Sunday, April 24, 2011

Book Reviews 2 -- Continuning Professional Education in Finance

I was going through my files over the long weekend and found this letter which I sent to the AIM-MM students a couple of months back. For the benefit of my former MM Classmates and former MBA students (n.b., even in the other Graduate Schools of Business where I have taught, such as DLSU, UST, UA&P, and San Beda), to serve as a form of “refresher course,” I decided to post it here.

Happy Easter and Happy Reading!


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To : The Master in Management Class of 2011
Asian Institute of Management

From : Prof. Francisco C. de la Cruz Jr.

Date : February 22, 2011

Re : Suggested Readings for your own Continuing Professional Education (Self-Study)


As Professional Managers you will often encounter problems, sometimes even problems technical in nature, which you were not academically trained to handle. But not being academically trained cannot be an excuse for you to not solve these problems.

As Professional Managers, we cannot allow ourselves to be paralyzed by lack of expertise in certain areas, considering that there will always be certain areas we won’t have any expert grip on. What we need therefore are the skills to cope, and the attitude of believing that we can cope. To know what information to look for, where to look, how to look for it (including knowing whom to work with and how to work with them), and what to do with the information once we do find it – these are the essential skills that we need. Pertinently, I am confident that these are some of the skills that are being developed in you by the MM Program, just as it did for me.

Indeed one of the most important thrusts of the MM Program is to inculcate in you the skill and confidence to teach yourselves what you need to know in order to solve almost any managerial problem. In light of this, I am providing you here-below with a list of some useful references in Finance which you could use to “educate yourselves” should you wish to specialize and pursue a career in Finance; or at least if you wish to know more about the subject for the sheer scholarly pleasure of it.

Incidentally, please note that some of the following materials were recommended by my own professors here at the Asian Institute of Management when I myself was an MM student (batch 1994-95). And some were recommended by my fellow professors at other graduate schools of business where I have previously taught. And some, were of course my own finds. So rest assured that these materials are well-received in the academe.

1. “Principles of Corporate Finance” by Brealey and Myers

2. “Financial and Managerial Accounting (The Basis for Business Decisions),” by Williams, Haka, Bettner, and Meigs. McGraw Hill Publication.

3. “Cost Accounting (A Managerial Emphasis),” by Charles T. Horngren et al

4. “Financial Management in the Philippine Setting, Text and Cases” by Cesar G. Saldaña

5. “Principles of International Finance” by Daniel R. Kane

6. “Corporate Finance” by Roass, Westerfield, Jaffee

7. “Financial Management and Policy” by Van Horne

8. “Investment Decisions and Financial Strategy” by Richard Pike and Richard Dobbins

9. “Investment Analysis and Portfolio Management” by Frank Reilly

10. “Fundamentals of Investments” by Alexander and Sharpe

11. “Essentials of Managerial Finance” by Weston and Brigham

12. “A Guide for Using the Foreign Exchange Market” by Townsend Walker

13. “A Random Walk Down Wall Street” by Burton G. Malkiel

14. “Economics Explained” by Robert L. Heillroner and Lester C. Thurow


Of course apart from (or instead of) the books listed above, you can always find other very helpful books in Finance. The AIM Library (n.b., or the DLSU, UST, UA&P, and San Beda libraries for that matter) has an excellent collection, take advantage of it.

At any rate, please always bear in mind that the discipline of Finance is a vast universe that is even still expanding. There are many fields and sub-fields – and any sub-field (e.g., currency trading) can be a broad area of study in itself. So it is important to focus only on what is relevant to your career.

But if you also want to read on a broader range of topics, please check out the following blog: http://fccresearchdigests.blogspot.com/2010/08/book-reviews_25.html

Happy Reading!


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