Fundamentals of Financial Management: Concise

Höfundar: Eugene F. Brigham; Joel F. Houston (Útgáfa: 12)
Fundamentals of Financial Management: Concise

Kaup valmöguleikar

Kenndu nemendum um fjármálamarkaði og fjármálastjórnun fyrirtækja með tólftu útgáfu Fundamentals of Financial Management: Concise eftir Brigham og Houston. Dæmin fjalla um nýja þróun í fjármálum og sýna áhrif breyttrar tækni, gervigreindar og fjártækni. Skoðaðu hvernig vaxandi verðbólga, sveiflukenndir vextir og breytingar á skattalögum fyrirtækja móta ákvarðanir í fjármálum, og kynntu þér landslag tækni, hnattvæðingar, sveiflna á fjármálamörkuðum og samspils stjórnmála og efnahagslífs.

Nánar um bókina

Útgefandi
Cengage Learning US
ISBN
9798214582030
Print ISBN
9798214040585
Format
ePub
Útgáfa
12
Höfundar
Eugene F. Brigham; Joel F. Houston
Tungumál
English
Útgefið
2025-01-23
Prent takmörkun á líftíma
100
Prent takmörkun
2
Afritunar takmörkun
2

Kaflar

  • Cover Page
  • Title Page
  • Copyright Page
  • Dedication
  • Preface
  • Acknowledgments
  • Conclusion
  • About the Authors
  • Part 1. Introduction to Financial Management (Chapters 1-2)
  • Chapter 1. An Overview of Financial Management
  • 1-1. What Is Finance?
  • 1-1a. Areas of Finance
  • 1-1b. Finance Within an Organization
  • 1-1c. Finance Versus Economics and Accounting
  • 1-2. Jobs in Finance
  • 1-3. Forms of Business Organization
  • 1-4. The Main Financial Goal: Creating Value for Investors
  • 1-4a. Determinants of Value
  • 1-4b. Intrinsic Value
  • 1-4c. Consequences of Having a Short-Run Focus
  • 1-5. Stockholder–Manager Conflicts
  • 1-5a. Compensation Packages
  • 1-5b. Direct Stockholder Intervention
  • 1-5c. Managers’ Response
  • 1-6. Stockholder–Debtholder Conflicts
  • 1-7. Balancing Shareholder Interests and the Interests of Society
  • 1-8. Business Ethics
  • 1-8a. What Companies Are Doing
  • 1-8b. Consequences of Unethical Behavior
  • 1-8c. How Should Employees Deal With Unethical Behavior?
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Financial Analytics Case
  • Chapter 2. Financial Markets and Institutions
  • 2-1. The Capital Allocation Process
  • 2-2. Financial Markets
  • 2-2a. Types of Markets
  • 2-2b. Recent Trends
  • 2-3. Financial Institutions
  • 2-4. The Stock Market
  • 2-4a. Physical Location Stock Exchanges
  • 2-4b. Over-The-Counter (OTC) and the NASDAQ Stock Markets
  • 2-5. The Market for Common Stock
  • 2-5a. Types of Stock Market Transactions
  • 2-6. Stock Markets and Returns
  • 2-6a. Stock Market Reporting
  • 2-6b. Stock Market Returns
  • 2-7. Stock Market Efficiency
  • 2-7a. Behavioral Finance Theory
  • 2-7b. Conclusions about Market Efficiency
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Financial Analytics Case
  • Integrated Case
  • Part 2. Fundamental Concepts in Financial Management (Chapters 3-5)
  • Chapter 3. Financial Statements, Cash Flow, and Taxes
  • 3-1. Financial Statements and Reports
  • 3-2. The Balance Sheet
  • 3-2a. Allied’s Balance Sheet
  • 3-3. The Income Statement
  • 3-4. Statement of Cash Flows
  • 3-5. Statement of Stockholders’ Equity
