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Financing the Future: Market-Based Innovations for Growth

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Financing the Future: Market-Based Innovations for Growth

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Description

  • Copyright 2010
  • Edition: 1st
  • eBook (Watermarked)
  • ISBN-10: 0-13-708334-3
  • ISBN-13: 978-0-13-708334-3

Financial innovation can drive social, economic, and environmental change, transforming ideas into new technologies, industries, and jobs. But when it is misunderstood or mismanaged, the consequences can be severe. In this practical, accessible book, two leading experts explain how sophisticated capital structures can enable companies and individuals to raise funding in larger amounts for longer terms and at lower cost—accomplishing tasks that would otherwise be impossible.

The authors recount the history and basic principles of financial innovation, showing how new instruments have evolved, and how they have been used and misused. They thoroughly demystify complex capital structures, offering a practical toolbox for entrepreneurs, corporate executives, and policymakers.

Financing the Future presents clear, thorough discussions of the current role of financial innovation in capitalizing businesses, industries, breakthrough technologies, housing solutions, medical treatments, and environmental projects. It also presents a full chapter of lessons learned: essential insights for stabilizing the economy and avoiding pitfalls.

Distinguishing genuine innovation from dangerous copycats

Crafting sustainable financial innovations that add value and manage risk

The best tools for the job: choosing them, customizing them, using them

Selecting the right instruments and structures, and making the most of them

Financial innovations for business, housing, and medical research

Finding new and better ways to promote entrepreneurship and advance social goals

Innovating to save the planet and help humanity

The power of finance to protect natural resources and alleviate global poverty

  

This is the first in a new series of books on financial innovation, published through a collaboration between Wharton School Publishing and the Milken Institute. Future titles will focus on specific policy areas such as housing and medical research.

The Milken Institute is an independent economic think tank whose mission is to improve the lives and economic conditions of diverse populations in the United States and around the world by helping business and public policy leaders identify and implement innovative ideas for creating broad-based prosperity. It puts research to work with the goal of revitalizing regions and finding new ways to generate capital for people with original ideas.

Sample Content

Table of Contents

Acknowledgments     vi

About the Authors     ix

About Milken Institute     xi

Chapter 1   The Evolution of Finance     1

Chapter 2   A Framework for Financial Innovation: Managing Capital Structure     27

Chapter 3   Innovations in Business Finance     51

Chapter 4   Innovations in Housing Finance     85

Chapter 5   Environmental Finance: Innovating to Save the Planet     117

Chapter 6   Financing the Developing World     149

Chapter 7   Financing Cures     185

Chapter 8   Six Cardinal Rules of Financial Innovation     215

Appendix   The Black-Scholes Formula     225

Index     227

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