two Valuation and Analysis\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Financial Statement Analysis and Forecasting 81\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eSomnath Das and Shailendra Pandit\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 81\u003c\/p\u003e \u003cp\u003eBackground 82\u003c\/p\u003e \u003cp\u003eTechnical Analysis–Based Forecasting 83\u003c\/p\u003e \u003cp\u003eTime Series–Based Forecasting 83\u003c\/p\u003e \u003cp\u003eFundamental Analysis–Based Forecasting 85\u003c\/p\u003e \u003cp\u003eProcess of Analyzing Financial Statements 85\u003c\/p\u003e \u003cp\u003eEvidence on the Usefulness of Financial Statement Analysis 86\u003c\/p\u003e \u003cp\u003eSecurity Analysts and Financial Statement Analysis 88\u003c\/p\u003e \u003cp\u003eLimitations of Using Financial Statement Analysis in Forecasting 90\u003c\/p\u003e \u003cp\u003eSummary and Conclusion 91\u003c\/p\u003e \u003cp\u003eDiscussion Questions 92\u003c\/p\u003e \u003cp\u003eReferences 92\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Fundamentals of Equity Valuation 97\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eEmmanuel Boutron, Alain Coën and Didier Folus\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 97\u003c\/p\u003e \u003cp\u003eWhat is Equity Valuation? 97\u003c\/p\u003e \u003cp\u003eFree Cash Flow–Based Valuation 101\u003c\/p\u003e \u003cp\u003eDividend-Based Valuation 104\u003c\/p\u003e \u003cp\u003eMarket-Based Valuation: Multiples and Ratios 106\u003c\/p\u003e \u003cp\u003eModeling the Required Asset Return 108\u003c\/p\u003e \u003cp\u003eOption Theory–Based Valuation 110\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 111\u003c\/p\u003e \u003cp\u003eDiscussion Questions 111\u003c\/p\u003e \u003cp\u003eReferences 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Company Analysis 113\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eDavid Craig Nichols\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 113\u003c\/p\u003e \u003cp\u003eThree Steps Linking Business Activities to Equity Prices 113\u003c\/p\u003e \u003cp\u003eAccounting Analysis 117\u003c\/p\u003e \u003cp\u003eFundamental Analysis 119\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 127\u003c\/p\u003e \u003cp\u003eDiscussion Questions 127\u003c\/p\u003e \u003cp\u003eReferences 127\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Technical Analysis 131\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eDavid Lundgren\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 131\u003c\/p\u003e \u003cp\u003eBackground 131\u003c\/p\u003e \u003cp\u003ePulling It All Together: Fundamentals, Biases, and Trends 138\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 145\u003c\/p\u003e \u003cp\u003eDiscussion Questions 146\u003c\/p\u003e \u003cp\u003eReferences 146\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Discounted Dividend Valuation 149\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eElif Akben-Selçuk\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 149\u003c\/p\u003e \u003cp\u003eThe General Model 149\u003c\/p\u003e \u003cp\u003eConstant Growth or Gordon Model 150\u003c\/p\u003e \u003cp\u003eMultistage Models 151\u003c\/p\u003e \u003cp\u003eStochastic Models 155\u003c\/p\u003e \u003cp\u003eUses of Ddms 158\u003c\/p\u003e \u003cp\u003eEmpirical Tests of the Dividend Discount Model 160\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 161\u003c\/p\u003e \u003cp\u003eDiscussion Questions 162\u003c\/p\u003e \u003cp\u003eReferences 162\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Free Cash Flow Valuation 165\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eTom Barkley\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 165\u003c\/p\u003e \u003cp\u003eGeneral Approach to FCF Analysis 166\u003c\/p\u003e \u003cp\u003eFour Special Cases of FCF Valuation Approaches 170\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 181\u003c\/p\u003e \u003cp\u003eDiscussion Questions 182\u003c\/p\u003e \u003cp\u003eReferences 182\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Market-based Valuation 185\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eSang Hoon Lee\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 185\u003c\/p\u003e \u003cp\u003eWidely Used Valuation Multiples and Valuation Steps 186\u003c\/p\u003e \u003cp\u003eSelecting Comparable Firms 190\u003c\/p\u003e \u003cp\u003eThe Efficacy of Different Multiples in Valuation 191\u003c\/p\u003e \u003cp\u003eCommon Factors Determining Different Multiples 195\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 199\u003c\/p\u003e \u003cp\u003eDiscussion Questions 199\u003c\/p\u003e \u003cp\u003eReferences 199\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Residual Income Valuation 201\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eShailendra Pandit and Somnath