  • 3-6. Uses and Limitations of Financial Statements
  • 3-7. Free Cash Flow
  • 3-8. MVA and EVA
  • 3-9. Income Taxes
  • 3-9a. Individual Taxes
  • 3-9b. Corporate Taxes
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Chapter 4. Analysis of Financial Statements
  • 4-1. Ratio Analysis
  • 4-2. Liquidity Ratios
  • 4-2a. Current Ratio
  • 4-2b. Quick, or Acid Test, Ratio
  • 4-3. Asset Management Ratios
  • 4-3a. Inventory Turnover Ratio
  • 4-3b. Days Sales Outstanding
  • 4-3c. Fixed Assets Turnover Ratio
  • 4-3d. Total Assets Turnover Ratio
  • 4-4. Debt Management Ratios
  • 4-4a. Total Debt to Total Capital
  • 4-4b. Times-Interest-Earned Ratio
  • 4-5. Profitability Ratios
  • 4-5a. Operating Margin
  • 4-5b. Profit Margin
  • 4-5c. Return on Total Assets
  • 4-5d. Return on Common Equity
  • 4-5e. Return on Invested Capital
  • 4-5f. Basic Earning Power (BEP) Ratio
  • 4-6. Market Value Ratios
  • 4-6a. Price/Earnings Ratio
  • 4-6b. Market/Book Ratio
  • 4-6c. Enterprise Value/EBITDA Ratio
  • 4-7. Tying the Ratios Together: The DuPont Equation
  • 4-8. Potential Misuses of ROE
  • 4-9. Using Financial Ratios to Assess Performance
  • 4-9a. Comparison to Industry Average
  • 4-9b. Benchmarking
  • 4-9c. Trend Analysis
  • 4-10. Uses and Limitations of Ratios
  • 4-11. Looking Beyond the Numbers
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 4A. Common Size and Percent Change Analyses
  • Chapter 5. Time Value of Money
  • 5-1. Time Lines
  • 5-2. Future Values
  • 5-2A. Step-by-Step Approach
  • 5-2B. Formula Approach
  • 5-2C. Financial Calculators
  • 5-2D. Spreadsheets
  • 5-2E. Graphic View of the Compounding Process
  • 5-3. Present Values
  • 5-3A. Graphic View of the Discounting Process
  • 5-4. Finding the Interest Rate, I
  • 5-5. Finding the Number of Years, N
  • 5-6. Annuities
  • 5-7. Future Value of an Ordinary Annuity
  • 5-8. Future Value of an Annuity Due
  • 5-9. Present Value of an Ordinary Annuity
  • 5-10. Finding Annuity Payments, Periods, and Interest Rates
  • 5-10A. Finding Annuity Payments, PMT
  • 5-10B. Finding the Number of Periods, N
  • 5-10C. Finding the Interest Rate, I
  • 5-11. Perpetuities
  • 5-12. Uneven Cash Flows
  • 5-13. Future Value of an Uneven Cash Flow Stream
  • 5-14. Solving for I with Uneven Cash Flows
  • 5-15. Semiannual and Other Compounding Periods
  • 5-16. Comparing Interest Rates
  • 5-17. Fractional Time Periods
  • 5-18. Amortized Loans
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 5A. Continuous Compounding and Discounting
  • Appendix 5B. Growing Annuities
  • Part 3. Financial Assets (Chapters 6-9)
  • Chapter 6. Interest Rates
  • 6-1. The Cost of Money
  • 6-2. Interest Rate Levels
  • 6-3. The Determinants of Market Interest Rates
  • 6-3a. The Real Risk-Free Rate of Interest, r *
  • 6-3b. The Nominal, or Quoted, Risk-Free Rate of Interest, r RF = r * + IP
  • 6-3c. Inflation Premium (IP)
  • 6-3d. Default Risk Premium (DRP)
  • 6-3e. Liquidity Premium (LP)
  • 6-3f. Interest Rate Risk and the Maturity Risk Premium (MRP)
  • 6-4. The Term Structure of Interest Rates
  • 6-5. What Determines the Shape of the Yield Curve?
