Financial Institutions, Markets, and Money / Edition 11

Hardcover (Print)
Rent
Rent from BN.com
$24.86
(Save 88%)
Est. Return Date: 09/28/2014
Buy Used
Buy Used from BN.com
$117.50
(Save 41%)
Item is in good condition but packaging may have signs of shelf wear/aging or torn packaging.
Condition: Used – Good details
Used and New from Other Sellers
Used and New from Other Sellers
from $103.47
Usually ships in 1-2 business days
(Save 48%)
Other sellers (Hardcover)
  • All (16) from $103.47   
  • New (8) from $121.99   
  • Used (8) from $103.47   

Overview

Kidwell's Financial Institutions 11th Edition presents a balanced introduction to the operation, mechanics, and structure of the U.S. financial system, emphasizing its institutions, markets, and financial instruments. The text discusses complex topics in a clear and concise fashion with an emphasis on "Real World" data, and people and event boxes, as well as personal finance examples to help retain topical interest.

Each author brings something unique to this new edition. David Kidwell, formerly Dean of the Carlson School of Business, is a gifted storyteller with a keen insight on what it takes to reach readers. He is also currently writing a Corporate Finance text and is Chair of the Finance department at Texas A&M University. David Whidbee is an Assoc. Dean at Washington State University. He has won numerous teaching and research awards.

Read More Show Less

Product Details

  • ISBN-13: 9780470561089
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 11/1/2011
  • Series: CourseSmart Series
  • Edition description: New Edition
  • Edition number: 11
  • Pages: 736
  • Sales rank: 611,250
  • Product dimensions: 8.30 (w) x 10.10 (h) x 1.20 (d)

Meet the Author

Dr. David S. Kidwell is the Dean and Professor of Finance at the Curtis L. Carlson School of Management at the University of Minnesota. He holds an undergraduate degree in mechanical engineering from California State University at San Diego, and MBS from California State University at San Francisco, and a Ph.D. in finance from the University of Oregon.
Dr. Kidwell's previous position was Dean of the School of Business Administration at the University of Connecticut. Prior to joining the University of Connecticut, he held endowed Charis in banking and finance at Tulane University, the University of Tennessee, and Texas Tech University. He was also on the faculty at the Krannert Graduate School of Management, Purdue University, where he was twice voted the outstanding undergraduate teacher of the year award for the School of Business.
Dean Kidwell has been a management consultant for Coopers & Lybrand and a sales engineer for Bethlehem Steel Corporation. He is an expert on the U.S. financial system and is the author of over eight articles dealing with the U.S. financial system and capital markets. Dean Kidwell has participated in a number of research grants funded by the National Science Foundation to study the efficiency of U.S. capital markets, and to study the impact of government regulations upon the delivery of consumer financial services.
Dean Kidwell currently serves on the Boards of Schwan's Sales Enterprises, Minnesota Life Insurance Company, the Stonier Graduate School of Banking and the Minnesota Center for Corporate Responsibility. He is Secretary -Treasurer of the Board of Directors of AACSB, the International Association for Management Education. He is past member of the Boards of the Minnesota Council for Quality and Minnegasco, past Chairman of the University of Minnesota's Community Campaign Drive, and served as an Examiner for the 1995 Education Pilot Program, Malcolm Baldridge National Quality Award.

Richard L. Peterson was the "High Scholarship Graduate in Economics" from Iowa State University in 1962, and received a Ph.D. in Economics from the University of Michigan in 1966. Subsequently, he taught economics at Southern Methodist University, was a financial economist on the staff of the Board of Governors of the Federal Reserve System, and served as the Associate Director of Purdue University's Credit Research Center before joining Texas Tech University in 1982 as a Professor of Finance and holder of the I. Wylie and Elizabeth Briscoe Chair of Bank Management. He has taught at numerous schools in the U.S. and abroad for domestic and international financial institution executives and has consulted for Dun and Bradstreet, Chemical Bank, Citicorp, and the National Second Mortgage Association. He has served as an expert witness for law firms representing the FDIC in savings and loan litigation, in New York Stock Exchange arbitration hearings, and in other matters.
In addition to Financial, Institutions, Markets, and Money, he has written a book titled The REAL Social Security Problem and has published numerous papers. His papers have appeared in the Journal of Money, Credit and Banking; Journal of Finance; Journal of Financial and Quantitative Analysis; Journal of Financial Research; Journal of Financial Services Research; Journal of Futures Markets; Bell Journal of Economics; Quarterly Journal of Economics; Journal of Macroeconomics; American Banker; Banker's Magazine; and numerous other publications. He also has presented papers at numerous academic meetings and at conferences sponsored by Federal Reserve Banks and Federal Home Loan Banks, and he participated in the American Assembly's comprehensive study of the U.S. financial system and its regulation.
He received Texas Tech's President's Excellence in Teaching Award in 1989 and its Academic Achievement Award in 1992. He retired from Texas Tech after completing this edition of financial Institutions, markets, and Money, but he remains active in practical finance as a writer of tracts on financial and economic policy issues and as an investor in real estate, stocks, bonds, futures, and options.