Das\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 201\u003c\/p\u003e \u003cp\u003eHistory and Foundations of Residual Income 201\u003c\/p\u003e \u003cp\u003eComputing Residual Income 203\u003c\/p\u003e \u003cp\u003eEquity Valuation Using Residual Income 205\u003c\/p\u003e \u003cp\u003eNumerical Example 206\u003c\/p\u003e \u003cp\u003eApplying RI to Equity Valuation 207\u003c\/p\u003e \u003cp\u003eEvaluation and Critique of Residual Income 208\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 211\u003c\/p\u003e \u003cp\u003eDiscussion Questions 212\u003c\/p\u003e \u003cp\u003eReferences 212\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Private Company Valuation 215\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eOnur Bayar and Yini Liu\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 215\u003c\/p\u003e \u003cp\u003eDCF Valuation Methods for Private Companies 216\u003c\/p\u003e \u003cp\u003eThe Comparable Firms Approach in Private Company Valuation 220\u003c\/p\u003e \u003cp\u003eThe Venture Capital Method for High-Growth Private Companies 224\u003c\/p\u003e \u003cp\u003eOption Valuation for Private Companies 226\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 227\u003c\/p\u003e \u003cp\u003eDiscussion Questions 227\u003c\/p\u003e \u003cp\u003eReferences 228\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three Equity Investment Models and Strategies\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Equity Investing Strategies 231\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eNicholas Biasi, Andrew C. Spieler and Raisa Varejao\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 231\u003c\/p\u003e \u003cp\u003eValue Investing 232\u003c\/p\u003e \u003cp\u003eGrowth Investing 233\u003c\/p\u003e \u003cp\u003eGrowth at a Reasonable Price 235\u003c\/p\u003e \u003cp\u003eIncome Investing 236\u003c\/p\u003e \u003cp\u003eIndex Investing 236\u003c\/p\u003e \u003cp\u003eQuantitative Trading 237\u003c\/p\u003e \u003cp\u003eTechnical Analysis 238\u003c\/p\u003e \u003cp\u003eOptions Strategies 239\u003c\/p\u003e \u003cp\u003eESG Investing 240\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 241\u003c\/p\u003e \u003cp\u003eDiscussion Questions 242\u003c\/p\u003e \u003cp\u003eReferences 242\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Factor Investing 243\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eAaron Filbeck\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 243\u003c\/p\u003e \u003cp\u003eHistory 243\u003c\/p\u003e \u003cp\u003eFactors of Prominence 246\u003c\/p\u003e \u003cp\u003eRecent Factor Discoveries 253\u003c\/p\u003e \u003cp\u003ePortfolio Implementation Considerations 256\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 259\u003c\/p\u003e \u003cp\u003eDiscussion Questions 260\u003c\/p\u003e \u003cp\u003eReferences 260\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Smart Beta Strategies versus Alpha Strategies 263\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eTimoathy A. Krause\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 263\u003c\/p\u003e \u003cp\u003eWhat is Smart Beta? 265\u003c\/p\u003e \u003cp\u003eEmpirical Evidence from Factor Investing and Smart Beta Studies 267\u003c\/p\u003e \u003cp\u003eRecent Empirical Evidence from the U.S. ETF Market 271\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 274\u003c\/p\u003e \u003cp\u003eDiscussion Questions 274\u003c\/p\u003e \u003cp\u003eReferences 274\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Activist and Impact Investing 279\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eMichael Sinodinos, Andrew Siwo and Andrew C. Spieler\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 279\u003c\/p\u003e \u003cp\u003eMethods of Activism 280\u003c\/p\u003e \u003cp\u003eInstitutional Activists 281\u003c\/p\u003e \u003cp\u003eIndividual Activists 283\u003c\/p\u003e \u003cp\u003eImpact Investing 284\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 289\u003c\/p\u003e \u003cp\u003eDiscussion Questions 289\u003c\/p\u003e \u003cp\u003eReferences 289\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Socially Responsible Investing 291\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eRandolph D. Nordby\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 291\u003c\/p\u003e \u003cp\u003eA Brief History of SRI in the United States 292\u003c\/p\u003e \u003cp\u003eESG Growth in Pooled Investment Vehicles 293\u003c\/p\u003e \u003cp\u003eResponsible Investing Growth by Institutional Investors 294\u003c\/p\u003e \u003cp\u003eThe Performance of Sustainable Investments 294\u003c\/p\u003e \u003cp\u003eLack of Guidelines on Voluntary Nonfinancial Disclosure 296\u003c\/p\u003e \u003cp\u003eESG Disclosure and Asset Manager Valuation Methodology 296\u003c\/p\u003e \u003cp\u003eESG Disclosure Lacks Usefulness 297\u003c\/p\u003e \u003cp\u003eMethods