Allen Franklin, Yago Glenn - Financing The Future. Market-Based Innovations For Growth.pdf

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1950 to 1969
1955:
First leveraged
buyout deal
1950:
Diners Club
becomes the first
credit card in
widespread use
1964:
Monte Carlo
methods introduced
to finance
1956:
First employee
stock ownership plan
(ESOP)
1964:
Capital Asset
Pricing Model
(CAPM) introduced
1967:
First
ATM machine
1950
1955
1960
1965
1969
1951:
Net present
value (NPV)
calculations applied
to corporate finance
1960:
Convertible
bonds issued
1965:
Origins of
modern hedge funds
1958:
Modigliani-
Miller theorem
published
1969:
Official
development
assistance
(ODA) statistic
published
by the OECD
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Financing the Future
Market-Based Innovations
for Growth
Franklin Allen
Glenn Yago
Vice President, Publisher: Tim Moore
Associate Publisher and Director of Marketing: Amy Neidlinger
Wharton Editor: Steve Kobrin
Executive Editor: Jim Boyd
Editorial Assistant: Pamela Bolan
Operations Manager: Gina Kanouse
Senior Marketing Manager: Julie Phifer
Publicity Manager: Laura Czaja
Assistant Marketing Manager: Megan Colvin
Cover Designer: Chuti Prasertsith
Managing Editor: Kristy Hart
Senior Project Editor: Lori Lyons
Copy Editor: Hansing Editorial Services
Proofreader: Sheri Cain
Senior Indexer: Cheryl Lenser
Senior Compositor: Gloria Schurick
Manufacturing Buyer: Dan Uhrig
© 2010 Milken Institute
Pearson Education, Inc.
Publishing as Wharton School Publishing
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This book is sold with the understanding that neither the authors nor the publisher
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All rights reserved. No part of this book may be reproduced, in any form or by any means,
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Printed in the United States of America
First Printing March 2010
ISBN-10: 0-13-701127-X
ISBN-13: 978-0-13-701127-8
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Library of Congress Cataloging-in-Publication Data
Allen, Franklin, 1956-
Financing the future : market-based innovations for growth / Franklin Allen, Glenn Yago.
p. cm.
ISBN 978-0-13-701127-8 (hbk. : alk. paper) 1. Finance. 2. Capital market. I. Yago, Glenn.
II. Title.
HG173.A4334 2010
332’.041—dc22
2009053172

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