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{{short description|Overview of finance and finance-related topics}}
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{{Finance sidebar}}

The following [[Outline (list)|outline]] is provided as an overview of and topical guide to finance:

'''[[Finance]]''' &ndash; addresses the ways in which individuals and organizations raise and allocate monetary [[factors of production|resources]] over time, taking into account the [[risk]]s entailed in their projects.

{{TOC limit|limit=2}}

== Overview ==
The term '''finance''' may incorporate any of the following:
* The study of [[money]] and other [[asset]]s
* The [[Corporate finance|management]] and control of those assets
* Profiling and [[Risk management|managing related risks]]

== Fundamental financial concepts ==
* [[Finance]]
** [[Arbitrage]]
** [[Capital (economics)]]
** [[Capital asset pricing model]]
** [[Cash flow]]
** [[Cash flow matching]]
** [[Debt]]
*** [[Default (finance)|Default]]
*** [[Consumer debt]]
*** [[Debt consolidation]]
*** [[Debt settlement]]
*** [[Credit counseling]]
*** [[Bankruptcy]]
*** [[Debt diet]]
*** [[Debt-snowball method]]
<!-- *** [[World debt]]  To be fixed: this incorrectly redirects to debt of developing countries -->
*** [[Debt of developing countries]]
**Asset types
*** [[Real estate]]
*** [[Securities]]
*** [[Commodities]]
*** [[Futures contract|Futures]]
*** [[Cash]]
** [[Discounted cash flow]]
** [[Financial capital]]
*** [[Funding]]
** [[Entrepreneur]]
*** [[Entrepreneurship]]
** [[Fixed income analysis]]
** [[Gap financing]]
** [[Global financial system]]
** [[Hedge (finance)|Hedge]]
*** [[Basis risk]]
** [[Interest rate]]
*** [[Risk-free interest rate]]
*** [[Term structure of interest rates]]
** [[Short-rate model]]
*** [[Vasicek model]]
*** [[Cox–Ingersoll–Ross model]]
*** [[Hull–White model]]
*** [[Chen model]]
*** [[Black–Derman–Toy model]]
** [[Interest]]
*** [[Effective interest rate]]
*** [[Nominal interest rate]]
*** [[Interest rate basis]]
*** [[Fisher equation]]
*** [[Crowding out (economics)|Crowding out]]
*** [[Annual percentage rate]]
*** [[Interest coverage ratio]]
** [[Investment]]
*** [[Foreign direct investment]]
*** [[Gold as an investment]]
*** [[Over-investing]]
** [[Leverage (finance)|Leverage]]
** [[Long (finance)]]
** [[Liquidity]]
** [[Margin (finance)]]
** [[Mark to market]]
** [[Market impact]]
** [[Medium of exchange]]
** [[Microcredit]]
** [[Money]]
*** [[Money creation]]
*** [[Currency]]
*** [[Coin]]
*** [[Banknote]]
*** [[Counterfeit]]
*** [[History of money]]
*** [[Monetary reform]]
** [[Portfolio (finance)|Portfolio]]
***[[Modern portfolio theory]]
***[[Mutual fund separation theorem]]
***[[Post-modern portfolio theory]]
** [[Reference rate]]
*** [[Reset (finance)|Reset]]
** [[Return (finance)|Return]]
*** [[Absolute return]]
*** [[Investment performance]]
*** [[Relative return]]
** [[Risk]]
*** [[Financial risk]]
*** [[Risk management]]
**** [[Financial risk management]]
**** [[Uncompensated risk]]
*** [[Risk measure]]
**** [[Coherent risk measure]]
**** [[Deviation risk measure]]
**** [[Distortion risk measure]]
**** [[Spectral risk measure]]
**** [[Value at risk]]
***** [[Expected shortfall]]
***** [[Entropic value at risk]]
** [[Scenario analysis]]
** [[Short (finance)]]
** [[Speculation]]
*** [[Day trading]]
** [[Position trader]]
** [[Spread trade]]
** [[Standard of deferred payment]]
** [[Store of value]]
** [[Time horizon]]
** [[Time value of money]]
*** [[Discounting]]
*** [[Present value]]
*** [[Future value]]
*** [[Net present value]]
*** [[Internal rate of return]]
***[[Modified Internal Rate of Return|Modified internal rate of return]]
*** [[Annuity (finance theory)|Annuity]]
*** [[Perpetuity]]
** [[Trade]]
*** [[Free trade]]
*** [[Free market]]
*** [[Fair trade]]
** [[Unit of account]]
** [[Volatility (finance)|Volatility]]
** [[Yield (economics)|Yield]]
** [[Yield curve]]
** [[Equated monthly installment]]
** [[Down payment]] 

== History ==
* [[History of finance]]
* [[History of banking]]
* [[History of insurance]]
* [[Tulip mania]] (Dutch Republic), 1620s/1630s
* [[South Sea Company|South Sea Bubble]] (UK) & [[Mississippi Company]] (France), 1710s; see also [[Stock market bubble]]
* ''[[Vix pervenit]]'' 1745, on usury and other dishonest profit
* [[Panic of 1837]] (US)
* [[Railway Mania]] (UK), 1840s
* [[Erie War]] (US), 1860s
* [[Long Depression]], 1873–1896 (mainly US and Europe, though other parts of the world were affected)
* Post-World War I hyperinflation; see [[Hyperinflation]] and [[Inflation in the Weimar Republic]]
* [[Wall Street Crash of 1929]]
* [[Great Depression]] 1930s
* [[Bretton Woods Accord]] 1944
* [[1973 oil crisis]]
* [[1979 energy crisis]]
* [[Savings and Loan Crisis]] 1980s
* [[Black Monday (1987)|Black Monday]] 1987
* [[1997 Asian financial crisis]]
* [[Dot-com bubble]] 1995-2001
* [[Stock market downturn of 2002]]
* [[United States housing bubble]]
* [[2008 financial crisis]] and the [[Great Recession]]

== Finance terms by field ==

=== Accounting (financial record keeping) ===
{{main article|Accountancy|l1=Accounting|List of accounting topics}}

* [[Auditing]]
* [[Accounting software]]
* [[Book keeping]]
* [[FASB]]
* [[Financial accountancy]]
** [[Financial statements]]
*** [[Balance sheet]]
*** [[Cash flow statement]]
*** [[Income statement]]
* [[Management accounting]]
* [[Philosophy of Accounting]]
* [[Hedge accounting]]
** [[IFRS 9]]
** [[Fair value accounting]]

=== Banking ===
*See articles listed under: {{slink|Bank|See also}}
<!-- * [[Anonymous banking]]
* [[Automatic teller machine]]
* [[deposit account|Deposit]]
* [[Deposit creation multiplier]]
* [[Ethical banking]]
* [[International Bank Account Number]]
* [[Islamic banking]]
* [[Loan]]
** [[Pre-qualification]]
** [[Pre-approval]]
** [[Subprime]]
* [[Withdrawal (banking)|Withdrawal]] -->

=== Corporate finance ===
{{Main article|Corporate finance}}
{{See also|Financial management}}
{{Further|Outline of corporate finance}}

* Below {{slink|#Corporate finance theory}}
* [[Balance sheet analysis]]
** [[Financial ratio]]
* [[Business plan]]
** [[Portfolio (finance)|Investment policy]]
*** [[Business valuation]]
*** [[Stock valuation]]
*** [[Fundamental analysis]]
*** [[Real option]]s
*** [[List of finance topics#Valuation|Valuation topics]]
*** [[Fisher separation theorem]]
** [[Capital structure|Sources of financing]]
** [[Securities]]
** [[Debt]]
** [[Initial public offering]]
** [[Capital structure]]
** [[Cost of capital]]
*** [[Weighted average cost of capital]]
*** [[Modigliani–Miller theorem]]
*** [[Hamada's equation]]
** [[Dividend policy]]
***[[Dividend]]
*** [[Dividend tax]]
*** [[Dividend yield]]
***[[Modigliani–Miller theorem]]
* [[Corporate action]]
* ([[Strategic financial management|Strategic]]) [[Financial management]]
**[[Capital management]]
***[[Capital budgeting]]
***[[Working capital]]
****[[Current assets]]
****[[Current liabilities]]
**[[Managerial finance]]
**[[Management accounting]]
* [[Mergers and acquisitions]]
** [[Leveraged buyout]]
** [[Takeover]]
** [[Corporate raid]]
** [[Contingent value rights]]
*[[Real option]]s
**[[Return on investment]]
***[[Return on capital]]
***[[Return on assets]]
***[[Return on equity]]
**[[Loan covenant]]
**[[Cash conversion cycle]]
**[[Cash management]] 
***{{slink|Strategic financial management|Cash management}}
**[[Inventory optimization]]
***[[Supply chain management]]
***[[Just In Time (business)|Just In Time]] (JIT)
***[[Economic order quantity]] (EOQ)
***[[Economic production quantity]] (EPQ)
***[[Economic batch quantity]]
**[[Credit (finance)]]
**[[Credit scoring]]
**[[Default risk]]
**[[Discounts and allowances]]
**[[Factoring (trade)]] & [[Supply chain finance]]
**[[Corporate budget]]

=== Investment management ===<!-- This section is linked from [[Finance]] -->
{{main article|Investment management}}
{{See also|#Portfolio theory}}
* [[Active management]]
* [[Efficient market hypothesis]]
* [[Portfolio (finance)|Portfolio]]
* [[Modern portfolio theory]]
** [[Capital asset pricing model]]
* [[Arbitrage pricing theory]]
* [[Passive management]]
** [[Index fund]]
* [[Activist shareholder]]
* [[Mutual fund]]
** [[Open-end fund]]
** [[Closed-end fund]]
* [[Financial engineering]]
** [[Long-Term Capital Management]]
*[[Hedge fund]]
* [[hedge (finance)|Hedge]]
*[[#Quantitative investing]], below

