The following
outline
Outline or outlining may refer to:
* Outline (list), a document summary, in hierarchical list format
* Code folding, a method of hiding or collapsing code or text to see content in outline form
* Outline drawing, a sketch depicting the outer edge ...
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 fina ...
– addresses the ways in which individuals and organizations raise and allocate monetary
resources
Resource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their a ...
over time, taking into account the
risk
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environme ...
s entailed in their projects.
Overview
The term finance may incorporate any of the following:
* The study of
money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as ...
and other
asset
In financial accountancy, 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 ...
s
* The
management
Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business.
Management includes the activities o ...
and control of those assets
* Profiling and
managing project risks
Fundamental financial concepts
*
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 fina ...
**
Arbitrage
In economics and finance, arbitrage (, ) is the practice of taking advantage of a difference in prices in two or more markets; striking a combination of matching deals to capitalise on the difference, the profit being the difference between the ...
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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, eq ...
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Capital asset pricing model
In finance, the capital asset pricing model (CAPM) is a model used to determine a theoretically appropriate required rate of return of an asset, to make decisions about adding assets to a well-diversified portfolio.
The model takes into accou ...
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Cash flow
A cash flow is a real or virtual movement of money:
*a cash flow in its narrow sense is a payment (in a currency), especially from one central bank account to another; the term 'cash flow' is mostly used to describe payments that are expected ...
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Cash flow matching Cash flow matching is a process of hedging in which a company or other entity matches its cash outflows (i.e., financial obligations) with its cash inflows over a given time horizon. It is a subset of immunization strategies in finance. Cash flow ...
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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 ...
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Default
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Consumer debt
In economics, consumer debt is the amount owed by consumers (as opposed to amounts owed by businesses or governments). It includes debts incurred on purchase of goods that are consumable and/or do not appreciate. In macroeconomic terms, it is ...
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Debt consolidation
Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a personal finance process of individuals addressing high consumer debt, but occasionally it can also refer to a cou ...
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Debt settlement
Debt settlement (also called debt reduction, debt negotiation or debt resolution) is a settlement negotiated with a debtor's unsecured creditor. Commonly, creditors agree to forgive a large part of the debt: perhaps around half, though results c ...
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Credit counseling
Credit counseling (known in the United Kingdom as Debt counseling) is commonly a process that is used to help individual debtors with debt settlement through education, budgeting and the use of a variety of tools with the goal to reduce and ultima ...
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Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor ...
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Debt diet
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Debt-snowball method
The debt snowball method is a debt-reduction strategy, whereby one who owes on more than one account pays off the accounts starting with the smallest balances first, while paying the minimum payment on larger debts. Once the smallest debt is paid ...
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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
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Real Estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...
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Securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...
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Commodities
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them.
The price of a comm ...
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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 ...
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Cash
In economics, cash is money in the physical form of currency, such as banknotes and coins.
In bookkeeping and financial accounting, cash is current assets comprising currency or currency equivalents that can be accessed immediately or near-imm ...
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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 ...
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Financial capital
Financial capital (also simply known as capital or equity in finance, accounting and economics) is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide ...
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Funding
Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm uses ...
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Entrepreneur
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values th ...
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Entrepreneurship
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values th ...
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Fixed income analysis
Fixed income analysis is the process of determining the value of a debt security based on an assessment of its risk profile, which can include interest rate risk, risk of the issuer failing to repay the debt, market supply and demand for the secu ...
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Gap financing
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Global financial system
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financ ...
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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 adjoini ...
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Basis risk
Basis risk in finance is the risk associated with imperfect hedging due to the variables or characteristics that affect the difference between the futures contract and the underlying "cash" position. It arises because of the difference between th ...
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Interest rate
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, th ...
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Risk-free interest rate
The risk-free rate of return, usually shortened to the risk-free rate, is the rate of return of a hypothetical investment with scheduled payments over a fixed period of time that is assumed to meet all payment obligations.
Since the risk-free ra ...
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Term structure of interest rates
In finance, the yield curve is a graph which depicts how the yields on debt instruments - such as bonds - vary as a function of their years remaining to maturity. Typically, the graph's horizontal or x-axis is a time line of months or ye ...
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Short-rate model
A short-rate model, in the context of interest rate derivatives, is a mathematical model that describes the future evolution of interest rates by describing the future evolution of the short rate, usually written r_t \,.
The short rate
Under a sh ...
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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 ...
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Cox–Ingersoll–Ross model
In mathematical finance, the Cox–Ingersoll–Ross (CIR) model describes the evolution of interest rates. It is a type of "one factor model" ( short-rate model) as it describes interest rate movements as driven by only one source of mark ...
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Hull–White model In financial mathematics, the Hull–White model is a model of future interest rates. In its most generic formulation, it belongs to the class of no-arbitrage models that are able to fit today's term structure of interest rates. It is relatively str ...
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Chen model
In finance, the Chen model is a mathematical model describing the evolution of interest rates. It is a type of "three-factor model" ( short-rate model) as it describes interest rate movements as driven by three sources of market risk. It was the ...
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Black–Derman–Toy model
In mathematical finance, the Black–Derman–Toy model (BDT) is a popular short-rate model used in the pricing of bond options, swaptions and other interest rate derivatives; see . It is a one-factor model; that is, a single stochastic facto ...
