Language : English
Published : 2003-07-09
Pages : 662
Fixed-Income Securities: Valuation, Risk Management and Portfolio Strategies
This is the first comprehensive textbook for students studying fixed-income securities, and is ideally suited to MBA, MSc and final year undergraduate students in Finance and related topics.
The text offers an accessible and detailed account of interest rates and risk management in bond markets. It develops insights into different bond portfolio strategies, and illustrates how various types of derivative securities can be used to shift the risks associated with investing in fixed-income securities. It also provides extensive coverage on all sectors of the bond market, and the techniques for valuing bonds. In addition, explanation is given of state-of-the-art techniques for bond portfolio management, including: A description of numerous fixed-income assets and related securities, namely zero coupon government bonds, coupon bearing government bonds, corporate bonds, exchange-traded bond options, bonds with embedded options, floating rate notes, caps, floors and collars, swaptions, credit derivatives, mortgage-backed securities, etc. The development of tools to analyse interest rate sensitivity and to value fixed- income securities, with an emphasis on active and passi ve bond management, and an overview of techniques used by mutual fund and also hedge fund managers.
With numerous worked examples covering the valuation, risk management and portfolio strategies of fixed income securities, and imaginative discussion of important topics such as deriving the zero yield curve, deriving credit spreads, and hedging interest rate risk, the text provides an accessible route into the complex worlds of fixed income securities.
Supplementary materials for lecturers and students(including a syllabus, a course web page, PowerPoint slides, solutions to problems, and Excel illustrations) can be found at the following website: www.wiley.co.uk/martellini
“The authors have produced a work of the very highest quality. As focused as it is comprehensive, this is a superb contribution to the literature…”
Moorad Choudhry, VP, Structured Finance Services, JPMorgan Chase Bank, Senior Fellow, Centre for Mathematical Trading and Finance, CASS Business School, London.
About the Author
Lionel Martellini is an assistant Professor of Finance at the Marshall School of Business, University of Southern California, where he teaches “fixed–income securities” at the MBA level. He is also a research associate at the EDHEC Risk and Asset Management Research Center, and a member of the editorial boards of The Journal of Bond Training and Management and The Journal of Alternative Investments. Philippe Priaulet is a fixed–income strategist in charge of derivatives strategies for HSBC. His expertise is related to fixed–income asset management and derivatives pricing and hedging, and his research has been published in leading academic and practitionersa journals. Formerly, he was head of fixed–income research in the Research and Innovation Department of HSBC–CCF. Stephanie Priaulet is a senior index portfolio manager in the Structured Asset Management Department at AXA Investment Managers. Previously, he was head of qualitative engineering in The Fixed Income Research Department at AXA Investment Managers. He also teaches “fixed–income securities” as a part–time lecturer at the University Paris Dauphine. He is a member of the editorial board of The Journal of Bond Trading and Management, where he has published several research papers.
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Student Value Pack: Accounting: An Introduction to Principles and Practice Text Workbook 8th Edition
Accounting: An Introduction to Principles and Practice, Eighth Edition, will be updated to align with the latest Financial Services Training Package. The text addresses units in Certificate III Accounts Administration, Certificate IV Accounting, Diploma of Accounting and Certificate IV Bookkeeping.
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Table of Contents
1. Accounting its foundations
2. The accounting equation
3. Transactions, general journals and double entry processing
4. Transactions, specialized journals and double entry processing
5. Separate ledgers for accounts receivable and accounts payable
6. Journals and ledgers for special transactions
7. Management controls over cash
8. The general ledger and financial reports
9. Matching expense and revenueto the accounting period
10. Preparing final reports from a worksheet
11. Advanced management reports and correction of errors
12. Accounting for non-current assets
13. Payroll preparation and accounting entries
“Global Financial Accounting and Reporting 3e” provides a complete companion to financial accounting that takes management students with no previous knowledge of accounting from the mechanics of how financial records are structured through to being able to understand and analyze published consolidated financial statements. The aim is to place financial reporting in its business context and to make it clear to aspiring managers how accounting is an integral part of understanding an enterprise. To this end this book considers how the conceptual foundations of accounting translate into the financial statements of businesses. The book is global in its approach. It uses International Financial Reporting Standards as its basis and so reflects the rules followed by nearly all European listed companies and by an ever-increasing number of firms worldwide. “Global Financial Accounting and Reporting” is primarily aimed at future users of accounting information such as managers and analysts. It is therefore ideal for use at MBA level. It can also be used on financial accounting modules for business students at the undergraduate level.
This international best-seller provides a clear and accessible introduction to cost and management accounting. Colin Drury’s renowned authoring expertise blends theory and practice and the text encompasses all the basic topics needed on an introductory course. Now in its seventh edition, Cost and Management Accounting has been carefully updated to ensure it precisely fits the latest course and examination requirements.
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