=== Personal finance ===
{{main article|Personal finance}}

* [[529 plan]] (US college savings)
* [[ABLE account]] (US plan for benefit of individuals with disabilities)
* [[Asset allocation]]
** [[Asset location]]
* [[Budget]]
* [[Coverdell Education Savings Account]] (Coverdell ESAs, formerly known as Education IRAs)
* Credit and debt
** [[Credit card]]
** [[Debt consolidation]]
** [[Mortgage loan]]
*** [[Continuous-repayment mortgage]]
* [[Debit card]]
* [[Direct deposit]]
* [[Employment contract]]
** [[Commission (remuneration)|Commission]]
** [[Employee stock option]]
** [[Employee benefit|Employee or fringe benefit]]
** [[Health insurance]]
** [[Payroll|Paycheck]]
** [[Salary]]
** [[Wage]]
* [[Financial literacy]]
* [[Insurance]]
* [[Predatory lending]]
* [[Retirement plan]]
** Australia – [[Superannuation in Australia]]
** Canada
*** [[Registered retirement savings plan]]
*** [[Tax-free savings account]]
** Japan – [[Nippon individual savings account]]
** New Zealand – [[KiwiSaver]]
** United Kingdom
*** [[Individual savings account]]
*** [[Self-invested personal pension]]
** United States
*** [[401(a)]]
*** [[401(k)]]
*** [[403(b)]]
*** [[457 plan]]
*** [[Keogh plan]]
*** [[Individual retirement account]]
**** [[Roth IRA]]
**** [[Traditional IRA]]
**** [[SEP IRA]]
**** [[SIMPLE IRA]]
** [[Pension]]
* [[Simple living]]
* [[Social security]]
* [[Tax advantage]]
* [[Wealth]]
* [[Comparison of accounting software]]
* [[Personal financial management]]
* [[Investment club]]
* [[Collective investment scheme]]

=== Public finance ===
{{main article|Public finance}}

* [[Central bank]]
* [[Federal Reserve]]
* [[Fractional-reserve banking]]
** [[Deposit creation multiplier]]
* [[Tax]]
** [[Capital gains tax]]
** [[Estate tax]] (and [[inheritance tax]])
** [[Gift tax]]
** [[Income tax]]
** [[Inheritance tax]]
** [[Payroll tax]]
** [[Property tax]] (including [[land value tax]])
** [[Sales tax]] (including [[value added tax]], [[excise tax]], and [[use tax]])
** [[Transfer tax]] (including [[stamp duty]])
** [[Tax advantage]]
** [[Tax, tariff and trade]]
** [[Tax amortization benefit]]
* [[Crowding out (economics)|Crowding out]]
* [[Industrial policy]]
* [[Agricultural policy]]
* [[Currency union]]
* [[Monetary reform]]

=== Risk management ===
{{main|Financial risk management}}
{{also|Finance#Risk management|Risk management #Finance}}
* [[Asset and liability management]]
* [[Asset–liability mismatch]]
* [[Capital Requirements Regulation 2013]] & [[Credit Institutions Directive 2013]] ([[Capital Requirements Directives]])
* Cash flow hedge
* [[Cash management]]
* [[Corporate governance]]
* [[Stranded asset#Climate-related asset stranding|Climate-related asset stranding]]
* [[Credit risk]] 
* [[Default (finance)]]
* [[Discounted maximum loss]]
* [[Downside risk]] & [[Upside risk]]
* [[Duration gap]]
* [[Enterprise risk management]]
* [[Financial engineering]]
* [[Financial risk]]
* [[Financial risk management]]
* [[Foreign exchange hedge]]
* [[Fuel price risk management]]
* [[Gordon–Loeb model]] for [[cyber security]] investments
* [[Interest rate risk]]
** [[Interest rate risk in the banking book]]
* [[Insurance]]
* [[Investment risk]]
* [[Irrational exuberance]]
* [[Kelly criterion]]
* [[Liquidity risk]]
* [[Market risk]]
* [[Operational risk]]
* [[Risk accounting]]
* [[Risk adjusted return on capital]]
* [[Risk aversion]]
* [[Risk-based internal audit]]
* [[Risk measure]]
** [[Coherent risk measure]]
** [[Deviation risk measure]]
** [[Distortion risk measure]]
** [[Spectral risk measure]]
* [[Risk modeling]]
* [[Risk of ruin]]
* [[Risk pool]]
* [[Risk register]]
* [[Risk return ratio]]
* [[Risk–return spectrum]]
* [[Security management]]
* [[Settlement risk]]
* [[Shadow banking system]]
* [[Specific risk]]
* [[St. Petersburg paradox]]
* [[Systematic risk]]
* [[Three lines of defence]]
* [[Treasury management]]
* [[Uncompensated risk]]
* [[Valuation risk]]
* [[Value at risk]]
** Computation
*** [[Historical simulation (finance)|Historical]]
*** [[Monte Carlo methods in finance|Monte Carlo]]
*** [[Value at risk#Computation methods|variance-covariance]]
*** [[Greeks (finance)#Delta|delta]]-[[Greeks (finance)#Gamma|gamma]]
** Alternate measures
*** [[Entropic value at risk]]
*** [[Conditional value-at-risk]] / [[Expected shortfall]]
*** [[Tail value at risk]]
** Extensions
*** [[Profit at risk]]
*** [[Margin at risk]]
*** [[Liquidity at risk]]
*** [[Earnings at risk]]
*** [[Cash flow at risk]]
*** [[Liquidity_risk#Liquidity-adjusted_value_at_risk|Liquidity-adjusted VaR]]
* [[Volatility risk]]
* [[Volume risk]]
* [[Wrong way risk]]

=== Constraint finance ===
* [[Environmental finance]]
* [[Feminist economics]]
* [[Green economics]]
* [[Islamic economics]]
* [[Uneconomic growth]]
* [[Value of Earth]]
* [[Value of life]]

== Insurance ==
{{main article|Insurance}}

* [[Actuarial science]]
* [[Annuity (financial contracts)|Annuities]]
* [[Catastrophe modeling]]
* [[Earthquake loss]]
* [[Extended coverage]]
* {{slink|Financial risk management#Insurance}}
* [[Insurable interest]]
* [[Insurable risk]]
* [[Insurance]]
** [[Health insurance]]
*** [[Disability insurance]]
*** [[Accident insurance]]
*** [[Flexible spending account]]
*** [[Health savings account]]
*** [[Long term care insurance]]
*** [[Medical savings account]]
** [[Life insurance]]
*** [[Life insurance tax shelter]]
*** [[Permanent life insurance]]
*** [[Term life insurance]]
*** [[Universal life insurance]]
*** [[Variable universal life insurance]]
*** [[Whole life insurance]]
** [[Property insurance]]
*** [[Auto insurance]]
*** [[Boiler insurance]]
*** [[Business interruption insurance]]
*** [[Condo insurance]] 
*** [[Earthquake insurance]]
*** [[Home insurance]]
*** [[Title insurance]]
*** [[Pet insurance]]
*** [[Renters' insurance]]
** [[Casualty insurance]]
*** [[Fidelity bond]]
*** [[Liability insurance]]
*** [[Political risk insurance]]
*** [[Surety bond]]
*** [[Terrorism insurance]]
** Credit insurance
*** [[Trade credit insurance]]
*** [[Payment protection insurance]]
*** [[Credit derivative]]
** [[Mid-term adjustment]]
** [[Reinsurance]]
** [[Self insurance]]
** [[Travel insurance]]
** [[Niche insurance]]
* [[Insurance contract]]
* [[Loss payee clause]]
* [[Risk Retention Group]]

== Economics and finance ==
{{main article|Financial economics|Asset pricing}}
{{see also|Finance#Financial theory}}

=== Finance-related areas of economics ===
* [[Financial economics]]
* [[Financial econometrics]]
* [[Monetary economics]]
* [[Mathematical economics]]
* [[Managerial economics]]
* [[Economic growth]] theory
* [[Decision theory]]
* [[Game theory]]
* [[Experimental economics]] / [[Experimental finance]]
* [[Behavioral economics]] / [[Behavioral finance]]

=== Corporate finance theory ===
{{further|Financial economics#Corporate finance theory|Financial economics#Certainty}}
{{see also|Outline of corporate finance#Theory}}
*[[Fisher separation theorem]]
*[[Modigliani–Miller theorem]]
*[[Theory of the firm]]
*[[The Theory of Investment Value]]
*[[Agency theory]]
*[[Managerial finance]]
*[[Capital structure]]
**{{slink|Corporate finance|Capitalization structure}}
**[[Capital structure substitution theory]]
**[[Pecking order theory]]
**[[Market timing hypothesis]]
**[[Trade-off theory of capital structure]]
**[[Merton model]]
**[[Tax shield]]
*[[Dividend policy]]
**{{slink|Corporate finance|Dividend policy}}
**[[Dividend policy#Walter's model|Walter model]]
**[[Gordon model]]
**[[John Lintner#Lintner's dividend policy model|Lintner model]]
**[[Dividend policy#Residuals theory of dividends|Residuals theory]]
**[[Dividend_policy#Dividend_signaling_hypothesis|Signaling hypothesis]]
**[[Clientele effect]]
**[[Dividend puzzle]]
**{{slink|Treasury stock|Buying back shares}}
**[[Dividend tax]]
*[[Capital budgeting]] (valuation)
**{{slink|Corporate finance|Investment and project valuation}}
**[[Clean surplus accounting]]
**[[Residual income valuation]]
**[[Economic value added]] / [[Market value added]]
**[[T-model]]
**[[Adjusted present value]]
**Uncertainty
***[[Penalized present value]]
***[[Expected commercial value]]
***[[rNPV|Risk-adjusted net present value]]
***[[Contingent claim valuation]]
***[[Real options]]
***[[Monte Carlo methods in finance#Overview|Monte Carlo methods]]
*Risk management
**{{slink|Corporate finance|Financial risk management}}
**{{slink|Financial risk management|Corporate finance}}
**[[Financial risk management#Economic perspective|Hedging irrelevance proposition]]
**[[Risk modeling]]
**[[Risk-adjusted return on capital]]