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Interest
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct ...
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Effective interest rate
The effective interest rate (EIR), effective annual interest rate, annual equivalent rate (AER) or simply effective rate is the percentage of interest on a loan or financial product if compound interest accumulates over a year during which no pa ...
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Nominal interest rate In finance and economics, the nominal interest rate or nominal rate of interest is the rate of interest stated on a loan or investment, without any adjustments or fees. Examples of adjustments or fees
# An adjustment for inflation(in contrast with ...
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Interest rate basis
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Fisher equation
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Crowding out
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Annual percentage rate
The term annual percentage rate of charge (APR), corresponding sometimes to a nominal APR and sometimes to an effective APR (EAPR), is the interest rate for a whole year (annualized), rather than just a monthly fee/rate, as applied on a loan, mort ...
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Interest coverage ratio
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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 i ...
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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 ...
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Gold as an investment
Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and ...
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Over-investing
Over-investing in finance, particularly personal finance, refers to the practice of investing more into an asset than what that asset is worth on the open market. It is cited most frequently in reference to expensive personal consumable investmen ...
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Leverage
Leverage or leveraged may refer to:
*Leverage (mechanics), mechanical advantage achieved by using a lever
* ''Leverage'' (album), a 2012 album by Lyriel
*Leverage (dance), a type of dance connection
*Leverage (finance), using given resources to ...
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Long (finance)
In finance, a long position in a financial instrument means the holder of the position owns a positive amount of the instrument. The holder of the position has the expectation that the financial instrument will increase in value. This is known as ...
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Liquidity
Liquidity is a concept in economics involving the convertibility of assets and obligations. It can include:
* Market liquidity, the ease with which an asset can be sold
* Accounting liquidity, the ability to meet cash obligations when due
* Liqui ...
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Margin (finance)
In finance, margin is the collateral that a holder of a financial instrument has to deposit with a counterparty (most often their broker or an exchange) to cover some or all of the credit risk the holder poses for the counterparty. This risk c ...
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Mark to market
Mark-to-market (MTM or M2M) or fair value accounting is accounting for the "fair value" of an asset or liability based on the current market price, or the price for similar assets and liabilities, or based on another objectively assessed "fair" ...
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Market impact
In financial markets, market impact is the effect that a market participant has when it buys or sells an asset. It is the extent to which the buying or selling moves the price against the buyer or seller, i.e., upward when buying and downward when ...
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Medium of exchange
In economics, a medium of exchange is any item that is widely acceptable in exchange for goods and services. In modern economies, the most commonly used medium of exchange is currency.
The origin of "mediums of exchange" in human societies is ass ...
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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 ...
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Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as ...
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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 ...
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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 def ...
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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 order t ...
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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 ...
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Counterfeit
To counterfeit means to imitate something authentic, with the intent to steal, destroy, or replace the original, for use in illegal transactions, or otherwise to deceive individuals into believing that the fake is of equal or greater value tha ...
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History of money
The history of money concerns the development throughout time of systems that provide the functions of money. Such systems can be understood as means of trading wealth indirectly; not directly as with bartering. Money is a mechanism that facilit ...
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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 ...
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Portfolio
Portfolio may refer to:
Objects
* Portfolio (briefcase), a type of briefcase
Collections
* Portfolio (finance), a collection of assets held by an institution or a private individual
* Artist's portfolio, a sample of an artist's work or a ...
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Modern portfolio theory
Modern portfolio theory (MPT), or mean-variance analysis, is a mathematical framework for assembling a portfolio of assets such that the expected return is maximized for a given level of risk. It is a formalization and extension of diversificatio ...
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Mutual fund separation theorem In portfolio theory, a mutual fund separation theorem, mutual fund theorem, or separation theorem is a theorem stating that, under certain conditions, any investor's optimal portfolio can be constructed by holding each of certain mutual funds in ap ...
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Post-modern portfolio theory Post-Modern Portfolio Theory (PMPT) is an extension of the traditional Modern Portfolio Theory (MPT), an application of mean-variance analysis (MVA). Both theories propose how rational investors can use diversification to optimize their portfolios. ...
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Reference rate A reference rate is a rate that determines pay-offs in a financial contract and that is outside the control of the parties to the contract. It is often some form of LIBOR rate, but it can take many forms, such as a consumer price index, a house pri ...
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Reset
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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 or t ...
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Absolute return
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Investment performance
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Relative return
Relative return is a measure of the return of an investment portfolio relative to a theoretical passive reference portfolio or benchmark.
In active portfolio management, the aim is to maximize the relative return (often subject to a risk constrain ...
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Risk
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environme ...
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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 ...
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Risk management
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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 ...
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Uncompensated risk In investments, uncompensated risk is the level of additional risk for which no additional return
Return may refer to:
In business, economics, and finance
* Return on investment (ROI), the financial gain after an expense.
* Rate of return, the f ...
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Risk measure
In financial mathematics, a risk measure is used to determine the amount of an asset or set of assets (traditionally currency) to be kept in reserve. The purpose of this reserve is to make the risks taken by financial institutions, such as bank ...
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Coherent risk measure
In the fields of actuarial science and financial economics there are a number of ways that risk can be defined; to clarify the concept theoreticians have described a number of properties that a risk measure might or might not have. A coherent risk ...
