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Unlock the power of shareholder capitalism -- a system that transcends zero-sum games and Wall Street stereotypes. In its essence, shareholder capitalism enables mutually beneficial trade, a concept ingrained in our human history for over 300,000 years. This approach fosters specialization, fuels innovation, and propels economic growth. In this engaging new book, David McLean explains how embracing shareholder capitalism doesn't negate the significance of other institutions; rather, it allows businesses to excel in providing the goods, services, and jobs that make society better off. Shareholder capitalism isn't about disregarding stakeholders; it thrives on mutually beneficial partnerships, and managers are entrusted to maximize shareholder value, focusing on companies' long-term success, which drives overall prosperity. Profits, the ultimate measure of value, steer businesses toward creating goods and services that benefit society. While shareholder capitalism is the overarching theme in Finance 101 courses, it is increasingly criticized, especially with the popularization of concepts like ESG investing and stakeholder capitalism. McLean argues that corporate social responsibility, while well-intentioned, shouldn't replace the democratic process in policymaking, and can lead to unintended consequences. Our journey through capitalism, beginning around 1800, has brought unprecedented prosperity, and it's essential to safeguard this system for the betterment of society, with democracy and free trade as our guiding beacons.

Mit dem näher rückenden Ende der ersten EEG-Vergütungsphase stellt sich für eine Vielzahl der Betreibenden von landwirtschaftlichen Bestandsbiogasanlagen die Frage nach geeigneten Konzepten für einen wirtschaftlichen Weiterbetrieb. In dem Band werden die relevantesten Folgekonzepte ermittelt und in Zahlungsstrommodellen dargestellt. Um einen möglichst hohen Erkenntnisgewinn über die Folgekonzepte für die Fortführung der Stromerzeugung und Biogasaufbereitung und die damit zusammenhängende Investitionsentscheidung zu erlangen, werden verschiedene Verfahren der Investitionsrechnung angewandt.

This book examines the role of government fiscal and non-fiscal incentives in spurring innovation and entrepreneurship in developed and developing economies. It explores and examines the role of government programs in different stages of firm growth pre-startup, startup, and scale-up. By developing a theoretical framework and reviewing international evidence, the book identifies the best combination of government incentives to stimulate innovation and entrepreneurship, and provides concrete policy recommendations for decision-makers. Some of the issues tackled in this book include national innovation policy, innovation support programs, effectiveness of the support, challenges associated with the programs, risk-sharing and partnerships for innovation. This book is of interest to academics, students, practitioners, policymakers, governmental and non-governmental organizations as well as other stakeholders who wants to be informed about the challenges, progress and current trend in stimulating innovation and entrepreneurship.

From the dashboard of a practicing CPA, a big-picture view presentation takes a meaningful look at taxation from the perspective of international startups and individuals who travel to the US to live here and work on their dreams.Navigating tax rules can be tricky, and it is easy to be blindsided. This book is designed to uncover many of those pitfalls and provide solutions. There are also opportunities to be explored, and we have detailed many of them here. Every startup CEO or financial executive involved in the compliance process should seek guidance from their tax advisers. Without a resource like this guide, they may not be well-prepared to know what questions to pose.Over time, many clients wished for reading materials that encapsulated the information we provided. As requested, we have crafted a book that's easy to go through and too valuable to overlook. It demystifies the US tax system, making it easy to deal with many of its confusing twists effectively. Please take a deep dive and let us know what you think! The information is provided for the 2023 rules. We will expand and update it every year in the new editions.