=== Asset pricing theory ===
{{main|Asset pricing}}
{{further|Financial economics#Underlying economics}}
*[[Value (economics)]]
**[[Fair value]]
**[[Intrinsic value (finance)|Intrinsic value]]
**[[Market price]]
**[[Expected value]]
**[[Opportunity cost]]
**[[Risk premium]]
**[[#Underlying theory]] below
*[[Financial market]]s
**[[Stylized fact]]
**[[Regulatory economics]]
***{{slink|Macroprudential regulation|Theoretical rationale}}
**[[Market microstructure]] 
***[[Walrasian auction]]
***[[Fisher market]]
***[[Arrow–Debreu model|Arrow-Debreu market]]
***[[Matching market]]
**[[Market design]]
**[[Agent-based model]]
***[[Representative agent]]
***[[Aggregation problem]]
***[[Heterogeneity in economics]]
****[[Heterogeneous agent model]]
****{{slink|Agent-based model|In economics and social sciences}}
****[[Artificial financial market]]
*[[General equilibrium theory]]
**[[Supply and demand]]
**[[Competitive equilibrium]]
**[[Economic equilibrium]]
**[[Partial equilibrium]]
*[[Equilibrium price]]
**[[Market efficiency]]
**[[Economic equilibrium]]
**[[Rational expectations]]
**[[Risk factor (finance)]]
*[[Arbitrage-free]] price 
**[[Rational pricing]]
***[[Rational pricing#Arbitrage free pricing|§ Arbitrage free pricing]]
***[[Rational pricing#Risk neutral valuation|§ Risk neutral valuation]]
**[[Contingent claim analysis]]
**[[Brownian model of financial markets]]
**[[Complete market]] & [[Incomplete markets]]
*[[Utility]]
**[[Risk aversion]]
**[[Expected utility hypothesis]]
**[[Utility maximization problem]]
**[[Marginal utility]]
**[[Quasilinear utility]]
**[[Generalized expected utility]]
*[[Economic efficiency]]
**[[Efficient-market hypothesis]]
**[[efficient frontier]]
**[[Production–possibility frontier]]
**[[Allocative efficiency]]
**[[Pareto efficiency]]
**[[Productive efficiency]]
**[[Dumb agent theory]]
*[[State prices]]
**[[Arrow–Debreu model]]
**[[Stochastic discount factor]]
**[[Pricing kernel]]
**Application:
***{{slink|Arrow–Debreu model|Economics of uncertainty: insurance and finance}}
***{{slink|State prices|Application to financial assets}}
*[[Fundamental theorem of asset pricing]] 
** [[Rational pricing]] 
** [[Arbitrage-free]] 
**[[No free lunch with vanishing risk]]
**[[Self-financing portfolio]]
**[[Stochastic dominance]]
***[[Marginal conditional stochastic dominance]]
*[[Martingale pricing]]
**[[Brownian model of financial markets]]
**[[Random walk hypothesis]]
**[[Risk-neutral measure]] 
**[[Martingale (probability theory)]]
***[[Sigma-martingale]]
***[[Semimartingale]]
*[[Quantum finance]]

==== Asset pricing models ====
*Equilibrium pricing
**Equities; foreign exchange and commodities
***[[Capital asset pricing model]]
***[[Consumption-based capital asset pricing model|Consumption-based CAPM]]
***[[Intertemporal CAPM]]
***[[Single-index model]]
***[[Multiple factor models]]
****[[Fama–French three-factor model]]
****[[Carhart four-factor model]]
***[[Arbitrage pricing theory]]
**Bonds; other interest rate instruments 
***[[Vasicek model|Vasicek]] 
***[[Rendleman–Bartter model|Rendleman–Bartter]]
***[[Cox–Ingersoll–Ross model|Cox–Ingersoll–Ross]]
*Risk neutral pricing
**Equities; foreign exchange and commodities; interest rates
***[[Black–Scholes model|Black–Scholes]]
***[[Black model|Black]]
***[[Garman–Kohlhagen model|Garman–Kohlhagen]]
***[[Heston model|Heston]]
***[[Constant elasticity of variance model|CEV]]
***[[SABR volatility model|SABR]]
**Bonds; other interest rate instruments 
***[[Ho–Lee model|Ho–Lee]] 
***[[Hull–White model|Hull–White]] 
***[[Black–Derman–Toy model|Black–Derman–Toy]] 
***[[Black–Karasinski model|Black–Karasinski]]
***[[Kalotay–Williams–Fabozzi model|Kalotay–Williams–Fabozzi]]
***[[Longstaff–Schwartz model|Longstaff–Schwartz]]
***[[Chen model|Chen]]
***[[Rendleman–Bartter model|Rendleman–Bartter]]
***[[Heath–Jarrow–Morton framework|Heath–Jarrow–Morton]]
****[[Cheyette model|Cheyette]]
***[[Brace-Gatarek-Musiela model|Brace–Gatarek–Musiela]] 
****[[LIBOR market model]]

== Mathematics and finance==

=== Time value of money ===
{{main article|Time value of money}}

* [[Present value]]
* [[Future value]]
* [[Discounting]]
* [[Net present value]]
* [[Internal rate of return]]
* [[Annuity (finance theory)|Annuity]]
* [[Perpetuity]]

=== Financial mathematics ===
{{main article|Financial mathematics}}

==== Mathematical tools ====
*[[Probability]]
**[[Probability distribution]]
***[[Binomial distribution]]
***[[Log-normal distribution]]
***[[Poisson distribution]]
*[[Stochastic calculus]]
**[[Brownian motion]]
***[[Geometric Brownian motion]]
**[[Cameron–Martin theorem]]
**[[Feynman&ndash;Kac formula]]
**[[Girsanov's theorem]]
**[[Itô's lemma]]
**[[Martingale representation theorem]]
**[[Radon–Nikodym derivative]]
**[[Stochastic differential equations]]
**[[Stochastic process]]
***[[Jump process]]
***[[Lévy process]]
***[[Markov process]]
***[[Ornstein–Uhlenbeck process]]
***[[Wiener process]]
*[[Monte Carlo method]]s
**[[Low-discrepancy sequence]]
**[[Monte Carlo integration]]
**[[Quasi-Monte Carlo method]]
**[[Random number generation]]
*[[Partial differential equation]]s
**[[Finite difference method]]
**[[Heat equation]]
**[[Numerical partial differential equations]]
***[[Crank–Nicolson method]]
*[[Volatility (finance)|Volatility]]
**[[Autoregressive conditional heteroskedasticity#ARCH.28q.29 model Specification|ARCH model]]
**[[Autoregressive conditional heteroskedasticity#GARCH|GARCH model]]
**[[Stochastic volatility]]
**[[Stochastic volatility jump]]

==== Derivatives pricing ====
{{main article|Financial mathematics#Derivatives pricing}}
{{See also|Financial economics#Derivative pricing}}
*Underlying logic (see also [[#Economics and finance]] above)
** [[Rational pricing]] 
***[[Risk-neutral measure]] 
***[[Arbitrage-free]] pricing
**[[Brownian model of financial markets]]
**[[Martingale pricing]]
*[[Forward contract]]
**[[Forward contract#Spot–forward parity|Forward contract pricing]]
*[[Futures contract|Futures]]
**[[Futures contract#Pricing|Futures contract pricing]]
*[[Option (finance)|Options]] (incl. [[Real options valuation#Valuation|Real options]] and [[Employee stock option#Valuation|ESOs]])
**[[Valuation of options]]
** [[Black–Scholes formula]]
*** Approximations for American options
****[[Barone-Adesi and Whaley]]
****[[Bjerksund and Stensland]]
****[[Black's approximation]]
****[[Optimal stopping]]
****[[Black–Scholes model#American options|Roll–Geske–Whaley]]
** [[Black model]]
** [[Binomial options model]]
** [[Finite difference methods for option pricing]]
** [[Foreign exchange option#Valuation: the Garman–Kohlhagen model|Garman–Kohlhagen model]]
** [[The Greeks (finance)|The Greeks]]
** [[Lattice model (finance)]]
** [[Margrabe's formula]]
** [[Monte Carlo methods for option pricing]]
***[[Monte Carlo methods in finance]]
***[[Quasi-Monte Carlo methods in finance]]
***[[Monte Carlo methods for option pricing#Least Square Monte Carlo|Least Square Monte Carlo]] for American options
** [[Trinomial tree]]
** [[Volatility (finance)|Volatility]]
*** [[Implied volatility]]
*** [[Volatility (finance)|Historical volatility]]
*** [[Volatility smile]] (& [[Volatility smile#Implied volatility surface|Volatility surface]])
*** [[Stochastic volatility]]
**** [[Constant elasticity of variance model]]
**** [[Heston model]]
**** [[SABR volatility model]]
*** [[Local volatility]]
****[[Implied binomial tree]]
****[[Implied trinomial tree]]
****[[Edgeworth binomial tree]]
****[[Johnson binomial tree]]
*[[Swap (finance)|Swaps]]
**[[Swap (finance)#Valuation and Pricing|Swap valuation]]
***{{section link|Asset swap|Computing the asset swap spread}}
***{{section link|Credit default swap|Pricing and valuation}}
***{{section link|Currency swap|Valuation and pricing}}
***{{section link|Interest rate swap|Valuation and pricing}}
****[[Multi-curve framework]]
***{{section link|Variance swap|Pricing and valuation}}
*[[Interest rate derivative]]s ([[bond option]]s, [[swaption]]s, [[interest rate cap and floor|caps and floors]], and [[Interest rate derivative#Types|others]])
**[[Black model]]
***[[Interest rate cap and floor#Black model|caps and floors]]
***[[Swaption#Valuation|swaptions]]
***[[Bond option#Valuation|Bond options]]
**[[Short-rate model]]s (generally applied via [[Lattice model (finance)|lattice based-]] and [[Monte Carlo methods for option pricing|specialized simulation-models]], although "Black like" formulae exist in some cases.)
***[[Rendleman–Bartter model]]
***[[Vasicek model]]
***[[Ho–Lee model]]
***[[Hull–White model]]
***[[Cox–Ingersoll–Ross model]]
***[[Black–Karasinski model]]
***[[Black–Derman–Toy model]]
***[[Kalotay–Williams–Fabozzi model]]
***[[Longstaff–Schwartz model]]
***[[Chen model]]
**[[Forward interest rate|Forward rate]] / [[Forward curve]] -based models (Application as per short-rate models)
***[[LIBOR market model]] (also called: Brace–Gatarek–Musiela Model, BGM)
***[[Heath–Jarrow–Morton framework|Heath–Jarrow–Morton Model]] (HJM)
***[[Cheyette model]]
*Valuation adjustments
**[[Credit valuation adjustment]]
**[[XVA]]
*[[Yield curve]] modelling
**[[Multi-curve framework]]
**[[Bootstrapping (finance)]]
**{{slink|Yield curve|Construction of the full yield curve from market data}}
**{{slink|Fixed-income attribution |Modeling the yield curve}}
**[[Nelson-Siegel]]
**{{slink|Principal component analysis|Quantitative finance}}

