Financial economics, and the calculations of time and uncertainty derived from it, are playing an increasingly important role in non-finance areas, such as monetary and environmental economics. Professors Le Roy and Werner here supply a rigorous yet accessible graduate-level introduction to this subfield of microeconomic theory and general equilibrium theory. Since students often find the link between financial economics and equilibrium theory ...

"The acknowledged bible on investor relations" Investor relations is an essential facet of any publicly traded company, inevitably affecting its stock price, investments, and liquidity. "Maximizing Your Investor Relations" provides practical guidance needed to master this complex undertaking and advocate persuasively on your company's behalf to achieve greater recognition and value. Comprehensive and thoughtful, it focuses on controlling the ...

It develops an enterprise-wide risk information system and defines the major challenges that need to be addressed in developing such a system. ...

The efficient markets hypothesis has been the central proposition in finance for nearly thirty years. It states that securities prices in financial markets must equal fundamental values, either because all investors are rational or because arbitrage eliminates pricing anomalies. This book<BR>describes an alternative approach to the study of financial markets: behavioral finance. This approach starts with an observation that the assumptions ...

Shows how "price-driven volatility" explains many of the mysteries associated with stock price behavior. Covers the excess volatility problem of Shiller; the equity premium puzzle of Mehra and Prescot; the private information hypothesis of French and Roll; and shows why professionals have a difficult time beating the market. Portfolio Managers, Brokers, and Investment Bankers. ...

This book explores the behavior of interest rates as they relate to changing market conditions, and examines how risk can be managed. It successfully bridges the gap between interest-rate theory and its application to fixed-income security portfolio management. ...

Through accessible, detailed examinations of themes central to auction theory, Vijay Krishna explores auctions and competitive bidding as games of incomplete information. His results on bidding strategies, efficiency, and revenue maximization, and his clear proofs for each proposition, make this book both the standard reference on auctions and the first source of authoritative information about multi-unit auctions. Well organized and featuring ...

Liquid markets generate hundreds or thousands of ticks (the minimum change in price a security can have, either up or down) every business day. Data vendors such as Reuters transmit more than 275,000 prices per day for foreign exchange spot rates alone. Thus, high-frequency data can be a fundamental object of study, as traders make decisions by observing high-frequency or tick-by-tick data. Yet most studies published in financial literature deal ...

The existence and nature of exchanges used not to be controversial; they were easily identified and characterized. New technology, however, has led to the development of new exchanges and trading systems, posing problems for those concerned with the regulation of trading markets. Ruben Lee&lt;br&gt;examines the question of what an exchange is, using arguments from both financial economics and law, and sets out a view of how exchanges ...

This volume provides a scientific foundation for the advice offered by financial planners to long-term investors. Based upon statistics on asset return behavior and assumed investor objectives, the authors derive optimal portfolio rules that investors can compare with existing rules of&lt;br&gt;thumb.
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