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Credit Derivatives, Revised Edition: A Primer on Credit Risk, Modeling, and Instruments - Tapa dura

 
9780133249187: Credit Derivatives, Revised Edition: A Primer on Credit Risk, Modeling, and Instruments
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Every company faces credit risk. Credit derivatives are among the most powerful tools available for managing it. Once restricted to the financial industry, they are now widely used by businesses of all kinds-and all financial professionals need to understand them. Credit Derivatives, Revised Edition, explains these tools simply, clearly, and rigorously: what they do, how they work, and how to use them in today's applications. The authors first show how credit risk can be measured and valued. They explain key ideas, such as recovery rates and credit spreads, and show how derivatives transfer credit risk to external investors. Next, they systematically demonstrate how credit risk models can describe and predict credit risk events. They cover structural models, including Merton and Black and Cox; empirical models, such as the Z-score model; and reduced-form models, such as Jarrow-Turnbull. The authors also present detailed explanations of two widely used instruments: credit default swaps (CDSs) and collateralized debt obligations (CDOs). Finally, building on what you've learned, the authors offer a brand-new primer on today's applications for financial instruments with embedded credit risk. FINANCIAL STATEMENT ANALYSIS Perform preliminary financial analysis on any potential project UNDERSTAND, MEASURE, AND ASSESS CREDIT RISK Master core concepts, from credit spreads to default probabilities MASTER POWERFUL CREDIT RISK MODELING APPROACHES Learn structural, empirical, and reduced-form credit risk modeling GAIN DEEP INSIGHT INTO TODAY'S INSTRUMENTS AND APPLICATIONS Understand CDSs, CDOs, and how credit-sensitive products are now used FOR EVERY FINANCIAL PRACTITIONER: BUY-SIDE AND SELL-SIDE For CFOs, treasurers, and other practitioners-everywhere from pension funds to commercial corporations
Contraportada:

TODAY’S COMPLETE GUIDE TO CREDIT RISK MARKETS AND APPLICATIONS FOR EVERY FINANCIAL PROFESSIONAL

  • Simple, yet rigorous explanations: no credit derivatives experience necessary
  • Covers principles, models, techniques, and widely used credit instruments, including CDSs and CDOs
  • Now includes detailed coverage of solving business problems with credit-sensitive instruments

Today’s credit risk market is immense—and immensely important, attracting everyone from hedge funds to banks and insurers. Today, corporate finance professionals must understand credit risk, both to manage risk in their own organizations and to consult with their clients. Most books in the field, however, are either too academic, or assume extensive experience.Credit Derivatives, Revised Edition, fills the gap, explaining the credit risk market clearly and simply, in language any working financial professional can understand.

 

The authors first explain the underlying principles of credit, and the various risks associated with extending loans and other types of credit. Next, they systematically present today’s leading methods and instruments for managing credit risk. You’ll learn how models can be used to gauge credit risk, and how credit derivatives can be used to isolate the risk and sell it to someone willing to accept it.

 

The authors introduce several of these credit derivatives—such as total return swaps, credit spread options, and credit linked notes—and devote two chapters to CDSs and CDOs, some of the market’s most widely used credit instruments. They conclude with a brand-new chapter on using credit-sensitive instruments to solve problems in industries ranging from utilities to biotech to insurance.

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  • EditorialFinancial Times Prentice Hall
  • Año de publicación2016
  • ISBN 10 0133249182
  • ISBN 13 9780133249187
  • EncuadernaciónTapa dura
  • Número de páginas304
  • Valoración
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Chacko, George; Sjöman, Anders; Motohashi, Hideto; Dessain, Vincent
Publicado por Ft Pr (2016)
ISBN 10: 0133249182 ISBN 13: 9780133249187
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Tim's Used Books Provincetown Mass.
(Provincetown, MA, Estados Unidos de America)

Descripción Hardcover. Condición: Very Good. Estado de la sobrecubierta: Very Good. No marks in text. Not a library book. Ships in a cardboard enclosure, from Tim's Used Books, open shop in Provincetown, Massachusetts. Founded 1991 on the principle of good books at sane prices. 11 2 23. Nº de ref. del artículo: 0000836

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