# Outline of finance

Appearance

Part of a series on |

Finance |
---|

The following outline is provided as an overview of and topical guide to finance:

**Finance** – addresses the ways in which individuals and organizations raise and allocate monetary resources over time, taking into account the risks entailed in their projects.

## Overview

[edit]The term **finance** may incorporate any of the following:

- The study of money and other assets
- The management and control of those assets
- Profiling and managing related risks

## Fundamental financial concepts

[edit]- Finance
- Arbitrage
- Capital (economics)
- Capital asset pricing model
- Cash flow
- Cash flow matching
- Debt
- Asset types
- Discounted cash flow
- Financial capital
- Entrepreneur
- Fixed income analysis
- Gap financing
- Global financial system
- Hedge
- Interest rate
- Short-rate model
- Interest
- Investment
- Leverage
- Long (finance)
- Liquidity
- Margin (finance)
- Mark to market
- Market impact
- Medium of exchange
- Microcredit
- Money
- Portfolio
- Reference rate
- Return
- Risk
- Scenario analysis
- Short (finance)
- Speculation
- Position trader
- Spread trade
- Standard of deferred payment
- Store of value
- Time horizon
- Time value of money
- Trade
- Unit of account
- Volatility
- Yield
- Yield curve
- Equated monthly installment
- Down payment big rupees

## History

[edit]- History of finance
- History of banking
- History of insurance
- Tulip mania (Dutch Republic), 1620s/1630s
- South Sea Bubble (UK) & Mississippi Company (France), 1710s; see also Stock market bubble
*Vix pervenit*1745, on usury and other dishonest profit- Panic of 1837 (US)
- Railway Mania (UK), 1840s
- Erie War (US), 1860s
- Long Depression, 1873–1896 (mainly US and Europe, though other parts of the world were affected)
- Post-World War I hyperinflation; see Hyperinflation and Inflation in the Weimar Republic
- Wall Street Crash of 1929
- Great Depression 1930s
- Bretton Woods Accord 1944
- 1973 oil crisis
- 1979 energy crisis
- Savings and Loan Crisis 1980s
- Black Monday 1987
- Asian financial crisis 1990s
- Dot-com bubble 1995-2001
- Stock market downturn of 2002
- United States housing bubble
- Financial crisis of 2007–08, followed by the Great Recession

## Finance terms by field

[edit]### Accounting (financial record keeping)

[edit]- Auditing
- Accounting software
- Book keeping
- FASB
- Financial accountancy
- Management accounting
- Philosophy of Accounting
- Hedge accounting

### Banking

[edit]- See articles listed under: Bank § See also

### Corporate finance

[edit]- Balance sheet analysis
- Business plan
- Corporate action
- (Strategic) Financial management
- Mergers and acquisitions
- Real options

### Investment management

[edit]- Active management
- Efficient market hypothesis
- Portfolio
- Modern portfolio theory
- Arbitrage pricing theory
- Passive management
- Activist shareholder
- Mutual fund
- Financial engineering
- Hedge fund
- Hedge
- #Quantitative investing, below

### Personal finance

[edit]- 529 plan (US college savings)
- ABLE account (US plan for benefit of individuals with disabilities)
- Asset allocation
- Budget
- Coverdell Education Savings Account (Coverdell ESAs, formerly known as Education IRAs)
- Credit and debt
- Debit card
- Direct deposit
- Employment contract
- Financial literacy
- Insurance
- Predatory lending
- Retirement plan
- Australia – Superannuation in Australia
- Canada
- Japan – Nippon individual savings account
- New Zealand – KiwiSaver
- United Kingdom
- United States
- Pension

- Simple living
- Social security
- Tax advantage
- Wealth
- Comparison of accounting software
- Personal financial management
- Investment club
- Collective investment scheme

### Public finance

[edit]- Central bank
- Federal Reserve
- Fractional-reserve banking
- Tax
- Capital gains tax
- Estate tax (and inheritance tax)
- Gift tax
- Income tax
- Inheritance tax
- Payroll tax
- Property tax (including land value tax)
- Sales tax (including value added tax, excise tax, and use tax)
- Transfer tax (including stamp duty)
- Tax advantage
- Tax, tariff and trade
- Tax amortization benefit

- Crowding out
- Industrial policy
- Agricultural policy
- Currency union
- Monetary reform

