Finance Capital Markets, Financial Management, and Investment Management

ISBN-10: 0470407352

ISBN-13: 9780470407356

Edition: 2009

List price: $100.00 Buy it from $64.00
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Book details

List price: $100.00
Copyright year: 2009
Publisher: John Wiley & Sons, Limited
Publication date: 6/16/2009
Binding: Hardcover
Pages: 832
Size: 6.25" wide x 9.25" long x 1.75" tall
Weight: 2.442
Language: English

Douglas J. Lucas is Executive Director and Head of CDO Research at UBS. He is also Chairman of The Bond Market Association's CDO Research Committee and ranked top three in CDO research in the Institutional Investor's fixed income analyst survey. Lucas has been involved in the CDO market for nearly two decades, having developed Moody's rating methodology for CDOs in 1989.LAURIE S. GOODMAN, PhD, is Managing Director and co-Head of Global Fixed Income Research at UBS. She manages U.S. Securitized Products and Treasury/Agency/Derivatives Research. Goodman has worked on Wall Street for over twenty years and is well regarded by the investor community, having won more #1 slots on the Institutional Investor All-American Fixed Income Team than any other analyst.FRANK J. FABOZZI, PhD, CFA, CPA, is an Adjunct Professor of Finance and Becton Fellow at Yale University's School of Management and a Fellow of the International Center for Finance. Fabozzi is the Editor of the Journal of Portfolio Management.

Preface
About the Authors
Background
What is Finance?
Capital Markets and Capital Market Theory
Financial Management
Investment Management
Summary
Mathematics of Finance
The Importance of the Time Value of Money
Determining the Future Value
Determining the Present Value
Determining the Unknown Interest Rate
Determining the Number of Compounding Periods
The Time Value of a Series of Cash Flows
Valuing Cash Flows with Different Time Patterns
Loan Amortization
The Calculation of Interest Rates and Yields
Principles of Valuation
Summary
Basics of Financial Analysis
Financial Ration Analysis
Cash Flow Analysis
Usefulness of Cash Flows in Financial Analysis
Summary
Capital Markets and Capital Market Theory
The Financial System
Financial Assets/Financial Instruments
Financial Markets
Financial Intermediaries
Regulators of Financial Actitivies
Classification of Financial Markets
Market Participants
Summary
References
Interest Rate Determination and the Structure of Interest Rates
Theories About Interest Rate Determination
The Federal Reserve System and the Determination of Interest Rates
The Structure of Interest Rates
Term Structure of Interest Rates
Summary
References
Basics of Derivatives
Futures and Forward Contracts
Options
Swaps
Cap and Floor Agreements
Summary
Appendix: Black-Scholes Option Pricing Model
References
Asset Valuation: Basic Bond and Stock Valuation Models
Valuing Bonds
Valuation of Common Stock Using Dividend Discount Models
Summary
Appendix: Valuing Convertible Bonds
References
Asset Valuation: The Theory of Asset Pricing
Characteristics of an Asset Pricing Model
Capital Asset Pricing Model
Arbitrage Pricing Theory Model
Summary
References
Financial Management
Financial Management
Forms of Business Enterprise
The Objective of Financial Management
The Agency Relationship
Dividend and Dividend Policies
Special Considerations in International Financial Management
Summary
References
Financial Strategy and Financial Planning
Strategy and Value
Financial Planning and Budgeting
Importance of Financial Planning
Budgeting Process
Sales Forecasting
Seasonal Considerations
Budgeting
Pro Forma Financial Statements
Long-Term Financial Planning
Financial Modeling
Performance Evaluation
Strategy and Value Creation
Summary
References
The Corporate Financing Decision
Debt vs. Equity
The concept of leverage
Capital Structure and Financial Leverage
Financial Leverage and Risk
Capital Structure and Taxes
Capital Structure and Financial Distress
The Cost of Capital
The Agency Relationship and Capital Structure
Optimal Capital Structure: Theory and Practice
A Capital Structure Prescription
Summary
Appendix: Capital structure: Lessons from Modigliani and Miller
References
Financial Engineering, Asset Securitization, and Project Financing
Creation of Structured Notes
Asset Securitization
Project Financing
Summary
References
Capital Budgeting: Process and Cash Flow Estimation
Investment Decisions and Owners' Wealth Maximization
Capital Budgeting Process
Classifying Investment Projects
Estimating Cash Flows of Capital Budgeting Projects
Summary
References
Capital Budgeting Techniques
Evaluation Techniques
Net Present Value
Profitability Index
Internal Rate of Return
Modified Internal Rate of Return
Payback Period
Discounted Payback Period
Issues in Capital Budgeting
Comparing Techniques
Capital Budgeting Techniques in Practice
Capital Budgeting and the Justification of New Technology
Incorporating Risk into Capital Budgeting Analysis
Summary
References
Managing Current Assets
Management of Cash and Marketable Securities
Cash Management
Marketable Securities
Management of Accounts Receivable
Inventory Management
Summary
References
Financial Risk Management
Risk Defined
Enterprise Risk Management
Managing Risks
Risk Transfer
Summary
References
Investment Management
The Basic Principles of Investment Management
The Investment Management Process
The Theory of Portfolio Selection
Tracking Error
Measuring and Evaluating Performance
Summary
References
Equity Portfolio Management
Stock Market Indicators
Top-Down vs. Bottom-up Approaches
Fundamental vs. Technical Analysis
Popular Stock Market Strategies
Passive Strategies
Equity-Style Management
Types of Stock Market Structures
The U.S. Stock Markets: Exchanges and OTC Markets
Trading Mechanics
Summary
References
Bond Portfolio Management
Sectors of the Bond Market
Features of Bonds
Yield Measures
Risks Associated with Investing in Bonds
Measuring Interest Rate Risk
Bond Indexes
Active Bond Portfolio Strategies
Passive Bond Portfolio Strategies
Summary
References
Use of Stock Index Futures and Treasury Futures Contracts in Portfolio Management
Using Stock Index Futures in Equity Portfolio Management
Using Treasury Bond and Note Futures Contracts in Bond Portfolio Management
Using Stock Index Futures and Treasury Bond Futures to Implement an Asset Allocation Decision
Summary
References
Use of Options in Portfolio Management
Using Stock Options and Index Options in Equity Portfolio Management
Using Interest Rate Options in Bond Portfolio Management
Summary
Appendix: Pricing Models on Options on Physicals and Futures Options
References
Index
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