Encyclopedia of Finance

Finance can be studied in many ways and at many levels. If, as here, we accept that the term “finance” includes financial management and corporate finance, investment analysis and portfolio management, international finance, markets and microstructures, asset pricing and the behaviour of stocks and bonds, financial institutions, derivatives, property (or real estate) and risk management, then it is easy to see why there are so many works and courses in the field. Increasingly, too, action‐based and academic research (and especially model‐based and quantitative research) is establishing itself as credible in the world of finance, building on traditional interest in mainstream...