الصفحة 2
الصفحة 2
Essays on Accounting Theory in Honour of Joel S. Demski
This rigorous scholarly work focuses on the analysis of corporate accounting reports as a source of information used in corporate decision-making and in pricing securities by the capital market.
Eric Sink on the Business of Software
Eric Sink on the Business of Software is a selection of the best and most popular essays from the author's website. This insightful collection of essays explore the business concerns that programmers face during the course of their careers—particularly those programmers who are small independent software vendors. Sink also covers issues like starting your own business, and then performing the hiring, marketing, and finances in a style that programmers understand, sprinkled with a touch of humor.
Dynamic pricing and automated resource allocation for complex information services : Reinforcement learning and combinatorial auctions
This book develops allocation mechanisms that aim to ensure an efficient resource allocation in modern IT-services. The author presents two methods, both of which using the users’ willingness-to-pay to control the allocation process. The author generates a method to calculate dynamic resource prices.
Dynamic Asset Allocation with Forwards and Futures
DYNAMIC ASSET ALLOCATION WITH FORWARD AND FUTURES is an advanced text on the theory of forward and futures markets which aims at providing readers with a comprehensive knowledge of how prices are established and evolve over time, what optimal strategies one can expect from the participants, what characterizes such markets, and what major theoretical and practical differences distinguish futures from forward contracts. The book proposes an approach of these markets from the perspective of dynamic asset allocation and asset pricing theory within an inter-temporal framework. The main ingredients that are used are the assumed absence of frictions and arbitrage opportunities in financial and real markets, the uniqueness of the economic general equilibrium, when such an equilibrium is required and the tools of continuous time finance, namely martingale theory and stochastic dynamic programming. The scope of DYNAMIC ASSET ALLOCATION WITH FORWARD AND FUTURES is essentially theoretical, with emphasis on economic meaning and financial interpretation. Regarding investment and/or hedging, focus is on optimal strategies rather than on actual practice. Simulations, however, are performed when important insights can be delivered as to the practical relevance of some theoretical results. Also, optimal strategies using futures are shown to differ markedly from those using forwards. The following issues are examined: pure hedging, investment and hedging in complete or incomplete markets, currency risk, optimal spreading, presence of stochastic dividend or convenience yields, pricing of non-redundant futures or forwards by means of general equilibrium analysis, and revisiting of existing Capital Asset Pricing Models.
Corporate and Investment Banking : Preparing for a Career in Sales, Trading, and Research in Global Markets
Provides unique information to prepare graduates and newly hired corporate and investment banking professionals for a career in the global markets environment of large universal and international investment banks. It shows the interrelationship between the three specific business functions of sales, trading, and research, as well as the interaction with corporate and institutional clients. The book fills a gap in the available literature by linking financial market theory to the practical aspects of day-to-day operations on a trading floor and offers a taxonomy of the current banking business, providing an in-depth analysis of the main market participants in the global markets ecosystem. Engaging the reader with case studies, anecdotes, and industry color, the book addresses the risks and opportunities of the global markets business in today’s global financial markets both from a theoretical and from a practitioner’s perspective and focuses on the most important fixed-income financial instruments from a pricing, risk-management, and client-marketing perspective.
Consumer behavior, organizational strategy and financial economics ; Proceedings of the 21st eurasia business and economics society conference
Shows selected articles from the 21st Eurasia business and economics society (EBES) conference, Which was held in Budapest (Hungary) in 2017. The theoretical and empirical papers in this volume cover various areas of business, economics, and finance from a diverse range of regions. In particular, this volume focuses on the latest trends in consumer behavior, New questions in the development of organizational strategy, And the interaction of financial economics with industrial economics and policy.
Computational Methods in Financial Engineering : Essays in Honour of Manfred Gilli
The focus of this book is the development of computational methods and analytical models in financial engineering that rely on computation. The book contains eighteen chapters written by leading researchers in the area on portfolio optimization and option pricing; estimation and classification; banking; risk and macroeconomic modelling. It explores and brings together current research tools and will be of interest to researchers, analysts and practitioners in policy and investment decisions in economics and finance. "This book collects frontier work by researchers in computational economics in a tribute to Manfred Gilli, a leading member of this community. Contributions cover many of the topics researched by Gilli during his career: portfolio optimization and option pricing, estimation and classification, as well as banking, risk and macroeconomic modeling. The editors have put together a remarkable panorama of the rapidly growing and diversifying field of computational economics and finance
Mathematical and Computational Models for Congestion Charging
This book presents rigorous treatments of issues related to congestion pricing. The chapters describe recent advances in areas such as mathematical and computational models for predicting traffic congestion, determining when, where, and how much to levy tolls, and analyzing the impact of tolls on transporation systems. The analyses and methodologies developed in this book provide Mechanisms that aid in determining and comparing congestion pricing schemes; Methodologies for evaluating the efficiency of existing and proposed congestion pricing schemes; A means to predict the impact of pricing on urban transporation systems; and Information essential to the financial and political success of congestion pricing programs.
Martingale Methods in Financial Modelling
This book provides a comprehensive, self-contained and up-to-date treatment of the main topics in the theory of option pricing. The first part of the text starts with discrete-time models of financial markets, including the Cox-Ross-Rubinstein binomial model. The passage from discrete- to continuous-time models, done in the Black-Scholes model setting, assumes familiarity with basic ideas and results from stochastic calculus. However, an Appendix containing all the necessary results is included. This model setting is later generalized to cover standard and exotic options involving several assets and/or currencies. An outline of the general theory of arbitrage pricing is presented. The second part of the text is devoted to the term structure modelling and the pricing of interest-rate derivatives. The main emphasis is on models that can be made consistent with market pricing practice.
