ISBN:750493744
Author: Zeng
Publishing House: China Finance Publishing House.
Pricing: 37 pounds
Page count: 386
Release date: April 2006-1
Version:
Format: different 16 format.
Packing: paperback
Introduction: The compilers of this course focus on professors who have achieved fruitful research and profound attainments in some domestic universities and have advantages in postgraduate teaching. It is rare in China to integrate the strength of seven domestic universities in this way to create a course textbook. The design requirements of this course content are: (1) class arrangement suitable for master students' knowledge structure, theoretical level and teaching plan. (2) The scope and depth are moderate, neither too much nor too deep. Evaluate and learn from foreign theories and methods, avoid simple transplantation and introduction, pay attention to the reality of China, and sublimate to theoretical understanding; The language is plain and not obscure. (3) clarify the context and pay attention to the level and stage of the problem. (4) Show the characteristics in comparison and reflect the tendency in evaluation.
In order to meet the needs of the training objectives, knowledge level and knowledge structure of finance master students, this textbook is innovative in system design according to the development of modern finance. The book is divided into three chapters: mechanism-related, behavior subject and academic development. The chapter of mechanism focuses on the traditional and modern concepts of money, credit and finance, and pays attention to the relationship between various concepts in various fields. The chapter of behavior subject highlights all kinds of behavior choices, including the theoretical basis, realization mode and effect evaluation of behavior choices; The development of academic theory discusses the economic and social conditions, theoretical context, operation mode and policy proposition of various financial theories. The relationship among the three chapters is as follows: the content of the mechanism-related chapter provides theoretical basis and knowledge preparation for the behavior of financial subjects in the behavior subject chapter, and the content of the academic development chapter is the experience summary and ideological crystallization of the behavior practice of financial subjects; Actor is the core, mechanism connection is the forerunner, and theoretical development is deepening.
This textbook can be used not only as a teaching material for finance graduate students, but also as a self-study reading material for financial theory researchers and business workers in the economic and financial departments.
Directory:
The first relates to the mechanism.
Chapter 1 Introduction to Finance
Section 1 Traditional Finance and Modern Finance
First, the origin of the concept of "finance"
Second, "finance" and currency circulation and credit.
Third, the characteristics of modern finance.
Fourth, the financial concept from different perspectives.
Section 2 Financial Institutions and Financial Markets
I. Financial institutions, financial intermediaries and financial intermediaries
Second, the theoretical support for the existence and development of financial intermediaries
Third, the interaction between financial institutions and financial markets.
Section 3 Interaction between Finance and Economy
First of all, economy determines finance.
Second, the financial response to the economy.
Third, the integration and separation of finance and economy.
Fourth, the financial industry.
Section 4 Finance and Economic Growth
First, finance is the core of modern economy.
Second, financial repression and economic growth.
Third, financial liberalization and economic growth.
Appendix: Spiral of Financial Innovation
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Chapter II Money and Finance
Section 1 Substitution of Currency and Financial Products
I. Evolution of monetary form and function
Second, the general substitution of monetary and financial assets.
Third, currency substitution and its theory
Section 2 Prices of Monetary and Financial Assets
I. Changes in interest rates and prices of financial assets
Second, the exchange rate and the price of financial assets.
Three. Money supply and demand and the price of financial assets
Section 3 Monetary and Financial Stability
First, currency virtualization and financial stability.
Second, electronic money, online banking and financial stability
Third, monetary policy transmission and financial macro-control.
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Chapter III Credit and Finance
Section 1 Theoretical Meaning of Credit
First, the economic meaning of credit
Second, the sociological meaning of credit
Third, the legal meaning of credit
Fourth, honesty and credibility.
Section 2 Credit Constraints and Financial Operation
First, clarify property rights and establish credit relations.
Second, establish credit relationship and information symmetry.
Third, information symmetry and financial operation.
Section 3 Credit Dimension and Financial Supervision
I. Money Supply and Bank Credit Scale
Second, the substitution of credit circulation tools and social credit supply
Third, credit rationing and financial supervision.
Section 4 Credit Basis and Financial Risks
I. Financial vulnerability and financial risk management
Second, financial flexibility and financial risk management
Third, financial risk management and credit risk quantification.
