Synopsis
This book covers the fundamentals of financial management and investment management without getting into the highly technical topics and mathematical rigor. It also provides a practitioner-oriented approach to financial and investment management. The field of finance covers several specialty areas. The two most important ones which set the foundations for the other specialty areas are financial management and investment management, and these are the two major topics covered in the book. After touching on the basics — the financial system and the players, financial statements, and mathematics of finance — the authors then cover financial management and investment management in greater depth. For financial management the authors focus on financial strategy and financial planning, dividend policy, corporate financing decisions, entrepreneurial finance, financial risk management, and capital budgeting decisions. The investment management coverage includes the different types of risks faced in investing, company analysis, valuing common stock, portfolio selection, asset pricing theory, and investing in common stocks and bonds. The last chapter of the book covers financial derivatives and how they are used in finance to control risk.
About the Authors
Pamela Peterson Drake is the Chandler/Universal Eminent Professor of Finance at James Madison University. She teaches courses in corporate finance, analytical methods, financial analysis, and financial data science. She previously taught at Florida State University and Florida Atlantic University. She received her BS in Accountancy at Miami University (Oxford, Ohio) and her PhD in Finance at the University of North Carolina, (Chapel Hill). She earned the Chartered Financial Analyst (CFA) designation and has been a consultant with the CFA Institute over many years. She has authored or co-authored many books and book chapters, and has published over forty articles in peer-reviewed journals.
Frank J Fabozzi is editor of The Journal of Portfolio Management and co-editor/cofounder of The Journal of Financial Data Science. He is Professor of Finance at EDHEC Business School. Over the past 35 years, he has held professorial positions at MIT, Yale, Princeton, Carnegie Mellon, and New York University. He is a trustee of the BlackRock fixed income fund complex. He has authored more than 120 books and more than 200 articles in peer-reviewed journals. He is the CFA Institute's 2007 recipient of the C Stewart Sheppard Award and the CFA Institute's 2015 recipient of the James R Vertin Award. He was inducted into the Fixed Income Analysts Society Hall of Fame in November 2002. He earned the designations of Chartered Financial Analyst (CFA) and Certified Public Accountant (CPA). He received his BA and MA in economics in 1970 from The City College of New York where he was elected to Phi Beta Kappa, and received a PhD in economics in 1972 from the City University of New York. In 1994 he was awarded an Honorary Doctorate of Humane Letters from Nova Southwestern University.
Francesco A Fabozzi is a doctoral student in data science at Stevens Institute of Technology. He is the managing editor of The Journal of Financial Data Science. He has worked as a research associate at NYU's Courant Institute in the Department of Mathematical Finance. He is on the Curriculum Board of the Financial Data Professionals Institute (FDP Institute). He interned at AQR in the firm's machine learning group and is the Associate Director of Data Science at the CFA Institute Research Foundation. He is the coauthor of Fundamentals of Institutional Asset Management and Asset Management: Tools and Issues both published by World Scientific Press. Francesco has published in the Journal of Financial Econometrics and The Journal of Portfolio Management. He earned a BA in economics in 2018 from Princeton University and an MS in financial analytics in 2019 from the Stevens Institute of Technology.
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