  • 6-6. Using the Yield Curve to Estimate Future Interest Rates
  • 6-7. Macroeconomic Factors That Influence Interest Rate Levels
  • 6-7a. Federal Reserve Policy
  • 6-7b. Federal Budget Deficits or Surpluses
  • 6-7c. International Factors
  • 6-7d. Business Activity
  • 6-8. Interest Rates and Business Decisions
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Chapter 7. Bonds and Their Valuation
  • 7-1. Who Issues Bonds?
  • 7-2. Key Characteristics of Bonds
  • 7-2a. Par Value
  • 7-2b. Coupon Interest Rate
  • 7-2c. Maturity Date
  • 7-2d. Call Provisions
  • 7-2e. Sinking Funds
  • 7-2f. Other Features
  • 7-3. Bond Valuation
  • 7-4. Bond Yields
  • 7-4a. Yield to Maturity
  • 7-4b. Yield to Call
  • 7-5. Changes in Bond Values over Time
  • 7-6. Bonds With Semiannual Coupons
  • 7-7. Assessing a Bond’s Riskiness
  • 7-7a. Price Risk
  • 7-7b. Reinvestment Risk
  • 7-7c. Comparing Price Risk and Reinvestment Risk
  • 7-8. Default Risk
  • 7-8a. Various Types of Corporate Bonds
  • 7-8b. Bond Ratings
  • 7-8c. Bankruptcy and Reorganization
  • 7-9. Bond Markets
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 7A. Zero Coupon Bonds
  • Appendix 7B. Bond Risk and Duration
  • Appendix 7C. Bankruptcy and Reorganization
  • Chapter 8. Risk and Rates of Return
  • 8-1. The Risk-Return Trade-Off
  • 8-2. Stand-Alone Risk
  • 8-2a. Statistical Measures of Stand-Alone Risk
  • 8-2b. Measuring Stand-Alone Risk: The Standard Deviation
  • 8-2c. Using Historical Data to Measure Risk
  • 8-2d. Other Measures of Stand-Alone Risk: The Coefficient of Variation and the Sharpe Ratio
  • 8-2e. Risk Aversion and Required Returns
  • 8-3. Risk in a Portfolio Context: The CAPM
  • 8-3a. Expected Portfolio Returns, r ^ p
  • 8-3b. Portfolio Risk
  • 8-3c. Risk in a Portfolio Context: The Beta Coefficient
  • 8-4. The Relationship Between Risk and Rates of Return
  • 8-4a. The Impact of Expected Inflation
  • 8-4b. Changes in Risk Aversion
  • 8-4c. Changes in a Stock’s Beta Coefficient
  • 8-5. Some Concerns About Beta and the CAPM
  • 8-6. Some Concluding Thoughts: Implications for Corporate Managers and Investors
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 8A. Calculating Beta Coefficients
  • Chapter 9. Stocks and Their Valuation
  • 9-1. Legal Rights and Privileges of Common Stockholders
  • 9-1a. Control of the Firm
  • 9-1b. The Preemptive Right
  • 9-2. Types of Common Stock
  • 9-3. Stock Price Versus Intrinsic Value
  • 9-3a. Why Do Investors and Companies Care About Intrinsic Value?
  • 9-4. The Discounted Dividend Model
  • 9-4a. Expected Dividends as the Basis for Stock Values
  • 9-5. Constant Growth Stocks
  • 9-5a. Illustration of a Constant Growth Stock
  • 9-5b. Dividends Versus Growth
  • 9-5c. Which Is Better: Current Dividends or Growth?