"Finance Intelligence" is your comprehensive guide to mastering the intricacies of financial management. In Chapter 1, you'll delve into the fundamentals of Finance Intelligence, gaining a solid foundation for the journey ahead.Chapter 2 focuses on "Mastering Budgeting and Money Management." Uncover the secrets to creating effective budgets, managing your money wisely, and achieving financial goals with strategic planning.Navigate the complex terrain of credit and debt in Chapter 3, titled "Finance Intelligence: Mastering Credit and Debt Management." Learn practical strategies to optimize your credit, manage debt responsibly, and pave the way for a financially secure future.Chapter 4, "Finance Intelligence: Mastering Investment Principles," is your gateway to understanding the principles that drive successful investments. Explore risk management, portfolio diversification, and investment strategies that stand the test of time.Take your financial acumen to new heights in Chapter 5, where "Finance Intelligence: Mastering Stock Market Mastery" unveils the mysteries of the stock market. Gain insights into stock selection, market trends, and effective trading practices.In Chapter 6, "Finance Intelligence: Mastering Real Estate and Property Investment," discover the lucrative world of real estate. From property valuation to investment strategies, this chapter equips you with the knowledge to navigate the real estate market confidently.As retirement looms on the horizon, Chapter 7, "Finance Intelligence - Retirement Planning," provides a roadmap for securing a comfortable and worry-free retirement. Explore investment options, pension plans, and proactive strategies to ensure financial peace of mind during your golden years.Whether you're a novice or seasoned investor, "Finance Intelligence" is your indispensable companion on the journey to financial mastery. With practical insights, actionable advice, and a holistic approach, this book empowers you to take control of your financial destiny. Embark on a transformative journey toward financial intelligence and unlock the keys to a prosperous future.

This book provides an investor-friendly presentation of the premises and applications of the quantitative finance models governing investment in one asset class of publicly traded stocks, specifically real estate investment trusts (REITs). The models provide highly advanced analytics for REIT investment, including: portfolio optimization using both historic and predictive return estimation; model backtesting; a complete spectrum of risk assessment and management tools with an emphasis on early warning systems, risk budgeting, estimating tail risk, and factor analysis; derivative valuation; and incorporating ESG ratings into REIT investment. These quantitative finance models are presented in a unified framework consistent with dynamic asset pricing (rational finance). Given its scope and practical orientation, this book will appeal to investors interested in portfolio optimization and innovative tools for investment risk assessment.

The Significance of Efficient Working Capital ManagementThe efficient management of working capital plays a pivotal role in ensuring the long-term survival or growth of a company and significantly impacts profitability. It is essential to manage working capital efficiently to achieve these objectives.Understanding the Complexity of Working CapitalWorking capital, often regarded as one of the most complex elements of any business organization, represents the difference between current assets and current liabilities. However, merely relying on this numerical difference is insufficient for effective managerial decision-making in the current business landscape. Therefore, it becomes imperative to critically examine the various components of working capital. This scrutiny allows us to assign appropriate importance to each component when determining the overall working capital.Optimizing Working Capital for Enhanced ProfitabilityWorking capital comprises a part of current assets that is financed by long-term liabilities. This implies that current assets are funded by two sources: a portion by current liabilities and the remainder by long-term liabilities. Notably, the cost associated with maintaining current liabilities is considerably lower than that of raising long-term liabilities. Consequently, the disparity in the costs associated with long-term and current liabilities contributes to an increase in the business concern's profitability. Consequently, effective working capital management not only reduces the overall cost of capital but also enhances profitability.The Nexus Between Working Capital and ProfitabilityProfitability serves as the primary objective of any business organization. Without profitability, the long-term survival of an organization is in question. Profit is defined as the difference between total revenue and total expenses, with sales representing the primary revenue component and the cost of production being a major expense. While working capital theoretically aims to ensure the smooth day-to-day operations of an organization, it is essential to recognize that all financial activities related to production and sales are equally vital as they constitute day-to-day organizational activities.Distinguishing Fixed Capital and Working CapitalBusiness organizations utilize two types of capital: fixed capital and working capital. Fixed capital refers to investments in assets required for the long-term operation of the business, such as land, machinery, and furniture. In contrast, working capital is necessary for short-term purposes, covering items like debtors, cash, bank balances, and material stocks within a specific financial year. Working capital represents the short-term investment and is measured as the difference between current assets and current liabilities.Managing the Delicate Balance of Current Assets and Current LiabilitiesCurrent assets encompass assets that can be readily converted into cash within the short term, while current liabilities consist of short-term obligations. Managing current assets and current liabilities is more challenging compared to handling fixed assets or fixed capital. Consequently, financial managers must devote greater attention to maintaining the desired levels of current assets and current liabilities.

