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Financial Markets & Institutions, 14th Edition

Jeff Madura, Ohaness Paskelian

  • Copyright 2025
  • {{checkPublicationMessage('Published', '2024-02-28T00:00:00+0000')}}
Starting At $74.95 See pricing and ISBN options
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Financial Markets & Institutions 14th Edition by Jeff Madura/Ohaness Paskelian
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Overview

Madura/Paskelian's FINANCIAL MARKETS & INSTITUTIONS, 14th Edition, demonstrates how financial institutions are integrated within financial markets. Functions and tools of the Federal Reserve System conducting monetary policy, major debt, equity security markets and derivative security markets are explored. The text covers stock valuation, market microstructure and liquidity. Understand how financial technology is changing the role and function of financial institutions and providing new sources of funding. Study the management, performance and regulatory environment of each type of financial institution. Critical-Thinking Questions, Flow of Funds Exercises and online research help students learn, apply and use examples connecting concepts to financial trends. MindTap provides an integrated e-text, homework assignments, quizzes and test bank in one complete online resource for students.

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Meet the Authors

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Jeff Madura

Jeff Madura is presently Emeritus Professor of Finance at Florida Atlantic University. He has written several successful finance texts, including FINANCIAL MARKETS & INSTITUTIONS (now in its 14th edition). His research on international finance has been published in numerous journals, including Journal of Financial and Quantitative Analysis; Journal of Banking and Finance; Journal of Money, Credit and Banking; Journal of International Money and Finance; Financial Management; Journal of Financial Research; Financial Review; Journal of International Financial Markets, Institutions, and Money; Global Finance Journal; International Review of Financial Analysis; and Journal of Multinational Financial Management. Dr. Madura has received multiple awards for excellence in teaching and research and he has served as a consultant for international banks, securities firms and other multinational corporations. He served as a director for the Southern Finance Association and the Eastern Finance Association and he is also former president of the Southern Finance Association.

Ohaness Paskelian

Dr. Ohaness Paskelian presently serves as Professor of Finance at the University of Houston Downtown. He received his bachelor's degree in computer and communications engineering from the American University of Beirut in Lebanon, then moved to the United States and received his Ph.D. in financial economics from the University of New Orleans. He has more than twenty years of experience teaching graduate- and undergraduate-level courses. In addition, he holds the Chartered Financial Analyst (CFA) designation. His research interests are in the areas of international financial markets and institutions, corporate finance and investments. His research on international finance has been published in numerous journals, including the Global Finance Journal, Applied Financial Economics, Journal of Emerging Markets and Journal of Emerging Markets, among others. He has received several research grants and presented his research at numerous national and international conferences. He served on the organizing committee and as program chair and treasurer for the Academy of International Business, U.S. Southwest chapter for several years.

What's New

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  • REVISED AND UPDATED CONTENT. Significant revisions to Chapter 5 reflect the FED's more recent shift in monetary policy (IOR, ON-RRP) to influence the fed funds rate.
  • NEW CHAPTER ON FINTECH. A new addition, Chapter 27, provides an introduction to the current developments in financial technology and its impact on financial markets and institutions. This covers the origins of Fintech, cryptocurrencies, blockchain and key innovations in banking, lending, investing, advisory and insurance services. The chapter concludes with a discussion on current regulatory oversight and cybersecurity implications.
  • CHAPTER OBJECTIVES ARE NOW MAPPED TO END-OF-CHAPTER PROBLEMS. These end-of-chapter problems have been thoroughly updated to improve assurance of learning, including new numbers and rates as well as reflecting key changes to the text.
  • CURRENT, RELEVANT EXAMPLES REINFORCE REAL-WORLD APPLICATION OF CONCEPTS. Numerous updated examples throughout this edition reflect the latest developments in today's financial world. Striking examples reinforce key concepts and clearly demonstrate the practical applications and importance of the material students are learning.
  • SUBSTANTIAL END-OF-CHAPTER QUESTIONS CHECK AND REINFORCE STUDENT COMPREHENSION. Your students can check their understanding of important concepts and skills using the large variety of questions at the end of each chapter. In addition, students can use midterm and final self-examinations to ensure they fully comprehend course material.

Features

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  • ONGOING FLOW OF FUNDS EXERCISE EMPHASIZES PRACTICAL APPLICATION OF USING FINANCIAL MARKETS AND SERVICES. The continuing Flow of Funds Exercise at the end of each chapter clearly illustrates how a single manufacturing company relies on all types of financial markets, institutions and services.
  • INTEGRATIVE PROBLEMS DEMONSTRATE HOW FINANCIAL CONCEPTS FROM EACH CHAPTER WORK TOGETHER. An integrative problem at the end of each part clearly illustrates how concepts from each of the chapters in every part work together and rely upon or impact one another.

Table of Contents

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Part I: OVERVIEW OF THE FINANCIAL ENVIRONMENT.
1. Role of Financial Markets and Institutions.
2. Determination of Interest Rates.
3. Structure of Interest Rates.
Part II: THE FED AND MONETARY POLICY.
4. Functions of the Fed.
5. Monetary Policy.
Part III: DEBT SECURITY MARKETS.
6. Money Markets.
7. Bond Markets.
8. Bond Valuation and Risk.
9. Mortgage Markets.
Part IV: EQUITY MARKETS.
10. Stock Offerings and Investor Monitoring.
11. Stock Valuation and Risk.
12. Market Microstructure and Strategies.
Part V: DERIVATIVE SECURITY MARKETS.
13. Financial Futures Markets.
14. Options Markets.
15. Swap Markets.
16. Foreign Exchange Derivative Markets.
Part VI: COMMERCIAL BANKING.
17. Commercial Bank Operations.
18. Bank Regulation.
19. Bank Management.
20. Bank Performance.
Part VII: NONBANK OPERATIONS.
21. Thrift Operations.
22. Finance Company Operations.
23. Mutual Fund Operations.
24. Securities Operations.
25. Insurance Operations.
26. Pension Fund Operations.
27. Fintech.
Appendix A: Comprehensive Project.
Appendix B: Using Excel to Conduct Analyses.
Glossary.
Index.

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MindTap Options

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Each MindTap product offers the full, mobile-ready textbook combined with superior and proven learning tools at one affordable price. Students who purchase digital access can add a print option at any time when a print option is available for their course.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

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  • ISBN-10: 0357988302
  • ISBN-13: 9780357988305
  • RETAIL $99.95
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Textbook Only Options

Traditional eBook and Print Options

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  • ISBN-10: 0357988388
  • ISBN-13: 9780357988381
  • RETAIL $74.95

  • ISBN-10: 0357988299
  • ISBN-13: 9780357988299
  • RETAIL $199.95
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Supplements

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Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

FOR STUDENTS

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ISBN: 9780357988305
MindTap for Madura/Paskelian's FINANCIAL MARKETS & INSTITUTIONS, 14th Edition, is the online learning platform that powers students from memorization to mastery. It gives you complete control of your course to provide engaging content, challenge every individual and build their confidence. Empower students to accelerate their progress with MindTap. MindTap: Powered by You. MindTap gives you complete ownership of your content and learning experience. Customize the interactive syllabi, emphasize the most important topics and add your own material or notes in the eBook.