Stochastic Calculus and Financial Applications or Corporate Entrepreneurship Innovation

Stochastic Calculus and Financial Applications

Author: J M Steel

The Wharton School course on which the book is based is designed for energetic students who have had some experience with probability and statistics, but who have not had advanced courses in stochastic processes. Even though the course assumes only a modest background, it moves quickly and - in the end - students can expect to have the tools that are deep enough and rich enough to be relied upon throughout their professional careers.

The course begins with simple random walk and the analysis of gambling games. This material is used to motivate the theory of martingales, and, after reaching a decent level of confidence with discrete processes, the course takes up the more demanding development of continuous time stochastic process, especially Brownian motion. The construction of Brownian motion is given in detail, and enough material on the subtle properties of Brownian paths is developed so that the student should sense of when intuition can be trusted and when it cannot. The course then takes up the It' integral and aims to provide a development that is honest and complete without being pedantic. With the It' integral in hand, the course focuses more on models. Stochastic processes of importance in Finance and Economics are developed in concert with the tools of stochastic calculus that are needed in order to solve problems of practical importance. The financial notion of replication is developed, and the Black-Scholes PDE is derived by three different methods. The course then introduces enough of the theory of the diffusion equation to be able to solve the Black-Scholes PDE and prove the uniqueness of the solution.

Interesting book: Weight Watchers Simply the Best or Guide to Healthy Restaurant Eating

Corporate Entrepreneurship & Innovation

Author: Michael H Morris

Here's a text you'll refer to throughout your career, regardless of company or industry. CORPORATE ENTREPRENEURSHIP & INNOVATION is a one-of-a-kind text for the emerging business arena of entrepreneurship and innovation. While many companies agree that innovation is the key in sustaining their competitive advantage, few hold a true knowledge of the subject and how to put it into practice. With the "what", "how", "where", and "who" questions all answered in this comprehensive, professional text, you'll develop the skills and business savvy to be more marketable and lead companies to success.

Table of Contents:

SECTION I: BUILDING BLOCKS FOR CORPORATE ENTREPRENEURSHIP. 1. The New Entrepreneurial Imperative. 2. The Unique Nature of Corporate Entrepreneurship. 3. Levels of Entrepreneurship in Organizations: Entrepreneurial Intensity. 4. The Forms of Corporate Entrepreneurship. 5. Entrepreneurship in Other Contexts: Non-Profit and Government Organizations. SECTION II: CREATING THE ENTREPRENEURIAL ORGANIZATION. 6. Human Resources in the Entrepreneurial Organization: The Creative Individual. 7. Human Resources and the Entrepreneurial Organization: The Organizational Perspective. 8. Corporate Strategy and Entrepreneurship. 9. Structuring the Company for Entrepreneurship. 10. Developing an Entrepreneurial Culture. SECTION III: ACHIEVING AND SUSTAINING ENTREPRENEURIAL PERFORMANCE. 11. Constraints on Entrepreneurial Performance. 12. Leading the Entrepreneurial Organization. 13. Assessing Entrepreneurial Performance. 14. Control and Entrepreneurial Activity. 15. Sustaining Entrepreneurial Performance in the 21st Century Organization.