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Finance / International economics banking, investment, corporate finance and corporate governance. ‘Raghavendra Rau has written a witty and thoroughly accessible introduction to how financial markets work and why they may fail to deliver. Highly recommended.’ Sanjeev Goyal FBA, Fellow at Christ’s College, University of Cambridge
Contents: Preface; Acknowledgements; 1. Who are the players in corporate finance?; 2. NPV and the investment decision of the firm; 3. Portfolio theory and the discount rate; 4. Capital structure theory; 5. Option pricing theory; 6. Asymmetric information; 7. Market efficiency; 8. Wrapping it up; Index. Cambridge Short Introductions to Management
2017 216 x 138 mm 194pp 32 b/w illus. 12 tables 978-1-107-08980-8 Hardback £44.99 / US$79.99 978-1-107-46148-2 Paperback £19.99 / US$29.99 For all formats available, see
www.cambridge.org/9781107089808
Insurance Risk and Ruin Second edition David C. M. Dickson University of Melbourne
Designed as a first course in insurance risk theory for readers with a solid understanding of basic probability, this book develops the two major areas of risk theory: aggregate claims distributions and ruin theory. The new edition includes additional exercises and expanded sections on contemporary topics. International Series on Actuarial Science
2016 228 x 152 mm 304pp 30 b/w illus. 18 tables 978-1-107-15460-5 Hardback £39.99 / US$64.99 For all formats available, see
www.cambridge.org/9781107154605
Predictive Modeling Applications in Actuarial Science Volume 2: Case Studies in Insurance Edited by Edward W. Frees University of Wisconsin, Madison
Glenn Meyers ISO Innovative Analytics, New Jersey
and Richard A. Derrig Temple University, Philadelphia
Predictive modeling involves the use of data to forecast future events. Building on the foundations developed in the first volume, Volume 2 examines applications of predictive modeling, focusing on property and casualty
insurance, exposing readers to a variety of techniques in real-life contexts that demonstrate the value of predictive modeling. Praise for Volume 1: ‘With contributions coming from a wide variety of researchers, professors, and actuaries – including several CAS Fellows – it’s clear that this book will be valuable for any actuary whose main concern is using predictive modeling in his or her own work.’ David Zornek, Actuarial Review International Series on Actuarial Science
2016 247 x 174 mm 330pp 978-1-107-02988-0 Hardback £72.00 / US$89.99 For all formats available, see
www.cambridge.org/9781107029880
Limit Order Books Frédéric Abergel CentraleSupélec, France
Marouane Anane BNP Paribas, France
Anirban Chakraborti Jawaharlal Nehru University
Aymen Jedidi HSBC Bank, France
and Ioane Muni Toke Université de la Nouvelle-Calédonie
This text presents different models of limit order books and introduces a flexible open-source library, useful to those studying trading strategies. Physics of Society: Econophysics and Sociophysics
2016 244 x 170 mm 238pp 978-1-107-16398-0 Hardback £44.99 / US$64.99 For all formats available, see
TEXTBOOK
www.cambridge.org/9781107163980
Credit Risk Marek Capiński AGH University of Science and Technology, Krakow
and Tomasz Zastawniak University of York
This comprehensive and accessible introduction to modelling credit risk is tailored for master’s students. It focuses on the two mainstream approaches, structural models and reduced form models, and on pricing selected credit risk derivatives. Balancing rigorous theory with financial intuition, it features detailed worked examples and exercises. Contents: Preface; 1. Structural models; 2. Hazard function model and no arbitrage; 3. Defaultable bond pricing with hazard function; 4. Security pricing with hazard function; 5. Hazard process model; 6. Security pricing with hazard process; Appendix; Selected literature; Index. Mastering Mathematical Finance
2016 228 x 152 mm 201pp 6 b/w illus. 978-1-107-00276-0 Hardback £49.99 / US$79.99 978-0-521-17575-3 Paperback £27.99 / US$39.99 For all formats available, see
www.cambridge.org/9781107002760
International economics TEXTBOOK
The Financial System, Financial Regulation and Central Bank Policy Thomas F. Cargill University of Nevada, Reno
Traditional money and banking textbooks are long, expensive, and full of so much detail that students cannot understand the big picture. Thomas F. Cargill presents a new alternative: a short, inexpensive book that teaches students the fundamentals of government and central bank policies in a clear, narrative form. Contents: Part I. Introduction to the Financial and Monetary Regime: 1. The financial and monetary regime; 2. Basic concepts regarding money; Part II. The Financial System Component of the Financial and Monetary Regime: 3. The financial system and the country’s flow of funds; 4. Interest rates in the financial system; 5. The level of interest rates; 6. The structure of interest rates; 7. International dimensions of the financial system; Part III. The Role of Government in the Financial and Monetary Regime: 8. The basic roles of government in the financial and monetary regime; 9. Regulation and supervision of the financial system; 10. A short history of the US financial and monetary regime in action; Part IV. Five Steps to Understanding Central Banks and Central Bank Policy: 11. The five steps and step 1 – the institutional design of the central bank; 12. Central banks, base money