### Risk management

[edit]- Asset and liability management
- Asset liability mismatch
- Capital Requirements Regulation 2013 & Credit Institutions Directive 2013 (Capital Requirements Directives)
- Cash flow hedge
- Cash management
- Corporate governance
- Climate-related asset stranding
- Credit risk
- Default (finance)
- Downside risk & Upside risk
- Duration gap
- Enterprise risk management
- Financial engineering
- Financial risk
- Financial risk management
- Foreign exchange hedge
- Fuel price risk management
- Gordon–Loeb model for cyber security investments
- Interest rate risk
- Insurance
- Investment risk
- Irrational exuberance
- Kelly criterion
- Liquidity risk
- Market risk
- Operational risk
- Risk accounting
- Risk adjusted return on capital
- Risk aversion
- Risk-based internal audit
- Risk measure
- Risk modeling
- Risk of ruin
- Risk pool
- Risk register
- Risk return ratio
- Risk–return spectrum
- Security management
- Settlement risk
- Shadow banking system
- Specific risk
- St. Petersburg paradox
- Systematic risk
- Three lines of defence
- Treasury management
- Uncompensated risk
- Valuation risk
- Value at risk
- Volatility risk
- Volume risk
- Wrong way risk

### Constraint finance

[edit]- Environmental finance
- Feminist economics
- Green economics
- Islamic economics
- Uneconomic growth
- Value of Earth
- Value of life

## Insurance

[edit]- Actuarial science
- Annuities
- Catastrophe modeling
- Earthquake loss
- Extended coverage
- Insurable interest
- Insurable risk
- Insurance
- Insurance contract
- Loss payee clause
- Risk Retention Group

## Economics and finance

[edit]### Finance-related areas of economics

[edit]- Financial economics
- Financial econometrics
- Monetary economics
- Mathematical economics
- Managerial economics
- Economic growth theory
- Decision theory
- Game theory
- Experimental economics / Experimental finance
- Behavioral economics / Behavioral finance

### Corporate finance theory

[edit]- Fisher separation theorem
- Modigliani–Miller theorem
- Theory of the firm
- The Theory of Investment Value
- Agency theory
- Managerial finance
- Capital structure
- Dividend policy
- Capital budgeting (valuation)
- Risk management

### Asset pricing theory

[edit]- Value (economics)
- Financial markets
- General equilibrium theory
- Equilibrium price
- Arbitrage-free price
- Utility
- Economic efficiency
- State prices
- Fundamental theorem of asset pricing
- Martingale pricing
- Quantum finance

#### Asset pricing models

[edit]- Equilibrium pricing
- Equities; foreign exchange and commodities
- Bonds; other interest rate instruments

- Risk neutral pricing
- Equities; foreign exchange and commodities; interest rates
- Bonds; other interest rate instruments

## Mathematics and finance

[edit]### Time value of money

[edit]### Financial mathematics

[edit]#### Mathematical tools

[edit]- Probability
- Stochastic calculus
- Monte Carlo methods
- Partial differential equations
- Volatility

#### Derivatives pricing

[edit]- Underlying logic (see also #Economics and finance above)
- Forward contract
- Futures
- Options (incl. Real options and ESOs)
- Valuation of options
- Black–Scholes formula
- Approximations for American options

- Black model
- Binomial options model
- Finite difference methods for option pricing
- Garman–Kohlhagen model
- The Greeks
- Lattice model (finance)
- Margrabe's formula
- Monte Carlo methods for option pricing
- Monte Carlo methods in finance
- Quasi-Monte Carlo methods in finance
- Least Square Monte Carlo for American options

- Trinomial tree
- Volatility

- Swaps
- Interest rate derivatives (bond options, swaptions, caps and floors, and others)
- Black model
- Short-rate models (generally applied via lattice based- and specialized simulation-models, although "Black like" formulae exist in some cases.)
- Forward rate / Forward curve -based models (Application as per short-rate models)
- LIBOR market model (also called: Brace–Gatarek–Musiela Model, BGM)
- Heath–Jarrow–Morton Model (HJM)
- Cheyette model

- Valuation adjustments
- Yield curve modelling

#### Portfolio mathematics

[edit]- #Mathematical techniques below
- #Quantitative investing below
- Modern portfolio theory § Mathematical model
- Portfolio optimization
- Merton's portfolio problem
- Kelly criterion
- Roy's safety-first criterion
- Specific applications:

