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Book Recommendations by Yevhen Pentsak, Core Professor at kmbs
16.08.2025
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5min
Book Recommendations by Yevhen Pentsak, Core Professor at kmbs
Processes. Finances. Operational perfection
The primary task of a manager is to make decisions that influence the future of the business, the country, and the world. High-quality books can help deepen one’s understanding of oneself and the surrounding environment. In this article, Yevhen Pentsak — core professor and head of the MBAF program at kmbs — shares a selection of recommended books for CFOs, business analysts, investment advisors, as well as managers and executives. These books help readers see broader interconnections between finance, microeconomics, behavioral strategy, and personal decision-making in today’s complex economic and digital reality. They are especially valuable for those seeking to develop critical thinking and view business not just through the lens of numbers and conventional approaches.

1. “The Ascent of Money: A Financial History of the World” — Niall Ferguson
Niall Ferguson is one of the most prominent experts on the history of financial markets and is included in Time magazine’s list of the 100 most influential people in the world. His book is a profound study of how finance has shaped our world throughout millennia—from the emergence of banking, the invention of credit, and the rise of stock markets and public debt to digital currencies and globalized economies. Ferguson makes a strong case that one cannot understand the contemporary world without understanding the evolution of finance. 

“I recommend this book to a wide audience of readers interested in understanding the evolution of economic and financial markets, the origins of money and financial instruments, and how human development is tightly linked to economic progress and financial institutions,” — Yevhen Pentsak.

2. “The Art of Strategy: A Game Theorist’s Guide to Success in Business and Life” — Avinash Dixit, Barry Nalebuff
Every strategic decision in business involves a trade-off between our capabilities and competitors’ actions. How do you analyze the structure of market competition, predict your rivals' moves, find a Nash equilibrium, or shift the information landscape in your favor? This work by Dixit and Nalebuff is a comprehensive guide to solving those types of problems. 

“This book teaches how to think strategically—while taking into account the interests and capacities of all stakeholders—to ultimately achieve the best strategic outcomes,” — Yevhen Pentsak.

3. “Strategy: A History” — Lawrence Freedman
This is an essential book for understanding the concept of strategy in business and for translating ideas into measurable performance indicators. British academic Lawrence Freedman presents a panoramic survey of the evolution of strategic thinking as shaped by historical events, economic revolutions, and technological progress. The book reveals strategy as the foundation of leadership, innovation, and long-term success.

“I recommend this book to company founders thinking about global business expansion, especially in light of changes in competitive landscapes, geopolitical shifts, and technological innovation,” — Yevhen Pentsak.

4. “Intermediate Microeconomics: A Modern Approach” — Hal R. Varian
Hal Varian has served as Google’s Chief Economist for over 20 years. He has developed several economic models widely used in real business applications. His book combines rigorous theoretical foundations with practical examples and visualizations that help bridge abstract economic models with real-world scenarios.  
The book covers key microeconomic topics including consumer behavior, general equilibrium, welfare economics, game theory, information economics, imperfect competition, cost analysis, and production theory. 

“This book is written at a high academic level and can serve as a comprehensive reference for constructing analytical economic models, particularly for corporate analysts,” — Yevhen Pentsak.

5. “Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets” — Nassim Nicholas Taleb
Nassim Taleb challenges the illusion of rationality in decision-making under uncertainty. Are we mistaken when we search for patterns in randomness? Are we overconfident in our ability to predict the future while underestimating the role of luck?  
This book takes readers deep into the mindset of a leader who strives to shape reality while embracing the unpredictable nature of the world.

“I recommend this book to a broad audience of readers seeking to understand the methodology of financial and investment decision-making through a probabilistic lens,” — Yevhen Pentsak.

6. “Data Science for Business: What You Need to Know About Data Mining and Data-Analytic Thinking” — Foster Provost, Tom Fawcett
The authors provide a clear explanation of the core principles of data analytics that can be applied in any company to improve processes and increase profitability. The book is especially useful for managers who want to make data-driven decisions rather than rely on intuition. 

“This work by Provost and Fawcett offers an excellent introduction to business analytics. It shows how business decisions are formed based on data and models,” — Yevhen Pentsak.

 7. “The Art of the Good Life: 52 Surprising Shortcuts to Happiness” — Rolf Dobelli
Rolf Dobelli offers an alternative to loud motivational slogans by advocating for inner balance through rational thinking, addressing cognitive biases, and building psychological resilience. 

“This book is a great introduction to the issues of modern economics, which draw on the advances of neurophysiology and utilitarian economics. The author skillfully blends academic insights with practical approaches for personal decision-making, using updated findings from neuromanagement and analytics,” — Yevhen Pentsak.

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