Liquidit?tshaltung und Unternehmenswert, Carsten Reimund

Автор: Foucault, Thierry
Название: Market Liquidity: Theory, Evidence, and Policy
ISBN: 0199936242 ISBN-13(EAN): 9780199936243
Издательство: Oxford Academ
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Описание: The way in which securities are traded is very different from the idealized picture of a frictionless and self-equilibrating market offered by the typical finance textbook. Market Liquidity offers a more accurate and authoritative take on liquidity and price discovery.

Автор: Gueant, Olivier
Название: Financial mathematics of market liquidity
ISBN: 1498725473 ISBN-13(EAN): 9781498725477
Издательство: Taylor&Francis
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Описание:

This book is among the first to present the mathematical models most commonly used to solve optimal execution problems and market making problems in finance. The Financial Mathematics of Market Liquidity: From Optimal Execution to Market Making presents a general modeling framework for optimal execution problems-inspired from the Almgren-Chriss approach-and then demonstrates the use of that framework across a wide range of areas.

The book introduces the classical tools of optimal execution and market making, along with their practical use. It also demonstrates how the tools used in the optimal execution literature can be used to solve classical and new issues where accounting for liquidity is important. In particular, it presents cutting-edge research on the pricing of block trades, the pricing and hedging of options when liquidity matters, and the management of complex share buy-back contracts.

What sets this book apart from others is that it focuses on specific topics that are rarely, or only briefly, tackled in books dealing with market microstructure. It goes far beyond existing books in terms of mathematical modeling-bridging the gap between optimal execution and other fields of Quantitative Finance.

The book includes two appendices dedicated to the mathematical notions used throughout the book. Appendix A recalls classical concepts of mathematical economics. Appendix B recalls classical tools of convex analysis and optimization, along with central ideas and results of the calculus of variations.

This self-contained book is accessible to anyone with a minimal background in mathematical analysis, dynamic optimization, and stochastic calculus. Covering post-electronification financial markets and liquidity issues for pricing, this book is an ideal resource to help investment banks and asset managers optimize trading strategies and improve overall risk management.

Автор: Prof. Dr. Dirk Schiereck; Alexandra Hachmeister
Название: Informed Traders as Liquidity Providers
ISBN: 3835007556 ISBN-13(EAN): 9783835007550
Издательство: Springer
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Цена: 9781.00 р.
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Описание: Today, the majority of large international stock exchanges operates electronic trading systems and abandons more and more floor trading which relies upon specialists and market makers. The preferred trading mechanism is the so-called open limit order book, which induces continuous double auction trading without any market participants designated to facilitate trading through their own trading activity. Trading in these market structures is considered the more attractive the smaller the spread between the highest buy and the lowest sell limit order, i.e. the more liquid a market is. This leads to the question which market participants are willing to enter buy and sell limit orders in the open limit order book to enable liquid trading. Traditional theoretical literature concludes that exclusively uninformed traders enter limit orders and provide liquidity while impatient informed traders enter liquidity-consuming market orders. Recent, primarily experimental studies question this rigid distinction. This is the starting point for Ms Hachmeister's thesis, when she analyzes - based upon an individually compiled extensive set of transaction data - informed traders' order type choice.

Автор: Stefan Rehbach
Название: Kundenwert und Unternehmenswert
ISBN: 382447882X ISBN-13(EAN): 9783824478828
Издательство: Springer
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Цена: 7836.00 р.
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Описание: Stefan Rehbach zeigt, wie die Entstehung der Cash Flows eines Unternehmens transparenter gemacht und dadurch ihre Prognose erleichtert werden kann. Er veranschaulicht seine Uberlegungen am Beispiel von E-Commerce-Unternehmen, den Prototypen junger Unternehmen im Grundungsboom der 1990er Jahre."

