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

Finance Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of ...

– 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

The term finance may incorporate any of the following: * The study of money and other

asset In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that ca ...

s * The management and control of those assets * Profiling and managing project risks

Fundamental financial concepts

** Arbitrage **

Capital (economics) In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. At the macroeconomic level, "the nation's capital stock includes buildings, e ...

** Capital asset pricing model ** Cash flow ** Cash flow matching **

Debt Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase. The d ...

***

Default Default may refer to: Law * Default (law), the failure to do something required by law ** Default (finance), failure to satisfy the terms of a loan obligation or failure to pay back a loan ** Default judgment, a binding judgment in favor of ei ...

*** Consumer debt *** Debt consolidation *** Debt settlement *** Credit counseling *** Bankruptcy *** Debt diet *** Debt-snowball method ***

Debt of developing countries The debt of developing countries usually refers to the external debt incurred by governments of developing countries. There have been several historical episodes of governments of developing countries borrowing in quantities beyond their abilit ...

**Asset types *** Real Estate *** Securities *** Commodities ***

Futures Futures may mean: Finance *Futures contract, a tradable financial derivatives contract *Futures exchange, a financial market where futures contracts are traded * ''Futures'' (magazine), an American finance magazine Music * ''Futures'' (album), a ...

*** Cash **

Discounted cash flow The discounted cash flow (DCF) analysis is a method in finance of valuing a security, project, company, or asset using the concepts of the time value of money. Discounted cash flow analysis is widely used in investment finance, real estate devel ...

** Financial capital *** Funding ** Entrepreneur *** Entrepreneurship ** Fixed income analysis **

Gap financing Gap Financing is a term mostly associated with mortgage loans or property loans such as a bridge loan A bridge loan is a type of short-term loan, typically taken out for a period of 2 weeks to 3 years pending the arrangement of larger or longer-t ...

** Global financial system **

Hedge A hedge or hedgerow is a line of closely spaced shrubs and sometimes trees, planted and trained to form a barrier or to mark the boundary of an area, such as between neighbouring properties. Hedges that are used to separate a road from adjoin ...

*** Basis risk ** Interest rate *** Risk-free interest rate *** Term structure of interest rates ** Short-rate model ***

Vasicek model In finance, the Vasicek model is a mathematical model describing the evolution of interest rates. It is a type of one-factor short-rate model as it describes interest rate movements as driven by only one source of market risk. The model can be u ...

*** Cox–Ingersoll–Ross model *** Hull–White model *** Chen model *** Black–Derman–Toy model ** Interest *** Effective interest rate *** Nominal interest rate ***

Interest rate basis In finance, a day count convention determines how interest accrues over time for a variety of investments, including bonds, notes, loans, mortgages, medium-term notes, swaps, and forward rate agreements (FRAs). This determines the number of days b ...

***

Fisher equation In financial mathematics and economics, the Fisher equation expresses the relationship between nominal interest rates and real interest rates under inflation. Named after Irving Fisher, an American economist, it can be expressed as real interest ...

*** Crowding out *** Annual percentage rate *** Interest coverage ratio **

Investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

***

Foreign direct investment A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct co ...

*** Gold as an investment *** Over-investing ** Leverage ** Long (finance) ** Liquidity ** Margin (finance) ** Mark to market ** Market impact ** Medium of exchange **

Microcredit :''This article is specific to small loans, often provided in a pooled manner. For direct payments to individuals for specific projects, see Micropatronage. For financial services to the poor, see Microfinance. For small payments, see Micropayme ...

** Money ***

Money creation Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region,Such as the Eurozone or ECCAS is increased. In most modern economies, money creation is controlled by the central bank ...

***

Currency A currency, "in circulation", from la, currens, -entis, literally meaning "running" or "traversing" is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general ...

***

Coin A coin is a small, flat (usually depending on the country or value), round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in orde ...

***

Banknote A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable instrument, negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes w ...

*** Counterfeit *** History of money ***

Monetary reform Monetary reform is any movement or theory that proposes a system of supplying money and financing the economy that is different from the current system. Monetary reformers may advocate any of the following, among other proposals: * A return t ...

** Portfolio *** Modern portfolio theory *** Mutual fund separation theorem *** Post-modern portfolio theory ** Reference rate *** Reset **

Return Return may refer to: In business, economics, and finance * Return on investment (ROI), the financial gain after an expense. * Rate of return, the financial term for the profit or loss derived from an investment * Tax return, a blank document o ...

***

Absolute return The absolute return or simply return is a measure of the gain or loss on an investment portfolio expressed as a percentage of invested capital. The adjective "absolute" is used to stress the distinction with the relative return measures often use ...

***

Investment performance Investment performance is the return on an investment portfolio. The investment portfolio can contain a single asset or multiple assets. The investment performance is measured over a specific period of time and in a specific currency. Investors o ...

*** Relative return ** Risk ***

Financial risk Financial risk is any of various types of risk associated with financing, including financial transactions that include company loans in risk of default. Often it is understood to include only downside risk, meaning the potential for financial ...

*** Risk management ****

Financial risk management Financial risk management is the practice of protecting economic value in a firm by using financial instruments to manage exposure to financial risk - principally operational risk, credit risk and market risk, with more specific variants as liste ...

**** Uncompensated risk *** Risk measure **** Coherent risk measure **** Deviation risk measure ****

Distortion risk measure In financial mathematics and economics, a distortion risk measure is a type of risk measure which is related to the cumulative distribution function of the return of a financial portfolio. Mathematical definition The function \rho_g: L^p \to ...

**** Spectral risk measure **** Value at risk ***** Expected shortfall ***** Entropic value at risk ** Scenario analysis ** Short (finance) **

Speculation In finance, speculation is the purchase of an asset (a commodity, good (economics), goods, or real estate) with the hope that it will become more valuable shortly. (It can also refer to short sales in which the speculator hopes for a decline i ...

*** Day trading ** Position trader ** Spread trade ** Standard of deferred payment ** Store of value ** Time horizon ** Time value of money *** Discounting *** Present value *** Future value *** Net present value ***

Internal rate of return Internal rate of return (IRR) is a method of calculating an investment’s rate of return. The term ''internal'' refers to the fact that the calculation excludes external factors, such as the risk-free rate, inflation, the cost of capital, or fin ...

*** Modified internal rate of return *** Annuity *** Perpetuity ** Trade ***

Free trade Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold ...

*** Free market ***

Fair trade Fair trade is an arrangement designed to help producers in developing countries achieve sustainable and equitable trade relationships. The fair trade movement combines the payment of higher prices to exporters with improved social and enviro ...

** Unit of account ** Volatility ** Yield ** Yield curve

History

* History of finance * History of banking *

History of insurance The history of insurance traces the development of the modern business of insurance against risks, especially regarding cargo, property, death, automobile accidents, and medical treatment. The insurance industry helps to eliminate risks (as w ...

* Tulip mania (Dutch Republic), 1620s/1630s *

South Sea Bubble South is one of the cardinal directions or compass points. The direction is the opposite of north and is perpendicular to both east and west. Etymology The word ''south'' comes from Old English ''sūþ'', from earlier Proto-Germanic ''*sunþaz ...

(UK) & Mississippi Company (France), 1710s; see also

Stock market bubble A stock market bubble is a type of economic bubble taking place in stock markets when market participants drive stock prices above their value in relation to some system of stock valuation. Behavioral finance theory attributes stock market bub ...

* '' Vix pervenit'' 1745, on usury and other dishonest profit *

Panic of 1837 The Panic of 1837 was a financial crisis in the United States that touched off a major depression, which lasted until the mid-1840s. Profits, prices, and wages went down, westward expansion was stalled, unemployment went up, and pessimism abound ...

(US) *

Railway Mania Railway Mania was an instance of a stock market bubble in the United Kingdom of Great Britain and Ireland in the 1840s. It followed a common pattern: as the price of railway shares increased, speculators invested more money, which further incre ...

(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 The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion ...

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 The Great Recession was a period of marked general decline, i.e. a recession, observed in national economies globally that occurred from late 2007 into 2009. The scale and timing of the recession varied from country to country (see map). At ...