  • 9-5d. Required Conditions for the Constant Growth Model
  • 9-6. Valuing Nonconstant Growth Stocks
  • 9-7. Enterprise-Based Approach to Valuation
  • 9-7a. The Corporate Valuation Model
  • 9-7b. Comparing the Corporate Valuation and Discounted Dividend Models
  • 9-8. Preferred Stock
  • Tying It All Together
  • Self–Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 9A. Stock Market Equilibrium
  • Part 4. Investing in Long-Term Assets: Capital Budgeting (Chapters 10-13)
  • Chapter 10. The Cost of Capital
  • 10-1. An Overview of the Weighted Average Cost of Capital (WACC)
  • 10-2. Basic Definitions
  • 10-3. Cost of Debt, r d ( 1 - T )
  • 10-4. Cost of Preferred Stock, r p
  • 10-5. Cost of Retained Earnings, r s
  • 10-5a. CAPM Approach
  • 10-5b. Bond-Yield-Plus-Risk-Premium Approach
  • 10-5c. Dividend-Yield-Plus-Growth-Rate, or Discounted Cash Flow (DCF), Approach
  • 10-5d. Averaging the Alternative Estimates
  • 10-6. Cost of New Common Stock, r e
  • 10-6a. Add Flotation Costs to a Project’s Cost
  • 10-6b. Increase the Cost of Capital
  • 10-6c. When Must External Equity Be Used?
  • 10-7. Composite, or Weighted Average, Cost of Capital, WACC
  • 10-8. Factors That Affect the WACC
  • 10-8a. Factors the Firm Cannot Control
  • 10-8b. Factors the Firm can Control
  • 10-9. Adjusting the Cost of Capital for Risk
  • 10-10. Some Other Problems With Cost of Capital Estimates
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 10A. The Cost of New Common Stock and WACC
  • Chapter 11. The Basics of Capital Budgeting
  • 11-1. An Overview of Capital Budgeting
  • 11-2. Net Present Value (NPV)
  • 11-3. Internal Rate of Return (IRR)
  • 11-4. Multiple Internal Rates of Return
  • 11-5. Reinvestment Rate Assumptions
  • 11-6. Modified Internal Rate of Return (MIRR)
  • 11-7. NPV Profiles
  • 11-8. Payback Period
  • 11-9. Conclusions on Capital Budgeting Methods
  • 11-10. Decision Criteria Used in Practice
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Chapter 12. Cash Flow Estimation and Risk Analysis
  • 12-1. Conceptual Issues in Cash Flow Estimation
  • 12-1a. Free Cash Flow Versus Accounting Income
  • 12-1b. Timing of Cash Flows
  • 12-1c. Incremental Cash Flows
  • 12-1d. Replacement Projects
  • 12-1e. Sunk Costs
  • 12-1f. Opportunity Costs Associated With Assets the Firm Owns
  • 12-1g. Externalities
  • 12-2. Analysis of an Expansion Project
  • 12-2a. Effect of Different Depreciation Rates
  • 12-2b. Cannibalization
  • 12-2c. Opportunity Costs
  • 12-2d. Sunk Costs
  • 12-2e. Other Changes to the Inputs
  • 12-3. Replacement Analysis
  • 12-4. Risk Analysis in Capital Budgeting
  • 12-5. Measuring Stand-Alone Risk
  • 12-5a. Sensitivity Analysis
  • 12-5b. Scenario Analysis
  • 12-5c. Monte Carlo Simulation
  • 12-6. Within-Firm and Beta Risk
  • 12-7. Unequal Project Lives
  • 12-7a. Replacement Chains
  • 12-7b. Equivalent Annual Annuities (EAA)
  • 12-7c. Conclusions About Unequal Lives
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 12A. Tax Depreciation
  • Appendix 12B. Refunding Operations
  • Appendix 12C. Using the CAPM to Estimate the Risk-Adjusted Cost of Capital
  • Appendix 12D. Techniques for Measuring Beta Risk
  • Chapter 13. Real Options and Other Topics in Capital Budgeting
  • 13-1. Introduction to Real Options
  • 13-2. Growth (Expansion) Options
  • 13-3. Abandonment/Shutdown Options
  • 13-4. Investment Timing Options
  • 13-5. Flexibility Options
  • 13-6. The Optimal Capital Budget
  • 13-7. The Post-Audit
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problems
  • Financial Analytics Case
  • Integrated Case
  • Part 5. Capital Structure and Dividend Policy (Chapters 14-15)
  • Chapter 14. Capital Structure and Leverage
  • 14-1. Book, Market, or “Target” Weights?
