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作者简介:LEO M. TILMAN is President of L.M.Tilman & Co., a strategic advisory firm that serves governments, financial institutions, corporations, and institutional investors worldwide.Prior to founding his own company,he held senior positions with BlackRock and Bear Stearns. Tilman teaches finance at Columbia University, which is alsohis graduate as well as undergraduate alma mater. He is coauthor of Risk Management (Wiley) and editor of Asset~Liability Management of Financial Institutions (Institutional Investor). Tilman is a contributing editorof the Journal of Risk Finance and a frequent speaker at leading business schools and conferences. He serves on the advisory board of the Center on Capitalism and Society at Columbia University and on the board of directors of Atlantic Partnership. Tilman has been honored by the World Economic Forum as a Young Global Leader, joining a select group of executives, public figures, and intellectuals recognized for "their professional accomplishments, commitment to society,and potential to contribute to shaping the future of the world." |
Foreword Preface Acknowledgments Chapter 1 Understanding and Navigating the Financial Revolution Introduction: The Need for Transformational Thinking From George Bailey to the Golden Age Accounting for Profits the Old Fashioned Way The “Great Moderation” As An Evolutionary Catalyst Economic Performance in the Dynamic New World Pressures on Static Business Models Dynamic Finance Perspective on Financial Crises Pillars of Strategic Decision Making Value Creation Through Dynamism and Business Model Transformations Beyond the Façade: The Importance of Risk-Based Transparency Chapter 2 The Old Regime and its Demise Economic Performance and Viability of Financial Institutions Static Business Models Dominant Forces: The Future That Has Already Happened Pressures on Static Business Models Chapter 3 The Dynamic New World Risk-Based Economic Performance Balance Sheet Arbitrage Principal Investments Systematic Risk Exposures Fees and Expenses Capital Structure Optimization Economic Performance Attribution Chapter 4 Business Model Transformations Pillars of Strategic Decisions in a Dynamic World Responsive Recalibrations of Business Models Full-Scale Business Model Transformations Making the Strategic Vision a Reality Chapter 5 The Road to Financial Darwinism Real-World Business Model Transformations Stakeholder Communication & Equity Valuation in a Dynamic World Economic Value Creation (and Destruction) by Non-Financial Corporations The Infamous “Carry Trade” and the Old Ways of Thinking A Dynamic Finance Perspective on Modern Financial Crises Beyond the Façade: The Need for Risk-Based Transparency Conclusion Epilogue Appendix A Appendix B Notes Bibliography About the Author Index |
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