SUP Economics

SUP Economics http://www.sup.org/rss/economics.xml The latest titles from Stanford University Press en-us Copyright 2008 Stanford University Press webmaster@www.sup.org (Webmaster) The Economics of Business Valuation: Towards a Value Functional Approach The Economics of Business Valuation: Towards a Value Functional Approach Patrick L. Anderson "This book clearly reviews the existing literature and shows the shortcomings of conceptual and practical methods that are used throughout the business and consulting world. It introduces fundamental changes that build up to an improved methodological approach and that significantly advance the 'science of valuation.'"—Fernando Torres, Chief Economist, IPmetrics LLC <center><a href="http://www.sup.org/book.cgi?id=11400">To buy this book or view bibliographic details, click here.</a></center> For decades, the market, asset, and income approaches to business valuation have taken center stage in the assessment of the firm. This book brings to light an expanded valuation toolkit, consisting of nine well-defined valuation principles hailing from the fields of economics, finance, accounting, taxation, and management. It ultimately argues that the "value functional" approach to business valuation avoids most of the shortcomings of its competitors, and more correctly matches the actual motivations and information set held by stakeholders. Much of what we know about corporate finance and mathematical finance derives from a narrow subset of firms: publicly traded corporations. The value functional approach can be readily applied to both large firms and companies that do not issue publicly traded stocks and bonds, cannot borrow without constraints, and often rely upon entrepreneurs to both finance and manage their operations. With historical side notes from an international set of sources and real-world exemplars that run throughout the text, this book is a future-facing resource for scholars in economics and finance, as well as the academically minded valuation practitioner. Patrick L. Anderson founded Anderson Economic Group in 1996 and serves as a Principal and Chief Executive Officer in the company. His recent books include Applied Game Theory and Strategic Behavior and Business, Economics, and Finance with Matlab, GIS, and Simulation Models. http://www.sup.org/rss/book_rss.cgi?id=11400 http://www.sup.org/rss/book_rss.cgi?id=11400 The Political Economy of Environmental Justice The Political Economy of Environmental Justice H. Spencer Banzhaf "This volume is vital reading to scholars with an interest in understanding the link between policies to address environmental problems and their outcomes. This book will be helpful to policymakers with an interest in improving the lives of those who are currently exposed to disproportionate effects from pollution."—James T. Hamilton, Duke University and author of Regulation Through Revelation "This is an excellent book to introduce readers to the complexities of trying to uncover causal effects in the realm of environmental justice."—Janet E. Kohlhase, University of Houston <center><a href="http://www.sup.org/book.cgi?id=20260">To buy this book or view bibliographic details, click here.</a></center> The environmental justice literature convincingly shows that poor people and minorities live in more polluted neighborhoods than do other groups. These findings have sparked a broad activist movement, numerous local lawsuits, and several federal policy reforms. Despite the importance of environmental justice, the topic has received little attention from economists. And yet, economists have much to contribute, as several explanations for the correlation between pollution and marginalized citizens rely on market mechanisms. Understanding the role of these mechanisms is crucial to designing policy remedies, for each lends itself to a different interpretation to the locus of injustices. Moreover, the different mechanisms have varied implications for the efficacy of policy responses—and who gains and loses from them. In the first book-length examination of environmental justice from the perspective of economics, a cast of top contributors evaluates why underprivileged citizens are overexposed to toxic environments and what policy can do to help. While the text engages economic methods, it is written for an interdisciplinary audience. H. Spencer Banzhaf is an Associate Professor of Economics at Georgia State University. Banzhaf is also a Research Associate in the National Bureau of Economic Research and a Senior Research Fellow at the Property and Environment Research Center. http://www.sup.org/rss/book_rss.cgi?id=20260 http://www.sup.org/rss/book_rss.cgi?id=20260 The Global Limits of Competition Law The Global Limits of Competition Law Edited by Ioannis Lianos and D. Daniel Sokol "Given the increasingly global dynamics of competition law and economics, Lianos and Sokol will make an important contribution to the field of antitrust with this new series."—Einer Elhauge, Harvard Law School "This series promises to offer a vital set of books that will fill a real need. The interaction of competition law, economics, and institutions in view of globalized markets is a critical problem of our times."—Eleanor Fox, NYU School of Law "With over 100 jurisdictions enforcing competition policy, officials need to know how to cooperate with other authorities, and undertakings devising a global strategy need to know how to comply with the requirements of many different authorities operating under different legislation. Both groups need to understand competition advocacy. Skills in both economics and law are required. Laws that suit large well-developed countries may not suit smaller or less-developed countries. The two series editors are well-known internationally in the area of competition law, and I am sure that they will attract excellent authors for the different volumes of the series. This new series of books will fill a gap and is warmly welcome."