Moreno-Bromberg Santiago, Rochet Jean-Charles Continuous-Time Models in Corporate Finance: A User`s Guide 9780691176529

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Автор: Moreno-Bromberg Santiago, Rochet Jean-Charles (Сантьяго Морено-Бромберг)
Название: Continuous-Time Models in Corporate Finance: A User`s Guide
Перевод названия: Сантьяго Морено-Бромберг: Модели непрерывного времени в корпоративных финансах. Руководство пользова
ISBN: 9780691176529
Издательство: Wiley
Классификация:

Эконометрика

Финансы организации

Банковская делятельность

ISBN-10: 0691176523
Обложка/Формат: Hardback
Страницы: 200
Вес: 0.53 кг.
Дата издания: 03.10.2017
Язык: English
Иллюстрации: 15 line illus.
Размер: 202 x 243 x 23
Читательская аудитория: Tertiary education (us: college)
Подзаголовок: A user`s guide
Ссылка на Издательство: Link
Рейтинг:
Поставляется из: Англии
Описание:

Continuous-Time Models in Corporate Finance synthesizes four decades of research to show how stochastic calculus can be used in corporate finance. Combining mathematical rigor with economic intuition, Santiago Moreno-Bromberg and Jean-Charles Rochet analyze corporate decisions such as dividend distribution, the issuance of securities, and capital structure and default. They pay particular attention to financial intermediaries, including banks and insurance companies.

The authors begin by recalling the ways that option-pricing techniques can be employed for the pricing of corporate debt and equity. They then present the dynamic model of the trade-off between taxes and bankruptcy costs and derive implications for optimal capital structure. The core chapter introduces the workhorse liquidity-management model--where liquidity and risk management decisions are made in order to minimize the costs of external finance. This model is used to study corporate finance decisions and specific features of banks and insurance companies. The book concludes by presenting the dynamic agency model, where financial frictions stem from the lack of interest alignment between a firms manager and its financiers. The appendix contains an overview of the main mathematical tools used throughout the book.

Requiring some familiarity with stochastic calculus methods, Continuous-Time Models in Corporate Finance will be useful for students, researchers, and professionals who want to develop dynamic models of firms financial decisions.

Continuous-Time Models in Corporate Finance: A User`s Guide, Moreno-Bromberg Santiago, Rochet Jean-Charles