Develop a clear understanding of why financial markets exist, how financial institutions serve these markets, and what services those institutions offer with Madura's best-selling FINANCIAL MARKETS AND INSTITUTIONS, 13E. Packed with today's real examples and practical applications, this engaging edition clarifies the management, performance, and regulatory aspects of financial institutions. You explore the functions of the Federal Reserve System and its recent changes, major debt and equity security markets, and the derivative security markets. Expanded coverage now discusses stock valuation, market microstructure strategies, and liquidity in today's financial markets. In addition, new content explains popular sources of funding, such as crowdfunding. Real examples connect concepts to today's financial trends as online resources in MindTap digital learning solution highlight Excel Online, an integrated eBook, Aplia homework tools, and resources for strengthening your understanding.
- CURRENT, RELEVANT EXAMPLES REINFORCE REAL-WORLD APPLICATION OF CONCEPTS. Numerous updated examples throughout this edition reflect the latest developments in today's financial world. Striking examples reinforce key concepts and clearly demonstrate the practical applications and importance of the material students are learning.
- SUBSTANTIAL END-OF-CHAPTER QUESTIONS CHECK AND REINFORCE STUDENT COMPREHENSION. Your students can check their understanding of important concepts and skills using the large variety of questions at the end of each chapter. In addition, students can use midterm and final self-examinations to ensure they fully comprehend course material.
- INTEGRATIVE PROBLEMS DEMONSTRATE HOW FINANCIAL CONCEPTS FROM EACH CHAPTER WORK TOGETHER. An integrative problem at the end of each part clearly illustrates how concepts from each of the chapters in every part work together and rely upon or impact one another.
- ONGOING FLOW OF FUNDS EXERCISE EMPHASIZES PRACTICAL APPLICATION OF USING FINANCIAL MARKETS AND SERVICES. The continuing Flow of Funds Exercise at the end of each chapter clearly illustrates how a single manufacturing company relies on all types of financial markets, institutions, and services.
- NEW, ADDITIONAL MATERIAL FOCUSES ON THE UNCERTAINTY SURROUNDING STOCK VALUATION. Students review the various methods of stock valuation and examine today's reliance on expert networks to enhance valuation estimates.
- INCREASED COVERAGE ADDRESSES TYPES OF FINANCING AND INVESTMENTS THAT HAVE SURGED IN POPULARITY IN RECENT YEARS. Students study role and significance of venture capital funds, private equity funds, and crowdfunding in today's financial markets.
- EXPANDED COVERAGE OF THE FEDERAL RESERVE SYSTEM REFLECTS SIGNIFICANT RECENT CHANGES. Your students examine specifically how the Federal Reserve System's operations, transparency, and communication to the public have changed substantially in recent years.
- NEW COVERAGE REVIEWS THE IMPORTANCE OF LIQUIDITY IN ALL FINANCIAL MARKETS. This edition details the significance of liquidity in today's financial markets as well as the actions taken by regulators to ensure greater liquidity.
- INCREASED COVERAGE EXPLORES MARKET MICROSTRUCTURE STRATEGIES. More thorough and current discussions equip students with a strong understanding of the details and strategies behind exchanges that occur in today's markets.
- MINDTAP DIGITAL RESOURCES PROVIDE NEW LEARNING TOOLS FOR STUDENTS AND TIME-SAVING SUPPORT FOR YOU. MindTap makes it easy to connect with your students. Students can organize coursework and access a range of study tools, including an eBook and apps -- all in one place. MindTap works seamlessly with this edition and now includes algorithmic practice problems from the printed text as well as Excel Online problems to help students with problem-solving using spreadsheets. In addition, new Aplia homework sets assess conceptual understanding and mastery of the material.
Part I: OVERVIEW OF THE FINANCIAL ENVIRONMENT.
1. Role of Financial Markets and Institutions.
2. Determination of Interest Rates.
3. Structure of Interest Rates.
Part II: THE FED AND MONETARY POLICY.
4. Functions of the Fed.
5. Monetary Policy.
Part III: DEBT SECURITY MARKETS.
6. Money Markets.
7. Bond Markets.
8. Bond Valuation and Risk.
9. Mortgage Markets.
Part IV: EQUITY MARKETS.
10. Stock Offerings and Investor Monitoring.
11. Stock Valuation and Risk.
12. Market Microstructure and Strategies.
Part V: DERIVATIVE SECURITY MARKETS.
13. Financial Futures Markets.
14. Options Markets.
15. Swap Markets.
16. Foreign Exchange Derivative Markets.
Part VI: COMMERCIAL BANKING.
17. Commercial Bank Operations.
18. Bank Regulation.
19. Bank Management.
20. Bank Performance.
Part VII: NONBANK OPERATIONS.
21. Thrift Operations.
22. Finance Company Operations.
23. Mutual Fund Operations.
24. Securities Operations.
25. Insurance Operations.
26. Pension Fund Operations
Appendix A: Comprehensive Project.
Appendix B: Using Excel to Conduct Analyses.
Glossary.
Index.
Jeff Madura
Jeff Madura is presently Emeritus Professor of Finance at Florida Atlantic University. He has written several successful finance texts, including Financial Markets and Institutions (now in its 13th edition). His research on international finance has been published in numerous journals, including Journal of Financial and Quantitative Analysis; Journal of Banking and Finance; Journal of Money, Credit and Banking; Journal of International Money and Finance; Financial Management; Journal of Financial Research; Financial Review; Journal of International Financial Markets, Institutions, and Money; Global Finance Journal; International Review of Financial Analysis; and Journal of Multinational Financial Management. Dr Madura has received multiple awards for excellence in teaching and research, and he has served as a consultant for international banks, securities firms, and other multinational corporations. He served as a director for the Southern Finance Association and the Eastern Finance Association, and he is also former president of the Southern Finance Association.