==== Portfolio mathematics ====
*[[#Mathematical techniques]] below
*[[#Quantitative investing]] below
*{{slink|Modern portfolio theory|Mathematical model}}
*[[Portfolio optimization]]
**[[Portfolio optimization#Optimization methods|§ Optimization methods]]
**[[Portfolio optimization#Mathematical tools|§ Mathematical tools]]
*[[Merton's portfolio problem]]
*[[Kelly criterion]]
*[[Roy's safety-first criterion]]
*Specific applications:
**[[Black–Litterman model]]
**[[Universal portfolio algorithm]]
**[[Markowitz model]]
**[[Treynor–Black model]]

== Financial markets ==
{{main|Financial markets}}

=== Market and instruments ===
* [[Capital market]]s
* [[Security (finance)|Securities]]
* [[Financial markets]]
* [[Primary market]]
* [[Initial public offering]]
* [[Aftermarket (finance)|Aftermarket]]
* [[Free market]]
* [[Bull market]]
* [[Bear market]]
* [[Bear market rally]]
* [[Market maker]]
* [[Dow Jones Industrial Average]]
* [[Nasdaq]]
* [[List of stock exchanges]]
* [[List of stock market indices]]
* [[List of corporations by market capitalization]]
* [[Value Line Composite Index]]

=== Equity market ===
{{main article|Equity market}}

* [[Stock market]]
* [[Stock]]
* [[Common stock]]
* [[Preferred stock]]
* [[Treasury stock]]
* [[Equity investment]]
* [[Index investing]]
* [[Private Equity]]
* [[Financial reports]] and statements
* [[Fundamental analysis]]
* [[Dividend]]
* [[Dividend yield]]
* [[Stock split]]

==== Equity valuation ====
{{main article|Equity valuation}}
{{See also|#Context}}
* [[Dow theory]]
* [[Elliott wave principle]]
* [[Economic value added]]
* [[Fibonacci retracement]]
* [[Gordon model]]
* [[Growth stock]]
** [[PEG ratio]]
** [[PVGO]]
* [[Mergers and acquisitions]]
* [[Leveraged buyout]]
* [[Takeover]]
* [[Corporate raid]]
* [[PE ratio]]
* [[Market capitalization]]
* [[Income per share]]
* [[Stock valuation]]
* [[Technical analysis]]
* [[Chart patterns]]
* [[V-trend]]
* [[Paper valuation]]

==== Investment theory ====
{{main article|Investment theory}}

*[[Behavioral finance]]
*[[Dead cat bounce]]
*[[Efficient market hypothesis]]
*[[Market microstructure]]
*[[Stock market crash]]
*[[Stock market bubble]]
*[[January effect]]
*[[Mark Twain effect]]
*[[Quantitative behavioral finance]]
*[[Quantitative analysis (finance)]]
*[[Statistical arbitrage]]

=== Bond market ===
{{main article|Bond market}}

* [[Bond (finance)]]
* [[Zero-coupon bond]]
* [[Junk bonds]]
* [[Convertible bond]]
* [[Accrual bond]]
* [[Municipal bond]]
* [[Sovereign bond]]
* [[Bond valuation]]
** [[Yield to maturity]]
** [[Bond duration]]
** [[Bond convexity]]
* [[Fixed income]]

=== Money market ===
{{main article|Money market}}

* [[Repurchase agreement]]
* [[International Money Market]]
* [[Currency]]
* [[Exchange rate]]
* [[ISO 4217|International currency codes]]
* Table of historical exchange rates

=== Commodity market ===
{{main article|Commodity market}}

* [[Commodity]]
** [[Asset]]
** [[Commodity Futures Trading Commission]]
** [[Trade|Commodity trade]]
** [[Drawdown (economics)|Drawdowns]]
** [[Forfaiting]]
** [[Fundamental analysis]]
** [[Futures contract]]
** [[Fungibility]]
** [[Gold as an investment]]
** [[Hedge (finance)|Hedging]]
** [[Jesse Lauriston Livermore]]
** [[List of traded commodities]]
** [[Ownership equity]]
** [[Position trader (futures)|Position trader]]
** [[Risk (Futures)]]
** [[Seasonal traders]]
** [[Seasonal spread trading]]
** [[slippage (finance)|Slippage]]
** [[Speculation]]
** [[Spread trade]]
** [[Technical analysis]]
*** [[Breakout (technical analysis)|Breakout]]
*** [[Bear market]]
*** [[Bottom (technical analysis)]]
*** [[Bull market]]
*** [[MACD]]
*** [[moving average (finance)|Moving average]]
*** [[Open interest (futures)|Open Interest]]
*** [[Parabolic SAR]]
*** [[Point and figure charts]]
*** [[Resistance (technical analysis)|Resistance]]
*** [[Relative Strength Index|RSI]]
*** [[Stochastic oscillator]]
*** [[Stop loss order|Stop loss]]
*** [[Support (technical analysis)|Support]]
*** [[Top (technical analysis)]]
** [[Trade]]
** [[Market trend|Trend]]

=== Derivatives market ===
{{main article|Derivatives market}}

* [[Derivative (finance)]]
* (see also [[List of finance topics#Mathematics and finance|Financial mathematics topics]]; [[Financial mathematics#Derivatives pricing|Derivatives pricing]])
* [[Underlying instrument]]

==== Forward markets and contracts====
{{main article|Forward market}}

* [[Forward contract]]

==== Futures markets and contracts====
{{main article|Futures market}}

* [[Backwardation]]
* [[Contango]]
* [[Futures contract]]
** Financial future
*** [[Currency future]]
*** [[Interest rate future]]
*** [[Single-stock futures]]
*** [[Stock market index future]]
* [[Futures exchange]]

==== Option markets and contracts ====
* [[Option (finance)|Option]]s
** [[Stock option]]
*** [[Box spread (options)|Box spread]]
*** [[Call option]]
*** [[Put option]]
*** [[Strike price]]
*** [[Put–call parity]]
*** [[The Greeks (finance)|The Greeks]]
*** [[Black–Scholes formula]]
*** [[Black model]]
*** [[Binomial options model]]
*** [[Implied volatility]]
*** [[Option time value]]
***[[Moneyness]]
****[[At-the-money]]
****[[In-the-money]]
****[[Out-of-the-money]]
*** [[Straddle]]
*** [[Option style]]
**** [[Vanilla option]]
**** [[Exotic option]]
**** [[Binary option]]
**** [[European option]]
***** [[Interest rate floor]]
***** [[Interest rate cap]]
**** [[Bermudan option]]
**** [[American option]]
**** [[Quanto option]]
**** [[Asian option]]
*** [[Employee stock option]]
** [[Warrant (finance)|Warrants]]
** [[Foreign exchange option]]
** [[Interest rate option]]s
** [[Bond option]]s
** [[Real option]]s
** [[Futures contract#Options on futures|Options on futures]]

==== Swap markets and contracts ====
{{main article|Swap market}}
* [[Swap (finance)]]
** [[Interest rate swap]]
** [[Basis swap]]
** [[Asset swap]]
** [[Forex swap]]
** [[Stock swap]]
** [[Equity swap]]
** [[Currency swap]]
** [[Variance swap]]

==== Derivative markets by underlyings ====

===== Equity derivatives =====
{{main article|Equity derivative}}

*[[Contract for difference]] (CFD)
*[[Exchange-traded fund]] (ETF)
**[[Closed-end fund]]
**[[Inverse exchange-traded fund]]
*[[Equity options]]
*[[Equity swap]]
*[[Real estate investment trust]] (REIT)
*[[Warrant (finance)|Warrants]]
**[[Covered warrant]]

===== Interest rate derivatives =====
{{main article|Interest rate derivative}}

* [[LIBOR]]
* [[Forward rate agreement]]
* [[Interest rate swap]]
* [[Interest rate cap]]
* [[Exotic interest rate option]]
* [[Bond option]]
* [[Interest rate future]]
* [[Money market]] instruments
* [[Range accrual]] Swaps/Notes/Bonds
* [[In-arrears]] Swap
* [[Constant maturity swap]] (CMS) or Constant Treasury Swap (CTS) derivatives (swaps, caps, floors)
* Interest rate [[Swaption]]
* Bermudan swaptions
* Cross currency swaptions
* [[Power Reverse Dual Currency]] note ([[PRDC]] or Turbo)
* [[Target redemption note]] (TARN)
* CMS steepener
* Snowball
* Inverse floater
* [[Zero-coupon_bond#Strip_bonds|Strips]] of [[Collateralized mortgage obligation]]
** [[Interest only]] (IO)
** [[Principal only]] (PO)
* Ratchet caps and floors

===== Credit derivatives =====
{{main article|Credit derivative}}

* [[Credit default swap]]
* [[Collateralized debt obligation]]
* [[Credit default option]]
* [[Total return swap]]
* [[Securitization]]
** [[Strip financing]]