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Deviation risk measure In financial mathematics, a deviation risk measure is a function to quantify financial risk (and not necessarily downside risk) in a different method than a general risk measure. Deviation risk measures generalize the concept of standard deviation ...
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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 \m ...
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Spectral risk measure A Spectral risk measure is a risk measure given as a weighted average of outcomes where bad outcomes are, typically, included with larger weights. A spectral risk measure is a function of portfolio returns and outputs the amount of the numeraire (t ...
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Value at risk
Value at risk (VaR) is a measure of the risk of loss for investments. It estimates how much a set of investments might lose (with a given probability), given normal market conditions, in a set time period such as a day. VaR is typically used by ...
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Expected shortfall
Expected shortfall (ES) is a risk measure—a concept used in the field of financial risk measurement to evaluate the market risk or credit risk of a portfolio. The "expected shortfall at q% level" is the expected return on the portfolio in the wor ...
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Entropic value at risk In financial mathematics and stochastic optimization, the concept of risk measure is used to quantify the risk involved in a random outcome or risk position. Many risk measures have hitherto been proposed, each having certain characteristics. The en ...
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Scenario analysis
Scenario planning, scenario thinking, scenario analysis, scenario prediction and the scenario method all describe a strategic planning method that some organizations use to make flexible long-term plans. It is in large part an adaptation and gener ...
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Short (finance)
In finance, being short in an asset means investing in such a way that the investor will profit if the value of the asset falls. This is the opposite of a more conventional "long" position, where the investor will profit if the value of the a ...
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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 ...
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Day trading
Day trading is a form of speculation in securities in which a trader buys and sells a financial instrument within the same trading day, so that all positions are closed before the market closes for the trading day to avoid unmanageable risks an ...
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Position trader
In finance, a futures contract (sometimes called a futures) is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset ...
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Spread trade In finance, a spread trade (also known as relative value trade) is the simultaneous purchase of one security and sale of a related security, called legs, as a unit. Spread trades are usually executed with options or futures contracts as the legs, b ...
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Standard of deferred payment
In economics, standard of deferred payment is a function of money. It is the function of being a widely accepted way to value a debt, thereby allowing goods and services to be acquired now and paid for in the future.
The 19th-century economist W ...
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Store of value
A store of value is any commodity or asset that would normally retain purchasing power into the future and is the function of the asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved.
The most ...
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Time horizon
Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to co ...
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Time value of money
The time value of money is the widely accepted conjecture that there is greater benefit to receiving a sum of money now rather than an identical sum later. It may be seen as an implication of the later-developed concept of time preference.
The t ...
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Discounting
Discounting is a financial mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee.See "Time Value", "Discount", "Discount Yield", "Compound Interest", "Efficient ...
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Present value
In economics and finance, present value (PV), also known as present discounted value, is the value of an expected income stream determined as of the date of valuation. The present value is usually less than the future value because money has inte ...
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Future value
Future value is the value of an asset at a specific date. It measures the nominal future sum of money that a given sum of money is "worth" at a specified time in the future assuming a certain interest rate, or more generally, rate of return; it is ...
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Net present value
The net present value (NPV) or net present worth (NPW) applies to a series of cash flows occurring at different times. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount ...
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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 ...
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Modified internal rate of return
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Annuity
In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, mo ...
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Perpetuity
A perpetuity is an annuity that has no end, or a stream of cash payments that continues forever. There are few actual perpetuities in existence. For example, the United Kingdom (UK) government issued them in the past; these were known as conso ...
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Trade
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market.
An early form of trade, barter, saw the direct excha ...
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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 econo ...
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Free market
In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any o ...
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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 ...
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Unit of account
In economics, unit of account is one of the money functions. A unit of account is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of rela ...
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Volatility
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Yield
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Yield curve
In finance, the yield curve is a graph which depicts how the yields on debt instruments - such as bonds - vary as a function of their years remaining to maturity. Typically, the graph's horizontal or x-axis is a time line of months or ye ...
History
*
History of 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 (economics), production, Distribution (economics), distribution, and Consumption (economics) ...
*
History of banking
The history of banking began with the first prototype banks, that is, the merchants of the world, who gave grain loans to farmers and traders who carried goods between cities. This was around 2000 BCE in Assyria, India and Sumeria. Later, in anci ...
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History of insurance
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Tulip mania
Tulip mania ( nl, tulpenmanie) was a period during the Dutch Golden Age when contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels. The major acceleration started in 1634 and then ...
(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
The Mississippi Company (french: Compagnie du Mississippi; founded 1684, named the Company of the West from 1717, and the Company of the Indies from 1719) was a corporation holding a business monopoly in French colonies in North America and th ...
(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
''Vix pervenit'' was an encyclical, promulgated by Pope Benedict XIV on November 1, 1745, which condemned the practice of charging interest on loans as usury. Because the encyclical was addressed to the bishops of Italy, it is generally not cons ...
'' 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
The Erie War was a 19th-century conflict between American financiers for control of the Erie Railway Company, which owned and operated the Erie Railroad. Built with public funds raised by taxation and on land donated by public officials and priva ...
(US), 1860s
*
Long Depression
The Long Depression was a worldwide price and economic recession, beginning in 1873 and running either through March 1879, or 1896, depending on the metrics used. It was most severe in Europe and the United States, which had been experiencing st ...