Finance terms by field

Accounting (financial record keeping)

* Auditing * Accounting software * Book keeping * FASB * Financial accountancy ** Financial statements *** Balance sheet *** Cash flow statement *** Income statement * Management accounting * Philosophy of Accounting * Working capital * Hedge accounting ** IFRS 9 ** Fair value accounting

Banking

*See articles listed under:

Corporate finance

Balance sheet analysis In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business ...

Financial ratio A financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial ...

* Business plan * Capital budgeting ** Investment policy *** Business valuation *** Stock valuation *** Fundamental analysis *** Real options *** Valuation topics *** Fisher separation theorem ** Sources of financing ** Securities **

** Initial public offering ** Capital structure ** Cost of capital *** Weighted average cost of capital *** Modigliani–Miller theorem *** Hamada's equation **

Dividend policy Dividend policy is concerned with financial policies regarding paying cash dividend in the present or paying an increased dividend at a later stage. Whether to issue dividends, and what amount, is determined mainly on the basis of the company's una ...

***

Dividend A dividend is a distribution of profits by a corporation to its shareholders. When a corporation earns a profit or surplus, it is able to pay a portion of the profit as a dividend to shareholders. Any amount not distributed is taken to be re-inv ...

*** Dividend tax *** Dividend yield *** Modigliani–Miller theorem * Corporate action * (

Strategic Strategy (from Greek στρατηγία ''stratēgia'', "art of troop leader; office of general, command, generalship") is a general plan to achieve one or more long-term or overall goals under conditions of uncertainty. In the sense of the "art ...

) Financial management ** Managerial finance ** Management accounting *

Mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect ...

** leveraged buyout ** takeover ** corporate raid ** Contingent value rights * Real options * Working capital management ** Working capital *** Current assets *** Current liabilities ** Return on investment ***

Return on capital Return on capital (ROC), or return on invested capital (ROIC), is a ratio used in finance, valuation and accounting, as a measure of the profitability and value-creating potential of companies relative to the amount of capital invested by sharehold ...

*** Return on assets *** Return on equity ** loan covenant **

cash conversion cycle In management accounting, the Cash conversion cycle (CCC) measures how long a firm will be deprived of cash if it increases its investment in inventory in order to expand customer sales. It is thus a measure of the liquidity risk entailed by growt ...

** Cash management *** ** Inventory optimization ***

Supply chain management In commerce, supply chain management (SCM) is the management of the flow of goods and services including all processes that transform raw materials into final products between businesses and locations. This can include the movement and stor ...

*** Just In Time (JIT) *** Economic order quantity (EOQ) *** Economic production quantity (EPQ) ***

Economic batch quantity In inventory management, Economic Batch Quantity (EBQ), also known as Optimum Batch Quantity (OBQ) is a measure used to determine the quantity of units that can be produced at the minimum average costs in a given batch or product run. EBQ is basical ...

Credit (finance) Credit (from Latin verb ''credit'', meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a ...

** Credit scoring **

Default risk A credit risk is risk of default on a debt that may arise from a borrower failing to make required payments. In the first resort, the risk is that of the lender and includes lost principal and interest, disruption to cash flows, and increased c ...

Discounts and allowances Discounts and allowances are reductions to a basic price of goods or services. They can occur anywhere in the distribution channel, modifying either the manufacturer's list price (determined by the manufacturer and often printed on the packag ...

** Factoring (trade) &

Supply chain finance Supply chain financing (or reverse factoring) is a form of financial transaction wherein a third party facilitates an exchange by financing the supplier on the customer's behalf. Also it refers to the techniques and practices used by banks and ...

Investment management

* Active management * Efficient market hypothesis * Portfolio * Modern portfolio theory ** Capital asset pricing model * Arbitrage pricing theory * Passive management ** Index fund * Activist shareholder * Mutual fund ** Open-end fund ** Closed-end fund ** List of mutual-fund families * Financial engineering **

Long-Term Capital Management Long-Term Capital Management L.P. (LTCM) was a highly-leveraged hedge fund. In 1998, it received a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York. LTCM was founded in 1 ...

* Hedge fund *

* #Quantitative investing, below

Personal finance

* 529 plan (US college savings) * ABLE account (US plan for benefit of individuals with disabilities) * Asset allocation **

Asset location Asset location (AL) is a term used in personal finance to refer to how investors distribute their investments across savings vehicles including taxable accounts, tax-exempt accounts (e.g., TFSA, Roth IRA, ISAs, TESSAs), tax-deferred accounts (e.g. ...

* Budget * Coverdell Education Savings Account (Coverdell ESAs, formerly known as Education IRAs) * Credit and debt ** Credit card ** Debt consolidation ** Mortgage loan ***

Continuous-repayment mortgage Analogous to continuous compounding, a continuous annuity is an ordinary annuity in which the payment interval is narrowed indefinitely. A (theoretical) continuous repayment mortgage is a mortgage loan paid by means of a continuous annuity. Mo ...

Debit card A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term ''#Plastic card, plastic card'' includes the above and as an identity document. These are similar to a credi ...

* Direct deposit *

Employment contract An employment contract or contract of employment is a kind of contract used in labour law to attribute rights and responsibilities between parties to a bargain. The contract is between an "employee" and an "employer". It has arisen out of the old ...

** Commission ** Employee stock option ** Employee or fringe benefit **

Health insurance Health insurance or medical insurance (also known as medical aid in South Africa) is a type of insurance that covers the whole or a part of the risk of a person incurring medical expenses. As with other types of insurance, risk is shared among ...

** Paycheck ** Salary ** Wage * Financial literacy * Insurance * Predatory lending * Retirement plan ** Australia –

Superannuation in Australia In Australia, superannuation, or just super, is the term for retirement pension benefit funds. Employers make compulsory contributions into these funds on behalf of their employees. Superannuation is compulsory for all employed people workin ...

** Canada *** Registered retirement savings plan *** Tax-free savings account ** Japan –

Nippon individual savings account A Nippon individual savings account (NISA) is an account that is meant to help residents in Japan save money with tax-exempt benefits. It is modeled after the Individual Savings Account in the United Kingdom. History NISA was created in 2014 a ...

** New Zealand – KiwiSaver ** United Kingdom *** Individual savings account ***

Self-invested personal pension A self-invested personal pension (SIPP) is the name given to the type of UK government-approved personal pension scheme which allows individuals to make their own investment decisions from the full range of investments approved by HM Revenue and C ...

** United States ***

401(a) In the United States, a 401(a) plan is a tax-deferred retirement savings plan defined by subsection 401(a) of the Internal Revenue Code. The 401(a) plan is established by an employer, and allows for contributions by the employer or both employer an ...

*** 401(k) *** 403(b) *** 457 plan *** Keogh plan *** Individual retirement account **** Roth IRA **** Traditional IRA **** SEP IRA **** SIMPLE IRA **

Pension A pension (, from Latin ''pensiō'', "payment") is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments ...

Simple living Simple living refers to practices that promote simplicity in one's lifestyle. Common practices of simple living include reducing the number of possessions one owns, depending less on technology and services, and spending less money. Not only is ...

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

Public finance

Central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a centra ...

Federal Reserve The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a ...

Fractional-reserve banking Fractional-reserve banking is the system of banking operating in almost all countries worldwide, under which banks that take deposits from the public are required to hold a proportion of their deposit liabilities in liquid assets as a reserv ...

Deposit creation multiplier Money creation, or money issuance, is the process by which the money supply of a country, or of an economic or monetary region,Such as the Eurozone or ECCAS is increased. In most modern economies, money creation is controlled by the central bank ...

* Tax ** Capital gains tax ** Estate tax (and

inheritance tax An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. International tax law distinguishes between an es ...

) ** Gift tax ** Income tax **

Inheritance tax An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. International tax law distinguishes between an es ...

** Payroll tax ** Property tax (including land value tax) **

Sales tax A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a govern ...

(including

value added tax A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end ...

excise tax file:Lincoln Beer Stamp 1871.JPG, upright=1.2, 1871 U.S. Revenue stamp for 1/6 barrel of beer. Brewers would receive the stamp sheets, cut them into individual stamps, cancel them, and paste them over the Bunghole, bung of the beer barrel so when ...

