Essays in Derivatives. Risk-Transfer Tools and Topics Made Easy

The market for credit derivatives–financial instruments designed to transfer credit risk from one party to another–has grown exponentially in recent years, with volume expected to reach more than $4.8 trillion by 2004. With demand increasing from the private sector for finance professionals trained in the opportunities–and dangers–inherent in this fast-changing market, finance courses are already springing up to meet this need. Credit Derivatives: Explains the field of credit derivatives to business students with a background in finance Cites real-world examples throughout, reinforced by end-of-chapter questions and internet links to pricing models Provides a concise overview of the field that is ideal for instructors seeking to supplement traditional derivatives course material, as well as those looking to offer a stand-alone course on credit derivatives.

Gain fresh perspectives and approaches to the topic of students transferring among institutions of higher education. Despite the copious research on transfer patterns and students who transfer, this line of research is thronged with conceptual, methodological, and data challenges that warrant continued and more nuanced attention. This volume answers this call and provides updated scholarship and examines emerging issues pertaining to transfer. Organized around two broad, interconnected ways to conceptualize transfer, it first examines students who transfer and then discusses transfer as a complex postsecondary pathway. Engaging empirical research, perspectives, and case analysis from higher education scholars and institutional researchers, this volume offers renewed conceptual and methodological insights that inform future research on transfer, along with concrete recommendations for institutional researchers. This is the 170th volume of this Jossey-Bass quarterly report series. Timely and comprehensive, New Directions for Institutional Research provides planners and administrators in all types of academic institutions with guidelines in such areas as resource coordination, information analysis, program evaluation, and institutional management.

Stress-test financial models and price credit instruments with confidence and efficiency using the perturbation approach taught in this expert volume   Perturbation Methods in Credit Derivatives: Strategies for Efficient Risk Management  offers an incisive examination of a new approach to pricing credit-contingent financial instruments. Author and experienced financial engineer Dr. Colin Turfus has created an approach that allows model validators to perform rapid benchmarking of risk and pricing models while making the most efficient use possible of computing resources.  The book provides innumerable benefits to a wide range of quantitative financial experts attempting to comply with increasingly burdensome regulatory stress-testing requirements, including:  Replacing time-consuming Monte Carlo simulations with faster, simpler pricing algorithms for front-office quants Allowing CVA quants to quantify the impact of counterparty risk, including wrong-way correlation risk, more efficiently Developing more efficient algorithms for generating stress scenarios for market risk quants Obtaining more intuitive analytic pricing formulae which offer a clearer intuition of the important relationships among market parameters, modelling assumptions and trade/portfolio characteristics for traders The methods comprehensively taught in  Perturbation Methods   in Credit Derivatives  also apply to CVA/DVA calculations and contingent credit default swap pricing.

The literature surveys presented in this edited volume provide readers with up-to-date reviews on eleven contemporary topics in finance. Topics include unconventional monetary policy, implicit bank guarantees, and financial fraud – all linked to the exceptional event of the Global Financial Crisis Explores how recent studies on inflation risk premia and finance and productivity have benefitted from new empirical methods and the availability of relevant data Demonstrates how angel investing, venture capital, relationship lending and microfinance have benefitted from increased research as they have become more seasoned Investigates crowdfunding and crypto-currencies which have both arisen from recent technological developments

Risk assessment and management is a core element of mental health practice, and all nurses need to be aware of the risks surrounding them and their patients in order to create a safe working environment. This timely and accessible text explores how nurses can enhance their skills, and improve their practice so that risk is assessed and managed safely and effectively. Risk Assessment and Management in Mental Health Nursing explores issues including context and definitions of risk, risk assessment tools and techniques, strategies for preventing risk situations, suicide, self-harm, neglect, forensic aspects of risk, substance misuse, ethical considerations, , victimology, risk to others and risk to self. Special Features: Written in the context of latest policy developments such as the National Service Frameworks Discusses the role of the mental health nurse in the assessment and management of risk Explores an increasingly important and timely subject in mental health practice Practical focus, with case studies throughout Written by experts in the field

Detailed guidance on the mathematics behind equity derivatives Problems and Solutions in Mathematical Finance Volume II is an innovative reference for quantitative practitioners and students, providing guidance through a range of mathematical problems encountered in the finance industry. This volume focuses solely on equity derivatives problems, beginning with basic problems in derivatives securities before moving on to more advanced applications, including the construction of volatility surfaces to price exotic options. By providing a methodology for solving theoretical and practical problems, whilst explaining the limitations of financial models, this book helps readers to develop the skills they need to advance their careers. The text covers a wide range of derivatives pricing, such as European, American, Asian, Barrier and other exotic options. Extensive appendices provide a summary of important formulae from calculus, theory of probability, and differential equations, for the convenience of readers. As Volume II of the four-volume Problems and Solutions in Mathematical Finance series, this book provides clear explanation of the mathematics behind equity derivatives, in order to help readers gain a deeper understanding of their mechanics and a firmer grasp of the calculations. Review the fundamentals of equity derivatives Work through problems from basic securities to advanced exotics pricing Examine numerical methods and detailed derivations of closed-form solutions Utilise formulae for probability, differential equations, and more Mathematical finance relies on mathematical models, numerical methods, computational algorithms and simulations to make trading, hedging, and investment decisions. For the practitioners and graduate students of quantitative finance, Problems and Solutions in Mathematical Finance Volume II provides essential guidance principally towards the subject of equity derivatives.