, 1873–1896 (mainly US and Europe, though other parts of the world were affected)
* Post-World War I hyperinflation; see
Hyperinflation
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as t ...
and
Inflation in the Weimar Republic
Hyperinflation affected the German Papiermark, the currency of the Weimar Republic, between 1921 and 1923, primarily in 1923. It caused considerable internal political instability in the country, the occupation of the Ruhr by France and Belgium, ...
*
Wall Street Crash of 1929
The Wall Street Crash of 1929, also known as the Great Crash, was a major American stock market crash that occurred in the autumn of 1929. It started in September and ended late in October, when share prices on the New York Stock Exchange colla ...
* Great Depression 1930s
* Bretton Woods Accord 1944
* 1973 oil crisis
* 1979 energy crisis
* Savings and Loan Crisis 1980s
* Black Monday (1987), Black Monday 1987
* Asian financial crisis 1990s
* Dot-com bubble 1995-2001
* Stock market downturn of 2002
* United States housing bubble
* Financial crisis of 2007–08, followed by the Great Recession
Finance terms by field
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
** Financial ratio
* Business plan
* Capital budgeting
** Portfolio (finance), Investment policy
*** Business valuation
*** Stock valuation
*** Fundamental analysis
*** Real options
*** List of finance topics#Valuation, Valuation topics
*** Fisher separation theorem
** Capital structure, Sources of financing
**
Securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any for ...
**
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 ...
** Initial public offering
** Capital structure
** Cost of capital
*** Weighted average cost of capital
*** Modigliani–Miller theorem
*** Hamada's equation
** Dividend policy
***Dividend
*** Dividend tax
*** Dividend yield
***Modigliani–Miller theorem
* Corporate action
* (Strategic financial management, Strategic) Financial management
**Managerial finance
**Management accounting
* Mergers and acquisitions
** leveraged buyout
** takeover
** corporate raid
** Contingent value rights
*Real options
*Corporate finance#Working capital management, Working capital management
**Working capital
***Current assets
***Current liabilities
**Return on investment
***Return on capital
***Return on assets
***Return on equity
**loan covenant
**cash conversion cycle
**Cash management
***
**Inventory optimization
***Supply chain management
***Just In Time (business), Just In Time (JIT)
***Economic order quantity (EOQ)
***Economic production quantity (EPQ)
***Economic batch quantity
**Credit (finance)
**Credit scoring
**Default risk
**Discounts and allowances
**Factoring (trade) & Supply chain finance
Investment management
* Active management
* Efficient market hypothesis
*
Portfolio
Portfolio may refer to:
Objects
* Portfolio (briefcase), a type of briefcase
Collections
* Portfolio (finance), a collection of assets held by an institution or a private individual
* Artist's portfolio, a sample of an artist's work or a ...
*
Modern portfolio theory
Modern portfolio theory (MPT), or mean-variance analysis, is a mathematical framework for assembling a portfolio of assets such that the expected return is maximized for a given level of risk. It is a formalization and extension of diversificatio ...
**
Capital asset pricing model
In finance, the capital asset pricing model (CAPM) is a model used to determine a theoretically appropriate required rate of return of an asset, to make decisions about adding assets to a well-diversified portfolio.
The model takes into accou ...
* 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
*Hedge fund
* hedge (finance), Hedge
*#Quantitative investing, below
Personal finance
* 529 plan (US college savings)
* ABLE account (US plan for benefit of individuals with disabilities)
* Asset allocation
** Asset location
* Budget
* Coverdell Education Savings Account (Coverdell ESAs, formerly known as Education IRAs)
* Credit and debt
** Credit card
**
Debt consolidation
Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a personal finance process of individuals addressing high consumer debt, but occasionally it can also refer to a cou ...
** Mortgage loan
*** Continuous-repayment mortgage
* Debit card
* Direct deposit
* Employment contract
** Commission (remuneration), Commission
** Employee stock option
** Employee benefit, Employee or fringe benefit
** Health insurance
** Payroll, Paycheck
** Salary
** Wage
* Financial literacy
* Insurance
* Predatory lending
* Retirement plan
** Australia – Superannuation in Australia
** Canada
*** Registered retirement savings plan
*** Tax-free savings account
** Japan – Nippon individual savings account
** New Zealand – KiwiSaver
** United Kingdom
*** Individual savings account
*** Self-invested personal pension
** United States
*** 401(a)
*** 401(k)
*** 403(b)
*** 457 plan
*** Keogh plan
*** Individual retirement account
**** Roth IRA
**** Traditional IRA
**** SEP IRA
**** SIMPLE IRA
** Pension
* Simple living
* Social security
* Tax advantage
* Wealth
*Comparison of accounting software
*Personal financial management
*Investment club
*Collective investment scheme
Public finance
* Central bank
* Federal Reserve
* Fractional-reserve banking
** Deposit creation multiplier
* Tax
** Capital gains tax
** Estate tax (and inheritance tax)
** Gift tax
** Income tax
** Inheritance tax
** Payroll tax
** Property tax (including land value tax)
** Sales tax (including value added tax, excise tax, and use tax)
** Transfer tax (including stamp duty)
** Tax advantage
** Tax, tariff and trade
** Tax amortization benefit
*
Crowding out
* Industrial policy
* Agricultural policy
* Currency union
*
Monetary reform
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 ...