Financial markets

### Market and instruments

[edit]- Capital markets
- Securities
- Financial markets
- Primary market
- Initial public offering
- Aftermarket
- Free market
- Bull market
- Bear market
- Bear market rally
- Market maker
- Dow Jones Industrial Average
- Nasdaq
- List of stock exchanges
- List of stock market indices
- List of corporations by market capitalization
- Value Line Composite Index

### Equity market

[edit]- Stock market
- Stock
- Common stock
- Preferred stock
- Treasury stock
- Equity investment
- Index investing
- Private Equity
- Financial reports and statements
- Fundamental analysis
- Dividend
- Dividend yield
- Stock split

#### Equity valuation

[edit]- Dow theory
- Elliott wave principle
- Economic value added
- Fibonacci retracement
- Gordon model
- Growth stock
- Mergers and acquisitions
- Leveraged buyout
- Takeover
- Corporate raid
- PE ratio
- Market capitalization
- Income per share
- Stock valuation
- Technical analysis
- Chart patterns
- V-trend
- Paper valuation

#### Investment theory

[edit]- Behavioral finance
- Dead cat bounce
- Efficient market hypothesis
- Market microstructure
- Stock market crash
- Stock market bubble
- January effect
- Mark Twain effect
- Quantitative behavioral finance
- Quantitative analysis (finance)
- Statistical arbitrage

### Bond market

[edit]- Bond (finance)
- Zero-coupon bond
- Junk bonds
- Convertible bond
- Accrual bond
- Municipal bond
- Sovereign bond
- Bond valuation
- Fixed income

### Money market

[edit]- Repurchase agreement
- International Money Market
- Currency
- Exchange rate
- International currency codes
- Table of historical exchange rates

### Commodity market

[edit]- Commodity
- Asset
- Commodity Futures Trading Commission
- Commodity trade
- Drawdowns
- Forfaiting
- Fundamental analysis
- Futures contract
- Fungibility
- Gold as an investment
- Hedging
- Jesse Lauriston Livermore
- List of traded commodities
- Ownership equity
- Position trader
- Risk (Futures)
- Seasonal traders
- Seasonal spread trading
- Slippage
- Speculation
- Spread trade
- Technical analysis
- Trade
- Trend

### Derivatives market

[edit]- Derivative (finance)
- (see also Financial mathematics topics; Derivatives pricing)
- Underlying instrument

#### Forward markets and contracts

[edit]#### Futures markets and contracts

[edit]- Backwardation
- Contango
- Futures contract
- Financial future

- Futures exchange

#### Option markets and contracts

[edit]- Options
- Stock option
- Warrants
- Foreign exchange option
- Interest rate options
- Bond options
- Real options
- Options on futures

#### Swap markets and contracts

[edit]#### Derivative markets by underlyings

[edit]##### Equity derivatives

[edit]- Contract for difference (CFD)
- Exchange-traded fund (ETF)
- Equity options
- Equity swap
- Real estate investment trust (REIT)
- Warrants

##### Interest rate derivatives

[edit]- LIBOR
- Forward rate agreement
- Interest rate swap
- Interest rate cap
- Exotic interest rate option
- Bond option
- Interest rate future
- Money market instruments
- Range accrual Swaps/Notes/Bonds
- In-arrears Swap
- Constant maturity swap (CMS) or Constant Treasury Swap (CTS) derivatives (swaps, caps, floors)
- Interest rate Swaption
- Bermudan swaptions
- Cross currency swaptions
- Power Reverse Dual Currency note (PRDC or Turbo)
- Target redemption note (TARN)
- CMS steepener
- Snowball
- Inverse floater
- Strips of Collateralized mortgage obligation
- Interest only (IO)
- Principal only (PO)

- Ratchet caps and floors

##### Credit derivatives

[edit]- Credit default swap
- Collateralized debt obligation
- Credit default option
- Total return swap
- Securitization

##### Foreign exchange derivative

[edit]- Basis swap
- Currency future
- Currency swap
- Foreign exchange binary option
- Foreign exchange forward
- Foreign exchange option
- Forward exchange rate
- Foreign exchange swap
- Foreign exchange hedge
- Non-deliverable forward
- Power reverse dual-currency note

## Financial regulation

[edit]### Designations and accreditation

[edit]- Certified Financial Planner
- Chartered Financial Analyst
- Chartered Alternative Investment Analyst
- Professional risk manager
- Chartered Financial Consultant
- Canadian Securities Institute
- Independent financial adviser
- Financial risk manager
- Chartered Market Technician
- Certified Financial Technician

