Showing posts with label Business / Economics / Fin. Show all posts
Showing posts with label Business / Economics / Fin. Show all posts

3/17/2010

Review of Banking in the Great Northern Territory: An Illustrated History (Hardcover)

Written by the great-grandson of the railroad baron acquired and orchestrated the reorganization of the First National Bank of St. Paul, Banking In The Great Northern Territory is the true story of 150+ years of business and competition between the two major bank holding companies in Minneapolis and St. Paul: Northwest Bancorporation and First Bank Stock Corporation. Formed with the twin missions of protecting good banks in the area from predatory acquisition by non-area bankers and to provide a capital stronghold that would keep crucial banks open during hard times, these bank holding companies survived the test of time and even the Great Depression, when many of their competitors fell to ruin. Black-and-white and color photographs illustrate this adventurously presented history, accessible to lay readers, about the evolution of the banking business in Minnesota's capitol and the key figures behind the institutions' stability. A fascinating tour through a vital piece of Minneapolis and St. Paul history, Banking In The Great Northern Territory is very highly recommended reading.




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1/25/2010

Review of Emotion and Reason in Consumer Behavior (Hardcover)

Those who have tried teaching advertising management know the delicate balance between practice and theory that we would like to maintain. Except for the fact it is altogether too tempting to rely on practice entirely, when you examine the available textbooks. Indeed, popular advertising texts (e.g., Kleppner's Advertising Procedure) are driven by the practical (or the industry point of view) without much attention to scholarly research. At a cursory view, it seems as if that is what students want as well - to have a practitioner with years of experience as an account or creative person to teach advertising management. After all, we who know marketing should stick to the customers' needs and wants! This, though, is lamentable to many consumer behavior researchers who aspire to the ideal confluence of teaching and research in the advertising arena. Simultaneously, business schools should be something more than vocational schools that produce advertising account executives or creative directors. As we know for a fact, they come back to school, yearning for some theoretical knowledge! Especially for the graduate level, you would ideally like to provide solid theoretical grounds on how academic research can systemically contribute to the knowledge base in the advertising world.

Teaching theory-based research with the practical advertising mindset will become much easier with Chaudhuri's new book, Emotion and Reason in Consumer Behavior. Rather than relying on a general consumer behavior text (such as Hoyer and McInnis), which may already have been used for the pre-requisite course of Consumer Behavior, using this text can cover a comprehensive range of main consumer behavior topics, including attitude, involvement, and learning, while being privy to explicitly linked areas of advertising that have been rigorously investigated (mostly by the author and his co-authors).

Another interesting factor in this text is the author's unique view of integrating research on emotions into the well-known areas of consumer behavior. Many students find it easy to relate that many areas of advertising are driven more by the emotion rather than cognition. For those students, Chaudhuri's new book will ease introduction of theoretical investigation of the emotion into the advertising classroom. For example, the author's research on the CASC scale (Chaudhuri and Buck, 1995) can readily be used to encourage students to conduct more rigorous research to fit their tasks at hand. Additionally, the discussion that forms the basis of the scale, of the triune brain including neomammalian, paleomammalian, and reptilian parts, is sure to fascinate and inspire readers.

Not only is this book recommended for students, but also for practitioners. The way each piece of the relevant research is illustrated at the end of each chapter will help practitioners in the industry (even without attending graduate schools!) to better understand and utilize results of scholarly research in the areas involving emotions.

In summary, Arjun Chaudhuri's new text of Emotion and Reason in Consumer Behavior is a definite must for those who wish to bring in scholarly perspectives of emotions in advertising into their curriculum as well as for those in the industry who wish to acquire the academic perspectives in the research of emotions.




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11/30/2009

Review of Structured Finance Modeling with Object-Oriented VBA (Wiley Finance) (Hardcover)

This is an outstanding textbook on how to master the intricacies of a structured finance (especially, home-equity ABS) deal. It teaches ABS from several angles: modeling (chapter 1-4), structuring (chatper 5), and ABS analytics (chapter 6).

Although definitions and explanations about any given deal can be readily found from prospectus and prospectus supplements, for practitioners like myself, this book improves one's understanding of what's, how's and why's of any particular feature of a typical RMBS structure. This is a book I wished I had read when I started in this business.

In this book, the process of modeling a RMBS deal was shown step-by-step, with definitions, equations, tables and figures accompanying easy to understand explanations. The equations are written in a way that if is straightforward to be coded into VBA (or any other language) and be implemented.

This is a book about learning about modeling and implementing an ABS. End of chapter programming excercises reinforce the notion of learning by doing. To respond to the prior reviewer's desire of having a complete program to run and test, I believe that the only way one is going to learn a complex structure is to read, follow, implement and experiment with self-written codes. This book provides you with all the tools and explanations you need to get started in this interesting field.










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11/25/2009

Review of Learning and Practicing Econometrics (Hardcover)

This is a great beginner's textbook. Whereas some, like Greene, are going to be too hard for some beginners, and others like Gujarati are far too basic, this book strikes an excellent balance. It's best feature is all theworked examples is gives you, including the raw data used, allowing you toenter the data into a statistical package and make sure you get the sameresult. This is a great confidence builder!



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