This volume presents the proceedings of the 4th International Scientific and Practical Conference on Digital Economy and Finances (DEFIN22) at the Saint-Petersburg University of Management Technologies and Economics (UMTE), which took place in March 2022. It includes the newest research on the impact of new digital technologies on the growth and capitalization of companies and the labor market. The volume discusses the problems of situational modeling of economic processes and the creation of "e;digital twins"e; of enterprises. The contributions analyse how big data and artificial intelligence technologies are shaping the financial markets.

This book has the merit of being the first book analysing different aspects of data taxation from a wide perspective encompassing not only tax law but also other significant issues related to data, such as data protection and economic inefficiencies. The main aim is to provide data-specific solutions to data-driven problems. In the midst of a number of critical issues and a great deal of uncertainty currently reigning in the field, the authors attempt to put forward easy-to-implement and efficient proposals on the basis of an interdisciplinary analysis. The core idea of this book consists of segregating the utilisation of data into four different yet interdependent steps and constructing the tax law analysis on top of these four corner stones. Step one, occurring in the generation and collection phases of the datäs life cycle, comprises ¿the digital barter¿ and other collection of data. Step two, taking place during the processing and analytics phasesof the datäs life cycle, consists of microwork. Step three, situated in the storage, processing, analytics and use phases of the datäs life cycle, encompasses aggregation and internal use of data. Step four, materialising during the distribution and use phases of the datäs life cycle, covers sale of data, transfer of data and granting the right to use a database. The main issues occurring in each of the four steps are analysed separately, and yet interdependently, with an emphasis on international tax law. The book also comprises a VAT analysis; suggestion of a new type of tax, namely «data collection tax»; and a brief opinion on a potential future «robo-data tax». The subjects explored in this book are of interest for researchers, lawyers as well as tax administrations. Albeit being an academic publication, the developments made in this contribution are also relevant for the general public. After all, data, the youngest intangible, constitute the raw material of the fourth industrial revolution; and their use and taxation affect each and every citizen!

This book introduces a state-of-art approach in evaluating portfolio management and risk based on artificial intelligence and alternative data. The book covers a textual analysis of news and social media, information extraction from GPS and IoTs data, and risk predictions based on small transaction data, etc. The book summarizes and introduces the advancement in each area and highlights the machine learning and deep learning techniques utilized to achieve the goals. As a complement, it also illustrates examples on how to leverage the python package to visualize and analyze the alternative datasets, and will be of interest to academics, researchers, and students of risk evaluation, risk management, data, AI, and financial innovation.

Compliance has long been identified by scholars of white-collar crime as a key strategic control device in the regulation of corporations and complex organisations. Nevertheless, this essential process has been largely ignored within criminology as a specific subject for close scrutiny - Corporate Compliance: Crime, Convenience and Control seeks to address this anomaly. This initiating book applies the theory of convenience to provide criminological insight into the enduring self-regulatory phenomenon of corporate compliance. Convenience theory suggests that compliance is challenged when the corporation has a strong financial motive for illegitimate profits, ample organisational opportunities to commit and conceal wrongdoing, and executive willingness for deviant behaviour. Focusing on white-collar deviance and crime within corporations, the book argues that lack of compliance is recurrently a matter of deviant behaviour by senior executives within organisations who abuse their privileged positions to commission, commit and conceal financial crime. 

