Managing Financial Risk: Derivatives, Financial Engineering, and Value Maximization (Third Edition)

Author: (USA) Smithsonian
Publisher:
Publish Date: 2003-09-01
Features: Companies that once relied on technological advantages and marketing skills to compete effectively have faced numerous new challenges over the past 20 years. Volatility in exchange rates, interest rates, and commodity prices—which were once considered insignificant to a company's long-term performance—have become a core strategic element in today's global economy. As the market demands effective and feasible methods to control financial price risk (essentially transferring the risk to a third party), countless futures, forwards, swaps, options, and hybrid securities have emerged. In Managing Financial Risk—Derivatives, Financial Engineering, and Value Maximization, risk managers have found the information they need. Due to this important and influential work, tens of thousands of financial professionals now understand and know how to leverage these powerful tools to reduce risk and costs. Compared to the previous two editions, the third edition of Managing Financial Risk—Derivatives, Financial Engineering, and Value Maximization has been further refined in content. It still covers all key derivative issues—from the most basic to the most complex—while delivering the latest information and research developments to the financial professionals who need them. In this comprehensive edition, you will find answers to the creative, intelligent, and effective use of derivative tools:
● The increasing impact of financial risk on businesses, including detailed historical cases of both successes and failures.
● Techniques for establishing a risk management philosophy, implementing risk management projects, and accurately evaluating their performance.
● Discussions on how risk management can enhance corporate value, reduce transaction costs, and lower the likelihood of erroneous investment decisions.
● Intrinsic and extrinsic methods for measuring a company's financial price risk exposure.
● Expert columns offering insightful perspectives on analysis from the viewpoints of traders and end-users. Managing Financial Risk is currently the most comprehensive risk management textbook. It provides up-to-date information on products and strategies, as well as contributions from industry giants such as British Petroleum, Citibank, JPMorgan Chase, McDonald's, Morgan Stanley, and the Ontario Teachers' Pension Plan, among others. This book, part of the Irwin Investments & Finance series, offers a profound and authoritative coverage of all aspects of risk management and the derivatives market.