### Litigation

[edit]### Fraud

[edit]### Industry bodies

[edit]### Regulatory bodies

[edit]#### International

[edit]- Bank for International Settlements
- International Organization of Securities Commissions
- Security Commission
- Basel Committee on Banking Supervision
- Basel Accords – Basel I, Basel II, Basel III
- International Association of Insurance Supervisors
- International Accounting Standards Board

#### European Union

[edit]#### Regulatory bodies by country

[edit]##### United Kingdom

[edit]##### United States

[edit]- Commodity Futures Trading Commission
- Federal Reserve
- Federal Trade Commission
- Municipal Securities Rulemaking Board
- Office of the Comptroller of the Currency
- Securities and Exchange Commission

### United States legislation

[edit]- Glass–Steagall Act (US)
- Gramm–Leach–Bliley Act (US)
- Sarbanes–Oxley Act (US)
- Securities Act of 1933 (US)
- Securities Exchange Act of 1934 (US)
- Investment Advisers Act of 1940 (US)
- USA PATRIOT Act

## Actuarial topics

[edit]## Valuation

[edit]### Underlying theory

[edit]- Value (economics)
- Valuation (finance) and specifically § Valuation overview
- "The Theory of Investment Value"
- Financial economics § Corporate finance theory
- Valuation risk
- Real versus nominal value (economics)
- Real prices and ideal prices
- Fair value
- Intrinsic value
- Market price
- Value in use
- Fairness opinion
- Asset pricing (see also #Asset pricing theory above)

### Context

[edit]- (Corporate) Bonds
- Equity valuation
- Real estate valuation

### Considerations

[edit]- Bonds
- Equity

### Discounted cash flow valuation

[edit]- Bond valuation
- Modeling
- Results
- Cash flows

- Real estate valuation
- Equity valuation
- Results
- Specific models and approaches
- Cash flows

### Relative valuation

[edit]- Bonds
- Real estate
- Equity

### Contingent claim valuation

[edit]- Valuation techniques
- Applications
- Corporate investments and projects
- Real options
- Corporate finance § Valuing flexibility
- Contingent value rights
- Business valuation § Option pricing approaches
- structured finance investments (funding dependent)
- special purpose entities (funding dependent)

- Balance sheet assets and liabilities
- warrants and other convertible securities
- securities with embedded options such as callable bonds
- employee stock options

- Corporate investments and projects

### Other approaches

[edit]- "Fundamentals"-based (relying on accounting information)

### Financial modeling

[edit]- Cash flow
- Required return (i.e. discount rate)
- Terminal value
- Forecasted financial statements

## Portfolio theory

[edit]### General concepts

[edit]- Portfolio (finance)
- Portfolio manager
- Investment management
- Investor profile
- Rate of return on a portfolio / Investment performance
- Risk return ratio
- Risk factor (finance)
- Portfolio optimization
- Diversification (finance)
- Asset classes
- Asset allocation
- Sector rotation
- Correlation & covariance
- Risk-free interest rate
- Leverage (finance)
- Utility function
- Intertemporal portfolio choice
- Portfolio insurance
- Mathematical finance § Risk and portfolio management: the P world
- Quantitative investment / Quantitative fund (see below)
- Uncompensated risk

### Modern portfolio theory

[edit]- Portfolio optimization
- Theory and results (derivation of the CAPM)
- Equilibrium price
- Market price
- Systematic risk
- Idiosyncratic risk / Specific risk
- Mean-variance analysis (Two-moment decision model)
- Efficient frontier (Mean variance efficiency)
- Feasible set
- Mutual fund separation theorem
- Tangent portfolio
- Market portfolio
- Beta (finance)
- Capital allocation line
- Capital market line
- Security characteristic line
- Capital asset pricing model
- Security market line
- Roll's critique

- Related measures
- Optimization models

- Equilibrium pricing models (CAPM and extensions)

### Post-modern portfolio theory

[edit]- Approaches
- Optimization considerations
- Pareto efficiency
- Bayesian efficiency
- Multiple-criteria decision analysis
- Multi-objective optimization
- Stochastic dominance
- Downside risk
- Volatility skewness
- Semivariance
- Expected shortfall (ES; also called conditional value at risk (CVaR), average value at risk (AVaR), expected tail loss (ETL))
- Tail value at risk
- Statistical dispersion
- Discounted maximum loss
- Indifference price