David W. Blackwell is a consultant in the PricewaterhouseCoopers Financial Advisory Services practice. He joined PricewaterhouseCoopers after a 13-year academic career as a Finance professor, having served on the faculties of the University of Georgia, the University of Houston, and Emory University. His areas of expertise include securities underwriting, corporate finance, commercial bank management, and executive compensation. He has authored or co-authored 16 publications in the areas of corporate finance and the management of financial institutions. His publications have appeared in the leading scholarly journals of Finance and Accounting such as Journal of Finance, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Financial Management, Journal of Financial Research, Journal of Accounting Research, and Journal of Accounting and Economics.
Dave currently consults on a broad range of litigation matters including securities, breach of contract, and intellectual property infringement cases. He has also consulted on matters involving corporate governance and executive compensation. In addition, Dave has delivered executive education seminars in corporate finance and management of financial institutions for IBM, Kaiser Permanente, Chemical Bank, Southwire Company, Georgia Bankers Association, Warsaw Institute of Banking, Bratislava Institute of Banking, and the People's Construction Bank of China (PRC).
Dave earned his Ph.D. in Finance in 1986 and his BS in Economics in 1981, both from the University of Tennessee, Knoxville. He currently serves as the President of the Southern Finance Association and is an Associate Editor of the Journal of Financial Research.

Read More Show Less

Table of Contents

Financial Institutions, Markets and Money (11th Edition)
Contents

Part I , THE FINANCIAL SYSTEM
Chapter 1 An Overview of Financial Markets and Institutions
Chapter Preview
Learning Objectives
1.1 The Financial System
1.2 Financial Markets and Direct Financing
Do You Understand?
PEOPLE & EVENTS: Wall Street Faces Global Competition
1.3 Types of Financial Markets
1.4 The Money Markets
1.5 The Capital Markets
Do You Understand?
1.6 Financial Intermediaries and Indirect Financing
Do You Understand?
1.7 Types of Financial Intermediaries
Do You Understand?
1.8 The Risks Financial Institutions Manage
1.9 Regulation of the Financial System
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 2 The Federal Reserve and Its Powers
Chapter Preview
Learning Objectives
2.1 Origins of The Federal Reserve System
PEOPLE & EVENTS: Free Banking and Wildcat Banks
2.2 The Current Structure of The Fed
2.3 Monetary Powers of the Board of Governors
2.4 The Fed's Regulatory Powers
2.5 Independence of The Fed
Do You Understand?
2.6 The Fed's Balance Sheet
Learning by Doing 2.1: Computing a Bank's Excess Reserve Position
2.7 The Fed's Role In Check Clearing
2.8 Federal Reserve Tools of Monetary Policy
PEOPLE & EVENTS: A Contrast In Style: Greenspan versus Bernanke
Learning by Doing 2.2: Calculating a Bank's Reserve Position
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 3 The Fed and Interest Rates
Chapter Preview
Learning Objectives
3.1 Federal Reserve Control of The Money Supply
3.2 The Fed's Influence on Interest Rates
3.3 The Treasury Department and Fiscal Policy
Do You Understand?
3.4 Goals of Monetary Policy
PEOPLE & EVENTS: The Fed as Lender of Last Resort: Preventing a Financial Panic
3.5 The Fed and the Economy
PEOPLE & EVENTS: Black Monday
3.6 Complications of Monetary Policy
3.7 Anatomy of a Financial Crisis
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Part II, How Interest Rates Are Determined
Chapter 4 The Level of Interest Rates
Chapter Preview
Learning Objectives
4.1 What Are Interest Rates?
4.2 The Real Rate of Interest
4.3 Loanable Funds Theory of Interest
Do You Understand?
4.4 Price Expectations and Interest Rates
PEOPLE & EVENTS: Irving Fisher (1867-1947): Economist
Do You Understand?
PEOPLE & EVENTS: Estimating the Expected Rate of Inflation from TIPS
4.5 Forecasting Interest Rates
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 5 Bond Prices and Interest Rate Risk
Chapter Preview
Learning Objectives
5.1 The Time Value of Money
Do You Understand?
5.2 Bond Pricing
PEOPLE & EVENTS: Rogue Trader Incurs Huge Financial Losses for French Bank
Learning by Doing 5.1: Calculating the Price of a Bond Using a Financial Calculator
5.3 Bond Yields
Learning by Doing 5.2: Calculating the Yield to Maturity on a Bond
Do You Understand?
5.4 Important Bond Pricing Relationships
5.5 Interest Rate Risk and Duration
Learning by Doing 5.3: Calculating the Duration of a Bond
PEOPLE & EVENTS: Betting the Farm on Interest Rates and Losing
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 6 The Structure of Interest Rates
Chapter Preview
Learning Objectives
6.1 The Term Structure of Interest Rates
Learning by Doing 6.1: Using the Term Structure Formula to Calculate Implied Forward Rates
Do You Understand?
6.2 Default Risk
PEOPLE & EVENTS: The Credit-Rating Club
6.3 Tax Treatment
Do You Understand?
6.4 Marketability
6.5 Options of Debt Securities
Do You Understand?
6.6 Behavior of Interest Rates over the Business Cycle
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Part III, Financial Markets