, and use tax) ** Transfer tax (including

stamp duty Stamp duty is a tax that is levied on single property purchases or documents (including, historically, the majority of legal documents such as cheques, receipts, military commissions, marriage licences and land transactions). A physical revenu ...

) ** Tax advantage ** Tax, tariff and trade **

Tax amortization benefit In accounting, tax amortization benefit (or tax amortisation benefit) refers to the present value of income tax savings resulting from the tax deduction generated by the amortization of an intangible asset. Intangible asset valuation When the p ...

* Crowding out *

Industrial policy An industrial policy (IP) or industrial strategy of a country is its official strategic effort to encourage the development and growth of all or part of the economy, often focused on all or part of the manufacturing sector. The government takes m ...

* Agricultural policy * Currency union *

Risk management

Constraint finance

* Environmental finance * Feminist economics * Green economics * Islamic economics * Uneconomic growth * Value of Earth * Value of life

Insurance

* Actuarial science * Annuities *

Catastrophe modeling :''This article refers to the use of computers to estimate losses caused by disasters. For other meanings of the word catastrophe, including catastrophe theory in mathematics, see catastrophe (disambiguation).'' Catastrophe modeling (also known ...

Earthquake loss Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary homeowners insurance policies do not cover earthquake damage. Most earthquake insuranc ...

* Extended coverage * Insurable interest * Insurable risk * Insurance **

***

Disability insurance Disability Insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for completion of core work func ...

*** Accident insurance *** Flexible spending account *** Health savings account ***

Long term care insurance Long-term care insurance (LTC or LTCI) is an insurance product, sold in the United States, United Kingdom and Canada that helps pay for the costs associated with long-term care. Long-term care insurance covers care generally not covered by health ...

*** Medical savings account **

Life insurance Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death ...

***

Life insurance tax shelter A life insurance tax shelter uses investments in insurance to protect income or assets from tax liabilities. Life insurance proceeds are not taxable in many jurisdictions. Since most other forms of income are taxable (such as capital gains, divid ...

*** Permanent life insurance *** Term life insurance *** Universal life insurance *** Variable universal life insurance *** Whole life insurance ** Property insurance *** Auto insurance *** Boiler insurance *** Business interruption insurance ***

Condo insurance A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex ...

*** Earthquake insurance *** Home insurance *** Title insurance *** Pet insurance *** Renters' insurance ** Casualty insurance *** Fidelity bond *** Liability insurance *** Political risk insurance ***

Surety bond In finance, a surety , surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay ...

*** Terrorism insurance ** Credit insurance *** Trade credit insurance *** Payment protection insurance *** Credit derivative **

Mid-term adjustment {{distinguish, Mid-year adjustment In insurance, mid-term adjustment (MTA), also called a mid-term modification or mid-term change, refers to a change to an insurance policy prior to the end of the policy period (when coverage is offered). The cha ...

Reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own insu ...

** Self insurance ** Travel insurance **

Niche insurance Niche insurance is insurance provided for small, low-demand markets. It is outside of the usual insurance types available, such as automobile, home, life, travel, and business insurance, and can be very difficult to obtain. A few examples are: * I ...

Insurance contract In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known ...

Loss payee clause A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the ins ...

Risk Retention Group A risk retention group (RRG) in business economics is an alternative risk transfer entity in the United States created under the federal Liability Risk Retention Act (LRRA). RRGs must form as liability insurance companies under the laws of at least ...

Economics and finance

Finance-related areas of economics

* Financial economics * Monetary economics *

Mathematical economics Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics. Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference an ...

* Managerial economics *

Economic growth Economic growth can be defined as the increase or improvement in the inflation-adjusted market value of the goods and services produced by an economy in a financial year. Statisticians conventionally measure such growth as the percent rate of ...

theory * Decision theory *

Game theory Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has appli ...

* Experimental economics /

Experimental finance The goals of experimental finance are to understand human and market behavior in settings relevant to finance. Experiments are synthetic economic environments created by researchers specifically to answer research questions. This might involve, for ...

* Behavioral economics / Behavioral finance

Corporate finance theory

* Fisher separation theorem * Modigliani–Miller theorem * Theory of the firm * The Theory of Investment Value * Agency theory * Capital structure ** ** Capital structure substitution theory ** Pecking order theory ** Market timing hypothesis ** Trade-off theory of capital structure **

Merton model The Merton model, developed by Robert C. Merton in 1974, is a widely used credit risk model. Analysts and investors utilize the Merton model to understand how capable a company is at meeting financial obligations, servicing its debt, and weighing ...

** Tax shield *

** ** Walter model **

Gordon model In finance and investing, the dividend discount model (DDM) is a method of valuing the price of a company's stock based on the fact that its stock is worth the sum of all of its future dividend payments, discounted back to their present value. In ...

** Lintner model ** Residuals theory ** Clientele effect ** Dividend puzzle ** ** Dividend tax * Capital budgeting (valuation) ** ** Clean surplus accounting ** Residual income valuation ** Economic value added / Market value added ** T-model ** Adjusted present value **uncertainty ***

Penalized present value The Penalized Present Value (PPV) is a method of capital budgeting under risk developed by Fernando Gómez-Bezares in the 1980s, where the value of the investment is "penalized" as a function of its risk. Method PPV is best understood by compariso ...

*** Expected commercial value *** Risk-adjusted net present value *** Contingent claim valuation *** Real options *** Monte Carlo methods *Risk management ** ** Hedging irrelevance proposition ** Risk modeling ** Risk-adjusted return on capital

Asset pricing theory

* Value (economics) ** Fair value ** Intrinsic value ** Market price **

Expected value In probability theory, the expected value (also called expectation, expectancy, mathematical expectation, mean, average, or first moment) is a generalization of the weighted average. Informally, the expected value is the arithmetic mean of a l ...

Opportunity cost In microeconomic theory, the opportunity cost of a particular activity is the value or benefit given up by engaging in that activity, relative to engaging in an alternative activity. More effective it means if you chose one activity (for example ...

** Risk premium ** #Underlying theory below * Equilibrium price ** market efficiency ** economic equilibrium ** rational expectations ** Risk factor (finance) *

General equilibrium theory In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an ov ...

Supply and demand In microeconomics, supply and demand is an economic model of price determination in a Market (economics), market. It postulates that, Ceteris paribus, holding all else equal, in a perfect competition, competitive market, the unit price for a ...

** Competitive equilibrium ** Economic equilibrium ** Partial equilibrium * Arbitrage-free price ** Rational pricing *** § Arbitrage free pricing *** § Risk neutral valuation ** Contingent claim analysis ** Brownian model of financial markets ** Complete market & Incomplete markets * Utility ** Risk aversion ** Expected utility hypothesis ** Utility maximization problem **

Marginal utility In economics, utility is the satisfaction or benefit derived by consuming a product. The marginal utility of a Goods (economics), good or Service (economics), service describes how much pleasure or satisfaction is gained by consumers as a result o ...

** Generalized expected utility *

Economic efficiency In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: * Allocative or Pareto efficiency: any changes made to assist one person would harm another. * Productive efficiency: no addit ...

Efficient-market hypothesis The efficient-market hypothesis (EMH) is a hypothesis in financial economics that states that asset prices reflect all available information. A direct implication is that it is impossible to "beat the market" consistently on a risk-adjusted b ...

** efficient frontier **

Production–possibility frontier A production–possibility frontier (PPF), production possibility curve (PPC), or production possibility boundary (PPB), or transformation curve/boundary/frontier is a curve which shows various combinations of the amounts of two goods which can be ...

** Allocative efficiency ** Pareto efficiency ** Productive efficiency * State prices ** Arrow–Debreu model **

Stochastic discount factor The concept of the stochastic discount factor (SDF) is used in financial economics and mathematical finance. The name derives from the price of an asset being computable by "discounting" the future cash flow \tilde_i by the stochastic factor \tilde, ...

Pricing kernel Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acqui ...

**application: *** *** * Fundamental theorem of asset pricing ** Rational pricing ** Arbitrage-free ** No free lunch with vanishing risk ** Self-financing portfolio **

Stochastic dominance Stochastic dominance is a partial order between random variables. It is a form of stochastic ordering. The concept arises in decision theory and decision analysis in situations where one gamble (a probability distribution over possible outcomes, ...