- Measures
- Optimization models

### Performance measurement

[edit]- Alpha (finance)
- Beta (finance)
- Performance attribution
- Fixed-income attribution
- Benchmark
- Lipper average
- Returns-based style analysis
- Rate of return on a portfolio
- Holding period return
- Tracking error
- Style drift
- Simple Dietz method
- Modified Dietz method
- Modigliani risk-adjusted performance
- Upside potential ratio
- Maximum Downside Exposure
- Maximum drawdown
- Sharpe ratio
- Treynor ratio
- Jensen's alpha
- Bias ratio
- V2 ratio
- Calmar ratio (hedge fund specific)

### Mathematical techniques

[edit]- Modern portfolio theory § Mathematical model
- Quadratic programming
- Nonlinear programming
- Mixed integer programming
- Stochastic programming (§ Multistage portfolio optimization)
- Copula (probability theory) (§ Quantitative finance)
- Principal component analysis (§ Quantitative finance)
- Deterministic global optimization
- Extended Mathematical Programming (§ EMP for stochastic programming)
- Genetic algorithm (List of genetic algorithm applications § Finance and Economics)
- Artificial intelligence:

## Quantitative investing

[edit]- Quantitative investing
- Quantitative fund
- Quantitative analysis (finance) § Quantitative investment management
- Quantitative analysis (finance) § Algorithmic trading quantitative analyst
- Applications of artificial intelligence § Trading and investment
- Trading:
- Portfolio optimization:
- Risks:
- Discussion:
- Automated trading system § Market disruption and manipulation
- High-frequency trading § Risks and controversy
- Algorithmic trading § Issues and developments
- Positive feedback § Systemic risk
- 2010 flash crash
- Black Monday (1987) § Causes
- Statistical arbitrage § StatArb and systemic risk: events of summer 2007

- Leading companies (see Quantitative fund § List of notable quantitative funds):

## Financial software tools

[edit]- Straight Through Processing Software
- Technical Analysis Software
- Algorithmic trading
- Electronic trading platform
- List of numerical-analysis software
- Comparison of numerical-analysis software

## Financial modeling applications

[edit]### Corporate Finance

[edit]- Business valuation / stock valuation - especially via discounted cash flow, but including other valuation approaches
- Scenario planning and management decision making ("what is"; "what if"; "what has to be done"
^{[1]}) - Capital budgeting, including cost of capital (i.e. WACC) calculations
- Financial statement analysis / ratio analysis (including of operating- and finance leases, and R&D)
- Revenue related: forecasting, analysis
- Project finance modeling
- Cash flow forecasting
- Credit decisioning: Credit analysis, Consumer credit risk; impairment- and provision-modeling
- Working capital- and treasury management; asset and liability management
- Management accounting: Activity-based costing, Profitability analysis, Cost analysis, Whole-life cost

### Quantitative finance

[edit]- Option pricing and calculation of their "Greeks"
- Other derivatives, especially interest rate derivatives, credit derivatives and exotic derivatives
- Modeling the term structure of interest rates (bootstrapping / multi-curves, short-rate models, HJM framework) and credit spreads
- Credit valuation adjustment, CVA, as well as the various XVA
- Credit risk, counterparty credit risk, and regulatory capital: EAD, PD, LGD, PFE
- Structured product design and manufacture
- Portfolio optimization
^{[2]}and Quantitative investing more generally; see further re optimization methods employed. - Financial risk modeling: value at risk (parametric- and / or historical, CVaR, EVT), stress testing, "sensitivities" analysis

## Financial institutions

[edit]- Bank
- Building society
- Broker
- Clearing house
- Commercial lender
- Community development financial institution
- Credit rating agency
- Credit union
- Diversified financial
- Edge Act Corporation
- Export Credit Agencies
- Financial adviser
- Financial intermediary
- Financial planner
- Futures exchange
- Government sponsored enterprise
- Hard money lender
- Independent financial adviser
- Industrial loan company
- Insurance company
- Investment adviser
- Investment company
- Investment trust
- Large and Complex Financial Institutions
- Mutual fund
- Non-banking financial company
- Savings and loan association
- Stock exchange
- Trust company

## Education

[edit]- For the typical finance career path and corresponding education requirements see:
- Financial analyst generally, and esp. § Qualification, discussing various investment, banking, and corporate roles (i.e. financial management, corporate finance, investment banking, securities analysis & valuation, portfolio & investment management, credit analysis, working capital & treasury management; see Financial modeling § Accounting)
- Quantitative analyst, Quantitative analysis (finance) § Education and Financial engineering § Education, specifically re roles in quantitative finance (i.e. derivative pricing & hedging, interest rate modeling, financial risk management, financial engineering, computational finance; also, the mathematically intensive variant on the banking roles; see Financial modeling § Quantitative finance)

