Download or read book Essays on Contingent Claims written by Gonzalo Cortazar and published by . This book was released on 1992 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Three Essays on Contingent Claims Pricing written by David Lando and published by . This book was released on 1994 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Essays on the Valuation Problems of Contingent Claims written by Akihiko Takahashi and published by . This book was released on 1995 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book World Scientific Reference On Contingent Claims Analysis In Corporate Finance In 4 Volumes written by Michel Crouhy and published by World Scientific. This book was released on 2019-01-21 with total page 2039 pages. Available in PDF, EPUB and Kindle. Book excerpt: Black and Scholes (1973) and Merton (1973, 1974) (hereafter referred to as BSM) introduced the contingent claim approach (CCA) to the valuation of corporate debt and equity. The BSM modeling framework is also named the 'structural' approach to risky debt valuation. The CCA considers all stakeholders of the corporation as holding contingent claims on the assets of the corporation. Each claim holder has different priorities, maturities and conditions for payouts. It is based on the principle that all the assets belong to all the liability holders.The BSM modeling framework gives the basic fundamental version of the structural model where default is assumed to occur when the net asset value of the firm at the maturity of the pure-discount debt becomes negative, i.e., market value of the assets of the firm falls below the face value of the firm's liabilities. In a regime of limited liability, the shareholders of the firm have the option to default on the firm's debt. Equity can be viewed as a European call option on the firm's assets with a strike price equal to the face value of the firm's debt. Actually, CCA can be used to value all the components of the firm's liabilities, equity, warrants, debt, contingent convertible debt, guarantees, etc.In the four volumes we present the major academic research on CCA in corporate finance starting from 1973, with seminal papers of Black and Scholes (1973) and Merton (1973, 1974). Volume I covers the foundation of CCA and contributions on equity valuation. Volume II focuses on corporate debt valuation and the capital structure of the firm. Volume III presents empirical evidence on the valuation of debt instruments as well as applications of the CCA to various financial arrangements. The papers in Volume IV show how to apply the CCA to analyze sovereign credit risk, contingent convertible bonds (CoCos), deposit insurance and loan guarantees. Volume 1: Foundations of CCA and Equity ValuationVolume 1 presents the seminal papers of Black and Scholes (1973) and Merton (1973, 1974). This volume also includes papers that specifically price equity as a call option on the corporation. It introduces warrants, convertible bonds and taxation as contingent claims on the corporation. It highlights the strong relationship between the CCA and the Modigliani-Miller (M&M) Theorems, and the relation to the Capital Assets Pricing Model (CAPM). Volume 2: Corporate Debt Valuation with CCAVolume 2 concentrates on corporate bond valuation by introducing various types of bonds with different covenants as well as introducing various conditions that trigger default. While empirical evidence indicates that the simple Merton's model underestimates the credit spreads, additional risk factors like jumps can be used to resolve it. Volume 3: Empirical Testing and Applications of CCAVolume 3 includes papers that look at issues in corporate finance that can be explained with the CCA approach. These issues include the effect of dividend policy on the valuation of debt and equity, the pricing of employee stock options and many other issues of corporate governance. Volume 4: Contingent Claims Approach for Banks and Sovereign DebtVolume 4 focuses on the application of the contingent claim approach to banks and other financial intermediaries. Regulation of the banking industry led to the creation of new financial securities (e.g., CoCos) and new types of stakeholders (e.g., deposit insurers).
Download or read book Essays on Economic Decisions Under Uncertainty written by Jacques Drèze and published by CUP Archive. This book was released on 1990-05-25 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor Dreze is a highly respected mathematical economist and econometrician. This book brings together some of his major contributions to the economic theory of decision making under uncertainty, and also several essays. These include an important essay on 'Decision theory under moral hazard and state dependent preferences' that significantly extends modern theory, and which provides rigorous foundations for subsequent chapters. Topics covered within the theory include decision theory, market allocation and prices, consumer decisions, theory of the firm, labour contracts, and public decisions.
Download or read book After Finitude written by Quentin Meillassoux and published by A&C Black. This book was released on 2008-06-07 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: After Finitude provides readings of the history of philosophy and sets out a critique of the unavowed fideism at the heart of post-Kantian philosophy. Author Quentin Meillassoux introduces a philosophical alternative to the forced choice between dogmatism and critique. After Finitude proposes a new alliance between philosophy and science and calls for an unequivocal halt to the creeping return of religiosity in contemporary philosophical discourse.
Download or read book Reason Morality and Beauty written by Bindu Puri and published by Oxford University Press, USA. This book was released on 2007 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher description
Download or read book Essays in Derivatives written by Don M. Chance and published by John Wiley & Sons. This book was released on 2011-07-05 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the updated second edition of Don Chance’s well-received Essays in Derivatives, the author once again keeps derivatives simple enough for the beginner, but offers enough in-depth information to satisfy even the most experienced investor. This book provides up-to-date and detailed coverage of various financial products related to derivatives and contains completely new chapters covering subjects that include why derivatives are used, forward and futures pricing, operational risk, and best practices.
