Financial Decisions and Markets (eBook)

A Course in Asset Pricing
eBook Download: PDF
2017
480 Seiten
Princeton University Press (Verlag)
978-1-4008-8822-1 (ISBN)

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Financial Decisions and Markets -  John Y. Campbell
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From the field's leading authority, the most authoritative and comprehensive advanced-level textbook on asset pricingIn Financial Decisions and Markets, John Campbell, one of the field's most respected authorities, provides a broad graduate-level overview of asset pricing. He introduces students to leading theories of portfolio choice, their implications for asset prices, and empirical patterns of risk and return in financial markets. Campbell emphasizes the interplay of theory and evidence, as theorists respond to empirical puzzles by developing models with new testable implications. The book shows how models make predictions not only about asset prices but also about investors' financial positions, and how they often draw on insights from behavioral economics.After a careful introduction to single-period models, Campbell develops multiperiod models with time-varying discount rates, reviews the leading approaches to consumption-based asset pricing, and integrates the study of equities and fixed-income securities. He discusses models with heterogeneous agents who use financial markets to share their risks, but also may speculate against one another on the basis of different beliefs or private information. Campbell takes a broad view of the field, linking asset pricing to related areas, including financial econometrics, household finance, and macroeconomics. The textbook works in discrete time throughout, and does not require stochastic calculus. Problems are provided at the end of each chapter to challenge students to develop their understanding of the main issues in financial economics.The most comprehensive and balanced textbook on asset pricing available, Financial Decisions and Markets is an essential resource for all graduate students and practitioners in finance and related fields. Integrated treatment of asset pricing theory and empirical evidence Emphasis on investors' decisions Broad view linking the field to financial econometrics, household finance, and macroeconomics Topics treated in discrete time, with no requirement for stochastic calculus Forthcoming solutions manual for problems available to professors

John Y. Campbell is the Morton L. and Carole S. Olshan Professor of Economics at Harvard University. His books include The Econometrics of Financial Markets (Princeton) and Strategic Asset Allocation: Portfolio Choice for Long-Term Investors.

Erscheint lt. Verlag 31.10.2017
Zusatzinfo 46 line illus. 11 tables.
Verlagsort Princeton
Sprache englisch
Themenwelt Wirtschaft Allgemeines / Lexika
Wirtschaft Betriebswirtschaft / Management Finanzierung
Wirtschaft Volkswirtschaftslehre Makroökonomie
Schlagworte accounting rate of return • Arbitrage • arbitrage pricing theory • asset • Behavioral Economics • Bliss point (economics) • Bond Valuation • Bond Yield • Capital allocation line • Capital Asset Pricing Model • Capital Budgeting • Capital Gain • Capital Market • Capital Market Line • Cash Flow • Credit spread (options) • Current Income • Cyclical Stock • Diversification (finance) • dividend • Dividend Discount Model • Dividend Yield • Economic equilibrium • economic forces • economy • efficient-market hypothesis • Equity (finance) • Equity Market • Equity Premium Puzzle • Equity Risk • Financial asset • Financial Economics • Financial Engineering • Financial innovation • Financial Instrument • Financial Intermediary • Financial Market Participants • financial plan • Financial ratio • Financial regulation • Financial Risk • Financial Services • Funding Currencies • Growth stock • Hedge (finance) • Hedge Fund • High-yield debt • income • Income Risk • Inflation • Information Economics • institutional investor • Interest Rate • Investment • investment advice • Investment Strategy • Investor • Leverage (finance) • Liability (financial accounting) • Macroeconomic model • Macroeconomics • Margin (finance) • market capitalization • Market impact • market liquidity • Market microstructure • market portfolio • market risk premium • Market Value • mathematical finance • monetary authority • monetary policy • money market • Nominal interest rate • portfolio optimization • Portfolio Weight • Profit (economics) • Public Finance • Rate of return • Real interest rate • Real versus nominal value (economics) • Return on Capital • Risk Aversion • Risk Premium • Security (finance) • Share Price • stochastic discount factor • Stock Market • Supply (economics) • Swap (finance) • tax arbitrage • Terminal value (finance) • Trader (finance) • Trading Strategy • treasury bill • Treasury Yield • Valuation (finance) • Value Investing • Wealth • Yield Curve
ISBN-10 1-4008-8822-0 / 1400888220
ISBN-13 978-1-4008-8822-1 / 9781400888221
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