This book provides an end-to-end view of revenue management in the hospitality industry.  The book highlights the origins of hotel reservations systems and revenue management, challenges unique to hotels, revenue management models, new generation retailing, and personalization and steps required to remain competitive in the marketplace. This book is intended for practitioners to understand the basics and have a comprehensive view of the impacts of revenue management on product distribution, reservations, inventory control, including the latest advances in the field of attribute-based room pricing and inventory control.There are several aspects of revenue management that are not covered in books and journal articles such as hotel pricing, hotel fully allocated costs, content parity, impact of Online Travel Agencies on hotels, competitive revenue management and attribute-based room pricing and inventory control which represents the last frontier in hotel revenue management with intelligent retailing. Leveraging emerging technologies, such as Artificial Intelligence and Blockchain and the future state of revenue management, are also addressed.

"I've never met more groovy, inspiring and connected accountants in my life. Watch out for Inspire." - Phillip De Bella Are there questions about your tax that are confusing or go unresolved?Have you got plans to grow your business and want to make sure you've got the right tax and asset protection strategy in place? Written by Ben Walker, It's All Sorted will show you the 9 steps on how to master your tax and achieve peace of mind. In the pages of this book, you will learn: How to get your tax rhythms in sync by working with a proactive accountantStructures and the strategy you need to understand to grow your business through the various stagesThe key strategies of how Inspire has saved literally tens of millions of dollars in tax for our clients This book will give you the clarity and understanding you need to run your business with a tax that gives you peace of mind.

This book outlines the origins of Danish Capitalism and prosperity, from a poor and devastated minor state in the 19th century to a consolidated universal mixed economy welfare state at the end of the 20th century. The book argues that firm-based innovation drove Danish prosperity and redistributive capacity. It is a comprehensive but manageable examination of the institutions and choices that shaped a highly innovative and wealthy nation. The book relies on history and economic theory, presents commonly accepted narratives and theories, and contributes new explanations. Therefore, the book also traces both antecedents and the current state of 20th-century capitalism in Denmark and particular outcomes and critical institutions such as firm age, the labor market, and pension schemes. The book will be of interest to academics in business history and economic policy, as well as policymakers and all those interested in mixed economy studies.

Immer mehr Investoren haben ESG-Kriterien in ihre Investitionskriterien integriert und immer mehr Banken ergänzen ihre Vergaberichtlinien für Kredite um ESG-Aspekte. Mit einer gelebten ESG-Strategie und ESG-Kommunikation werden Unternehmen für Investoren und Banken folgerichtig attraktiver.Dieses Buch soll Unternehmern und Managern zeigen, wie sie zu einer überzeugenden ESG-Strategie kommen und wie sie diese professionell kommunizieren.

This book looks at the analogic application of standard corporate valuation approaches to trendy digital tokens, expressed by cryptocurrencies, and validated through blockchain systems. Whereas traditional firm appraisal follows institutional guidelines and best practices, frontier research still must define the boundaries of these trendy issues, linking a strong theoretical background to practical advances that still need fine-tuning. This book, written by an academic and a senior consultant, combines theoretical rigor with practical insights, providing an innovative framework for evaluators, managers, and practitioners, and academics of corporate valuation and financial technology.

This book examines the emerging trends in vanishing borders of urban local government finance due to uncertain local tax and expenditure regimes. It analyzes the global developments with illustrations from state budgetary operations of the Indian federation. This trend has gained momentum due to concentration of population in cities and big towns as a consequence of globalization, leading to enhanced environmental vulnerability due to climate change. Expanding expenditure needs have not been corresponded by revenue regimes and transfers. Moreover, involving corporate sector in local area preference initiatives through mandatory corporate social responsibility (CSR) is an interesting development. It is expected to work as a local fiscal additionality to supplement locally provided civic and infrastructure services. This additionality may also evolve into public private partnerships at the local level. Such development however has the potential of displacing local government operations.The focus of the book hinges around critically examining setbacks to fiscal decentralization and challenges in improving the status of urban local finances to enhance fiscal autonomy of these governments, particularly in Indian scenario. The book also explores the possibility of an expanded role of local fiscal policy in the context of globalization and climate change, besides addressing the conventional responsibilities with respect to quality of civic services.