—Valentine Korah, University College London "With the growth in the number of competition agencies worldwide, there is an increasing opportunity to apply sophisticated economic reasoning to shape competition policy and make it work for the long-run interests of society. A series in global competition policy is a welcome development that should accelerate the dissemination of knowledge in this important area of policy."—Dennis Carlton, University of Chicago Booth School of Business <center><a href="http://www.sup.org/book.cgi?id=20779">To buy this book or view bibliographic details, click here.</a></center> Over the last three decades, the field of antitrust law has grown increasingly prominent, and more than one hundred countries have enacted competition law statutes. As competition law expands to jurisdictions with very different economic, social, cultural, and institutional backgrounds, the debates over its usefulness have similarly evolved. This book, the first in a new series on global competition law, critically assesses the importance of competition law, its development and modern practice, and the global limits that have emerged. This volume will be a key resource to both scholars and practitioners interested in antitrust, competition law, economics, business strategy, and administrative sciences. Ioannis Lianos is City Solicitors' Educational Trust Reader in European and Competition Law at the University College London. D. Daniel Sokol is Associate Professor of Law at the University of Florida Levin College of Law. http://www.sup.org/rss/book_rss.cgi?id=20779 http://www.sup.org/rss/book_rss.cgi?id=20779 Peerless and Periled: The Paradox of American Leadership in The World Economic Order Peerless and Periled: The Paradox of American Leadership in The World Economic Order Kati Suominen "Peerless and Periled goes right to the heart of the most substantive issues surrounding the international financial crisis, and what steps the United States must take to secure a prosperous future. Suominen's analysis will be praised by experts in current affairs, but this book excels because it is accessible to the smart and skilled everyman."—Theodore H. Moran, Georgetown University and Author of Harnessing Foreign Direct Investment for Development "The experts warn us: 'The Chinese are coming!' But Suominen demonstrates that American leadership is far less threatened by Chinese successes than by American failures. Resolute citizens and inspired leaders can overcome American shortcomings, and the nation can hold its preeminence for decades to come."—Gary Clyde Hufbauer, Reginald Jones Senior Fellow, Peterson Institute for International Economics "Kati Suominen's book of truly breathtaking scope makes a compelling case that the United States remains the linchpin of the global financial and economic system. Suominen explains the key policy steps needed to sustain American economic vitality—for the good of the U.S. and the entire world."—Phillip Swagel, Professor at the University of Maryland and former Assistant Secretary for Economic Policy, Treasury Department, 2006-2009 <center><a href="http://www.sup.org/book.cgi?id=21810">To buy this book or view bibliographic details, click here.</a></center> As the world economy emerges from the financial crisis, critics are announcing an end of the American era. The United States is said to be in an inexorable decline, and the expectation for the 21st century is for China to eclipse America and for the contours of global governance to blur. The loss of America's preeminent status will undercut our sway abroad and our safety and standard of living at home. But is America really done? Is the American era really over? In this provocative account, based on interviews with senior policymakers and cutting-edge research, Kati Suominen argues that talk of the end of Pax Americana is more smoke than fire. The international crisis did not fundamentally change the way the world is run. The G20 is but an American-created sequel to the G8, the US dollar still reigns supreme, and no country has resigned from the US-built, post-war financial institutions like the International Monetary Fund. This continuity reflects an absence of alternatives; there are no rival orders that would match the growth and globalization generated by leaving the United States at the helm. But Washington has no time for complacency. The American order is peerless, but it is also imperiled. To transcend this critical moment in history, the United States must step up and lead. Only America can uphold its order. In an interdependent world economy of rising powers, the US must stand for strategic multilateralism: striking deals with pivotal powers to tame destabilizing financial imbalances, securing free and fair markets abroad for US banks and businesses, and transforming the IMF and emerging Asian and European financial schemes into rapid responders to instability. Kati Suominen serves as Resident Fellow in Economics at the German Marshall Fund and as American Assembly's Next Generation Fellow. From 2003 to 2010, she was a Trade Economist at the Inter-American Development Bank, where she advised senior economic policymakers around the world, led the Bank's global and Asia-Pacific trade policy research, and originated and executed loans for trade and competitiveness across the Americas. She has published eight books, most recently Globalization at Risk: Challenges to Finance and Trade, and has spoken in leading business and policy forums across the Americas, Asia, and Europe. A frequent contributor to VoxEU.org, Suominen has been interviewed by CNN, Bloomberg, BBC, Financial Times, Time, US News and World Report, USA Today, Washington Post, and Politico. http://www.sup.org/rss/book_rss.cgi?id=21810 http://www.sup.org/rss/book_rss.cgi?id=21810 Breakdown in Pakistan: How Aid Is Eroding Institutions for Collective Action Breakdown in Pakistan: How Aid Is Eroding Institutions for Collective Action Masooda Bano "Bano successfully brings the voices of those most affected by aid to the fore. By specifying the mechanisms both by which aid is failing and succeeding, she convincingly makes her case."