Chapter 7 Money Markets
Chapter Preview
Learning Objectives
7.1 How the Money Markets Work
7.2 Economic Role of the Money Markets
7.3 Characteristics of Money Market Instruments
7.4 Treasury Bills
Learning by Doing 7.1: Calculating the Discount Yield
Learning by Doing 7.2: Calculating the Bond Equivalent Yield
Do You Understand?
7.5 Federal Agency Securities
7.6 Fed Funds
7.7 Other Major Money Market Instruments
PEOPLE & EVENTS: Lehman Brothers "Creative" Accounting: Repos 105 and 108
7.8 Money Market Participants
7.9 The Impact of the 2007-2009 Financial Crisis on the Money Markets
PEOPLE & EVENTS: How Breaking the Buck (Almost) Broke the Commercial Paper Market
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 8 Bond Markets
Chapter Preview
Learning Objectives
8.1 Functions of the Capital Markets
8.2 U.S. Government and Agency Securities
PEOPLE & EVENTS: What Do Negative Yields on TIPS Tell Us?
Do You Understand?
8.3 State and Local Government Bonds
8.4 Corporate Bonds
Do You Understand?
8.5 Financial Guarantees
8.6 Securitized Credit Instruments
8.7 Financial Market Regulators
8.8 Bond Markets Around the World Are Increasingly Linked
8.9 The Impact of the 2007-2009 Financial Crisis on the Bond Markets
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 9 Mortgage Markets
Chapter Preview
Learning Objectives
9.1 The Unique Nature of Mortgage Markets
9.2 Types of Mortgages
Do You Understand?
9.3 Mortgage Qualifying
Do You Understand?
9.4 Mortgage-backed Securities
Learning by Doing 9.1: Determining How Much Home You Can Buy
9.5 Mortgage Prepayment Risk
Do You Understand?
9.6 Participants in the Mortgage Markets
PEOPLE & EVENTS: The Rise and Fall of Fannie and Freddie
9.7 Relationship between Mortgage Markets and the Capital Markets
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 10 Equity Markets
Chapter Preview
Learning Objectives
10.1 What Are Equity Securities?
10.2 Equity Markets
10.3 Equity Trading
10.4 Global Stock Markets
10.5 Regulation of Equity Markets
Do You Understand?
10.6 Equity Valuation Basics
Do You Understand?
Learning by Doing 10.1: Valuing a Stock
10.7 Equity Risk
Do You Understand?
10.8 Stock Market Indexes
PEOPLE & EVENTS: Circuit Breakers, Black Monday, and the Flash Crash
10.9 The Stock Market as a Predictor of Economic Activity
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 11 Derivatives Markets
Chapter Preview
Learning Objectives
11.1 The Nature of Derivative Securities
11.2 Forward Markets
11.3 Futures Markets
11.4 Uses of the Financial Futures Markets
Learning by Doing 11.1: Hedging Risk in a Stock Portfolio
11.5 Risks in the Futures Markets
Do You Understand?
11.6 Options Markets
Do You Understand?
11.7 Regulations of the Futures and Options Markets
11.8 Swap Markets
PEOPLE & EVENTS: Swap Market Regulation
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 12 International Markets
Chapter Preview
Learning Objectives
12.1 Difficulties of International Trade
12.2 Exchange Rates
12.3 Balance of Payments
12.4 Foreign Exchange Markets
12.5 Spot and Forward Transactions
Learning by Doing 12.1: Using Forward Contracts to Hedge Exchange Rate Risks
PEOPLE & EVENTS: The Big Mac Test of Purchasing Power Parity
12.6 Capital Flows and Exchange Rates
Do You Understand?
12.7 Government Intervention in Foreign Exchange Markets
Learning by Doing 12.2: Using Purchasing Power Parity to Determine the Expected Exchange Rate
12.8 Financing International Trade
Do You Understand?
12.9 International Money and Capital Markets
12.10 The Globalization of Financial Markets
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Part IV, Commercial Banking

