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Outline of Financial Economics [Kietas viršelis]

  • Formatas: Hardback, 314 pages, aukštis x plotis x storis: 229x153x26 mm, weight: 590 g, Graphs and equations throughout
  • Serija: Anthem Finance
  • Išleidimo metai: 15-May-2013
  • Leidėjas: Anthem Press
  • ISBN-10: 0857285076
  • ISBN-13: 9780857285072
Kitos knygos pagal šią temą:
Outline of Financial EconomicsDidesnis paveikslėlis
  • Formatas: Hardback, 314 pages, aukštis x plotis x storis: 229x153x26 mm, weight: 590 g, Graphs and equations throughout
  • Serija: Anthem Finance
  • Išleidimo metai: 15-May-2013
  • Leidėjas: Anthem Press
  • ISBN-10: 0857285076
  • ISBN-13: 9780857285072
Kitos knygos pagal šią temą:
Pastovi nuoroda: https://www.kriso.lt/db/9780857285072.html

“An Outline of Financial Economics” presents a systematic treatment of the theory and methodology of finance and economics. The book follows an analytical and geometric methodology, explaining technical terms and mathematical operations in clear, non-technical language, and providing intuitive explanations of the mathematical results. The text begins with a discussion of financial instruments, which form the basis of finance theory, and goes on to analyze bonds – which are regarded as fixed income securities – in a simple framework, and to discuss the valuation of stocks and cash flows in detail. Highly relevant topics such as attitudes toward risk, uncertainty, the financial structure of a firm, stochastic dominance, portfolio management, option pricing and conditions for non-arbitrage are analyzed explicitly. Because of its wide coverage and analytical, articulate and authoritative presentation, “An Outline of Financial Economics” will be an indispensable book for finance researchers and undergraduate and graduate students in fields such as economics, finance, econometrics, statistics and mathematics.



“An Outline of Financial Economics” presents a systematic treatment of the theory and methodology of finance and economics. The book follows an analytical and geometric methodology, explaining technical terms and mathematical operations in clear, nontechnical language, and providing intuitive explanations of the mathematical results.