***

Marginal conditional stochastic dominance In finance, marginal conditional stochastic dominance is a condition under which a portfolio can be improved in the eyes of all risk-averse investors by incrementally moving funds out of one asset (or one sub-group of the portfolio's assets) and in ...

* Martingale pricing ** Brownian model of financial markets **

Random walk hypothesis The random walk hypothesis is a financial theory stating that stock market prices evolve according to a random walk (so price changes are random) and thus cannot be predicted. History The concept can be traced to French broker Jules Regnault who pu ...

** Risk-neutral measure ** Martingale (probability theory) *** Sigma-martingale *** Semimartingale * Quantum finance

Asset pricing models

*Equilibrium pricing **Equities; foreign exchange and commodities *** Capital asset pricing model *** Consumption-based CAPM *** Intertemporal CAPM *** Single-index model *** Multiple factor models ****

Fama–French three-factor model In asset pricing and portfolio management the Fama–French three-factor model is a statistical model designed in 1992 by Eugene Fama and Kenneth French to describe stock returns. Fama and French were colleagues at the University of Chicago Booth ...

**** Carhart four-factor model *** Arbitrage pricing theory **Bonds; other interest rate instruments *** Vasicek *** Rendleman–Bartter *** Cox–Ingersoll–Ross *Risk neutral pricing **Equities; foreign exchange and commodities; interest rates *** Black–Scholes ***

Black Black is a color which results from the absence or complete absorption of visible light. It is an achromatic color, without hue, like white and grey. It is often used symbolically or figuratively to represent darkness. Black and white ha ...

*** Garman–Kohlhagen *** Heston *** CEV *** SABR **Bonds; other interest rate instruments *** Ho–Lee *** Hull–White *** Black–Derman–Toy *** Black–Karasinski *** Kalotay–Williams–Fabozzi *** Longstaff–Schwartz *** Chen *** Rendleman–Bartter *** Heath–Jarrow–Morton **** Cheyette *** Brace–Gatarek–Musiela **** LIBOR market model

Mathematics and finance

Time value of money

* Present value * Future value * Discounting * Net present value *

* Annuity * Perpetuity

Financial mathematics

Mathematical tools

Probability Probability is the branch of mathematics concerning numerical descriptions of how likely an Event (probability theory), event is to occur, or how likely it is that a proposition is true. The probability of an event is a number between 0 and ...

Probability distribution In probability theory and statistics, a probability distribution is the mathematical function that gives the probabilities of occurrence of different possible outcomes for an experiment. It is a mathematical description of a random phenomenon i ...

*** Binomial distribution *** Log-normal distribution *** Poisson distribution * Stochastic calculus ** Brownian motion *** Geometric Brownian motion ** Cameron–Martin theorem ** Feynman–Kac formula ** Girsanov's theorem **

Itô's lemma In mathematics, Itô's lemma or Itô's formula (also called the Itô-Doeblin formula, especially in French literature) is an identity used in Itô calculus to find the differential of a time-dependent function of a stochastic process. It serves a ...

** Martingale representation theorem ** Radon–Nikodym derivative ** Stochastic differential equations **

Stochastic process In probability theory and related fields, a stochastic () or random process is a mathematical object usually defined as a family of random variables. Stochastic processes are widely used as mathematical models of systems and phenomena that appea ...

*** Jump process *** Lévy process *** Markov process *** Ornstein–Uhlenbeck process *** Wiener process * Monte Carlo methods ** Low-discrepancy sequence ** Monte Carlo integration ** Quasi-Monte Carlo method ** Random number generation *

Partial differential equation In mathematics, a partial differential equation (PDE) is an equation which imposes relations between the various partial derivatives of a Multivariable calculus, multivariable function. The function is often thought of as an "unknown" to be sol ...

s ** Finite difference method **

Heat equation In mathematics and physics, the heat equation is a certain partial differential equation. Solutions of the heat equation are sometimes known as caloric functions. The theory of the heat equation was first developed by Joseph Fourier in 1822 for ...

** Numerical partial differential equations ***

Crank–Nicolson method In numerical analysis, the Crank–Nicolson method is a finite difference method used for numerically solving the heat equation and similar partial differential equations. It is a second-order method in time. It is implicit in time, can be wri ...

*** Finite difference method: Numerical analysis * Volatility ** ARCH model ** GARCH model ** Stochastic volatility **

Stochastic volatility jump In mathematical finance, the stochastic volatility jump (SVJ) model is suggested by Bates. This model fits the observed implied volatility surface well. The model is a Heston process for stochastic volatility In statistics, stochastic volatil ...

Derivatives pricing

*Underlying logic (see also #Economics and finance above) ** Rational pricing *** Risk-neutral measure *** Arbitrage-free pricing ** Brownian model of financial markets ** Martingale pricing * Forward contract ** Forward contract pricing *

** Futures contract pricing *

Options Option or Options may refer to: Computing *Option key, a key on Apple computer keyboards *Option type, a polymorphic data type in programming languages * Command-line option, an optional parameter to a command *OPTIONS, an HTTP request method ...

(incl. Real options and ESOs) ** Valuation of options ** Black–Scholes formula *** Approximations for American options **** Barone-Adesi and Whaley **** Bjerksund and Stensland ****

Black's approximation In finance, Black's approximation is an approximate method for computing the value of an American call option on a stock paying a single dividend. It was described by Fischer Black in 1975.F. Black: Fact and fantasy in the use of options, FAJ, July ...

**** Optimal stopping **** Roll–Geske–Whaley ** Black model ** Binomial options model ** Finite difference methods for option pricing **

Garman–Kohlhagen model In finance, a foreign exchange option (commonly shortened to just FX option or currency option) is a derivative (finance), derivative financial instrument that gives the right but not the obligation to exchange money denominated in one currency in ...

** The Greeks **

Lattice model (finance) In finance, a lattice model is a technique applied to the valuation of derivatives, where a discrete time model is required. For equity options, a typical example would be pricing an American option, where a decision as to option exercise is re ...

** Margrabe's formula **

Monte Carlo methods for option pricing In mathematical finance, a Monte Carlo option model uses Monte Carlo methodsAlthough the term 'Monte Carlo method' was coined by Stanislaw Ulam in the 1940s, some trace such methods to the 18th century French naturalist Buffon, and a question he as ...

*** Monte Carlo methods in finance ***

Quasi-Monte Carlo methods in finance High-dimensional integrals in hundreds or thousands of variables occur commonly in finance. These integrals have to be computed numerically to within a threshold \epsilon. If the integral is of dimension d then in the worst case, where one has a gua ...

*** Least Square Monte Carlo for American options ** Trinomial tree ** Volatility *** Implied volatility ***

Historical volatility In finance, volatility (usually denoted by ''σ'') is the degree of variation of a trading price series over time, usually measured by the standard deviation of logarithmic returns. Historic volatility measures a time series of past market prices ...

*** Volatility smile (& Volatility surface) *** Stochastic volatility **** Constant elasticity of variance model **** Heston model **** SABR volatility model *** Local volatility **** Implied binomial tree **** Implied trinomial tree **** Edgeworth binomial tree ****

Johnson binomial tree In finance, a lattice model is a technique applied to the valuation of derivatives, where a discrete time model is required. For equity options, a typical example would be pricing an American option, where a decision as to option exercise is re ...

* Swaps ** Swap valuation *** *** *** *** **** Multi-curve framework *** * Interest rate derivatives ( bond options, swaptions, caps and floors, and

others Others or The Others may refer to: Fictional characters * Others (A Song of Ice and Fire), Others (''A Song of Ice and Fire''), supernatural creatures in the fictional world of George R. R. Martin's fantasy series ''A Song of Ice and Fire'' * Ot ...

) ** Black model *** caps and floors ***

swaptions A swaption is an option granting its owner the right but not the obligation to enter into an underlying swap. Although options can be traded on a variety of swaps, the term "swaption" typically refers to options on interest rate swaps. Types of ...

