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9780470486153

Finance : Capital Markets, Financial Management, and Investment Management

by ;
  • ISBN13:

    9780470486153

  • ISBN10:

    0470486155

  • Format: eBook
  • Copyright: 2009-05-01
  • Publisher: Wiley
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Summary

Created by the experienced author team of Frank Fabozzi and Pamela Peterson Drake, Finance examines the essential elements of this discipline and makes them accessible to a wide array of readers-from seasoned veterans looking for a review to newcomers needing to get their footing in finance.Divided into four comprehensive parts, this reliable resource opens with a detailed discussion of the basic tools of investing and financing decision-making-financial mathematics and financial analysis. After this informative introduction, you'll quickly become familiar with the three primary areas of finance-capital markets (Part II), financial management (Part III), and investment/asset management (Part IV)?-and discover how these different areas are interconnected.Finance is a well-rounded guide to this dynamic field. The straightforward insights found here will put you in a better position to understand what the principles of modern finance are and how they can be used to make the right decisions when managing risk and return in today's complex financial environment.

Table of Contents

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 Ratio 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 Activities
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 33
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.
Chapter 17
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
Table of Contents provided by Publisher. All Rights Reserved.

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