Financial Derivatives (eBook)

Pricing and Risk Management

Rob Quail, James A. Overdahl (Herausgeber)

eBook Download: PDF

2009 | 1. Auflage
624 Seiten
John Wiley & Sons (Verlag)
9780470541722 (ISBN)

Infos

Essential insights on the various aspects of financial
derivatives

If you want to understand derivatives without getting bogged
down by the mathematics surrounding their pricing and valuation,
Financial Derivatives is the book for you. Through in-depth
insights gleaned from years of financial experience, Robert Kolb
and James Overdahl clearly explain what derivatives are and how you
can prudently use them within the context of your underlying
business activities.

Financial Derivatives introduces you to the wide range of
markets for financial derivatives. This invaluable guide offers a
broad overview of the different types of derivatives-futures,
options, swaps, and structured products-while focusing on the
principles that determine market prices. This comprehensive
resource also provides a thorough introduction to financial
derivatives and their importance to risk management in a corporate
setting. Filled with helpful tables and charts, Financial
Derivatives offers a wealth of knowledge on futures, options,
swaps, financial engineering, and structured products.

* Discusses what derivatives are and how you can prudently
implement them within the context of your underlying business
activities

* Provides thorough coverage of financial derivatives and their
role in risk management

* Explores financial derivatives without getting bogged down by
the mathematics surrounding their pricing and valuation

This informative guide will help you unlock the incredible
potential of financial derivatives.

Autor

Robert W. Kolb (Chicago, IL) is the Frank W. Considine Chair of Applied Ethics and Professor of Finance at Loyola University Chicago. Before this, he was the Assistant Dean, Business and Society, and Director, Center for Business and Society, at the University of Colorado at Boulder, and department chairman at the University of Miami. Kolb is also the author of over twenty books on finance, derivatives, and futures, and has authored numerous articles in leading finance journals. James A. Overdhal (Washington, DC) a specialist in financial derivatives, is the Chief Economist of the United States Securities and Exchange Commission. He had previously served as chief economist of the Commodity Futures Trading Commission and has nearly two decades of experience in senior positions at various federal financial regulatory agencies. He has taught economics and finance at the University of Texas at Dallas, Georgetown University, Johns Hopkins University, and George Washington University. Overdahl earned his PhD in economics from Iowa State University.

Inhalt

Introduction xxii

Acknowledgments xxiv

PART I Overview of Financial Derivatives 1

1 Derivative Instruments: Forwards, Futures, Options, Swaps, and
Structured Products 3

G. D. Koppenhaver

2 The Derivatives Marketplace: Exchanges and the
Over-the-Counter Market 21

Sharon Brown-Hruska

3 Speculation and Hedging 43

Greg Kuserk

4 The Social Functions of Financial Derivatives 57

Christopher L. Culp

PART II Types of Financial Derivatives 73

5 Agricultural and Metallurgical Derivatives: Pricing 77

Joan C. Junkus

6 Agricultural and Metallurgical Derivatives: Speculation and
Hedging 89

Joan C. Junkus

7 Equity Derivatives 103

Jeffrey H. Harris and L. Mick Swartz

8 Foreign Exchange Derivatives 115

Robert W. Kolb

9 Energy Derivatives 125

Craig Pirrong

10 Interest Rate Derivatives 135

Ian Lang

11 Exotic Options 143

Robert W. Kolb

12 Event Derivatives 157

Justin Wolfers and Eric Zitzewitz

13 Credit Default Swaps 177

Steven Todd

14 Structured Credit Products 199

Steven Todd

15 Executive Stock Options 211

Robert W. Kolb

16 Emerging Derivative Instruments 221

Steve Swidler

PART III The Structure of Derivatives Markets and
Institutions 231

17 The Development and Current State of Derivatives Markets
233

Michael A. Penick

18 Derivatives Markets Intermediaries: Brokers, Dealers, Pools,
and Funds 249

James L. Carley

19 Clearing and Settlement 263

James T. Moser and David Reiffen

20 Counterparty Credit Risk 283

James Overdahl

21 The Regulation of U.S. Commodity Futures and Options
295

Walter L. Lukken

22 Accounting for Financial Derivatives 305

Ira G. Kawaller

23 Derivative Scandals and Disasters 313

John E. Marthinsen

PART IV Pricing of Derivatives: Essential Concepts
333

24 No-Arbitrage Pricing 335

Robert A. Strong

25 The Pricing of Forward and Futures Contracts 351

David Dubofsky

26 The Black-Scholes Option Pricing Model 371

A. G. Malliaris

27 The Black-Scholes Legacy: Closed-Form Option PricingModels
387

António Câmara

28 The Pricing and Valuation of Swaps 405

Gerald Gay and Anand Venkateswaran

PART V Advanced Pricing Techniques 423

29 Monte Carlo Techniques in Pricing and Using Derivatives
425

Cara M. Marshall

30 Valuing Derivatives Using Finite Difference Methods 441

Craig Pirrong

31 Stochastic Processes and Models 455

George Chalamandaris and A. G. Malliaris

32 Measuring and Hedging Option Price Sensitivities 477

R. Brian Balyeat

PART VI Using Financial Derivatives 501

33 Option Strategies 503

Stewart Mayhew

34 The Use of Derivatives in Financial Engineering: Hedge Fund
Applications 525

John F. Marshall and Cara M. Marshall

35 Hedge Funds and Financial Derivatives 541

Tom Nohel

36 Real Options and Applications in Corporate Finance 559

Betty Simkins and Kris Kemper

37 Using Derivatives to Manage Interest Rate Risk 575

Steven L. Byers

Index 591

Produkt-Details

• Erscheint lt. Verlag: 12.10.2009
• Reihe/Serie: Robert W. Kolb Series
• Reihe/Serie: Robert W. Kolb Series
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Schlagworte: Finance & Investments • Finanz- u. Anlagewesen • Institutional & Corporate Finance • Institutionelle Finanzplanung
• ISBN-13: 9780470541722 / 9780470541722