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OverviewFull Product DetailsAuthor: Claus Munk (Professor of Finance, Aarhus University)Publisher: Oxford University Press Imprint: Oxford University Press Dimensions: Width: 23.40cm , Height: 3.10cm , Length: 15.60cm Weight: 0.900kg ISBN: 9780198716457ISBN 10: 0198716451 Pages: 597 Publication Date: 12 February 2015 Audience: College/higher education , Professional and scholarly , Postgraduate, Research & Scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of ContentsPreface 1: Introduction and Overview 2: Uncertainty, Information, and Stochastic Processes 3: Portfolios, Arbitrage, and Market Completeness 4: State Prices 5: Preferences 6: Individual Optimality 7: Market Equilibrium 8: Basic Consumption-Based Asset Pricing 9: Advanced Consumption-Based Asset Pricing 10: Factor Models 11: The Economics of the Term Structure of Interest Rates 12: Risk-Adjusted Probabilities 13: Derivatives Appendix A. A Review of Basic Probability Concepts Appendix B. Results on the Lognormal Distribution Appendix C. Results from Linear AlgebraReviewsThis monograph provides a consistent and comprehensive presentation of the classical asset pricing paradigm, from the basics of the theory to the latest developments in the field. The reader's task is simplified by the consistent notation and the integrated conceptual framework that is employed; his technical facility improved by the extensive proofs of the main results that are offered; and his curiosity piqued by the extensive references to the empirical literature. The expert will find it a convenient reference and the student will find it an invaluable guide. Michael J. Brennan, Professor of Finance at Anderson School, University of California Los Angeles, at Manchester Business School, and at King Abdulaziz University, Jeddah Munk takes a completely fresh and well organized approach to communicating the key concepts and techniques of modern asset pricing theory. His treatment is clear, accessible, rigorously unified around the notion of state pricing, and encompasses the latest model specifications. He has set the new standard for doctoral-level courses on this subject. Darrell Duffie, Dean Witter Distinguished Professor of Finance, at the Graduate School of Business, Stanford University Financial Asset Pricing Theory is a rigorous, yet eminently accessible, textbook at the frontier of modern asset pricing theory with applications in portfolio management, the term structure of interest rates, and derivatives, and a nice selection of problem sets. Claus Munk's textbook is my top choice as a comprehensive and intuitive textbook for an introductory or advanced PhD course on asset pricing theory. George M. Constantinides, Leo Melamed Professor of Finance, The University of Chicago, Booth School of Business Author InformationClaus Munk holds a PhD in Economics (1997) and an MSc in Mathematics-Economics (1993) from the University of Southern Denmark. After holding positions at the University of Southern Denmark and Aarhus University, he joined the Copenhagen Business School in 2012 as a Professor of finance. His primary research areas are asset allocation, general asset pricing theory, financial derivatives, household finance, executive compensation, and the application of numerical methods in finance. His research has been published in highly ranked journals such as Journal of Financial Economics, Management Science, Journal of Accounting Research, Journal of Banking and Finance, and Journal of Economic Dynamics and Control. He is the author of the books Fixed Income Modelling and Financial Asset Pricing Theory, both published by Oxford University Press. Tab Content 6Author Website:Countries AvailableAll regions |
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