This text describes financial markets and institutions by providing a conceptual framework to understand why markets exist and what their role is in the financial environment. Each type of financial market is described with a focus on its utilization by financial institutions, its internationalization, and recent events that have affected it. Each type of financial institution is described with a focus on its regulatory aspects, management, use of financial markets, and performance. This edition continues its strong tradition of emphasizing timely examples and practical applications, including Internet materials, and offers a unique tie into Internet resources.
"I've used the Madura text for 10 years now and have not found a better financial markets and institutions book."
This text describes financial markets and the institutions that serve those markets. Chapters on financial services explain how a specific unit, for example, the insurance unit, of a financial conglomerate conducts its operations. The text is suitable for both undergraduate and graduate courses in financial markets and institutions. This sixth edition features a new chapter on stock market microstructure, and moves chapters on pension funds and credit unions to an accompanying Web site. The financial impact of September 11 is incorporated. Problems that require the use of templates are included for this edition, to reinforce understanding of relationships between variables. The author is affiliated with Florida Atlantic University. Annotation c. Book News, Inc., Portland, OR (booknews.com)
Jeff Madura serves as the SunTrust Bank Professor of Finance at Florida Atlantic University. The recipient of multiple awards for excellence in teaching and research, Dr. Madura has written several successful finance texts, including FINANCIAL MARKETS AND INSTITUTIONS. His research on international finance has been published in numerous journals, including JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS; JOURNAL OF MONEY, CREDIT AND BANKING; FINANCIAL MANAGEMENT; JOURNAL OF FINANCIAL RESEARCH; and FINANCIAL REVIEW. Dr. Madura has served as a consultant for international banks, securities firms, and other multinational corporations. In addition, he is a former director of the Eastern Finance Association and a former director and president of the Southern Finance Association. He earned his B.S. and M.A. from Northern Illinois University and his D.B.A. from Florida State University.
PART ONE: OVERVIEW OF THE FINANCIAL ENVIRONMENT. 1. Role of Financial Markets and Institutions. 2. Determination of Interest Rates. 3. Structure of Interest Rates. PART TWO: THE FED AND MONETARY POLICY. 4. Functions of the Fed. 5. Monetary Theory and Policy. PART THREE: DEBT SECURITY MARKETS. 6. Money Markets. 7. Bond Markets. 8. Bond Valuation and Risk. 9. Mortgage Markets. PART FOUR: EQUITY MARKETS. 10. Stock Markets. 11. Stock Valuation and Risk. PART FIVE: DERIVATIVE SECURITY MARKETS. 12. Financial Futures Markets. 13. Options Markets. 14. Interest Rate Derivative Markets. 15. Foreign Exchange Derivative Markets. PART SIX: COMMERCIAL BANKING. 16. Commercial Bank Operations. 17. Bank Regulation. 18. Bank Management. 19. Bank Performance. 20. International Banking. PART SEVEN: NONBANK OPERATIONS. 21. Thrift Operations. 22. Consumer Finance Operations. 23. Mutual Fund Operations. 24. Securities Operations. 25. Insurance Operations. 26. Pension Fund Operations. 27. Credit Unions.