—Jean E. Ensminger, Edie and Lew Wasserman Professor of Social Science at California Institute of Technology "This book is of high relevance to current policymaking, given the amount of aid now being directed at Pakistan with the stated purpose of improving Pakistan's civil society and governance institutions. Based on strong empirical evidence, this book provides valuable documentation that aid can negatively impact indigenous service institutions in developing countries."—Sujai J. Shivakumar, The National Academies and The Samaritan's Dilemma <center><a href="http://www.sup.org/book.cgi?id=21824">To buy this book or view bibliographic details, click here.</a></center> Thirty percent of foreign development aid is channeled through NGOs or community-based organizations to improve service delivery to the poor, build social capital, and establish democracy in developing nations. However, growing evidence suggests that aid often erodes, rather than promotes, cooperation within developing nations. This book presents a rare, micro level account of the complex decision-making processes that bring individuals together to form collective-action platforms. It then examines why aid often breaks down the very institutions for collective action that it aims to promote. Breakdown in Pakistan identifies concrete measures to check the erosion of cooperation in foreign aid scenarios. Pakistan is one of the largest recipients of international development aid, and therefore the empirical details presented are particularly relevant for policy. The book's argument is equally applicable to a number of other developing countries, and has important implications for recent discussions within the field of economics. Masooda Bano holds a research fellowship in the Department of International Development and Wolfson College at the University of Oxford. Her research has won awards from the Economic and Social Research Council and the Arts and Humanities Research Council. She has collaborated with development agencies, such as the United Kingdom's Department of International Development and the United Nations. http://www.sup.org/rss/book_rss.cgi?id=21824 http://www.sup.org/rss/book_rss.cgi?id=21824 Market Menagerie: Health and Development in Late Industrial States Market Menagerie: Health and Development in Late Industrial States Smita Srinivas "Very interesting first hand research on the Indian biotechnology sector, and a fascinating review of diverse literature that the author connects in a unique way. This book speaks to the importance of integrating economic and social goals, which is particularly pertinent to developing countries."—Halla Thorsteinsdottir, Dalla Lana School of Public Health, University of Toronto "It often is presumed that economic development more or less automatically brings with it better medical care and health to the population of a country. The case of India reveals just how untrue this is. In this fine book, Srinivas describes (in fascinating detail) why recent rapid economic development in India has not led to broad improvements in health, and provides a rich analysis of what is needed for improvement."—Richard R. Nelson, Professor Emeritus and Director of the Program on Science, Technology, and Global Development at the Columbia Earth Institute, Columbia University "Smita Srinivas uniquely synthesizes three different perspectives in relation to developmental states: the provision of health services, the emergence of industrial economies, and the role of the state. Her highly original analysis constitutes a significant contribution to our understanding of the political economy of development."—Susan S. Fainstein, Harvard University and author of The Just City "The author brilliantly situates her examination in the tension between the human dimension of 'national health reform' and the challenges of 'global governance' for the multinational corporate health sector.Thisallows her to make discoveries that a less nuanced framing would not. This framing also extends the significance of the book well beyond the case of India."—Saskia Sassen, Professor, Columbia University, and author of Territory, Authority, Rights: From Medieval to Global Assemblages "With an emphasis on India, this book takes us inside the evolution of a critical sector: pharmaceuticals and biotechnology. Market Menagerie is an important reminder of the heterogeneity of states and markets that mediate the tension between industrialization and health access in developmental states."—Devesh Kapur, Director of the Center for the Advanced Study of India, University of Pennsylvania <center><a href="http://www.sup.org/book.cgi?id=21146">To buy this book or view bibliographic details, click here.</a></center> Market Menagerie examines technological advance and market regulation in the health industries of nations such as India, Brazil, South Africa, Nigeria, and China. Pharmaceutical and life science industries can reinforce economic development and industry growth, but not necessarily positive health outcomes. Yet well-crafted industrial and health policies can strengthen each other and reconcile economic and social goals. This book advocates moving beyond traditional market failure to bring together three uncommonly paired themes: the growth of industrial capabilities, the politics of health access, and the geography of production and redistribution. Smita Srinivas is Assistant Professor in the Urban Planning program and the Director of the Technological Change Lab at Columbia University in New York City. She has advised and consulted with the UN and other international agencies, and with grassroots organizations, for over a decade. http://www.sup.org/rss/book_rss.cgi?id=21146 http://www.sup.org/rss/book_rss.cgi?id=21146