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Chapter IV Commercial Finance
Section 1 Characteristics and Orientation of Commercial Financial Institutions
I commercial nature of finance and characteristics of commercial financial institutions
Second, the positioning of commercial financial institutions.
Section 2 economies of scale, economies of scope and value creation of commercial financial institutions
I economies of scale of commercial financial institutions
Second, the scope economy of commercial financial institutions.
Third, the value creation of commercial financial institutions
Section 3 Valuation of Commercial Financial Institutions
First, the significance of the valuation of commercial financial institutions
Two. Valuation of tangible assets of commercial financial institutions
Three. Evaluation of intangible assets of commercial financial institutions
Fourthly, the particularity of the value evaluation of commercial financial institutions.
Section 4 Professional Managers of Commercial Financial Institutions
First, the formation mechanism of professional managers
Second, the value assessment of professional managers
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Chapter V Policy Finance
Section 1 Overview of Policy Finance
First, the connotation of policy finance
Second, the inevitability of the development of policy finance
Third, the way to realize policy finance.
The second part: the way to realize policy finance in western countries.
First, the characteristics of western policy-oriented financial institutions
Second, the realization of policy finance in major western developed countries
Section III Implementation Mode of Policy Finance in China
First, the background of the establishment of policy finance in China
Second, establish three policy banks in China.
Third, the operation of policy banks in China
Fourth, the macro-control of policy banks and central banks in China.
Section 4 Assets and Liabilities of Policy Finance
First, the source of funds for policy finance
Second, the use of policy financial funds.
Section V Vitality of Policy Finance
First, "lack of market" and policy finance
Second, "market failure" and policy finance.
Third, the boundary of policy finance.
Fourth, the long-term existence of policy finance in China.
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The second part is the subject of behavior.
Chapter VI Family Finance
Section 1 Family Financial Management Needs
First, family financial management and family financial management
Second, the classification of family financial needs
Third, the decision of family financial needs.
Fourth, family economic needs and budget constraints.
Section 2 Family Financial Supply
I. Design and pricing of product supply of financial institutions
Second, the ways and means for financial institutions to meet the needs of family financial management-financial marketing
Third, the development prospects of family finance business
Section 3 Asset Selection of Family Financial Management
First, the strategic choice of saving and investment.
Second, the strategic choice of securities investment
Third, the strategic choice of fund investment.
Fourth, the strategic choice of foreign exchange investment
Fifth, adjust the investment structure in a timely manner to resolve risks.
Section 4 Debt Selection of Family Financial Management
First, "debt consumption" will become the content of some people's lives.
Second, the debt selection strategy of family financial management
Third, personal debt consumption should prevent family bankruptcy.
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Chapter VII Company Finance
Section 1 Risks and Real Options in Capital Budget
First, the right to choose project investment opportunities.
Second, the investment choice of follow-up projects.
Third, investment projects give up options.
Section 2 Company Merger and Acquisition
First, the concept of mergers and acquisitions
Second, the source of synergies in mergers and acquisitions
Three, mergers and acquisitions, agency costs and the company's control of the market
Section 3 Financing of Multinational Corporations
First, the characteristics of financial management of multinational corporations
Two. Operating activities and related cash flows of multinational corporations
Three. Project evaluation in international capital budget
Fourth, transfer pricing.
Section IV Corporate Governance
I corporate governance mechanism: internal and external control system
Second, optimize the corporate financing structure and corporate governance structure.
Third, stock financing and the determination of the optimal shareholding ratio of controlling shareholders.
Section 5 Finance of Holding Company: Risk and Return Rate
I. Holding Company: Types and Characteristics
Second, the influence of diversification of holding companies on risks and returns.
Thirdly, the influence of multi-layer holding of holding company on risk and yield.
Section VI Company Performance Evaluation: Theory and Method
I. Theoretical sources and calculation methods
Second, innovative financial performance evaluation system ideas
Third, the existing problems
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Chapter VIII Government Finance
Section 1 Overview of Government Finance
First, the emergence and development of government finance
Second, the definition of government finance
Third, the functional orientation of government finance.