- Business education lists undergraduate degrees in business, commerce, accounting and economics; "finance" may be taken as a major in most of these, whereas "quantitative finance" is almost invariably postgraduate, following a math-focused Bachelors; the most common degrees for (entry level) investment, banking, and corporate roles are:
- Bachelor of Business Administration (BBA)
- Bachelor of Commerce (BCom)
- Bachelor of Accountancy (B.Acc)
- Bachelor of Economics (B.Econ)
- Bachelor of Finance - the undergraduate version of the MSF below
- The tagged BS / BA "in Finance", or less common, "in Investment Management" or "in Personal Finance"

- At the postgraduate level, the MBA, MCom and MSM (and recently the Master of Applied Economics) similarly offer training in finance generally; at this level there are also the following specifically focused master's degrees, with MSF the broadest - see Master of Finance § Comparison with other qualifications for their focus and inter-relation:
- Master of Applied Finance (M.App.Fin)
- Master of Commerce in Finance (MCom)
- Master of Computational Finance
- Master's in Corporate Finance
- Master of Finance (M.Fin, MIF)
- Master's in Financial Analysis
- Master of Financial Economics
- Master of Financial Engineering (MFE)
- Master of Financial Planning
- Master's in Financial Management
- Master of Financial Mathematics
- Master's in Financial Risk Management
- Master's in Investment Management
- Master of Mathematical Finance
- Master of Quantitative Finance (MQF)
- Master of Science in Finance (MSF, MSc Finance)
- MS in Fintech

- Doctoral-training in finance is usually a requirement for academia, but not relevant to industry
- quants often
*enter*the profession with PhDs in disciplines such as physics, mathematics, engineering, and computer science, and learn finance "on the job” - as an academic field, finance theory is studied and developed within the disciplines of management, (financial) economics, accountancy, and applied / financial mathematics.

- quants often
- For specialized roles, there are various Professional Certifications in financial services (see #Designations and accreditation above); the best recognized are arguably:
- Association of Corporate Treasurers (MCT / FCT)
- Certificate in Quantitative Finance (CQF)
- Certified Financial Planner (CFP)
- Certified International Investment Analyst (CIIA)
- Certified Treasury Professional (CTP)
- Chartered Alternative Investment Analyst (CAIA)
- Chartered Financial Analyst (CFA)
- Chartered Wealth Manager (CWM)
- CISI Diploma in Capital Markets (MCSI)
- Financial Risk Manager (FRM)
- Professional Risk Manager (PRM)

- Various organizations offer executive education, CPD, or other focused training programs, including:
- See also qualifications in related fields:

## See also

[edit]## Related lists

[edit]- Index of accounting articles
- Outline of business management
- Outline of marketing
- Outline of economics
- Outline of production
- Index of international trade articles
- Outline of commercial law
- List of business theorists
- Outline of actuarial science

## References

[edit]**^**Joel G. Siegel; Jae K. Shim; Stephen Hartman (1 November 1997).*Schaum's quick guide to business formulas: 201 decision-making tools for business, finance, and accounting students*. McGraw-Hill Professional. ISBN 978-0-07-058031-2. Retrieved 12 November 2011. §39 "Corporate Planning Models". See also, §294 "Simulation Model".**^**See for example: Low, R.K.Y.; Faff, R.; Aas, K. (2016). "Enhancing mean–variance portfolio selection by modeling distributional asymmetries" (PDF).*Journal of Economics and Business*.**85**: 49–72. doi:10.1016/j.jeconbus.2016.01.003.; Low, R.K.Y.; Alcock, J.; Faff, R.; Brailsford, T. (2013). "Canonical vine copulas in the context of modern portfolio management: Are they worth it?" (PDF).*Journal of Banking & Finance*.**37**(8): 3085–3099. doi:10.1016/j.jbankfin.2013.02.036. S2CID 154138333.

## External links

[edit]- Prof. Aswath Damodaran - financial theory, with a focus in Corporate Finance, Valuation and Investments. Updated Data, Excel Spreadsheets.
- Web Sites for Discerning Finance Students (Prof. John M. Wachowicz) -Links to finance web sites, grouped by topic
- studyfinance.com - introductory finance web site at the University of Arizona
- SECLaw.com - law of the financial markets