Books
Five tools to develop your business model. Kyiv: International Finance Corporation, 2011, 64 p.
“There are at least two reasons why discussing and formulating a business model is beneficial for a company. Firstly, during such discussions, new ideas are born on how to make the business model more efficient and sustainable. Secondly, a well-thought-out and formulated business model helps facilitate more effective communications both within the company – with those individuals upon whom its implementation depends, and externally – with consumers, partners, and investors. Our goal is to offer several practical tools that could help find solutions for business development and efficiently implement them. These tools represent a synthesis of modern developments from renowned experts, consultants, and researchers, which have undergone practical testing in numerous companies and have proven their effectiveness.”
“Business Risk Management. Kyiv: International Finance Corporation, 2011, 50 pages.”
“The purpose of this manual is to offer a series of ideas and practical steps for establishing an effective risk management system within a company. Sometimes one may hear the opinion that risk management systems are only needed by large enterprises and companies operating in the financial services sector. However, this is not the case. A risk management system is necessary in any business (small and medium-sized enterprises included) as it enables more informed decision-making, makes the company more resilient, allows for the limitation of losses, and helps preserve the business during crises. The key elements of the risk management system are discussed in the first section. The second section covers a range of practical tools for monitoring and controlling various types of risks, which are relevant to most companies: project, credit, price, currency, and interest rate risks.”
Managerial Economics: Business Strategy and Organizational Structure
This book is still unfinished even in manuscript form. There are several reasons that motivated its writing. Firstly, the need to summarize the experience of teaching the Managerial Economics course for senior managers within the Executive MBA program at MIB from 2001 to 2009. Secondly, the desire to offer a course on modern (rather than century-old) economics, oriented towards practitioners, i.e., written in simple language but without oversimplifying the reality we encounter daily. Finally, thirdly, my experience as a company executive, as well as a consultant, suggests that understanding economic laws, an “economic way of thinking,” and knowledge of the principles of modern economic science really help in making key management decisions – both regarding the company’s strategy and its organizational structure. This practical experience will be reflected in a number of practical examples and case studies.
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Investments: A Course in Modern Financial Theory. Kyiv: Kyiv Investment Agency, 1997, 432 pages.
The book “Investments” became, in fact, one of the first (if not the first) original Russian-language textbooks on modern financial theory in the post-Soviet space. To this day, I am very grateful to the Eurasia Foundation for the financial support of this project. It is primarily a course of lectures, i.e., a textbook that does not contain any original ideas, but nevertheless, it is an attempt to present most of the important provisions of modern finance in such a way that it becomes understandable and close to people working in transitional economies. Of course, this book would not have been possible without the opportunity to work for almost 5 months (in total – in 1993 and 1996) in the magnificent libraries of the World Bank and the International Monetary Fund in Washington. I am very grateful to my brother – Sergey Mertens, who took on the publication of the book and chose the excellent cover. Special thanks to the readers who continue to send feedback on the book to this day, despite its relatively small print run (4 thousand copies), which quickly spread across the CIS countries. Undoubtedly, the book is outdated today, and I very much hope that I will have the opportunity to publish a second edition, which, apparently, will have to be rewritten from scratch by 90%.
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Interest Rate Risk
A sufficiently detailed and rigorous, yet not requiring special mathematical preparation, exposition of modern methods for evaluating fixed-income instruments and managing interest rate risk for analysts, bank employees, investment companies, and financial risk management specialists. Special attention will be paid to the application of a modern financial toolkit in the conditions of developing markets, primarily in Ukraine and Russia. The book has not been published yet, despite being 70% completed in 2001 – new managerial responsibilities did not allow me to finish this work. Fortunately, the book has not become outdated, and I hope it will be published in the second half of 2010.
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Microeconomics for Policy Analysis. Kyiv: Basics, 2005.
The first textbook in Ukraine on economic theory applied to the analysis of government policy, co-authored with A.I. Kilyevich (Alexander Ivanovich contributed to a significant portion of the book’s chapters and played a key role in the preparation and publication of this book). The basis of the book was our many years of work in the educational programs of the World Bank Training Center for government officials.
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Financial Markets. Donetsk: Donetsk National University.
The textbook for the course “Financial Markets” was prepared as part of the TEMPUS-TACIS project “Master’s Program in Applied Economics”. Many chapters are based on the book “Investments”.
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Главы из книг
Handbook of International Corporate Governance: A Country by Country Guide. London: Institute of Directors (IoD), 2004.
In the world’s first International Handbook on Corporate Governance, published by the Institute of Directors (IoD), a chapter dedicated to corporate governance in Ukraine was prepared by Alexander Okunev (Director of the Corporate Governance Center at MIB) and myself.
Enterprise Restructuring. Kyiv: Millennium.
The book was prepared by leading professors of the International Institute of Business and emerged as a result of the implementation of national projects “Competitiveness-2000” and “Director of the Third Millennium” (educational programs for the management of major Ukrainian enterprises). I authored the section on “Investment Decisions“.
Efficiency of Public Administration. Kyiv: Ukrainian Academy of Public Administration, 2002.
In the monograph prepared by a team of authors – professors of the Joint Educational Center of the World Bank and UAPA, I authored the 3rd section “Analysis of Benefits and Costs in Evaluating the Efficiency of Public Administration”.
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Economic Development and State Policy.” Kyiv: Ukrainian Academy of Public Administration, 2001.
Section 2-8 “Competitive Markets for Factors of Production”
Section 2-11 “Capital Markets in the Modern World”
Section 2-12 “Economic Decisions under Risk Conditions”
Section 5-8 “Principles of Benefit and Cost Analysis”
Section 5-9 “Financial Analysis of Investment Decisions”
Section 5-10 “Analysis of Projects in the Public Sector”.
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