===== Foreign exchange derivative =====
{{main article|Foreign exchange derivative}}
*[[Basis swap]]
*[[Currency future]]
*[[Currency swap]]
*[[Binary option#Foreign exchange|Foreign exchange binary option]]
*[[Foreign exchange market#Forward|Foreign exchange forward]]
*[[Foreign exchange option]]
*[[Forward exchange rate]]
*[[Foreign exchange swap]]
*[[Foreign exchange hedge]]
*[[Non-deliverable forward]]
*[[Power reverse dual-currency note]]

== Financial regulation ==
* [[Corporate governance]]
* [[Financial regulation]]
** [[Bank regulation]]
*** [[Banking license]]
* [[License]]

=== Designations and accreditation ===
{{further|Professional certification in financial services|Professional certification #Accountancy, auditing and finance|#Education}}
* [[Certified Financial Planner]]
* [[Chartered Financial Analyst]]
** [[CFA Institute]]
* [[Chartered Alternative Investment Analyst]]
* [[Professional risk manager]]
* [[Chartered Financial Consultant]]
* [[Canadian Securities Institute]]
* [[Independent financial adviser]]
** [[Chartered Insurance Institute]]
* [[Financial Risk Manager]]
* [[Chartered Market Technician]]
* [[Certified Financial Technician]]

=== Litigation ===
* [[Liabilities Subject to Compromise]]

=== Fraud ===
* [[Forex scam]]
* [[Insider trading]]
* [[Legal origins theory]]
* [[Petition mill]]
* [[Ponzi scheme]]

=== Industry bodies===
* [[International Swaps and Derivatives Association]]
* [[National Association of Securities Dealers]]

=== Regulatory bodies ===
{{main article|List of financial regulatory authorities by country}}

==== International ====
* [[Bank for International Settlements]]
* [[International Organization of Securities Commissions]]
* [[Security Commission]]
* [[Basel Committee on Banking Supervision]]
* [[Basel Accords]] – [[Basel I]], [[Basel II]], [[Basel III]]
* [[International Association of Insurance Supervisors]]
* [[International Accounting Standards Board]]

==== European Union ====
* [[European Securities Committee]] ([[European Union|EU]])
* [[Committee of European Securities Regulators]] ([[European Union|EU]])

==== Regulatory bodies by country ====

===== United Kingdom =====
* [[Financial Conduct Authority]]
* [[Prudential Regulation Authority (United Kingdom)]]

===== United States =====
* [[Commodity Futures Trading Commission]]
* [[Federal Reserve]]
* [[Federal Trade Commission]]
* [[Municipal Securities Rulemaking Board]]
* [[Office of the Comptroller of the Currency]]
* [[U.S. Securities and Exchange Commission|Securities and Exchange Commission]]

=== United States legislation ===
* [[Glass–Steagall Act]] (US)
* [[Gramm–Leach–Bliley Act]] (US)
* [[Sarbanes–Oxley Act]] (US)
* [[Securities Act of 1933]] (US)
* [[Securities Exchange Act of 1934]] (US)
* [[Investment Advisers Act of 1940]] (US)
* [[USA PATRIOT Act]]

== Actuarial topics ==
* [[Actuarial topics]]

== Valuation ==
{{hatnote|This section is corporate-finance-focused: for the valuation of derivatives and interest rate instruments see {{slink||Derivatives pricing}}; for the economic theory see {{slink||Asset pricing theory}}.}}

=== Underlying theory ===
*[[Value (economics)]]
*[[Valuation (finance)]] and specifically [[Valuation (finance)#Valuation overview|§ Valuation overview]]
*"[[The Theory of Investment Value]]"
*{{section link|Financial economics|Corporate finance theory}}
*[[Valuation risk]]
*[[Real versus nominal value (economics)]]
*[[Real prices and ideal prices]]
*[[Fair value]]
**[[Fair value accounting]]
*[[Intrinsic value (finance)|Intrinsic value]]
*[[Market price]]
*[[Value in use]]
*[[Fairness opinion]]
*[[Asset pricing]] (see also [[#Asset pricing theory]] above)
**[[Equilibrium price]]
***[[market efficiency]]
***[[economic equilibrium]]
***[[rational expectations]]
**[[Arbitrage-free]] price 
***{{section link|Rational pricing|Arbitrage free pricing}}
***{{section link|Rational pricing|Risk neutral valuation}}

=== Context ===
* ([[Corporate bond|Corporate]]) [[Bond (finance)|Bonds]]
** [[Bond valuation]]
** {{section link|Bond (finance)|Bond valuation}}
** {{section link|Corporate bond|Valuation}}
* [[Stock|Equity]] valuation
** [[#Equity valuation]] above
** [[Fundamental analysis]]
** [[Stock valuation]]
** [[Capital Markets]]
** [[Business valuation]]
** {{section link|Equity (finance)|Valuation}}
** {{section link|Intrinsic value (finance)|Equity}}
** [[Capital budgeting]] and {{section link|Corporate finance|Investment and project valuation}}
** ''[[The Theory of Investment Value]]''
* [[Real estate]] valuation
** [[Real estate appraisal]]
** [[Real estate economics]]

=== Considerations ===
*Bonds
**[[Bond (finance)#Others|covenants and indentures]]
**[[secured loan|secured]] / [[unsecured debt]]
**[[senior debt|senior]] / [[subordinated debt]]
**[[embedded option]]s
*Equity
** [[Minimum acceptable rate of return]]
** [[Margin of safety (financial)]]
** [[Enterprise value]]
** [[Sum-of-the-parts analysis]]
***[[Conglomerate discount]]
** [[Minority discount]]
** [[Control premium]]
** [[Accretion/dilution analysis]]
** [[Certainty equivalent]]
** [[Haircut (finance)]]
** [[Paper valuation]]

=== Discounted cash flow valuation ===
{{main article|Valuation using discounted cash flows}}
{{Further|Discounted cash flow|Time value of money}}

*Bond valuation
**Modeling
***{{section link|Present value|PV of a bond}}
***{{section link|Bond valuation|Present value approach}}
***{{section link|Bond valuation|Arbitrage-free pricing approach}}
***embedded options:
****[[Pull to par]]
****{{section link|Lattice model (finance)|Hybrid securities}} 
**Results
***[[Clean price]]
***[[Dirty price]]
***[[Yield to maturity]]
***[[Coupon yield]]
***[[Current yield]]
***[[Bond duration|Duration]]
***[[Bond convexity|Convexity]]
***embedded options:
****[[Option-adjusted spread]]
****[[effective duration]]
****[[effective convexity]]
**Cash flows
***[[Principal (finance)]]
***[[Coupon (bond)]]
***[[Fixed rate bond]]
***[[Floating rate note]]
***[[Zero-coupon bond]]
***[[Accrual bond]]
***[[sinking fund]] provisions
*Real estate valuation
**{{section link|Intrinsic value (finance)|Real estate}}
**[[Income approach]]
***[[Net Operating Income]]
***{{section link|Real estate appraisal|The income approach}}
***[[German income approach]]
* Equity valuation
**Results
*** [[Net present value]]
*** [[Adjusted present value]]
*** [[Equivalent Annual Cost]]
*** [[Payback period]]
*** [[Discounted payback period]]
*** [[Internal rate of return]]
*** [[Modified Internal Rate of Return]]
*** [[Return on investment]]
*** [[Profitability index]]
**Specific models and approaches 
*** [[Dividend discount model]]
*** [[Gordon growth model]]
*** [[Market value added]] / [[Economic value added]]
*** [[Residual income valuation]]
*** [[First Chicago Method]]
*** [[rNPV]]
*** [[Fed model]]
*** [[Sum of perpetuities method]]
*** [[Benjamin Graham formula]]
*** [[LBO valuation model]]
*** [[Goldman Sachs asset management factor model]]
** Cash flows
*** [[Cash flow forecasting]]
*** [[EBIDTA]]
*** [[NOPAT]]
*** [[Free cash flow]]
**** [[Free cash flow to firm]]
**** [[Free cash flow to equity]]
*** [[Dividends]]
***{{slink|Valuation using discounted cash flows|Determine cash flow for each forecast period}}

=== Relative valuation ===
{{main article|Relative valuation}}

* Bonds
** {{section link|Bond valuation|Relative price approach}}
** [[Yield spread]]
*** [[I-spread]]
*** [[Option-adjusted spread]]
*** [[Z-spread]]
*** [[Asset swap spread]]
** [[Credit spread (bond)]]
*** [[Bond credit rating]]
*** [[Altman Z-score]]
*** [[Ohlson O-score]]
*** [[Book value]]
*** [[Debt-to-equity ratio]]
*** [[Debt-to-capital ratio]]
*** [[Current ratio]]
*** [[Quick ratio]]
*** [[Debt ratio]]
* Real estate
** [[Capitalization rate]]
** [[Gross rent multiplier]]
** [[Sales comparison approach]]
*** {{section link|Real estate appraisal|The sales comparison approach}}
** [[Cash on cash return]]
* Equity
** [[Financial ratio]]
** [[Market-based valuation]]
** [[Valuation using multiples]]
** [[Comparable company analysis]]
** [[Dividend yield]]
*** [[Yield gap]]
** [[Return on equity]]
*** [[DuPont analysis]]
** [[PE ratio]]
*** [[PEG ratio]]
*** [[Cyclically adjusted price-to-earnings ratio]]
*** [[PVGO]]
** [[P/B ratio]]
** [[Valuation using multiples#Equity price based multiples|Price to cash based earnings]]
** [[Stock valuation#Price to Sales (P/S)|Price to Sales]]
** [[EV/EBITDA]]
** [[Stock valuation#EV to Sales|EV/Sales]]
** [[Stock valuation#Market criteria (potential price)|Stock image]]
** [[Valuation using the Market Penetration Model]]
** [[Graham number]]
** [[Tobin's q]]