Download or read book American Protest Essay and National Belonging The written by and published by SUNY Press. This book was released on with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Paul Wilmott Introduces Quantitative Finance written by Paul Wilmott and published by John Wiley & Sons. This book was released on 2013-10-18 with total page 743 pages. Available in PDF, EPUB and Kindle. Book excerpt: Paul Wilmott Introduces Quantitative Finance, Second Edition is an accessible introduction to the classical side of quantitative finance specifically for university students. Adapted from the comprehensive, even epic, works Derivatives and Paul Wilmott on Quantitative Finance, Second Edition, it includes carefully selected chapters to give the student a thorough understanding of futures, options and numerical methods. Software is included to help visualize the most important ideas and to show how techniques are implemented in practice. There are comprehensive end-of-chapter exercises to test students on their understanding.
Download or read book Philosophical Essays Volume 1 written by Scott Soames and published by Princeton University Press. This book was released on 2009 with total page 444 pages. Available in PDF, EPUB and Kindle. Book excerpt: The two volumes of Philosophical Essays bring together the most important essays written by one of the world's foremost philosophers of language. Scott Soames has selected thirty-one essays spanning nearly three decades of thinking about linguistic meaning and the philosophical significance of language. A judicious collection of old and new, these volumes include sixteen essays published in the 1980s and 1990s, nine published since 2000, and six new essays. The essays in Volume 1 investigate what linguistic meaning is; how the meaning of a sentence is related to the use we make of it; what we should expect from empirical theories of the meaning of the languages we speak; and how a sound theoretical grasp of the intricate relationship between meaning and use can improve the interpretation of legal texts. The essays in Volume 2 illustrate the significance of linguistic concerns for a broad range of philosophical topics--including the relationship between language and thought; the objects of belief, assertion, and other propositional attitudes; the distinction between metaphysical and epistemic possibility; the nature of necessity, actuality, and possible worlds; the necessary a posteriori and the contingent a priori; truth, vagueness, and partial definition; and skepticism about meaning and mind. The two volumes of Philosophical Essays are essential for anyone working on the philosophy of language.
Download or read book Philosophical Essays Volume 2 written by Scott Soames and published by Princeton University Press. This book was released on 2009-03-09 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt: The two volumes of Philosophical Essays bring together the most important essays written by one of the world's foremost philosophers of language. Scott Soames has selected thirty-one essays spanning nearly three decades of thinking about linguistic meaning and the philosophical significance of language. A judicious collection of old and new, these volumes include sixteen essays published in the 1980s and 1990s, nine published since 2000, and six new essays. The essays in Volume 1 investigate what linguistic meaning is; how the meaning of a sentence is related to the use we make of it; what we should expect from empirical theories of the meaning of the languages we speak; and how a sound theoretical grasp of the intricate relationship between meaning and use can improve the interpretation of legal texts. The essays in Volume 2 illustrate the significance of linguistic concerns for a broad range of philosophical topics--including the relationship between language and thought; the objects of belief, assertion, and other propositional attitudes; the distinction between metaphysical and epistemic possibility; the nature of necessity, actuality, and possible worlds; the necessary a posteriori and the contingent a priori; truth, vagueness, and partial definition; and skepticism about meaning and mind. The two volumes of Philosophical Essays are essential for anyone working on the philosophy of language.
Download or read book Credit Risk Modeling written by David Lando and published by Princeton University Press. This book was released on 2009-12-13 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit risk is today one of the most intensely studied topics in quantitative finance. This book provides an introduction and overview for readers who seek an up-to-date reference to the central problems of the field and to the tools currently used to analyze them. The book is aimed at researchers and students in finance, at quantitative analysts in banks and other financial institutions, and at regulators interested in the modeling aspects of credit risk. David Lando considers the two broad approaches to credit risk analysis: that based on classical option pricing models on the one hand, and on a direct modeling of the default probability of issuers on the other. He offers insights that can be drawn from each approach and demonstrates that the distinction between the two approaches is not at all clear-cut. The book strikes a fruitful balance between quickly presenting the basic ideas of the models and offering enough detail so readers can derive and implement the models themselves. The discussion of the models and their limitations and five technical appendixes help readers expand and generalize the models themselves or to understand existing generalizations. The book emphasizes models for pricing as well as statistical techniques for estimating their parameters. Applications include rating-based modeling, modeling of dependent defaults, swap- and corporate-yield curve dynamics, credit default swaps, and collateralized debt obligations.
Download or read book Essays on Exchange Interest Money and Other Subjects written by John Ramsay McCulloch and published by . This book was released on 1850 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Computational and Numerical Methods in Finance written by Svetlozar T. Rachev and published by Springer Science & Business Media. This book was released on 2011-06-28 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: The subject of numerical methods in finance has recently emerged as a new discipline at the intersection of probability theory, finance, and numerical analysis. The methods employed bridge the gap between financial theory and computational practice, and provide solutions for complex problems that are difficult to solve by traditional analytical methods. Although numerical methods in finance have been studied intensively in recent years, many theoretical and practical financial aspects have yet to be explored. This volume presents current research and survey articles focusing on various numerical methods in finance. The book is designed for the academic community and will also serve professional investors.
Download or read book An Essay on Philosophical Method written by R. G. Collingwood and published by Clarendon Press. This book was released on 2005-05-12 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: James Connelly and Giuseppina D'Oro present a new edition of R. G. Collingwood's classic work of 1933, supplementing the original text with important related writings from Collingwood's manuscripts which appear here for the first time. The editors also contribute a substantial new introduction. The volume will be welcomed by all historians of twentieth-century philosophy.
Download or read book Arbitrage Free Pricing of Interest Rate Contingent Claims written by Bjorn Flesaker and published by . This book was released on 1990 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
