We wrote the first edition of this textbook more than ten years ago. The intervening years
have been a period of rapid and profound change in the investments industry. This is due in …

This paper develops a conceptual framework for analyzing fundamental institutional
changes in the global financial system. The framework's objectives are to improve our …

A familiar proposition is that investing in common stocks is less risky the longer an investor
plans to hold them. If this proposition were true, then the cost of insuring against earning less …

This paper examines the effect of the labor-leisure choice on portfolio and consumption
decisions over an individual's life cycle. The model incorporates the fact that individuals may …

Introducing... Essentials of Investments, 9th Global Edition, by Zvi Bodie, Alex Kane and
Alan J. Marcus. We are pleased to present this Global Edition, which has been developed …

This paper proposes a functional approach to designing and managing the financial
systems of countries, regions, firms, households, and other entities. It is a synthesis of the …

THIS PAPER DEFINES the effectiveness of common stocks as an inflation hedge as the extent
to which they can be used to reduce the risk of an investor's real return which stems from …

How do returns on commodity futures compare with returns on common stocks? The authors
found that, over the period 1950 to 1976, the mean return on their benchmark portfolio of …

… Zvi Bodie is professor of finance and economics at the School of Management, Boston
University, and a research associate of the National Bureau of Economic Research. Alan J. …

This paper develops the view that employer-sponsored pension plans are best understood
as retirement income insurance for employees and from that perspective addresses a …