Risk management
*
Constraint finance
* Environmental finance
* Feminist economics
* Green economics
* Islamic economics
* Uneconomic growth
* Value of Earth
* Value of life
Insurance
* Actuarial science
* Annuity (financial contracts), Annuities
* Catastrophe modeling
* Earthquake loss
* Extended coverage
* Insurable interest
* Insurable risk
* Insurance
** Health insurance
*** Disability insurance
*** Accident insurance
*** Flexible spending account
*** Health savings account
*** Long term care insurance
*** Medical savings account
** Life insurance
*** Life insurance tax shelter
*** 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
*** Earthquake insurance
*** Home insurance
*** Title insurance
*** Pet insurance
*** Renters' insurance
** Casualty insurance
*** Fidelity bond
*** Liability insurance
*** Political risk insurance
*** Surety bond
*** Terrorism insurance
** Credit insurance
*** Trade credit insurance
*** Payment protection insurance
*** Credit derivative
** Mid-term adjustment
** Reinsurance
** Self insurance
** Travel insurance
** Niche insurance
* Insurance contract
* Loss payee clause
* Risk Retention Group
Economics and finance
Finance-related areas of economics
* Financial economics
* Monetary economics
* Mathematical economics
* Managerial economics
* Economic growth theory
* Decision theory
* Game theory
* Experimental economics / Experimental finance
* 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
**Tax shield
*Dividend policy
**
**Dividend policy#Walter's model, Walter model
**Gordon model
**John Lintner#Lintner's dividend policy model, Lintner model
**Dividend policy#Residuals theory of dividends, 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
***Expected commercial value
***rNPV, Risk-adjusted net present value
***Contingent claim valuation
***Real options
***Monte Carlo methods in finance#Overview, Monte Carlo methods
*Risk management
**
**Financial risk management#Economic perspective, Hedging irrelevance proposition
**Risk modeling
**Risk-adjusted return on capital
Asset pricing theory
*Value (economics)
**Fair value
**Intrinsic value (finance), Intrinsic value
**Market price
**Expected value
**Opportunity cost
**Risk premium
**#Underlying theory below
*Equilibrium price
**market efficiency
**economic equilibrium
**rational expectations
**Risk factor (finance)
*General equilibrium theory
**Supply and demand
**Competitive equilibrium
**Economic equilibrium
**Partial equilibrium
*Arbitrage-free price
**Rational pricing
***Rational pricing#Arbitrage free pricing, § Arbitrage free pricing
***Rational pricing#Risk neutral valuation, § 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
**Generalized expected utility
*Economic efficiency
**Efficient-market hypothesis
**efficient frontier
**Production–possibility frontier
**Allocative efficiency
**Pareto efficiency
**Productive efficiency
*State prices
**Arrow–Debreu model
**Stochastic discount factor
**Pricing kernel
**application:
***
***
*Fundamental theorem of asset pricing
** Rational pricing
** Arbitrage-free
**No free lunch with vanishing risk
**Self-financing portfolio
**Stochastic dominance
***Marginal conditional stochastic dominance
*Martingale pricing
**Brownian model of financial markets
**Random walk hypothesis
**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
In finance, the capital asset pricing model (CAPM) is a model used to determine a theoretically appropriate required rate of return of an asset, to make decisions about adding assets to a well-diversified portfolio.
The model takes into accou ...
***Consumption-based capital asset pricing model, Consumption-based CAPM
***Intertemporal CAPM
***Single-index model
***Multiple factor models
****Fama–French three-factor model
****Carhart four-factor model
***Arbitrage pricing theory
**Bonds; other interest rate instruments
***Vasicek model, Vasicek
***Rendleman–Bartter model, Rendleman–Bartter
***Cox–Ingersoll–Ross model, Cox–Ingersoll–Ross
*Risk neutral pricing
**Equities; foreign exchange and commodities; interest rates
***Black–Scholes model, Black–Scholes
***Black model, Black
***Garman–Kohlhagen model, Garman–Kohlhagen
***Heston model, Heston
***Constant elasticity of variance model, CEV
***SABR volatility model, SABR
**Bonds; other interest rate instruments
***Ho–Lee model, Ho–Lee
***Hull–White model, Hull–White
***Black–Derman–Toy model, Black–Derman–Toy
***Black–Karasinski model, Black–Karasinski
***Kalotay–Williams–Fabozzi model, Kalotay–Williams–Fabozzi
***Longstaff–Schwartz model, Longstaff–Schwartz
***Chen model, Chen
***Rendleman–Bartter model, Rendleman–Bartter
***Heath–Jarrow–Morton framework, Heath–Jarrow–Morton
****Cheyette model, Cheyette
***Brace-Gatarek-Musiela model, Brace–Gatarek–Musiela
****LIBOR market model
Mathematics and finance
Time value of money
*
Present value
In economics and finance, present value (PV), also known as present discounted value, is the value of an expected income stream determined as of the date of valuation. The present value is usually less than the future value because money has inte ...
*
Future value
Future value is the value of an asset at a specific date. It measures the nominal future sum of money that a given sum of money is "worth" at a specified time in the future assuming a certain interest rate, or more generally, rate of return; it is ...