Автор: Prof. Dr. Guido Eilenberger; Ingo Lange
Название: Unternehmenswert und Behavioral Finance in der Insolvenz
ISBN: 3835001809 ISBN-13(EAN): 9783835001800
Издательство: Springer
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Цена: 9141.00 р.
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Описание: Geleitwort Die Er ffnung eines Insolvenzverfahrens bedeutet nicht zwangsl ufig das Ende der Unternehmung. Vielmehr kann es auch ein Weg sein, um das Unternehmen aus der Krise in eine bessere Zukunft zu f hren. In diese Richtung zielt das Forschungsinteres- se von Herrn Lange, der die Unternehmensinsolvenz als Chance f r einen Neuanfang begreift und Wege aufzeigt, wie dieser Neuanfang effizient gestaltet und zum Erfolg gef hrt werden kann. Herrn Lange gelingt eine in sich geschlossene Darstellung zum Thema Insolvenz unter dem Aspekt der Werterhaltung von Unternehmungen nach der Krise und unter Be- r cksichtigung verhaltenswissenschaftlicher Erkenntnisse insbesondere aus dem Fachgebiet der "Behavioral Finance." Der Verfasser ist in herausragender Weise mit dem Gegenstand seiner Untersuchung vertraut, was er in den Kapiteln 3 und 4, die das Kernst ck der Arbeit bilden, eindr cklich unter Beweis stellt. Hier zeigen sich seine detaillierten Kenntnisse zum Thema Insolvenz und Unternehmenswert, wobei er Praxis und theoretische Fundierung hervorragend kombiniert. Die Ausf hrungen bestechen mit Tiefgr ndigkeit und Vollst ndigkeit, was auch den Leser stark fordert. Die Ableitung der Handlungsempfehlungen stellt die herausragende Leistung der Arbeit dar. In einem Entscheidungsmodell k nnen praxisrelevante L sungsans tze bez glich Insolvenzausl sung und Verwertung bez glich der Ma nahmeneffekte durchgespielt werden. Insgesamt stellt die Dissertation von Herrn Lange eine wichtige, neuartige und eigen- st ndige, im letzten Teil beraus originelle Untersuchung dar, die wesentliche neue wissenschaftliche Erkenntnisse f r die Praxis der wert- und verhaltensorientierten U nternehmensflihrung erbringt.

Автор: Prof. Dr. Manfred Lorch; Tanja Winter
Название: Der Unternehmenswert von Steuerberaterkanzleien
ISBN: 3834914959 ISBN-13(EAN): 9783834914958
Издательство: Springer
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Цена: 6529.00 р.
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Автор: Peter Sauerbier; Prof. Dr. Wolfgang B?hler
Название: Liquidit?tsspreads im Gleichgewicht auf illiquiden Anleihem?rkten
ISBN: 3835006371 ISBN-13(EAN): 9783835006379
Издательство: Springer
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Цена: 8489.00 р.
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Автор: Langley, Paul (reader In Economic Geography, Durha
Название: Liquidity lost
ISBN: 0198778880 ISBN-13(EAN): 9780198778882
Издательство: Oxford Academ
Цена: 5226.00 р.
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Описание: Contributing to interdisciplinary debates in cultural economy and the social studies of finance, and grounded in extensive empirical research, this book offers an innovative analysis of how the contemporary global financial crisis was governed. The focus is on the US and UK between 2007 and 2011

Автор: Chadha
Название: Interest Rates, Prices and Liquidity
ISBN: 1107480035 ISBN-13(EAN): 9781107480032
Издательство: Cambridge Academ
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Цена: 6018.00 р.
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Описание: The recent financial crisis forced central banks to resort to a wholly new set of largely untested instruments to restore order, including quantitative easing and the purchase of toxic financial assets. This book assesses the effectiveness of these policy instruments and explores what lessons have so far been learned.

Автор: Erik Banks
Название: Liquidity Risk
ISBN: 113737439X ISBN-13(EAN): 9781137374394
Издательство: Springer
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Цена: 9083.00 р.
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Описание: Liquidity Management is now a core consideration for banks and other financial institutions following the collapse of numerous well-known banks in 2007-8. This timely new edition will provide practical guidance on liquidity risk and its management - now mandatory under new regulation.

Автор: Holmstr M. Bengt, Tirole Jean
Название: Inside and Outside Liquidity
ISBN: 0262518538 ISBN-13(EAN): 9780262518536
Издательство: MIT Press
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Цена: 4232.00 р.
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Описание: Two leading economists develop a theory explaining the demand for and supply of liquid assets.

Автор: Schmidt
Название: Pricing and Liquidity of Complex and Structured Derivatives
ISBN: 3319459694 ISBN-13(EAN): 9783319459691
Издательство: Springer
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Цена: 6986.00 р.
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Описание: This book introduces the “strike of default” (SOD) benchmark concept. The author determines the SOD through cross-sectional pricing between the credit market and the option market, considering the same underlying. The idea of the SOD is to combine the implied probability of default from both markets to get a time-depending share price, at which the markets believe the underlying will default. By means of credit default swaps (CDS) and option pricing methods, the SOD is determined for any exchange-listed company, where option and CDS market data are available.