*** Bond options ** Short-rate models (generally applied via lattice based- and specialized simulation-models, although "Black like" formulae exist in some cases.) ***

Rendleman–Bartter model The Rendleman–Bartter model (Richard J. Rendleman, Jr. and Brit J. Bartter) in finance is a short-rate model describing the evolution of interest rates. It is a "one factor model" as it describes interest rate movements as driven by only one so ...

***

*** Ho–Lee model *** Hull–White model *** Cox–Ingersoll–Ross model ***

Black–Karasinski model In financial mathematics, the Black–Karasinski model is a mathematical model of the term structure of interest rates; see short-rate model. It is a one-factor model as it describes interest rate movements as driven by a single source of randomness ...

*** Black–Derman–Toy model *** Kalotay–Williams–Fabozzi model *** Longstaff–Schwartz model *** Chen model ** 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 ** Credit valuation adjustment ** XVA * Yield curve modelling ** Multi-curve framework ** Bootstrapping (finance) ** ** ** Nelson-Siegel **

Portfolio mathematics

* #Mathematical techniques below * #Quantitative investing below * * Portfolio optimization ** § Optimization methods ** § Mathematical tools *

Merton's portfolio problem Merton's portfolio problem is a well known problem in continuous-time finance and in particular intertemporal portfolio choice. An investor must choose how much to consume and must allocate their wealth between stocks and a risk-free asset so as ...

Kelly criterion In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet), is a formula that determines the optimal theoretical size for a bet. It is valid when the expected returns are known. The Kelly bet size is found by maximizing the expec ...

* Roy's safety-first criterion *Specific applications: ** Black–Litterman model **

Universal portfolio algorithm The universal portfolio algorithm is a portfolio selection algorithm from the field of machine learning and information theory. The algorithm learns adaptively from historical data and maximizes the log-optimal growth rate in the long run. It was in ...

** Markowitz model **

Treynor–Black model In Finance the Treynor–Black model is a mathematical model for security selection published by Fischer Black and Jack Treynor in 1973. The model assumes an investor who considers that most securities are priced efficiently, but who believes the ...

Financial markets

Market and instruments

* Capital markets * Securities * Financial markets * Primary market * Initial public offering * Aftermarket * Free market * Bull market * Bear market *

Bear market rally A market trend is a perceived tendency of financial markets to move in a particular direction over time. Analysts classify these trends as ''secular'' for long time-frames, ''primary'' for medium time-frames, and ''secondary'' for short time-fram ...

* Market maker *

Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexe ...

Nasdaq The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

List of stock exchanges This is a list of major stock exchanges. Those futures exchanges that also offer trading in securities besides trading in futures contracts are listed both here and in the list of futures exchanges. There are sixteen stock exchanges in the world ...

* List of stock market indices * List of corporations by market capitalization * Value Line Composite Index

Equity market

Stock market A stock market, equity market, or share market is the aggregation of buyers and sellers of stocks (also called shares), which represent ownership claims on businesses; these may include ''securities'' listed on a public stock exchange, as ...

Stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

* Common stock * Preferred stock * Treasury stock * Equity investment * Index investing * Private Equity *

Financial reports Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...

and statements * Fundamental analysis *

* Dividend yield * Stock split

Equity valuation

* Dow theory * Elliott wave principle * Economic value added * Fibonacci retracement *

* Growth stock ** PEG ratio **

PVGO In corporate finance, Alex Stomper (N.D.Finance Theory I MIT OpenCourseWare the present value of growth opportunities (PVGO) is a valuation measure applied to growth stocks. It represents the component of the company’s stock value that corresp ...

* Leveraged buyout * Takeover * Corporate raid * PE ratio *

Market capitalization Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by t ...

* Income per share * Stock valuation * Technical analysis * Chart patterns * V-trend *

Paper valuation Paper Valuation is the Valuation (finance), value of privately held Share (finance), shares that is not directly tradeable at an exchange. This notional value, though, is as yet untested on real buyers. The opposite of paper value is exchangeable ...

Investment theory

* Behavioral finance * Dead cat bounce * Efficient market hypothesis * Market microstructure * Stock market crash *

* January effect *

Mark Twain effect In some stock markets, the Mark Twain effect is the phenomenon of stock returns in October being lower than in other months. The name comes from a line in Mark Twain's Pudd'nhead Wilson: "October. This is one of the peculiarly dangerous months to sp ...

Quantitative behavioral finance Quantitative behavioral finance is a new discipline that uses mathematical and statistical methodology to understand behavioral biases in conjunction with valuation. The research can be grouped into the following areas: # Empirical studies that d ...

Quantitative analysis (finance) Quantitative analysis is the use of mathematical and statistical methods in finance and investment management. Those working in the field are quantitative analysts (quants). Quants tend to specialize in specific areas which may include derivative s ...

* Statistical arbitrage

Bond market

* Bond (finance) * Zero-coupon bond * Junk bonds * Convertible bond *

Accrual bond An accrual bond is a fixed-interest bond that is issued at its face value and repaid at the end of the maturity period together with the accrued interest. In Germany, the accrued interest is compounded. In contrast to zero-coupon bonds, accrual bon ...

Municipal bond A municipal bond, commonly known as a muni, is a Bond (finance), bond issued by state or local governments, or entities they create such as authorities and special districts. In the United States, interest income received by holders of municipal ...

* Sovereign bond * Bond valuation ** Yield to maturity ** Bond duration ** Bond convexity *

Fixed income Fixed income refers to any type of investment under which the borrower or issuer is obliged to make payments of a fixed amount on a fixed schedule. For example, the borrower may have to pay interest at a fixed rate once a year and repay the prin ...

Money market

* Repurchase agreement * International Money Market *

Exchange rate In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of ...

* International currency codes *

Table of historical exchange rates Listed below is a table of historical exchange rates relative to the U.S. dollar, at present the most widely traded currency in the world.Financial GuidFX FundamentalsRetrieved on July 6, 2007 An exchange rate represents the value of one currency ...

Commodity market

* Commodity **

Asset In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that ca ...

** Commodity Futures Trading Commission ** Commodity trade ** Drawdowns ** Forfaiting ** Fundamental analysis ** Futures contract ** Fungibility ** Gold as an investment ** Hedging **

Jesse Lauriston Livermore Jesse Lauriston Livermore (July 26, 1877 – November 28, 1940) was an American stock trader. He is considered a pioneer of day trading and was the basis for the main character of ''Reminiscences of a Stock Operator'', a best-selling book by ...

** List of traded commodities ** Ownership equity ** Position trader ** Risk (Futures) **

Seasonal traders Seasonal spread traders are spread traders that take advantage of seasonal patterns by holding long and short positions in futures contracts simultaneously in the same or a related commodity markets, such as the Chicago Mercantile Exchange, the New ...

** Seasonal spread trading ** Slippage **

** Spread trade ** Technical analysis *** Breakout *** Bear market *** Bottom (technical analysis) *** Bull market ***

MACD MACD, short for moving average convergence/divergence, is a trading indicator used in technical analysis of securities prices, created by Gerald Appel in the late 1970s. It is designed to reveal changes in the strength, direction, momentum, a ...

*** Moving average *** Open Interest ***

Parabolic SAR In stock and securities market technical analysis, parabolic SAR (parabolic stop and reverse) is a method devised by J. Welles Wilder, Jr. John Welles Wilder Jr. (June 11, 1935 – April 18, 2021) was an American mechanical engineer, turned real ...

*** Point and figure charts ***

Resistance Resistance may refer to: Arts, entertainment, and media Comics * Either of two similarly named but otherwise unrelated comic book series, both published by Wildstorm: ** ''Resistance'' (comics), based on the video game of the same title ** ''T ...

*** RSI ***

Stochastic oscillator In technical analysis of securities trading, the stochastic oscillator is a momentum indicator that uses support and resistance levels. George Lane developed this indicator in the late 1950s. The term '' stochastic'' refers to the point of a cu ...

*** Stop loss ***

Support Support may refer to: Arts, entertainment, and media * Supporting character Business and finance * Support (technical analysis) * Child support * Customer support * Income Support Construction * Support (structure), or lateral support, a ...

