Advanced Asset Pricing Theory - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Advanced Asset Pricing Theory write by Ma Chenghu. This book was released on 2011-01-03. Advanced Asset Pricing Theory available in PDF, EPUB and Kindle. This book provides a broad introduction of modern asset pricing theory with equal treatments for both discrete-time and continuous-time modeling. Both the no-arbitrage and the general equilibrium approaches of asset pricing theory are treated coherently within the general equilibrium framework.The analyses and coverage are up to date, comprehensive and in-depth. Topics include microeconomic foundation of asset pricing theory, the no-arbitrage principle and fundamental theorem, risk measurement and risk management, sequential portfolio choice, equity premium decomposition, option pricing, bond pricing and term structure of interest rates. The merits and limitations are expounded with respect to allocation and information market efficiency, along with the classical expectations hypothesis concerning the information content of yield curve and bond prices. Efforts are also made towards the resolution of several well-documented puzzles in empirical finance, which include the equity premium puzzle, the risk free rate puzzle, and the money-ness bias phenomenon of Black-Scholes option pricing model.The theory is self-contained and unified in presentation. The inclusion of proofs and derivations to enhance the transparency of the underlying arguments and conditions for the validity of the economic theory makes an ideal advanced textbook or reference book for graduate students specializing in financial economics and quantitative finance. The explanations are detailed enough to capture the interest of those curious readers, and complete enough to provide necessary background material needed to explore further the subject and research literature.
Advanced Asset Pricing Theory
Advanced Asset Pricing Theory - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Advanced Asset Pricing Theory write by Chenghu Ma. This book was released on 2011. Advanced Asset Pricing Theory available in PDF, EPUB and Kindle.
Financial Asset Pricing Theory
Financial Asset Pricing Theory - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Asset Pricing Theory write by Claus Munk. This book was released on 2013-04-18. Financial Asset Pricing Theory available in PDF, EPUB and Kindle. The book presents models for the pricing of financial assets such as stocks, bonds, and options. The models are formulated and analyzed using concepts and techniques from mathematics and probability theory. It presents important classic models and some recent 'state-of-the-art' models that outperform the classics.
Asset Pricing
Asset Pricing - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Asset Pricing write by John H. Cochrane. This book was released on 2009-04-11. Asset Pricing available in PDF, EPUB and Kindle. Winner of the prestigious Paul A. Samuelson Award for scholarly writing on lifelong financial security, John Cochrane's Asset Pricing now appears in a revised edition that unifies and brings the science of asset pricing up to date for advanced students and professionals. Cochrane traces the pricing of all assets back to a single idea--price equals expected discounted payoff--that captures the macro-economic risks underlying each security's value. By using a single, stochastic discount factor rather than a separate set of tricks for each asset class, Cochrane builds a unified account of modern asset pricing. He presents applications to stocks, bonds, and options. Each model--consumption based, CAPM, multifactor, term structure, and option pricing--is derived as a different specification of the discounted factor. The discount factor framework also leads to a state-space geometry for mean-variance frontiers and asset pricing models. It puts payoffs in different states of nature on the axes rather than mean and variance of return, leading to a new and conveniently linear geometrical representation of asset pricing ideas. Cochrane approaches empirical work with the Generalized Method of Moments, which studies sample average prices and discounted payoffs to determine whether price does equal expected discounted payoff. He translates between the discount factor, GMM, and state-space language and the beta, mean-variance, and regression language common in empirical work and earlier theory. The book also includes a review of recent empirical work on return predictability, value and other puzzles in the cross section, and equity premium puzzles and their resolution. Written to be a summary for academics and professionals as well as a textbook, this book condenses and advances recent scholarship in financial economics.
A Behavioral Approach to Asset Pricing
A Behavioral Approach to Asset Pricing - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Behavioral Approach to Asset Pricing write by Hersh Shefrin. This book was released on 2008-05-19. A Behavioral Approach to Asset Pricing available in PDF, EPUB and Kindle. Behavioral finance is the study of how psychology affects financial decision making and financial markets. It is increasingly becoming the common way of understanding investor behavior and stock market activity. Incorporating the latest research and theory, Shefrin offers both a strong theory and efficient empirical tools that address derivatives, fixed income securities, mean-variance efficient portfolios, and the market portfolio. The book provides a series of examples to illustrate the theory. The second edition continues the tradition of the first edition by being the one and only book to focus completely on how behavioral finance principles affect asset pricing, now with its theory deepened and enriched by a plethora of research since the first edition