  • 14-1a. Measuring the Capital Structure
  • 14-1b. Capital Structure Changes Over Time
  • 14-2. Business and Financial Risk
  • 14-2a. Business Risk
  • 14-2b. Factors That Affect Business Risk
  • 14-2c. Operating Leverage
  • 14-2d. Financial Risk
  • 14-3. Determining the Optimal Capital Structure
  • 14-3a. WACC and Capital Structure Changes
  • 14-3b. The Hamada Equation
  • 14-3c. The Optimal Capital Structure
  • 14-4. Capital Structure Theory
  • 14-4a. The Effect of Taxes
  • 14-4b. The Effect of Potential Bankruptcy
  • 14-4c. Trade-off Theory
  • 14-4d. Signaling Theory
  • 14-4e. Using Debt Financing to Constrain Managers
  • 14-4f. Pecking Order Hypothesis
  • 14-4g. Windows of Opportunity
  • 14-5. Checklist for Capital Structure Decisions
  • 14-6. Variations in Capital Structures
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 14A. Degree of Leverage
  • Chapter 15. Distributions to Shareholders: Dividends and Share Repurchases
  • 15-1. Dividends Versus Capital Gains: What Do Investors Prefer?
  • 15-1a. Dividend Irrelevance Theory
  • 15-1b. Reasons Some Investors Prefer Dividends
  • 15-1c. Reasons Some Investors Prefer Capital Gains
  • 15-2. Other Dividend Policy Issues
  • 15-2a. Information Content, Or Signaling, Hypothesis
  • 15-2b. Clientele Effect
  • 15-3. Establishing the Dividend Policy in Practice
  • 15-3a. Setting the Target Payout Ratio: The Residual Dividend Model
  • 15-3b. Earnings, Cash Flows, and Dividends
  • 15-3c. Payment Procedures
  • 15-4. Dividend Reinvestment Plans
  • 15-5. Summary of Factors Influencing Dividend Policy
  • 15-5a. Constraints
  • 15-5b. Investment Opportunities
  • 15-5c. Alternative Sources of Capital
  • 15-5d. Effects of Dividend Policy on r s
  • 15-6. Stock Dividends and Stock Splits
  • 15-6a. Stock Splits
  • 15-6b. Stock Dividends
  • 5-6c. Effect on Stock Prices
  • 15-7. Stock Repurchases
  • 15-7a. The Effects of Stock Repurchases
  • 15-7b. Advantages of Repurchases
  • 15-7c. Disadvantages of Repurchases
  • 15-7d. Conclusions on Stock Repurchases
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Financial Analytics Case
  • Integrated Case
  • Appendix 15A. The Residual Dividend Model: An Example
  • Part 6. Working Capital Management, Financial Forecasting, and Multinational Financial Management (Chapters 16-18)
  • Chapter 16. Working Capital Management
  • 16-1. Background on Working Capital
  • 16-2. Current Assets Investment Policies
  • 16-3. Current Assets Financing Policies
  • 16-3a. Maturity Matching, or “Self-Liquidating,” Approach
  • 16-3b. Aggressive Approach
  • 16-3c. Conservative Approach
  • 16-3d. Choosing Between the Approaches
  • 16-4. The Cash Conversion Cycle
  • 16-4a. Calculating the Targeted CCC
  • 16-4b. Calculating the CCC From Financial Statements
  • 16-5. The Cash Budget
  • 16-6. Cash and Marketable Securities
  • 16-6a. Currency
  • 16-6b. Demand Deposits
  • 16-6c. Marketable Securities
  • 16-7. Inventories
  • 16-8. Accounts Receivable
  • 16-8a. Credit Policy
  • 16-8b. Setting and Implementing the Credit Policy
  • 16-8c. Monitoring Accounts Receivable
  • 16-9. Accounts Payable (Trade Credit)
