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This book illustrates the application of the economic concept of stochastic dominance to option markets and presents an alternative option pricing paradigm to the prevailing no arbitrage simultaneous equilibrium in the frictionless underlying and option markets. This new methodology was developed primarily by the author, working independently or jointly with other co-authors, over the course of more than thirty years. Among others, it yields the fundamental Black-Scholes-Merton option value when markets are complete, presents a new approach to the pricing of rare event risk, and uncovers option mispricing that leads to tradeable strategies in the presence of transaction costs. In the latter case it shows how a utility-maximizing investor trading in the market and a riskless bond, subject to proportional transaction costs, can increase his/her expected utility by overlaying a zero-net-cost portfolio of options bought at their ask price and written at their bid price, irrespective of the specific form of the utility function. The book contains a unified presentation of these methods and results, making it a highly readable supplement for educators and sophisticated professionals working in the popular field of option pricing. It also features a foreword by George Constantinides, the Leo Melamed Professor of Finance at the Booth School of Business, University of Chicago, USA, who was a co-author in several parts of the book.

Stochastic processes. --- Random processes --- Probabilities --- Capital investments. --- Macroeconomics. --- Investment Appraisal. --- Macroeconomics/Monetary Economics//Financial Economics. --- Economics --- Capital expenditures --- Capital improvements --- Capital spending --- Fixed asset expenditures --- Plant and equipment investments --- Plant investments --- Investments

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What is work? Why do we do it? Since time immemorial the answer to these questions, from both the left and the right, has been that work is both a natural necessity and, barring exploitation, a social good. One might criticise its management, its compensation and who benefits from it the most, but never work itself, never work as such. In this book, Alastair Hemmens seeks to challenge these received ideas. Drawing on the new ‘critique-of-value’ school of Marxian critical theory, Hemmens demonstrates that capitalism and its final crisis cannot be properly understood except in terms of the historically specific and socially destructive character of labour. It is from this radical perspective that Hemmens turns to an innovative critical analysis of the rich history of radical French thinkers who, over the past two centuries, have challenged the labour form head on: from the utopian-socialist Charles Fourier, who called for the abolition of the separation between work and play, and Marx’s wayward son-in-law, Paul Lafargue, who demanded The Right to Laziness (1880), to the father of Surrealism, André Breton, who inaugurated a ‘war on work’, and, of course, the French Situationist, Guy Debord, author of the famous graffito, ‘never work’. Ultimately, Hemmens considers normative changes in attitudes to work since the 1960s and the future of anti-capitalist social movements today. This book will be a crucial point of reference for contemporary debates about labour and the anti-work tradition in France.

French literature --- Study and teaching. --- Literature-Philosophy. --- Literature-History and criticism. --- Literature, Modern-19th century. --- European literature. --- Literary Theory. --- Literary History. --- Nineteenth-Century Literature. --- European Literature. --- European literature --- Literature—Philosophy. --- Literature—History and criticism. --- Literature, Modern—19th century. --- Literature --- Literature, Modern --- Appraisal of books --- Books --- Evaluation of literature --- Criticism --- Literary style --- Literature and philosophy --- Philosophy and literature --- Philosophy. --- History and criticism. --- 19th century. --- Appraisal --- Evaluation --- Theory

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'Performance Management Transformation' takes a practical approach to the current and future state of performance management across the organizational landscape. Case studies from Toyota, Patagonia, Medtronic, GoGo Inflight, and AbbVie, alongside research and commentary by thought leaders in the field, showcase how organizations are taking control and redesigning their performance management processes to address their specific organizational goals, strategies, needs, and preferences.

Employees --- Performance standards. --- Employee motivation. --- Motivation in industry --- Work motivation --- Motivation (Psychology) --- Personnel management --- Psychology, Industrial --- Goal setting in personnel management --- Job performance standards --- Work performance standards --- Work standardization --- Efficiency rating --- Employee appraisal --- Employee rating --- Employees, Rating of --- Performance appraisal of employees --- Performance evaluation of employees --- Performance rating (of employees) --- Personnel evaluation --- Rating of employees --- Service rating --- Rating of. --- Rating of --- Performance - Management --- Performance standards --- Performance technology --- Performance

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This book analyzes the verification of empirical asset pricing models when returns of securities are projected onto a set of presumed (or observed) factors. Particular emphasis is placed on the verification of essential factors and features for asset returns through model search approaches, in which non-diversifiability and statistical inferences are considered. The discussion reemphasizes the necessity of maintaining a dichotomy between the nondiversifiable pricing kernels and the individual components of stock returns when empirical asset pricing models are of interest. In particular, the model search approach (with this dichotomy emphasized) for empirical model selection of asset pricing is applied to discover the pricing kernels of asset returns.

Prices --- Mathematical models. --- Finance. --- Risk management. --- Capital market. --- Capital investments. --- Risk Management. --- Capital Markets. --- Investment Appraisal. --- Capital expenditures --- Capital improvements --- Capital spending --- Fixed asset expenditures --- Plant and equipment investments --- Plant investments --- Investments --- Capital markets --- Market, Capital --- Finance --- Financial institutions --- Loans --- Money market --- Securities --- Crowding out (Economics) --- Efficient market theory --- Insurance --- Management

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This book offers a primer on the valuation of digital intangibles, a trending class of immaterial assets. Startups like successful unicorns, as well as consolidated firms desperately working to re-engineer their business models, are now trying to go digital and to reap higher returns by exploiting new intangibles. This book is innovative in its design and concept since it tackles a frontier topic with an original methodology, combining academic rigor with practical insights. Digital intangibles range from digitized versions of traditional immaterial assets (brands, patents, know-how, etc.) to more trendy applications like big data, Internet of Things, interoperable databases, artificial intelligence, digital newspapers, social networks, blockchains, FinTech applications, etc. This book comprehensively addresses related valuation issues, and demonstrates how best practices can be applied to specific asset appraisals, making it of interest to researchers, students, and practitioners alike. Roberto Moro Visconti is professor of Corporate Finance at the Catholic University of the Sacred Heart, Milan, Italy, and is the director of studio Moro Visconti – chartered accountants and financial consultants. Dr. Moro Visconti manages a consolidated financial boutique that derives from a deep-rooted tradition of professional consultants in Milan.

Intangible property --- Valuation. --- Capital investments. --- Management. --- Industrial management. --- Investment Appraisal. --- Innovation/Technology Management. --- Administration --- Industrial relations --- Organization --- Business administration --- Business enterprises --- Business management --- Corporate management --- Corporations --- Industrial administration --- Management, Industrial --- Rationalization of industry --- Scientific management --- Management --- Business --- Industrial organization --- Capital expenditures --- Capital improvements --- Capital spending --- Fixed asset expenditures --- Plant and equipment investments --- Plant investments --- Investments