... years92.1)10.1(090,1$)10.1(90$)10.1()2(090,1$)10.1(90$)1()1()(DUR212111=++=++=∑∑==ntttntttkCktC 1Chapter 8Bond Valuation and RiskFinancial Markets and Institutions, 7e, Jeff MaduraCopyright ... average of bond durations, weighted according to relative market value:∑==mjjjpw1DURDUR 2Chapter OutlineBond valuation processRelationships between coupon rate, required return,...
... trên thịtrườngtài chính. Thuật ngữ thịtrườngtàichính được sử dụng để phân biệt thịtrường mua bán, giao dịch các loại chứng khoán (tài sản tài chính) với cácthịtrường khác (thị trường ... năng thứ 2 của tài sản tài chính. III. THỊTRƯỜNGTÀI CHÍNH: 1. Khái niệm về thịtrường Thị trườngtàichính thể hiện rất nhạy cảm mọi hoạt động của cácthịtrường hàng hoá và dịch vụ. Nó ... thể rút ra được khái niệm về thị trường tài chính: Thị trườngtàichính là nơi diễn ra các hoạt động mua bán cáctài sản tài chính. • Đối tượng của thịtrườngtài chính: là những nguồn cung...
... returns and high riskMay be volatile because of fewer shares and trading based on rumors 2Chapter OutlineBackground on stockInitial public offeringsSecondary stock offeringsStock ... marketMonitoring by investorsThe corporate monitoring roleGlobalization of stock markets 1Chapter 10Stock Offerings and Investor MonitoringFinancial Markets and Institutions, 7e, Jeff...
... (LIFFE), the Singapore International Monetary Exchange (SEMEX), and Sydney Futures Exchange (SFE) 3Chapter Outline (cont’d)Hedging with interest rate futuresBond index futuresStock index ... of assets will decline, but the bank benefits from the fixed rate of long-term liabilities 2Chapter OutlineBackground on financial futuresInterpreting financial futures tablesValuation...
... estate investmentsThe value of stock portfolios managed by insurance companies declined in 2 001 2002 50Pension RegulationsRegulation varies with the type of planAll plans must comply ... policies to offer based on the potential level of claims and the premiums that they could charge 3Chapter Outline (cont’d)Interaction with other financial institutionsParticipation in financial ... fundsPension fund participation in financial marketsParticipation in financial markets 1Chapter 25Insurance and Pension Fund OperationsFinancial Markets and Institutions, 7e, Jeff MaduraCopyright...
... and reduced the number of IPOs and secondary offeringsThe volume of acquisitions declined 2Chapter OutlineInvestment banking servicesBrokerage servicesSources of incomeRegulation ... 31Regulation of Securities Firms (cont’d)Rules preventing abuse in the IPO marketIn the 2 001 2003 period various abuses occurred:Some securities firms that served as underwriters allocated...
... form of mortgages on commercial real estate and second mortgages on residential real estate 2Chapter OutlineTypes of finance companiesSources of finance company fundsUses of finance ... balancesFactoring reduces a business’s processing costs and provides short-term financing 1Chapter 22Consumer Finance OperationsFinancial Markets and Institutions, 7e, Jeff MaduraCopyright...