Описание: The first decade of the 21st Century has been disastrous for financial institutions, derivatives and risk management. Counterparty credit risk has become the key element of financial risk management, highlighted by the bankruptcy of the investment bank Lehman Brothers and failure of other high profile institutions such as Bear Sterns, AIG, Fannie Mae and Freddie Mac. The sudden realisation of extensive counterparty risks has severely compromised the health of global financial markets. Counterparty risk is now a key problem for all financial institutions. This book explains the emergence of counterparty risk during the recent credit crisis. The quantification of firm-wide credit exposure for trading desks and businesses is discussed alongside risk mitigation methods such as netting and collateral management (margining) and central counterparties. Banks and other financial institutions have been recently developing their capabilities for pricing counterparty risk and these elements are considered in detail via a characterisation of credit value adjustment (CVA). The implications of an institution valuing their own default via debt value adjustment (DVA) and funding costs (FVA) are also considered at length. Portfolio management and hedging of CVA are described in full. Wrong-way counterparty risks are addressed in detail in relation to interest rate, foreign exchange, commodity and credit derivative products. Regulatory capital for counterparty risk, including the recent Basel III requirements for CVA VAR is discussed. The management of counterparty risk within an institution by a CVA desk is also discussed in detail. Finally, the design and benefits of central clearing, a recent development to attempt to control the rapid growth of counterparty risk, is considered. Hedging aspects, together with the associated instruments such as credit defaults swaps (CDSs) and contingent CDS (CCDS) are described in full. This book is unique in being practically focused but also covering the more technical aspects. It is an invaluable complete reference guide for any market practitioner, policy maker, academic or student with any responsibility or interest within the area of counterparty credit risk and CVA.
Описание: Mathematical techniques for trading and risk management. Managing Energy Risk closes the gap between modern techniques from financial mathematics and the practical implementation for trading and risk management.
Автор: Nick Cavalla Название: OTC Markets in Derivative Instruments ISBN: 0333583086 ISBN-13(EAN): 9780333583081 Издательство: Springer Рейтинг: Цена: 34799.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Analyzes the important features of the capital markets of the 1990s in terms of risk management, strategy and profit. Contributors include Goldman Sachs, Mitsubishi Finance, NatWest Futures, SP Morgan, BZW and Arthur Anderson.
Автор: Zvi Bodie Название: Investments 11 edition ISBN: 126008339X ISBN-13(EAN): 9781260083392 Издательство: McGraw-Hill Рейтинг: Цена: 10476.00 р. Наличие на складе: Поставка под заказ.
Описание: It sets the standard for graduate/MBA investments textbooks. The content of this book places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts.
Автор: International Monetary In Название: Internationalization of the RMB ISBN: 1138651702 ISBN-13(EAN): 9781138651708 Издательство: Taylor&Francis Рейтинг: Цена: 24499.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: This book provides the Renminbi Internationalization Index (RII) and focuses on the off-shore RMB markets. It summarizes theoretical implications by studying major international currencies` historical developments, reviews the recent development of RMB off-shore markets, identifies key opportunities and challenges, and proposes suggestions to policy makers and market practitioners.
Автор: Luque Jaime Perez Название: Subprime Crisis, The: Lessons For Business Students ISBN: 9813200030 ISBN-13(EAN): 9789813200036 Издательство: World Scientific Publishing Рейтинг: Цена: 7603.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: The first major global economic contraction of the 21st century, or the 'Great Recession', as it is more commonly known, began in December of 2007, and would prove to be one of the most catastrophic economic events in postmodern history. The bursting of the American housing bubble and the subprime mortgage crisis that followed are widely attributed as being the primary causes for this economic downturn.The content of this book presents an in-depth analysis of several of the leading causes of the subprime crisis, as well as the subsequent measures that were used to contain a widespread economic recession. It is the aim of this book to provide adequate information and tools for readers to gain insight on how we can prevent the same mistakes from happening again. This analysis also explores an interesting question when considering public policy; was the economic disaster, that ensued, caused by overzealous consumers who borrowed more than they could afford, or was it caused by institutional entities that gambled away the American economy?
Автор: Erik Banks Название: The Credit Risk of Financial Instruments ISBN: 0333595939 ISBN-13(EAN): 9780333595930 Издательство: Springer Рейтинг: Цена: 33401.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: During the 1980s and 90s, banks have been exposed to new types of risks with far different characteristics and magnitudes than before. Erik Banks describes the credit risks encountered in dealing with financial instruments and establishes a framework for quantifying them.