for Operationalizing ESG Issues 297\u003c\/p\u003e \u003cp\u003eFiduciary Duty and ESG Investing 299\u003c\/p\u003e \u003cp\u003eESG Integration for Equities 300\u003c\/p\u003e \u003cp\u003eConsiderations for Integrating ESG 300\u003c\/p\u003e \u003cp\u003eCase Study 301\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 302\u003c\/p\u003e \u003cp\u003eDiscussion Questions 302\u003c\/p\u003e \u003cp\u003eReferences 303\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 Pooled Investment Vehicles 305\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eJoseph McBride, Michael Pain and Andrew C. Spieler\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 305\u003c\/p\u003e \u003cp\u003eOpen-End Mutual Funds 305\u003c\/p\u003e \u003cp\u003eClosed-End Funds 309\u003c\/p\u003e \u003cp\u003eUnit Investment Trusts 311\u003c\/p\u003e \u003cp\u003eExchange-Traded Funds 313\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 316\u003c\/p\u003e \u003cp\u003eDiscussion Questions 317\u003c\/p\u003e \u003cp\u003eReferences 317\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Four Special Equity Topics\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 Investing in Private Equity 321\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eGaurav Gupta, Tianqi Jiang and Zhao Wang\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 321\u003c\/p\u003e \u003cp\u003ePerformance of PE Funds 322\u003c\/p\u003e \u003cp\u003ePerformance Persistence 324\u003c\/p\u003e \u003cp\u003eFactors Driving PE Performance 325\u003c\/p\u003e \u003cp\u003eRisk Factors of PE Funds 327\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 329\u003c\/p\u003e \u003cp\u003eDiscussion Questions 329\u003c\/p\u003e \u003cp\u003eReferences 330\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 Investing in Emerging Markets 333\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eXiaohua Diao, Shantanu Dutta and Peng Cheng Zhu\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 333\u003c\/p\u003e \u003cp\u003eCapital Flows to Emerging Markets 334\u003c\/p\u003e \u003cp\u003eIssues Related to Capital Market Integration 334\u003c\/p\u003e \u003cp\u003eInstitutional Strategies for Better Investment Decisions 336\u003c\/p\u003e \u003cp\u003ePolitical Connections, Investment Decisions, and Performance 338\u003c\/p\u003e \u003cp\u003eCorporate Governance and Performance 340\u003c\/p\u003e \u003cp\u003eValuation Practices in Emerging Markets 340\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 341\u003c\/p\u003e \u003cp\u003eDiscussion Questions 342\u003c\/p\u003e \u003cp\u003eReferences 342\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 23 Disclosure Regulations in Emerging Economies and Their Impact onEquity Markets 347\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eXiaohua Diao, Shantanu Dutta and Peng Cheng Zhu\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 347\u003c\/p\u003e \u003cp\u003eVarious Disclosure Regulation Approaches 348\u003c\/p\u003e \u003cp\u003eEnvironmental and CSR Disclosure in Emerging Markets 349\u003c\/p\u003e \u003cp\u003eInsider Trading, Disclosures, and Related Regulation 351\u003c\/p\u003e \u003cp\u003eInformation Disclosure Through Private In-House Meetings 354\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 356\u003c\/p\u003e \u003cp\u003eDiscussion Questions 357\u003c\/p\u003e \u003cp\u003eReferences 357\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 24 Equity Crowdfunding Investments 361\u003cbr\u003e\u003c\/b\u003e\u003ci\u003eDianna Preece\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 361\u003c\/p\u003e \u003cp\u003eTypes of Crowdfunding 361\u003c\/p\u003e \u003cp\u003eThe Jobs Act of 2012 363\u003c\/p\u003e \u003cp\u003eCrowdfund Investment Opportunities and Incentives 365\u003c\/p\u003e \u003cp\u003eCrowdfund Investment Challenges and Disincentives 366\u003c\/p\u003e \u003cp\u003eAcademic Research 369\u003c\/p\u003e \u003cp\u003eSummary and Conclusions 371\u003c\/p\u003e \u003cp\u003eDiscussion Questions 372\u003c\/p\u003e \u003cp\u003eReferences 372\u003c\/p\u003e \u003cp\u003eDiscussion Questions and Answers (Chapters 2–24) 375\u003c\/p\u003e \u003cp\u003eIndex 407\u003c\/p\u003e  \u003cp\u003e\u003cb\u003e H. KENT BAKER, CFA, CMA,\u003c\/b\u003e is the University Professor of Finance at the Kogod School of Business at American University. Professor Baker is an award-winning author\/editor of 36 books.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eGREG FILBECK, CFA, FRM, CAIA, CIPM, PRM,\u003c\/b\u003e is the Samuel P. Black III Professor of Finance and Risk Management at Penn State Behrend, and serves as the director for the Black School of Business.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eHALIL KIYMAZ, CFA,\u003c\/b\u003e is the Bank of America Professor of Finance at the Crummer Graduate School of Business at Rollins College.