*
Discounting
Discounting is a financial mechanism in which a debtor obtains the right to delay payments to a creditor, for a defined period of time, in exchange for a charge or fee.See "Time Value", "Discount", "Discount Yield", "Compound Interest", "Efficient ...
*
Net present value
The net present value (NPV) or net present worth (NPW) applies to a series of cash flows occurring at different times. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount ...
*
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 ...
*
Annuity
In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, mo ...
*
Perpetuity
A perpetuity is an annuity that has no end, or a stream of cash payments that continues forever. There are few actual perpetuities in existence. For example, the United Kingdom (UK) government issued them in the past; these were known as conso ...
Financial mathematics
Mathematical tools
*Probability
**Probability distribution
***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
**Martingale representation theorem
**Radon–Nikodym derivative
**Stochastic differential equations
**Stochastic process
***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 equations
**Finite difference method
**Heat equation
**Numerical partial differential equations
***Crank–Nicolson method
***Finite difference#Numerical analysis, Finite difference method: Numerical analysis
*
Volatility
**Autoregressive conditional heteroskedasticity#ARCH.28q.29 model Specification, ARCH model
**Autoregressive conditional heteroskedasticity#GARCH, GARCH model
**Stochastic volatility
**Stochastic volatility jump
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#Spot - forward parity, Forward contract pricing
*
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 ...
**Futures contract#Pricing, Futures contract pricing
*Option (finance), Options (incl. Real options valuation#Valuation, Real options and Employee stock option#Valuation, ESOs)
**Valuation of options
** Black–Scholes formula
*** Approximations for American options
****Barone-Adesi and Whaley
****Bjerksund and Stensland
****Black's approximation
****Optimal stopping
****Black–Scholes model#American options, Roll–Geske–Whaley
** Black model
** Binomial options model
** Finite difference methods for option pricing
** Foreign exchange option#Valuation: the Garman–Kohlhagen model, Garman–Kohlhagen model
** The Greeks (finance), The Greeks
** Lattice model (finance)
** Margrabe's formula
** Monte Carlo methods for option pricing
***Monte Carlo methods in finance
***Quasi-Monte Carlo methods in finance
***Monte Carlo methods for option pricing#Least Square Monte Carlo, Least Square Monte Carlo for American options
** Trinomial tree
**
Volatility
*** Implied volatility
*** Volatility (finance), Historical volatility
*** Volatility smile (& Volatility smile#Implied volatility surface, 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
*Swap (finance), Swaps
**Swap (finance)#Valuation and Pricing, Swap valuation
***
***
***
***
****Multi-curve framework
***
*Interest rate derivatives (bond options, swaptions, interest rate cap and floor, caps and floors, and Interest rate derivative#Types, others)
**Black model
***Interest rate cap and floor#Black model, caps and floors
***Swaption#Valuation, swaptions
***Bond option#Valuation, Bond options
**
Short-rate model
A short-rate model, in the context of interest rate derivatives, is a mathematical model that describes the future evolution of interest rates by describing the future evolution of the short rate, usually written r_t \,.
The short rate
Under a sh ...
s (generally applied via Lattice model (finance), lattice based- and Monte Carlo methods for option pricing, specialized simulation-models, although "Black like" formulae exist in some cases.)
***Rendleman–Bartter 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 ...
***Ho–Lee model
***
Hull–White model In financial mathematics, the Hull–White model is a model of future interest rates. In its most generic formulation, it belongs to the class of no-arbitrage models that are able to fit today's term structure of interest rates. It is relatively str ...
***
Cox–Ingersoll–Ross model
In mathematical finance, the Cox–Ingersoll–Ross (CIR) model describes the evolution of interest rates. It is a type of "one factor model" ( short-rate model) as it describes interest rate movements as driven by only one source of mark ...
***Black–Karasinski model
***
Black–Derman–Toy model
In mathematical finance, the Black–Derman–Toy model (BDT) is a popular short-rate model used in the pricing of bond options, swaptions and other interest rate derivatives; see . It is a one-factor model; that is, a single stochastic facto ...
***Kalotay–Williams–Fabozzi model
***Longstaff–Schwartz model
***
Chen model
In finance, the Chen model is a mathematical model describing the evolution of interest rates. It is a type of "three-factor model" ( short-rate model) as it describes interest rate movements as driven by three sources of market risk. It was the ...
**Forward interest rate, 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 framework, Heath–Jarrow–Morton Model (HJM)
***Cheyette model
*Valuation adjustments
**Credit valuation adjustment
**XVA
*
Yield curve
In finance, the yield curve is a graph which depicts how the yields on debt instruments - such as bonds - vary as a function of their years remaining to maturity. Typically, the graph's horizontal or x-axis is a time line of months or ye ...
modelling
**Multi-curve framework
**Bootstrapping (finance)
**
**
**Nelson-Siegel
**
Portfolio mathematics
*#Mathematical techniques below
*#Quantitative investing below
*
*Portfolio optimization
**Portfolio optimization#Optimization methods, § Optimization methods
**Portfolio optimization#Mathematical tools, § Mathematical tools
*Merton's portfolio problem
*Kelly criterion
*Roy's safety-first criterion
*Specific applications:
**Black–Litterman model
**Universal portfolio algorithm
**Markowitz model
**Treynor–Black model
Financial markets
Market and instruments
* Capital markets
* Security (finance), Securities
* Financial markets
* Primary market
* Initial public offering
* Aftermarket (finance), Aftermarket
*
Free market
In economics, a free market is an economic system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of government or any o ...