=== Contingent claim valuation ===
{{main article|Contingent claim valuation}}
*Valuation techniques
**general
***[[Valuation of options]]
***{{section link|Option (finance)|Valuation}}
***[[#Derivatives pricing]] above
**as typically employed
***[[Real options valuation#Valuation|Real options valuation]]
***{{section link|Rational pricing|The replicating portfolio}}
***{{section link|Financial economics|Corporate finance theory}}
***{{section link|Lattice model (finance)|Hybrid securities}}
***[[Monte Carlo methods in finance]]
*Applications
**Corporate investments and [[Project#Corporate_finance|projects]]
***[[Real options]] 
***{{section link|Corporate finance|Valuing flexibility}}
***[[Contingent value rights]]
***{{section link|Business valuation|Option pricing approaches}}
***[[structured finance]] investments (funding dependent)
***[[special purpose entities]] (funding dependent)
**[[Balance sheet]] assets and liabilities
***[[Warrant (finance)|warrants]] and other [[convertible security|convertible securities]]
***securities with [[embedded option]]s such as [[callable bond]]s
***[[employee stock option]]s

=== Other approaches ===
*"Fundamentals"-based (relying on accounting information)
**[[T-model]]
**[[Residual income valuation]]
**[[Clean surplus accounting]]
**[[Valuation (finance)#Net asset value method|Net asset value method]]
**[[Valuation (finance)#Net asset value method|Excess earnings method]]
**[[Mergers and acquisitions#Business valuation|Historical earnings valuation]]
**[[Mergers and acquisitions#Business valuation|Future maintainable earnings valuation]]
**[[Graham number]]

=== Financial modeling ===
{{further|Financial modeling#Accounting}}
{{distinguish|Financial modeling#Quantitative finance}}
* [[Cash flow]]
** [[Cash flow forecasting]]
** [[Cash flow statement]]
** [[Operating cash flow]]
** [[EBIDTA]]
*** {{section link|Depreciation|Effect on cash}}
** [[NOPAT]]
** [[Free cash flow]]
*** [[Free cash flow to firm]]
*** [[Free cash flow to equity]]
** [[Dividends]]
** [[Cash is king]]
** [[Mid-year adjustment]]
** [[Owner earnings]]
* [[Required rate of return|Required return]] (i.e. discount rate)
**{{slink|Valuation using discounted cash flows|Determine discount factor / rate}}
**[[Cost of capital]]
**[[Weighted average cost of capital]]
**[[Cost of equity]]
**[[Cost of debt]]
**[[Capital asset pricing model]]
***{{section link|Beta (finance)|Empirical estimation}}
***[[Hamada's equation]]
***[[Pure play#Pure play method|Pure play method]]
**[[Arbitrage pricing theory]]
**{{section link|Business valuation|Build-up method}}
***[[Total Beta]]
**[[T-model]]
***[[T-model#The cash-flow T-model|cash-flow T-model]]
* [[Terminal value (finance)|Terminal value]]
**{{slink|Valuation using discounted cash flows|Determine the continuing value}}
**[[Forecast period (finance)]]
**long term growth rate
***{{section link|Sustainable growth rate|From a financial perspective}}
***{{section link|Stock valuation|Growth rate}}
*Forecasted [[financial statements]]
**[[Financial forecast]]
**{{section link|Financial modeling|Accounting}}
**{{section link|Pro forma|Financial statements}}
**Revenue
***[[Revenue model]]
***{{section link|Revenue|Financial statement analysis}}
***{{section link|Revenue management|Forecasting}}
***[[Net sales]]
**Costs
***[[Profit margin]]
****[[Gross margin]]
****[[Net margin]]
****[[Cost of goods sold]]
***[[Operating expenses]]
****[[Operating ratio]]
***[[Cost driver]]
***[[Fixed cost]]
***[[Variable cost]]
***[[Overhead cost]]
***[[Value chain]]
***[[activity based costing]]
***[[Financial analysis#Method|common-size analysis]]
***[[Profit model]]
**Capital
***[[Capital structure]]
***[[Financial analysis#Method|common-size analysis]]
***[[Equity (finance)]]
****[[Equity (finance)#Shareholders' equity|Shareholders' equity]]
****[[Book value]]
****[[Retained earnings]]
***[[Financial capital]]
****[[Long term asset]] / [[Fixed asset]]
*****[[Fixed-asset turnover]]
****[[Long-term liabilities]]
*****[[Debt-to-equity ratio]]
*****[[Debt-to-capital ratio]]
***[[Working capital]]
****[[Current asset]]
****[[Current liability]]
****[[Inventory turnover]] / [[Days in inventory]]
****[[Cost of goods sold]]
****[[Debtor days|Debtor & Creditor days]]
****[[Days sales outstanding]] 
****[[Days payable outstanding]]

== Portfolio theory ==

=== General concepts ===
* [[Portfolio (finance)]]
* [[Portfolio manager]] 
* [[Investment management]]
** [[Active management]]
** [[Passive management]] ([[Buy and hold]])
*** [[Index fund]]
** [[Core & Satellite]]
** [[Smart beta]]
** [[Expense ratio]]
** [[Investment style]]
*** [[Value investing]]
*** [[Contrarian investing]]
*** [[Growth investing]]
**** [[CAN SLIM]]
*** [[Index investing]]
*** [[Magic formula investing]]
*** [[Momentum investing]]
*** [[Quality investing]]
*** [[Style investing]]
*** [[Factor investing]]
**[[Investment strategy]]
***[[Benchmark-driven investment strategy]]
***[[Liability-driven investment strategy]]
**{{slink|Financial risk management|Investment management}}
*[[Investor profile]]
*[[Rate of return on a portfolio]] / [[Investment performance]]
*[[Risk return ratio]]
**[[Risk–return spectrum]]
*[[Risk factor (finance)]]
*[[Portfolio optimization]]
*[[Diversification (finance)]]
*[[Asset classes]]
**[[Exter's Pyramid]]
*[[Asset allocation]]
**[[Tactical asset allocation]]
***[[Global tactical asset allocation]]
***[[Cyclical tactical asset allocation]]
**[[Asset allocation#Strategic asset allocation|Strategic asset allocation]]
**[[Dynamic asset allocation]]
*[[Sector rotation]]
*[[Correlation]] & [[covariance]]
**[[Covariance matrix]]
**[[Covariance matrix#Correlation matrix|Correlation matrix]]
*[[Risk-free interest rate]]
*[[Leverage (finance)]]
*[[Utility function]]
*[[Intertemporal portfolio choice]]
*[[Portfolio insurance]]
**[[Constant proportion portfolio insurance]]
*{{section link|Mathematical finance|Risk and portfolio management: the P world}}
*[[Quantitative investment]] / [[Quantitative fund]] (see [[#Quantitative investing|below]])
*[[Uncompensated risk]]

=== Modern portfolio theory ===
{{main article|Modern portfolio theory}}
{{Further|Financial economics#Uncertainty}}
*[[Portfolio optimization]]
**[[Risk return ratio]]
**[[Risk–return spectrum]]
**[[Economic efficiency]]
***[[Efficient-market hypothesis]]
***[[Random walk hypothesis]]
**[[Utility maximization problem]]
**[[Markowitz model]]
**[[Merton's portfolio problem]]
**[[Kelly criterion]]
**[[Roy's safety-first criterion]]
*Theory and results (derivation of the CAPM)
**[[Equilibrium price]]
**[[Market price]]
**[[Systematic risk]]
***[[Risk factor (finance)]]
**[[Idiosyncratic risk]] / [[Specific risk]]
**[[Mean-variance analysis]] ([[Two-moment decision model]])
**[[Efficient frontier]] ([[Mean variance efficiency]])
**[[Feasible region|Feasible set]]
**[[Mutual fund separation theorem]]
***[[Separation property (finance)]]
**[[Tangent portfolio]]
**[[Market portfolio]]
**[[Beta (finance)]]
***[[Fama–MacBeth regression]]
***[[Hamada's equation]]
***{{section link|Capital structure substitution theory|Beta}}
**[[Capital allocation line]]
**[[Capital market line]]
**[[Security characteristic line]] 
**[[Capital asset pricing model]]
***[[Single-index model]]
**[[Security market line]]
**[[Roll's critique]]
*Related measures
**[[Alpha (finance)]]
**[[Sharpe ratio]]
**[[Treynor ratio]]
**[[Jensen's alpha]]
*Optimization models
**[[Markowitz model]]
**[[Treynor–Black model]]
<!-- **[[Goldman Sachs asset management factor model]] -->

*[[Asset pricing#General equilibrium asset pricing|Equilibrium pricing models]] (CAPM and extensions)
**[[Capital asset pricing model]] (CAPM)
**[[Consumption-based capital asset pricing model]] (CCAPM)
**[[Intertemporal CAPM]] (ICAPM)
**[[Single-index model]]
**[[Multiple factor models]] (see [[Risk factor (finance)]])
***[[Fama–French three-factor model]]
***[[Carhart four-factor model]]
***[[Arbitrage pricing theory]] (APT)

=== Post-modern portfolio theory ===
{{main article|Post-modern portfolio theory}}
{{Further|Financial economics#Portfolio theory}}
*Approaches
**[[Behavioral portfolio theory]]
**[[Stochastic portfolio theory]]
***[[Chance-constrained portfolio selection]]
**[[Maslowian portfolio theory]]
**[[Dedicated portfolio theory]] ([[fixed income]] specific)
**[[Risk parity]]
**[[Tail risk parity]]
*Optimization considerations
**[[Pareto efficiency]]
**[[Bayesian efficiency]]
**[[Multiple-criteria decision analysis]]
**[[Multi-objective optimization]]
**[[Stochastic dominance]]
***[[Stochastic dominance#Second-order|Second-order Stochastic dominance]]
***[[Marginal conditional stochastic dominance]]
**[[Downside risk]]
**[[Post-modern portfolio theory#Volatility skewness|Volatility skewness]]
**[[Variance#Semivariance|Semivariance]]
**[[Expected shortfall]] (ES; also called conditional value at risk (CVaR), average value at risk (AVaR), expected tail loss (ETL))
**[[Tail value at risk]]
**[[Statistical dispersion]]
**[[Discounted maximum loss]]
**[[Indifference price]]
*Measures
**[[Dual-beta]]
***[[Downside beta]]
***[[Upside beta]]
**[[Upside potential ratio]]
**[[Upside risk]]
**[[Downside risk]]
**[[Sortino ratio]]
**[[Omega ratio]]
**[[Bias ratio]]
**[[Information ratio]]
***[[Active return]]
***[[Active risk]]
**[[Deviation risk measure]]
**[[Distortion risk measure]]
**[[Spectral risk measure]]
*Optimization models
**[[Black–Litterman model]]
**[[Universal portfolio algorithm]]
**[[Resampled efficient frontier]]