Chapter 13 Commercial Bank Operations
Chapter Preview
Learning Objectives
13.1 An Overview of the Banking Industry
13.2 Balance Sheet for a Commercial Bank
13.3 The Source of Bank Funds
Do You Understand?
13.4 Bank Uses of Funds: Bank Investments and Cash Assets
13.5 Bank Uses of Funds: Loans and Leases
13.6 Loan Pricing
13.7 Analysis of Loan Credit Risk
PEOPLE & EVENTS: What's Your Score?
Do You Understand?
13.8 Fee-Based Services
13.9 Off-Balance-Sheet Banking
Do You Understand?
13.10 Bank Earnings
13.11 Bank Performance
Do You Understand?
13.12 Bank and Financial Holding Companies
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 14 International Banking
Chapter Preview
Learning Objectives
14.1 Development of International Banking
14.2 Regulation of Overseas Banking Activities
14.3 Delivery of Overseas Banking Services
PEOPLE & EVENTS: Credit Risk, Subprime Mortgage Crisis of 2007, and Challenges to the Banking Sector
Do You Understand?
14.4 International Lending
Do You Understand?
14.5 Foreign Banks in the United States
14.6 Future Directions of International Banking
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 15 Regulation of Financial Institutions
Chapter Preview
Learning Objectives
15.1 Reasons for Regulation
15.2 Bank Failures and Regulation
PEOPLE & EVENTS: WaMu and the Destructive "Power of Yes"
15.3 Safety and Soundness Regulation: Deposit Insurance
Do You Understand?
15.4 Deposit Insurance Issues
Do You Understand?
15.5 Safety and Soundness Regulation: Capital Requirements
Do You Understand?
15.6 Bank Examinations
15.7 Structure and Competition Regulations
15.8 Consumer Protection Regulations
PEOPLE & EVENTS: Dual or Dueling Banking Systems?
15.9 Bank Regulators
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Part V, Financial Institutions

Chapter 16 Thrift Institutions and Finance Companies
Chapter Preview
Learning Objectives
16.1 Historical Development of Savings Institutions
16.2 Operations of Savings Institutions
Do You Understand?
16.3 Credit Unions
PEOPLE & EVENTS: Demographic Change Brings Opportunity
PEOPLE & EVENTS: Commercial Banks Versus Credit Unions
16.4 Thrift Institutions Around the Globe
Do You Understand?
16.5 Finance Companies
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 17 Insurance Companies and Pension Funds
Chapter Preview
Learning Objectives
17.1 Insurance
PEOPLE & EVENTS: 9/11 and Katrina: Insurance Coverage Disputes
17.2 The Insurance Industry
Do You Understand?
17.3 Life and Health Insurance
Do You Understand?
17.4 Property and Liability Insurance
Learning by Doing 17.1: Calculating Policyholders' Surplus
Do You Understand?
17.5 Pensions
Learning by Doing 17.2: Measuring Insurance Company Profitability with the Combined Ratio
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 18 Investment Banking
Chapter Preview
Learning Objectives
18.1 The Relationship between Commercial and Investment Banking
18.2 Primary Services of an Investment Bank
PEOPLE & EVENTS: Where, Oh, Where Have All the Investment Banks Gone?
Do You Understand?
18.3 Private Equity
Learning by Doing 18.1: Evaluating a Venture Capital Investment
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 19 Investment Companies
Chapter Preview
Learning Objectives
19.1 Investment Companies
19.2 Open-end Mutual Funds
Learning by Doing 19.1: Calculating Net Asset Value
PEOPLE & EVENTS: Money Market Mutual Funds Breaking the Buck
19.3 Closed-end Mutual Funds
19.4 Exchange-traded Funds
Do You Understand?
19.5 Hedge Funds
PEOPLE & EVENTS: Hedge Funds and the Dodd-Frank Wall Street Reform and Consumer Protection Act
Do You Understand?
19.6 Real Estate Investment Trusts
Do You Understand?
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Chapter 20 Risk Management in Financial Institutions
Chapter Preview
Learning Objectives
20.1 The Dilemma: Profitability versus Safety
20.2 Liquidity Management
Do You Understand?
PEOPLE & EVENTS: Operational Risk
20.3 Managing Credit Risk
Do You Understand?
PEOPLE & EVENTS: Counterparty Controversy: AIG and Its Risky Risk Management
20.4 Measuring and Assessing Interest Rate Risk
20.5 Hedging Interest Rate Risk
Do You Understand?
Learning by Doing 20.1: Measuring Interest Rate Risk
Summary of Learning Objectives
Key Terms
Questions and Problems
Internet Exercise

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)