Intermediate Financial Theory

Intermediate Financial Theory

2nd Edition - July 19, 2005

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  • Authors: Jean-Pierre Danthine, Jean-Pierre Danthine, John Donaldson, John Donaldson
  • eBook ISBN: 9780080509020

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Description

The second edition of this authoritative textbook continues the tradition of providing clear and concise descriptions of the new and classic concepts in financial theory. The authors keep the theory accessible by requiring very little mathematical background. First edition published by Prentice-Hall in 2001- ISBN 0130174467.The second edition includes new structure emphasizing the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing, as well as a new chapter on asset management for the long term investor."This book does admirably what it sets out to do - provide a bridge between MBA-level finance texts and PhD-level texts....many books claim to require little prior mathematical training, but this one actually does so. This book may be a good one for Ph.D students outside finance who need some basic training in financial theory or for those looking for a more user-friendly introduction to advanced theory. The exercises are very good." --Ian Gow, Student, Graduate School of Business, Stanford University

Key Features

  • Completely updated edition of classic textbook that fills a gap between MBA level texts and PHD level texts
  • Focuses on clear explanations of key concepts and requires limited mathematical prerequisites
  • Updates includes new structure emphasizing the distinction between the equilibrium and the arbitrage perspectives on valuation and pricing, as well as a new chapter on asset management for the long term investor

Readership

Primary audience: Students in master's or Ph.D. programs in Finance

Table of Contents

  • PART I : INTRODUCTION
    Chapter 1: On the Role of Financial Markets and Institutions
    Chapter 2: The Challenges of Asset Pricing: A Roadmap
    PART II: THE DEMAND FOR FINANCIAL ASSETS
    Chapter 3: Making Choices in Risky Situations
    Chapter 4: Measuring Risk and Risk Aversion
    Chapter 5: Risk Aversion and Investment Decisions, Part I
    Chapter 6: Risk Aversion and Investment Decisions, Part II: Modern Portfolio Theory
    PART III: EQUILIBRIUM PRICING
    Chapter 7: The Capital Asset Pricing Model: Another View about Risk
    Chapter 8: Arrow-Debreu Pricing I
    Chapter 9: The Consumption Capital Asset Pricing Model (CCAPM)
    PART IV: ARBITRAGE PRICING
    Chapter 10: Arrow-Debreu Pricing II: the Arbitrage Perspective
    Chapter 11: The Martingale Measure : Part I
    Chapter 12: The Martingale Measure : Part II
    Chapter 13: The Arbitrage Pricing Theory (APT)
    PART V: EXTENSIONS
    Chapter 14: Portfolio Management in the long run
    Chapter 15: Financial Structure and Firm Valuation in Incomplete Markets
    Chapter 16: Financial Equilibrium with Differential Information
    EXERCISES

Product details

  • No. of pages: 392
  • Language: English
  • Copyright: © Academic Press 2005
  • Published: July 19, 2005
  • Imprint: Academic Press
  • eBook ISBN: 9780080509020

About the Authors

Jean-Pierre Danthine

Jean-Pierre Danthine
Jean-Pierre Danthine is professor of economics and finance at the University of Lausanne Switzerland), director of the International Center for Financial Asset Management and Engineering Lausanne & Geneva) and CEPR Research Fellow. The holder of a Ph.D. in economics from Carnegie-Mellon University and a M.S. in Economics from the University of Louvain, Professor DanthineI previously taught at at Columbia University and held visiting appointments at CUNY Graduate Center, University of Southern California (Los Angeles), Université d'Aix-Marseille, Université Laval (Québec), as well as Universities of Toulon and Dijon. He is an Associate Editor of Macroeconomic Dynamics and Finance Research Letters; Chairman of the Scientific Council of the TCIP (Training Center for Investment Professionals); member of the Council of the European Economic Association, of the Scientific Councils of CEPREMAP (Paris), CREST (Paris), CREI (U. Pompeu Fabra, Barcelona) as well as the Fonds national de la recherche scientifique (Economics Commission - Belgium). He was also a member of the Executive Committee of the ICMB (Geneva).

Affiliations and Expertise

Vice-Chairman of the Governing Board at the Swiss National Bank in Bern, Switzerland

Jean-Pierre Danthine

Jean-Pierre Danthine
Jean-Pierre Danthine is professor of economics and finance at the University of Lausanne Switzerland), director of the International Center for Financial Asset Management and Engineering Lausanne & Geneva) and CEPR Research Fellow. The holder of a Ph.D. in economics from Carnegie-Mellon University and a M.S. in Economics from the University of Louvain, Professor DanthineI previously taught at at Columbia University and held visiting appointments at CUNY Graduate Center, University of Southern California (Los Angeles), Université d'Aix-Marseille, Université Laval (Québec), as well as Universities of Toulon and Dijon. He is an Associate Editor of Macroeconomic Dynamics and Finance Research Letters; Chairman of the Scientific Council of the TCIP (Training Center for Investment Professionals); member of the Council of the European Economic Association, of the Scientific Councils of CEPREMAP (Paris), CREST (Paris), CREI (U. Pompeu Fabra, Barcelona) as well as the Fonds national de la recherche scientifique (Economics Commission - Belgium). He was also a member of the Executive Committee of the ICMB (Geneva).

Affiliations and Expertise

Vice-Chairman of the Governing Board at the Swiss National Bank in Bern, Switzerland

John Donaldson

Professor Donaldson holds the teaches the Mario J. Gabelli Professorship in Finance at Columbia Business school, teaching courses in basic finance and options. He focuses on business cycles and asset pricing, with a particular emphasis on the real side of the economy’s impact on equilibrium pricing of financial assets. His work has appeared in numerous professional journals, including the Journal of Economic Dynamics and Control, Econometrica, the Journal of Economic Theory and the Journal of Monetary Economics.

Affiliations and Expertise

Mario J. Gabelli Professor of Finance at Columbia University Business School, New York, NY, USA

John Donaldson

Professor Donaldson holds the teaches the Mario J. Gabelli Professorship in Finance at Columbia Business school, teaching courses in basic finance and options. He focuses on business cycles and asset pricing, with a particular emphasis on the real side of the economy’s impact on equilibrium pricing of financial assets. His work has appeared in numerous professional journals, including the Journal of Economic Dynamics and Control, Econometrica, the Journal of Economic Theory and the Journal of Monetary Economics.

Affiliations and Expertise

Mario J. Gabelli Professor of Finance at Columbia University Business School, New York, NY, USA

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