=== Performance measurement ===
{{see also|List of financial performance measures}}
*[[Alpha (finance)]]
*[[Beta (finance)]]
*[[Performance attribution]]
**[[Market timing]]
**[[Stock selection criterion|Stock selection]]
*[[Fixed-income attribution]]
*[[Benchmark (finance)]]
*[[Lipper average]]
*[[Returns-based style analysis]]
*[[Rate of return on a portfolio]]
*[[Holding period return]]
*[[Tracking error]]
**[[Attribution analysis]]
*[[Style drift]]
**[[Returns-based style analysis]]
*[[Simple Dietz method]]
*[[Modified Dietz method]]
*[[Modigliani risk-adjusted performance]]
*[[Upside potential ratio]]
*[[Maximum Downside Exposure (MDE)|Maximum Downside Exposure]]
*[[Maximum drawdown]]
**[[Sterling ratio]]
*[[Sharpe ratio]]
*[[Treynor ratio]]
*[[Jensen's alpha]]
*[[Bias ratio]]
*[[V2 ratio]]
*[[Calmar ratio]] (hedge fund specific)

=== Mathematical techniques ===
*{{slink|Modern portfolio theory|Mathematical model}}
*[[Quadratic programming]]
**[[Critical line method]]
*[[Nonlinear programming]]
*[[Mixed integer programming]]
*[[Stochastic programming]] ([[Stochastic programming#Multistage portfolio optimization|§ Multistage portfolio optimization]])
*[[Copula (probability theory)]] ([[Copula (probability theory)#Quantitative finance|§ Quantitative finance]])
*[[Principal component analysis]] ([[Principal component analysis#Quantitative finance|§ Quantitative finance]])
*[[Deterministic global optimization]]
*[[Extended Mathematical Programming]] ([[Extended Mathematical Programming (EMP)#EMP for stochastic programming|§ EMP for stochastic programming]])
*[[Genetic algorithm]] ({{section link|List of genetic algorithm applications|Finance and Economics}})
*[[Artificial intelligence]]:
**{{slink|Applications of artificial intelligence#Trading and investment}}
**[[Machine learning]] ([[Machine learning#Applications|§ Applications]])
**[[Artificial neural network]] ([[Artificial_neural_network#Finance|§ Finance]])

== Quantitative investing ==
{{main article|Quantitative investing}}
*[[Quantitative investing]]
*[[Quantitative fund]]
*{{section link|Quantitative_analysis_(finance)|Quantitative_investment_management}} 
*{{slink|Quantitative analysis (finance)|Algorithmic trading quantitative analyst}}
*{{slink|Applications of artificial intelligence#Trading and investment}}
*Trading:
**[[Automated trading]]
**[[High-frequency trading]]
**[[Algorithmic trading]]
**[[Program trading]]
**[[Systematic trading]]
***{{section link|Technical_analysis|Systematic_trading}}
**[[Trading strategy]]
**[[Mirror trading]]
**[[Copy trading]]
**[[Social trading]]
**[[VWAP]]
**[[TWAP]]
**[[Electronic trading platform]]
**[[Statistical arbitrage]]
*Portfolio optimization:
** {{section link|Portfolio optimization |Optimization methods}}
** {{section link|Portfolio optimization |Mathematical tools}}
**[[Black–Litterman model]]
**[[Universal portfolio algorithm]]
**[[Markowitz model]]
**[[Treynor–Black model]]
**[[Portfolio optimization#Improving portfolio optimization|other models]]
**[[Factor investing]]
***[[low-volatility investing]]
***[[value investing]]
***[[momentum investing]]
**[[Alpha generation platform]]
**[[Kelly criterion]]
**[[Roy's safety-first criterion]]
*Risks:
**[[Best execution]]
**[[Implementation shortfall]]
**[[Trading curb]]
**[[Market impact]]
**[[Market depth]]
**[[Slippage (finance)]]
**[[Transaction costs]]
*Discussion:
**{{section link|Automated_trading_system|Market_disruption_and_manipulation}}
**{{section link|High-frequency_trading|Risks_and_controversy}}
**{{section link|Algorithmic_trading|Issues_and_developments}}
**{{section link|Positive_feedback|Systemic_risk}}
**[[2010 flash crash]]
**{{section link|Black_Monday_(1987)|Causes}}
**{{section link|Statistical arbitrage |StatArb and systemic risk: events of summer 2007}}
*Leading companies (see {{slink|Quantitative fund#List of notable quantitative funds}}):
**[[Prediction Company]]
**[[Renaissance Technologies]] 
**[[D. E. Shaw & Co]]
**[[AQR Capital]]
**[[Barclays Investment Bank]]
**[[Cantab Capital Partners]]
**[[Robeco]]
**[[Jane Street Capital]]

== Financial software tools ==
{{more|Business software}}
{{also|List of free and open-source software packages#Finance}}
* [[Financial software]]
* [[Financial management#Financial management systems|Financial management systems]]
* [[Financial data vendor]]
* [[Accounting software]]
** [[Straight-through processing]]
* [[Banking software]]
* [[Treasury management system]]
* [[Strategic_planning_software#Types|Strategic planning software]]
* [[Technical Analysis Software (Finance)|Technical Analysis Software]]
* [[Algorithmic trading]]
* [[Electronic trading platform]]
* [[List of numerical-analysis software|Numerical-analysis software]] ([[Comparison of numerical-analysis software|comparison]])

== Financial modeling applications==
{{main article|Financial modeling}}

=== Corporate Finance ===
*[[Business valuation]] / [[stock valuation]] – especially via [[Valuation using discounted cash flows|discounted cash flow]], but including [[Valuation (finance)#Valuation overview|other valuation approaches]]
*[[Scenario planning]] and [[Management accounting#Role within a corporation|management decision making]] ("what is"; "what if"; "what has to be done"<ref name="SiegelShim1997">{{cite book|author1=Joel G. Siegel|author2=Jae K. Shim|author3=Stephen Hartman|title=Schaum's quick guide to business formulas: 201 decision-making tools for business, finance, and accounting students|url=https://books.google.com/books?id=4JpojQPk8YsC|access-date=12 November 2011|date=1 November 1997|publisher=McGraw-Hill Professional|isbn=978-0-07-058031-2}} §39 "Corporate Planning Models". See also, §294 "Simulation Model".</ref>)
*[[Capital budgeting]], including [[cost of capital]] (i.e. [[Weighted average cost of capital|WACC]]) calculations
*[[Financial statement analysis]] / [[Financial ratio|ratio analysis]] (including of [[Operating lease|operating-]] and [[finance lease]]s, and [[Research and development|R&D]])
*Revenue related: [[Revenue management#Forecasting|forecasting]], [[Revenue#Financial statement analysis|analysis]]
*[[Project finance model]]ing
*[[Cash flow forecasting]]
*Credit decisioning: [[Credit analysis]], [[Consumer credit risk]]; [[Impairment (financial reporting)|impairment-]] and [[Provision (accounting)|provision]]-modeling 
*[[working capital management|Working capital-]] and [[treasury management]]; [[asset and liability management]]
*Management accounting: [[Activity-based costing]], [[Profitability analysis]], [[Cost analyst|Cost analysis]], [[Whole-life cost]]

=== Quantitative finance ===
*[[Valuation of options|Option pricing]] and calculation of [[Greeks (finance)|their "Greeks"]]
*Other [[derivative (finance)|derivatives]], especially [[interest rate derivative]]s, [[credit derivative]]s and [[exotic derivatives]]
*Modeling the term structure of [[interest rate]]s ([[Bootstrapping (finance)|bootstrapping]] / [[multi-curve framework|multi-curves]], [[short-rate model]]s, [[Heath–Jarrow–Morton framework|HJM framework]]) and [[credit spread (bond)|credit spread]]s
*[[Credit valuation adjustment]], CVA, as well as the various [[XVA]]
*[[Credit risk]], [[counterparty credit risk]], and [[regulatory capital]]: [[exposure at default|EAD]], [[probability of default|PD]], [[loss given default|LGD]], [[potential future exposure|PFE]]
*[[Structured product#Product design and manufacture|Structured product design and manufacture]]
*[[Portfolio optimization]]<ref>See for example: {{cite journal|last1=Low|first1=R.K.Y.|last2=Faff|first2=R.|last3=Aas|first3=K.|title=Enhancing mean–variance portfolio selection by modeling distributional asymmetries|journal=Journal of Economics and Business|volume=85|pages=49–72|date=2016|doi=10.1016/j.jeconbus.2016.01.003|url=https://espace.library.uq.edu.au/view/UQ:377912/UQ377912_OA.pdf}}; {{cite journal|last1=Low|first1=R.K.Y.|last2=Alcock|first2=J.|last3=Faff|first3=R.|last4=Brailsford|first4=T.|title=Canonical vine copulas in the context of modern portfolio management: Are they worth it?|journal=Journal of Banking & Finance|date=2013|volume=37|issue=8|pages=3085–3099|doi= 10.1016/j.jbankfin.2013.02.036|s2cid=154138333 |url=https://espace.library.uq.edu.au/view/UQ:297895/EC15UQ297895.pdf}}</ref> and [[Quantitative investing]] more generally; see further re [[Portfolio optimization#Optimization methods|optimization methods employed]].
*[[Financial risk modeling]]: [[value at risk]] ([[Value at risk#Computation methods|parametric-]] and / or [[Historical simulation (finance)|historical]], [[conditional value at risk|CVaR]], [[extreme value theory|EVT]]), [[stress test (financial)|stress testing]], [[PnL Explained#Sensitivities method|"sensitivities" analysis]]