* Bull market
* Bear market
* Bear market rally
* Market maker
* Dow Jones Industrial Average
* Nasdaq
* List of stock exchanges
* List of stock market indices
* List of corporations by market capitalization
* Value Line Composite Index
Equity market
* Stock market
* Stock
* Common stock
* Preferred stock
* Treasury stock
* Equity investment
* Index investing
* Private Equity
* Financial reports and statements
* Fundamental analysis
* Dividend
* Dividend yield
* Stock split
Equity valuation
* Dow theory
* Elliott wave principle
* Economic value added
* Fibonacci retracement
* Gordon model
* Growth stock
** PEG ratio
** PVGO
* Mergers and acquisitions
* Leveraged buyout
* Takeover
* Corporate raid
* PE ratio
* Market capitalization
* Income per share
* Stock valuation
* Technical analysis
* Chart patterns
* V-trend
* Paper valuation
Investment theory
*Behavioral finance
*Dead cat bounce
*Efficient market hypothesis
*Market microstructure
*Stock market crash
*
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 ...
*January effect
*Mark Twain effect
*Quantitative behavioral finance
*Quantitative analysis (finance)
*Statistical arbitrage
Bond market
* Bond (finance)
* Zero-coupon bond
* Junk bonds
* Convertible bond
* Accrual bond
* Municipal bond
* Sovereign bond
* Bond valuation
** Yield to maturity
** Bond duration
** Bond convexity
* Fixed income
Money market
* Repurchase agreement
* International Money Market
*
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 def ...
* Exchange rate
* ISO 4217, International currency codes
* Table of historical exchange rates
Commodity market
* Commodity
** Asset
** Commodity Futures Trading Commission
** Trade, Commodity trade
** Drawdown (economics), Drawdowns
** Forfaiting
** Fundamental analysis
** Futures contract
** Fungibility
**
Gold as an investment
Of all the precious metals, gold is the most popular as an investment. Investors generally buy gold as a way of diversifying risk, especially through the use of futures contracts and derivatives. The gold market is subject to speculation and ...
** Hedge (finance), Hedging
** Jesse Lauriston Livermore
** List of traded commodities
** Ownership equity
** Position trader (futures), Position trader
** Risk (Futures)
** Seasonal traders
** Seasonal spread trading
** slippage (finance), Slippage
**
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 ...
**
Spread trade In finance, a spread trade (also known as relative value trade) is the simultaneous purchase of one security and sale of a related security, called legs, as a unit. Spread trades are usually executed with options or futures contracts as the legs, b ...
** Technical analysis
*** Breakout (technical analysis), Breakout
*** Bear market
*** Bottom (technical analysis)
*** Bull market
*** MACD
*** moving average (finance), Moving average
*** Open interest (futures), Open Interest
*** Parabolic SAR
*** Point and figure charts
*** Resistance (technical analysis), Resistance
*** Relative Strength Index, RSI
*** Stochastic oscillator
*** Stop loss order, Stop loss
*** Support (technical analysis), Support
*** Top (technical analysis)
**
Trade
Trade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market.
An early form of trade, barter, saw the direct excha ...
** Market trend, Trend
Derivatives market
*Derivative (finance)
*(see also List of finance topics#Mathematics and finance, Financial mathematics topics; Financial mathematics#Derivatives pricing, Derivatives pricing)
* Underlying instrument
Forward markets and contracts
* Forward contract
Futures markets and contracts
* Backwardation
* Contango
* Futures contract
** Financial future
***Currency future
***Interest rate future
***Single-stock futures
***Stock market index future
* Futures exchange
Option markets and contracts
* Option (finance), Options
** Stock option
*** Box spread (options), Box spread
*** Call option
*** Put option
*** Strike price
*** Put–call parity
*** The Greeks (finance), 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
*** Straddle
*** Option style
**** Vanilla option
**** Exotic option
**** Binary option
**** European option
***** Interest rate floor
***** Interest rate cap
**** Bermudan option
**** American option
**** Quanto option
**** Asian option
*** Employee stock option
** Warrant (finance), Warrants
** Foreign exchange option
** Interest rate options
** Bond options
** Real options
** Futures contract#Options on futures, Options on futures
Swap markets and contracts
* Swap (finance)
** Interest rate swap
** Basis swap
** Asset swap
** Forex swap
** Stock swap
** Equity swap
** Currency swap
** Variance swap
Derivative markets by underlyings
= Equity derivatives
=
*Contract for difference (CFD)
*Exchange-traded fund (ETF)
**Closed-end fund
**Inverse exchange-traded fund
*Equity options
*Equity swap
*Real estate investment trust (REIT)
*Warrant (finance), Warrants
**Covered warrant
= Interest rate derivatives
=
* LIBOR
* Forward rate agreement
* Interest rate swap
* Interest rate cap
* Exotic interest rate option
* Bond option
* Interest rate future
* Money market instruments
* Range accrual Swaps/Notes/Bonds
* In-arrears Swap
* Constant maturity swap (CMS) or Constant Treasury Swap (CTS) derivatives (swaps, caps, floors)
* Interest rate Swaption
* Bermudan swaptions
* Cross currency swaptions
* Power Reverse Dual Currency note (PRDC or Turbo)
* Target redemption note (TARN)
* CMS steepener
* Snowball
* Inverse floater
* Strips of Collateralized mortgage obligation
* 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 Reserve
* 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 (finance), 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)
** Paper valuation
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
***Accrual bond
***sinking fund provisions
*Real estate valuation
**
**Income approach
***Net Operating Income
***
***German income approach
* Equity valuation
**Results
***
Net present value
The net present value (NPV) or net present worth (NPW) applies to a series of cash flows occurring at different times. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount ...
