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A carregar... The Economics of Financial Markets (edição 2005)por Roy E. Bailey (Autor)
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The Economics of Financial Markets presents a concise overview of capital markets, suitable for advanced undergraduates and for beginning graduate students in financial economics. Following a brief overview of financial markets - their microstructure and the randomness of stock market prices - this textbook explores how the economics of uncertainty can be applied to financial decision-making. The mean-variance model of portfolio selection is discussed, with analysis extended to the capital asset pricing model (CAPM). Arbitrage plays a pivotal role in finance and is studied in a variety of contexts, including the APT model of asset prices. Methods for the empirical evaluation of CAPM and APT are also discussed, together with the volatility of asset prices, the intertemporal CAPM and the equity premium puzzle. An analysis of bond contracts leads into an assessment of theories of the term structure of interest rates. Finally, financial derivatives are explored, focusing on futures and options contracts. Não foram encontradas descrições de bibliotecas. |
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Google Books — A carregar... GénerosSistema Decimal de Melvil (DDC)332.0415Social sciences Economics Finance Special Topics Capital Acquiring CapitalClassificação da Biblioteca do Congresso dos EUA (LCC)AvaliaçãoMédia:
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Bailey’s The Economics of Financial Markets is an introductory textbook on financial markets theory. Quoting liberally from Keynes’s General Theory, the author introduces the major themes in financial economics, provides some of the concepts and building blocks necessary to study the behavior of asset prices, and familiarizes readers with the empirical debates involving asset pricing models.
Highly mathematical but interspersed with tales of various financial debacles, the book will be of primary interest to undergraduate students in finance and economics. Graduate students who seek to obtain an elementary but theoretically-underpinned understanding of how financial markets generate wealth may be disappointed, however, by the book’s lack of systematic exploration of other prominent financial markets topics such as information asymmetry between firm managers and market investors, hedge fund performance, and financial markets regulation. Additionally, about one-third of the book deals with derivatives. Given the plethora of derivatives-focused texts, advanced readers may find the author’s decision to cover futures, options, and swaps in detail – in a book that purports to present a concise overview of capital markets economics – perplexing.