자료유형 | 단행본 |
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서명/저자사항 | Continuous-time models in corporate finance, banking and insurance : a user's guide/ Santiago Moreno-Bromberg, Jean-Charles Rochet. |
개인저자 | Moreno-Bromberg, Santiago,author. Rochet, Jean-Charles,author, |
발행사항 | Princeton: Princeton University Press, 2018. |
형태사항 | 1 online resource. |
기타형태 저록 | Print version: Moreno-Bromberg, Santiago Continuous-Time Models in Corporate Finance, Banking, and Insurance : A User's Guide Princeton : Princeton University Press,c2018 9780691176529 |
ISBN | 9781400889204 1400889200 |
서지주기 | Includes bibliographical references and index. |
요약 | " 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 firm's 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. "-- |
해제 | Provided by publisher. |
일반주제명 | BUSINESS & ECONOMICS / Industrial Management. BUSINESS & ECONOMICS / Management. BUSINESS & ECONOMICS / Management Science. BUSINESS & ECONOMICS / Organizational Behavior. Corporations --Finance. Options (Finance) Banks and banking. BUSINESS & ECONOMICS / Corporate Finance. BUSINESS & ECONOMICS / Economics / General. BUSINESS & ECONOMICS / Economics / Theory. Banks and banking. Corporations --Finance. Options (Finance) |
언어 | 영어 |
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