Venture deep into the heart of finance's weird and wonderful paradoxes Dinosaur Derivatives and Other Trades is an entertaining and compelling tour de force highlighting the paradoxes inherent to the modern financial system. Presented as a series of striking case studies, this book explores certain enigmatic or philosophical puzzles in the finance industry; some of these puzzles may seem slightly absurd at first glance, but all are very relevant to the way finance is conducted in the real world. Each story highlights specific hypocrisies or moral dilemmas that lie at the heart of the system, guiding readers through the challenges of finance by way of innovative and memorable paradigms. Written in clear, accessible language, this book doesn't claim to offer original financial theory or philosophy as such, but instead deepens the reader's understanding of the system and stimulates independent consideration of the current state of affairs. The financial world, so often viewed as a rather dull place, is secretly alive with possibilities of strange and sometimes wonderful conundrums. There is the possibility, for instance, of a Manhattan auction house selling derivatives to buy swift-swimming predators known as Megalodons (thought to be extinct for millions of years). This book explores this and other curious propositions to point out the paradoxes of finance. Explore the meaning of «value» in different contexts Learn what the Old Testament can teach us about risk and uncertainty Examine an alternative take on the 2007/2008 credit crisis Consider how the «financial innovation» trend impacts the industry To truly understand something, it is necessary to crawl deep into the metaphorical underbelly and have a look around. Dinosaur Derivatives and Other Trades provides the itinerary, and the insightful discussion that stimulates curiosity.

Offers quantity surveyors, engineers, building surveyors and contractors clear guidance on how to recognise and avoid measurement risk. The book recognises the interrelationship of measurement with complex contractual issues; emphasises the role of measurement in the entirety of the contracting process; and helps to widen the accessibility of measurement beyond the province of the professional quantity surveyor. For the busy practitioner, the book includes: Detailed coverage of NRM1 and NRM2, CESMM4, Manual of Contract Documents for Highway Works and POM(I) Comparison of NRM2 with SMM7 Detailed analysis of changes from CESMM3 to CESMM4 Coverage of the measurement implications of major main and sub-contract conditions (JCT, NEC3, Infrastructure Conditions and FIDIC) Definitions of 5D BIM and exploration of BIM measurement protocols Considerations of the measurement risk implications of both formal and informal tender documentation and common methods of procurement An identification of pre- and post-contract measurement risk issues Coverage of measurement risk in claims and final accounts Detailed worked examples and explanations of computer-based measurement using a variety of industry-standard software packages.

The seminal guide to risk management, streamlined and updated Risk Management in Banking is a comprehensive reference for the risk management industry, covering all aspects of the field. Now in its fourth edition, this useful guide has been updated with the latest information on ALM, Basel 3, derivatives, liquidity analysis, market risk, structured products, credit risk, securitizations, and more. The new companion website features slides, worked examples, a solutions manual, and the new streamlined, modular approach allows readers to easily find the information they need. Coverage includes asset liability management, risk-based capital, value at risk, loan portfolio management, capital allocation, and other vital topics, concluding with an examination of the financial crisis through the utilisation of new views such as behavioural finance and nonlinearity of risk. Considered a seminal industry reference since the first edition's release, Risk Management in Banking has been streamlined for easy navigation and updated to reflect the changes in the field, while remaining comprehensive and detailed in approach and coverage. Students and professionals alike will appreciate the extended scope and expert guidance as they: Find all «need-to-know» risk management topics in a single text Discover the latest research and the new practices Understand all aspects of risk management and banking management See the recent crises – and the lessons learned – from a new perspective Risk management is becoming increasingly vital to the banking industry even as it grows more complex. New developments and advancing technology continue to push the field forward, and professionals need to stay up-to-date with in-depth information on the latest practices. Risk Management in Banking provides a comprehensive reference to the most current state of the industry, with complete information and expert guidance.

This selection of in-depth, critical and comprehensive chapters on topical issues in applied health psychology features the work of key researchers and practitioners in the Australasian health system and deals with both theoretical and methodological aspects of the subject. The first health psychology text aimed specifically at regional postgraduate trainees Covers an array of topics and issues and focuses on applied aspects of clinical health and health promotion Includes both specialized topics and new frontiers of research Contextualizes health psychology teaching and learning for Australasian students