Securities Valuation

Securities Valuation : Applications of Financial Modeling

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Description

Securities Valuation: Applications of Financial Modeling is a clear, concise guide to securities valuation and the principles of financial theory. It describes state-of-the-art methods for valuing a broad range of securities: equity, equity and interest rate options, swaps and swaptions, treasuries, corporate bonds with and without credit risks, mortgage-backed securities, collateralized mortgage obligations, credit derivative swaps, and more. Thomas Ho and Sang Bin Lee use their combined fifty years of experience in academia, financial business, and public services to present students and general readers with twenty-six challenging cases. These cases describe the contexts in which financial models are used, the practical complications of these models, and ways to deal with their limitations. Each chapter begins with a problem in valuation, formulates models for it, and then provides the solutions. The assumptions, input data, and output solutions for each model are clearly stated. The model is illustrated by a numerical example rendered in Excel. A Online Resource Centre-www.thomasho.com-contains more than 130 Excel files of all the financial models from this book and its three companion volumes. Users can download the models, analyze them on their spreadsheets, and use them to do practice exercises Securities Valuation: Applications of Financial Modeling is ideal for undergraduate and graduate courses in finance and mathematical finance as well as for professional training programs. It is part of a series on financial modeling by the authors that also includes The Oxford Guide to Financial Modeling. Future titles in the series will focus on financial modeling for options, futures, and derivatives and financial modeling for financial institutions.show more

Product details

  • Paperback | 336 pages
  • 178 x 250 x 26mm | 598.75g
  • Oxford University Press Inc
  • New York, United States
  • English
  • New.
  • numerous figures and tables
  • 0195172752
  • 9780195172751
  • 1,985,668

Review quote

"Securities Valuation provides a hands-on, yet highly analytic, approach to the valuation of securities, ranging from equities to options to fixed income securities. Ho and Lee have written a superb textbook that combines academic rigor and real-world applicability. The book is well-suited for derivatives and fixed income courses."-Hans R. Stoll, The Anne Marie and Thomas B. Walker Professor of Finance, Owen Graduate School of Management, Vanderbilt University "This book showcases Dr. Ho's tireless journey into the frontier of finance over the years. It clearly demonstrates how various rigorous financial models can be practically incorporated into companies' strategic decision making and enterprise risk management. The book challenges our conventional thinking in capital structure theory, interest rate behavior and default risk pricing. It should provoke debate for many years to come."-Tony Kao, Managing Director of Global Fixed Income, General Motors Asset Management "The Oxford Guide to Financial Modeling, and its companion volume, Securities Valuation, are invaluable tools for understanding and developing financial models to solve real business problems. They blend cutting-edge financial theory with practical examples that are immediately useful. This approach enables the student and practitioner to develop the thinking processes needed to formulate and solve a broad range of contemporary financial problems. The Guide has been exceedingly useful in my own work." -Dr. Robert Carow, Director of Corporate Compensation, AIGshow more

About Thomas S. Y. Ho

Thomas S.Y. Ho is the President of the Thomas Ho Company, Ltd. He is the founder/CEO of Global Advanced Technology and a former professor of finance at the Stern School of Business, New York University. Sang Bin Lee is Professor of Finance at Hanyang University in Korea and a Commissioner of the Korean SEC. He was president of the Korean Securities Association and an independent director and member of the risk management committee at Hana Bank in Korea.show more

Table of contents

1. INTRODUCTION; 2. EQUITY OPTIONS; 3. EXOTIC OPTIONS; 4. BOND MATHEMATICS, TREASURY SECURITIES, AND SWAPS; 5. BOND OPTIONS; 6. CORPORATE BONDS-INVESTMENT GRADE; 7. CORPORATE BONDS-HIGH YIELD BONDS; 8. OTHER BONDS: CONVERTIBLE BONDS, MBS, CMOshow more