Daugiau informacijos

A systematic treatment of theory and methodology of finance and economics, complete with numerical and applied examples, quantitative problems and questions.
Preface xi
Part I Introduction and Basic Concepts
1 Basic Concepts
3(5)
1.1 Introduction
3(1)
1.2 Financial Institutions, Financial Markets and Financial Instruments
3(4)
1.3 Portfolio Management
7(1)
2 Intertemporal Decision-Making and Time Value of Money
8(8)
2.1 Introduction
8(1)
2.2 Consumer's Time Preferences
8(4)
2.3 Discounted Present Value and Fisher's Proposition
12(4)
3 Risk and Uncertainty
16(35)
3.1 Introduction
16(1)
3.2 Von Neumann--Morgenstern Utility Function
17(5)
3.3 Risk Aversion
22(6)
3.4 Certainty Equivalent
28(5)
3.5 Mean-Variance Analysis: A Special Case of the Expected Utility Approach
33(3)
3.6 Prospect Theory: A Brief Analysis
36(15)
Appendix
39(12)
Part II Firm Valuation and Capital Structure
4 Valuation of Stocks
51(11)
4.1 Introduction
51(1)
4.2 Stock Transactions
52(2)
4.3 Valuation of Stocks: A Simple Structure
54(2)
4.4 Valuation of Stocks: A General Framework
56(2)
4.5 Price-to-Earnings Ratio
58(4)
5 Valuation of Cash Flows and Capital Budget Allocation
62(13)
5.1 Introduction
62(2)
5.2 Net Present Value
64(1)
5.3 Internal Rate of Return
65(2)
5.4 Benefit--Cost Ratio and Profitability Index
67(1)
5.5 Some Additional Issues
68(7)
Appendix
72(3)
6 Financial Structure of a Firm
75(12)
6.1 Introduction
75(1)
6.2 The Modigliani--Miller Theorem
75(5)
6.3 Discussion
80(7)
Part III Fixed Income Securities and Options
7 Valuation of Bonds and Interest Rates
87(18)
7.1 Introduction
87(1)
7.2 Discounted Present Values and Constant Earnings Streams
87(1)
7.3 Special Case of a Bond
88(1)
7.4 Yield to Maturity of Bonds
89(5)
7.5 Duration of Bonds
94(3)
7.6 Duration and Convexity of a Bond
97(1)
7.7 Immunization of Interest Rate Risk
98(1)
7.8 Forward Interest Rate
99(2)
7.9 Forward Rate Agreement
101(4)
8 Markets for Options
105(29)
8.1 Introduction
105(1)
8.2 Types of Options
106(3)
8.3 Payoff Functions for Options
109(5)
8.4 Profit Functions for Options
114(3)
8.5 Boundaries for Option Values
117(9)
8.6 Forward and Futures Contracts
126(8)
9 Arbitrage and Binomial Model
134(20)
9.1 Introduction
134(1)
9.2 Conditions for Non-arbitrage: A Simple Model
135(3)
9.3 Conditions for Non-arbitrage: A More General Model
138(5)
9.4 The Binomial Model
143(11)
Appendix
150(4)
10 Brownian Motion and Ito's Lemma
154(10)
10.1 Introduction
154(1)
10.2 Random Walk
154(2)
10.3 Weiner Process (Brownian Motion)
156(2)
10.4 Ito's Lemma
158(1)
10.5 Applications
159(5)
Appendix
162(2)
11 The Black--Scholes--Merton Model
164(17)
11.1 Introduction
164(1)
11.2 The Black--Scholes--Merton Partial Differential Equation
164(6)
11.3 The Black--Scholes--Pricing Formulae
170(1)
11.4 Comparative Statics: The Greek Letters
171(4)
11.5 Implied Volatility
175(6)
Appendix
177(4)
12 Exotic Options
181(23)
12.1 Introduction
181(1)
12.2 Digital Options
182(2)
12.3 Asian Options
184(2)
12.4 Barrier Options
186(4)
12.5 Gap Options
190(2)
12.6 Discussion
192(12)
Appendix
194(10)
13 Risk-Neutral Valuation and Martingales
204(17)
13.1 Introduction
204(1)
13.2 Martingale: Background and Interpretation
205(5)
13.3 Equivalent Martingale Measure: Discrete-Time Models
210(2)
13.4 Equivalent Martingale Measure: Continuous-Time Models
212(1)
13.5 Equivalent Martingale Measure: Continuous-Time Path and Stochastic Interest Rate
213(8)
Part IV Portfolio Management Theory
14 Portfolio Management: The Mean-Variance Approach
221(32)
14.1 Introduction
221(1)
14.2 Preliminaries
222(2)
14.3 Construction of a Portfolio: The Two-Asset Case and a Diagrammatic Exposition
224(7)
14.4 Construction of a Portfolio: The Multi-Asset Case
231(4)
14.5 Two-Fund Separation Theorem
235(1)
14.6 Capital Asset Pricing Model
236(17)
Appendix
245(8)
15 Stochastic Dominance
253(19)
15.1 Introduction
253(1)
15.2 First Order Stochastic Dominance
254(2)
15.3 Second Order Stochastic Dominance
256(3)
15.4 Lorenz Ordering, Generalized Lorenz Ordering and Stochastic Dominance
259(4)
15.5 Ranking Portfolios
263(9)
Appendix
265(7)
16 Portfolio Management: The Mean-Gini Approach
272(10)
16.1 Introduction
272(1)
16.2 Gini Evaluation Function and Stochastic Dominance
273(3)
16.3 Efficient Set
276(2)
16.4 Portfolio Analysis
278(2)
16.5 Gini Capital Asset Pricing Model
280(2)
Appendix 282(5)
Bibliography 287(6)
Index 293
Satya R. Chakravarty is Professor of Economics at the Indian Statistical Institute in Kolkata, India.