***

Top (technical analysis) A chart pattern or price pattern is a pattern within a chart when prices are graphed. In stock and commodity markets trading, chart pattern studies play a large role during technical analysis. When data is plotted there is usually a pattern which ...

** Trade ** Trend

Derivatives market

Derivative (finance) In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be u ...

*(see also Financial mathematics topics;

Derivatives pricing In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be u ...

) *

Underlying instrument In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be use ...

Forward markets and contracts

* Forward contract

Futures markets and contracts

* Backwardation * Contango * Futures contract ** Financial future *** Currency future ***

Interest rate future An interest rate future is a financial derivative (a futures contract) with an interest-bearing instrument as the underlying asset. It is a particular type of interest rate derivative. Examples include Treasury-bill futures, Treasury-bond futures ...

*** Single-stock futures *** Stock market index future * Futures exchange

Option markets and contracts

Option Option or Options may refer to: Computing *Option key, a key on Apple computer keyboards *Option type, a polymorphic data type in programming languages *Command-line option, an optional parameter to a command *OPTIONS, an HTTP request method ...

s **

Stock option In finance, an option is a contract which conveys to its owner, the ''holder'', the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified dat ...

*** Box spread *** Call option ***

Put option In finance, a put or put option is a derivative instrument in financial markets that gives the holder (i.e. the purchaser of the put option) the right to sell an asset (the ''underlying''), at a specified price (the ''strike''), by (or at) a s ...

*** Strike price *** Put–call parity *** The Greeks *** Black–Scholes formula *** Black model *** Binomial options model *** Implied volatility *** Option time value *** Moneyness **** At-the-money **** In-the-money ****

Out-of-the-money In finance, moneyness is the relative position of the current price (or future price) of an underlying asset (e.g., a stock) with respect to the strike price of a derivative, most commonly a call option or a put option. Moneyness is firstly a thr ...

*** Straddle *** Option style **** Vanilla option **** Exotic option **** Binary option **** European option *****

Interest rate floor An interest rate cap is a type of interest rate derivative in which the buyer receives payments at the end of each period in which the interest rate exceeds the agreed strike price. An example of a cap would be an agreement to receive a payment for ...

*****

Interest rate cap An interest rate cap is a type of interest rate derivative in which the buyer receives payments at the end of each period in which the interest rate exceeds the agreed strike price. An example of a cap would be an agreement to receive a payment for ...

**** Bermudan option ****

American option In finance, the style or family of an option is the class into which the option falls, usually defined by the dates on which the option may be exercised. The vast majority of options are either European or American (style) options. These options� ...

****

Quanto option In finance, the style or family of an option is the class into which the option falls, usually defined by the dates on which the option may be exercised. The vast majority of options are either European or American (style) options. These options� ...

**** Asian option *** Employee stock option **

Warrants Warrant may refer to: * Warrant (law), a form of specific authorization ** Arrest warrant, authorizing the arrest and detention of an individual ** Search warrant, a court order issued that authorizes law enforcement to conduct a search for eviden ...

** Foreign exchange option ** Interest rate options ** Bond options ** Real options ** Options on futures

Swap markets and contracts

Swap (finance) In finance, a swap is an agreement between two counterparties to exchange financial instruments, cashflows, or payments for a certain time. The instruments can be almost anything but most swaps involve cash based on a notional principal amount.< ...

** Interest rate swap ** Basis swap ** Asset swap **

Forex swap In finance, a foreign exchange swap, forex swap, or FX swap is a simultaneous purchase and sale of identical amounts of one currency for another with two different value dates (normally spot to forward) and may use foreign exchange derivatives. A ...

Stock swap In corporate finance a stock swap is the exchange of one equity-based asset for another, where, during the merger or acquisition, the swap provides an opportunity to pay with stock rather than with cash; see . Overview The acquiring company e ...

** Equity swap ** Currency swap ** Variance swap

Derivative markets by underlyings

= Equity derivatives

= * Contract for difference (CFD) *

Exchange-traded fund An exchange-traded fund (ETF) is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges. ETFs are similar in many ways to mutual funds, except that ETFs are bought and sold from other owners throughout th ...

(ETF) ** Closed-end fund **

Inverse exchange-traded fund An inverse exchange-traded fund is an exchange-traded fund (ETF), traded on a public stock market, which is designed to perform as the ''inverse'' of whatever index or benchmark it is designed to track. These funds work by using short selling, tra ...

Equity options In finance, an option is a contract which conveys to its owner, the ''holder'', the right, but not the obligation, to buy or sell a specific quantity of an underlying asset or instrument at a specified strike price on or before a specified date ...

* Equity swap * Real estate investment trust (REIT) *

** Covered warrant

= Interest rate derivatives

= * LIBOR * Forward rate agreement * Interest rate swap *

Exotic interest rate option In finance, an interest rate derivative (IRD) is a derivative whose payments are determined through calculation techniques where the underlying benchmark product is an interest rate, or set of different interest rates. There are a multitude of diff ...

* Bond option *

* 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 * Ratchet caps and floors

= Credit derivatives

= * Credit default swap * Collateralized debt obligation * Credit default option * Total return swap * Securitization ** Strip financing

= Foreign exchange derivative

= * Basis swap * Currency future * Currency swap *Binary option#Foreign exchange, Foreign exchange binary option *Foreign exchange market#Forward, 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

* Corporate governance * Financial regulation ** Bank regulation *** Banking license * License

Designations and accreditation

* Certified Financial Planner * Chartered Financial Analyst ** CFA Institute * Chartered Alternative Investment Analyst * Professional risk manager * Chartered Financial Consultant * Canadian Securities Institute * Independent financial adviser ** Chartered Insurance Institute * Financial risk manager * Chartered Market Technician * Certified Financial Technician

Litigation

* Liabilities Subject to Compromise

Fraud

* Forex scam * Insider trading * Legal origins theory * Petition mill * Ponzi scheme

Industry bodies

* International Swaps and Derivatives Association * National Association of Securities Dealers

Regulatory bodies

International

* 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

* European Securities Committee (European Union, EU) * Committee of European Securities Regulators (European Union, EU)

Regulatory bodies by country

=United Kingdom

= * Financial Conduct Authority * Prudential Regulation Authority (United Kingdom)

=United States

= * Commodity Futures Trading Commission *

* Federal Trade Commission * Municipal Securities Rulemaking Board * Office of the Comptroller of the Currency * U.S. Securities and Exchange Commission, Securities and Exchange Commission

United States legislation

* 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

* Actuarial topics

Valuation

Underlying theory

* Value (economics) *Valuation (finance) and specifically Valuation (finance)#Valuation overview, § Valuation overview *" The Theory of Investment Value" * *Valuation risk *Real versus nominal value (economics) *Real prices and ideal prices * Fair value ** Fair value accounting * Intrinsic value * Market price *Value in use *Fairness opinion *Asset pricing (see also #Asset pricing theory above) ** Equilibrium price *** market efficiency *** economic equilibrium *** rational expectations ** Arbitrage-free price *** ***

Context

* (Corporate bond, Corporate) Bond (finance), Bonds ** Bond valuation ** ** * Stock, Equity valuation ** #Equity valuation above ** Fundamental analysis ** Stock valuation ** Business valuation ** ** ** Capital budgeting and ** '' The Theory of Investment Value'' *Real estate valuation **Real estate appraisal **Real estate economics

Considerations

*Bonds **Bond (finance)#Others, covenants and indentures **secured loan, secured / unsecured debt **senior debt, senior / subordinated debt **embedded options *Equity ** Minimum acceptable rate of return ** Margin of safety (financial) ** Enterprise value ** Sum-of-the-parts analysis ***Conglomerate discount ** Minority discount ** Control premium ** Accretion/dilution analysis ** Certainty equivalent ** Haircut (finance) **

Discounted cash flow valuation

* Bond valuation **Modeling *** *** *** ***embedded options: ****Pull to par **** **Results ***Clean price ***Dirty price *** Yield to maturity ***Coupon yield ***Current yield ***Bond duration, Duration ***Bond convexity, Convexity ***embedded options: ****Option-adjusted spread ****effective duration ****effective convexity **Cash flows ***Principal (finance) ***Coupon (bond) ***Fixed rate bond ***Floating rate note *** Zero-coupon bond ***

