tailieunhanh - Foundations of Financial Markets and Institution - 4th edition

Measuring the institutional foundations of financial markets is essential for understanding its determinants, and help design better policies • Indices of the rule of law, creditor rights and information, business transparency, and the quality of infrastructure are associated with deeper and more efficient financial markets • In banking and securities markets, characteristics related to private monitoring and enforcement drive development more than public enforcement measures | FOUNDATIONS OF FINANCIAL MARKETS AND INSTITUTIONS Fourth Edition FOURTH EDITION Foundations of Financial Markets and JnstifU-tions Frank J. Fabozzi Yale School of Management Franco Modigliani Sloan School of Management Massachusetts Institute of Technology Frank J. Jones College of Business San Jose State University Prentice Hall iton San Francisco New York London Toronto Sydney T kyo Singapore Madrid Mexico City Munich Paris Cape Town Hong Kong Montreal Library of Congress Cataloging- in-Publication Data Fabozzi Frank J. Foundations of financial markets and institutions Frank J. Fabozzi Franco Modigliani Frank J. Jones. 4th ed. p. cm. ISBN-13 978-0-13-613531-9 ISBN-10 0-13-613531-5 1. Finance. 2. Financial institutions. I. Modigliani Franco. II. Jones. Frank Joseph. III. Title. 2009 dc22 2008050364 Editor in Chief Donna Battista Assistant Editor Mary Kate Murray Managing Editor Jeff Holcomb Senior Production Supervisor Marilyn Lloyd Media Project Manager Holly Wallace Bastier Senior Manufacturing Buyer Carol Melville Permissions Supervisor Charles Morris Project Management Andrea Shearer Composition Illustrations and Alterations GGS Higher Education Resources a Division of PreMedia Global Inc. Text Design Susan Raymond Cover Designer Elena Sidorova Cover Image Jeff Spielman Getty Images Credits and acknowledgments borrowed from other sources and reproduced with permission in this textbook appear on the appropriate page within the text. Copyright c 2010 Pearson Education Inc. All rights reserved. No part of this publication may be reproduced stored in a retrieval system or transmitted in any form or by any means electronic mechanical photocopying recording or otherwise without the prior written permission of the publisher. Printed in the United States of America. For information on obtaining permission for use of material in this work please submit a written request to Pearson Education Inc. Rightsand Contracts Department 501 Boylston Street Suite .