== Financial institutions ==
[[Financial institution]]s
* [[Bank]]
** [[List of banks]]
*** [[List of banks in the Arab World]]
*** [[List of banks in Africa]]
*** [[List of banks in the Americas]]
*** [[List of banks in Asia]] 
*** [[List of banks in Europe]]
*** [[List of banks in Oceania]]
*** [[List of international banking institutions]]
** [[Advising bank]]
** [[Central bank]]
*** [[List of central banks]]
** [[Commercial bank]]
** [[Community development bank]]
** [[Cooperative bank]]
** [[Custodian bank]]
** [[Depository bank]]
** [[Ethical bank]]
** [[Investment bank]]
** [[Islamic banking]]
** [[Merchant bank]]
** [[Microcredit]]
** [[Mutual savings bank]]
** [[Offshore bank]]
** [[Private bank]]
** [[Savings bank]]
** [[Swiss bank]]
** [[Bank holding company]]
* [[Building society]]
* [[Broker]]
** [[Broker-dealer]]
** [[Brokerage firm]]
** [[Commodity broker]]
** [[Insurance broker]]
** [[Prime brokerage]]
** Retail broker
** [[Stockbroker]]
* [[Clearing house (finance)|Clearing house]]
* [[Commercial Loan|Commercial lender]]
* [[Community development financial institution]]
* [[Credit rating agency]]
* [[Credit union]]
* [[Diversified financial]]
* [[Edge Act Corporation]]
* [[Export Credit Agencies]]
* [[Financial adviser]]
* [[Financial intermediary]]
* [[Financial planner]]
* [[Futures exchange]]
** [[List of futures exchanges]]
* [[Government sponsored enterprise]]
* [[Hard money lender]]
* [[Independent financial adviser]]
* [[Industrial loan company]]
* [[Insurance company]]
* [[Investment adviser]]
* [[Investment company]]
* [[Investment trust]]
* [[Large and Complex Financial Institutions]]
* [[Mutual fund]]
* [[Non-banking financial company]]
* [[Savings and loan association]]
* [[Stock exchange]]
** [[List of stock exchanges]]
* [[Trust company]]

== Education ==
*For the typical finance [[career path]] and corresponding education requirements see:
**[[Financial analyst]] generally, and esp. [[Financial analyst#Qualification|§ Qualification]], discussing various investment, banking, and corporate roles (i.e. financial management, corporate finance, investment banking, securities analysis & valuation, portfolio & investment management, credit analysis, working capital & treasury management; see {{section link|Financial modeling |Accounting}})
**[[Quantitative analyst]], {{section link|Quantitative analysis (finance) |Education}} and {{section link|Financial engineering|Education}}, specifically re roles in quantitative finance (i.e. derivative pricing & hedging, interest rate modeling, financial risk management, financial engineering, computational finance; also, the mathematically intensive variant on the banking roles; see {{section link|Financial modeling |Quantitative finance}})
*[[Business education]] lists [[undergraduate degree]]s in business, commerce, accounting and economics; "finance" may be taken as a [[academic major|major]] in most of these, whereas "quantitative finance" is almost invariably postgraduate, following a [[Mathematics education#Content and age levels|math-focused Bachelors]]; the most common degrees for (entry level) investment, banking, and corporate roles are:
**[[Bachelor of Business Administration]] (BBA)
**[[Bachelor of Commerce]] (BCom)
**[[Bachelor of Accountancy]] (B.Acc)
**[[Bachelor of Economics]] (B.Econ)
**[[Bachelor of Finance]] – the undergraduate version of the MSF below 
**The [[tagged degree|tagged]] [[Bachelor of Science|BS]] / [[Bachelor of Arts|BA]] "in Finance", or less common, [[Investment management#Education or certification|"in Investment Management"]] or "in Personal Finance"
*At [[Business education#Postgraduate education|the postgraduate level]], the [[MBA]], [[master of commerce|MCom]] and [[Master of Science in Management|MSM]] (and recently the [[Master of Applied Economics]]) similarly offer training in finance generally; at this level there are also the following specifically focused [[master's degree]]s, with MSF the broadest – see {{section link|Master of Finance|Comparison with other qualifications}} for their focus and inter-relation:
**[[Master of Applied Finance]] (M.App.Fin)
**[[Master of Commerce]] in Finance (MCom)
**[[Master of Computational Finance]]
**Master's in Corporate Finance
**[[Master of Finance]] (M.Fin, MIF)
** Master's in Financial Analysis
**[[Master of Financial Economics]]
**[[Master of Financial Engineering]] (MFE)
**Master of Financial Planning
**Master's in Financial Management
**[[Master of Financial Mathematics]]
**[[Master of Quantitative Finance|Master's in Financial Risk Management]]
**Master's in Investment Management
**[[Master of Mathematical Finance]]
**[[Master of Quantitative Finance]] (MQF)
**[[Master of Science in Finance]] (MSF, MSc Finance)
**MS in [[Fintech]]
*[[Business education#Doctoral|Doctoral-training]] in finance is usually a requirement for [[academia]], but not relevant to industry
**quants often ''enter'' the profession with [[Doctor of Philosophy|PhD]]s in disciplines such as physics, mathematics, engineering, and computer science, and learn finance "on the job”
**as [[List of fields of doctoral studies in the United States#Business management/administration|an academic field]], finance theory is studied and developed within the disciplines of [[management]], ([[financial economics|financial]]) economics, accountancy, and [[applied mathematics|applied]] / [[financial mathematics]].
*For specialized roles, there are various [[Professional certification in financial services|Professional Certifications in financial services]] (see [[#Designations and accreditation]] above); the [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2345545 best recognized] are arguably:
**[[Association of Corporate Treasurers]] (MCT / FCT)
**[[Certificate in Quantitative Finance]] (CQF)
**[[Certified Financial Planner]] (CFP)
**[[Certified International Investment Analyst]] (CIIA)
**[[Certified Treasury Professional]] (CTP)
**[[Chartered Alternative Investment Analyst]] (CAIA)
**[[Chartered Financial Analyst]] (CFA)
**[[Professional certification in financial services#Chartered Wealth Manager|Chartered Wealth Manager]] (CWM)
**[[CISI Diploma|CISI Diploma in Capital Markets]] (MCSI)
**[[Financial Risk Manager]] (FRM)
**[[Professional Risk Manager]] (PRM)
*Various organizations offer [[executive education]], [[Continuing professional development|CPD]], or other focused training programs, including:
**[[Amsterdam Institute of Finance]]
**[[Canadian Securities Institute]]
**[[Chartered Institute for Securities & Investment]]
**[[Global Association of Risk Professionals|GARP]]
**[[Global Risk Institute]]
**[[ICMA Centre]]
**[[The London Institute of Banking & Finance]]
**[[New York Institute of Finance]]
**[[PRMIA]] 
**[[South African Institute of Financial Markets]]
**[[Swiss Finance Institute]]
*See also qualifications in related fields:
**{{section link|Accounting |Education, training and qualifications}}
**[[Actuarial credentialing and exams]]
**[[Business education]]
**{{slink|Credit analyst|Education}}
**[[Economics education]]
**{{section link|Management |Training and education}}
**{{slink|Chief financial officer|Qualifications}}

== See also ==
* [[Capitalism]]
* [[Financial law]]

== Related lists ==
* [[Index of accounting articles]]
* [[Outline of business management]]
* [[Outline of marketing]]
* [[Outline of economics]]
* [[Outline of production]]
* [[Index of international trade articles]]
* [[Outline of commercial law]]
* [[List of business theorists]]
* [[Outline of actuarial science]]

== References ==
{{reflist}}

== External links ==
{{sister project links|Finance}}
* [http://pages.stern.nyu.edu/~adamodar/ Prof. Aswath Damodaran] – financial theory, with a focus in Corporate Finance, Valuation and Investments. Updated Data, Excel Spreadsheets.
*[http://web.utk.edu/~jwachowi/wacho_world.html Web Sites for Discerning Finance Students] (Prof. John M. Wachowicz) -Links to finance web sites, grouped by topic 
*[http://www.studyfinance.com/ studyfinance.com] – introductory finance web site at the [[University of Arizona]] 
*[http://www.seclaw.com SECLaw.com] – law of the financial markets
{{Outline footer}}
<!-- ==Further reading==
* Ferraino, Cindy. ''The Complete Dictionary of Accounting & Bookkeeping Terms Explained Simply'' (2010)
* Mooney, Kate. ''The Essential Accounting Dictionary'' (Sphinx Dictionaries) (2008)
* Shim, Jae K. ed. ''Dictionary of Accounting Terms'' (Barron's Business Dictionaries) (6th ed. 2014) [https://archive.org/details/isbn_9780764112591 online free to borrow] -->
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* [[Insurance]]
* [[Bank]]
* [[Budget]]
* [[Capital (economics)|Capital]]
* [[Cash flow]]
* [[Checking]]
* [[Contract]]
* [[Certified Public Accountant|CPA]]
* [[Credit (finance)|Credit]]
* [[Inventory]]
* [[Investment]]
* [[Investor]]
* [[Junk bond]]
* [[Money fund]]
* [[Money order]]
* [[Opportunity cost]]
* [[Owner]]
* [[Royalties]]
* [[Savings]]
* [[Stock]]
* [[Wire transfer]]

[[Funding]]
[[Hedge (finance)|Hedging]]
[[Interest]]
[[Yield (economics)|Yield]]
[[Arbitrage]]
'''Financial Vehicles'''
[[Collective investment scheme]]
[[trust law|Trusts]]
-->

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