***sinking fund provisions *Real estate valuation ** **Income approach ***Net Operating Income *** ***German income approach * Equity valuation **Results *** Net present value *** Adjusted present value *** Equivalent Annual Cost *** Payback period *** Discounted payback period ***

*** Modified Internal Rate of Return *** Return on investment *** Profitability index **Specific models and approaches *** Dividend discount model *** Gordon growth model *** Market value added / Economic value added *** Residual income valuation *** First Chicago Method *** rNPV *** Fed model *** Chepakovich valuation model *** Sum of perpetuities method *** Benjamin Graham formula *** LBO valuation model *** Goldman Sachs asset management factor model ** Cash flows *** Cash flow forecasting *** EBIDTA *** NOPAT *** Free cash flow **** Free cash flow to firm **** Free cash flow to equity *** Dividends ***

Relative valuation

*Bonds ** ** Yield spread *** I-spread *** Option-adjusted spread *** Z-spread *** Asset swap spread ** Credit spread (bond) ***Bond credit rating ***Altman Z-score ***Ohlson O-score ***Book value ***Debt-to-equity ratio ***Debt-to-capital ratio ***Current ratio ***Quick ratio ***Debt ratio *Real estate ** Capitalization rate ** Gross rent multiplier ** Sales comparison approach *** ** Cash on cash return *Equity **

** Market-based valuation ** Comparable company analysis ** Dividend yield *** Yield gap ** Return on equity *** DuPont analysis ** PE ratio *** PEG ratio ***Cyclically adjusted price-to-earnings ratio ***

** P/B ratio ** Valuation using multiples#Equity price based multiples, Price to cash based earnings ** Stock valuation#Price to Sales (P/S), Price to Sales ** EV/EBITDA ** Stock valuation#EV to Sales, EV/Sales ** Stock valuation#Market criteria (potential price), Stock image ** Valuation using the Market Penetration Model ** Graham number ** Tobin's q

Contingent claim valuation

*Valuation techniques **general *** Valuation of options *** ***#Derivatives pricing above **as typically employed ***Real options valuation#Valuation, Real options valuation *** *** *** *** Monte Carlo methods in finance *Applications **Corporate investments and Corporate finance#Investment and project valuation, projects *** Real options *** *** Contingent value rights *** ***structured finance investments (funding dependent) ***special purpose entities (funding dependent) ** Balance sheet assets and liabilities ***Warrant (finance), warrants and other convertible security, convertible securities ***securities with embedded options such as callable bonds ***employee stock options

Other approaches

*"Fundamentals"-based (relying on accounting information) ** T-model ** Residual income valuation ** Clean surplus accounting **Valuation (finance)#Net asset value method, Net asset value method **Valuation (finance)#Net asset value method, Excess earnings method **Mergers and acquisitions#Business valuation, Historical earnings valuation **Mergers and acquisitions#Business valuation, Future maintainable earnings valuation **Graham number

Financial modeling

* Cash flow ** Cash flow forecasting ** Cash flow statement ** Operating cash flow ** EBIDTA *** ** NOPAT ** Free cash flow *** Free cash flow to firm *** Free cash flow to equity ** Dividends ** Cash is king ** Mid-year adjustment ** Owner earnings * Required rate of return, Required return (i.e. discount rate) ** ** Cost of capital ** Weighted average cost of capital **Cost of equity **Cost of debt ** Capital asset pricing model *** *** Hamada's equation ***Pure play#Pure play method, Pure play method ** Arbitrage pricing theory ** ***Total Beta ** T-model ***T-model#The cash-flow T-model, cash-flow T-model * Terminal value (finance), Terminal value ** **Forecast period (finance) **long term growth rate *** *** *Forecasted financial statements **Financial forecast ** ** **Revenue ***Revenue model *** *** ***Net sales **Costs ***Profit margin ****Gross margin ****Net margin ****Cost of goods sold ***Operating expenses ****Operating ratio ***Cost driver ***Fixed cost ***Variable cost ***Overhead cost ***Value chain ***activity based costing ***Financial analysis#Method, common-size analysis ***Profit model **Capital *** Capital structure ***Financial analysis#Method, common-size analysis ***Equity (finance) ****Equity (finance)#Shareholders' equity, Shareholders' equity ****Book value ****Retained earnings *** Financial capital ****Long term asset / Fixed asset *****Fixed-asset turnover ****Long-term liabilities *****Debt-to-equity ratio *****Debt-to-capital ratio *** Working capital ****Current asset ****Current liability ****Inventory turnover / Days in inventory, Cost of goods sold ****Debtor days, Debtor & Creditor days ****Days sales outstanding / Days payable outstanding

Portfolio theory

General concepts

*Portfolio (finance) *Portfolio manager *Investment management ** Active management ** Passive management (Buy and hold) *** Index fund **Core & Satellite **Smart beta **Expense ratio **Investment style *** Value investing *** Contrarian investing *** Growth investing **** CAN SLIM *** Index investing *** Magic formula investing *** Momentum investing *** Quality investing *** Style investing *** Factor investing **Investment strategy ***Benchmark-driven investment strategy ***Liability-driven investment strategy ** *Investor profile *Rate of return on a portfolio /

*Risk return ratio **Risk–return spectrum * Risk factor (finance) * Portfolio optimization *Diversification (finance) *Asset classes **Exter's Pyramid * Asset allocation **Tactical asset allocation ***Global tactical asset allocation **Asset allocation#Strategic asset allocation, Strategic asset allocation **Dynamic asset allocation *Sector rotation *Correlation & covariance **Covariance matrix **Covariance matrix#Correlation matrix, Correlation matrix * Risk-free interest rate *Leverage (finance) *Utility function *Intertemporal portfolio choice *Portfolio insurance **Constant proportion portfolio insurance * *Quantitative investment / Quantitative fund (see #Quantitative investing, below) * Uncompensated risk

Modern portfolio theory

* Portfolio optimization **Risk return ratio **Risk–return spectrum **

***

** Utility maximization problem ** Markowitz model **

** Roy's safety-first criterion *Theory and results (derivation of the CAPM) ** Equilibrium price ** Market price **Systematic risk *** Risk factor (finance) **Idiosyncratic risk / Specific risk **Mean-variance analysis (Two-moment decision model) **Efficient frontier (Mean variance efficiency) **Feasible region, Feasible set ** Mutual fund separation theorem ***Separation property (finance) **Tangent portfolio **Market portfolio **Beta (finance) ***Fama–MacBeth regression *** Hamada's equation *** **Capital allocation line **Capital market line **Security characteristic line ** Capital asset pricing model *** Single-index model **Security market line **Roll's critique *Related measures **Alpha (finance) **Sharpe ratio **Treynor ratio **Jensen's alpha *Optimization models ** Markowitz model **

*Asset pricing#General Equilibrium Asset Pricing, Equilibrium pricing models (CAPM and extensions) ** Capital asset pricing model (CAPM) **Consumption-based capital asset pricing model (CCAPM) ** Intertemporal CAPM (ICAPM) ** Single-index model ** Multiple factor models (see Risk factor (finance)) ***

*** Carhart four-factor model *** Arbitrage pricing theory (APT)

Post-modern portfolio theory

*Approaches **Behavioral portfolio theory **Stochastic portfolio theory **Maslowian portfolio theory **Dedicated portfolio theory (fixed income specific) **Risk parity **Tail risk parity *Optimization considerations ** Pareto efficiency **Bayesian efficiency **Multiple-criteria decision analysis **Multi-objective optimization **

***Stochastic dominance#Second-order, Second-order Stochastic dominance ***

**Downside risk **Post-modern portfolio theory#Volatility skewness, Volatility skewness **Variance#Semivariance, 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 **Dual-beta ***Downside beta ***Upside beta **Upside potential ratio **Upside risk **Downside risk **Sortino ratio **Omega ratio **Bias ratio **Information ratio ***Active return ***Active risk ** Deviation risk measure **