Marketing effectiveness : Applying marketing science for brand growth
Contrary to popular belief marketing effectiveness is not just about the measuring of ROI. The lens of effectiveness must be applied to all marketing mix elements, from strategy to pricing and product, to media and advertising. It's a strategic shift that demands robust evidence-based decisions and consistent application in order to grow. Written by leading marketing practitioner, Sorin Patilinet, this book enables mid-senior level marketers to integrate the scientific methods and advanced measurements required for true marketing effectiveness into their marketing strategies, in order to reap the benefits of strong customer understanding and developing decision-making processes for growth. Covering everything from neuroscience and its application to marketing to advanced analytics and machine learning models, this book provides a comprehensive practical guide for marketers.
Market-Conform Valuation of Options
we will investigate the 'market-conform' pricing of newly issued contingent claims. A contingent claim is a derivative whose value at any settlement date is determined by the value of one or more other underlying assets, e. g. , forwards, futures, plain-vanilla or exotic options with European or American-style exercise features. Market-conform pricing means that prices of existing actively traded securities are taken as given, and then the set of equivalent martingale measures that are consistent with the initial prices of the traded securities is derived using no-arbitrage arguments.
Malliavin Calculus for Lévy Processes with Applications to Finance
While the original works on Malliavin calculus aimed to study the smoothness of densities of solutions to stochastic differential equations, this book has another goal. It portrays the most important and innovative applications in stochastic control and finance, such as hedging in complete and incomplete markets, optimisation in the presence of asymmetric information and also pricing and sensitivity analysis. In a self-contained fashion, both the Malliavin calculus with respect to Brownian motion and general Lévy type of noise are treated. Besides, forward integration is included and indeed extended to general Lévy processes. The forward integration is a recent development within anticipative stochastic calculus that, together with the Malliavin calculus, provides new methods for the study of insider trading problems.
Carbon Pricing in Japan
This book evaluates, from an economic perspective, various measures introduced in Japan to prevent climate change. Although various countries have implemented such policies in response to the pressing issue of climate change, the effectiveness of those programs has not been sufficiently compared.
Bond Portfolio Optimization
1 The tools of modern portfolio theory are in general use in the equity markets, either in the form of portfolio optimization software or as an accepted frame- 2 work in which the asset managers think about stock selection. In the ?xed income market on the other hand, these tools seem irrelevant or inapplicable. Bond portfolios are nowadays mainly managed by a comparison of portfolio 3 4 risk measures vis ¶a vis a benchmark. The portfolio manager’s views about the future evolution of the term structure of interest rates translate th- selves directly into a positioning relative to his benchmark, taking the risks of these deviations from the benchmark into account only in a very crude 5 fashion, i.e. without really quantifying them probabilistically. This is quite surprising since sophisticated models for the evolution of interest rates are commonly used for interest rate derivatives pricing and the derivation of ?xed 6 income risk measures.
Binomial models in finance
This book deals with many topics in modern financial mathematics in a way that does not use advanced mathematical tools and shows how these models can be numerically implemented in a practical way. The book is aimed at undergraduate students, MBA students, and executives who wish to understand and apply financial models in the spreadsheet computing environment.The basic building block is the one-step binomial model where a known price today can take one of two possible values at the next time. In this simple situation, risk neutral pricing can be defined and the model can be applied to price forward contracts, exchange rate contracts, and interest rate derivatives.
Big Data in Energy Economics
Combines energy economics and big data modeling analysis in energy conversion and management and comprehensively introduces the relevant theories, key technologies, and application examples of the smart energy economy. With the help of time series big data modeling results, energy economy managers develop reasonable and feasible pricing mechanisms of electricity price and improve the absorption capacity of the power grid. In addition, they also carry out scientific power equipment scheduling and cost–benefit analysis according to the results of data mining, so as to avoid the loss caused by accidental damage of equipment. Energy users adjust their power consumption behavior through the modeling results provided and achieve the effect of energy saving and emission reduction while reasonably reducing the electricity expenditure.
Asset prices, booms and recessions : Financial economics from a dynamic perspective
Studies the interaction of the financial market, economic activity and the macroeconomy from a dynamic perspective. The financial market to be studied here encompasses the money and bond market, credit market, stock market and foreign exchange market. Economic activity is described by the activity of firms, banks, households, governments and countries. The book shows how economic activity affects asset prices and the financial market and how asset prices and financial market volatility feed back to economic activity. The focus in this book is on theories, dynamic models and empirical evidence.
Applied Quantitative Finance
Applied Quantitative Finance (2nd edition) provides a comprehensive and state-of-the-art treatment of cutting-edge topics and methods. It provides solutions to and presents theoretical developments in many practical problems such as risk management, pricing of credit derivatives, quantification of volatility and copula modelling. The synthesis of theory and practice supported by computational tools is reflected in the selection of topics as well as in a finely tuned balance of scientific contributions on practical implementation and theoretical concepts. This linkage between theory and practice offers theoreticians insights into considerations of applicability and, vice versa, provides practitioners comfortable access to new techniques in quantitative finance.
An Introduction to the Mathematics of Money : Saving and Investing
This is an undergraduate textbook on the basic aspects of personal savings and investing with a balanced mix of mathematical rigor and economic intuition. It uses routine financial calculations as the motivation and basis for tools of elementary real analysis rather than taking the latter as given. Proofs using induction, recurrence relations and proofs by contradiction are covered. Inequalities such as the Arithmetic-Geometric Mean Inequality and the Cauchy-Schwarz Inequality are used. Basic topics in probability and statistics are presented.
Advances in Mathematical Finance
This volume brings together a collection of chapters by some of the most distinguished researchers and practitioners in the fields of mathematical finance and financial engineering. Presenting state-of-the-art developments in theory and practice.
