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Chapter 8
Bond Valuation and Risk
Financial Markets and Institutions, 7e, Jeff Madura
Copyright ... average of
bond durations, weighted according to relative market
value:
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DURDUR
2
Chapter Outline
Bond valuation process
Relationships 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 tr
ường 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 risk
May be volatile because of fewer shares and trading based on rumors
2
Chapter Outline
Background on stock
Initial public offerings
Secondary stock offerings
Stock ... market
Monitoring by investors
The corporate monitoring role
Globalization of stock markets
1
Chapter 10
Stock Offerings and
Investor Monitoring
Financial Markets and Institutions, 7e, Jeff...
... (LIFFE), the
Singapore International Monetary Exchange (SEMEX), and
Sydney Futures Exchange (SFE)
3
Chapter Outline (cont’d)
Hedging with interest rate futures
Bond index futures
Stock index ... of assets will decline, but the
bank benefits from the fixed rate of long-term liabilities
2
Chapter Outline
Background on financial futures
Interpreting financial futures tables
Valuation...
... estate investments
The value of stock portfolios managed by insurance companies
declined in 2 001 2002
50
Pension Regulations
Regulation varies with the type of plan
All plans must comply ... policies to offer based on the potential
level of claims and the premiums that they could charge
3
Chapter Outline (cont’d)
Interaction with other financial institutions
Participation in financial ... funds
Pension fund participation in financial markets
Participation in financial markets
1
Chapter 25
Insurance and Pension Fund
Operations
Financial Markets and Institutions, 7e, Jeff Madura
Copyright...
... and reduced the
number of IPOs and secondary offerings
The volume of acquisitions declined
2
Chapter Outline
Investment banking services
Brokerage services
Sources of income
Regulation ... 31
Regulation of Securities Firms
(cont’d)
Rules preventing abuse in the IPO market
In 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
2
Chapter Outline
Types of finance companies
Sources of finance company funds
Uses of finance ... balances
Factoring reduces a business’s processing costs and
provides short-term financing
1
Chapter 22
Consumer Finance
Operations
Financial Markets and Institutions, 7e, Jeff Madura
Copyright...