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003e\u003ci\u003eEquity Markets, Valuation, and Analysis\u003c\/i\u003e\u003c\/b\u003e brings together a collection of writings exploring the basic concepts of equity markets and offering a review of more intricate treatments of sub-fields and recent market trends. Designed to be user-friendly, the book presents a review of equity market theory in clear and concise language, explains quantitative techniques in basic mathematical terms, and describes conventions at a practical level of detail. The authors also reveal how successful investment professionals analyze and manage equity portfolios. \u003c\/p\u003e\u003cp\u003eDrawing on the rich and varied expertise of the contributors, the book examines this broad, complex, and competitive field and contains information on many of the most important topics in equity markets. The authors explore a range of issues including securities regulation, investor psychology, as well as free cash flow, market-based, residual income, and private company valuations. The book also reviews a range of equity investment models and strategies and includes information on investing in emerging markets and crowdfunding investments. \u003c\/p\u003e\u003cp\u003eSolidly based in research, \u003ci\u003eEquity Markets, Valuation, and Analysis\u003c\/i\u003e reflects the most recent trends in a global context, reviews controversial issues, and provides a future outlook of the field. Although the book consists of a wide-range of contributions from leading academics and professionals in the field, the editors have created a volume that flows seamlessly from chapter to chapter. To reinforce the material presented, each chapter contains four to six discussion questions that highlight key concepts. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eEquity Markets, Valuation, and Analysis\u003c\/i\u003e is well-balanced to offer an in-depth discussion of the empirical foundation of equity markets with the insights from an international panel of experts.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePRAISE FOR EQUITY MARKETS, VALUATION, AND ANALYSIS\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"The book brilliantly takes the reader from basic equity market and valuation concepts to applications in complex real-world situations. By integrating theory, evidence, and practice, the authors give a fresh look at this fascinating topic.\"\u003cbr\u003e \u003cb\u003e—John Nofsinger, Seward Chair in International Finance, University of Alaska Anchorage\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eEquity Markets, Valuation, and Analysis\u003c\/i\u003e provides an in-depth treatment of many highly-relevant topics. It is a must-read for anyone who wants to better understand stocks and the stock market, as well as individuals who are preparing for careers in money management. It will be one volume on everyone's bookshelf that gets read and re-read over the years.\"\u003cbr\u003e \u003cb\u003e—Robert A. Weigand, Principal, Financial Analytics, LLC; author, \u003ci\u003eApplied Equity Analysis and Portfolio Management\u003c\/i\u003e\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"The most comprehensive book on equity markets valuation. This book helps you grow your investing skills and profits.\"\u003cbr\u003e \u003cb\u003e—Vesa Puttonen, Professor of Finance, Aalto University School of Business\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\"\u003ci\u003eEquity Markets, Valuation, and Analysis\u003c\/i\u003e is a welcome book and is a must-read for students and academics, as well as practitioners. It deserves attention for anyone who is interested in financial markets.\"\u003cbr\u003e \u003cb\u003e—Adri De Ridder, Senior Lecturer and Associate Professor, Uppsala University, Sweden and University of Groningen, Netherlands\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eWritten for professionals in the field, academics, and students, \u003ci\u003eEquity Markets, Valuation, and Analysis\u003c\/i\u003e\u003c\/b\u003e is a comprehensive volume that serves as an essential guide to help sharpen an understanding of financial markets. This book contains contributions from a world-wide range of professionals and academics who discuss and analyze the results of various studies and frame the results in practical terms. Without relying on unnecessary, complex, and confusing jargon, the authors present equity theory in understandable language.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989152678117,"sku":"NP9781119632931","price":95.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119632931.jpg?v=1761783010","url":"https:\/\/k12savings.com\/es\/products\/equity-markets-valuation-and-analysis-isbn-9781119632931","provider":"K12savings","version":"1.0","type":"link"}