  • 16-10. Bank Loans
  • 16-10a. Promissory Note
  • 16-10b. Line of Credit
  • 16-10c. Revolving Credit Agreement
  • 16-10d. Costs of Bank Loans
  • 16-11. Commercial Paper
  • 16-12. Accruals (Accrued Liabilities)
  • 16-13. Use of Security in Short-Term Financing
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Integrated Case
  • Appendix 16A. Short-Term Loans and Bank Financing
  • Chapter 17. Financial Planning and Forecasting
  • 17-1. Strategic Planning
  • 17-2. The Sales Forecast
  • 17-3. The AFN Equation
  • 17-3a. Excess Capacity Adjustments
  • 17-4. Forecasted Financial Statements
  • 17-4a. Part I. Inputs
  • 17-4b. Part II. Forecasted Income Statement
  • 17-4c. Part III. Forecasted Balance Sheet
  • 17-4d. Part IV. Ratios and EPS
  • 17-4e. Using the Forecast to Improve Operations
  • 17-5. Using Regression to Improve Forecasts
  • 17-6. Analyzing the Effects of Changing Ratios
  • 17-6a. Modifying Accounts Receivable
  • 17-6b. Modifying Inventories
  • 17-6c. Other “Special Studies”
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Integrated Case
  • Appendix 17A. Forecasting Financial Requirements When Financial Ratios Change
  • Chapter 18. Multinational Financial Management
  • 18-1. Multinational, or Global, Corporations
  • 18-2. Multinational versus Domestic Financial Management
  • 18-3. The International Monetary System
  • 18-3a. International Monetary Terminology
  • 18-3b. Current Monetary Arrangements
  • 18-4. Foreign Exchange Rate Quotations
  • 18-4a. Cross Rates
  • 18-4b. Interbank Foreign Currency Quotations
  • 18-5. Trading in Foreign Exchange
  • 18-5a. Spot Rates and Forward Rates
  • 18-6. Interest Rate Parity
  • 18-7. Purchasing Power Parity
  • 18-8. Inflation, Interest Rates, and Exchange Rates
  • 18-9. International Money and Capital Markets
  • 18-9a. International Credit Markets
  • 18-9b. International Stock Markets
  • 18-10. Investing Overseas
  • 18-11. International Capital Budgeting
  • 18-12. International Capital Structures
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Comprehensive/Spreadsheet Problem
  • Integrated Case
  • Part 7. Special Topics in Financial Management (Chapter 19)
  • Chapter 19. Fintech in Financial Markets
  • 19-1. Origins of Fintech
  • 19-2. Blockchain Technology
  • 19-2a. Advantages and Disadvantages of Blockchain Technology
  • 19-3. Cryptocurrencies
  • 19-3a. Using Bitcoins
  • 19-3b. Advantages and Disadvantages of Bitcoins
  • 19-3c. The Outlook for Bitcoins
  • 19-3d. Smart Contracts
  • 19-3e. Stablecoins
  • 19-3f. Central Bank Digital Currency (CBDC)
  • 19-4. Fintech Innovations in Financial Services Industry
  • 19-4a. Fintech Banking Services
  • 19-4b. Fintech in Lending
  • 19-4c. Fintech in Investments
  • 19-4d. Fintech in Advisory Services
  • 19-4e. Fintech in Insurance
  • 19-5. Fintech and Regulation
  • 19-5a. Regulatory Oversight of Fintech
  • 19-5b. Cybersecurity and Fintech
  • Tying It All Together
  • Self-Test Questions and Problems
  • Questions
  • Problems
  • Integrated Case
  • Appendix A.
  • Appendix B.
  • Appendix C. Selected Equations and Tables
  • Frequently Used Symbols/Abbreviations