Автор: Moore, Derek Название: Broken pie chart ISBN: 1787435547 ISBN-13(EAN): 9781787435544 Издательство: Emerald Рейтинг: Цена: 6300.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание: Investment outcomes and strategies have changed considerably since 2008. Broken Pie Chart demonstrates the failures of classical diversification and asset allocation, pointing out that the backward-looking methods used by traditional financial professionals will not work moving forward. Derek Moore explains why traditional risk-spreading leads to losses during sell-off periods, and contains risks that many investors do not recognize until it is too late. He also reflects on the changes in the financial market since the global financial crisis, and how these changes may affect your asset allocation and risk management decision-making in a landscape of lower rates and higher risks. With this work, readers can take a fresh look at their portfolios by identifying the emerging asset classes that will lead to investment success, using effective financial strategies to enhance their position, and placing smart floors, hedges and buffers to minimize risk.
This practical introduction explains the field of Blockchain Economics, the economic models emerging with the implementation of distributed ledger technology. These models are characterized by three factors: open platform business models, cryptotoken money supplies, and Initial Coin Offerings as a new and official form of financing. The book covers a variety of approaches from a business and academic perspective, ranging from financial theory, complexity, and open innovation networks to behavioral economics, self-determination theory, public policy, and financial inclusion.
Unlike existing titles, this book draws on worldwide blockchain industry experts to define the new discipline of Blockchain Economics and provide novel theoretical and conceptual resources for the future of this fast-developing economy. The primer also highlights the wider theme of blockchain as an institutional technology, in that many value transfer interactions might be shifted to automated networks, decreasing the number of human-operated institutions.
As well as stimulating further research, and implementation by business innovators and public policy strategists, the book can also be used as a foundational textbook in courses on Blockchain Economics.
Автор: Bacha Obiyathulla Ismath, Mirakhor Abbas Название: Islamic Capital Markets: A Comparative Approach (Second Edition) ISBN: 9811204012 ISBN-13(EAN): 9789811204012 Издательство: World Scientific Publishing Рейтинг: Цена: 12672.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
Islamic Capital Markets: A Comparative Approach (2nd Edition) looks at the similarities and differences between Islamic capital markets and conventional capital markets. The book explains each topic from both the conventional and the Islamic perspective, offering a full understanding of Islamic capital markets, processes, and instruments. In addition to a full explanation of Islamic products, the book also ensures a holistic understanding of the dual markets within which Islamic capital markets operate.
Ideal for both students and current practitioners, the second edition of the highly successful Islamic Capital Markets: A Comparative Approach fills a large gap in the current literature on the subject, featuring case studies from Malaysia, Indonesia, Europe, and the Middle East. One of the few comprehensive, dedicated guides to the subject available, the book offers comprehensive and in-depth insights on the topic of Islamic finance for students and professionals alike.
Автор: Bacha Obiyathulla Ismath, Mirakhor Abbas Название: Islamic Capital Markets: A Comparative Approach (Second Edition) ISBN: 9813274638 ISBN-13(EAN): 9789813274631 Издательство: World Scientific Publishing Рейтинг: Цена: 22968.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
Islamic Capital Markets: A Comparative Approach (2nd Edition) looks at the similarities and differences between Islamic capital markets and conventional capital markets. The book explains each topic from both the conventional and the Islamic perspective, offering a full understanding of Islamic capital markets, processes, and instruments. In addition to a full explanation of Islamic products, the book also ensures a holistic understanding of the dual markets within which Islamic capital markets operate.
Ideal for both students and current practitioners, the second edition of the highly successful Islamic Capital Markets: A Comparative Approach fills a large gap in the current literature on the subject, featuring case studies from Malaysia, Indonesia, Europe, and the Middle East. One of the few comprehensive, dedicated guides to the subject available, the book offers comprehensive and in-depth insights on the topic of Islamic finance for students and professionals alike.
Автор: Guesmi Khaled, Goutte Stephane Название: Risk Factors And Contagion In Commodity Markets And Stocks Markets ISBN: 9811210233 ISBN-13(EAN): 9789811210235 Издательство: World Scientific Publishing Рейтинг: Цена: 19008.00 р. Наличие на складе: Есть у поставщика Поставка под заказ.
Описание:
The link between commodities prices and the business cycle, including variables such as real GDP, industrial production, unemployment, inflation, and market uncertainty, has often been debated in the macroeconomic literature. To quantify the impact of commodities on the economy, one can distinguish different modeling approaches. First, commodities can be represented as the pinnacle of cross-sectional financial asset prices. Second, price fluctuations due to seasonal variations, dramatic market changes, political and regulatory decisions, or technological shocks may adversely impact producers who use commodities as input. This latter effect creates the so-called "commodities risk". Additionally, commodities price fluctuations may spread to other sectors in the economy, via contagion effects. Besides, stronger investor interest in commodities may create closer integration with conventional asset markets; as a result, the financialization process also enhances the correlation between commodity markets and financial markets.
Our objective in this book, Risk Factors and Contagion in Commodity Markets and Stocks Markets, lies in answering the following research questions: What are the interactions between commodities and stock market sentiment? Do some of these markets move together overtime? Did the financialization in energy commodities occur after the 2008 Global Financial Crisis? These questions are essential to understand whether commodities are driven only by their fundamentals, or whether there is also a systemic component influenced by the volatility present within the stock markets.
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