Intermediate Financial Theory

ISBN-10: 0123693802
ISBN-13: 9780123693808
Edition: 2nd 2005 (Revised)
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Description: The second edition of this authoritative textbook continues the tradition of providing clear and concise descriptions of the new and classic concepts in financial theory. The authors keep the theory accessible by requiring very little mathematical  More...

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Book details

List price: $89.95
Edition: 2nd
Copyright year: 2005
Publisher: Elsevier Science & Technology Books
Publication date: 7/19/2005
Binding: Hardcover
Pages: 392
Size: 7.25" wide x 10.25" long x 1.00" tall
Weight: 1.166
Language: English

The second edition of this authoritative textbook continues the tradition of providing clear and concise descriptions of the new and classic concepts in financial theory. The authors keep the theory accessible by requiring very little mathematical background. First edition published by Prentice-Hall in 2001- ISBN 0130174467. The second edition includes new structure emphasizing the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing, as well as a new chapter on asset management for the long term investor. "This book does admirably what it sets out to do - provide a bridge between MBA-level finance texts and PhD-level texts.... many books claim to require little prior mathematical training, but this one actually does so. This book may be a good one for Ph.D students outside finance who need some basic training in financial theory or for those looking for a more user-friendly introduction to advanced theory. The exercises are very good." --Ian Gow, Student, Graduate School of Business, Stanford University *Completely updated edition of classic textbook that fills a gap between MBA level texts and PHD level texts *Focuses on clear explanations of key concepts and requires limited mathematical prerequisites *Online solutions manual available * Updates includes new structure emphasizing the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing, as well as a new chapter on asset management for the long term investor

Jean-Pierre Danthine is professor of economics and finance at the University of Lausanne Switzerland), director of the International Center for Financial Asset Management and Engineering Lausanne & Geneva) and CEPR Research Fellow. The holder of a Ph.D. in economics from Carnegie-Mellon University and a M.S. in Economics from the University of Louvain, Professor DanthineI previously taught at at Columbia University and held visiting appointments at CUNY Graduate Center, University of Southern California (Los Angeles), Universit� d'Aix-Marseille, Universit� Laval (Qu�bec), as well as Universities of Toulon and Dijon. He is an Associate Editor of Macroeconomic Dynamics and Finance Research Letters; Chairman of the Scientific Council of the TCIP (Training Center for Investment Professionals); member of the Council of the European Economic Association, of the Scientific Councils of CEPREMAP (Paris), CREST (Paris), CREI (U. Pompeu Fabra, Barcelona) as well as the Fonds national de la recherche scientifique (Economics Commission - Belgium). He was also a member of the Executive Committee of the ICMB (Geneva). He was formerly Vice-Rector of the University of Lausanne, chairman of its Departement d'Econom�trie et d'Economie Politique (DEEP) and director of its Institute for Banking and Financial Management, member of the Executive Committee of CEPR (Center for Economic Policy research - London), of the CEPS Macroeconomic Policy Group (Brussels), of the Scientific Council of the European Science Foundation Network in Financial Markets. He was also an Associate Editor of the European Economic Review, of the Journal of Empirical Finance and of the Revue Finance. His publications have appeared in Econometrica, the Journal of Political Economy, the Review of Economic Studies, the Journal of Finance, the Journal of Economic Theory, the Journal of Public Economics, the European Economic Review, and many other journals.

Preface
Introduction
On the Role of Financial Markets and Institutions
The Challenges of Asset Pricing: A Road Map
The Demand for Financial Assets
Making Choices in Risky Situations
Measuring Risk and Risk Aversion
Risk Aversion and Investment Decisions, Part I
Risk Aversion and Investment Decisions, Part II: Modern Portfolio Theory
Equilibrium Pricing
The Capital Asset Pricing Model (CAPM)
Arrow-Debreu Pricing, Part I
The Consumption Capital Asset Pricing Model (CCAPM)
Arbitrage Pricing
Arrow-Debreu Pricing, Part II
The Martingale Measure: Part I
The Martingale Measure: Part II
Extensions
The Arbitrage Pricing Theory
Portfolio Management in the Long Run
Financial Structure and Firm Valuation in Incomplete Markets
Financial Equilibrium with Differential Information
Exercises

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