** Spectral risk measure *Optimization models ** Black–Litterman model **

Performance measurement

*Performance attribution **Market timing **Stock selection criterion, Stock selection *Fixed-income attribution *Performance attribution#Validity of benchmarks, Benchmark *Lipper average *Returns-based style analysis *Rate of return on a portfolio *Holding period return *Tracking error *Alpha (finance) *Beta (finance) *Simple Dietz method *Modified Dietz method *Modigliani risk-adjusted performance *Upside potential ratio *Maximum Downside Exposure (MDE), Maximum Downside Exposure *Maximum drawdown **Sterling ratio *Sharpe ratio *Treynor ratio *Jensen's alpha *Bias ratio *V2 ratio *Calmar ratio (hedge fund specific)

Mathematical techniques

* *Quadratic programming **Critical line method *Nonlinear programming *Mixed integer programming *Stochastic programming (Stochastic programming#Multistage portfolio optimization, § Multistage portfolio optimization) *Copula (probability theory) (Copula (probability theory)#Quantitative finance, § Quantitative finance) *Principal component analysis (Principal component analysis#Quantitative finance, § Quantitative finance) *Deterministic global optimization *Genetic algorithm () *Machine learning (Machine learning#Applications, § Applications) *Artificial neural network *

Quantitative investing

*Quantitative investing *Quantitative fund * and Quantitative analysis (finance)#Algorithmic trading quantitative analyst, § Algorithmic trading quantitative analyst *Trading: **Automated trading **High-frequency trading **Algorithmic trading **Program trading **Systematic trading *** **Trading strategy **Mirror trading **Copy trading **Social trading **VWAP **TWAP **Electronic trading platform ** Statistical arbitrage *Portfolio optimization: ** ** ** Black–Litterman model **

** Markowitz model **

**Portfolio optimization#Improving portfolio optimization, other models **Factor investing ***low-volatility investing ***value investing ***momentum investing **Alpha generation platform **

** Roy's safety-first criterion *Risks: **Best execution **Implementation shortfall **Trading curb ** Market impact **Market depth **Slippage (finance) **Transaction costs *Discussion: ** ** ** ** **2010 flash crash ** ** *Leading companies: **Prediction Company **Renaissance Technologies **D. E. Shaw & Co **AQR Capital **Barclays Investment Bank **Cantab Capital Partners **Robeco **Jane Street Capital

Financial software tools

* Straight Through Processing Software * Technical Analysis Software (Finance), Technical Analysis Software * Fundamental Analysis Software * Algorithmic trading * Electronic trading platform * List of numerical-analysis software * Comparison of numerical-analysis software

Financial modeling applications

Corporate Finance

* Business valuation / stock valuation - especially via Valuation using discounted cash flows, discounted cash flow, but including Valuation (finance)#Valuation overview, other valuation approaches *Scenario planning and Management accounting#Role within a corporation, management decision making ("what is"; "what if"; "what has to be done" §39 "Corporate Planning Models". See also, §294 "Simulation Model".) * Capital budgeting, including cost of capital (i.e. Weighted average cost of capital, WACC) calculations *Financial statement analysis / Financial ratio, ratio analysis (including of Operating lease, operating- and finance leases, and Research and development, R&D) *Revenue related: Revenue management#Forecasting, forecasting, Revenue#Financial statement analysis, analysis *Project finance modeling *Cash flow forecasting *Credit decisioning: Credit analysis, Consumer credit risk; Impairment (financial reporting), impairment- and Provision (accounting), provision-modeling *working capital management, Working capital- and treasury management; asset and liability management *Management accounting: Activity-based costing, Profitability analysis, Cost analyst, Cost analysis, Whole-life cost

Quantitative finance

*Valuation of options, Option pricing and calculation of Greeks (finance), their "Greeks" *Other derivative (finance), derivatives, especially interest rate derivatives, credit derivatives and exotic derivatives *Modeling the term structure of interest rates (Bootstrapping (finance), bootstrapping / multi-curve framework, multi-curves, short-rate models, Heath–Jarrow–Morton framework, HJM framework) and credit spread (bond), credit spreads * Credit valuation adjustment, CVA, as well as the various XVA *Credit risk, counterparty credit risk, and regulatory capital: exposure at default, EAD, probability of default, PD, loss given default, LGD, potential future exposure, PFE *Structured product#Product design and manufacture, Structured product design and manufacture * Portfolio optimizationSee for example: ; and Quantitative investing more generally; see further re Portfolio optimization#Optimization methods, optimization methods employed. *Financial risk modeling: value at risk (Value at risk#Computation methods, parametric- and / or Historical simulation (finance), historical, conditional value at risk, CVaR, extreme value theory, EVT), stress test (financial), stress testing, PnL Explained#Sensitivities method, "sensitivities" analysis

Financial institutions

Financial institutions * Bank ** List of banks *** List of banks in the Arab World *** List of banks in Africa *** List of banks in the Americas *** List of banks in Asia *** List of banks in Europe *** List of banks in Oceania *** List of international banking institutions ** Advising bank **

*** List of central banks ** Commercial bank ** Community development bank ** Cooperative bank ** Custodian bank ** Depository bank ** Ethical bank ** Investment bank ** Islamic banking ** Merchant bank **

** Mutual savings bank ** National bank ** Offshore bank ** Private bank ** Savings bank ** Swiss bank ** Bank holding company * Building society * Broker ** Broker-dealer ** Brokerage firm ** Commodity broker ** Insurance broker ** Prime brokerage ** Retail broker ** Stockbroker * Clearing house (finance), Clearing house * Commercial Loan, 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 ** List of futures exchanges * 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

*For the typical finance career path and corresponding education requirements see: **Financial analyst generally, and esp. Financial analyst#Qualification, § 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 ) **Quantitative analyst, and , 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 ) *Business education lists undergraduate degrees in business, commerce, accounting and economics; "finance" may be taken as a academic major, major in most of these, whereas "quantitative finance" is almost invariably postgraduate, following a Mathematics education#Content and age levels, 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) **The tagged degree, tagged Bachelor of Science, BS / Bachelor of Arts, BA "in Finance" - the undergraduate version of the MSF below - or less common, Investment management#Education or certification, "in Investment Management" or "in Personal Finance" *At Business education#Postgraduate education, the postgraduate level, the MBA, master of commerce, MCom and Master of Science in Management, 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 for their focus and inter-relation: **Master of Applied Finance (M.App.Fin) **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 of Quantitative Finance, 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) **Master of Science in Global Finance *Business education#Doctoral, Doctoral-training in finance is usually a requirement for academia, but not relevant to industry **quants often ''enter'' the profession with Doctor of Philosophy, PhDs in disciplines such as physics, mathematics, engineering, and computer science, and learn finance "on the job” **as List of fields of doctoral studies in the United States#Business management/administration, an academic field, finance theory is studied and developed within the disciplines of management, (financial economics, financial) economics, accountancy, and applied mathematics, applied / financial mathematics. *For specialized roles, there are various Professional certification in financial services, Professional Certifications in financial services (see #Designations and accreditation above); th
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) **Professional_certification_in_financial_services#Chartered_Wealth_Manager, Chartered Wealth Manager (CWM) **CISI Diploma, CISI Diploma in Capital Markets (MCSI) **Financial Risk Manager (FRM) **Professional Risk Manager (PRM) *Various organizations offer executive education, Continuing professional development, CPD, or other focused training programs, including: **Amsterdam Institute of Finance **Canadian Securities Institute **Chartered Institute for Securities & Investment **Global Association of Risk Professionals, GARP **ICMA Centre **The London Institute of Banking & Finance **New York Institute of Finance **PRMIA **South African Institute of Financial Markets **Swiss Finance Institute *See also qualifications in related fields: ** **Actuarial credentialing and exams **Business education ** **Economics education **

Related lists

* Index of accounting articles * Outline of business management * Outline of marketing * Outline of economics * Outline of production * List of international trade topics * List of business law topics * List of business theorists * Actuarial topics

References

External links

Wharton Finance Knowledge Project
– finance knowledge for students, teachers, and self-learners.
Prof. Aswath Damodaran
- financial theory, with a focus in Corporate Finance, Valuation and Investments. Updated Data, Excel Spreadsheets.

(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

- stock market related definitions {{DEFAULTSORT:Finance Outlines of economics, Finance Wikipedia outlines, Finance Finance lists, Business terms, Finance topics