The use of cloud applications is becoming increasingly popular due to their scalability and cost advantages. However, companies need help in adopting cloud applications due to their internal policies and compliance requirements. Trust and security are crucial factors that influence the adoption of cloud applications. This book proposes a cloud architecture that addresses this challenge by shifting the trust for compliance-driven configurations of cloud applications from the cloud application provider to the blockchain. The architecture was developed using design science research and evaluated using mixed-method semi-structured guided interviews. The results show that the proposed architecture can significantly reduce adoption risk due to compliance-driven cloud application configurations, shifting trust from the cloud provider to the blockchain. This book presents an innovative approach to address the challenge of adopting cloud applications, and enhancing trust and security for businesses.

This book provides an overview of the evolution of investment and risk, together with a synthesis of research on these developments. It explores how exposures can be modified by measuring and managing them and introduces readers to the latest strategies and trends in investment. Broad in scope, the book covers the most important aspects of investment risk management, including the time value of money, financial markets, equity markets, bond markets, and portfolio theory. Accordingly, it offers a valuable asset for advanced undergraduate and graduate finance students, investors and academics alike.

Dieses essential gibt einen Überblick über die Grundlagen und wesentlichen Besonderheiten der sich im Umbruch befindlichen Umsatzbesteuerung der öffentlichen Hand. Es richtet sich an alle juristischen Personen des öffentlichen Rechts, zeigt den sich aus der Novellierung des § 2b UStG ergebenden Handlungsbedarf auf und dient als praxisnahe Einstiegshilfe in die komplexe Materie. Diverse Praxishilfen in Form von Prüfungsschemata, Grafiken und Merksätze unterstützen dabei, umsatzsteuerrelevante Sachverhalte zu erkennen und erforderliche Maßnahmen in die Wege zu leiten.

In today's interconnected world, fraud and corruption threaten the integrity of global financial systems, making illicit and illegitimate finance a pressing concern across industries. Editor Abdul Rafay, an esteemed academic scholar in financial crimes, corporate finance, and financial technology, offers the definitive solution to the Theory and Practice of Illegitimate Finance . This premier reference work comprehensively explores all facets of illicit finance, providing invaluable insights and real-world case studies on financial crimes, money laundering, tax evasion, and fraudulent practices. Through meticulous research and analysis, the book equips business owners, policymakers, researchers, and industry professionals with strategies to combat and prevent illicit finance from infiltrating financial institutions and businesses. As an indispensable resource for academicians and students, Theory and Practice of Illegitimate Finance empowers readers to tackle the complexities of illicit finance. Abdul Rafay's unparalleled expertise, evident from his successful editing of previous books and numerous research papers, enhances the book's credibility. By embracing the transformative journey offered by the book's insights, readers from all walks of life can contribute to a more transparent and accountable financial world, ensuring the integrity of global finance systems and paving the way for a brighter and more secure future.

The new entrepreneur's guide to financing your start-up. Every successful entrepreneur needs at least two things: a great idea and the funds to bring that idea to life. While headlines and stories of great founders' successes may have you believe raising money is easy, in reality, the grueling nature of pitching investors for capital can be exhausting emotionally and physically and still leave you without needed funds. So what can you do? In The Big Raise, Michael Miller and Alexander Baker take the guesswork out of raising money for your start-up. By breaking down the process into four stages-ideation, preparation, the raise, and after the raise-the authors lead you through the venture capital landscape, demystifying it with the knowledge that comes from their vast experience in business, law, and the world of finance in both Canada and the United States. Key terms are defined, and attainable concepts are explored, all to help prepare you for investor expectations and avoid some of the common pitfalls that plague many start-ups as they seek funding.You may already have the good idea. Once you have the skills and knowledge to go into the fundraising process with confidence, you are more likely to hear investors say Yes.