Section II Theoretical Basis of Government Finance
First, the new state interventionism and public investment theory
Second, government finance is based on the function of government capital.
Third, the separation of "government capital function" and "government administrative function":
The breakthrough point of government financial development
Section III Cost and Benefit Analysis of Government Finance Operation
First, the cost analysis of the source of government financial funds
Second, the benefit analysis of the market-oriented use of government financial funds
Section IV Government Financial Scale
First, the theoretical investigation of the scale of government finance
Second, the measurement index of government financial scale
Third, the moderate evaluation of government financial scale: Take China and Japan as examples.
Section 5 Government Financial Risk Management
First, the generality and particularity of government financial risks
Second, the generality of government financial risk management
Third, the particularity of government financial risk management.
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Chapter IX International Finance
Section 1 General analytical framework for exchange rate determination
First, the general factors that determine a country's currency exchange rate.
Second, the main factors that determine a country's currency exchange rate
Section 2 Purchasing Power Parity Determined by Exchange Rate
First, the purchasing power parity theory
Second, the expanded purchasing power parity theory
Section 3 Interest Rate Parity Determined by Exchange Rate
First, the exchange rate parity without compensation.
Second, the interest rate parity offset method
Third, the further development of modern exchange rate parity.
Section 4 monetarism exchange rate determination theory
1. Monetary analysis under simple elastic price
Second, the expansion of the elastic price currency analysis
Third, the exchange rate analysis of viscous price currency
Section 5 Interpretation and Evaluation
I. Interpretation and evaluation of purchasing power model
Second, the interpretation and evaluation of interest rate parity model
Third, the interpretation and evaluation of monetarism exchange rate theory.
Section VI Determination of RMB Exchange Rate
First, the pressure of RMB exchange rate appreciation in the real economy.
Second, the complexity of RMB exchange rate determination at the financial and economic levels.
Third, reform the exchange rate formation mechanism.
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The third chapter is the development of academic theory.
Chapter 10 Mathematical Finance
Section 1 Introduction to Mathematical Finance
I. Basic analytical framework
Second, the securities market.
Third, market equilibrium.
Section 2 Utility Function and Risk Attitude
First, the utility function
Second, the principle of expected utility.
Third, risk attitude.
Section 3 Two Securities Markets
One, two asset models
Second, the multi-asset situation.
Third, asset pricing based on consumption.
Fourthly, CAPM pricing principle.
Section IV Multi-cycle Securities Market: General Equilibrium and No Arbitrage
I. General equilibrium
Second, the random discount factor.
Third, no arbitrage equilibrium and risk neutral pricing.
The fifth section discusses the applicability of mathematical finance to China financial market.
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Chapter II XI Behavioral Finance
Section 1 Overview of Behavioral Finance
First, the emergence of behavioral finance.
Second, the characteristics of behavioral finance
Section II Theoretical Framework of Behavioral Finance
I. Expectation theory
Second, the behavior of modern portfolio theory
Third, behavioral asset pricing theory.
Fourthly, some behavioral models of behavioral finance.
Section III Application of Behavioral Finance Theory
First, the trading strategy of behavioral finance
Secondly, behavioral finance explains some financial phenomena.
Third, the limitations of behavioral finance theory in application
Section IV Prospect of Behavioral Finance Theory
First of all, from analyzing individual investors to analyzing institutional investors.
Second, expand from financial markets to financial intermediaries.
Third, from micro research to macro research.
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Chapter XII Engineering Finance
Section 1 Basic Analysis Methods of Engineering Finance
First, no arbitrage pricing method
Second, risk-neutral pricing method.
Third, the price of technology in state price.
Fourth, the building block analysis method
Section 2 Pricing of Forward, Futures and Swaps
I. Pricing of financial forwards and futures
Second, the pricing of swaps.
Section 3 Option Pricing
I. Overview of options
Second, the change process of securities prices
Thirdly, Black-Scholes option pricing model.
Section 4 Design of Securities Products
I. Supply and demand analysis of securities product design
Second, the means of securities product design analysis
Three, several problems should be paid attention to in the design of securities products
Section 5 Risk Management
I. Identification and measurement of risks
Second, risk management.
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