*** Adjusted present value
*** Equivalent Annual Cost
*** Payback period
*** Discounted payback period
***
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
*** 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
** Financial ratio
** 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
***PVGO
** 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
A cash flow is a real or virtual movement of money:
*a cash flow in its narrow sense is a payment (in a currency), especially from one central bank account to another; the term 'cash flow' is mostly used to describe payments that are expected ...
** 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
In finance, the capital asset pricing model (CAPM) is a model used to determine a theoretically appropriate required rate of return of an asset, to make decisions about adding assets to a well-diversified portfolio.
The model takes into accou ...
***
***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
Financial capital (also simply known as capital or equity in finance, accounting and economics) is any economic resource measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide ...
****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 /
Investment performance
*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
The risk-free rate of return, usually shortened to the risk-free rate, is the rate of return of a hypothetical investment with scheduled payments over a fixed period of time that is assumed to meet all payment obligations.
Since the risk-free ra ...
*Leverage (finance)
*Utility function
*Intertemporal portfolio choice
*Portfolio insurance
**Constant proportion portfolio insurance
*
*Quantitative investment / Quantitative fund (see #Quantitative investing, below)
*
Uncompensated risk In investments, uncompensated risk is the level of additional risk for which no additional return
Return may refer to:
In business, economics, and finance
* Return on investment (ROI), the financial gain after an expense.
* Rate of return, the f ...
Modern portfolio theory
*Portfolio optimization
**Risk return ratio
**Risk–return spectrum
**Economic efficiency
***Efficient-market hypothesis
***Random walk hypothesis
**Utility maximization problem
**Markowitz model
**Merton's portfolio problem
**Kelly criterion
**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 In portfolio theory, a mutual fund separation theorem, mutual fund theorem, or separation theorem is a theorem stating that, under certain conditions, any investor's optimal portfolio can be constructed by holding each of certain mutual funds in ap ...
***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
In finance, the capital asset pricing model (CAPM) is a model used to determine a theoretically appropriate required rate of return of an asset, to make decisions about adding assets to a well-diversified portfolio.
The model takes into accou ...
***Single-index model
**Security market line
**Roll's critique
*Related measures
**Alpha (finance)
**Sharpe ratio
**Treynor ratio
**Jensen's alpha
*Optimization models
**Markowitz model
**Treynor–Black model
*Asset pricing#General Equilibrium Asset Pricing, Equilibrium pricing models (CAPM and extensions)
**
Capital asset pricing model
In finance, the capital asset pricing model (CAPM) is a model used to determine a theoretically appropriate required rate of return of an asset, to make decisions about adding assets to a well-diversified portfolio.
The model takes into accou ...
(CAPM)
**Consumption-based capital asset pricing model (CCAPM)
**Intertemporal CAPM (ICAPM)
**Single-index model
**Multiple factor models (see Risk factor (finance))
***Fama–French three-factor model
***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
***Stochastic dominance#Second-order, Second-order Stochastic dominance
***Marginal conditional stochastic dominance
**Downside risk
**Post-modern portfolio theory#Volatility skewness, Volatility skewness
**Variance#Semivariance, Semivariance
**
Expected shortfall
Expected shortfall (ES) is a risk measure—a concept used in the field of financial risk measurement to evaluate the market risk or credit risk of a portfolio. The "expected shortfall at q% level" is the expected return on the portfolio in the wor ...
(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 In financial mathematics, a deviation risk measure is a function to quantify financial risk (and not necessarily downside risk) in a different method than a general risk measure. Deviation risk measures generalize the concept of standard deviation ...
**
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 \m ...
**
Spectral risk measure A Spectral risk measure is a risk measure given as a weighted average of outcomes where bad outcomes are, typically, included with larger weights. A spectral risk measure is a function of portfolio returns and outputs the amount of the numeraire (t ...
*Optimization models
**Black–Litterman model
**Universal portfolio algorithm
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
**Universal portfolio algorithm
**Markowitz model
**Treynor–Black model
**Portfolio optimization#Improving portfolio optimization, other models
**Factor investing
***low-volatility investing
***value investing
***momentum investing
**Alpha generation platform
**Kelly criterion
**Roy's safety-first criterion
*Risks:
**Best execution
**Implementation shortfall
**Trading curb
**
Market impact
In financial markets, market impact is the effect that a market participant has when it buys or sells an asset. It is the extent to which the buying or selling moves the price against the buyer or seller, i.e., upward when buying and downward when ...
**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 optimization
[See 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
** Central bank
*** List of central banks
** Commercial bank
** Community development bank
** Cooperative bank
** Custodian bank
** Depository bank
** Ethical bank
** Investment bank
** Islamic banking
** Merchant bank
**
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 ...
** 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
** List of stock exchanges
* 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 recognizedare 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