Equity models

When asked why they tackled Mount Everest, climbers typically reply “Because it was there”. Our motivation for writing Advanced Modelling in Finance is for exactly the opposite reason. There were then, and still are now, almost no books that give due prominence to and explanation of the use of VBA functions within Excel. There is an almost similar lack of books that capture the true vibrant spirit of numerical methods in finance.
278p thuymonguyen88 07052013 87 33 Download

The topics discussed in this chapter are equity markets and stock valuation. After completing this unit, you should be able to: Understand how share prices depend on future dividends and dividend growth, be able to compute share prices using the dividend growth model, understand how share markets work, understand how share prices are quoted.
27p tangtuy04 16032016 8 3 Download

The model used–an extension of the loglinear dividendprice ratio model of Campbell and Shiller (1988, 1989)–facilitates a straightforward test of these alternatives in a linear regression with the log priceearnings ratio as dependent variable. The regression results suggest that the correlation between the priceearnings ratio and expected inflation is the result of both effects; that is, an increase in expected inflation reduces equity prices because it is associated with both lower expected real earnings growth and higher required real returns.
0p bocapchetnguoi 06122012 30 2 Download

This volume has a simple aim: to provide researchers and analysts with a stepbystep practical guide to the measurement of a variety of aspects of health equity. Each chapter includes worked examples and computer code. We hope that these guides, and the easytoimplement computer routines contained in them, will stimulate yet more analysis in the fi eld of health equity, especially in developing countries.
234p oobye123456 10052013 23 2 Download

Chapter 1 provides the introduction to the rest of the text. This chapter discuss the terms and framework necessary to understand the more complex subjects that appear later in the book. The focus in this chapter and the rest of the text is on equity valuation. Chapter 1 will also discuss the various definitions of value, the valuation process, the application of valuation models, and the roles and responsibilities of analysts.
24p allbymyself_10 02032016 6 2 Download

This chapter discusses the various forms of return encountered in investment management. Among the return types discussed are required returns, which will be used later in the text for equity valuation. The required return is what the investor expects to earn on an investment, given the investment’s risk. To determine the required return, we will use several different models, such as the capital asset pricing model (CAPM).
31p allbymyself_10 02032016 7 2 Download

In this chapter, we assume that the appropriate measure of future equity cash flows is dividends. We will use dividend discount models (DDMs) and the discount rates discussed in Chapter 2 to determine the common stock value. The topics discussed in this chapter are: An overview of present value models, the general form of the DDM, the Gordon growth model, multistage dividend discount models, and the determinants of dividend growth rates.
46p allbymyself_10 02032016 4 2 Download

(BQ) Part 1 book "The handbook of equity style management" has contents: Style analysis  asset allocation and performance evaluation; the many elements of equity style  Quantitative management of core, growth, and value strategies; models of equity style information; style analysis  A ten year retrospective and commentary;....and other contents.
274p bautroibinhyen21 14032017 4 2 Download

Chapter 6  Portfolio risk and return (Part II). The topics discussed in this chapter are: Portfolio risk and return, optimal risky portfolio and the capital market line (CML), returngenerating models and the market model, systematic and nonsystematic risk, capital asset pricing model (CAPM) and the security market line (SML), performance measures, arbitrage pricing theory (APT) and factor models.
35p allbymyself_10 02032016 22 1 Download

Chapter 9  Introduction to industry and company analysis. The topics discussed in this chapter are: Uses of industry analysis; industry classification systems; establishing a peer group; strategic analysis: Porter’s five forces; industry and product life cycles; demographic, governmental, social, and technological influences; company analysis; cost and differentiation strategies; spreadsheet modeling.
29p allbymyself_10 02032016 13 1 Download

Chapter 10  Equity valuation: Concepts and basic tools. This lecture introduces equity valuation models used to estimate the intrinsic value (synonym: fundamental value) of a security; intrinsic value is based on an analysis of investment fundamentals and characteristics.
28p allbymyself_10 02032016 18 1 Download

Essentials of Investments: Chapter 13  Equity Valuation presents about Fundamental Analysis, Models of Equity Valuation, Valuation by Comparables, Limitations of Book Value, Intrinsic Value vs. Market Price.
38p maiyeumaiyeu22 12122016 3 1 Download

(BQ) Part 2 book "The handbook of equity style management" has contents: The persistence of equity style performance  evidence from mutual fund data; how the technology bubble of 1999–2000 disrupted equity style investing; multistyle equity investment models, multistyle equity investment models,...and other contents.
238p bautroibinhyen21 14032017 1 1 Download

(BQ) Part 2 book "The mathematics of financial modeling and investment management" has contents: Fat tails, scaling, and stable laws; arbitrage pricing  finite state models, capital asset pricing model, equity portfolio management; multifactor models and common trends for common stocks,...and other contents.
428p bautroibinhyen21 14032017 1 1 Download

This chapter describes the valuation models that stock market analysts use to uncover mispriced securities. The models presented are those used by fundamental analysts, those analysts who use information concerning the current and prospective profitability of a company to assess its fair market value.
22p nomoney8 04042017 1 1 Download

Expected asset return measures are needed to construct portfolios, plan for retirement, value equities and options, and forecast corporate cash flows. In this lecture, students will: Compute historical returns for stocks and market indexes; estimate expected asset returns using the Capital Asset Pricing Model (CAPM), Global CAPM (GCAPM), the FamaFrench 3 Factor Model (FF3F), and fundamental analysis; use excel styles and formats; create modules and write simple VBA programs.
26p nomoney8 04042017 0 0 Download

Expected asset risk measures are needed to construct optimal portfolios, plan for retirement, value equities and options, and forecast corporate cash flow distributions. In this lecture, students will: Compute asset return variance and standard deviation, scale standard deviations across time, compute moving average volatility, compute volatility using EWMA models, compute implied volatility using the blackscholes option pricing model.
26p nomoney8 04042017 1 0 Download

Topic 12  Forward contracts and hedges, simulated correlated random variables. After completing this unit, you should be able to: Compute noarbitrage forward prices for equities, currencies, and commodities; compute the payoffs of forward contracts; construct forward hedges using beta and correlation; simulate correlated random variables.
25p nomoney8 04042017 0 0 Download

The CAPM rattled investment professionals in the 1960s and its commanding importance still reverberates today." Dow Jones Asset Management. Nearly 30 years ago, PORTFOLIO THEORY AND CAPITAL MARKETS laid the groundwork for such investment standards as modern portfolio theory, derivatives pricing and investment, and equity index funds, among others.
102p vigro23 29082012 56 23 Download

This book presents and develops major numerical methods currently used for solving problems arising in quantitative finance. Our presentation splits into two parts. Part I is methodological, and offers a comprehensive toolkit on numerical methods and algorithms. This includes Monte Carlo simulation, numerical schemes for partial differential equations, stochastic optimization in discrete time, copula functions, transformbased methods and quadrature techniques. Part II is practical, and features a number of selfcontained cases.
618p thuymonguyen88 07052013 37 19 Download