KEY BENEFIT: This significant new guide to finance has a broader scope and greater emphasis on general principles than most other books of its kind, which typically focus exclusively on corporate finance. Acclaimed authors Bodie and Merton offer an approach balanced among the three "pillars" of finance–optimization over time, asset valuation, and risk management. KEY TOPICS: Encompasses all subfields of finance within a single unifying conceptual framework. Offers the "big picture" of resource allocation over time under conditions of uncertainty. Focuses on personal finance topics, such as saving and investing, as well as asset valuation. Provides spreadsheet modeling exercises in the accompanying Prentice Hall Finance Center CD. MARKET: Ideal for executives or for anyone seeking a solid understanding and overview of the field of finance.
The LeRoy and Porter (1981) variance bounds test is based on the mathematical property that the conditional expectation of any random variable is less volatile than the variable itself. Their analysis begins with a forecast of future ...
The book is tailor made for master and PhD students and includes tests and exercises that enable the students to keep track of their progress. Parts of the book can also be used on a bachelor level.
Numerous examples and diagrams illustrate the key arguments, and the main chapters are followed by guides to the relevant literature and exercises for students.
KEY BENEFIT: This significant new guide to finance has a broader scope and greater emphasis on general principles than most other books of its kind, which typically focus exclusively on corporate finance.
This second edition includes new chapters on infinite-time security markets and more focus on portfolio choice and risk allocations.
"Comprehensive overview of the current state of knowledge in financial economics, appropriate for graduate-level research"--
The book provides a novel, unified treatment of the subject by deriving each topic from common fundamental principles and showing the interrelations between the key themes.
Despite being an integral part of modern economic science, the subject of financial economics has deep historical roots. Geoffrey Poitras provides an exhaustive account of the early development of the...
Structured in five parts, the book covers financial data and univariate models; asset returns; interest rates, yields and spreads; volatility and correlation; and corporate finance and policy.
This book bridges the gap between these two extremes, offering a textbook that studies economic activity in financial markets, focusing on how consumers determine future consumpt